Nova Mortgages

Good evening everyone , I hope you are all keeping well ,we have been keeping busy with lots of changes within the markets as well as in the office , this month we welcomed back Emma who has been travelling the world for the past 10 months , it’s so lovely to have her back , we also welcomed a new team member Ben who brings along years of experience so I thought this would be an ideal opportunity to introduce our team 😍

Today Nova and Jen are off to the Zoo after coming in the top 20 Advisers in sales for London and Southeast of England ! We hope you have a great day , meanwhile Emma , Megan , Ben and Simon are all holding the fort ready to help all our lovely clients .

Did you know many of the life policies we sell come with access to doctors consultations 24/7 meaning you get to speak to a doctor usually the same day if not the next.
With premiums starting at just £5 pm, having just had an experience which took over 24 hours to get 111 to call back and no availability to speak with a doctor I would say these policies are priceless !

Christmas opening hours -

we will be closed Friday 22nd December and reopening 3rd Jan , I have decided to give my staff a well deserved break, It has been a very bumpy ride this year with navigating the financial crisis , and continually delivering bad news, With inflation reducing again we do hope 2024 will be a better one for you all.
I would like to take this opportunity to Thank all our clients past present & future for your continued loyalty without you I wouldn't be able to employ the team ,being a small independent firm our clients are so important , so thank you and we all want to wish you a Happy Christmas & very Happy New Year , May 2024 bring you Happiness , Health & of course lower rates

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Christmas opening hours -

we will be closed Friday 22nd December and reopening 3rd Jan , I have decided to give my staff a well deserved break, It has been a very bumpy ride this year with navigating the financial crisis , and continually delivering bad news, With inflation reducing again we do hope 2024 will be a better one for you all.
I would like to take this opportunity to Thank all our clients past present & future for your continued loyalty without you I wouldn't be able to employ the team ,being a small independent firm our clients are so important , so thank you and we all want to wish you a Happy Christmas & very Happy New Year , May 2024 bring you Happiness , Health & of course lower rates

https://www.jibjab.com/view/make/beginning_to_look_like_christmas/0d5f71e1-dab3-44ca-ae31-eae72444137d?recipient_token=98b3b91e-7d9d-4cb0-9d0d-3a062d433ea8

It’s always so lovely when our clients take the time to refer us . Thank you to you all 🥰

And this is why ladies and gentleman I am chunky , you can always tell how long an adviser has been in the industry 😂😂😂

One of my clients properties has just fallen through , if you fancy living in a the lovely village of Higham , I can highly recommend it !

Good Morning

I just wanted to update you all to what’s been happening the past 3 weeks , we saw rates increas due to the uncertainty caused by some Major Banks around the world on the brink of collapse , these banks were subsequently sold and we saw rates start to dip again .
The USA Federal reserve increased rates by 0.25% yesterday , and we are likely to see Bank of England follow suit .
Many lenders will have already adjusted their rates accordingly , hence why we always see a lot of movement a few weeks prior to them meeting , so if rates do increase , don’t panic it would of been expected . If they don’t increase then we might see some fixed rates come down slightly .
As usual we are continuing to monitor all our clients best interests and will be in touch if your rate is effected or if you are due to change your rate in the coming months .
Have a great day !

We are recruiting !

We are looking for a qualified mortgage adviser with at least a minimum of 1 years experience to join our successful team , we are passionate about providing the very best customer service for our clients, this is an employed role and salary depends on experience , but the ability to earn commission .
The role is Monday-Friday and based in an office in Shorne , Kent
For more information please send you CV or drop us an email on [email protected]

Sorry we haven’t been active on FB for the past week , we have been so busy with new client enquiries . Whilst we saw Bank of England increase the rates ,Fixed rates have continued to fall on a daily basis !
We saw a couple of lenders bring in 3.99% fixed rates for 5 years, hopefully we will see the 2 year deals follow suit .
It’s been a few months since we saw a 3 at the beginning of a rate .
The outlook has been good ,more houses coming on the market ,more buyers becoming active , 2023 looks like it is going to be another busy year .
Being a Fee Free whole of market Brokers means we will always get the best possible deals for our clients .
Have a great weekend

UPDATE - Todays Bank of England rate increase was expected by lenders , and we continue to see fixed rates gradually coming down . With several lenders reducing their rates this week !

