Mortgage Strategy
31 May 2010
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60 Seconds with...
31 May 2010
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90% Of HoC ARs move over to First Complete
31 May 2010
More than 90% of Home of Choice appointed representatives have transferred across to trade under the First Complete banner, with around 500 of the original 540 signing new contracts.
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Advisers can score with summer leads
31 May 2010
JUSTIN REES HEAD OF MARKETING LEADPOINT UK
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AMI warns of a market share attack by lenders
31 May 2010
ROBERT SINCLAIR BANK BRANCHES ARE PRETTY DEAD
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Approved persons proposal is a clear case of FSA overkill
31 May 2010
The Association of Mortgage Intermediaries’ recent warning that the regulator is adopting a retrospective authorisation process for approved persons and this could result in brokers not gaining authorisation for minor credit blips shows once again that the FSA likes to use a sledgehammer to crack a nut.
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April lending figure lowest since 2001
31 May 2010
Net mortgage lending was just £1.8bn in April, down from £2.3bn in March and the lowest since February 2001, figures from the British Bankers’ Association show.
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Broker credit blips are irrelevant to the way they do the job
31 May 2010
AMI’s warning that minor credit blips could lead to brokers not gaining approval signals one more way the intermediary market is being diminished.
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Brokers deserve fees from conveyancers
31 May 2010
EDDIE GOLDSMITH SENIOR PARTNER GOLDSMITH WILLIAMS
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Brokers will soon be told to obtain proof of clients' income, says AMI
31 May 2010
The Association of Mortgage Inter-mediaries says obtaining proof of income will soon be mandatory for brokers, after the regulator revealed last week that not all small brokers request it from clients.
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Calling any lawyers who can get justice for home inspectors
31 May 2010
I am a qualified home inspector who paid a lot of money to train - money I had to borrow.
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
31 May 2010
Can you put the boot in to your nearest and dearest to win this delectable bottle of bubbly? In addition, competition sponsor Tiuta will donate £100 to Great Ormand Street Hospital. Submit a witty caption for the photo above and you will be automatically entered into our prize draw. Remember, the funnier it is, the more likely you are to win.What are you waiting for?Email only printable captions to mortgage.strategy@centaur.co.uk
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Coalition calm set to be conducive to bricks and mortar
31 May 2010
New government policies will stimulate the housing market and prices will strengthen as a result of growing confidence
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Co-op Bank and Britannia unveil fixed rate deals
31 May 2010
The Co-operative Bank and Britannia are launching two fixed rate deals starting from 2.95%. The products include a two-year fixed rate at 2.95% up to 75% LTV and a five-year fixed rate at 3.99%, again up to 75% LTV.
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Criticism of FSA's approved persons plan is overblown
31 May 2010
While I have the greatest respect for Robert Sinclair and everyone at the AMI the suggestion that the FSA’s approved persons assessment could mean brokers with minor credit blips are excluded is overblown.
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Data security risks of cloud computing
31 May 2010
MARK BLACKWELL MANAGING DIRECTOR XIT2
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Dates for your DIARY
31 May 2010
June 10Monetary Policy Committee meetingWith Gary Styles, risk and economics director at Hometrack, warning that even modest base rate increases could have dire consequences for both mortgage pricing and the housing market the outcome of this month’s Monetary Policy Committee meeting should be a no-brainer, with another hold in prospect.
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Don't rush into the wrong relationship
31 May 2010
GEMMA HARLE MANAGING DIRECTOR TENETLIME
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Economic tracker, Death of HIPs may spark more activity
31 May 2010
GRENVILLE TURNER GROUP CHIEF EXECUTIVE OFFICER COUNTRYWIDE
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Five-year fixed rate deals up tenfold in three years
31 May 2010
Five-year fixed rate mortgage deals have increased tenfold since April 2007, according to Moneysupermarket. com. Three years ago there were just 39 five-year fixed rate deals compared with the 411 currently available.
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FSA introduces £1,000 flat fee for mortgage firms
31 May 2010
The Financial Services Authority has followed through with its plan to introduce a £1,000 flat fee for regulated mortgage firms - a 33% fee increase.
