Stamford Home Finance
(Previously Moor Mortgages
& The Mortgage Uni)
In The News
Peter Stamford of Stamford Home Finance is a trusted source of expert advice and opinion in the UK press.
Below is a sample of some of the articles in which he has been featured.
Stamp duty cut is not a magic pill for the challenges facing the housing sector
This is a 600 word Op-Ed piece I delivered for the Financial Times Adviser in March 2024
Is it time interest-only made a comeback?
This is a 600 word Op-Ed piece I delivered for the Financial Times Adviser in September 2023
Ministers’ 99% mortgage idea could overheat UK housing market, say experts
“This radical approach to dismantling the towering barriers to home ownership will sound fantastic to those struggling to find a larger deposit,” said Peter Stamford, the founder and lead adviser for Moor Mortgages, commenting on the speculation about 99% loan-to-value (LTV) mortgages, first reported in the Independent. He added that there was “a risk it could once again cause the property market to overheat, driving prices up further. It’s a high-stakes gamble and could potentially fuel yet another house price bubble.”
Retail slump should encourage interest rate cuts, say mortgage brokers
Peter Stamford of The Mortgage Uni said: “While this is shocking news for the high street, every cloud has a silver lining and this dire data could indicate we’re back on track for a base rate cut this spring, which will ease the pressure on borrowers.”
Tory MPs back plan for 99% mortgage despite housing shortage warnings
Peter Stamford at The Mortgage Uni said the “sting in the tail” would be the higher interest rates that come with low deposits. “There is also a risk it could once again cause the property market to overheat, driving prices up further. It’s a high-stakes gamble and could potentially fuel yet another house price bubble,” the expert warned.
Fixed mortgage rates could fall even with Bank of England’s interest rate rise
Peter Stamford, director of Alston-based Moor Mortgages mirrored Mr Culley’s views, saying: “A 0.25 percent hike by the Bank of England may merely ripple the mortgage pond, but a 0.5 percent increase could create waves, stirring up the lending waters. [Today] is a big day for borrowers and the country in general.”
Would reported plan to offer 99% mortgages work?
Peter Stamford, the founder and lead adviser for Moor Mortgages, said: "This radical approach to dismantling the towering barriers to home ownership will sound fantastic to those struggling to find a larger deposit." But he added there was "a risk it could once again cause the property market to overheat, driving prices up further... It's a high-stakes gamble and could potentially fuel yet another house price bubble".
Leasehold reforms ‘good news’ for ‘more transparent’ sector
Recently confirmed leasehold reforms are “good news for people who want a clearer and more transparent housing sector”, Moor Mortgages director, Peter Stamford, has argued. Stamford’s comments come after the Housing Minister, Rachel Maclean, said that plans to phase out leasehold and restore true home ownership had been confirmed as part of the King’s Speech. She added this will restore home ownership to millions of people and “end the reign” of freeholders and incompetent profiteering management companies. Stamford, explained: “The leasehold system has been a nightmare for sellers and plagued mortgage applications for far too long.”
Brokers warn government against guaranteeing one per cent deposit mortgages
However, some brokers have warned that 99 per cent loan-to-value mortgages could increase demand for housing and therefore raise prices, resulting in negative equity – when a property becomes less valuable than the remainder of the mortgage. “It’s a high-stakes gamble and could potentially fuel yet another house price bubble,” Peter Stamford, of the The Mortgage Uni, told Newspage.
Borrowers' interest in variable mortgages rises amid base rate speculation
Peter Stamford, owner and lead adviser at Stamford Home Finance, said he has seen some take-up of variable rate mortgages recently, but only among affluent homeowners with low outgoings and a low loan to value (LTV) who would not be materially affected by a rate rise. VARIABLE RATES UNATTRACTIVE TO LOWER-INCOME FAMILIES “The thinking is that the amount they’ll pay in the second year of the deal will outweigh what they’ll pay now,” he said. Stamford added: “I definitely wouldn’t recommend a variable rate to someone with tight affordability.”
