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Higher 'loan to value' mortgages better than a stamp duty 'holiday'?

The end of the stamp duty holiday for first-time buyers on 24 March will have little impact on the housing market compared to the availability of 95% loan to value deals.The increased availability of 95% deals, which hit a four-year high, is likely to have a far more positive effect on the housing market.Recent data in fact shows the concession has done little to stimulate the market since the 1% tax for first-time buyers purchasing properties worth between £125,000 and £250,000 was removed…See More

Blog post by Mark Williams Friday

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Parents unaware of critical illness benefits

Parents are risking the financial security of their families should they become seriously ill by not thinking about critical illness (CI) protection.Of the small percentage of those who have purchased insurance, a significant number did not know if it included cover for their children.It is a sad fact , but children's illness are the fourth highest claim reason on critical illness policies – ranking only behind cancer, heart attack and stroke.According to a recent study, only one in twenty (6%)…See More

Blog post by Mark Williams Feb 10

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The end of interest only borrowing ?

Interest-only mortgages are set to disappear as a major high street bank restricts access to home owners.Santander has become the first major high street bank to insist that home owners need a 50pc deposit – or 50pc equity in their home – if they want an interest-only mortgage.This move not only affects those buying a property, but will also hit existing borrowers who are moving home. If their current home loan breaches these new rules they will have either to switch to a repayment mortgage or…See More

Blog post by Mark Williams Feb 8

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Bank of England to determine shape of mortgage market ?

Tough new rules to ban unsustainable mortgages and prevent another housing bubble are to be handed to the Bank of England, the Chancellor signalled last night.George Osborne told MPs the Bank of England was set to win powers to vary what mortgages customers can buy to prevent overheating in the housing market.A new Financial Policy Committee at the Bank would be able to set loan-to-value ratios on mortgages to burst credit bubbles before they become too big.This could mean that when house…See More

Blog post by Mark Williams Feb 7

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Britain is a nation of animal lovers...and insurers?

People living in the UK would still rather insure their pets than themselves or their loved ones.Although parents are more likely to buy protection, almost two-thirds (60%) do not have any cover in place.The research found that less than one in ten (9%) people have bought critical illness (CI) protection, while 12% have pet insurance.One fifth of parents said they would have to rely on savings if they needed money for medical treatment or to fund time off work.Less than half the respondents…See More

Blog post by Mark Williams Feb 3

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Blog posts by Mark Williams Feb 2

Families pick satellite television over life insurance

Recent figures have revealed that more families have satellite television than life insurance – in fact half of families have satellite TV but just 40% have life insurance.The report also found only 13% of families had critical illness cover while 14% had insurance for their mobile phone.Similarly 13% had taken out an extended warranty on electrical items, more than the 10% who had taken out income protection insurance.The report found that over a quarter of families, 27% admitted they did not…See More

Blog post by Mark Williams Jan 25

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bob bristow left a comment for Mark Williams

I am delighted to invite you to Business Biscotti - Free Business Networking at the Holiday Inn Kingston South this Friday 13 Jan from 10am http://ning.it/ywew8C Meetings are from 10am - Noon on the second Friday of every month

Jan 11

Hendrix , Princess Diana, Barry White , Bob Marley & Jill Dando...

Jimi Hendrix , Diana Princess of Wales, Barry White , Bob Marley and Jill Dando... What have these people got in common ?Well other than the obvious that they are all deceased, the common factor is that they all died either without making a will or failed to update it before dying.Jimi Hendrix’s family squabbled for years over his estate as he died intestate , and the executors of the will of Diana, Princess of Wales decided to give her god children small mementos, rather than the more generous…See More

Blog post by Mark Williams Jan 9

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The gender of the bread winner is irrelevant, when their income is lost

The Chartered Institute of Personnel and Development (CIPD) absence management annual survey report recently highlighted that stress is the second biggest cause of short term absences and one of the leading causes of all long-term absences for non-manual workers.It also highlighted a perhaps previously unknown fact that women are nearly three times more likely to take stress-related absence than men, according to new research.Analysis using Department for Work and Pensions (DWP) statistics has…See More

Blog post by Mark Williams Jan 4

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Mortgage Market Consultation CP11 - don't panic Mr Mainwaring!

Mortgage Market ReviewYou will have read over recent days about something called the MMR ( Mortgage Market Review) which is the FSA’s attempt , before they disappear into the sunset, at preventing a return of the risky mortgage lending seen in boom times, by ensuring that common sense standards continue to apply in future.Below is a summary of the proposals and then , what does that actually mean in practice.At the core of the proposals are three principles of good mortgage…See More

Blog post by Mark Williams Dec 22, 2011

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Buying now cheaper than renting in 94% of UK towns

Buying property is now more cost-effective than it has ever been compared to renting, proving cheaper in 47 out of 50 British towns, compared to 40 out of 50 this time last year, according to research.A study showed that renting is 15% more expensive on average than owning across the country, up from a 10% premium last year.It examined the prices and rents of 78,000 two-bed flats currently on the market, comparing rental costs to the payments on an interest-only mortgage at 5% a year.It found…See More

Blog post by Mark Williams Dec 15, 2011

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EU threatens to end buy to let mortgages

