Although the market often calms in January, we certainly don’t have a dull start this year.
During the week Mortgage Strategy The Bank of England’s MPC committee reduced the tax rate to 4.5% by another 0.25 percentage points to 4.5% to allow the industry to react mixed.
There is no doubt that the speed of further cuts passed by lenders should prompt a further shift in the mortgage market, with some lenders already including cuts in the forecast cuts and then before confirming the cut.
A lender has promised to provide at least 24 hours of product withdrawal notice
One problem that still exists for intermediaries is the withdrawal of products and prices without any notice. It has become more common in recent weeks. This puts unnecessary pressure on the agents, who are already very busy. Sometimes, lenders’ own employees are unavailable after standard time and cannot raise rates late at night.
As the advisor pointed out, if there is little notification affecting the relationship with the client, they may not understand why they have to rush to complete the application or why they no longer get the original deal. Lenders are asked to give as much notice as possible and to keep a team up to the deadline.
Santander promises at least 24 hours of product withdrawal notice, which is Santander, which hopes to be an intermediary under new home chief David Morris The market cooperates more closely. It also promises to avoid double pricing and improve its product transmission products.
In this month’s MAG, former deputy editor Sam Barker is the former cover of freelancers asking why the UK has not yet adapted to long-term mortgages.
Meanwhile, I’m happy to interview the lovely Robert Sinclair, who will retire from AMI at the end of February. His career is fascinating and has really left traces in the field.
Finally, don’t forget to book your location on the biggest and best night of the year, the Mortgage Strategy Award, on May 21 before it’s sold out!
This article introduces the February 2025 version Mortgage Strategy.
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