Mortgage Strategy
4 October 2010
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129 Firms warned to shape up or lose their licence
4 October 2010
The Office of Fair Trading has told 129 debt management firms they face losing their consumer credit licences unless they take immediate action to comply with its debt management guidance.
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60 Seconds with...Paul Broadhead
4 October 2010
Head of mortgage policy, Building Societies Association
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At last a sane voice amid interest-only hyperbole by FSA
4 October 2010
I was interested to read last week that the Building Societies Association had hit out at proposed changes to interest-only by the Financial Services Authority, claiming it could considerably restrict the market.
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August approvals hit six-month low
4 October 2010
Mortgage approvals fell in August to their lowest level since February, remaining below 100,000 for the third consecutive month, Bank of England data shows.
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August mutual lending unchanged from July
4 October 2010
Gross mortgage lending by mutuals was £2bn in August, which is unchanged on July, the Building Societies Association reveals.
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Boost the economy with confident talk
4 October 2010
GEMMA HARLE, MANAGING DIRECTOR, TENETLIME
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Borrowers shave billions off their mortgages in Q2
4 October 2010
Home owners repaid £6.2bn of mortgage debt in Q2 2010, higher than the £5.3bn paid off in Q1, data from the Bank of England reveals.The Bank has revised its Q1 figure upwards from the originally published £3.2bn.
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Brokers are missing Stockton's point on SVR opportunities
4 October 2010
I was interested to read the negative comments on Mortgage Strategy Online in response to the comments made by Nigel Stockton, outgoing sales director of mortgages at Lloyds Banking Group, about the number of borrowers on its SVR and that dual pricing did not really matter.
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Brokers must broaden their horizons as
4 October 2010
STAR LETTER
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
4 October 2010
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Carruthers to head up Ulster Bank mortgages
4 October 2010
Steve Carruthers has joined the Royal Bank of Scotland-owned Ulster Bank as head of intermediary mortgages. He joins from NatWest Intermediary Solutions, where he was head of national accounts.
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CML proposes methods to bring interest-only back from the brink
4 October 2010
The Council of Mortgage Lenders has suggested an alternative to banning interest-only, as one industry expert says the Financial Services Authority is right to restrict this type of lending.
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CML warns debt pressure will rise with ISMI cuts
4 October 2010
The Council of Mortgage Lenders is urging the government not to cut Income Support for Mortgage In-terest any further.
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Dates for your DIARY...
4 October 2010
OCTOBER 5 Mortgage funding annual conference The Council of Mortgage Lenders’ sixth annual Mortgage Funding Conference takes place tomorrow in London - the press aren’t invited so they’ll be nothing from us but they shouldn’t be short of things to talk about.
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Ensure clients plan for financial future
4 October 2010
ROGER EDWARDS, PROPOSITION DIRECTOR, BRIGHT GREY AND SCOTTISH PROVIDENT
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Fight fraudsters with due diligence
4 October 2010
JOHN MALONE, BROKERS MUST DO MORE CHECKS
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Financial services decline puts focus back on property
4 October 2010
Market commentators are extolling the virtues of diversification and the charging of fees by brokers to survive what is now widely expected to be a further two years of a stagnant financial services market.
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Fraud alert
4 October 2010
With attempted fraud on the rise and fraudsters getting more sophisticated, brokers must ensure they don’t become soft targets by doing robust due diligence on all cases
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Free arrangement fee for latest Coventry deals
4 October 2010
Coventry Intermediaries is launching a range of fixed rate residential and buy-to-let deals with no arrangement fees. The fixed rates are three-year products at 3.59% up to 65% LTV and 3.79% at 75% LTV. There is also a three-year buy-to-let fix at 4.49% up to 50% LTV.
