Mortgage Strategy
7 November 2011
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60 seconds with...Eric Stoclet
7 November 2011
Eric Stoclet, Chief Executive, Crown Mortgage Management
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B2L product rise is a good omen for sector
7 November 2011
Evidence of improvement in the number of buy-to-let products available came from recent research by Defaqto, which revealed a 104% increase in availability over the past three years.
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Barclays raises its B2L profile with 75% LTV
7 November 2011
Barclays has kick-started its drive to become a major player in the buy-to-let sector by increasing its maximum LTV from 60% to 75%.
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Barclays says it's on track for 2013 goals as pre-tax profits hit £5.07bn
7 November 2011
Barclays reported a pre-tax profit of £5.07bn for the first nine months of 2011, up 19% on the £4.27bn profit reported for the same period in 2010.
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BoI clients moving to TMW face SVR shock
7 November 2011
The 14,000 mortgage customers transferring from Bank of Ireland to The Mortgage Works as part of a loan book sell-off are facing an almost 2% increase in their SVR.
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Brokers aid Hanley's 59% gross lending rise
7 November 2011
Hanley Economic Building Society has reported a 59% increase in gross mortgage lending between 2010 and 2011 after expanding its intermediary proposition.
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Brokers must fight direct challenge to B2L cover business
7 November 2011
Brokers are major players in the buy-to-let insurance sector but there is now a challenge to their share of business from the direct market.
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Caption Competition
7 November 2011
Countrywide’s Nigel Stockton prepares to run the New York marathon which took place on November 6
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Caption Competition: Last Week's Winner
7 November 2011
“If it’s a wig love, I hope it’s Safe & Secure.”
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Don't blame us for retirement lending policies, says Nicoll
7 November 2011
The Financial Services Authority has claimed it is not to blame for lenders’ restrictions on mortgages beyond retirement age.
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European committee echoes CML's views
7 November 2011
As the largest mortgage market in Europe, the UK is taking a keen interest in the progress of the draft directive on credit agreements for residential property.
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Failed TrigoldCrystal takeover cost Mortgage Brain more than £400,000
9 Nov 2011
Mortgage Brain lost £418,000 as a result of the Office of Fair Trading terminating its merger plans with TrigoldCrystal.
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FSA calls for European directive to widen scope on lender advice
7 November 2011
Mortgage lenders should still be able to say they offer advice even if they do not compare products from across the whole market, says the Financial Services Authority.
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FSA steps in to prevent risky PPI being reborn
7 November 2011
The Financial Services Authority has staged its first product design intervention, warning that firms are creating versions of payment protection insurance that pose similar risks to old products.
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GE moves all portfolios to Phoebus
7 November 2011
GE Money Home Lending, which already has its igroup portfolio on the Phoebus Software system, has moved its two remaining portfolio platforms to Phoebus.The process involved migrating some 200,000 live accounts representing over £1bn worth of assets and 800,000 archived accounts.Paul Hunt, managing director of Phoebus, says “GE’s maintenance costs will fall as it will be running one new system rather than two old ones.”
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Good service and low prices are compatible
7 November 2011
Without wanting to lower the tone, I was recently reminded of the phrase - opinions are like backsides, everyone’s got one.
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Great By Choice
7 November 2011
Great By Choice is the latest book by Jim Collins, author of the classic corporate self-help book Good To Great.
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High LTV shackles are slowly loosening
7 November 2011
LTV - three letters that have proved to be a huge barrier for borrowers. The truth is that lenders haven’t done enough to help high LTV borrowers during the past few years but for the most part they haven’t been able to.
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Increase in product numbers throws up interesting trends
7 November 2011
It’s just over four years since the number of mortgage products reached an all-time high of 35,664.
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Increasing activity gives hope for 2012
7 November 2011
There were quite a few positive stories in last week’s Mortgage Strategy and while I believe we are in for a tough 2012, there might be a twinkle of light at the end of the tunnel.
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Job losses on the cards after MAS reviews services
7 November 2011
The Money Advice Service has put up to half of its staff into consultation after a review of its products, services and delivery channels.
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Join the overseas property bandwagon
7 November 2011
With Kirstie Allsopp and Phil Spencer’s new and second home finding television series Relocation, Relocation being consigned to the shelf, you could be forgiven for thinking the market for overseas property has dwindled to nothing in the current economic environment.
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Market will become more complex after FSA disbands
7 November 2011
The post-Financial Services Authority mortgage market is going to be more complex under the dual control of the Prudential Regulation Authority and the Financial Conduct Authority, says the Council of Mortgage Lenders.
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Marketwatch
7 November 2011
Swaps had a mixed week, with two-year swaps increasing and five-year swaps falling. Things are incredibly volatile, with large daily movements up and down.
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MMR will put interest-only back on right footing, says regulator
7 November 2011
The Mortgage Market Review will restore interest-only to its rightful purpose, according to the regulator.
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MS Leader: Keep hands off B2L sector
7 November 2011
It was a surprise last week to hear the Financial Services Authority saying at the Council of Mortgage Lenders conference that it saw benefit in regulating buy-to-let alongside the residential market.
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Nationwide new-build move unlikely to push up valuations, says industry
7 November 2011
Industry experts have welcomed Nationwide’s decision to allow for a new-build premium to be included in valuations, but warn it is unlikely to provide the sector with the shot in the arm it needs.
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Onus is on owners to prove they are not evading tax on homes abroad
7 November 2011
Owners of property overseas could be put to great expense to prove they are not tax cheats under the government’s drive to target foreign property owners, an accountancy firm has warned.
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RBS sees gross lending share sink
7 November 2011
The Royal Bank of Scotland’s share of the mortgage market has almost halved in the past year.
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Regional home truths
7 November 2011
The housing markets in Scotland, Wales and Northern Ireland are as subdued as in England, but initiatives are afoot to boost sales, particularly among first-time buyers
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Regulator puts its case forward for regulation of B2L
7 November 2011
Regulating the buy-to-let sector alongside the residential market would be beneficial, the Financial Services Authority has claimed.
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Regulator's focus on lenders will not fade
7 November 2011
On October 5 the Financial Services Authority published its final guidance on forbearance and impairment provisions following consultation and a review of lenders’ arrears processes.
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Report reveals how illness hits finances
7 November 2011
Research by Macmillan Cancer Support revealed that cancer patients are being hit financially by increasing costs and lost income as a result of their illness.
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RMBS market throws open door to specialists
7 November 2011
The securitisation market has been opened up to specialist lenders for the first time since the financial crisis started following a flurry of issuances last week.
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Shadow MPC
8 Nov 2011
Mortgage Strategy’s shadow Monetary Policy Committee say turmoil in the eurozone, and Greece in particular, means the UK is not out of the woods yet so voted unanimously to hold the base rate
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Stop the autumn fall of protection sales
7 November 2011
After a great summer of deals autumn has arrived and business has ground to a halt.
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The Mortgage Mole
7 November 2011
Painful case Spare a thought for James Prosser, show director of the upcoming Mortgage Business Expo on November 16 and 17, who was left seeing stars after a suitcase fell on his head while on a recent train journey.
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Underhand tactics by banks will not lure clients away from the brokers they trust
7 November 2011
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Up to 10 firms in queue to clear lengthy FSA process
7 November 2011
Up to 10 would-be mortgage lenders are waiting to receive their Financial Services Authority authorisation, Mortgage Strategy can reveal.
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Week in numbers
7 November 2011
0.25% - The interest rate cut by the European Central Bank last week, reducing its main policy rate from 1.5% to 1.25%.
