http://www.mortgagesforprofessionals.com/content Mortgages for Professionals Thu, 04 Dec 2008 14:47:52 +0000 http://wordpress.org/?v=2.2.3 en http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2-2/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2-2/#comments Thu, 04 Dec 2008 14:46:51 +0000 Mortgages For Professionals http://mortgagesforprofessionals.combase-rate-slashed-to-2% mortgages for professionals could benefit from today's cut in interest rates from three per cent to two per cent by the Bank of England, it has been suggested.

According to Michael Coogan, director general of the Council of Mortgage Lenders, all mortgage providers will try to pass on savings to consumers in the form of cheaper mortgage products.

But he warned that many lenders are faced with conflicting objectives, with the desire to cut borrowing rates checked by meeting the needs of savers and helping customers who are struggling to meet their repayments.

Mr Coogan commented: "It is not realistic to expect them all to react in the same way to the rate cut - although where they believe they can cut mortgage rates, they will."

All lenders and not just the major banks need to receive support from the government to limit the impact of the economic downturn on the housing market, he added.

During 2008, interest rates have been slashed from 5.5 per cent to their current level of two per cent - the lowest base rate since 1951.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> mortgages for professionals could benefit from today's cut in interest rates from three per cent to two per cent by the Bank of England, it has been suggested.

According to Michael Coogan, director general of the Council of Mortgage Lenders, all mortgage providers will try to pass on savings to consumers in the form of cheaper mortgage products.

But he warned that many lenders are faced with conflicting objectives, with the desire to cut borrowing rates checked by meeting the needs of savers and helping customers who are struggling to meet their repayments.

Mr Coogan commented: "It is not realistic to expect them all to react in the same way to the rate cut - although where they believe they can cut mortgage rates, they will."

All lenders and not just the major banks need to receive support from the government to limit the impact of the economic downturn on the housing market, he added.

During 2008, interest rates have been slashed from 5.5 per cent to their current level of two per cent - the lowest base rate since 1951.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2-2/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2/#comments Thu, 04 Dec 2008 14:46:51 +0000 Mortgages For Professionals http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2/ mortgages for professionals could benefit from today's cut in interest rates from three per cent to two per cent by the Bank of England, it has been suggested.

According to Michael Coogan, director general of the Council of Mortgage Lenders, all mortgage providers will try to pass on savings to consumers in the form of cheaper mortgage products.

But he warned that many lenders are faced with conflicting objectives, with the desire to cut borrowing rates checked by meeting the needs of savers and helping customers who are struggling to meet their repayments.

Mr Coogan commented: "It is not realistic to expect them all to react in the same way to the rate cut - although where they believe they can cut mortgage rates, they will."

All lenders and not just the major banks need to receive support from the government to limit the impact of the economic downturn on the housing market, he added.

During 2008, interest rates have been slashed from 5.5 per cent to their current level of two per cent - the lowest base rate since 1951.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> mortgages for professionals could benefit from today's cut in interest rates from three per cent to two per cent by the Bank of England, it has been suggested.

According to Michael Coogan, director general of the Council of Mortgage Lenders, all mortgage providers will try to pass on savings to consumers in the form of cheaper mortgage products.

But he warned that many lenders are faced with conflicting objectives, with the desire to cut borrowing rates checked by meeting the needs of savers and helping customers who are struggling to meet their repayments.

Mr Coogan commented: "It is not realistic to expect them all to react in the same way to the rate cut - although where they believe they can cut mortgage rates, they will."

All lenders and not just the major banks need to receive support from the government to limit the impact of the economic downturn on the housing market, he added.

During 2008, interest rates have been slashed from 5.5 per cent to their current level of two per cent - the lowest base rate since 1951.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/base-rate-slashed-to-2/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/rate-cuts-bring-income-boost-in-buy-to-let/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/rate-cuts-bring-income-boost-in-buy-to-let/#comments Thu, 04 Dec 2008 09:44:32 +0000 Mortgages For Professionals http://mortgagesforprofessionals.comrate-cuts-bring-income-boost-in-buy-to-let mortgages for professionals who are interested in buy-to-let should take advantage of current financial climate, it has been suggested.

According to the Young Group, falling interest rates have boosted income in the buy-to-let sector by about £1 billion and the Treasury has benefited from an extra £400 million in tax.

The Bank of England will announce its monthly base rate decision today, after cutting rates by 1.5 per cent in November and 0.5 per cent in October.

A poll of 11 experts by Adfero found respondents to be unanimous in their prediction of a rate cut today, with reductions from 0.5 per cent to one per cent forecast.