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FSA's steamroller must be stopped as it will cause havoc
4 October 2010
Restricted competition, stifled innovation and fewer brokers will be the unintended result of the MMR
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Hope trade bodies' efforts will pay off
4 October 2010
ALAN CLEARY, MANAGING DIRECTOR, PRECISE MORTGAGES
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Incentives do not always help the property market
4 October 2010
We aren’t in such bad shape compared with the US where tax credits for buyers only provided a short-term boost
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LAST WEEK’S WINNER
4 October 2010
“I told you before we got up here, we wouldn’t be able to see the Ryder Cup.”TERENCE MULRONEY
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Leader: A lifeline for B2L market
4 October 2010
In the buy-to-let market there’s been little to cheer about for the past three years. With the bulk of buy-to-let lenders pulling out of the sector once the credit crunch hit, mainly due to lack of funds, borrowers were left with a limited number to choose from.
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Lenders ditch brokers for simple application errors
4 October 2010
PAUL DAY, PUNISHMENTS ARE TOO HARSH
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Lenders urged to offer higher LTVs as Skipton withdraws 95% product
4 October 2010
Lenders are being called on to offer higher LTV products following the withdrawal of Skipton Building Society’s 95% direct deal last week.
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Marketwatch
4 October 2010
It seems Ed Miliband is looking forward to an industrial revolution but back in the real world Skipton pulled its 95% LTV deal and cut back on interest-only while TMW improved its buy-to-let range
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Media spotlight: Cognitive Surplus
4 October 2010
By Clay Shirky
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Miliband wrong to dismiss the worth of financial services
4 October 2010
Labour leader Ed Miliband’s speech last week, in which he commented that the UK was too dependent on the financial services sector, sounded like the speech of another silver-spooned rich boy.
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Mortgage seminars hit the road this month
4 October 2010
PMS and Sesame have teamed up to take their mortgage seminars on the road in October and November. The roadshows start on October 19 in Wetherby and finish on November 11 in Southampton.
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Need to get real on commercial values
4 October 2010
JASON WERTH, MANAGING DIRECTOR, SELLMYCOMMERCIALPROPERTY.CO.UK
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Offer a safety net to prospective buyers
4 October 2010
JAMES WATSON, SALES AND MARKETING DIRECTOR, PAYMENTSHIELD
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Paragon puts its return down to increasing investor confidence
4 October 2010
Paragon Mortgages says its return to buy-to-let lending is the result of increased confidence in the mort-gage market.
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Pink breached FSA rules and PTFS parent made a £3.3m loss last year
4 October 2010
DAVID COPLAND, OUTLOOK FOR 2010 IS BETTER
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Political debate on MMR is necessary
4 October 2010
BOB HUNT, CHIEF EXECUTIVE, PARADIGM MORTGAGE SERVICES
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Pop the champagne corks for Paragon's return to lending
4 October 2010
Paragon Mortgages starting to lend again was one of the best pieces of news to hit the headlines last week.
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Prepare clients for unexpected illness
4 October 2010
ED STUART-BROWN, HEAD OF PROTECTION, FRIENDS PROVIDENT
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Rental demand is up but buy-to-let funds get tighter
4 October 2010
Although rents are rising Lloyds group tightening criteria is not good news and will make things harder for landlords
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Self-regulation loses out to self-interest
4 October 2010
JOHN FAIRHURST, MANAGING DIRECTOR, PAYPLAN
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Sharp rise in complaints against mortgage firms in 2010
4 October 2010
ROBERT SINCLAIR, COMPLAINTS ARE NOT EXPLAINED
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Simon Jones quits broking for world of diving in Bali
4 October 2010
Simon Jones, director at Savills Private Finance, has quit the brokerage to train as a diving instructor in Indonesia.
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The mortgage Mole
4 October 2010
DIGGING THE DIRT IN THE MORTGAGE WORLD…
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THIS MONTH’S DECISION: HOLD
4 October 2010
Mortgage Strategy’s shadow Monetary Policy Committee votes once again to hold the base rate, disagreeing with the chairman who says a small rise would help funding
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Two brokers face FSA crackdown
4 October 2010
The Financial Services Authority has fined the director of a brokerage and cancelled the per-missions of another for failings including not being open and co-operative in their dealings with it.
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Unbiased app will help consumers source IFAs
4 October 2010
Unbiased.co.uk has launched an iPhone application to help consumers find IFAs.
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Valuation service offered to buyers must be improved
4 October 2010
Providers need to ensure that more focus is put on the service they provide at the start of the buying process
