Mortgage Strategy
13 September 2010
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It's a losing game to over-value property
13 September 2010
RICHARD SEXTON BUSINESS DEVELOPMENT DIRECTOR E.SURV
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£500 Payment shock if base rate rises
13 September 2010
Borrowers’ average monthly mort-gage payment could jump by £563 if the base rate returns to levels seen before the credit crunch, says Moneysupermarket.com.Its research shows a borrower on an interest-only mortgage of £150,000 on a 2.5% SVR would pay £312.50 per month but a 1% base rate rise would see it jump by £125 per month to £437.50. However, if the base rate rose to 5%, the level it was in October 2008, the SVR could be 7% and this figure jumps to £875.
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A lead can be the sprat that catches you a mackerel
13 September 2010
If you’re looking for help during these challenging times a modest investment in leads can reap generous rewards
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Action group needed to deal with agents' unethical behaviour
13 September 2010
Three times during the last four months we have come across estate agents who have said that it is mandatory - they need to look that word up in the dictionary - for our client to see their mortgage broker after we have already sourced a suitable product.
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B2L regulation will not go ahead, says Paragon
13 September 2010
JOHN HERON PRIVATE RENTING MUST FILL GAP
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Bank of China hikes LTV to 80% in bid to expand UK market share
13 September 2010
IAN BALFOUR LTV HIKE IS GOOD NEWS
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Barclays hopes to shine with Diamond as boss
13 September 2010
Bob Diamond is replacing John Varley as group chief executive of Barclays. Varley is stepping down on March 31 2011.
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Boris bikes, celeb parents and dodgy land kept me busy
13 September 2010
Contaminated land is more widespread then you imagine and can scupper many a good deal, as can private banks
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Broker deals beat direct ones sevenfold
13 September 2010
There were seven times more bro-ker products than direct products available in August, latest research from TrigoldCrystal shows.
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Brokers must wake up and smell fraud coffee
13 September 2010
PMS chairman John Malone has warned that mortgage fraud will increase in the next few years and brokers must be willing to take responsibility.Figures released last week by Experian show mortgage fraud jumped 37% in the first half of 2010, compared with the last six months of 2009.
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C word continues to be heard in market
13 September 2010
GEORGE PATELLIS CHIEF EXECUTIVE OFFICER TIUTA
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Call to teach consumers about equity release
13 September 2010
A survey by Bridgewater Equity Release shows advisers believe the government should do more to educate consumers on equity release.
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
13 September 2010
The MoneySpinners team on their coast to coast cycle ride
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Charging a fee will not work so brokers should just diversify
13 September 2010
A recent blog on Mortgage Strategy Online titled ’The time for self-pity is over’ argued that the answer to the downturn was to focus on charging a fee for advice.
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Cheap isn't cheerful when it's insurance
13 September 2010
ROBERT MCCOY PRODUCT AND COMMUNICATIONS MANAGER PMS
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Clients' needs come first so we can't shun dual pricing lenders
13 September 2010
Last week, in the wake of Halifax’s decision to slash its direct rates, there were a number of comments on Mortgage Strategy Online from brokers talking about avoiding lenders that dual price.
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Coventry to ditch linked products
13 September 2010
Coventry Intermediaries is pled-ging not to offer linked products as part of its mortgage portfolio.
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Doubt over quantitative easing impact
13 September 2010
Further quantitative easing could boost confidence among financial firms, but will do little to help bank lending, says Capital Economics.
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Economic thaw starts secured loans rate war
13 September 2010
Secured loan lenders have em-barked on a rate war as the sector starts to see signs of recovery.
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Ending interest-only creates a time bomb
13 September 2010
AARON STRUTT PRODUCT AND COMMUNICATIONS DIRECTOR TRINITY FINANCIAL GROUP
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Ensure renters also consider insurance
13 September 2010
IAIN MALLON DIRECTOR OF PROTECTION MARKETING AXA
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FSA makes Margaret Cole its crime czar
13 September 2010
Margaret Cole has been appointed to the Financial Services Authority board as managing director of enforcement and financial crime.
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George Higginson heads list of new hires to Sesame Bankhall's top team
13 September 2010
George Higginson has been app-ointed chief operating officer of Sesame Bankhall, following his departure from Intrinsic as group marketing director in August.
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Government must throw a lifeline to mortgage scheme
13 September 2010
The Mortgage Rescue Scheme is proving its worth after a slow start and is beneficial for both borrowers and lenders
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Green shoots could be ready to blossom
13 September 2010
ROBERT WINFIELD MANAGING DIRECTOR CHARTWELL FUNDING
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Halifax cuts rates to attract more direct business
13 September 2010
Mortgage brokers claim Halifax is slashing its direct rates by up to 0.5% because it is not doing enough business directly.
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Halifax says house prices went up 0.2% last month
13 September 2010
House prices rose 0.2% in August, the latest Halifax house price index shows.
