View more on these topics

The Money Centre responds to interest rate rise

Lynsey Sweales, marketing and PR director at The Money Centre, says that hopefully brokers will have prepared for the interest rate rise.

She says: Investors with a good broker should hopefully be supported by their brokers forward planning for such a situation arising.

At The Money Centre we always have plans in place to make any rise in the interest rates as painless as possible for our clients and most brokers worth their fee should have a contingency plan in place to support their clients.

The Money Centre offers investors a grace period with the majority of our lenders. This means that the interest cover will be calculated as if the rate rise had not happened, allowing investors to raise more money now than when the rise is finally checked.

In addition to this, our fixed rates remain the same so you can secure your mortgage outgoings against further rises.

The increase in interest rates has not affected the market as many thought it would with house prices falling. In fact the opposite has happened with the Royal Institution of Chartered Surveyors raising its house price forecast for 2006.

House prices are expected to increase by 4%, which is a considerable step up from the prediction of zero to 3% originally forecasted in 2005.

This is good news for buy-to-let investors in the long term. House price inflation and higher interest rates are resulting in many people, such as first time buyers and returners to the market, finding it increasingly difficult to commit to the financial responsibilities of owning a property.

The rental sector offers a solution to this problem so now is the time for investors to take advantage of a rental market being fuelled by a growing consumer demand, with confidence in the support of their brokers and lenders who are always one step ahead of the game.


Halifax hikes SVR

Halifax has raised its standard variable rate from 6.50% to 6.75%, following the recent rise in the base rate.

5.8m donated through affinity accounts

The Building Societies Association has revealed 5.8m was donated to various causes through affinity accounts in 2005.The figure comes from a survey conducted amongst BSA members, and is the first ever research into affinity accounts.Primarily offered by building societies, affinity accounts allow people to automatically donate part of the interest on their accounts to sports […]

FP Advance to provide transition planning services

Brett Davidson has launched FP Advance, a company focused on the provision of transition planning services to adviser firms across the UK. Headed-up Davidson, one of the countrys leading consultants and speakers in the field, FP Advance will provide specialist advice and training to advisers, networks, nationals, and wrap or product providers looking to develop […]

Wriglesworth should get out into the real mortgage world

From Ian Rogers Regarding a news story in your July 31 edition headlined ‘Potential FTBs save too little for deposits’, you should know that we at Cams had a really good laugh at the piece, especially at the contribution of John Wriglesworth who clearly comes from the planet Zog. We straw poll our leads for […]

What attendees thought of the LendInvest Property Development Academy

LendInvest ran its first Property Development Academy in London last month. Attendees from all over the UK gathered to learn how to better equip themselves with the skills they need to grow their property development portfolios. Speakers from CBRE, Gleeds, Arcadis, Gowling, Residential Edge and AZ Urban Studio gave their insights into their respective fields […]


News and expert analysis straight to your inbox

Sign up