Mortgage Strategy
23 August 2010
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£150,000 Fine to adviser is one of the FSA's biggest
23 August 2010
MARGARET COLE, DIRECTORS MUST ACT WITH INTEGRITY
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60 seconds with...Neil Warman
23 August 2010
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80% Of advisers do not buy leads, survey shows
23 August 2010
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Affordable housing sector is unfazed by MMR proposals
23 August 2010
The low-cost home ownership sector is resilient and unlikely to be affected by the Mortgage Market Review
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Axing self-cert is not going to make clients reveal all
23 August 2010
Brokers get bad press over self-cert but many never got the full picture as customers withheld key information
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Borrowers pushed towards fraud by lenders' practices
23 August 2010
Banks’ restrictive approach to mortgage lending and business loans will create more mortgage fraud. Why? Because borrowers often have no other option.
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
23 August 2010
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Causing confusion
23 August 2010
Statistics from house price indices vary widely, leaving consumers and professionals puzzled about the state of the property market and its future direction
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CI waters muddied by obscure illnesses
23 August 2010
ROGER EDWARDS, PROPOSITION DIRECTOR, BRIGHT GREY AND SCOTTISH PROVIDENT
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Consumers choosing broker deals over direct when searching online
23 August 2010
JAMES SADLER, BROKER DEALS, IN DEMAND
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Demand prompts HSBC to extend tracker deal
23 August 2010
HSBC is extending its low rate, low fee lifetime tracker mortgage from its original two-week offer period due to exceptional demand.It will run at 1.69% above the Bank of England base rate.
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Ensure clients are protected in old age
23 August 2010
ED STUART-BROWN, HEAD OF PROTECTION, FRIENDS PROVIDENT
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Estate agents unfazed by Rightmove report of 1.7% drop in house prices
23 August 2010
The 1.7% house price drop for August reported by Rightmove is being played down by the National Association of Estate Agents.
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Europe is ready for cautious optimism
23 August 2010
PAUL HUNT, MANAGING DIRECTOR, PHOEBUS SOFTWARE
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Fake documents are so good even police can't recognise them
23 August 2010
Most people couldn’t tell a fake passport or other identity documents from the real thing. Even the police say that some of the fakes are so good they can’t tell the difference either.
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Gross lending up but slow market predicted for 2010
23 August 2010
PAUL SAMTER, LENDING WILL, REMAIN SLOW
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If minor fraudsters were prosecuted it would deter others
23 August 2010
Rooting out fraudulent documents is made harder when so many customers only provide internet bank statements.
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In The Loop founder unsurprised by decision to ditch broker brand
23 August 2010
Linda Will, sales and marketing director and founder of In The Loop Mortgages, says she was unsur-prised by last week’s decision to axe the intermediary brand.
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Investors' flavour of choice is still vanilla
23 August 2010
JASON WERTH, MANAGING DIRECTOR, SELLMYCOMMERCIALPROPERTY.COM
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Islamic Bank of Britain wins Qatar bank boost
23 August 2010
Islamic mortgages are set for growth after the Islamic Bank of Britain received a £20m boost from shareholder Qatar International Islamic Bank.
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LAST WEEK’S WINNER
23 August 2010
“No, I said we’d need a rudder not a Ruddock.”VALERIE GANNE
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Leader: Results of first census are in
23 August 2010
Mortgage Strategy’s first broker census has thrown up some startling results about the way the market is developing. Along with the shockingly high percentage of those polled stating that they didn’t purchase leads, the number of brokers now charging fees is a clear sign that they are looking to shore up their income.
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Lenders' margins on mortgages hit a two-year high
23 August 2010
Moneyfacts.co.uk says the margin between mortgage rates and the cost of funding to lenders via swap rate markets is at an all-time high.Two years ago the margin on a two-year fixed deal was 1.28%, compared with 3.29% today.
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Lenders putting interest-only houses in order
23 August 2010
Lenders are pre-empting the regulator by taking action on interest-only mortgages and advisers would be wise to follow
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Lenders should see original documents to cut down on fraud
23 August 2010
I was interested to read that the National Fraud Authority and the Metropolitan Police have brought together all the key partners in the mortgage community to establish the Mortgage Fraud Forum.
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Lenders warned to take out MIGs
23 August 2010
ANGEL MAS: LENDERS ARE NOT PRUDENT
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Looking forward to Twitter applications
23 August 2010
RICHARD SEXTON, BUSINESS DEVELOPMENT DIRECTOR, E.SURV
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Loosen the noose on interest-only loans
23 August 2010
Lax lending over the past 10 years has been singled out for its role in creating the mortgage time bomb but this does not mean we should do away with interest-only altogether. It just needs tightening up
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Marketwatch
23 August 2010
Swaps fell pretty sharply for the second week in a row to a new all-time low. Hopefully these drops will be passed on. When you look at some of the swap rates and compare them with lenders’ fixed rate offerings there seems to be a pretty big difference.