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HSBC fails to break into top five lender league
13 September 2010
HSBC has not ranked in the top five largest mortgage lenders of 2009 and remains in seventh position for the second year running.
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HSBC's latest rates are amazing, if only it dealt with brokers
13 September 2010
Despite the negative comments about its service, HSBC’s two 90% LTV deals that were launched last week had cracking rates. If one lender can provide excellent rates at such a high LTV others should be able to follow.
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In my opinion
13 September 2010
Buy-to-let lending is one sector that is growing and brokers should consider tapping into this market by offering a holistic service to landlords, from sourcing properties to insurance and wills
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Interest-only leaves owners and lenders with significant risk
13 September 2010
The Council of Mortgage Lenders last week warned that the FSA risks killing off interest-only if it followed through with its proposals in the Mortgage Market Review.
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Keeping a check on the checkers is vital
13 September 2010
SOPHIE HALL DIRECTOR OF DISTRIBUTION INTELLIFLO
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Keeping cash flow alive and well is crucial for success
13 September 2010
Clubs can offer brokers the perfect home as the support and prompt payments they can provide is essential for survival
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Keeping score
13 September 2010
There is disagreement over the use of credit scoring, with some alleging it is used by lenders to control business volumes. But one thing is for sure, less than vanilla clients don’t get a look in with credit scores
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Landlords struggle to meet demand for rental property
13 September 2010
Tight funding means the buy-to-let sector can’t cater for the growing numbers who are turning to long-term renting
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LAST WEEK’S WINNER
13 September 2010
“The passage of time had not been kind to Timmy Mallet.” RICHARD LAWTON, PRICAPITA
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Leader: New lender blood needed
13 September 2010
The news last week that 82% of all mortgages went through just five lenders in 2009 was hardly a surprise to anyone in the intermediary market. It was clear that only a small minority of lenders - an elite either propped up by the government or of sufficient size to weather the market blips - was actually lending.
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Lenders reluctant to learn from the past and move on
13 September 2010
Star Letter
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Loyalty benefits for clients and brokers
13 September 2010
DAVID FINLAY INTERMEDIARY BUSINESS DIRECTOR BARCLAYS
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Marketwatch
13 September 2010
The perils of over-consolidation were made clear with the news that 82% of mortgages were done via just five lenders last year. Meanwhile, HSBC and Accord are powering along with some incredible rates
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MMR shows FSA is out of touch with the common man
13 September 2010
The MMR is just another way for the regulator to justify its existence by building a wall of rules.
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MMR will ring the death knell for interest-only
13 September 2010
The Council of Mortgage Lenders has warned that the Financial Services Authority risks killing off interest-only mortgages if it goes through with its Mortgage Market Review.
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Nationwide's system to offer 24/7 case tracking
13 September 2010
IAN ANDREW SYSTEM WILL BE SLICKER
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New lenders won't appear before economy settles, warns Yousefi
13 September 2010
MEHRDAD YOUSEFI MARKET MUST WAIT UNTIL 2012
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One call can put the X Factor in pensions
13 September 2010
MARK CLINTON DIRECTOR MD PENSIONS SOLUTIONS
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Osborne likely to axe pre-Budget report
13 September 2010
Chancellor George Osborne is rumoured to be scrapping the pre-Budget report.
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Our own trade body uses dual pricing in membership fees
13 September 2010
In last week’s Star Letter Michael Norwood makes a good point that brokers don’t have as strong a collective voice within the industry as they ought to.
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Predictions of an 8% base rate are silly season talk
13 September 2010
Andrew Lilico’s assertion that interest rates will rocket by 2012 may be good for grabbing headlines, but that’s about it
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Remortgages slowly but surely returning
13 September 2010
HARPAL SINGH MANAGING DIRECTOR CONVEYANCING ALLIANCE
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Santander to hire 600 to handle RBS branches
13 September 2010
Santander is recruiting 600 staff to cope with its acquisition of the Royal Bank of Scotland branches. The Spanish bank acquired 318 RBS branches and 1.8m customers last month.
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Seek value for money when sourcing cover
13 September 2010
ROGER EDWARDS PROPOSITION DIRECTOR BRIGHT GREY AND SCOTTISH PROVIDENT
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Self-regulation is a sticking plaster for debt advice sector
13 September 2010
For a number of years now we have been calling for formal regulation of the debt advice industry.
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SME failures will hit commercial values
13 September 2010
JASON WERTH MANAGING DIRECTOR SELLMYCOMMERCIALPROPERTY.CO.UK
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The mortgage Mole
13 September 2010
DIGGING THE DIRT IN THE MORTGAGE WORLD…
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Two directors go as Chelsea and Yorkshire merge
13 September 2010
Iain Smith, sales director at Accord Mortgages, and Tom Gurrie, divisional director of intermediary sales at Chelsea Building Society, have been made redundant as a result of Yorkshire Building Society’s merger with Chelsea.
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Your Shout
13 September 2010
The best of the comments from Mortgage Strategy Online
