Ultimately, the vast majority of second-charge borrowers fall into one of two categories: those looking to carry out home improvements, and those looking to consolidate existing debts.
The often-vaunted love affair Britons have with investing in bricks and mortar affects not only the decision-making of major developers and lenders, but also the long-term financial planning of consumers across the country.
Many in the industry will have paused for breath following the end of June and the end of the initial stage of the stamp duty holiday.
When looking to appoint an expert – be it a plumber, gardener or professional advisor – we tend to ask friends and family for suggestions.
Mortgage brokers come in all shapes and sizes from advising on standard residential loans to a variety of specialisms.
We can look at RIO sales and say they’ve been a little disappointing and we might therefore conclude that the product has been a failure, but I’d rather take a more positive view.
When located in the right place at an optimal time of year, a short-term let can earn four or five times the amount a standard BTL property on an AST can make in a month.
I’m not sure how many 16-24 year old clients you currently have – I’m going to guess at not that many – but when it comes to the younger age groups there is definitely a need to ramp up the educational message around credit scores and what it could potentially mean for them.
It’s notable that within our lending space we have to look rather differently at criteria because, for the most part it’s not the client themselves, their affordability, their income, etc, which is being assessed and underwritten, but the property.
Change has certainly been upon us over the last few years, even pre-dating the pandemic, and the commercial mortgages market has been no exception.