Sam Cox - Mortgage Consultant

02/03/2024

Raye you earned every award that came your way babe. THAT is how you do it! Utterly amazing!! You go girl!!

03/07/2017

Well its been an embarrassingly long time since my last post, but this is because I've been very busy, and busy is good! Despite the horrendous events of recent months and the Roller-coaster of political upset, it has been pretty much 'business as usual' for purchases and re-mortgages and I'm proud to share with you a recent 'shout out' I received in the Guardian from one of my clients who had given up hope of ever becoming a property owner.
https://www.theguardian.com/money/2017/jun/17/generation-rent-first-time-property-buyer
Nice to know the work we do is appreciated and to see how it can really change people lives.
So how does the rest of the year look? Certainly the constantly changing political landscape is causing concern and people are definitely being more cautious at the moment.
It is also becoming widely acknowledged that there is a good chance of rate increases on the horizon, so now is a good time to lock into a longer term deal. So look at your own Mortgage and speak to your friends about checking their deals. We can secure new rates 6 months in advance of when they are required, and with 5 year deals starting from 1.75%, the key is acting sooner rather than later, so I look forward to speaking to you soon!

Shared ownership? Buying with a friend? Long commute? For Generation Rent, the options aren’t easy, but it can be done

23/07/2016

Ok so we are few weeks on from Brexit now, and the world has not stopped spinning, the sun is shining and everything is OK.
Just to advise the feeling in our industry at present is very much 'business as usual'. Lenders are still very motivated to lend, they have not cut their high 'loan to value' products which suggests they do not expect to see any drastic falls in house prices. Rates are still at all time low, and house prices in London and the South East have been adjusted to reflect the usual slowing at this time of year.
So before you head off on your summer holidays please check what rate you are currently paying, I still have clients frequently tell me that 'they know they already have a great deal' because they are on an older style mortgage contract, however news is, that 2.5% is not considered 'a low rate' anymore when there are deals starting from 1.29% available.
There are further rumors about 'Bank Base' Cuts in August, so if you take a tracker mortgage now, you will then benefit from any cuts. Personally I'm not convinced they will do this though, I don't think there is currently justification for them to need to.
The interesting time will be in September which is when the market comes back to life again, and people want to be moved before Christmas. First Time buyers should notice a bit of a difference in prices, and the 'Home Buy' scheme, and other similar schemes are still offering good opportunities.
There are also really good guarantor Mortgages available and the SpringBoard Mortgage also, and one lender even allowing more than 1 family member to act as guarantor and prepared to take a charge on another property to protect their loan. This takes us back to good old fashioned banking principles and it's great to see a lender being so flexible in their approach.
So there is still much to be optimistic about. Enjoy your summer!

27/09/2015

An interesting and positive day for Mortgage Advisers today at the Sesame Bankhall/PMS Mortgage and Protection Roadshow. Most of the lenders are now confirming that a majority of their business comes from the intermediary market with this percentage expected to increase as consumers prefer to obtain rounded advice on Mortgages and Insurances.
This is mainly due to the very complicated application procedure and varying qualifying criteria that customers must satisfy in order to obtain a mortgage.

On a positive note, although the criteria is still strict we are also finding there are a number of lenders with quirky criteria offering Mortgages for clients who may previously have struggled, for example:

• Family gifted deposits and gifted equity
• 95% Mortgage for First Time Buyers without the need for the ‘help to buy scheme’
• Debt consolidation to 90%
• Various incomes now considered
• Ltd Company – share of net profit considered
• No redemption penalty mortgages
• Unusual construction including steel & timber frame
• 10 year fixed rates with reduced early redemption charges, making them more attractive.
• Buy to Let Ex pat mortgage
• 85% LTV Buy to Let
• First time landlords
• Shared ownership (no deposit required)
• Right To buy

If you have any questions or would like a mortgage review to discuss some of the fantastic rates available please feel free to contact me.

An interesting and positive day for Mortgage Advisers today at the Sesame Bankhall/PMS Mortgage and Protection Roadshow. Most of the lenders are now confirming that a majority of their business comes from the intermediary market with this percentage expected to increase as consumers prefer to obtain rounded advice on Mortgages and Insurances.
This is mainly due to the very complicated application procedure and varying qualifying criteria that customers must satisfy in order to obtain a mortgage.