Young Group chief executive Neil Young said: "Buy-to-let is a sector that's sometimes unjustly maligned but not only does it fulfil a valuable role in providing quality housing stock, it also makes a significant contribution to the Treasury's tax revenues."

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]> mortgages for professionals who are interested in buy-to-let should take advantage of current financial climate, it has been suggested.

According to the Young Group, falling interest rates have boosted income in the buy-to-let sector by about £1 billion and the Treasury has benefited from an extra £400 million in tax.

The Bank of England will announce its monthly base rate decision today, after cutting rates by 1.5 per cent in November and 0.5 per cent in October.

A poll of 11 experts by Adfero found respondents to be unanimous in their prediction of a rate cut today, with reductions from 0.5 per cent to one per cent forecast.

Young Group chief executive Neil Young said: "Buy-to-let is a sector that's sometimes unjustly maligned but not only does it fulfil a valuable role in providing quality housing stock, it also makes a significant contribution to the Treasury's tax revenues."

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/04/rate-cuts-bring-income-boost-in-buy-to-let/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/cml-calls-for-targeted-govt-action/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/cml-calls-for-targeted-govt-action/#comments Wed, 03 Dec 2008 11:04:32 +0000 Mortgages For Professionals http://mortgagesforprofessionals.comcml-calls-for-targeted-govt-action
Michael Coogan, director general of the CML, speaking at the organisation's annual conference, said consumer borrowing will not return to the levels seen in 2007 even if funds increase and a wide variety of lenders become active in the mortgage market again.

He commented that "further targeted action" from the government is needed to help market participants or the industry will feel the affects of the recession in 2009.

Greater assistance to the mortgage market could boost liquidity and increase the range of deals available to potential borrowers of mortgages for professionals.

"A good outcome next year in my view would be if we had lending at levels seen in 2008, but bearing in mind we will be in a recession ... this would be a real challenge," Mr Coogan added.

The CML has estimated £258 billion worth of gross of lending for 2008, compared to £363 billion in 2007.

As originally predicted in October 2007, the number of repossessions forecast in 2008 by the CML is about 45,000.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]>
Michael Coogan, director general of the CML, speaking at the organisation's annual conference, said consumer borrowing will not return to the levels seen in 2007 even if funds increase and a wide variety of lenders become active in the mortgage market again.

He commented that "further targeted action" from the government is needed to help market participants or the industry will feel the affects of the recession in 2009.

Greater assistance to the mortgage market could boost liquidity and increase the range of deals available to potential borrowers of mortgages for professionals.

"A good outcome next year in my view would be if we had lending at levels seen in 2008, but bearing in mind we will be in a recession ... this would be a real challenge," Mr Coogan added.

The CML has estimated £258 billion worth of gross of lending for 2008, compared to £363 billion in 2007.

As originally predicted in October 2007, the number of repossessions forecast in 2008 by the CML is about 45,000.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/cml-calls-for-targeted-govt-action/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/estate-agents-could-launch-stamp-duty-offers/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/estate-agents-could-launch-stamp-duty-offers/#comments Wed, 03 Dec 2008 11:03:12 +0000 Mortgages For Professionals http://mortgagesforprofessionals.comestate-agents-could-launch-stamp-duty-offers
Graduates who might qualify for mortgages for professionals could soon find that estate agents are offering stamp duty offers.

Wimbledon-based estate agent SW19 offers no stamp duty on its properties, the first scheme of its kind in the UK property sales sector.

The trend could emerge across the board, but estate agents might need to be sparked into action, said Luke Bennett, founder and managing director of the firm.

"It's so easy for agents to sit on their hands and say: 'Let's just sit back and take it as it is', but if you have that approach then you're not going to succeed," he commented.

In September, the government announced that stamp duty would be suspended for a 12-month period on residential properties worth £175,000 or less.

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]>
Graduates who might qualify for mortgages for professionals could soon find that estate agents are offering stamp duty offers.

Wimbledon-based estate agent SW19 offers no stamp duty on its properties, the first scheme of its kind in the UK property sales sector.

The trend could emerge across the board, but estate agents might need to be sparked into action, said Luke Bennett, founder and managing director of the firm.

"It's so easy for agents to sit on their hands and say: 'Let's just sit back and take it as it is', but if you have that approach then you're not going to succeed," he commented.

In September, the government announced that stamp duty would be suspended for a 12-month period on residential properties worth £175,000 or less.

