This is a victory not only for AMI and Mortgage Strategy, which has campaigned heavily for reform, but for the broker community as a whole. Both trade bodies should be commended for recognising there was an issue and for coming to a sensible and fair solution.
The latest MPC minutes show some members are edging closer to voting for the first increase to base rate since March 2009.
While it is welcome the position of housing minister has been made a ministerial role again, the Prime Minister has failed to heed the industry’s advice by giving the incumbent a seat on the Cabinet.
PRA chief Andrew Bailey has raised concerns about about lengthening mortgage terms, warning the trend could cause borrowers problems if their income falls in retirement.
AMI: ”We have been keen to ensure brokers are treated fairly and have a right to an appeal.”
Lenders have been surprised at the time it takes to arrange a mortgage for a customer from start to finish
Homeowners are unaware of their home’s true value and what can be achieved by releasing a percentage
The school summer holidays are unlikely to offer any let-up in loan demand as I am left stumped by a bridging finance client’s request
Commentators say that while the European mortgage credit directive offers vital protection for consumers, it is rigidly bureaucratic and will force UK lenders to undertake an expensive systems review for negligible benefit
Leading City economist Roger Bootle’s book examines the European Union and how it has impacted on our lives - not always positively.