Happy 2023 ! I’m sure it’s been a tough week with many of you going back to work ,so I thought I would share some updates , we have in the past 2 days seen some really positive reductions in rates , please remember the benefit of having a broker is we will be able to advise when is the best time to switch rates and also continue to review them right up to the expiry date .
We have seen an increase of clients going direct to the lenders , here are a few reasons why that could be costly -

Once your secure your rate with the lender , they are not going to tell you if they reduce their rates

Lenders give exclusive deals to brokers for you not to go direct

We do not charge fees to do your mortgage , however we do earn commission from the lender ,

Product transfers are a really important part of our business , if we lose the opportunity to earn money from dealing with the renewals ,we are unlikely to be able to maintain our fee free status.
We would hate for that to happen , but even worse we would hate for you to pay a higher rate than necessary , so please make the most out of the fact you have a fee free whole of market broker .
The market is looking very positive so far , lots of people looking already to sell and buy , so here’s to a busy 2023 !

The whole team would like to wish all our clients a wonderful 2023 , We look forward to helping you and your friends during the coming year , and we will raise glasses and our wish will be for rates to continue coming down for you all 😂🥳 Cheers 🥂

Good Morning ,
I just wanted to update you with regards to the recent Bank of England increase , we have been carefully watching lenders reactions to the increase , and yet again fixed rates are still being reduced .
Many lenders have started to allow clients to change their deals now 6 months early , we have amended our records to take into account this , however whilst rates are still reducing I wouldn’t look to necessarily lock you into that deal unless the lender would allow us to change .
A few clients have mentioned they have received lots of correspondence from lenders which have made them worried whether they should be locking in to a new deal now , please know that I will be In touch and I will let you know when rates have steadied and are unlikely to reduce further .
In the meantime the team and I would like to wish all our past , present and future clients a wonderful Christmas and a very Happy 2023
Regards Nova and the team

Tsb /Accord and Skipton join lenders who have reduced their rates , this is the third week on the trot where fixed rates have continued to decrease ,great news for clients

Great property a friend is selling

Check out this 3 bedroom terraced house for sale on Rightmove 3 bedroom terraced house for sale in Villa Road, Higham, Rochester, ME3 for £280,000. Marketed by Sealeys Walker Jarvis, Gravesend

Rates continue to drop -

Barclays
Hsbc
Coventry
Join the lenders who reduce

Halifax have once again reduced their deals

As promised -

Halifax
Skipton
Virgin

Have all reduced their rates today on some of their product ranges !

Good Morning ,

Today we are expecting BOE to announce another increase ,we have seen lenders starting to reduce their rates since the mini budget , with odd lenders reducing by 1.5% for their existing clients , so once the lenders know what BOE forecasts and also the governments plans which are being announced on the 19/11 we will hopefully be able to have a better outlook for a longer term forecast , in the meantime this increase was expected, lenders are still reducing and we will keep you posted in the coming days as to what lenders are actually doing rather than the doom and gloom the media pick from the details . Stay tuned for actual facts 😃

This evening I have been receiving lots of enquires due to the events over the weekend of the government and Bank of Englands statement .
The main recurring question is asking if you should pay to get out of your fixed rate that is due to end next year .

As you will have seen rates have shot up in a very short time , so trying to foresee what the rates will be in several months time is not something even the banks can tell you .

However many of you are on rates under 2% , if we were to change you now you would be looking at rates between 5-50-6% .

So paying high fees to get out of a much cheaper deal to then also pay a much higher rate does not make financial sense .

Of course it’s a very worrying time for many of you . But there are other options we can look at , it may be extending terms , looking at tracker rates , who knows what lenders may be offering to help clients in the spring should the situation not improve .

What I would recommend is if you know your mortgage rate is very low then use the next few months to try and put some money In savings so when your rate increases , because it will for most people ,you will have funds to help offset any increase in payments.
Of course we are always here for you should you want to arrange for a call to chat through but please bear in mind these next few weeks are going to be very turbulent and as quick as the news is reporting doom and gloom , if the markets like what they hear when the government do their announcement on the 31st October and Bank of England feel that is enough to keep them on track, We may just see that reflected in the rates we are currently seeing .

We will keep you posted on what we are seeing on a day to day basis within the industry rather than what is being reported in the news so stay tuned …….

Some more frequently asked questions this week -

My rate is due to end next year, I'm worried about my payment jumping up, is it worth paying a lump sum off my mortgage ?

Whilst paying a lump sum off your mortgage tends to be a good idea, It won't make a huge difference to your monthly payments , so it may be worth keeping it in savings , that way you have funds to help supplement any increased payments .

