2012 – REASONS TO BE CHEERFUL

Not many if the world’s press is to be believed! Unkind, to many, 2011 saw property and stock market indices in the UK ‘flatline’. 2012 looks set to mirror that. ‘Masters of the Universe’, Goldman Sachs (Sucks?) predict a rocky start to the Stock Market this year with a mid year recovery, ending the year at today’s level. Still, what do they know? Last year they predicted a year end FTSE 100 figure at 6,800. The actual was 5,500! HSBC, Morgan Stanley, Credit Suisse all forecast year end levels of circa 6,400 – Masters of Nothing!

Thankfully UK Bank Base Rate has remained at .5%, great for those with tracker mortgages but terrible for savers. Of course, early in 2011 our banking giants did their best to entice new borrowers and refinancers into their fixed rate packages with threats of imminent rate rises. Well, they would do as they make more profit from fixed rate loans and more money from capital and interest mortgages rather than interest only ones – hence the scarcity of interest only facilities. It is now widely predicted that we can expect low rates well into 2014.

Why can’t the Mutual Building Societies get the message across that they are perfectly capable of providing the day to day facilities most savers and borrowers need, on more competitive terms than the greedy profit obsessed banks? Currently we are negotiating with three mutual building societies to add to our lending panel. One of these is putting the finishing touches to a very competitive expat arrangement to complement our lending exclusive with the Ipswich Building Society now in its fifth year. Our semi exclusive with RBS International, who in recognition of the volume and quality of the business we send them, will trim their arrangement fees by 50% for our introductions.



Adrian Wright
January 2012

Mortgage Enquiry Form      Back to IMP Homepage