On a positive note, although the criteria is still strict we are also finding there are a number of lenders with quirky criteria offering Mortgages for clients who may previously have struggled, for example:

• Family gifted deposits and gifted equity
• 95% Mortgage for First Time Buyers without the need for the ‘help to buy scheme’
• Debt consolidation to 90%
• Various incomes now considered
• Ltd Company – share of net profit considered
• No redemption penalty mortgages
• Unusual construction including steel & timber frame
• 10 year fixed rates with reduced early redemption charges, making them more attractive.
• Buy to Let Ex pat mortgage
• 85% LTV Buy to Let
• First time landlords
• Shared ownership (no deposit required)
• Right To buy

If you have any questions or would like a mortgage review to discuss some of the fantastic rates available please feel free to contact me.

[email protected]

10/09/2015

So back to normal now after the Summer holidays and the usual rush to get people moved before Christmas.
There is good news today with the launch of some very competitive 95% products,so all those rumors you have heard about needing at least 25% for a residential purchase is not true.
First time buyers can also access these 95% rates and they are not part of the 'home-buyer scheme' i.e. they are just normal 95% mortgages, with no additional terms& conditions.
Regarding rate rises, did you know in a recent poll it was found that over 78% of households have failed to understand the effects a 0.5% (half percent) rate rise will have on their mortgage payments, with many insisting they would struggle to cut back on expenditure in this event. The problem seems to be, that people are waiting for the first 'rate rise' before they will go and look for a fixed rate deal. However, by then, the rates on offer will have already increased. The Lenders will increase their products swiftly and it will likely take you a while to get the relevant documentation together. You ideally need to secure your long term fixed rate now 'before' the rate increase.
Now is a very competitive time in the market with the lenders all competing for 'market share' so if you are still on a 'variable rate' please get in touch so I can provide you with some quotes.
Also if you have been previously told you were unable to obtain a mortgage due to lack of 'required documentation' it's worth speaking to an Adviser again. The lenders are constantly amending their criteria and recently we have seen some more achievable ways of providing 'proof of income' and other verification, an example is those on 'Zero Hours' contracts or any Contracts for that matter, who might have been turned down this time last year, may fine it's worth trying again now.
Best Wishes Sam

16/03/2015

A lovely selection of thank you notes and cards from my clients this month. I must be doing something right!

05/11/2014

Nationwide have launched a fab 10 year fixed rate at 3.49% today,if you would like the security of knowing your payments for the next 10 years this could be for you. Speak to me about an overpayment structure so you can take advantage of these all time low rates and clear your mortgage ASAP. I constantly hear people bragging about 'how 'cheap' their mortgage is' when really they should be chucking everything they can at it, to get it paid off now while rates are still low. I'm sure I'll be hearing these same people moaning to me about 'how much their mortgage has increased by ' in the future! don't be complacent.

14/10/2014

There is some major competition between lenders at the moment and rates are at an all time low again, with 2 year deals starting at 1.95%. Are you still paying a variable rate? The time to lock in is now, as Yazz and the plastic population said in the 80's 'the only way is up'! Don't wait until its announced it will be too late by then!

07/02/2014

Bank of England Base rate held again today - did you know it's now been the same level for almost 5 years, so how long will it last? The previous minutes released from the MPC meeting was that Mark Carney was using the 7 million unemployed figure as a benchmark before we would see an increase in rates. This bench mark has been almost reached and today Ray Boulger says: “The short-term message for anyone wanting a five-year fix is not to hang around, as rates are only going one way in the short-term." I have seen evidence of this myself this week with several of the main lenders increasing their 5 year fixed rates. If you are hovering on a variable rate at or around 2.5% then you can CURRENTLY lock into 5 year fixed deal from 3% so I would seriously consider this now, and get in touch with me if this applies to you. Remember the mortage lenders set their own rates, so by the time the BOE has increased the base rate it will already be too late!

24/07/2013

Before you jet off on your summer holidays take some time to reveiw your curent mortgage again. Over the last 6 months the mortgage companies have started to open up their criteria again, re-mortgage loans are available upto 85% on MUCH better rates than previously, and even those on sub 3% variable rates can do better, with 2 year fixed rates starting from 1.95%. The message is to re-visit things again, beacuse whereas previously you may have found the options un-appealing or that the 'computer said no' you could find now a vastly different story! Spread the word and tell eveyone to re-reveiw their current mortgage!