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The year of remortgages has come early for me


It’s not often one can thank lenders for new policies that help us all do business, but I must say, credit where credit is due.

We’ve heard from a number of market commentators that 2011 is the year of the remortgage – well it’s come early for me.

Thanks then to those lenders whose further advance rates are so appalling.

Special thanks go to Halifax and most recently Woolwich for making additional borrowing so difficult or expensive for clients that I am forced to remortgage them instead and receive a full proc fee, rather than just the extra fee on the additional amount borrowed.

I thank lenders whose further advance rates are so appalling that I am being forced to remortgage clients and get a full proc fee

Some might think this is pure coincidence, but I’m prepared to recognise a subtle plot to help us in the difficult market. So thanks again chaps, my figures would be considerably worse with out such an enlightened policy.

If you haven’t discovered this yet, just look at Halifax’s rates and fees for additional borrowing and Woolwich, where the existing main part of the loan is interest-only.

Maybe it’s all part of a cunning plan to phase out these small annoyances but who cares, if it means more business. Keep up the good work chaps.




£1.9bn – the amount that Christmas shoppers will spend on their credit cards in the run-up to December 25th, according to Sainsbury’s Finance. £2,000- the amount UK present buyers throw away by failing to plan their purchases in advances, according to First Direct. 15°C – the temperature experts recommend you keep your heating at to […]

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(Another) downhill stroll — retirement planning

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