The current economic situation is grim. Mortgage rates are rising, lenders are looking for reasons not to lend, the housing market looks unstable and the cost of fuel and energy prices is of grave concern. What does the government seem to be doing about this? Very little. The current liquidity crisis needs urgent attention. The government's working party to ease…
Author: Scott Morrissey
Rate cut on the cards
An interest rate cut is on the cards to help out homeowners who are finding things more and more difficult with the rising energy bills, higher petrol prices and lack of available mortgages. The threat of inflation is still an issue and is in danger of hitting the 3% limit imposed by the treasury but the global credit crisis is…
Arrears on mortgage
Your mortgage is likely to be the largest amount of credit you ever borrow in your lifetime. As this credit is taken over such a long period of time there are many obstacles that may arise over the period that you are not expecting such as redundancy, divorce or prolonged illness. These may not be things that we think about…
Debt consolidation services
If you are looking for debt consolidation services, look no further than Solution Mortgages. We offer debt consolidation services which will allow you to clear your debts and reduce your monthly outgoings. In modern society it is to easy to get into debt. Banks have been offering cheap credit for years in the form of unsecured loans and credit cards.…
More mortgages disappearing from the market
People who are looking to purchase a property or remortgage in the current climate, need to act fast. Lenders are changing products and criteria on a daily basis as they wrestle with liquidity issues and problems with pricing. The mortgage market is changing rapidly and you need to try and ensure that you act fast to try and complete the…
Interest rates could be cut early
There is talk that interest rates in the UK could be cut in April, earlier than expected. This is in response to further deterioration in the money markets in the last few days. The Monetary Policy Committee (MPC) members voted 7-2 to leave rates on hold last month. The fact that 2 members voted to cut rates last month is…
Mortgage arrears problems up by 35%
Mortgage arrears have increased by 35% in the first 2 months of 2008 said the Citizens Advice Bureau. This was coupled with an increase in arrears on essentials such as utilities, telephone bills and council tax bills. The higher cost of living is making it a real struggle for many families and the number is growing rapidly. Debts on credit…
Finance for construction projects
The market for new construction is wide, ranging from those who wish to develop a small plot of land to those companies who develop major residential estates and commercial sites. In general, the market for commercial development is less volatile than that for residential development. Residential property is vulnerable to interest rate increases and during times of economic downturn the…
Selecting a commercial property
Commercial property is usually advertised in the local and national press, estate agents, trade press and magazines. The internet is also proving a popular place to advertise commercial property. When selecting a property, a number of factors should be considered before making a choice. You should consider the ideal type of property for the business, while compromise may be necessary…
Launch of Commercial Lending
Due to the large number of commercial mortgages that Solution Mortgages has been undertaking we have decided to launch a dedicated commercial mortgage arm called Commercial Lending. Commercial Lending is headed up by Drew Mitchell who has recruited an experienced team of commercial mortgage brokers. The team has over 15 years of commercial mortgage experience, so you can rest assured…