Mortgage Broker Manchester

The team at Search Mortgage Birmingham would like to wish all of our customers and readers a very merry Christmas and happy New Year! We hope you have a fantastic day – especially if you’ve recently moved into a new home after securing a mortgage with our help.
Looking back at our year, 2014 has been incredibly successful for us. As a mortgage broker in Birmingham we have provided a large range of customers with excellent advice in regards to mortgaging and re-mortgaging. It doesn’t seem like a year ago since last Christmas; the time really has flown by!
We’ve seen highs and lows in the home buying industry; despite this we have been committed to our clientele, providing first class, quality services. We hope that in 2015 we will go from strength to strength and we will be able to help more and more people secure a mortgage.
We are excited to provide more and more first time buyers with the means to get the keys to their very first home, or help you to buy your dream home – we really are passionate about what we do and are dedicated to upholding the highest possible standards. We treat all of our customers fairly and all of our mortgage advisors are exceptionally experienced.
Wherever you are and whoever you’re spending the festive period with, we hope that you have a marvellous time; so again we would like to wish you, our customers, a very happy Christmas and an amazing New Year!
At Search Mortgage Birmingham, we believe in providing all customers with the same dedicated services, no matter what the circumstance. If you would like more information in regards to our mortgage advice and services, please get in contact with us – we will be more than happy to help!
Call us on 0121 231 3115, 0800 756 7794 or 0330 123 1077 to speak to us today!

Getting onto the UK property ladder is a difficult task for many families across the country. You only need to take a cursory glance at the news to see that there’s always something floating around to do with record-breaking house prices, and, although many now expect that 2015 may finally begin to reverse this trend, it’s still making life hard for many prospective home-buyers. Scarce wonder, then, that so many people depend on renting when it comes to securing property, and in the recent news our home city of Leeds has been identified as one of the most affordable places to rent of all.
The Third Most Affordable Place to Rent…
According to The Independent, the most affordable two places to rent in the whole UK are Cardiff and Plymouth, and Leeds rounds out that top three. Apparently, residents of Leeds can claim to lose a relatively small proportion of their income to rent; only surrendering 29% of their wages to this end. When compared to places like London, where renting families can expect to see almost half of their earnings vanishing each month due to rent, that’s a colossal reduction that’s worth noting.
…But Still People Want to Buy
However, it’s fair to say that not everyone is looking to rent property. Many people rent as a matter of necessity to get themselves onto the property ladder, but always hold out in the hope that, one day, they will have a house that they can truly call their own. Renting does offer a number of restrictions, after all, and at the end of the day there’s a fundamental sense of satisfaction when you feel that you can really call a house ‘yours’. Frequently, the moment when you purchase a house is numbered among the most significant milestones in your life. Yet, despite many government initiatives to encourage first time buyers, we’re still a long way short of the desirable situation.
Moving Away From Renting…
So, what do you do if you live in a city like Leeds, but aren’t looking to rent? The key will always be your choice of mortgage. Unless you can keep up with your payments, your newly obtained home could quickly be repossessed, hence the choice for many people to rent. That’s no reason to give up on the idea of a mortgage though; it just depends on finding the best deal. Here at Search Mortgage Solutions, we function as a professional mortgage broker in Leeds, and so we’re dedicated to finding the ideal mortgage to suit your needs. We’ve many years of proven experience, so contact us now by calling 0113 367 2899 or email enquiry@searchmortgagesolutions.co.uk to find out more.

