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The year of remortgages has come early for me

STAR LETTER

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.

SIMON COLLIS
MORTGAGE CONSULTANT
CHADNEY BULGIN

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