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/estate-agents-could-launch-stamp-duty-offers/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/experts-predict-100-point-rate-cut/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/experts-predict-100-point-rate-cut/#comments Wed, 03 Dec 2008 11:00:37 +0000 Mortgages For Professionals http://mortgagesforprofessionals.comexperts-predict-100-point-rate-cut
The Bank's monetary policy committee (MPC) meet for its monthly base rate decision after cutting rates by 1.5 per cent to three per cent in November.

Even with interest rates at their lowest level since the 1950s, borrowers of mortgages for professionals can expect future aggressive action by the Bank this month as it looks to tackle the economic downturn and the threat of deflation.

Robert Sinclair, director of the Association of Mortgage Intermediaries, said a cut by 100 basis points to two per cent is essential to keep the wider economy moving forward in line with proposals announced in last week's pre-budget report.

Meanwhile, Paul Dales of Capital Economics believes that the latest inflationary report, MPC minutes and the testimony to the Treasury committee indicate that the Bank is prepared to do whatever is necessary.

Defaqto economist Michael Baxter said: "I no longer think markets will be surprised if they cut interest rates significantly. For that reason I think they could get away with decreasing it by three quarters of a per cent."

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]>
The Bank's monetary policy committee (MPC) meet for its monthly base rate decision after cutting rates by 1.5 per cent to three per cent in November.

Even with interest rates at their lowest level since the 1950s, borrowers of mortgages for professionals can expect future aggressive action by the Bank this month as it looks to tackle the economic downturn and the threat of deflation.

Robert Sinclair, director of the Association of Mortgage Intermediaries, said a cut by 100 basis points to two per cent is essential to keep the wider economy moving forward in line with proposals announced in last week's pre-budget report.

Meanwhile, Paul Dales of Capital Economics believes that the latest inflationary report, MPC minutes and the testimony to the Treasury committee indicate that the Bank is prepared to do whatever is necessary.

Defaqto economist Michael Baxter said: "I no longer think markets will be surprised if they cut interest rates significantly. For that reason I think they could get away with decreasing it by three quarters of a per cent."

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/03/experts-predict-100-point-rate-cut/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/us-fed-decision-could-influence-boe-expert-says/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/us-fed-decision-could-influence-boe-expert-says/#comments Tue, 02 Dec 2008 12:32:13 +0000 Mortgages For Professionals http://mortgagesforprofessionals.comus-fed-decision-could-influence-boe,-expert-says mortgage for professionals might benefit from higher interest rate cuts in the UK if the US Federal Reserve takes tough action in its management of the American economy, it has been suggested.

Ross Walker, economist at the Royal Bank of Scotland (RBS), said that the Federal Reserve is expected to cut US interest rates by 0.5 per cent this month.

"If that happens there is a possibility that the Bank of England could be in their slip stream," he added.

RBS predicts UK interest rates to fall by 50 basis points in January 2009, with an additional 0.25 per cent cut in February before the next inflation report.

There are still risks in the economy and "uncertainty over where we will get to and how", Mr Walker said.

Last month, the Bank cut interest rates by 1.5 per cent to three per cent, with the monetary policy committee stating that the reduction was necessary to meet the government's two per cent target for consumer prices index inflation in the medium term.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> mortgage for professionals might benefit from higher interest rate cuts in the UK if the US Federal Reserve takes tough action in its management of the American economy, it has been suggested.

Ross Walker, economist at the Royal Bank of Scotland (RBS), said that the Federal Reserve is expected to cut US interest rates by 0.5 per cent this month.

"If that happens there is a possibility that the Bank of England could be in their slip stream," he added.

RBS predicts UK interest rates to fall by 50 basis points in January 2009, with an additional 0.25 per cent cut in February before the next inflation report.

There are still risks in the economy and "uncertainty over where we will get to and how", Mr Walker said.

Last month, the Bank cut interest rates by 1.5 per cent to three per cent, with the monetary policy committee stating that the reduction was necessary to meet the government's two per cent target for consumer prices index inflation in the medium term.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/us-fed-decision-could-influence-boe-expert-says/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/pbr-effect-on-high-earners-discussed-by-expert/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/pbr-effect-on-high-earners-discussed-by-expert/#comments Tue, 02 Dec 2008 12:31:38 +0000 Mortgages For Professionals http://mortgagesforprofessionals.compbr-effect-on-high-earners-discussed-by-expert Mortgages for professionals borrowers will experience subtle changes to their taxes in the coming years under proposals announced in chancellor Alistair Darling's pre-budget report (PBR), an expert has said.

