-
As a farmer and a property investor I can see areas I need to develop. Property Mentor has boosted my confidence to a new level and I'm looking forward to my future property deals
Phil Robinson, March 2010 Read More Testimonials -
Having had great concerns about becoming a Property Mentor delegate and attending the Workshop, I now feel much more confident about starting up in property investment and can see that with commitment and effort it could be a very viable business
Steve Dodd, March 2010 Read More Testimonials -
Learning how to research the area(s) I am interested in and how to stack the properties will give me the confidence to know I will be able to afford the deals I go for. This means I will be able to fulfil my dream to invest in property and become financially free.
Lesley Adam, March 2010 Read More Testimonials -
The Workshop covered a much wider spectrum and much more thoroughly than other courses I have attended. It has given me more confidence to invest in property
Chris Pennington, March 2010 Read More Testimonials -
This course has been mind opening. I can now see a proven path to becoming wealthy and financially free
Luke Vincent, February 2010 Read More Testimonials -
Before attending Property Mentor I had no idea of the different strategies that are available. I now have a clear strategy to start my journey to financial freedom...Yipee!!
Tim Rutland-Dix, February 2010 Read More Testimonials -
Knowledge is King and the knowledge I learned would have taken forever without Property Mentor
Khush Nathadnaravake, February 2010 Read More Testimonials -
I've wanted to invest in property for three years. I now have the knowledge, the confidence, the tools and the Property Mentor support to succeed. My future is mapped out from today. The future is positive
Crookall, February 2010 Read More Testimonials -
A highly rewarding few days where I learnt a lot of new information and skills. I now have the confidence to go forward and take my first steps in property investing, confident that the Property Mentor team will be there to support me
Sean Stabb, February 2010 Read More Testimonials -
I was impressed with the Taster evening and the Property Mentor Workshop was excellent. It opened my mind to a whole new concept of buying property and getting maximum cashflow. Thank you.
Sarah-Jane Rootham, February 2010 Read More Testimonials -
Brilliant! Everything I was looking for to start my life. To free myself and my mind from the illusion that it is impossible and only other people do it!
Mark Williams, January 2010 Read More Testimonials -
I am confident the Workshop weekend will be the catalyst to creating financial freedom. The Property Mentor system is very simple and with a little application it will change my life
Philip Terry, January 2010 Read More Testimonials
Property News
Halifax reveal record-breaking property price increases of 91 pounds per day on average detached ...
London property investors witness 8 percent increases in rents, following growing bidding wars ...
New government Feed-in-Tariff scheme offers property owners payments of up to 600 pounds if they ...
Property News Archive
Property Articles
Property advisors wonder: are moving property owners ready for the busiest move date of the year?
5 top tips for giving your rental property the instant kerb appeal it needs to attract potential tenants
3 beautiful UK properties made famous by film and television enter onto the property market
Property Articles Archive
Fixed Rate Mortgage Rise
Fixed Rate Mortgages are becoming even more expensive according to BBC News. In as little as a week Abbey National has put up their fixed rates by 0.25% to 0.5%.
Yet they are not the only ones. Following Nationwide’s increase of up to 0.86% - on their fixed loans – last week, more banks have followed suite including Lloyd’s TSB and Alliance & Leicester.
More big lenders have increased the cost of their fixed-rate mortgages for new borrowers.
The Abbey, the UK's second biggest mortgage lender, has put up the cost of its fixed-rate deals by between 0.25% and 0.5%.
Lloyds banking group has also made some of its fixed-rate deals more expensive.
The trend started last week when the Nationwide building society raised the cost of all its fixed-rate home loans by up to 0.86%.
The main factor behind the changes has been the increasing cost of swap rates.
These are the fixed rates at which banks and building societies borrow money from each other, for specified periods of time, to fund these particular mortgage deals.
"Swap rates have increased substantially in May and June and in particular last week," said Nici Audhlam-Gardiner, director of mortgages for the Abbey and the Alliance & Leicester, both run by the Spanish bank Santander.
"Following competitor moves and further swap rate increases, it has become necessary to increase the rates on some of the deals we offer," she added.
Going up
Other lenders which have taken similar steps recently are the Woolwich (part of Barclays), Northern Rock, Cheltenham & Gloucester (part of Lloyds) and the Halifax (also now part of Lloyds).
Fixed-rate deals have become very popular again in the past few months.
During April 69% of all new home loans were at fixed-rates, according to the Council of Mortgage Lenders (CML).
With the Bank of England's Bank rate still at a record low of just 0.5%, the expectation is that the official cost of borrowing can only go up when it is next changed. Some suggest therefore it may now be a good time to fix the cost of a home loan.
"People thinking of taking out a fixed-rate should not delay, but should move as quickly as possible," said Melanie Bien, of mortgage brokers Savills Private Finance.
"I think rates will go higher still."
According to the financial information service Moneyfacts, the average cost of a two-year fixed-rate loan, for someone with a 25% deposit, is currently 4.28%.
For borrowers who can only put down a 10% deposit the average rate is higher at 6.06%.
More about the author of this article
Peter Franklin, Property Mentor Delegate
With 15+ years of property investment experience under his belt and an extensive knowledge of stocks and shares, Peter Franklin has learnt how to make a profit the hard way. If he has learnt anything from his time investing in property in the early 1990’s, right through to the height of the property boom of 2007, it is the importance of using proven investment strategies. Read more
To see a full list of our writers and find out more about them please visit the authors page.
How Property Mentor Can Help You
Keeping you up to date with the latest property investment news is just one of many ways that we ensure all of our investors get the most from their properties. On our FREE property courses we will show you how we made a success of investing in property, and what you need to do to replicate this success.
The strategies that we teach apply to everyone - if you are new to property you need all the advice you can get, and if you are an experienced investor you never stop learning.
Find your local course
To find one of our FREE property investment courses near you simply enter your postcode below.
Use our Postcode Checker to find our next course near you. Book a place now to find out how we did it and how our regular mentoring days will ensure that you are ALWAYS at the top of your investment game!
Reference Code:
Events Coming Soon
Yorkshire & the Humber - 02nd Sep
London - North - 02nd Sep
London - Central - 02nd Sep
Scotland (South) - 03rd Sep
West Midlands - 04th Sep
London - Central - 04th Sep
London - West - 05th Sep
Recent Testimonials
"I didn't realise it would be this good, great!" view testimonial
"I found it really informative especially the networking"... view testimonial
"I have now learnt a whole new way of doing things"... view testimonial
"I feel there's always something to learn and it's a fantastic"... view testimonial