Mortgage Strategy
6 September 2010
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£99 mortgage fee back on offer after Rock glitch
6 September 2010
Northern Rock last week reintroduced its £99 mortgage application fee after a technical problem caused a delay.
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60 Seconds with...Simon Davies
6 September 2010
SIMON DAVIES, TECHNICAL DIRECTOR, VALUNATION
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A touch of deja on new rules for flats in the capital
6 September 2010
Let’s hope regulations being introduced for London flats do not suffer the same fate as previous incarnations
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Affordability letter was based on banks’ spin not hard facts
6 September 2010
I was puzzled by Keith Butler’s letter headlined ’Unless lenders start to act prudently funds will continue to be limited and expensive’ on lenders’ affordability policies (Mortgage Strategy August 30).
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Arrears figures are not such good news
6 September 2010
ALISON BEECH BUSINESS RELATIONSHIP DIRECTOR SPICERHAART
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August sees a rise in residential valuations
6 September 2010
Connells Survey and Valuation says residential property valuations were 6% higher in August than the same time last year.
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Banks use loyalty rates to lure clients to their mortgages
6 September 2010
The trend of banks offering existing customers discounted mortgages is growing but they still need to shop around
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Behavioural signs of fraud are missed
6 September 2010
A US report has warned that some of the biggest indicators of people committing fraud are not identified through a traditional audit or other traditional controls.
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Biased opinions will only add fuel to the credit scoring fire
6 September 2010
I was disappointed to see that the Star Letter in last week’s Mortgage Strategy was so biased and based on little evidence.
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Blair warns against heavy regulation
6 September 2010
Former Prime Minister Tony Blair last week warned that too heavy regulation of the financial sector risks flattening it.
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Brokers taken to task by FSA over false applications
6 September 2010
The Financial Services Authority last week took action against two advisers for permitting false and misleading mortgage applications to be made to lenders.
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
6 September 2010
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Check the potential of landlord business
6 September 2010
PAUL SHEARMAN MORTGAGE, GI AND PROPOSITION DIRECTOR OPENWORK
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Cloud computing is easy hacker target
6 September 2010
MARK BLACKWELL, MANAGING DIRECTOR, XIT2
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CML urges EU to tread carefully on UK regulation
6 September 2010
The Council of Mortgage Lenders has warned the European Union not to make UK mortgage funding and availability worse with its new regulatory bodies.
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EPCs could pave the way to green loans
6 September 2010
JAMES SHERWOOD-ROGERS, MANAGING DIRECTOR, QUEST
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Exclusive key account deal unveiled by Abbey
6 September 2010
Abbey for Intermediaries has cut rates on a selection of 80% LTV products and launched a key account exclusive home purchase deal.
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Financial education should start young
6 September 2010
ED STUART BROWN, HEAD OF PROTECTION, FRIENDS PROVIDENT
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Fresh products and MIGs will help get the market moving
6 September 2010
The news last week that August saw the biggest increase in mortgage products over the past 20 months, with over 1,500 deals available wasgreat news and goes some way to help the market recover.
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FSA should punish all parties involved in fraudulent deals
6 September 2010
Last week the FSA revealed that it had taken action against two brokerages for allowing false and misleading mortgage applications to be made to lenders.
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Gay's appointment as AMI boss questioned
6 September 2010
STEPHEN GAY NO MORTGAGE BACKGROUND
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Guilty party must pay for shortfalls, says FOS
6 September 2010
The Financial Ombudsman Service has reiterated its policy that when a lender is to blame for borrowers underpaying their mortgage, the shortfall should be written off.
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Healthier market will push lenders to rethink automated credit scoring
6 September 2010
Industry experts predict that when the market gets back on its feet and competition increases major len-ders will be forced to change their automated credit scoring systems.
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Help is at hand for income collectors
6 September 2010
JASON BERRY, SALES AND MARKETING DIRECTOR, SAFE&SECURE
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Help landlord clients grow B2L portfolios
6 September 2010
CHARLES MORLEY HEAD OF SALES AND PRODUCT DEVELOPMENT KENSINGTON
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If you want to offer an opinion have guts to reveal your name
6 September 2010
The Letters pages are one of the best bits of Mortgage Strategy, but I have noticed that more and more letter writers are choosing not tohave their names printed.
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Insurance broker used customers' cash to buy cars
6 September 2010
The Financial Services Authority has imposed a lifetime ban on insurance broker David Marriot for misusing client money.
