Brokers dominate mortgage market in 2010

Intermediaries played a pivotal role in the mortgage market last year and were responsible for introducing two thirds of first-time buyer mortgages and over half of home mover loans and remortgages. PMS are independent and whole of market with no fee charged in the vast majority of cases. Visit for more info.

Switch & Fix Mortgage

The Options Mortgage is a 5 Year Base Rate Tracker product that comes with a Switch and Fix facility. The Switch and Fix facility allows borrowers to switch to an available Skipton fixed rate mortgage  at any point during the tracker period without having to pay the Early Redemption Charge on the tracker product.

Automated valuation models

AVM’s for short, the latest use of technology to hit the mortgage industry. AVM’s is a computerised database system that provides instant electronic valuations on residential properties which in the vast majority of cases can mean that no physical inspection of the property is necessary. This in turn has led to lenders such as GMAC & Edeus being able to issue binding mortgage offers on the same day as applying and often within 30 minutes. The future looks set for the use of AVM’s to grow as more lenders turn to this technology. Hometrack are a leading provider of AVM’s.