Mortgage Strategy
7 June 2010
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33% Of renters say buying is an impossible dream
7 June 2010
A survey of 1,326 renters by flat and houseshare website Spareroom. co.uk shows a third - 33% - of those renting don’t believe they will ever be able to afford to buy property.
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60 seconds with...Greg Woodhams
7 June 2010
Mortgage services sales director, Sequence
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90% Fewer deals on comparison site than in 2007
7 June 2010
There are 90% fewer mortgage products registered on Moneysuper-market.com than in 2007, despite the number breaking through the 3,000 barrier last week for the first time since July 2009.
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Alternative model of advice may be better for everyone
7 June 2010
The present system provides lenders with no incentive to promote the benefits of independent advice to clients
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AMPD brokers Mortgage Options packager deal
7 June 2010
The Association of Mortgage Packagers and Distributors has brokered a deal that will see Melton Intermediary Services, a subsidiary of Melton Mowbray Building Society, be the exclusive packager for Mortgage Options.
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ASA takes action as Spicerhaart uses data incorrectly
7 June 2010
The Advertising Standards Authority has rapped the Spicerhaart Group, trading as Haart Estate Agent, for inappropriately using personal information for marketing purposes.
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Banned for breaching agreement
7 June 2010
The Financial Services Authority has banned Swindon-based sole trader Joseph Masi, trading as Select Mortgage Services, for breaching a settlement agreement he made with the regulator and providing false and misleading information.
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Be virtually better at selling yourself
7 June 2010
DEAN JONES, HEAD, PAALEADS.COM
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Beware of internal and external risks
7 June 2010
MARK BLACKWELL, MANAGING DIRECTOR, XIT2
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Brokers hail Accord's 10-year fixed rate as a sensible option for clients
7 June 2010
Brokers have welcomed Accord Mortgages’ new 10-year fixed rate.
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Brokers rule equity release distribution
7 June 2010
JON KING, MANAGING DIRECTOR, HODGE LIFETIME
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Brown sparked B2L boom, says Lord Lawson
7 June 2010
NIGEL LAWSON: CGT INCREASE IS THE WAY TO
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
7 June 2010
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CML could cut its lending estimate for 2010 if business remains slow
7 June 2010
The Council of Mortgage Lenders has warned that it may lower its mortgage lending forecast in the summer if lending does not pick up.The CML revealed its intentions after seeing the latest set of lending figures from the Bank of England.
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Embrace RDR and please Joe Public
7 June 2010
ALAN DRING, MANAGING DIRECTOR, THE MAD APPROACH
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Ensure women get the cover they need
7 June 2010
IAIN MALLON, DIRECTOR OF PROTECTION MARKETING, AXA
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Equity release is ready to step in when pensions fall
7 June 2010
Changes to public sector pensions and long-term care could be big opportunities for the equity release sector
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Fears for client refunds as claims company faces uncertain future
7 June 2010
Mortgage brokers fear they could lose out on refunds for their clients following the news that claims firm Credit Issues has entered into a company voluntary arrangement.
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FSA puts advice at risk when it hikes intermediary fees
7 June 2010
I was not surprised to read that the Financial Services Authority is increasing its fees for mortgage brokers.
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FSA tells Chesham to change contract terms
7 June 2010
The Financial Services Authority has ordered Chesham Building Society to change some of the terms in its mortgage contract after deeming them unfair.
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High LTV deals on new-builds would boost the market
7 June 2010
I was interested to see Nationwide’s latest house price index last week showing that values rose by 0.5% in May, making them just 9.5% lower than their peak in 2007.Lenders must consider lending above 80% LTV on new-build houses and 75% LTV on new-build flats. Until then the building industry and the housing market will continue to see low levels of activityNAME AND ADDRESS SUPPLIED
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Hooray, we will not score this summer
7 June 2010
CHARLES MORLEY, HEAD OF SALES AND PRODUCT DEVELOPMENT, KENSINGTON
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Hoping for stability on housing policy
7 June 2010
JOHN MURRAY, CONSULTING EDITOR, LENDING STRATEGY
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Hot air spouted on green issues is a waste of energy
7 June 2010
Energy efficiency ratings and environmental impact assessments are of no interest to average home buyers
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House prices just 9.5% below their 2007 peak
7 June 2010
House prices rose 0.5% in May, making them just 9.5% lower than their peak in 2007, latest figures from Nationwide show. Annual house price inflation has fallen from 10.5% to 9.8% and prices are up 12.2% since their February 2009 trough.
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Interest-only deals could be the next mis-selling scandal
7 June 2010
I remember when interest-only mortgages were surcharged at between 0.5% and 1% because they were less profitable for lenders.
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IT systems should help drive up sales
7 June 2010
SOPHIE HALL, DIRECTOR OF DISTRIBUTION, INTELLIFLO
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L&G club unveils tracker deal for remortgagers
7 June 2010
Legal & General Mortgage Club has launched a two-year tracker for remortgagers, provided by NatWest Intermediary Solutions. The rate is 2.69% with a £999 arrangement fee and is available up to 70% LTV.
