Drake Mortgages Limited

25/10/2023

Could this be you next week?

BNI Gravesend has passed £2m worth of business in the last 12 months and is expanding!

If you would like to find out what it could do for your business be that Visitor...
Contact us today to book a visit 👇
[email protected]

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25/08/2023

Another customer incredibly happy with the service I have provided 😀🥰

25/08/2023

Do you own or work for a local business? Would you like your business to grow? Come and meet other business owners at BNI Gravesend and see how we can help.

kent.bni.co.uk or contact us via our social media pages.

03/08/2023

https://www.bbc.co.uk/news/av/business-66384295 get in touch with us to see if we can help. Click on the company name above 👆👍

Watch the BBC's Lora Jones tell you five things you can do about your mortgage, in a minute.

20/07/2023

Great positive news this week regarding Sonia SWAP rates decreasing, is this the turning point we have been waiting for??

SONIA SWAP rates -
• The swap curve has shifted downwards from last week.
• 2-year swap rate has decreased by approximately 0.31% to c5.7%.
• 5-year swap rate has decreased by approximately 0.32% to c4.9%.
• Over the pond in the US, CPI came in at 3% ahead of forecast. This indicates that the Federal Reserves’ (FED) Federal Open Market Committee (FOMC – US equivalent of MPC that sets interest rates) may not need to hike rates at the next meeting. This has resulted in the sterling performing better against the dollar at 1.31 (see graph to the right) which makes imports from the US to the UK cheaper which is deflationary. This is the main driver of lower swaps this week in addition to the above.

06/01/2023

Are you in search of the perfect mortgage deal?

Drake Mortgages are dedicated to helping you find the best option that suits your individual needs and circumstances. Our team of experienced independent mortgage brokers are here to provide impartial advice and guidance across the whole process.

We can compare deals for different mortgages, such as Fixed Rate Mortgages, Variable Rate Mortgages, Offset Mortgages, Buy-to-Let Mortgages and much more.

✅ Residential
✅ Commercial
✅ Development
✅ Bridging
✅ Investment

Get in touch today!

Independent Mortgage Brokers offering friendly, professional advice for all mortgages

21/10/2020

On 8 July 2020 the Chancellor announced temporary reductions for Stamp Duty charged on residential property purchases. These reductions apply to first time buyers, home buyers and property investors including those using a SPV Limited Company.

The normal rate of Stamp Duty Land Tax (SDLT) is currently zero for property purchases up to £500,000. But completion needs to take place by 31 March 2021 to qualify for this zero rate.

Recent research has found that it currently takes almost four months from finding a property until owning it on completion. The property market is very buoyant at the moment with properties selling quickly.

This high volume is also stretching the related services such as mortgage companies, solicitors and conveyancers and removal firms. It now takes longer to receive a formal mortgage offer from lenders, with some taking 6-8 weeks even for straightforward applications.

So if you hope to take advantage of the stamp duty saving, we would recommend you get going…

13/10/2020

According to the Halifax house prices rose by 7.3% in the last 12 months. This is the steepest rise for some years.

A lot of this gain can be attributed to pent up demand during lockdown earlier in the year. And once restrictions were eased a temporary reduction in Stamp Duty has provided the intended boost to get the housing market moving.

Properties are selling within days and often for more than the asking price as buyers scramble to seal a deal that has substantial savings on Stamp Duty.

Of course there has been a corresponding rise in mortgage applications and lenders are struggling to cope with the volumes. Service levels have dropped and the time taken to produce mortgage offers and deal with queries has increased.

We are working very hard on behalf of our clients to ensure their applications are processed as quickly as possible and our staff are constantly liaising with lenders. Mortgage products are being withdrawn and changed, with very little notice to allow brokers to react in time.

If you do intend to move, purchase a property or apply for a mortgage over the next few months please allow time for these delays and disruptions.

19/08/2020

The mortgage market at the moment is very changeable. Lenders are coming in and out of the market at short notice with alterations to the products and criteria.

Please call us on 020 8301 7930 for the latest information.

23/06/2020

Hi

We have just joined Next Door as a business. Hopefully you can join us too.

Mortgage advice continues to be available by telephone and email.

Many communities throughout the United Kingdom are using Nextdoor to strengthen their neighbourhoods.

10/06/2020

What Are The Benefits of using a Bridging loan for Property Development?

Our latest article takes a look.

If you own a small to medium-sized construction business, it’s entirely possible that on occasion you have had to let a profitable redevelopment project slip through your fingers, through lack of funding. Lack of cash, running out of cash or getting it at the right time and cost are common problems for property developers.

Traditional mortgages are usually unavailable to developers. Thankfully, a ready and accessible answer may lie with a bridging loan for property development.

Read more: https://drakemortgages.co.uk/benefits-of-using-a-bridging-loan-for-property-development/