• One-year money is down 0.01% at 5.71%
• Two-year money is down 0.03% at 5.57%
• Three-year money is down 0.04% at 5.51%
• Five-year money is down 0.03% at 5.40%
I’m not impressed by the firms offering so-called reverse mortgages in some tabloid weekend newspapers. These companies are offering to buy the houses of sub-prime clients and then let them rent their houses back. The criteria these adverts attribute to normal mortgage lenders are ridiculously low and I’m sure any decent broker would be able to help most of these clients.
Well done to Guy Batchelor who has been appointedas executive director, sales and marketing, at Lehman Brothers UK Mortgage Capital Businesses. I’m sure he will excel in his new role.
I was overjoyed to receive an email from Cheltenham & Gloucester, the first line of which read: “