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I've been noticing a trend in my normal morning reading material, which has been quite beneficial to me in my work currently. I'm the copywriter at FE (you can tell this from the length of my posts) and I've been doing a lot of work for National Guarantee, the mortgage company, since I started. This has necessitated a lot of research on remortgages and different types of mortgages to make sure I know what their products are actually about. I'm not a financial writer by training so I needed to fill the gap in my knowledge. This is one of the greatest things about my job, the different industries our clients are part of gives me a chance to write on an array of different topics.
Once I finished my initial research I figured I needed to keep up with what is going on since things seem to keep changing. For this purpose, as well as general knowledge, I started picking up the Metro paper every morning. Ever since late last year I have seen a major increase in the number of articles about mortgages and property. I also tend to get some great ideas for different articles to write since inspiration on the direction to take can sometimes be a little lacking.
I don't know if they have been appearing as regularly before that, or if it's a recent development. I read the Metro every morning and since I started researching loans and mortgages I've seen that there's at least one article a day on those topics. I wouldn't be surprised if the frequency had only just struck me, but if they're only starting to crop up now then I wonder why now?
I know that the beginning of the New Year is a rough time for most people, financially. It's the cold, hard reality after all the spending excesses of Christmas and New Year, so it could just be that. Although I'm sure more advanced warning before the fact would make for much better reading than warnings after the problems. It could also be that by providing more facts about debt, mortgages and similar financial aspects could help reduce future financial problems. If it's that the financial trends are getting so bad that people are compelled to keep trying to highlight the problem, then we're all likely to be in a bit of trouble.
Today's Metro article was: 'New mortgages at a 3-year high', which makes the sort of inevitable sense given the current property boom. There was also a little inset about first time home buyers, which lends reason to the article. If first time buyers are willing to borrow more to get a home then it means they need to repay more to their lender. If they have higher repayments, then they are more likely get themselves into financial difficulties and debt. This in turn leads to a greater need to leverage their greatest asset, the home they've just bought. This all builds up the reasons for what the main piece is saying about the increase in mortgages being taken out.
The article also mentions the increase in the number of people who are remortgaging their homes, which again makes sense. Since the property boom is currently pushing house prices to some of the highest levels ever, the value of houses is increasing. This is being spurred on in less popular areas by the leaps and bounds that property prices are taking in the most popular areas. Increases in popular areas, especially those of the magnitude we are seeing currently, will affect the rest of the country. This increase in value gives the owners additional equity to leverage a loan against, thereby leading to the increased number of remortgages being taken out by homeowners.
National Guarantee is reputable financial institution that is authorised and regulated by the Financial Services Authority. They specialise in Remortgages, Bad Credit Mortgages, CCJ Remortgages as well as Adverse Credit, Self Cert Mortgages and Homeowner Loans. For further information visit: http://www.nationalguarantee.co.uk/