Santander and Skipton “shrug off” inflation data with further mortgage rate cuts
Peter Stamford, mortgage expert at The Mortgage Uni: “Borrowers rejoice, as the rate cuts haven’t stopped despite the December inflation data. “It seems lenders are continuing to actively reduce rates early in 2024, targeting specific markets like home buying and remortgaging. “Despite the blip in inflation, lenders continue with their rate cuts, which will boost demand for property. “These ongoing reductions suggest an ongoing commitment to stimulate demand from borrowers rather than responding to short-term inflation changes.”
Mortgage prices set to drop as base rate peak approaches
Peter Stamford, director and lead adviser at Moor Mortgages, also said the remarks made by Bailey were unexpected. “They signal a potential good spell for borrowers on the horizon. As we near the next base rate decision, I’m bracing for a series of modest yet frequent rate cuts from high street lenders, who seem keen to expand their criteria and snatch a larger market share amid the dwindling demand for property,” he added.
Building Society to reduce fixed mortgage rates in 'welcome news' ahead of Christmas
Peter Stamford, director at Alston-based Moor Mortgages said: “Just in time for the festive season, Coventry BS is rolling back rates to where they were last summer. If you're one of the many who rushed to seal a two-year deal before Christmas 2021, now's the time to ring your adviser. Coventry's making a serious play for market share, and you could benefit.”
Virgin's Fix and Switch is a five-year fixed rate mortgage with a difference – its ERC only lasts until the end of year two.
Peter Stamford, Mortgage Expert at The Mortgage Uni commented: "Virgin money are letting borrowers have their cake and eat it. 5 year fixed rate with only 2 years early repayment charges, meaning you can swap after 2 years if you choose. Yes please."
BoE: Millions of mortgage borrowers will be hit with higher repayments next year
Peter Stamford, director at The Mortgage Uni (Moor Mortgages), says he is nudging homeowners to tighten their belts, looking at everything from Netflix to credit cards. Debt consolidation's becoming a hot topic, helping people manage not just mortgages but living costs too. “Stay sharp, maybe overpay if you can, and always, always chat with a broker,” he says. “Rates are a bit of a rollercoaster, but being prepared and proactive is key.”
Where next for the base rate? Views from financial services experts
“I sincerely hope that (the fall in annual inflation) will mean a pause in the Bank of England’s interest rate hikes,” said Peter Stamford, director of Alston-based Moor Mortgages.
As the Bank of England looks set to raise rates to a 15-year high today brokers have claimed that mortgage rates could still continue to fall.
Peter Stamford, director and lead adviser at Moor Mortgages: “A 0.25% hike by the Bank of England may merely ripple the mortgage pond, but a 0.5% increase could create waves, stirring up the lending waters. Tomorrow is a big day for borrowers and the country in general.”
Mortgage price war set to be short lived
Peter Stamford, Director at Moor Mortgages, said: “We must remain cautious and await Wednesday’s inflation data. In this fluctuating market, lenders can rapidly adjust their strategies based on prevailing conditions.
Santander issues 24-hour warning to anybody with an account and says 'from tomorrow'
Moor Mortgages' Peter Stamford said: "It seems Santander and other big lenders are nudging their rates down a smidgen, keen to snag the attention of potential borrowers."It's a bit like watching a quiet tug-of-war, where neither side is putting their backs into it. Everyone's got their fingers crossed for a lender to step up with a real game-changer that can shake things up in a positive way."
Down valuations ‘almost certain’ at the moment due to ‘cautious valuers’ ‒ analysis
Peter Stamford, director at Moor Mortgages, said down valuations are “becoming a common narrative”, with values adopting an increasingly “cautious stance”. He continued: “While the landscape appears challenging, it does nudge consumers to make more considered decisions, potentially avoiding problems later down the road. It’s essential to sail these fluctuating waters with caution.”
December retail data “could suggest we are on track for a rate cut again this spring”
Peter Stamford, mortgage expert at The Mortgage Uni: “This grim data shows the enormous pressure facing households and retailers across the UK as higher interest rates and inflation take money out of people’s pockets. “While this is shocking news for the high street, every cloud has a silver lining and this grim data could suggest we are back on track for a rate cut this spring, which will ease the pressure on borrowers.”
Bad news for economy ‘could be good news for borrowers,’ as GDP falls by 0.5% in July
Peter Stamford, director of Alston-based Moor Mortgages agreed: “The upcoming inflation data will now be crucial, as it could determine the Bank of England’s next steps and influence Downing Street’s decisions.
