Happy Christmas from House and Holiday Home Mortgages Ltd
The mortgage market and me in 2017!
I start by wishing all my followers a very happy and peaceful Christmas and New Year.
My thoughts on the year follow.
It is hard to think House and Holiday Home had no borrowers in Oct 2015. I am now getting towards 300 customers and a day rarely goes by without a new enquiry. Thank you all for your support either as a customer or a supplier. I cannot grow this business without you. I give it 100% and in return I get a lot support. Thank You!
So, what has happened in 2017 mortgage and protection wise?
I wrote about the pesky robots coming to take my work off me and, so say, make customers lives a doddle.
The more I read and learn about this the more I am convinced we are a few years away from such an event.
I do seem to attract complex cases that require a lot of thought and some ingenuity too. All the robots I have seen would have trouble doing a forward somersault, so I think I might see them off yet! So, if any robots want to practise on some tricky cases, I welcome your call!
The poor old BTL landlords could do with a bit of robotic help.
2017 saw many of them lose more tax reliefs and most of them who have 3 or more buy to lets will not have experienced mortgaging or remortgaging having to present business plans and full details of all their properties yet.
We have seen a down turn in BTL business for sure, as many brokers have.
But I say that the country needs a strong rental sector. Many cannot afford or wish to buy a home, so surely driving landlords away will only increase demands and rent.
My drum beats a repetitive tune; experienced landlords start looking at the holiday let market. There are many reasons to do just that.
Working life would not be the same if you cannot smile at yourself occasionally.
My SatNav and I have had our share of arguments during the year… “No! Why this way you stupid thing! I would have gone via…”
One day I am sure it will reply accordingly!
I have found myself locked in an apartments courtyard with a flat phone battery one late cold February eve, scrambling over a gate SAS style to get out!
I have laughed at many tales told by Holiday Let owners about what their guests get up to. One such customer drove to Devon to clean his beautiful new holiday home to find the shower had been turned into a sand pit complete with flag adorned sand castles!
The end of the year saw a rate rise, or perhaps we should call it a correction and as predicted a much-increased demand for a remortgage from many people who would admit now they should have contacted us earlier in the year.
The lower 1% 5-year fixed rates have gone, and the big question is how much will they climb above 2% on towards 3% even maybe?
The budget saw stamp duty help for many first time buyers. That’s great if the saving doesn’t end up being paid for over 30 years in the price of a house!
Lenders remain active and innovative.
Some of those rate rises in October are now rate falls. They have been more proactive in coming up with the right sort of interest only deals for the right customers. They are much better at lending into retirement at this time, realising retirement for many is a long way away. Nationwide have joined the Equity Release field and many experts predict that this area is one of huge potential growth.
House and Holiday Home Mortgages is ready!
We have made big efforts to advise on more mortgage protection.
Recently I received news of a customer who had a real cancer scare and was so pleased I had bothered to persuade them to take the right covers.
Yes, husband and wife were very frightened, as we all would be, but mighty relieved their family would not suffer so much financial hardship. I wish that family well, of course, and I am pleased to say it would appear the all clear has been given. But sadly, too many of us still play roulette with our financial future.
I was pleased to announce an expansion of my business by bringing son Joe on board.
His marketing and social media skills are second to none and he has quickly learned and passed his mortgage exams. He has a calm easy manner about him and with so few young mortgage advisers in the field, he will, when fully qualified, be a real asset to me our profession. He certainly makes me think and plan very carefully for the business’s future. Exciting times for sure and something that gives my company continuity.
Finally thank you to my network, Mortgage Intelligence.
I wouldn’t be doing this to this level without your initial support and encouragement and help now. The team in Bournemouth are always helpful and good to work with.
Thank you, Mrs S, for putting up with my sometimes over dedication and long hours on the cause! And also to my fellow adviser and friend, Stephen Thatcher. He is always a rock when I get stuck despite us having our own companies.
I always look forward to Jan the 2nd. It’s a new year with new challenges and targets to meet but most of all I just look forward to meeting you and helping with that next mortgage challenge.