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Media Spotlight: Our Iceberg Is Melting
23 August 2010
By John Kotter and Holger Rathgeber
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Money laundering rules affect us all
23 August 2010
JOHN MAWDSLEY, CHIEF EXECUTIVE OFFICER, OMNII SOLUTIONS
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More home owners now expect prices to drop
23 August 2010
A survey by YourMove found that almost a quarter of home owners now expect house prices to fall in the next 12 months. This is a huge increase from the 4% who were predicting house price falls just three months ago.
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MPC in wait-and-see mode over base rate but Sentance rebels for third time
23 August 2010
Minutes from the Monetary Policy Committee’s August meeting show rate rebel Andrew Sentance once again voted for a 0.25% rise.
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Nominations for Top Of The League awards unveiled
23 August 2010
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Non-conforming RMBS buoyed by low rate climate
23 August 2010
Fitch Ratings says the performance of UK non-conforming residential mortgage-backed securities is con-tinuing to improve with loans in arrears for three months falling from 19.7% in Q1 2010 to 18.6% in Q2.
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Outsourcing affordability checks may create two-tier proc fee model
23 August 2010
RAY BOULGER, BROKER PROC, FEES WILL VARY
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Partner up to boost profit without pain
23 August 2010
JASON BERRY, SALES AND MARKETING DIRECTOR, SAFE&SECURE
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Policies need to offer choice and flexibility
23 August 2010
JAMES WATSON, SALES AND MARKETING DIRECTOR, PAYMENTSHIELD
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Post Office cuts rates and offers 65% LTV deal
23 August 2010
The Post Office has cut rates across its fixed, tracker and buy-to-let mortgages. The changes coincide with the launch of a 65% LTV deal at 2.85%.
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Property specialist urges caution over arrears
23 August 2010
Residential Property Solutions has warned mortgage brokers not to be lulled into a false sense of security by arrears forecasts
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Rent arrears dive as year-on-year B2L returns jump
23 August 2010
Rent arrears hit a two-year low of £213m in July despite landlords raising rents for the sixth month in a row.
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Rewarding brokers who are best in class
23 August 2010
DAVID FINLAY, INTERMEDIARY BUSINESS DIRECTOR, WOOLWICH
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Scorecards are not there just to annoy
23 August 2010
ALAN CLEARY, MANAGING DIRECTOR, PRECISE MORTGAGES
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Single customer view system will help businesses
23 August 2010
For deposit-takers to collate customer data into one system will mean extra cost but the benefits will be far-reaching
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Societies' losses in commercial arena should be limited
23 August 2010
Fitch Ratings says improved mana-gement means building societies are less likely to face commercial real estate losses in 2010 compared with 2009.
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Specialist firms are a safe pair of hands
23 August 2010
DAVE PINNINGTON, BUSINESS DEVELOPMENT DIRECTOR, V LOANS
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Standard proc fees will demonstrate we are impartial
23 August 2010
With regard to the proc fee debate I am against a ban on proc fees. It is a fee that lenders pay to brokers to deal with applications and customers on their behalf.
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Sticky situations that surveyors get themselves into
23 August 2010
Getting locked in a house and stuck on a roof are just a few of the mishaps that have dogged my glittering career
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Take advantage of holiday season to target customers
23 August 2010
Even in the quiet summer months there are a plethora of leads to buy, with prices as low as a few pounds
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The Mortgage Mole
23 August 2010
DIGGING THE DIRT IN THE MORTGAGE WORLD…
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We need to get some perspective on what caused the recession
23 August 2010
We need to get a sense of perspective, which is completely lacking lacking at the moment. We have just endured the worst recession in 60 years and the mother of all credit crunches.
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We need to save the public from banks' grasping tentacles
23 August 2010
One of the debates on Mortgage Strategy Online last week was how the future would be with brokers charging a fee for advice instead of a proc fee.
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We need to solve the lending conundrum
23 August 2010
CHRISTOPHER TAYLOR, CHIEF EXECUTIVE OFFICER, LONDON & EUROPEAN
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We're here to help intermediaries, not compete with them
23 August 2010
In response to the letter titled ’Let us professionals dish out the advice, Goldsmith Williams’ in the last issue (Mortgage Strategy August 16), I think the writer misunderstood Goldsmith Williams’ intentions when they suggested that we should stick to conveyancing rather than offer financial advice.
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Wrong to blame packagers for risky lending practices
23 August 2010
STAR LETTER
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yourshout
23 August 2010
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