Open Choice Mortgage News

Right to Buy Mortgages for UK Council Tenants just got a whole lot simpler with Open Choice Mortgages new 3 Step all-in-one solution that makes buying your council owned home as easy as 1, 2, 3.

Simply sign our terms of service, then sit back and relax while we purchase your home on your behalf at a discount of up to £38,000, depending upon region.

Better yet, there’s nothing to pay up front because all costs are included in the mortgage!

And thanks to the Right to Buy discount, there’s often enough equity in the property for home improvements, so you can have that new kitchen or bathroom you’ve been dreaming of.

In the recent Google Page Rank update, Open Choice Mortgages was awarded a Google Page Rank of 4 (PR4) beating all hopes and expectations for our 4 month old site!

David Ford, Principal:
That’s brilliant, and just goes to show what a well designed and regularly maintained website can achieve in such a short space of time!

The Bank of England Monetary Policy Committee has cut the base lending interest rate 1/4% to 4.5% after months of speculation that a rate cut would come in August. Last week Open Choice Mortgage News reported a cut ‘too close to call’ given the recent rally in the World Economy and an increase in the number of mortgage approvals.

Right To Buy mortgage scheme special! Rates from 6.11% and up to 85% loan to value. NO RENT REFERENCES or proof of income required. Up to £1,000 of CCJ’s accepted, provided there have been none issued in the last 6 months.

To take advantage of this great offer, telephone 0800 0288 958 or use the contact page at Open Choice Mortgages.

The week ahead is an important one for those with variable rate mortgages, as once again the Bank of England Monetary Policy Committee will meet and decide whether or not to impose a cut in the base interest rate.

Many economists believe that a cut is the clear choice, given the continued retail slowdown, but others state that recovering optimism amongst British companies and an increase in the number of mortgage approvals means the base rate should be held. A minority supporting an interest rate rise to curb inflationary factors.

The recent recovery in the world economy would seem to bear out a decision to leave the base interest rate alone, but we’ll have to wait until this Wednesdays and Thursdays meetings of the MPC to find out, and you can rest assured we’ll keep you posted on this important topic for mortgage borrowers across the UK.

The Bank of England’s monetary policy committee voted to keep the base rate at 4.75% last week, despite pressure from business groups to cut interest rates following weak performance in the housing market and on the high street. However, many economists still believe interest rates will fall, some saying the first cut coming as early as August.

The Sunday Times ‘Money’ supplement July 3rd, 2005 writes:

Borrowers urged not to miss out as mortgage rates tumble
…Fixed rate mortgages are priced according to swap rates…[that] have started to tumble… This will put pressure on the Bank of England to cut interest rates sooner rather than later. A Reuters poll showed that nearly 40% of economists believe the first rate cut will come in August… the consensus was that there would be two rate cuts this year.

Contact us to discuss your circumstances and find out whether you can take advantage of the new lower rate mortgages available.

As low as 3.99% fixed rate mortgage until 01/09/2007 at 85% loan to value. A typical example:
property value £180000 total borrowing £153000 and you only need a rental income to cover the mortgage payments of £510 pcm (100% of the monthly mortgage payments) APR 6.7%.

Remortgage only, from as little as 5.65% untill 01/02/2009 with free valuation. This product does not incur any financial penalties at the end of scheme period if you decide to change lenders. You can even pay up to 10% of the outstanding balance on the amount you owe and the new balance and interest will be calculated immediately.

Open Choice Mortgages‘ website is relaunched after an extensive web standards redesign by Cameron Cain Design that also includes a host of exciting new features such as this fantastic Open Choice Mortgage News section with RSS feeds that allow visitors to be automatically informed of news and mortgage deals as they are released.

In addition to its fresh new look that meets XHTML and CSS standards as well as ‘AA’ guidelines for accessibility, the site boasts an incredibly useful Financial Glossary providing Plain English definitions ...