Wow, what a week!
It's good and bad news though. The good news is that the mortgage market
is really buoyant with good business volumes, product choice at it's highest
for some years and properties selling quickly (sometimes before they make the
papers and above the asking price). The bad news is that this is causing a
number of lenders major servicing problems as they do not have the staff to
handle application numbers. One we know
of is working on applications submitted three weeks ago! We also have had delays on valuations with
some surveyors taking up to two weeks to book an appointment. Unfortunately lenders have agreements with
certain surveyor companies and they have to undertake the valuation, no matter
what the delay in actually carrying out the appointment. There is no shame in being open about these
delays as they should be taken in to account whether buying, or selling a
property and this helps everyone manage expectations.
That said and even with the delays, now is a good time to
review your current mortgage and possibly obtain a great rate with minimal (if
any) costs to change your mortgage. Whether you want to fix your monthly
payments for a period of time, or you fancy a low rate tracker mortgage, or
maybe both - a tracker rate with the option to fix later on, there are plenty
of great products currently available.
Terms and conditions will always apply.
Finally, I have to say what a fantastic job Horsham Rotary
are doing with the Elephantastic trail!
Over 150 Elephants of all sizes have been bought and decorated by local
organisations. These are now on display
and children should follow the safari trails to locate the Elephants nickname
with the major prize being a trip to Kenya ! There have been some amazing works of art and
I'm sure they will make a lot of money for some worthwhile charities. Search
"Elephantastic Horsham" to find out more. The big question is, after
the Giraffes last year and Elephants this year, what will be next -
Alpacas!?
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