Happy Christmas 2019

Happy Holidays.

Another year is done!

What’s happened and what do I think will happen in 2020…

Firstly, the start of 2019 certainly does not seem 12 months ago! Where do the days go?

We have had another year of low mortgage rates, plenty of deals, and innovative criteria.

And I think a pattern has emerged as the year has progressed.

The biggest premier league lenders have offered some fantastic rates to gain market share and probably not a lot of profit, while the smaller lenders have worked hard to be innovative and come up with ideas to help the less straightforward requests.

So, as I write you can get a 5-Year fixed rate mortgage at from circa 1.5%!

Or, I can find you a Joint Borrower Sole Owner loan with a small term for the older borrower, conjoined with a 35-year term for the person who, as a first-time buyer, can no longer get a guarantor mortgage.

As I write, we can find 2-year fixed rates down as low as 1.3% (with a healthy deposit) or terms to take borrowers to age 95, in the right circumstances of course!

There are lenders who will help a buy-to-let owner who wants to put members of his or her family in the buy-to-let and an increasing number of holiday let lenders. More on that later…

What about House and Holiday Home Mortgages Ltd?

Well, Joe has developed into a fully-fledged, very competent, thoughtful and inquisitive Mortgage Broker and Adviser.

I am delighted to announce he is now a director of our business with responsibility for growing it in the roaring ‘20s! He has been a great asset to me for sure.

Those of my readers who are sole traders will concur it’s just good having someone around to moan to with or share a laugh!

We were delighted in the Autumn to take on Lauren Poole. She is a fully trained mortgage administrator with loads of experience who has already freed up time for Joe and I to do what we are good at (Lauren is still wondering what that is in my case!).

She is a massive music and dance fan. Joe and I have waited in trepidation on Monday mornings in case she disagreed with the Saturday night Strictly vote!

She’s already a vital cog in our expanding wheel and helps us to deliver an even better service to all our clients.

It’s been a busy year all around. We have appeared on podcasts, helped at least 5 lenders with their new Holiday Let lender policies and remain active Networkers with the new formed Cirencester Sterling Group and Gloucestershire Forwards.

Whilst Home Movers, BTLs, First Time Buyers and Remortgages remain our staple diet, we continue to develop the Holiday Let and Mortgages for Sports Professionals arms to our business.

We have helped a number of footballers in 2019 including Premier League players and we know more about this tricky area of lending than most.

We are in contact with some of the biggest clubs in the land and have recently completed successful seminars at Sheffield Wednesday and Blackburn Rovers. This is Joe’s project going forward whilst my aim will be to canvass the South West and Lake District with our Holiday Let Mortgage story.

What are my wishes for 2020?

  • I remain apolitical, of course, but I hope our PM takes housing very seriously and appoints a minister who will really make some change.
  • We need more houses built; we need a reform to make Stamp Duty fairer. The attack on BTL customers must surely soften now.
  • I believe that property investment in London is coming from a lot of overseas investment. That must change.
  • I wish for a stable set of interest rates.
  • I want those who were sitting on their hands because of the B-word to have confidence to make that purchase now.
  • I want customers to stop thinking social media crowdfunding will help them if they get sick and engage instead with proper well priced insurance plans.
  • I want lenders to get the “free legals” conveyancing process to work better.

Just personal wishes but not unreasonable ones!

My personal self-development will centre around Later Life Lending.

Lenders, you too need to come up with more ideas to give older borrowers more innovative products. There is still a high level of older personal debt out there that needs properly dealing with.

The Bank of Mum and Dad is, I believe, equivalent in size to our 5th largest lender. The Retirement Interest Only (RIO) Mortgage is a great idea but because of criteria the numbers written are still way too low.

Finally, some 2019 ‘Thank Yous’…

Firstly, to our lovely growing band of clients and to the lenders and business development managers who tirelessly help us.

To the team at Mortgage Intelligence, our network, who keep us on the straight and narrow, pay us and give us 60 plus lenders. A great bunch of people!

To all who refer business to us and to the Master Brokers who have helped us with areas of lending like Bridging and Second Charges, where we don’t have the necessary permissions to give that advice.

So, as Greg Lake plays in the background, thank you Readers. Have a great Christmas and a prosperous New Year.

Mark and Joe Stallard, House and Holiday Home Mortgages Ltd