King’s Speech This Week - leasehold reform backed by mortgage bosses
Peter Stamford, director at Moor Mortgages shared much the same view: "This is good news for people who want a clearer and more transparent housing sector. It's strange that it's coming from a conservative government, but I'm not complaining. The leasehold system has been a nightmare for sellers and plagued mortgage applications for far too long."
Eyes on Lenders - rates expected to drop sharply this week
Peter Stamford, director of Moor Mortgages, says this could help reignite the property market: “This is a really positive signal for homeowners, as it will allow banks to reduce rates and ease the pain of movers and remortgagers alike. I have everything crossed that this could reignite the stagnant property market. Here's to more good news as we finish up 2023.”
“The devil is in the detail” – Brokers warn of potentially misleading mortgage advice published by BBC
Peter Stamford, director and mortgage expert at Moor Mortgages: “This is unfortunate summarising. If you click on ‘Read More Here’, you are taken to the full article, from August, which explains the negatives around each of these suggestions. “BBC editors should look at this summarisation and rework it. In isolation, and without context, language can be misleading.”
Is the inflation nightmare nearly over?
'For the sake of millions of homeowners, I sincerely hope that this will mean a pause in the Bank of England's interest rate hikes. But I fear they will see this fall as proof their blunt-edged strategy has been working and could continue to hike. This fall in inflation could have a sting in its tail regarding interest rates.'
Peter Stamford, director and lead adviser at Moor Mortgages
Further interest rate rise won't affect fixed rate mortgages, brokers say
Peter Stamford, director and lead adviser at Moor Mortgages, added: "Halifax is making assertive moves to bolster its mortgage portfolio, a likely response to the subdued business volumes in recent months. With markets anticipating further base rate hikes due to persistent core inflation, the UK's leading mortgage lender's rate reductions may be short-lived. As the industry sees a slowdown in new applications, other lenders might soon follow Halifax's lead. Borrowers should seize these opportunities, but with caution, as the financial climate remains unpredictable."
How I became a broker – Peter Stamford's story
Before becoming a mortgage adviser, Peter Stamford (pictured) was a full-time foster carer for around 10 years. “Fostering is my family vocation,” he said. “My mum is a foster carer, and so is my sister, so I sort of fell into it, and then fell in love with it.” So, how did a foster carer become a broker? Stamford told Mortgage Introducer the story of how he got into the business.
Govt considers ‘radical approach’ to homeownership with 1% deposit mortgages
The UK government is exploring a “radical approach to dismantling the towering barriers to homeownership” by offering 1 per cent mortgages, according to the Mortgage Uni mortgage expert, Peter Stamford. The UK government is considering introducing 1 per cent deposit mortgages as part of its new housing strategy, to help young people and first-time buyers purchase their homes. The initiative is designed to remove the barrier of a large deposit and could be announced in the Spring Budget. Stamford described this idea as “fantastic” for those struggling to find a larger deposit
Coventry announces incoming BTL rate changes
Peter Stamford, director and lead investor at Moor Mortgages, also said: “[Lenders] give with one hand [and] take away with another — this is good news for new customers and bad news for existing ones.”
Homebuyers have 18 months to avoid stamp duty hike
Moor Mortgages director and lead adviser, Peter Stamford, stated: “The impending stamp duty hike adds yet another financial burden to the already costly process of moving house. “With solicitor fees, survey costs, and other expenses, homebuyers are stretched thin.” He added that an extra £2,500 in tax is “significant” and “could deter potential buyers” and that it’s “high time” for a long-term, fairer approach to stamp duty.
Eyes on Lenders - rates expected to drop sharply this week
Peter Stamford, director of Moor Mortgages, says this could help reignite the property market: “This is a really positive signal for homeowners, as it will allow banks to reduce rates and ease the pain of movers and remortgagers alike. I have everything crossed that this could reignite the stagnant property market. Here's to more good news as we finish up 2023.”
