Mortgage Strategy
5 December 2011
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1% Gilt rise would sting borrowers
5 December 2011
A 1% rise in gilts could lead to households having to repay an extra £12bn in mortgage interest.
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20% Increase in year-on-year lending puts societies streets ahead of banks
5 December 2011
Building societies’ gross mortgage lending grew by 20% year-on-year in October, compared with an increase of just 4% from high street banks.
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60 seconds with...Sharon Bowles
5 December 2011
Lib Dem MEP and chair of the economic and monetary affairs committee
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8% Of mortgages under forbearance
5 December 2011
Up to 8% of all mortgages are subject to some kind of forbearance measures, according to the Financial Services Authority.
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Brokers have to grow market share in 2012
5 December 2011
Last week I was out and about attending our roadshows, driving up and down the country in a 1966 Routemaster bus.
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Caption Competition
5 December 2011
Precise Mortgages’ Alan Cleary charges his Blackberry Playbook through the diesel-powered Routemaster bus the firm is using for its roadshows
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Caption Competition: Last Week's Winner
5 December 2011
“If the mortgage market gets worse at least we can audition for the 118 118 adverts.”
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Chancellor fails to cheer up buyers on Stamp Duty
5 December 2011
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Enlighten clients on flood cover deadline
5 December 2011
I wear several professional hats and as well as my roles at Landmark and Quest I am also chair of the Know Your Flood Risk campaign.
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European directive vote delayed until next year
5 December 2011
A key stage in voting through the European Commission’s mortgage directive has been delayed until next year against a backdrop of fears the regulation itself could be dropped as the eurozone crisis rages on.
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Expo shows there is still life in the old dog
5 December 2011
Events like the Mortgage Business Expo can give you an idea of where the market is at present.
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FirstBuy ignorance is preventing FTBs from buying homes
5 December 2011
It has been well documented that the biggest challenge facing first-time buyers is raising a big enough deposit.
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Government's cajoling may be in vain
5 December 2011
The big question is what to make of the much-vaunted housing strategy announced late last month. Is it the ultimate cure for the sector or a meaningless mix of headline schemes and old policies?
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Keeping client data safe is a complex job
5 December 2011
Data security is fast becoming an online battlefield. Last month foreign secretary William Hague talked about the importance of protecting the UK against a cyber attack, warning that it was only a matter of time before an enemy tried to breach Britain’s cyber defences.
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Lax supervision exposed network's ARs to crime
5 December 2011
A lack of supervision resulted in a number of appointed representatives of Julian Harris Mortgages facilitating financial crime, says the Financial Services Authority.
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Marketwatch
5 December 2011
Swaps fell significantly as a result of the dire economic situation in both the UK and Europe last week.
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Metro Bank knocking on intermediary doors
5 December 2011
Metro Bank is trying to drum up more mortgage business by using brokers but without paying proc fees.
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MIG scheme liability capped at £1bn
5 December 2011
The government’s liability for its mortgage indemnity guarantee scheme will be capped at £1bn, last week’s autumn statement revealed.
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Mortgage Brain buys MortgageStream
5 December 2011
Mortgage Brain has agreed the terms to acquire point-of-sale and case management system provider MortgageStream.
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Mr Right
5 December 2011
A few eyebrows were raised when Paul Smee was made director-general of the Council of Mortgage Lenders earlier this year, but he has quickly won enthusiastic support from members and the industry
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MS Leader: The dark shadow of Europe
5 December 2011
At Mortgage Strategy’s Mortgage Masters conference last week, Europe and the dire economic backdrop permeated most of the discussions on the market.
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Obama's lifeline is better than nothing
5 December 2011
When news broke a few weeks back that the White House was spearheading an improved refinancing plan for underwater borrowers, the telephone lines at many mortgage firms were jammed with incoming traffic.
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One size fits all won't do for underwriting
5 December 2011
On October 26 2011 the Financial Stability Board issued a paper for public consultation, Principles for Sound Residential Mortgage Underwriting Practices.
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PPI mis-selling brush must not tar products
5 December 2011
In addition to the Competition Commission’s changes to the selling of payment protection insurance products and the provision of clearer pricing information, the Financial Services Authority and the Office of Fair Trading have also got involved.
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Pricing issues see RMBS from Kensington pulled
5 December 2011
Investec’s decision to withdraw its £204m Kensington securitisation has raised fears about the ability of specialist lenders to raise funds in the wholesale markets.
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Property sales lowest for 40 years
5 December 2011
This year is likely to register the lowest number of property sales for 40 years, according to Hometrack.
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Protection need not wait for the mortgage
5 December 2011
Buying a first home is a major commitment for any couple or individual, and traditionally it has acted as the trigger for people to buy protection insurance.
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Regulator aims to nip Europe's potential AR mis-step in the bud
5 December 2011
The Financial Services Authority says it is working to ensure that the European Commission does not inadvertently prevent the appointed representative model from working in the UK as a result of the mortgage directive.
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Shadow MPC
5 December 2011
Mortgage Strategy’s shadow Monetary Policy Committee responds to downgraded growth predictions, euro jitters and busted fiscal forecasts with a definite voteto hold
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Some competitions are not all that they appear to be at first
5 December 2011
I love a good competition. You know the sort - when you’re off on your holidays at Gatwick airport and you’re offered a ticket for £25 for the chance to win a Porsche. I always have a go.
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Stamp Duty concession did help, says industry
5 December 2011
The industry has reacted with disappointment to the news that the Stamp Duty holiday for first-time buyers will not be extended.
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The Mortgage Mole
5 December 2011
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Unlimited adverse 75% deal from new unnamed lender
5 December 2011
A new secured loans lender has come to market offering an unlimited adverse deal up to 75% LTV.
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Week in numbers
5 December 2011
2million - The estimated number of public sector workers who went on strike over reforms to pensions last Wednesday.
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Work together to get more cases through
5 December 2011
Brokers seem to be grappling with two big issues at the moment. One is getting clients in the first place, but placing the business is the bigger problem.
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Your Money And How They Spend It
5 December 2011
Former chancellor Alistair Darling reckons tax is like sex - everyone’s doing it but nobody wants to talk about it.
