Welcome to Mortgage Help Scotland
We are a Falkirk based company with over 24 years experience and we are committed to providing the best one to one friendly and professional service in Scotland. We search the Whole of Market to provide you impartial advice on the most suitable mortgage for you and we don't charge broker fees.
If you require a mortgage quotation or simply wish to chat over some of the fears or questions you may have about moving house and obtaining a new mortgage, then please either call our hotline number on 01324 872296 or request a call back or email info@mortgagehelpscotland.co.uk
Your home may be repossessed if you do not keep up repayments on your mortgage.
The levels and bases of taxation and UK interest rates are subject to change.
The guidance contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Mortgage Help Scotland Ltd, is an appointed representative of The M & E Network Ltd, which is authorised and regulated by the Financial Services Authority.
The M & E Network Ltd is entered on the FSA register under reference 150643.
Latest News
17 June 2009 - Steve McAvoy comments this week on the market are as follows: -
Well with previous comments by me that Lenders would hike the cost of Fixed Rate mortgages being belted out for the last 3 weeks, it has finally happened, Surprise! Surprise! - Lenders have this week increased their rates for fixed rate mortgages blaming steep rises in wholesale funding costs with Halifax increasing by 0.3% to 0.6% within their product range and C+G increasing by some 0.5% to 0.7%. Nationwide increased their fixed rate products by up to 0.86% last week and next up will be Alliance + Leicester who have been one of the best of late but increases by them are expected today or tomorrow but possibly rises of only 0.1 to 0.2% expected.
Are these upward movements the Death Knell for cheap fixed rate mortgage deals as experts warn over ongoing rising swap rates. Many experts are predicting the end of cheap fixed rates and the rates have reached an all time low and I am 90% convinced of that myself but experts are famous for wrong predictions so watch this space as Swap Rates may decrease the next time, however one way or another we should find out within the next 4 weeks and as they say watch this space as people will either panic buy or wait and see! What category do you come into???
Movie A-Lister Sienna Miller is the latest celeb to fall victim of the credit crunch as her house is now for sale at £200,000 less than what she paid one year ago! (I would volunteer to do her viewings for her just to meet her!). At £1.2 million last year it might be a bargain at £995,000.
One in 10 UK homeowners appears to be in negative equity just now! This is similar situation to what happened in the mid Nineties.
LOCATION LOCATION LOCATION
According to property experts Location is key to UK values and as an example the same house in London is worth double to its counterpart in Wales when comparing like for like. Meanwhile, a ten per cent increase in floor space adds around five per cent to the value of a typical house and adding an extra bedroom or bathroom in a loft conversion can boost a properties vale by as much as 20 per cent. More bedrooms always means more value and a 13 sq m double bedroom added to a two bedroom house can boost its value by 11 per cent.
A house in the best neighbourhood can command a price nearly 50 per cent higher than a similar house in an average area." So, with a recent spate of people upsizing as house prices crashed, it would have made more sense for them to choose a more desirable location rather than a bigger property if they wanted to maximize the value of what they owned.
Banks seem to be profiteering despite the base rate and Libor rate being at all-time lows. I would expect lenders to start to increase their standard rates as they have may feel that they have too many borrowers sitting on Standard Variable Rates and this maybe a way to offload them to more expensive products and further increase their profits from borrowers in general. The FSA and UK Government will probably allow them to do this to the disgust of the average borrower. I would expect this to happen next and I would also expect the Bank of England Base Rate to start to rise in tandem with the lenders next trick or two.
In summary things are changing fast behind the scenes and I use the words ‘’behind the scenes’’ as the limelight on recent news is all about Swine Flu; Susan Boyle and Politicians putting their fingers in the till. Other news stories are doing well to camouflage the state of the mortgage market and we all know property prices will continue to decrease until proper loan to value lending with fair interest rates come back on the scene, however we may have to wait at least another 6 months. My opinion is that the BOE Base Rate will not increase by more than 2% for the next 6 months and we will see slow increases in rates between now and December but there maybe some good mortgage rates that will buck the trend.
Will update next week and until then be safe and don’t worry.
04 June 2009 - Breaking News..........BBR held for a third month.
The Bank of England has held Bank base rate at 0.5% for a third straight month.
The relative stability in rates follows six straight cuts, taking rates from 5% last October to its current record low. The freeze was widely expected by industry figures.
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