September signals Back to School for families and is often a time for many people to evaluate their life priorities and expenditure. The autumn is usually one of our busiest times of the year with first-time buyers entering the market plus homeowners moving house or remortgaging. With less than four months until Christmas, now is the time to take action!
If your current mortgage rate is due for renewal, don’t wait! We can secure rates up to six months in advance, and there are some great deals on offer right now. Simply send us your name, contact details and your rate end date. We’ll get in touch and do the rest for you. We can save you time, money and stress!
TEAM News & Updates
Welcome Olga & Gaurav to the team!
OLGA BOGDANOVA - Mortgage & Protection Adviser
Olga is an exceptional new addition to the Stratton Thorpe Mortgage Solutions team. Based in the Bicester area of Oxfordshire, she holds the full CeMAP Certificate in Mortgage Advice and Practice.
Before her career in mortgage advice, Olga worked in high-end fashion for global clothing brands and managed over seventy team members. She has over ten years of experience in customer service roles and appreciates the importance of exceeding client expectations.
Olga is married with two young children and is a bilingual speaker of fluent Russian and English.
““I feel lucky to be a part of the Stratton Thorpe Mortgage Solution Team. Peter and Julian are great leaders who are supportive and allow me to help my clients to the very best of my ability.””
GS Mortgage & Protection Solutions joins our Extended Mortgage Broker Team
Gaurav Sharma is the founder of GS Mortgage & Protection Solutions. A highly experienced mortgage and protection consultant, Gaurav has over nine years of experience helping people to buy their dream homes and protect what is important to them.
Throughout his career, he has worked for HSBC, one of the world's largest banks and mortgage broker group Connells and Countrywide. Gaurav is qualified with a full CeMAP Certificate in Mortgage Advice and Practice as well as Financial Protection (R05) qualification.
““I build long-term and trusted relationships with my clients, and I am proud of my consistently high level of customer satisfaction.””
WELL DONE to Helen Gough, our Mortgage Processing Executive for successfully passing Level 1 CeMAP Certificate in Mortgage Advice. We are incredibly proud of your hard work and contribution to the Stratton Thorpe team. Congratulations
MORTGAGE NEWS & UPDATES
WANT TO BE in YOUR NEW HOME FOR CHRISTMAS?
The housing sales process slowed down in July with the average time from offer to exchange taking more than 17 weeks.
According to Propertymark’s housing report for July, a record 41 per cent of estate agents reported this extended timescale. This is significantly above the pre-pandemic average between 2015 and 2019, when just six per cent of agents said the period from offer to exchange took that long.
Nathan Emerson, chief executive of Propertymark, said: “Our latest data shows a sharp spike in the number of agents reporting the average time taken for sales to complete being 17 weeks or longer.
“This, coupled with lack of stock and high demand in the market, is proving difficult for some first-time buyers or current homeowners as an existing mortgage in principle obtained before setting out to view a property will likely expire before completing on the purchase.”
There was a dip in new buyers registering with estate agents, with respondents citing an average of 62 people per branch. This was down from 75 in June.
The association attributed this to people focusing on summer and their holidays.
SOURCE - MORTGAGE STRATEGY
Lenders in no rush to scrap Bank of England’s stress test
Lenders are no longer obliged to stress test borrowers from 1st August, but many providers are expected to carry on using the measure regardless.
The Bank of England announced in June it would scrap the affordability test, which examines whether borrowers could afford a three per cent rise in interest rates.
The move has been celebrated as making it easier for some borrowers to get on the ladder.
However, with interest rates rising at the fastest pace in decades, it seems lenders are reluctant to let go of the measure just yet.
Santander confirmed to Mortgage Solutions there would be no immediate change in the way it assesses applications.
A spokeswoman said: “We are continuing to review the Financial Policy Committee’s recommendations and will inform our customers and brokers of any changes to our stress rates.”
Barclays, Halifax and HSBC did not return a request for comment on the issue, while NatWest and Nationwide said the information was commercially sensitive.
SOURCE - MORTGAGE SOLUTIONS
Flexible appointments to suit your busy lives
Unlike Dolly Parton, we don't work 9-5! We offer flexible appointments to accommodate your busy lives
7 days a week - Monday to Sunday meetings available
AM & PM - Mornings, Daytime & Evenings appointments to fit around your work, childcare, and life commitments
Flexible locations - Face-to-face at a place most convenient to you, for instance your home or workplace
Hassle-free - Escape the town centre hustle and hassle of public transport and parking
Telephone or video calls if you prefer
House prices edge higher in July: Nationwide
UK house annual price growth “increased slightly” to 11% in July leaving the average price of a home at £271,209, according to Nationwide.
This figure is a lift from 10.7% in the year to June, says the mutual’s July House Price Index, with prices edging up by 0.1% last month.
This is the 12th monthly increase in a row, keeping annual price growth in double digits for the ninth month in a row.
The index says that “strong labour market conditions, where the unemployment rate remains near 50-year lows” and “the limited stock of homes on the market” have kept prices high despite a growing cost of living crisis.
SOURCE - MORTGAGE STRATEGY
Earn £50 for every person you refer to stratton Thorpe
We know there is no higher praise than recommending us to your friends and family. Our referral scheme is our way of saying thank you to our loyal clients. Recommend Stratton Thorpe Mortgage Solutions and receive a £50 Amazon voucher as a thank you.
Find out more about how you can qualify and start referring today.
Number of homeowners signing up for property alert scheme increases 300%
There has been a 300% increase in the number of homeowners signing up for a property alert scheme to protect against fraudulent property transactions, according to Thirdfort.
Some 135,624 property owners registered for the free HM Land Registry’s Property Alert Service in 2021, compared with 46,043 in 2020.
Thirdfort reveals that more than 110,000 have already signed up this year.
The property alert service allows property owners to register up to 10 properties.
The rise in registrations suggests that homeowners are increasingly concerned about the risk of fraud, following figures in recent years.
According to the Freedom of Information (FOI) data, 515,709 property owners in total have now signed up for the free service since its launch in 2014.
SOURCE - MORTGAGE STRATEGY
CLIENT REVIEWS
It is becoming increasingly important for local businesses to have an online presence and customer feedback is vital. This is not just for advertising purposes; clients like yourself trust peer-to-peer reviews and wish to research our company in advance. As consumers, its common place to review restaurants, goods, services, hotels and mortgage brokers are no different! We’d really appreciate your involvement - see here for details and how to leave us a Google Review
free Life Insurance quote in 60 seconds
We have recently launched our brand-new Life Insurance free online quote service. Through our website, you can now get an instant life insurance quote that is quick, simple and free. Our life insurance calculator can help you work out how much cover you may need to protect your loved ones and keep your home safe should the unexpected happen. Simply enter a few details about your lifestyle and living circumstances to find out how much cover is right for you.
· Quick, simple and FREE
· Get an instant quote in less than 60 seconds
· Easy online quote process to provide you with an idea of costs
· Search and compare quotes for products based on an analysis of a number of insurers
· Find out about the free additional benefits available
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