UK Inflation Holds Steady at 6.7%: What It Means for Consumers and the Economy
Peter Stamford, director of Moor Mortgages, said “we could see rates fall slightly as lenders scramble for end-of-year business”
A rate war could be brewing
Peter Stamford, director and lead adviser at Moor Mortgages: “A dip in transaction volumes has clearly worried the lenders. The rate war begins; let’s hope this response is not too little, too late.”
Inflation fall could have a ‘sting in its tail’ for interest rates
Peter Stamford, director of Alston-based Moor Mortgages, said: ”For the sake of millions of homeowners, I sincerely hope that this will mean a pause in the Bank of England’s interest rate hikes. But I fear they will see this fall as proof their blunt-edged strategy has been working and continue to hike. This fall in inflation could have a sting in its tail regarding interest rates.”
Two-year swap rates falling below 5% ‘best news in months’
Moor Mortgages director, Peter Stamford stated: “It looks like the swap market is reacting to yesterday’s base rate decision. “This is a really positive signal for homeowners, as it will allow banks to reduce rates and ease the pain of movers and remortgagers alike.” Trinity Finance adviser, Amit Patel stated that the news indicates that “confidence is now back in the market.” He added that it is “welcome news for borrowers who are due to come to the end of their fixed rates.”
Buy-to-let institutionalisation has ‘slightly Orwellian undertones'
"The government is pushing homes into big corporate hands, sidelining everyday landlords. We need both small and large landlords for a fair housing market.” Stamford warned that this direction risks creating 'a divide' between those who own homes and those “forever renting" "We need to challenge this before it’s too late."
Inflation rise ‘blip’ that won’t reverse rate drops but beware swap rises
Peter Stamford, mortgage expert at The Mortgage Uni, agreed: “Inflation’s recent uptick appears to be a minor blip, not derailing the trend of mortgage rate cuts.”
Unprecedented move” from Skipton as it launches 3.35% 2-year fixed rate
Peter Stamford, director at Moor Mortgages, shared much the same view: “Skipton’s new offering is an interesting idea and certainly won’t be right for everyone. However it does give us a unique tool to help clients trim their budgets. Now’s the time for smart mortgage advice, and I’m eager to see more lenders step up with new solutions. The future of mortgages is about innovation.”
Will house price fortune favour the patient, or the bold?
Peter Stamford, director at Alston-based Moor Mortgages, believes the exact opposite is the case: “I have a friend who waited in 2016 but the time wasn’t right with his job. Then he waited again in 2018 because the time wasn’t right with Brexit coming up. Then he waited in 2020 because the time wasn’t right with Covid. He is currently waiting because the time isn’t right with interest rates. If he had moved in 2016, he would have saved thousands and thousands in rent and have a good amount of equity in his property. Fortune favours the bold.”
Mortgage rates are falling – how to take advantage of the best deals
And her thoughts were echoed by Peter Stamford, mortgage expert at The Mortgage Uni, who was also offering his views via the Newspage agency. He said: “Borrowers rejoice, as the rate cuts haven’t stopped despite the December inflation data. It seems lenders are continuing to actively reduce rates early in 2024, targeting specific markets like home buying and remortgaging. “Despite the blip in inflation, lenders continue with their rate cuts, which will boost demand for property. These ongoing reductions suggest an ongoing commitment to stimulate demand from borrowers rather than responding to short-term inflation changes.”
Eyes on Lenders - rates expected to drop sharply this week
Peter Stamford, director of Moor Mortgages, says this could help reignite the property market: “This is a really positive signal for homeowners, as it will allow banks to reduce rates and ease the pain of movers and remortgagers alike. I have everything crossed that this could reignite the stagnant property market. Here's to more good news as we finish up 2023.”
Was es für Ihre Hypothek, Ihre Ersparnisse und Ihr Geld bedeutet
Peter Stamford, Direktor bei Moor Mortgages, sagte, wenn die Inflation sinke, „könnten wir einen leichten Rückgang der Zinssätze erleben, da die Kreditgeber sich um Geschäfte zum Jahresende bemühen.
Ce que cela signifie pour votre hypothèque, votre épargne et votre argent
Peter Stamford, directeur de Moor Mortgages, a déclaré que si l’inflation baissait, « nous pourrions voir les taux baisser alors que les prêteurs se bousculent pour conclure leurs affaires de fin d’année
