After the Baa Baa’s…
These past 3 weeks have been extremely surreal. I have been busy jumping through all sorts of bureaucratic red tape with the banks so that I can to get myself registered as an official mortgage advisor. As well as this, I managed to squeeze in a sneaky week with the Barbarians for their matches against Ireland and Wales despite supposedly being retired!
It was a shame that I wasn’t needed for either match but it would have been a very early “comeback” from retirement!
You never know, other opportunities may pop up in the future; maybe a ‘vets’ game beckons. Who knows what the future will hold?
It was a great experience being surrounded by world-class players again and being involved for all intents and purposes in a test match week. The only downside was that it put my progress in the start up of my business back by at least a week.
I’ve had 4 years experience as an advisor already and I can honestly say that with the economic situation the way it is, this is probably the worst time to be getting a mortgage. As a result of this it is even more important to seek the advice from a professional who knows their way around the market.
I’m not trying to give the hard sell but I find it frustrating when people come to me saying “but money supermarket says there’s this rate…” Especially as I know I can often get them a better deal and some sites aren’t always accurate with hidden fees thrown in for good measure. With me you’ll get the personal touch; No hidden fees, Free no-obligation-to-buy advice. Instead of a call centre you’ll get a real person at the other end of the line and someone who will drop in to see you at your house (especially if a cup of tea and a biscuit is on offer). Not only that but I get updated rates by the banks on a daily basis. If I can’t get the rate you want then the likelihood is that it isn’t out there!
Although it is really tough in the minefield that is the house-buying market presently, especially for 1st time buyers, there is some relief that banks are actually lending. Maybe not as much as they were but it’s nice to know that there are a few 95% Loan to Value (LTV) mortgages around, (although you will end up paying over 5%). The Newbuy scheme has started to enable 1st time buyers the ability to get on the property ladder again.
If you have a little more saved up you might be able to afford a 10% deposit. You see some good interest rates around 4.6%.
Obviously it is not only 1st time buyers that might be looking for a mortgage. Many people have gone past their ‘tie in’ periods and are now on the banks standard variable rate (SVR). This is fine. There are some SVR’s that have relatively low percentage rates and switching to a fixed or new tracker rate may actually put your payments up slightly (this is by no means always the case).
However, the question is, when do you decide to tie yourself into a new mortgage with a different bank? If I had a crystal ball I think I’d be a millionaire! The problem is going to be when the inevitable rise in interest rates occurs. This means that if you don’t act soon, then there may come a time when you are forced to get an 8% mortgage as opposed to the 4.5% rates that are available at the moment.
Basically, it’s a balancing act. Sit on your rate when it’s low but if you get a feel for rate rises, QUICK tie yourself in! *cough* call me!
Moving back to rugby. I am currently in negotiations with clubs for coaching roles. Maybe not at Premiership level but I am looking to cut my coaching teeth at a decent level. I’m desperately trying to only have my coaching boots on next season and not my playing boots! Although, I’ve decided to try my hand at American Football! 1st session is on Wednesday night. I’ve got a feeling I maybe cannon fodder.