According to a number of reports this week, mortgage lending has fallen for the fourth consecutive month in a row, in what is a further sign that the property market here in the UK may be showing signs of ailing.
According to The Guardian, The Council of Mortgage Lenders (CML) announced this week that gross mortgage lending in November totalled £16.9 billion, and was down 9% in comparison to October’s figure. This is also the lowest figure recorded since April of this year, and the fall has seen mortgage activity return to almost the same level as that recorded at the end of 2013. A key factor thought to be contributing to the lower rates of mortgage lending is the introduction of tougher mortgage rules earlier this year, which require lenders to perform more stringent checks on mortgage applicants.
As reported by the BBC, the CML has also cautioned that they expect lending to rise at a slower rate than that observed during 2014. The trade body also announced that they anticipate that the number of homes sold in 2015 and 2016 will slow slightly, adding that a “gentle trajectory” for the mortgage market here in the UK would help to calm any fears over the effects of a potential housing boom.
Significantly, according to ThisisMoney, the CML believe that these findings suggest that the housing market may be calming. Indeed, they quote an economist from the CML as stating:”House purchase approvals have now fallen for four months in a row. Property transactions are back down to their levels of about a year ago. Coupled with a continuing fall in the annual growth rate of most house price indices, the market appears to be settled.”
Despite these predictions forecasting a cooling of the housing market, the recently unveiled reforms to the stamp duty system, announced in the Chancellor’s autumn statement, are in fact expected to boost activity in the housing market, and increase house prices in the months ahead. Hence, it will be interesting to see what course the properly market here in the UK will ultimately take in the months, and indeed years ahead.
Reports such as these highlight how tricky navigating the property market can be. If you’re looking for a mortgage broker in Birmingham, then here at Search Mortgage Solutions, our Birmingham-based mortgage advisors can provide you with expert advice, and help you to find the most appropriate mortgage for you. For more information please don’t hesitate to contact us today, and a member of our knowledgeable team will be happy to help you with your enquiries.

4 December 2014 | By Devraj Ray
Chief Treasury secretary Danny Alexander has recommended the Government commissions the building of new homes on state-owned land in a bid to tackle the housing crisis.
The Financial Times reports that Alexander this week gave the example of former RAF base Northstowe as a potential building site for 10,000 homes, adding this was being “examined as a solution for the country as a whole.”
The proposals would see the Homes and Community Agency direct the sourcing of building sites and commissioning the building of thousands of new homes, some of which would be built as affordable housing. The Government would then retain any profits made from the sale of these homes.
Currently, around 150,000 homes are constructed each year and industry experts have stated that at least 200,000 are needed each year to tackle the UK’s housing shortage.

The property market seems to have been slowing down in recent months, but as the year draws to a close, the question on everyone’s lips is “what will happen next year?” It is thought that house prices will continue to drop next year, and today we’ll look at a few of the reasons for this reduction.
A Strong Pound
2015 is set to be a year with a stronger pound, with the euro expected to weaken. This could affect house prices as in the past. Foreign investors have been attracted to the UK for its weak currency, but, with the strengthening of the pound, investing in the UK will be less attractive, causing house prices to drop.
Expensive Mortgages
In relation to interest rates, mortgages are currently very attractive and affordable. However, with possible higher interest rates, buyers will find themselves unable to afford property as they simply cannot commit to make repayments. This could result in house prices dropping in order to make them more affordable for buyers.
General Election
The next General Election will take place in May 2015, and with the possibility of another hung parliament, there will be a great deal of uncertainty leading up to and in the aftermath of the election, as a new government could alter our current housing policies. With the possibility of housing policies changing, there are a number of factors that could affect property prices. Buyers may decide to hold off on entering the property market until after May, so there could be less of a demand for houses until then.
Mortgage Restrictions
Mark Carney, Governor of the Bank of England, recently stated that house price rises pose a threat to the UK economy. This has resulted in restrictions being imposed on higher mortgages offered by banks. It is thought that these restrictions could become even tighter next year, which could in turn lead to a drop in prices.
Whatever happens, here at Search Mortgage Solutions London we’ll be providing our services as a mortgage broker in London. If you would like more information about any of our services, don’t hesitate to contact us on 0207 554 5685 and a member of our team will be happy to help.