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Get new-build funds to first-time buyers
31 May 2010
GRAHAM FELSTEAD HEAD OF INTERMEDIARY CHANNEL ROYAL BANK OF SCOTLAND
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Giving up the ghost
31 May 2010
Many in the industry will be pleased to see the death of Home Information Packs but the problems they were introduced to address will continue to haunt the process of buying and selling property
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Government can't let housing equity be frittered away
31 May 2010
I was interested to read last week’s leader headlined ’Less rhetoric, more action’, in particular the line - ’And if getting people onto the property ladder is not a priority, where are the tax breaks and other measures to encourage landlords and institutional investors to provide affordable rental accommodation?’.
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HIP inspectors and home sellers have been treated badly
31 May 2010
My partner has almost completed the Home Information Pack course and now it seems it’s all been a waste of time and money.
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HIPs' removal will free up market activity
31 May 2010
In an overdue flash of common sense the new government has announced the abolition of Home Information Packs with immediate effect, pending formal legislation to abolish the packs permanently.
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I will not be falling for Nationwide's unfair SVR tricks
31 May 2010
I am a broker and have a Nationwide mortgage. I went onto its base mortgage rate earlier this year and since then have been bombarded with letters and telephone calls asking me to take a new product from it.
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In my opinion
31 May 2010
A report on the selling of payments protection insurance at point-of-sale has generated more questions than answers, particularly on MPPI as it is unclear what constitutes the actual point-of-sale for the product
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It's clients who pay when brokers avoid dual pricing lenders
31 May 2010
With regard to comments by many brokers that they avoid lenders that dual price, how do they manage to do any business?
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Kensington added to Paradigm lender panel
31 May 2010
Paradigm Mortgage Services has added Kensington to its lender panel.
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Kensington boss joins CML as part of executive team
31 May 2010
Keith Street, head of Kensington, has been appointed to the executive committee of the Council of Mort-gage Lenders.
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LAST WEEK’S WINNER
31 May 2010
CHRISTOPHER CONEINDEPENDENT MORTGAGE SOLUTIONS“The winners weren’t impressed when they were told they had to give Dean a lift home.”
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Leader: Still standing, still needed
31 May 2010
The news last week that the number of mortgage brokers has shrunk to a new low of 12,500 is further evidence of the high price the market has paid during the credit crunch.
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Lenders are getting the balance right with falling arrears
31 May 2010
Arrears and repossession are slowing but lenders must not rush to loosen their criteria when conditions change
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Lenders warned on insider scams
31 May 2010
Fraud committed by firms’ own staff has risen to 60% in the US, and industry experts are warning the situation is just as bad in the UK.The US findings were put to-gether by the Texas-based Association of Certified Fraud Examiners.
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Lending rise shows true value of advice
31 May 2010
DAVID FINLAY INTERMEDIARY BUSINESS DIRECTOR BARCLAYS
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Lloyds and RBS are doing well, says ratings agency
31 May 2010
Standard & Poor’s says it is en-couraged by the progress made by Lloyds Banking Group and the Royal Bank of Scotland on their recovery plans, despite shares in the two banks falling almost 6% last Tuesday.
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Lloyds group caves in and ups SVR at C&G
31 May 2010
Lloyds Banking Group has buckled under the pressure of low interest rates and introduced a higher SVR for new Cheltenham & Gloucester borrowers.
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Management to buy Mortgageforce
31 May 2010
West Bromwich Building Society revealed last week that it has agreed in principle to sell Mortgageforce to the management team.
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Marketwatch
31 May 2010
Precise Mortgages and Aldermore entering the market was welcome news while recruitment moves at Portillion and Platform also seem to indicate better times ahead in the specialist sector
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Media Spotlight, Who Moved My Cheese? By Dr Spencer Johnson
31 May 2010
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Merger creates financial leads giant
31 May 2010
Leadbay’s parent Add Momentum Holdings has merged with All About Group, owner of All About Leads, to create the largest financial services lead generation firm in the country.
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MMR was flawed from the outset and should be deferred, says CML
31 May 2010
MICHAEL COOGAN MMR IS A RECIPE FOR UNCERTAINTY
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Mortgage Brain rolls out updated system to brokers
31 May 2010
Mortgage Brain has rolled out the latest version of its sourcing system which allows brokers to carry out around 90% of sourcing activity from a single screen.
