Could it be a sign??

The latest Bank of England quarterly inflation report suggests that the economy will not now recover until the middle of 2010 (somewhat contradictory to Alistair Darlings recent budgetary prediction!). Analyst’s inflation review indicates that the Bank's base rate is likely to remain at 0.5% well into 2010. Therefore, a short term tracker rate with options to change to a fixed rate with no early redemption charges looks good. Generally known as an ‘all-weather’ product, a few lenders have previously offered this option, although Nationwide is currently the only lender with such an offering….at least for now!
This week, Rightmove.co.uk reported that sellers have increased asking prices by up to 2.4% during May in a bid to maintain their own position when buying. The average asking price is now £227,441 (against £222,077 in April). The Rightmove House Price Index for May shows that the jump in asking prices is the largest the property website has measured, for a single month, since 2003!
More positive news indicates that UK residential property sales have hit an 18-month high. Figures from the National Association of Estate Agents (NAEA) show that the average agency branch sold ten properties in April – compared with eight in March.
RBS (Royal Bank of Scotland) has changed its definition of New Build properties. Any property refurbished, modernised or altered since 1st January 2006 will now be classed as New Build. As a result, the maximum advance on these properties is now limited to 80% for residential and 65% for investment mortgages! This, from a lender who is seeking to lend a further £25bn over the next two years!
On the favourable side, the Abbey have increased their lending values from 60% to 70% on their competitively priced re-mortgages on 2, 3 and 5 year fixed rate products!
Congratulations to Lifestyle Ford of Horsham, who succeeded AToM in winning this years coveted West Sussex County Times Business of the Year Award. Well done!
Finally, you buy a car from a car specialist, flowers from a florist, so for all your mortgage requirements, why buy anywhere other than from your local mortgage specialist?