Mortgage Strategy
30 May 2011
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£600M is price Nationwide paid for base mortgage rate pledge last year
30 May 2011
GRAHAM BEALE, COMMITTED TO FIRST-TIMERS
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60 seconds with...Julian Hartley
30 May 2011
Mortgage Director, ING Direct
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After the surrender
30 May 2011
Banks have given up their fight on PPI and set aside billions to pay compensation for mis-selling policies. But their fruitless attempt to fight the FSA will cost them more in terms of reputation and customer trust. By Samuel Dale
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Aim for a first-time resolution
30 May 2011
Dealing with PPI complaints could prove to be an administrative nightmare for firms, especially smaller ones as they will need to find staff with customer service skills and knowledge of the financial industry. And of course the reputation of companies is on the line if they get it wrong
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All signs are pointing to a lending increase
30 May 2011
GEMMA HARLE, MANAGING DIRECTOR, TENET LIME
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Behave like a lender and reject network for no good reason
30 May 2011
I read with interest the story in last week’s Mortgage Strategy that said Citri’s future was in doubt after its deal with Openwork fell through.
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Blanchflower warns prices may drop 15%
30 May 2011
House prices will fall by up to 15% over the next couple of years, a leading economist has warned.
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BoS fined £3.5m over mishandling complaints
30 May 2011
The Financial Services Authority has fined Bank of Scotland £3.5m for mishandling complaints about retail investment products.
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Branson eyeing high street banks
30 May 2011
Virgin founder Richard Branson is believed to be mounting a multi-million pound bid for Northern Rock and 600 Lloyds Banking Group branches.Branson met Antonio Horta-Osoria, chief executive of Lloyds Banking Group, last week.
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Bridgebank boss is wrong on scarcity of bridging finance
30 May 2011
I was interested to read comments by Laurence Goodman, managing director of Bridgebank Capital, at the Mortgage Business Expo in Manchester recently.
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Bridging sector must work to dispel myths
30 May 2011
NIGEL ALEXANDER, DIRECTOR, FINCORP
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Brokerage goes into administration
30 May 2011
Payment protection insurance broker Wimslow Financial Services has gone into administration.
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Brokers claim Shelter survey lacks credibility
30 May 2011
DAVID SHEPPARD, SURVEY LACKS, BALANCE
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
30 May 2011
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Consumers should make interest-only decision, not FSA
30 May 2011
I was not surprised to read on Mortgage Strategy Online last week that Halifax Intermediaries is now requesting evidence of a repayment vehicle for interest-only loans before they reach offer stage.
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Dates for your DIARY...
30 May 2011
JUNE 1Building Societies Association’s savings and mortgage data publishedThe trade body releases its monthly report for April.
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Demand and house prices dependant on people's ability to pay
30 May 2011
After reading a letter in last week’s Mortgage Strategy entitled ’Silly comments on house prices ignore supply and demand,’ I felt obliged to write in.
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Fixed remortgage product would help clients cut debt
30 May 2011
*STAR LETTER
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Flexible technology will keep data safe
30 May 2011
MARK BLACKWELL, MANAGING DIRECTOR, XIT2
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Good news on B2L is tempered by bad
30 May 2011
BOB YOUNG, MANAGING DIRECTOR, CHL MORTGAGES
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Halifax demands proof of repayment plan for interest-only
30 May 2011
Halifax Intermediaries will now require evidence of the repayment plan for borrowers taking out an interest-only mortgage before it proceeds to offer stage.
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High street lending hit £7.9bn mark in April
30 May 2011
Gross mortgage lending by high street banks rose to £7.9bn in April, up from £7.8bn in March, says the British Bankers’ Association.
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If it's good enough for B2L, it should be fine for main homes
30 May 2011
I was disappointed to see that Halifax Intermediaries is restricting its interest-only lending further.
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Innovation needed to stay in the game
30 May 2011
SOPHIE HALL, DISTRIBUTION DIRECTOR, INTELLIFLO
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LAST WEEK'S WINNER
30 May 2011
“The Safe & Secure lads prove that when it comes to singing, Britain’s got no talent at all.”KEN WILKINSON
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Lateral thinking is needed to overcome shortfall in finance
30 May 2011
Bank of England figures show the banks are still not meeting the lending targets set under their Project Merlin agreement.