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Insurance seminars to be held for brokers and IFAs
6 September 2010
Blu Debt Management has teamed up with Paymentshield to stage 18 joint seminars for mortgage advisers and IFAs across the country.
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Interest rates have
6 September 2010
GEMMA HARLE, MANAGING DIRECTOR, TENETLIME
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Interest-only borrowers with no repayment plan went up last year
6 September 2010
Data from the Financial Services Authority last week revealed that the number of interest-only mort-gages taken out without a repay-ment vehicle went up last year.
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L&G club advisers get entrance to Cambridge
6 September 2010
Directly authorised brokers and appointed representatives of Legal & General Mortgage Club now have access to Cambridge Building Society’s products.
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Landlord confidence falters due to fears over tax and benefits changes
6 September 2010
The National Landlords Associa-tion says landlord confidence has dipped for the first time in two years due to uncertainties over tax changes and housing benefits.
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LAST WEEK'S WINNER
6 September 2010
“The recurring dream of turning up to work without trousers on finally came true.”ALEX JONESCMG ADVISERS
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Leader: Dodging high LTV bullets
6 September 2010
You can’t keep a bad idea down and that certainly seems to be the case with high LTV caps. During the past year caps on LTVs have repeatedly been the subject of talks by the Financial Services Authority, the government and now the Bank of England, with deputy governor Charles Bean’s recent comments about their use to the Federal Reserve.
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Lenders' systems are prone to giving the wrong results
6 September 2010
Some credit scoring systems of lenders are seriously flawed.
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Lifetime variable deal added to TMW range
6 September 2010
The Mortgage Works is offering a lifetime variable product in its buy-to-let range. There is also an early repayment charge-free tracker.
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Marketwatch
6 September 2010
The silly season is in full swing with talk of lenders scrapping proc fees, but the real news is that banks are offering special rates for existing customers and Northern Rock has slashed its application fee
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Media spotlight: Linchpin
6 September 2010
By Seth Godin
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MMR claimed to be a ploy to remodel housing sector
6 September 2010
COLIN SNOWDON MARKET IS BEING RESHAPED BY MMR
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Moody's gets off with just a caution for glitch
6 September 2010
A fraud investigation into Moody’s by the US Securities and Exchange Commission has ended with just a caution for the ratings agency.
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New deals jumped by 25% in August
6 September 2010
August saw the biggest rise in mort-gage products for over 20 months, with more than 1,500 new deals.
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NHF forecast is only scaremongering
6 September 2010
The National Housing Federation’s prediction that negative equity will last for years for thousands of home owners has been dismissed as scaremongering.
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Savings drought in July will not stop societies lending, says BSA
6 September 2010
The Building Societies Association says lending in the mutual sector will be unaffected by the whopping £1.3bn drop in savings seen in July.
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Separate scorecard facts from fiction
6 September 2010
ALAN CLEARY, MANAGING DIRECTOR, PRECISE MORTGAGES
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The Brits are leaving, the Brits are leaving!
6 September 2010
Paul Muolo is executive editor of National Mortgage News and a contributing editor to MS
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The financial strain of later retirement
6 September 2010
IAIN MALLON DIRECTOR OF PROTECTION MARKETING AT AXA
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The lack of funding means only perfect cases are approved
6 September 2010
I was interested to read the article last week in which Aldermore argued that the housing market is being held back due to lenders’ reliance on automated systems, according to its research.
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The Mortgage Mole
6 September 2010
DIGGING THE DIRT IN THE MORTGAGE WORLD…
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THIS MONTH’S DECISION: HOLD
6 September 2010
Mortgage Strategy’s shadow Monetary Policy Committee chairman thinks it’s time for a modest rate rise to get back on the road to normality, but members still believe the base rate should stay at its current level
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Time is ripe to plug the protection gap
6 September 2010
JAMES WATSON, SALES AND MARKETING DIRECTOR, PAYMENTSHIELD
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Under fire
6 September 2010
The industry has been dodging LTV caps for a while, but the MPC’s Charles Bean has loaded the gun again, so one has to question for how long it can remain safe from this bullet
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We need a broker council to help fight our corner
6 September 2010
STAR LETTER
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Week in NUMBERS
6 September 2010
3,500 - the number of jobs the Royal Bank of Scotland is cutting. The bank says the decision is related to the sale of 318 branches toSantander for £350m, expected to be completed by December 2011.
