Shaw Financial Services is frequently approached by local and national press, mortgage trade press magazines, property, mortgage, economic podcasts, and occasional TV and radio interviews. Our extensive experience and in-depth knowledge of the mortgage and property markets are the primary reasons behind these requests.
Consequently, our insights and opinions are regularly featured in prominent publications such as The Daily Mail, Telegraph, The Times, Daily Mirror, Guardian, Evening Standard, FT Adviser, Metro, Financial Reporter, The Sun, and Daily Express. We have also recently provided interviews on various media platforms, including Sky News, ITV News, Channel 5 News, BBC Radio 4, LBC Radio, and many others. For your convenience, we have provided links below to some of our previous press contributions. Simply click on the link to access the corresponding story.
Mortgage expert Lewis Shaw has warned the high street banking giant "won't be the last lender that is likely to increase their rates this week in response to volatile swap rates".
He advised those buying or remortgaging to get their documents over to their broker as soon as they ask them.
Lewis Shaw from the mortgage broker Shaw Financial Services said it was important to work out if the saving from remortgaging with a new lender at a lower rate outweighs the cost of a new deal. He said you could pay about £300 in legal and broker fees, and that is not including the mortgage fee. It’s worth noting that some brokers do not charge a fee but get commission from your lender. Legal fees for remortgages are typically lower than when you first take out a mortgage, and many lenders will often pay it for you.
This sentiment was echoed by Lewis Shaw, of Shaw Financial Services, who said: “It’s positive that inflation has remained at 4 per cent when many were expecting a rise; however, with US inflation rising, it means the likelihood of any base rate cut will be pushed back further.
“Furthermore, the hotter-than-expected US inflation caused Gilt yields to increase yesterday, meaning any further mortgage rate reductions will be paused, and we could see many lenders begin to reprice upwards.”
lewis Shaw, founder of mortgage broker Shaw Financial Services, said the speed at which mortgage arrears were increasing was “terrifying”. “This is dire data, and we know that it’s about to get an awful lot worse, with 1.6mn mortgage holders due to renew over the next 12 months at significantly higher rates than anyone has been used to for well over a decade,” he said.
Gazundering happens when someone reduces their offer, having previously agreed a higher price. Lewis Shaw, founder of Mansfield-based Shaw Financial Services told Newspage: “At the eleventh hour, buyers are trying to pull a fast one and that’s crippling chains.”
Similar concern was shared by Shaw Financial Services owner and mortgage expert, Lewis Shaw, who said: “There are very few genuine down valuations: it’s mainly overpriced properties.” Shaw added that: “The problem at the moment is many sellers are still failing to understand that houses are worth less as each month passes.”
Lewis Shaw, the owner of the broker Shaw Financial Services, said that with NatWest following hot on the heels of HSBC, “There’s every chance we could see the remaining big four [Lloyds Banking Group, Barclays, Nationwide and Santander] come to the party this week, too. “It would appear that lenders are struggling to get new business, and the rate tap is the only tool they can turn to.”
Lewis Shaw, mortgage broker at Mansfield-based Shaw Financial Services, believes that rising interest rates make it impossible to make a profit from buy-to-let in most areas unless you own your investment properties outright or have a lot of equity.
'Unless you've got a 50 per cent deposit, in most parts of the country buy-to-let is dead,' he says.
Lewis Shaw, mortgage expert at Shaw Financial Services, said another hike would be “absolutely crazy”. He said: “After everything that households and businesses have been through the past few years, this is the icing on the cake. It’s tantamount to kicking the country when we’re on our knees.”
Lewis Shaw, Owner and Mortgage Expert at Shaw Financial Services, noted that HSBC was catching up with the market by offering longer deals. “It shows that there is an appetite for longer mortgages after the cost of living crisis, rate hikes, and wage stagnation wrought a hammer blow to first-time buyers’ affordability, and HSBC wants in on the action. What it also highlights is the disparity between average house prices and income, where people now have to borrow over this timeframe to take their first step onto the property ladder.”
Lewis Shaw, founder of Mansfield-based Shaw Financial Services, saying: “2024 will be the year of the remortgage, and given current market predictions, it will be absolutely brutal.”
“It’s written in the stars that house prices are declining and will continue for some time yet. Don’t be misled by the data about price rises in certain areas,” Lewis Shaw, mortgage expert at Shaw Financial Services, said.
“This is mainly due to the lag between agreeing to buy a property at a particular price and when the transaction completes and is reported at the Land Registry, which is massively behind the curve.”