In recent weeks, a number of reports have surfaced suggesting that the tougher mortgage rules introduced earlier this year may be causing significant problems for older buyers, who are said to be finding it increasingly difficult to secure mortgages.
The new mortgage rules, introduced in April of this year, require lenders to adopt a more stringent approach, and take further steps to prove their customers’ ability to pay off their loans.
According to The Independent, the Intermediary Mortgage Lenders Association (IMLA) has expressed concern that those applying for a loan, which is likely to remain outstanding once they reach retirement age, may be turned down. Consequently, it’s predicted that a growing number of older applicants could be facing a negative response.
This is because lenders need borrowers to prove they have a regular income that will allow them to make repayments. And banks are concerned that they cannot guarantee borrowers will be able to keep up with their mortgage payments once they’ve reached retirement, and are relying on a pension as their source of income.
Significantly, in recent years, due to factors such as rising house prices, there has been a trend towards longer mortgage terms. Additionally, more and more people are also waiting until later in life before getting onto to the property ladder, meaning that the number of people potentially affected is rising. According to some reports, even those in their 30’s could find themselves being turned down for a home loan, depending on the length of term they apply for.
One potential solution is for buyers to reduce the term of their mortgage, however, the downside of this is that they will likely face higher monthly repayments, leaving many older buyers facing a dilemma. Though, according to This is Money, the Financial Conduct Authority (FCA) has warned lenders against taking a “computer says no” attitude towards older borrowers.

If you are looking for a mortgage then here at Search Mortgage Solutions we can help. Our Manchester-based Mortgage advisors can give you the best advice, and find the most appropriate mortgage for you, to suit your individuals needs and requirements. So if you’re looking for a mortgage broker in Manchester please don’t hesitate to contact us, and a member of our expert team will be happy to help you with your enquiries.

News regarding property prices in London is seemingly never out of the headlines, and the past few weeks in particular have seen a number of interesting reports regarding the London housing market, following the recent stamp duty reforms.
In his recent Autumn statement the Chancellor George Osborne unveiled plans for sweeping changes to the stamp duty system. These changes have been welcomed by many, including a number of property experts, who predict it may provide a welcome boost to the UK’s property market, which had been showing signs of ailing of late.
However there’s one area of the country in particular where the changes to the stamp duty system have been welcomed less warmly, namely London.
According to The Telegraph, there are fears that the new system could trigger a collapse in the higher end of the London property market. This is because whilst the reforms are expected to cut stamp duty for 98% of buyers, the levy will in fact increase for homes worth more than £1.5 million. For example, an individual buying a property in central London for £1.5 million could be £18,750 worse off under the new system.
This is causing plenty of concern among property agents in London, who predict the luxury property market will be hit heavily by the changes, with estate agents forecasting that wealthy homeowners may be forced to cut the asking price of their properties in order to attract buyers.
The Chancellor’s announcement came as a surprise to many and triggered a panic among estate agents, with many scrambling to close deals before the changes came into effect in an attempt to save their clients money.
The stamp dusty reforms are also expected to have a noticeable impact at the lower end of the market too. As reported by the Financial Times, The Office for Budget Responsibility has estimated that these reforms could inflate house prices further. This could spell bad news for buyers, as there are also fears that lower down the market, this may counteract any savings buyers would have made thanks to the lower tax rate.
Reports such as these highlight the often unpredictable nature of the London property market, which can seem like a bit of a minefield to negotiate at times. However here at Search Mortgage Solutions we can help. If you’re looking for a mortgage broker in London, our London-based mortgage advisors can help you find the most appropriate mortgage for your individual needs and requirements. For more information about our services please don’t hesitate to contact us, and a member of our knowledgeable team will be happy to help you with your enquiries.

