Mortgage Strategy
28 June 2010
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1St Exchange buys N4 to expand mortgage capability
28 June 2010
1st Exchange has acquired N4 Solutions, expanding the technology solutions provider’s reach in the mortgage market.
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60 seconds with...Stephen Atkins
28 June 2010
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A third of Money Partners' book in long-term arrears
28 June 2010
More than 30% of Money Partners’ loan book is in arrears of over 90 days, Moody’s revealed last week.
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Average two-year fixed rate lowest since 2003
28 June 2010
The average two-year fixed rate mortgage has fallen to its lowest level in seven years. Standing at 4.52% the rate has not been as low since September 2003 when it was 4.51%, figures from Moneyfacts.co.uk show.
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Balance required if buy-to-let sector is to be regulated
28 June 2010
Any regulation of buy-to-let should protect inexperienced landlords without discouraging much-needed investment
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Bank levy predicted to raise £1.15bn in 2011
28 June 2010
The government is to introduce a bank levy from next January. In its first year the levy is forecast to bring in revenues of £1.15bn, based on a 0.04% tax on the total size of each bank’s assets. The tax will rise in the second year to 0.07%, taking revenue to £2.32bn.
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Benefit caps might make parents take more responsibility
28 June 2010
With regard to the caps on benefits in the Budget, nobody wants child poverty in the UK and imperfect as it is, nobody has come up with a better system to address this than to give benefits to parents.
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
28 June 2010
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CGT hike of just 10% leaves B2L sector breathing a sigh of relief
28 June 2010
Buy-to-let investors escaped a hefty rise in Capital Gains Tax in last week’s emergency Budget, with chancellor George Osborne only increasing the levy by 10%.
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Commercial boss quits role at First Complete
28 June 2010
John Ahmed has left his job as commercial director at First Complete, the network formerly known as Home of Choice.
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Conservatory or orangerie - it's a matter of fashion
28 June 2010
Word usage is always changing, not least in the world of housing where staying ahead of the Joneses is key
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Darwinian theory of data protection
28 June 2010
MARK BLACKWELL, MANAGING DIRECTOR, XIT2
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employee of the month
28 June 2010
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Ensure doer-uppers consider protection
28 June 2010
IAIN MALLON, DIRECTOR OF PROTECTION MARKETING, AXA
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Expect more enforcement action on poor arrears handling, says the FSA
28 June 2010
The Financial Services Authority has warned the industry to brace itself for more fines for the poor handling of borrowers in arrears.
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Fannie and Freddie teeter on the brink
28 June 2010
Paul Muolo
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First4cover added to MI insurance panel
28 June 2010
Mortgage Intelligence Holdings has added general insurance provider First4cover to its panel.
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Focus required as FSA is phased out
28 June 2010
CHRISTOPHER TAYLOR, CHIEF EXECUTIVE OFFICER, LONDON & EUROPEAN
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FSA's requirements on proof of income are stifling recovery
28 June 2010
I pay a monthly charge and 10% of my earned income to my network. For this, it reviews my compliance procedures, including proof of income on my files on an ad hoc basis.
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Government speaks of helping the poor but slashes benefits
28 June 2010
I’ve just watched chancellor George Osborne deliver his emergency Budget.
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Growth forecast for next year is reduced to 2.3%
28 June 2010
The UK growth forecast has been revised down to 2.3% in 2011. The economy is now predicted to grow by 1.2% this year, 2.3% next year, 2.8% in 2012, 2.9% in 2013 and 2.7% in both 2014 and 2015.
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Hard times call for sensible planning
28 June 2010
ROGER EDWARDS, PROPOSITION DIRECTOR, BRIGHT GREY AND SCOTTISH PROVIDENT
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Helping customers get HomeBuy loans
28 June 2010
GRAHAM FELSTEAD, HEAD OF INTERMEDIARY CHANNEL, NATWEST INTERMEDIARY SOLUTIONS
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Hoping for a return of that 1966 feeling
28 June 2010
ROGER MORRIS, SALES AND MARKETING DIRECTOR, AFFIRMATIVE
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Housing benefit capped in plan to save £1.8bn
28 June 2010
Housing benefit is to be capped as part of a £1.8bn savings plan. Benefit will be capped at £280 a week for one-bedroom properties and £400 for four-bedroom homes.
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IMLA says cut in SMI will add to borrowers' woes
28 June 2010
The Intermediary Mortgage Len-ders Association has criticised the timing of the government’s cut to the Support for Mortgage Interest scheme.
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Interest-only and fast-track deals are suitable for many
28 June 2010
In response to Lesley Titcomb’s comments on interest-only mortgages there are many clients who have genuine reasons for wanting to take out an interest-only mortgage and they should not be discriminated against if it suits their circumstances.
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Junk the approved persons plan and keep things simple
28 June 2010
In response to the news that the FSA is to extend its approved persons regime, this seems to be a sledgehammer to crack a nut.
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Landlords' interest in buying property grows
28 June 2010
The proportion of landlords planning to buy property nearly doubled in Q2 2010 to 21% compared with 11% in Q1, according to Paragon Mortgages.