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Leader: Don't talk about the MMR
30 May 2011
If you want to create a debate in the mortgage industry, just mention the Mortgage Market Review. It’s safe to say if the Council of Mortgage Lenders and Shelter were attending a dinner party the MMR, along with politics and religion, would join the list of unsuitable dinner conversations.
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Make agencies pay for failure
30 May 2011
The financial crisis has highlighted the failings of the paid-by-sellers credit ratings model. Now there are calls for ratings agencies to be held accountable for their mistakes
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Manager of the Month - May
30 May 2011
Michelle Niziol, IMS Independent Mortgage Solutions, Director
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Marketwatch
30 May 2011
It’s good to see lenders passing on swap rates reductions at all LTVs. And it’s scary that the cost of helping borrowers with the Mortgage Rescue Scheme is three times more than expected - at £92,307 per home
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Media Spotlight: Adapt
30 May 2011
By Tim Harford
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Moody's has 14 lenders in downgrade review
30 May 2011
Moody’s has 14 lenders in downgrade review Moody’s has put 14 banks and building societies under review for a possible downgrade. The list includes Lloyds TSB, Santander UK and the Royal Bank of Scotland.
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Moody's piles more pressure on banks
30 May 2011
A decision by Moody’s to put 14 lenders on review for a possible downgrade last week was unwelcome news for banks and building societies.
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Mortgage scheme saves less than half of borrowers targeted
30 May 2011
The government’s Mortgage Rescue Scheme helped fewer than half the number of people avoid repossession than originally planned, according to a damning report by the National Audit Office.
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Mortgage-related searches up 71%
30 May 2011
The number of online searches for mortgage-related terms soared by 71% between October 2010 and January 2011, research from marketing agency Greenlight shows.
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Nationwide has no clue how to treat its customers fairly
30 May 2011
I believe in treating customers fairly, but unfortunately too many lenders don’t.
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Nothing wrong with near-prime lending if screening is robust
30 May 2011
I recently took part in Mortgage Strategy Online’s poll on the near-prime market.
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Paragon to boost lending after its parent notches up £39.5m profit
30 May 2011
John Heron, managing director of Paragon Mortgages, says his firm has a substantial appetite to lend after its parent revealed a £39.5m pre-tax profit last week.
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Player of the Month - May
30 May 2011
Mark McLeod, London & Country, Mortgage adviser
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Precise unveils short-term deals
30 May 2011
Precise Mortgages launched its short-term lending range last week.
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Pulling the plug will be painful
30 May 2011
While quantitative easing appears to have boosted growth, stopping it could plunge the economy into shock, damage household finances and slow down lending
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Service quality will determine your fees
30 May 2011
PHIL WHITEHOUSE, HEAD, THE MORTGAGE ALLIANCE
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Targeting talent
30 May 2011
The industry needs to nurture the next generation of advisers and training schemes or apprenticeships could be the way forward
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Teachers links up with Mortgage Intelligence
30 May 2011
Teachers Building Society has launched to the broker market via Mortgage Intelligence. It is offering a 2.24% two-year discount for remortgages, a 2.99% two-year discount for house purchases and a 4.99% three-year discount for buy-to-let. All deals are available up to 75% LTV.
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Tesco entry shows its confidence in market
30 May 2011
PAUL NYE, BUSINESS DEVELOPMENT DIRECTOR, STONEBRIDGE GROUP
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The many lives of Northern Rock
30 May 2011
With the good bank of Northern Rock up for grabs as the de-nationalisation process begins, the usual suspects have been hovering around for rich pickings. But there is a campaign for the lender to be re-mutualised via the creation of a new society or through a takeover
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The Mortgage Mole
30 May 2011
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Unsecured debt is popular portfolio
30 May 2011
BRIAN PITT, MANAGING DIRECTOR, ROCKSTEAD
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Using Halifax means brokers are giving bad advice to clients
30 May 2011
I was surprised to see that Halifax is asking for extra documentation for its interest-only deals before an offer can be made.I have no problem supplying the extra documentation but I do have a problem with any broker using Halifax as it is effectively giving bad advice.This is because a client can go direct to Halifax and get a better rate direct. When is Lloyds Banking Group going to admit that it doesn’t want any broker business?Craig Taggart
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We must think of quality not just quantity
30 May 2011
Jason Orme, editor of Homebuilding and Renovating, sheds light on the issues affecting the housing industry
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West Brom reports £13.1m pre-tax loss
30 May 2011
West Brom Building Society has reported a pre-tax loss of £13.1m for the year to March 31 2011 against a £18.5m loss the previous year.