John Whiting, chairman of the management of taxes committee at the Chartered Institute of Taxation, commented that increases in National Insurance and tax increases in 2011 will affect Britons earning more than £40,000 a year.

The changes mean that mid income earners and above are going to lose out, he suggested.

"Once those have all bedded in, then depending on what happens to personal allowances in the interim, on the surface people certainly on above £40,000 will lose out," Mr Whiting said.

According to measures announced in the PBR, income tax personal allowance will be restricted for those with incomes over £100,000 from April 2010, while a new additional higher rate of income tax - of 45 per cent - will be charged on people earning above £150,000 in April 2011.

Mortgages for professionals is a whole-of-market broker providing expert mortgage advice to high earning professionals such as pharmacists, engineers and doctors.]]> Mortgages for professionals borrowers will experience subtle changes to their taxes in the coming years under proposals announced in chancellor Alistair Darling's pre-budget report (PBR), an expert has said.

John Whiting, chairman of the management of taxes committee at the Chartered Institute of Taxation, commented that increases in National Insurance and tax increases in 2011 will affect Britons earning more than £40,000 a year.

The changes mean that mid income earners and above are going to lose out, he suggested.

"Once those have all bedded in, then depending on what happens to personal allowances in the interim, on the surface people certainly on above £40,000 will lose out," Mr Whiting said.

According to measures announced in the PBR, income tax personal allowance will be restricted for those with incomes over £100,000 from April 2010, while a new additional higher rate of income tax - of 45 per cent - will be charged on people earning above £150,000 in April 2011.

Mortgages for professionals is a whole-of-market broker providing expert mortgage advice to high earning professionals such as pharmacists, engineers and doctors.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/pbr-effect-on-high-earners-discussed-by-expert/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/interest-rate-cut-forecast-by-expert/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/interest-rate-cut-forecast-by-expert/#comments Tue, 02 Dec 2008 11:34:47 +0000 Mortgages For Professionals http://mortgagesforprofessionals.cominterest-rate-cut-forecast-by-expert mortgages for professionals should expect UK interest rates to fall to at least one per cent by February, an expert has said

According to Mark Dampier, head of research at private investment services firm Hargreaves Lansdown, the prospect of deflation caused by falling oil prices might also affect the UK economy in 2009.

Mr Dampier noted that last month, interest rates were cut dramatically by 33 per cent and further reductions in the base rate would be even more unprecedented.

You have to go back to the early 1950s to find a time where UK interest rates were at two per cent, he said.

"They have not been one per cent ever in this country, or not since the Bank of England was formed in 1694," Mr Dampier added.

He added that savers could be in for a "real shock" when interest rate decisions are announced in the early stages of next year.

After cutting rates by 1.5 per cent to three per cent last month, the Bank will reveal its interest rate decision for December on Thursday.

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]> mortgages for professionals should expect UK interest rates to fall to at least one per cent by February, an expert has said

According to Mark Dampier, head of research at private investment services firm Hargreaves Lansdown, the prospect of deflation caused by falling oil prices might also affect the UK economy in 2009.

Mr Dampier noted that last month, interest rates were cut dramatically by 33 per cent and further reductions in the base rate would be even more unprecedented.

You have to go back to the early 1950s to find a time where UK interest rates were at two per cent, he said.

"They have not been one per cent ever in this country, or not since the Bank of England was formed in 1694," Mr Dampier added.

He added that savers could be in for a "real shock" when interest rate decisions are announced in the early stages of next year.

After cutting rates by 1.5 per cent to three per cent last month, the Bank will reveal its interest rate decision for December on Thursday.

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/02/interest-rate-cut-forecast-by-expert/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day-2/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day-2/#comments Mon, 01 Dec 2008 16:09:12 +0000 Mortgages For Professionals http://mortgagesforprofessionals.combritons-saving-for-a-rainy-day mortgages for professionals are thinking about saving for a rainy day, research has suggested.

Hetal Parmar, savings manager at Alliance & Leicester, commented on studies by the mortgage lender which have indicated that around one in two Britons regret that they are not giving enough thought to their finances.

It comes as graduates are facing rising levels of student debt and other wealthy professionals, such as solicitors and engineers, might be looking to put aside some of their earnings during the current economic crisis.

Mr Parmar advised people to save about three months worth of income into a specific rainy day vehicle.

This would protect them if, for example, their car breaks down or the home's roof needs repairing, he noted.

"At least [then] you have got something there to fall back on. I think more and more people are starting to think that way," Mr Parmar said.

