News on rates has been generally good

Good news from Halifax its product transfer and further advance booking system is back. This is useful as for some existing clients it’s worthwhile to stay.

Simon Collis
SIMON COLLIS, MORTGAGE CONSULTANT, CHADNEY BULGIN

And bad news from Halifax an existing borrower moving home and porting their fixed rate needs a top-up amount of only £9,000 up to 89.9% LTV. The rate is all right at 5.99% for a two-year fix but a £999 fee for such a small amount?

The lender can’t be that busy at the moment. I was shocked the other day when my call was answered after just two rings.

And just to prove brokers aren’t perfect, I recently booked funds online for a client for £279,450. Unfortunately, I actually booked £279,280,450.
Apologies if you couldn’t book funds that day. Apparently it didn’t matter, so why do lenders ask for the mortgage amount anyway?

And Woolwich is useful as its switch and fix trackers give brokers a retention proc fee when the client switches to a fixed rate later on.

The last couple of weeks have brought good news on rates in general although someone needs to tell the Royal Bank of Scotland it can’t just swan in and buy business every few months. The rest of the market has to fight harder than that.