Recent weeks have seen a number of important announcements with regards to the property market here in the UK, such as the stamp duty cuts revealed in the Chancellors Autumn statement. These sweeping changes to the stamp duty system, which came into effect immediately, saw the old slab style system replaced with a graduated one that operates much in the same way as income tax.
According to The Guardian, the changes mean that buyers could ultimately make substantial savings. For example buyers purchasing a home worth £275,000 would be expected to pay £4,500 less in tax than under the previous system.
Significantly, the Chancellor’s announcement has come in the wake of several indications of late that the housing market here in the UK is showing signs of ailing, after a period of relative boom earlier in the year. For example, there have been a number of reports in recent months suggesting that house prices are falling once again, and furthermore that there has also been a reduction in interest from new buyers, signifying that the housing market may be losing some of its momentum.
However, these reforms are thought to have the potential to have a positive impact on the housing market here in the UK, and have been welcomed by many. Indeed according to The Telegraph, the changes to the stamp duty system are predicted to give the housing market a much-needed boost. As outlined in the article, a leading survey of property agents from the Royal Institution of Chartered Surveyors has revealed that these experts believe there could be an increase in sales of up to 5pc over the course of the next 12 months, as homeowners put their properties back on the market in the hopes of achieving a higher price and quicker sale.

This week has seen a number of fresh reports regarding the property market here in the UK, with new data released by the Office of National Statistics (ONS) revealing that there was a rise of 12.1% in property prices in the year up to September 2014. Perhaps not surprisingly, the fastest growth was seen in London, where there was an 18.8% annual rise in house prices according to these new figures.
However as reported by the BBC this in many ways stands in direct contrast to recent data from other sources such as Nationwide and Halifax, which had in fact suggested that house price growth had slowed in the 12 months leading up to the end of October, in line with a number of other indications that the property market may be cooling.
A potential reason for this discrepancy could lie in the type of figures being looked at. For example as pointed out by The Guardian looking at the average house prices rather than year on year rises paints a rather different picture, given that the data from the ONS also revealed that the average house price in September was £273,000, which is representative of a decrease when compared with the record figure of £274,000 set in August.
The article quotes the ONS as stating that “this month has seen house prices in a number of regions fall back from the record levels witnessed in August 2014. Only house prices in the East of England remain at record levels.”
Additionally experts also believe that storm clouds may be gathering for the UK property market, with some suggesting that political factors, such as the build-up to the general election, may bring with it a dampening of the residential property market.
Reports such as these highlight the often volatile nature of the property market, which can make it difficult for potential buyers to get a foothold on the property ladder. However here at Search Mortgage Solutions we can help. So if you’re looking for a mortgage broker in Liverpool then please do not hesitate to contact us and a member of our friendly team will be happy to help you with your enquiries.

According to a report from the BBC this week there has been a drop in mortgage lending to first time buyers, and mortgage brokers believe that this likely reflects a drop in confidence among potential buyers. The article points to data from the Council of Mortgage Lenders (CML) which revealed that the number of loans approved to first time buyers was 26,800 in September, representing a 3% decrease compared with the previous month’s figures. However despite this, they were quick to point out that these figures are still much higher than the same period last year.
The Telegraph also revealed this week that the number of first time buyers also fell in September this year. This is thought to be related to the fact that banks are charging first time buyers a penalty of £2,800 a year ( the highest since records began in 1995) for putting down smaller deposits, leading to a decline in the number of first times buyers getting onto the property ladder.
There are also indications that changes in the housing market may be more widespread. According to the Financial Times, data has shown that lending to home buyers more generally also decreased by 7% in September to 58,000 loans, suggesting that the mortgage market may be cooling.
The article quotes Director General of the CML as stating that “Fears that the market is going to keep on overheating have rather gone away. The market seems in a much more stable pattern at the moment. I think what a lot of people are thinking about is that the next move in interest rates is going to be up, so there is perhaps a bit of caution around about people overextending themselves.”
This news is the latest in a series of indications suggesting that the housing market may be cooling down after a period of relative boom earlier this year, which had led to fears we may be on the brink of a property bubble.
Whether you are a first time buyer or the owner of an existing property, here at Search Mortgage Solutions we can help. Our Leeds-based mortgage advisors are mortgage experts and can help you find the right mortgage for you to meet your individual requirements. So if you’re looking for a mortgage broker in Leeds please do not hesitate to contact us and a member of our knowledgeable team will be happy to help you with your enquiries.