A proposed EU Directive threatens to severely damage the private rented housing sector according to one of the largest landlord bodies, report the RLA.The draft directive is aimed at tackling irresponsible lending on mortgages following property booms and busts in countries such as Spain and Ireland Under its provisions, when assessing the ability of the applicant to afford mortgage repayments, lenders will not be able to take account of rental income. Given that almost 90% of English…See More

Blog post by Mark Williams Dec 13, 2011

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To Firstbuy or not to Firstbuy

The government recently announced its backing of a mortgage indemnity scheme that will allow higher loan to value lending for buyers of new build properties.The full details of the scheme won’t be finalised until the spring, but we have compared the new scheme with Firstbuy, the government backed shared equity scheme announced in this year’s Budget.We believe borrowers looking at the new build indemnity scheme will share similar characteristics with those for whom Firstbuy was aimed at, in that…See More

Blog post by Mark Williams Dec 5, 2011

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Bank of England - Interest Rates to rise in 2012

The Bank of England has said that mortgage interest rates could increase next year, as lenders pass on the increased costs of wholesale funding.Its Financial Stability Report, published today, said that, since 2009, the profitability of new mortgage lending has reduced, because lenders have failed to keep rates in line with higher wholesale funding and other costs.With costs continuing to rise, the Bank warned that lenders may start to pass this cost on to borrowers by increasing mortgage rates…See More

Blog post by Mark Williams Dec 2, 2011

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Taxman hunting online for 'undeclared' holiday home owners

Overseas property owners have been urged to inform HMRC if no disclosure on tax has been made already. Tax specialists are warning advisers to notify their foreign property owning clients of a new investigation team established by HMRC to track down people who own land and property abroad by ‘data mining' publicly available records. One tax consultant and former Inland Revenue inspector, says this latest development is one of a number of trends conspiring to catch out those who have undisclosed…See More

Blog post by Mark Williams Nov 25, 2011

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Profile Information

Business Name (the main name you trade under): The Mortgage Monkey

Type of Business: Independent Mortgage Brokerage

Tell Us About Your Business: A privately owned independent mortgage brokerage, providing impartial advice since 2004 on all aspects of property finance including purchase and remortgage of residential, investment (buy to let), commercial and overseas property. We can also advise older clients who wish to release equity from their home.
For our reviews - www.themortgagemonkey.freeindex.co.uk

What Type Of Networking Events Are You Interested In?: Breakfasts, Free, Lunch, Speed Networking, Workshops

Which Local Towns Are You Likely To 'Network' In?: Addlestone, Chertsey, Cobham, Cranleigh, Farnham, Godalming, Guildford, Walton-on-Thames, Weybridge, Woking

Business Website Address: http://www.themortgagemonkey.freeindex.co.uk

Contact me: Main email (you may prefer to enter using 'AT' instead of @ - eg keith AT freelancecopy.co.uk) plus any other Website or Blog URL, and business phone: Email - mark@themortgagemonkey.co.uk
Phone - 01483 841643
Mobile - 07737267404
Website - www.themortgagemonkey.freeindex.co.uk
Blog - http://merrivale47-mortgagemonkey.blogspot.com/
Twitter - @williamsmarkal

Which online or offline business networking groups do you belong to? (Please type 'none' if you're new to networking): Ecademy
Linkedin

What's A Good Business Lead For You?: A client with whom i am able to establish a long term working relationship and who may feel comfortable in time referring me to their friends or colleagues.

How Did you Hear About Us?: Google

Mark Williams's Blog

Higher 'loan to value' mortgages better than a stamp duty 'holiday'?

The end of the stamp duty holiday for first-time buyers on 24 March will have little impact on the housing market compared to the availability of 95% loan to value deals.

The increased availability of 95% deals, which hit a four-year high, is likely to have a far more positive effect on the housing market.

Recent data in fact shows the concession has done little to…

Continue

Posted on February 17, 2012 at 11:00am

Parents unaware of critical illness benefits

Parents are risking the financial security of their families should they become seriously ill by not thinking about critical illness (CI) protection.

Of the small percentage of those who have purchased insurance, a significant number did not know if it included cover for their children.

It is a sad fact , but children's illness are the fourth highest claim reason on…

Continue

Posted on February 9, 2012 at 1:30pm

The end of interest only borrowing ?

Interest-only mortgages are set to disappear as a major high street bank restricts access to home owners.

Santander has become the first major high street bank to insist that home owners need a 50pc deposit – or 50pc equity in their home – if they want an interest-only mortgage.

This move not only affects those buying a property, but will also hit existing borrowers who…

Continue

Posted on February 8, 2012 at 12:30pm

Bank of England to determine shape of mortgage market ?

Tough new rules to ban unsustainable mortgages and prevent another housing bubble are to be handed to the Bank of England, the Chancellor signalled last night.

George Osborne told MPs the Bank of England was set to win powers to vary what mortgages customers can buy to prevent overheating in the housing market.

A new Financial Policy Committee at the Bank would be able…

Continue

Posted on February 7, 2012 at 12:00pm

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At 11:14pm on January 11, 2012, bob bristow said…: I am delighted to invite you to Business Biscotti - Free Business Networking at the Holiday Inn Kingston South this Friday 13 Jan from 10am http://ning.it/ywew8C Meetings are from 10am - Noon on the second Friday of every month