The directors of Anderson Harris are regularly asked for expert commentary in the national press. Below are some of their most recent mentions.
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Some lenders, such as NatWest and HSBC, have already raised mortgage rates in anticipation of a base rate increase. Jonathan Harris of Anderson Harris, said: ‘The market is ticking along, with those needing to buy and sell getting on and doing it. Cheap mortgage rates have helped focus borrowers’ minds, particularly as there have been strong hints that interest rates may rise at the Bank’s meeting this Thursday.’
The Times30th October 2017
First-time buyers are already facing interest-rate rises on mortgage deals as banks anticipate a rise in the base rate. Jonathan Harris of Anderson Harris says that millennials need to move fast to secure one of the cheapest deals.
The Times28th October 2017
About 5m British households are paying their lender’s standard variable rate, which averages 3.99 per cent. But it is worth checking whether you can switch to a cheaper deal. The broker Anderson Harris recommends Santander’s two-year fixed rate of 1.09%, which is available for loans worth up to a maximum of 75% of the value of the property. The deal carries a £1,499 arrangement fee.
The Sunday Times22nd October 2017
A Times reader wants to know whether to pay off their Help to Buy loan early. Jonathan Harris of Anderson Harris, says: ‘Help to Buy has allowed you to get on the property ladder. It is good that you have more than sufficient income to service the mortgage and other monthly expenditure. This gives you options when assessing whether to repay the equity Help to Buy loan.
‘Using your savings to repay the loan would leave you with no spare cash and no immediate benefit because there is no interest chargeable during the first five years of the loan.’
The Times21st October 2017
What’s the best way to downsize if you are in your seventies? Jonathan Harris of Anderson Harris, says: ‘Obtaining a buy-to-let mortgage will be difficult unless there are significant income streams from pensions and investments to demonstrate to the lender that you can afford it. It may be worth considering an equity release mortgage against the main residence. But take tax advice before doing so – and repay the equity release loan upon the sale of your present home.’
The Times14th October 2017
Several lenders have begun to specialise in helping self-employed borrowers with more complex incomes including those with multiple jobs, who work on contract or whose income comes from multiple sources. Jonathan Harris of Anderson Harris, said: ‘This is a sector that has been poorly represented and supported by mortgage lenders for some time. The main issue has been a general lack of understanding from lenders regarding the way that the self-employed take their income and minimise unnecessary personal tax. However, lenders have upped their game, recognising that the self-employed are heavily invested in their businesses and therefore represent a low risk to them.’
This is Money6th October 2017
Lenders more inclined to look favourably on the self-employed include Santander, Metro Bank and Kensington, according to mortgage broker Anderson Harris.
The Sunday Times1st October 2017
It is in lenders’ interests to offer more two-year fixes, says Adrian Anderson of Anderson Harris. ‘Long-term fixed-rate mortgages are better value than short-term deals. With appetite among borrowers strong for five-year fixes, there is less need for lenders to provide further long-term options. So, there is a tendency to offer attractive short-term fixes in order to balance the overall lending book.’
The Times30th September 2017
With lenders requiring bigger deposits to access the cheapest mortgage rates, the more you can put down, the cheaper your mortgage will be, says Jonathan Harris of Anderson Harris.
The Times23rd September 2017
One criticism of the mortgage broker app Habito is that it removes the human touch. Jonathan Harris of Anderson Harris, says: ‘There are so many additional criteria that are required nowadays in a mortgage market search. For example, the type of employment/self-employment, how income is made up, the type of contract, the type of property.’
BBC News18th September 2017