“For example, the figures for June 2023 are based on sales agreed upon in February and March.”
Lewis Shaw, Mortgage Expert at Shaw Financial Services, added: “The worry is that all recent rate reductions could be unwound if Wednesday’s inflation data disappoints. It’s now all eyes on Wednesday to see what’s in store for us.”
Lewis Shaw of Shaw Financial Services said the flurry of negative data underlined that “you can’t jack up interest rates at the speed we’ve seen over the past 18 months and not cause households to sink below the waterline”.
Lewis Shaw, founder of Mansfield-based Shaw Financial Services, also hoped to see a ‘price war’: “After the rate reductions by HSBC and TSB, Halifax now wants in on the action, which can only be positive. “It's a welcome relief to see rate reductions, and this could be the start of a price war as transaction volumes drop and mortgage lenders need to get the sharp elbows out to hit their targets.”
Lewis Shaw, founder of Mansfield-based Shaw Financial Services, said: “June was a busier month than we anticipated. However, there was a noticeable switch from new purchases to clients wanting to remortgage and many looking to consolidate debts.”
Lewis Shaw, founder of Mansfield-based Shaw Financial Services said: This is a disaster. With CPI having stayed the same and core CPI rising, we can expect to see gilt yields spike as investors look for higher returns from government debt.
But it's not all doom and gloom, as Lewis Shaw, founder of Shaw Financial Services, said customers can still get a "large range of options" below 6% if they have a good deposit.
The knock-on effect is mortgage rates will continue to soar and the pain for Households will intensify. With mortgage rates already at the most painful level since the 90s, we can expect a slowdown in the property market and house prices are well and truly in the crosshairs.
Lewis Shaw, founder of Mansfield-based Shaw Financial Services, said: “After Wednesday’s inflation data, the Bank of England will be under enormous pressure to hike rates tomorrow.”
Lewis Shaw, owner of the broker Shaw Financial Services: The UK has one of the most geographically unequal wealth distributions in Europe. Much of that wealth is held in property, so we need a solution to lessen wealth inequality and address the ever-increasing house prices that prevent families getting onto the property ladder.
It wouldn't surprise me if rates go back up,' says Lewis Shaw from mortgage brokers Shaw Financial Services. 'The Federal Reserve [in the US] have near enough already said they're going to raise rates which will mean the Bank of England will follow suit and then it's like dominoes - up goes gilts, then swaps, then fixed rates. I'd expect to see the headline-grabbers disappear for a while.'
Lewis Shaw, mortgage adviser at Shaw Financial Services, urges borrowers to think carefully before locking into a five-year fix when it’s likely rates will fall further. Unless you have a small balance and a short term left, anyone jumping into a five-year fixed rate now will likely rue the day they listened to the hype,’ he warns.
Lewis Shaw, founder of Shaw Financial Services, says it’s important to think about why you want a lifetime mortgage and whether there might be less expensive alternatives. He says: “There’s been a move from lifestyle enquiries where people want to gift money to family or buy a motorhome towards needing the money to support pension income and keep heads above water.
Speaking to FTAdviser, Lewis Shaw of Shaw Financial Services, a fellow founder of the Broker Collective, said it is designed to address issues that matter to brokers, as opposed to issues that people think matter to brokers. Shaw said of the existing bodies: “It feels as if they are supposed to represent us, but they don’t”.
"This latest increase by the biggest mortgage lender in the UK will spook buyers and sellers alike not to mention those due to re-mortgage in the next few months," Lewis Shaw from broker Shaw Financial Services said.
Lewis Shaw, founder & mortgage expert at Shaw Financial Services: “The past few months have been difficult, but we’ve hit top gear in the past week, culminating on Monday with swathes of deals pulled and mortgages repriced upwards. I spoke to one broker who said they’re getting anxious opening their email in the morning, and I understand what they meant.
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Lewis Shaw, FCA registration number 927754, trading as Shaw Financial Services, is an appointed representative of King Mortgages Ltd, which is authorised & regulated by the Financial Conduct Authority, FCA registration number 803561.
There may be a fee for arranging a mortgage. A typical fee is £499; however, this could be up to £998. Any fees will be discussed with you and agreed, in writing, prior to any work commencing.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Some forms of Buy To Let mortgages are not regulated by the Financial Conduct Authority. There is no guarantee that it will be possible to arrange continuous letting of the property nor that rental income will be sufficient to meet the cost of the mortgage.
The guidance &/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers in the UK. As with all insurance policies, conditions & exclusions will apply.
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