Unexpected decline interrupts recovery in housing market activity

UK mortgage approvals fall in November

Rolling coverage of the latest economic and financial news as Bank of England figures point to an economic slowdown

Disappointing UK mortgage and consumer loan data adds to UK economic gloom – business live

Bluestone Mortgages made the decision last week to pull all its pre offer rates after telling brokers the scale of rises in swap rates had made its pipeline sub economic

Mortgage lender pulls pre-offer rates as borrowers face 8% interest

Following the Nationwide August House Price Index published this morning industry experts have reacted. Ross Boyd, founder of the always-on mortgage comparison

Nationwide House Price Index: “Obscene rise in energy bills is something that needs to be proactively addressed by lenders” - reaction

Experts are split on whether chaos in Westminster could halt house price rises

Will Boris Johnson’s resignation affect house prices?

The Nationwide House Price Index for March was published this morning, showing a jaw-dropping yearly increase of 14.3% in UK house prices. On a month-on

UK House prices go from semi-detached to totally detached from reality as experts comment

HOUSE prices are defying predictions of a slowdown as desperate buyers bid up offers even in the face of soaring living costs and an economy biffed by war and inflation. A “race for space” means London prices are growing more slowly than other regions, though it remains the most expensive area in t…

House prices defy slowdown predictions to rise at fastest for 17 years

HOUSE prices are defying predictions of a slowdown as desperate buyers bid up offers even in the face of soaring living costs and an economy biffed by war and inflation.

I am a customer centric, experienced Fee Free mortgage and protection expert who specialises in all mortgage types.

mortgages

property

entrepreneurship

financial services

residential property

insurance

technology

politics

Charles Yuille

facebook

instagram

linkedin

<h3>A young family based in Bath, who were given the life-changing opportunity to buy their rental property from the local authority, have seen their dream shattered by a lender that has failed to honour the rate that was applied for and secured weeks previously.</h3>The client's mortgage product and rate had been agreed and they were just days away from getting a binding mortgage offer. But at the eleventh hour, the lender in question, Bluestone Mortgages, changed their mortgage rate to an astronomical 8.75%, putting the young family's dream of homeownership firmly out of reach.The family are no longer able to buy their rental property from the housing association and, to cap it all off, have lost money on valuation fees as a result.Bluestone Mortgages said the reason for its mortgage rate U-turn was the fact it has been overwhelmed by the sheer volume of business it has taken on, resulting in delays on their side, and “economic turbulence”.But unlike other lenders, and in what may well be a first, they have made the decision to not honour rates that have been applied for and secured weeks prior. This is the first case of this kind Charles Yuille of Bath-based <a target="_blank" rel="noopener noreferrer" href="https://www.willowbrookmortgages.co.uk">Willow Brook Mortgages</a> has ever have seen.Other lenders and big banks are all standing by clients at this time and honouring rates previously offered despite rising rates and the extreme economic turbulence.Charles Yuille, Director of Willow Brook Mortgages, commented:<blockquote>At a time when all lenders are repricing, the vast majority are at least honouring rates that have previously been offered. The decision to change rates on cases that have been in processing for weeks, as Bluestone Mortgages have done, is a dark day for the UK mortgage sector. This kind of act has a huge emotional and financial impact on people. Trust is something banks have fought to regain from the public, but lenders like Bluestone mortgages will find this trust is now lost permanently.</blockquote>

has been added

Address

Media Pack / Portfolio

Charles Yuille

Media Coverage