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LAST WEEK’S WINNER
7 June 2010
“After holding for ages on the mortgage helpline Ben and his team thought it would be quicker to cycle to head office with their application.” MICK FARR
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Leader: Kill or cure decisions loom
7 June 2010
In two weeks’ time we’ve got the government’s emergency Budget to look forward to. The big question for the housing market is what chancellor George Osborne says on the subject of Capital Gains Tax. Many professionals will be hoping he says precious little about it amid rumours of plans to hike CGT from its current 18% mark to either 40% or 50%.
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Lender's high-rise rule makes things clear for advisers
7 June 2010
I was interested to read the article by Simon White, director of London’s Chartered Surveyors, headlined ’Rooms at the top can be a good bet for canny lenders’ (Mortgage Strategy June 31), in which he says Nationwide Building Society’s decision not to lend on council flats more than five storeys high makes no sense.
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Lenders too sharp to sideline brokers
7 June 2010
BOB HUNT, CHIEF EXECUTIVE, PARADIGM MORTGAGE SERVICES
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Lending by societies sees 9% fall in April
7 June 2010
Mutuals approved £1.52bn worth of loans in April compared with £1.67bn in March, a 9% reduction, figures from the Building Societies Association show. Gross lending was also down at £1.39bn in April, a 13% fall on March.
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Letters to the editor
7 June 2010
STAR LETTER
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Marketwatch
7 June 2010
It’s good to see more properties coming onto the market after the scrapping of Home Information Packs but scary that the CML is thinking of revising its forecast for 2010 lending downwards
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Media Spotlight: Successful Property Letting
7 June 2010
By David Lawrenson
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Networks urged to let ARs sell direct deals
7 June 2010
There have been calls for networks to change their compliance rules to allow appointed representatives to advise on direct deals more easily.At present, some networks have strict compliance procedures for ARs who want to go off-panel and offer direct deals.
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Northern Rock cuts rates on Everyday products
7 June 2010
Northern Rock has reduced some rates in its Everyday range of residential mortgages. Everyday two-year fixed rates for customers with a 30% deposit start from 3.19% and 3.64% for those with a 25% deposit. Both deals have fees of £995 and are available for purchase and remortgage.
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Offsets come of age in era of low rates
7 June 2010
DAVID FINLAY, INTERMEDIARY BUSINESS DIRECTOR, BARCLAYS
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Outlook may not be that grim for first-time buyers
7 June 2010
A refreshed political landscape along with eurozone uncertainty means first-timers should not despair
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Personal debt in UK now exceeds national output
7 June 2010
Total personal debt at the end of April stood at £1.46trillion, says Credit Action. The 12-month growth was 0.8% and individuals now owe more than the country produces in a year.
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Platform launches revamped website
7 June 2010
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Policy coverage is more essential than price of GI
7 June 2010
Quality of coverage ranks higher than price among brokers when recommending insurance policies to clients, according to general insurance provider Assurant Intermediary.
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Rely on your underwriters, network urges lenders
7 June 2010
Legal & General Network is calling on lenders to restrict their use of credit scores and rely more on underwriters.
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Restraint required when raising CGT
7 June 2010
ALAN CLEARY, MANAGING DIRECTOR, EXACT AND PRECISE MORTGAGES
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Savills to distribute Tiuta's Bridge to Let product
7 June 2010
ROB JUPP: INNOVATIVE DEAL FOR INVESTORS
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Site offers brokers fees for referring commercial cases
7 June 2010
MICHAEL CLAPPER: WE WILL BUY IN ALL LOCATIONS
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Spare a thought for those who trained as home inspectors
7 June 2010
I was interested to read the letter last week from the Home Information Pack inspector with a geography degree hitting back at jibes against inspectors by some commentators on Mortgage Strategy Online.
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Stay on the safe side with your providers
7 June 2010
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The mortgage mole
7 June 2010
DIGGING THE DIRT IN THE MORTGAGE WORLD…
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THIS MONTH’S DECISION: HOLD
7 June 2010
Turbulence in the eurozone along with a sharp rise in inflation leads Mortgage Strategy’s shadow Monetary Policy Committee to vote for a base rate hold again this mont
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Tiuta sees sixfold jump in regulated business
7 June 2010
Tiuta says almost a third of the business it now receives is regulated - a sixfold hike from the start of the year.
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Tories pledged to axe the regulator, then let us down
7 June 2010
The Conservatives gave a pledge before the election to get rid of the FSA but have not done anything about it since they got involved in a coalition agreement with the Liberal Democrats.Most brokers voted Tory because of this pledge and I’m sure that, like me, they now feel badly let down.
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TrigoldCrystal unveils iPhone app
7 June 2010
TrigoldCrystal has launched a mortgage sourcing iPhone appli-cation which allows brokers to research the mortgage market from their phones.
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Underwriting can sort interest-only wheat from chaff
7 June 2010
Interest-only should be allowed subject to the deal making sense to the lender.
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We will not add another broker exam, says FSA
7 June 2010
FINANCIAL SERVICES AUTHORITY TESTS MAY BE DIFFERENT IN FUTURE
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Where there's a will...
7 June 2010
Offering a will writing service is seen by some as a natural extension of a broker’s role, whether you do it yourself or refer clients to specialists
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Woolwich cuts rate on its offset deal to 3.09%
7 June 2010
To mark the 10th anniversary of offsetting Woolwich is cutting the rate on its offset deal by 0.4% to 3.09%.
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your shout
7 June 2010
The best of the comments from Mortgage Strategy online
