Nationwide to cut 90% loan to value fixed rates by up to 0.70%

Monday, 3rd December, 2012

Nationwide Building Society is to cut is 90% loan to value (LTV) fixed rates by between 0.50% and 0.70%.

In its fourth wave of rate reductions in two months, the lender is cutting its 90% LTV two year fixed rates by 0.70%, with rates now available from 4.49%, or 4.39% for existing customers. The rate changes will take effect from tomorrow.

It is also reducing its three year fixed rates by 0.60%, with rates available from 4.69% (4.59% for existing customers) and its five year fixed rates by 0.50%, with rates starting from 4.99% (4.89% for existing customers).

If you are a first time buyer or home mover we will be happy to help.  Here at Complete Mortgages, Guildford, Surrey we have whole of market access so can assist in almost any situation.  Please call us on 01483 233014 for a consulation.


Bridging loan industry grows 14% in third quarter

Tuesday, 30th October, 2012

The bridging loan market rose 14 per cent, from £348m in the second quarter to £399m in the third quarter, according to West One Loans’s latest Quarterly Bridging Index.

The bridging market is now predicted to hit £1.5bn by the end of 2012, in the wake of larger loans and higher volumes, says the lender.

West One Loans chairman Duncan Kreeger says: “Pain for the big high street lenders has been gain for bridging lenders. The recovery in the main mortgage market has been nipped firmly in the bud by renewed uncertainty. Funding from the money markets has become 45% more expensive since February – and higher capital adequacy requirements mean more business will be coming the way of the bridging market. Mainstream lenders are also being squeezed by the lack of confidence the money markets still have in even some of the largest banks.

“The big banks are turning away borrowers who, in a normal market, would be credit worthy. Credit scoring is tight, and plenty of affordable mortgages are advertised as widely available, when in fact borrowers have to cross a high threshold to be able to access them.”

The average loan size rose from £368,000 in the second quarter to £398,000 in the third. Average loan amounts still remain well below March peak level of £479,000.

Average rates dropped from 1.43% in the second quarter to 1.31% in the third quarter. Over the same period of time, LTVs fell from 48% to 46%.

Complete Mortgages has an in-house bridging and commercial specialist (predominantly covering the Surrey and London area but deals have been done all over the UK) therefore we are fully equipped to deal with any enquiries of this nature. Please contact us on 01483 233014 for a consultation.


Cashback for Business

Tuesday, 23rd October, 2012

If you’re looking to take out a business loan of £10,000 or more, or a commercial mortgage over £25,000, for three years or longer, then you may qualify for an upfront cashback from one of our commercial mortgage panel lenders.

Key features and benefits: –

• Borrowing with an immediate cash injection for your business normally paid on the date of drawdown

• Maximum cashback amount of 2% of the loan amount

• Available in conjunction with some of our business loans from £10,000 and commercial mortgages over £25,000, with a term of three years or longer

• Available for new and existing customers

Cashback for Business is denominated in GBP only and available to small and medium-sized UK businesses. Your business must have an annual global group turnover of less than £50 million to qualify.

Cashback for Business is not available for loans applied for online, for commercial and residential property investment or development loans, or for loans or Commercial Mortgages with staged or multiple drawdown. It is available for a limited time only and funding is subject to availability.

Normal lending and eligibility criteria for business loans and Commercial Mortgages apply.  Loans are subject to status and application.

Please contact us on 01483 233014 for further information.

Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage.