I think back to my first mortgage and to a time of hope over experience and I wonder why building societies were so stupid. I was graduating from business school and wanted a smart flat in Pimlico in London for 22,500. But my Halifax manager said my maximum advance was 15,000 and that single men shouldn’t need more.So I went to a mortgage broker for a 3,000 second charge from Norwich Union, my employer for a 4,000 unsecured overdraft and my father for money for fittings. My indebtedness was about 25,000 on a property of 22,500. Thankfully house price inflation and a pay rise bailed me out. My last mortgage – with Abbey – came hassle-free via John Charcol. This was a real achievement as I was borrowing to invest in Retirement Plus and was not certain of the future. But I got a full status mortgage, which I am delighted with.
- Top trends
Mortgage Express has revealed its head of intermediary mortgage distribution Tim Sturley has decided to leave the company.Sturley joined the company in 1989 and worked on the relaunch of Mortgage Express in 1995. He led the development of Mortgage Express original buy-to-let products and as head of marketing led his team in growing Mortgage Express […]
Kent Reliance took more than 10 times its usual share of new savings and mortgages business in the six months to June 30.
The Professional Mortgage Packagers Alliance has added UCB Home Loans to its lender panel. UCBs addition to PMPAs lender panel is being launched with a three year buy-to-let tracker product at the Bank Base Rate plus 0.49% that is available for purchase and remortgage. It also has fully flexible facilities including underpayments overpayments and payment […]
The Financial Services Compensation Scheme says it is aware of at least 300 complaints relating to mis- selling by Berkeley Berry Birch Network, which it declared in default last week, allowing consumers to claim compensation. Following the sale of assets from BBB Network – formerly known as Berkeley Independent Advisors – to Tenet Group in […]
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