Some 68 per cent of people do not feel they have reached the point where they can stop saving, according to Alliance & Leicester's Savings Outlook Report.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> mortgages for professionals are thinking about saving for a rainy day, research has suggested.

Hetal Parmar, savings manager at Alliance & Leicester, commented on studies by the mortgage lender which have indicated that around one in two Britons regret that they are not giving enough thought to their finances.

It comes as graduates are facing rising levels of student debt and other wealthy professionals, such as solicitors and engineers, might be looking to put aside some of their earnings during the current economic crisis.

Mr Parmar advised people to save about three months worth of income into a specific rainy day vehicle.

This would protect them if, for example, their car breaks down or the home's roof needs repairing, he noted.

"At least [then] you have got something there to fall back on. I think more and more people are starting to think that way," Mr Parmar said.

Some 68 per cent of people do not feel they have reached the point where they can stop saving, according to Alliance & Leicester's Savings Outlook Report.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day-2/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day/#comments Mon, 01 Dec 2008 16:09:12 +0000 Mortgages For Professionals http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day/ mortgages for professionals are thinking about saving for a rainy day, research has suggested.

Hetal Parmar, savings manager at Alliance & Leicester, commented on studies by the mortgage lender which have indicated that around one in two Britons regret that they are not giving enough thought to their finances.

It comes as graduates are facing rising levels of student debt and other wealthy professionals, such as solicitors and engineers, might be looking to put aside some of their earnings during the current economic crisis.

Mr Parmar advised people to save about three months worth of income into a specific rainy day vehicle.

This would protect them if, for example, their car breaks down or the home's roof needs repairing, he noted.

"At least [then] you have got something there to fall back on. I think more and more people are starting to think that way," Mr Parmar said.

Some 68 per cent of people do not feel they have reached the point where they can stop saving, according to Alliance & Leicester's Savings Outlook Report.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> mortgages for professionals are thinking about saving for a rainy day, research has suggested.

Hetal Parmar, savings manager at Alliance & Leicester, commented on studies by the mortgage lender which have indicated that around one in two Britons regret that they are not giving enough thought to their finances.

It comes as graduates are facing rising levels of student debt and other wealthy professionals, such as solicitors and engineers, might be looking to put aside some of their earnings during the current economic crisis.

Mr Parmar advised people to save about three months worth of income into a specific rainy day vehicle.

This would protect them if, for example, their car breaks down or the home's roof needs repairing, he noted.

"At least [then] you have got something there to fall back on. I think more and more people are starting to think that way," Mr Parmar said.

Some 68 per cent of people do not feel they have reached the point where they can stop saving, according to Alliance & Leicester's Savings Outlook Report.

Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/britons-saving-for-a-rainy-day/feed/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/stamp-duty-should-be-wiped-out-expert-says-2/ http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/stamp-duty-should-be-wiped-out-expert-says-2/#comments Mon, 01 Dec 2008 10:55:45 +0000 Mortgages For Professionals http://mortgagesforprofessionals.comstamp-duty-should-be-wiped-out,-expert-says
Luke Bennett, founder and managing director at Wimbledon-based estate agent SW19, said the levy should be "completely wiped out" or at the very least be made "non-existent" for first-time buyers.

Britons considering mortgages for professionals have to pay stamp duty if their property costs more than £175,000.

Concessions on the tax for purchases on homes worth £175,000 or less were introduced by the government in September.

For homebuyers in London, however, there is little opportunity to avoid stamp duty, Mr Given noted.

"A typical one or two bedroom flat is £300,000 so they have got to find that £9,000 or £10,000 stamp duty and that's a massive part on top of their moving costs," he said.

The added costs of stamp duty can make a difference to people thinking of buying a new property, he added.

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]>
Luke Bennett, founder and managing director at Wimbledon-based estate agent SW19, said the levy should be "completely wiped out" or at the very least be made "non-existent" for first-time buyers.

Britons considering mortgages for professionals have to pay stamp duty if their property costs more than £175,000.

Concessions on the tax for purchases on homes worth £175,000 or less were introduced by the government in September.

For homebuyers in London, however, there is little opportunity to avoid stamp duty, Mr Given noted.

"A typical one or two bedroom flat is £300,000 so they have got to find that £9,000 or £10,000 stamp duty and that's a massive part on top of their moving costs," he said.

The added costs of stamp duty can make a difference to people thinking of buying a new property, he added.

Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.]]> http://www.mortgagesforprofessionals.com/content/mortgage-news/2008/12/01/stamp-duty-should-be-wiped-out-expert-says-2/feed/