If you don't have savings it may be worth starting to save now whilst you are still on a low rate , 1/ it will help you get used to higher payments 2/ If rates go down and you don't need it you'll have a nice lump sum to fall back on !

What are the current rates at the moment and is it worth me leaving my deal ?

So rates are around the 4-5.50% marker at the moment , so no we don't want to pay thousands of pounds in penalties and pay a higher payment before you need too.

What else can be done to keep my repayments low ?

It is without a doubt that everyone will have some sort of increase when their rate ends, how much will depend on what the rate is doing at the time, But we can possibly look at extending the term if need be or we could look at a tracker rate which are currently lower than fixed rates

Why are fixed rates so much higher than the base rate ?

Whilst base rate does impact mortgage rates, Swop rates dictate fixed rates , these are currently very high due to uncertainty, They can change rapidly , and there is room for them to reduce even if Bank of England increase their rates

I've been watching the news and it's scaring me !

Yes we have been watching the news and there is a lot of misinformation being reported, some of this is because it's a fast changing situation, but some of it is for pure drama , but either way we would suggest you follow our page so we can forward on factual info

Even Martin Lewis advice is to speak to a mortgage Broker , so luckily you have one, and for those who haven't used us but would like to speak to someone , we offer Totally Free advice, please feel free to email us !

So training has not exactly gone to plan, however there was never a chance that I would not be running The London Marathon tomorrow for Young Lives v Cancer....Nova Mortgages designated charity.

Thankyou to Nova and the team as we donate for every case we complete!🤗

Young Lives do such great work supporting families in need, providing guidance, financial support and sometimes just a shoulder to cry on!! in a family's worst moments, which we can only imagine unless you have experienced it! 😔

If u want to show your support for this amazing charity then please give what you can using the link below:

https://www.justgiving.com/fundraising/simon-perry12?utm_source=Sharethis&utm_medium=fundraising&utm_content=simon-perry12&utm_campaign=pfp-email&utm_term=26effe89ead642ab90ed09fec1c2ae08

Thank you 🥰

Shrek

Good Afternoon

As you may of seen on the news, several lenders this week have withdrawn deals from the market , so here are some of our most frequently asked questions-

Will the changes affect my application- If we have already submitted your application then no , your rate is secured and any changes will not impact it .

My rate is due to change in 2023 is it worth paying a penalty to secure a new deal- Normally the answer to this is No , any changes in rates are unlikely to warrant paying thousands of pounds in penalties , as well as paying a higher rate earlier than you need too .

I've seen lenders have been withdrawing their deals will this impact me ?
As of today there are less deals on the market place, However as we are whole of market Brokers we do have access to lots of deals, However if you are looking to re mortgage to a new deal, the chances are we will advise you to wait until lenders reprice and come back into the marketplace

Will you remember to contact to me ?

Yes of course we will, all our clients are in our system to contact at the earliest opportunity .

Will I get a better deal contacting my lender directly ?
No we will be able to offer the same deal or very often we are offered better rates , the reason for this is lenders know that if a client has a broker they know we are going to be talking about other lenders aswell

Will the new stamp duty changes benefit me if I have already submitted an application ? yes the changes came in on Friday , so you benefit even if you have exchanged contracts

If you have any questions we can help with please post them and we will be happy to advise , Have a great day !

Great news re stamp duty , with effect today -

Good Evening

We received lots of calls today regarding the announcement from Bank of England regarding the rate increase , so what many people don’t realise , lenders tend to change their rate a couple of weeks before any announcement , so we have had lots of increases over the last 3 weeks .
The rate was expected to increase by 0.75% so more than it actually did , so I’m hoping to see some fixed rates drop in the coming weeks , but I won’t hold my breath .
Many of you are concerned and wanting to secure rates far earlier than normal , however many lenders have a maximum window of opportunity ,so we will be in touch at the earliest opportunity,
The main thing is whilst rates have shot up , inflation has started to slow down , lenders rates have increased above and beyond the speed BOE has increased , so there is room for fixed rates to reduce , whether they do is another matter but we did see the odd lender reduce theirs last week !
Many banks are stretched at the moment and not wanting to encourage more business but as we all know things can change quickly , so we will endeavour to keep you upto date as much as possible and of course please contact us if you have any questions !

Our office will be closed on
Monday 19th
in honour of our late Queen Elizabeth II,
May she rest in eternal peace

Good Night and God Bless your Majesty , we thank you for being the glue that held us all together !