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LAST WEEK’S WINNER
28 June 2010
“That bloke in the blue shirt doesn’t know I pinched this medal from him.”KANTI KALIDAS ONE4U MORTGAGES
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Leader: Approval and disapproval
28 June 2010
The Financial Services Authority entered uncharted territory last week by doing something brokers actually agreed with - introducing its approved persons regime.
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Lender analysis can lead to more product options
28 June 2010
Our range of deals for couples is an example of the innovative approach brokers have been waiting for
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Lending at higher LTVs remains thin on the ground, says the FSA
28 June 2010
Lenders are still failing to offer borrowers high LTV mortgages, latest data from the Financial Services Authority reveals.
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Market could slow after Budget rush
28 June 2010
DEAN JONES, HEAD, PAALEADS.COM
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Marketwatch
28 June 2010
JONATHAN CORNELL, HEAD OF COMMUNICATIONS, FIRST ACTION FINANCE
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Media Spotlight: The Truth About Markets
28 June 2010
By John Kay
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Nationwide offers existing clients £300 to switch deals
28 June 2010
DAVID DOOKS: BIG BANKS ARE TOP PROVIDERS
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One MPC member voted for 0.25% hike in base rate
28 June 2010
The minutes of June’s Monetary Policy Committee meeting reveal that one member voted in favour of raising the Bank of England base rate by 0.25%.
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Online regulation would push work towards advisers
28 June 2010
Tightening the rules on online mortgage information could be good news for lead generators and brokers
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Phoenix directors could face scrutiny by the FSA
28 June 2010
REGULATOR WILL JUDGE CASES INDIVIDUALLY
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Platform hopes seven-year deal will plug a gap
28 June 2010
Platform is launching a seven-year fixed rate deal today.
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Post Office cover deal makes brokers see red
28 June 2010
Brokers are threatening to boycott an insurance product launched by the Post Office for them last week, because of its direct-only stance.
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Post-crunch pay-off for stronger brands
28 June 2010
TIM JORDAN, HEAD OF RESIDENTIAL PROPERTY, FORSHAWS DAVIES RIDGWAY
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Precise goes live with DPR mortgage system
28 June 2010
Precise Mortgages is the latest lender to go live with DPR Consulting’s mortgage origination system. The system provides brokers with an online portal that includes Key Facts Illustrations, paperless applications and full case tracking.
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Primrose Associates goes under leaving debts of £5m in its wake
28 June 2010
Primrose Associates was placed into liquidation last week, leaving behind debts of £5m.
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Regime change
28 June 2010
Scrapping the FSA is clearly an attempt to change the regulatory culture but whether this will succeed or not is anybody’s guess
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Regulating lending would be pointless
28 June 2010
ROBERT WINFIELD, MANAGING DIRECTOR, CHARTWELL FUNDING
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Regulator pledges to stay sharp in rooting out industry wrongdoing
28 June 2010
Margaret Cole, director of enforce-ment at the Financial Services Authority, has warned that the regu-lator will continue to bare its teeth when it comes to taking enforcement action against firms.
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Spinnaka will manage More 2 Life valuations
28 June 2010
Spinnaka, the valuation distribution and management specialist, has been selected as More 2 Life’s preferred partner to manage its valuation process.
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Stamp Duty exemption for FTBs to be reviewed
28 June 2010
There is to be a review of the Stamp Duty exemption for first-time buyers on homes up to £250,000.
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The buy-to-let sector should be nurtured
28 June 2010
BOB YOUNG, MANAGING DIRECTOR, CAPITAL HOME LOANS
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the mortgage mole
28 June 2010
DIGGING THE DIRT IN THE MORTGAGE WORLD…
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There's no need to give B2L landlords a capital tax break
28 June 2010
The Association of Residential Lettings Agents’ claim that if rental homes are lost from the sector because of changes to Capital Gains Tax it will result in fewer people being able to keep a roof over their heads is nonsense.
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This interest-only crusadewill bring misery if rates rise
28 June 2010
I disagree with Lesley Titcomb, director of small firms at the FSA, on the subject of interest-only mortgages.
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Unify the rules on debt management
28 June 2010
BRIAN FERGUSON, DIRECTOR, INVOCAS FINANCIAL
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VAT to be increased from 17.5% to 20% in January
28 June 2010
From January 4 VAT will rise from 17.5% to 20%. Food and children’s clothing will remain exempt from the tax.
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Voxpop
28 June 2010
It was hastily arranged within 50 days by the new coalition government and dubbed the emergency Budget. Chancellor George Osborne set the scene for his speech with the opening line: “Yes it’s tough, but it’s also fair.” We spoke to leading commentators about the likely impact of the Budget on the industry.
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We’re constantly refining Woolwich’s funds system
28 June 2010
It was disappointing to read the letter from Howard Woods entitled ’There has to be a better way to book funds at Woolwich’ (Mortgage Strategy June 14) in which he explains how he was unable to book funds.
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Your sporty clients need income cover
28 June 2010
ED STUART-BROWN, HEAD OF PROTECTION, FRIENDS PROVIDENT