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Mortgage process made me realise brokers’ value
31 May 2010
I don’t have to tell readers that the past three years have been hard for mortgage brokers but even I wasn’t aware of how tough it has been until I experienced for myself the frustration of trying to place a mortgage.
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Nationwide may be regretting its stance on dual pricing now
31 May 2010
I am interested to note that Nationwide’s profits have fallen by 46%.Perhaps if it hadn’t adopted a dual pricing policy it would still have the backing of advisers and therefore possibly more business.Unfortunately for Nationwide, I have a long memory and try my utmost not to put business its way.STEVE RODLEY
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Nationwide sees 46% profit plunge due to BMR promise to borrowers
31 May 2010
GRAHAM BEALE LOW BMR HAS COST US £450M
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New entrants chase away Monday blues
31 May 2010
JOHN MURRAY CONSULTING EDITOR LENDING STRATEGY
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No need for drama to become tragedy
31 May 2010
ROGER EDWARDS PROPOSITION DIRECTOR BRIGHT GREY AND SCOTTISH PROVIDENT
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OFT examines barriers to entering lending market
31 May 2010
The Office of Fair Trading is to look at how easy it is for new players to enter the lending market as it aims to boost competition in the banking sector.
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Poorly thought out packs bite the dust
31 May 2010
CHRISTOPHER TAYLOR CHIEF EXECUTIVE OFFICER LONDON & EUROPEAN
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Q1 GDP growth figure is revised up to 0.3%
31 May 2010
Gross domestic product grew by 0.3% between January and March, up from the original estimate of 0.2%, figures from the Office for National Statistics show.
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Rates likely to stay low for some time
31 May 2010
PAUL SAMTER ECONOMIST COUNCIL OF MORTGAGE LENDERS
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Referral partners can ensure clients are taken care of
31 May 2010
Creating partnerships with firms that can offer expertise in other areas is better than trying to be a jack of all trades
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Retirement Plus gears up again with further advances
31 May 2010
Retirement Plus is now offering further advances.
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Rooms at the top can be a good bet for canny lenders
31 May 2010
Nationwide’s decision not to lend on council flats that are more than five storeys high makes no sense at all
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Shortage of homes for sale boosted lettings market in Q1
31 May 2010
The lettings market saw a sharp upturn in Q1 2010 as a shortage of homes pushed rents higher.
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Small rise in base rate could shrink lending volumes
31 May 2010
A modest rise in interest rates in the next two years would have damaging consequences for lending that might have been underestimated, Hometrack has warned.
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The mortgage mole
31 May 2010
Lost for words It seems that barely a day goes by on Mortgage Strategy Online without a broker slinging an insult or two in the direction of the Financial Services Authority.
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The regulator must look more closely at lenders, not brokers
31 May 2010
I recently asked an employed chef for payslips and a P60 only to be told his employer provides neither.He went along to his local Halifax branch and - surprise, surprise - it told him this was not a problem. We brokers don’t lend and supply everything lenders request so why make us responsible for income verification?The regulator should scrutinise lenders more closely and stop picking on us little guys.
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The time is right to get funding flowing
31 May 2010
ALAN CLEARY MANAGING DIRECTOR EXACT AND PRECISE MORTGAGES
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Three ways to avoid double dip disaster
31 May 2010
ADAM TYLER CHIEF EXECUTIVE NACFB
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Welfare reform is a chance to sell cover
31 May 2010
ED STUART-BROWN HEAD OF PROTECTION SALES FRIENDS PROVIDENT
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Yorkshire launches FTB range via direct channel
31 May 2010
Yorkshire Building Society is launching a first-time buyer range up to 85% LTV through its direct channel with no upfront fees and £500 cashback.
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Zeroing in
31 May 2010
I heard an interesting fact recently that put the scale of UK debt into perspective.How long is a million seconds? The answer is roughly 11.5 days but how long is a billion seconds? Three months? Six months? I was staggered to learn it’s more than 33 years.I haven’t even thought about how long a trillion seconds is and I don’t think my calculator will allow me enough zeros anyway. So when you hear billions being thrown around, bear this fact in mind.
