Mortgage Strategy
9 May 2011
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One-fifth of mortgages came from Lloyds in Q1
9 May 2011
Lloyds Banking Group laid claim to 20% of the gross mortgage lending market in Q1 2011, with the Royal Bank of Scotland taking a 14% share, their accounts reveal.
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60 seconds with...Peter Griffiths
9 May 2011
CHAIRMAN, BUILDING SOCIETIES ASSOCIATION
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Another decline for house values
9 May 2011
The average house price fell by 0.2% in the month to April, according to Nationwide’s monthly house price index.
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Banks feel the heat as Lloyds sets aside £3.2bn for PPI compensation
9 May 2011
Banks are facing calls to set aside billions of pounds to compensate customers who have been mis-sold payment protection insurance after Lloyds Banking Group made a £3.2bn provision for such claims.
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Beware time-wasters when looking to sell
9 May 2011
DAVID HESKETH, GROUP M&A MANAGER, PERSPECTIVE FINANCIAL GROUP
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Boom in cash buyers squeezes first-timers
9 May 2011
IAIN MALLON, DIRECTOR OF PROTECTION MARKETING, FRIENDS PROVIDENT
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Brokers must join the debate on MMR
9 May 2011
MICHAEL COOGAN,DIRECTOR GENERAL, COUNCIL OF MORTGAGE LENDERS
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
9 May 2011
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Cheval considers legal action over valuations
9 May 2011
Cheval Bridging Finance is planning to take legal action against surveyors over alleged negligent valuations, its 2010 accounts reveal.
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Claims firms under fire over PPI
9 May 2011
Peter Griffiths, chairman of the Building Societies Association, has blasted claims management firms over payment protection insurance claims.
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EMF throws doubt on EU directive's claims
9 May 2011
The European Mortgage Federation has questioned the effectiveness of the European Commission’s mortgage directive.
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European regulation will creep in far too slowly to trouble us
9 May 2011
Last week was great for those keen to see lenders boosting LTVs.
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EU's mortgage directive misses cross-border point
9 May 2011
STAR LETTER
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Evolve and survive with regular audits
9 May 2011
PAUL NYE, BUSINESS DEVELOPMENT DIRECTOR, STONEBRIDGE GROUP
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Financial security is next big opportunity
9 May 2011
ALAN CLEARY, MANAGING DIRECTOR, PRECISE MORTGAGES
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First Direct is customers' favourite lender, says Which?
9 May 2011
First Direct has topped a customer satisfaction survey of mortgage lenders by Which? magazine.
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Fix compliance or face enforcement, regulator warns boards of mutuals
9 May 2011
The Financial Services Authority has threatened the boards of building societies with enforcement action if they do not improve their compliance.
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Forbearance being used to hide arrears, says FSA
9 May 2011
The Financial Services Authority has accused lenders of using unnecessary forbearance measures in a bid to hide the true condition of their mortgage books.
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FSA strikes off Solomon Lloyd over unpaid fees
9 May 2011
The Financial Services Authority has cancelled the permission of Birmingham-based mortgage brokerage Solomon Lloyd for failing to pay fees of £1,491.68.
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Giving insurance its place at the altar
9 May 2011
ROGER EDWARDS, PROPOSITION DIRECTOR, BRIGHT GREY & SCOTTISH PROVIDENT
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Good Mortgage Company finds buyer
9 May 2011
The Good Mortgage Company has been bought from administrators by The Buy To Let Business.
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High property prices are simply down to supply and demand
9 May 2011
In Andrew Montlake’s recent blog on Mortgage Strategy Online entitled ’No.thanks@hah.com Re: Lies’, he recounts how someone on the BBC website had criticised a comment he’d written on the housing market, damning him for having a “vested interest in keeping property prices high”.
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House prices and tough criteria limit 90% LTV audience
9 May 2011
Northern Rock providing its 90% LTV product via brokers last week must be down to the fact that it hasn’t had enough take-up through its branches so presumably it needed to open these products up to the broker networks.But the reality is that until house prices come down and lenders adopt a sensible approach to affordability and credit scoring, these products will apply to the few, rather than the many.Luke Atkinson
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LAST WEEK'S WINNER
9 May 2011
“It’s amazing that you can still be rewarded for 11 games without a win.”Danae Bird
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Leader: Give in on PPI to build trust
9 May 2011
At the Building Societies Association’s conference last week there was much talk about rebuilding trust with consumers. Whether mutuals are in the position to do this remains to be seen. With the best rates in the market only a click away on anyone’s mobile or computer, to rebuild that trust societies need competitive products to create a relationship with consumers in the first place.
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Lenders show no inclination to halt steady slide in mortgage approvals
9 May 2011
Lenders are not predicting an upturn in mortgage business in the coming months, the latest Trends In Lending report from the Bank of England reveals.
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London dominant as sales of £1m properties rocket
9 May 2011
The number of £1m-plus property sales was 54% higher in 2010 compared with 2009, research by Lloyds TSB shows.
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Marketwatch
9 May 2011
There are tempting deals around but many have a catch, like Coventry’s hefty arrangement fee and Nationwide’s demand for a savings account. And it’s perhaps time L&G deleted the self-cert tab on the club’s website
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Media Spotlight: What You Need To Know About Leadership
9 May 2011
By Jeff Grout and Liz Fisher
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MIGs would make it easier for lenders to enter high LTV area
9 May 2011
Regarding the 95% LTV deal that Nationwide is offering its account holders, I imagine the mutual is just dipping its toe in this market, since the offer is not yet available to brokers.
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Mutuals whet their lending appetite with host of high LTV mortgages
9 May 2011
Building Societies are showing an appetite to lend at higher LTVs by launching an array of low deposit deals last week.
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Nationwide's high return loans funded by cheap savings
9 May 2011
Nationwide last week revealed that it would offer 95% LTV deals to account holders but with this we have reverted almost to the early 1980s.
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New technology firms kept out by lenders unwilling to change systems
9 May 2011
Lenders have been accused of shutting out new technology firms trying to compete against Mortgage Brain and TrigoldCrystal because they prefer to stick with businesses they already have shares in.
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No contest
9 May 2011
One of the greatest casualties of the downturn has been competition, as lenders have consolidated or gone under. The market is now dominated by a few key players with smaller firms struggling to keep up
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Northern Rock has to underwrite high LTV loans sensibly
9 May 2011
Northern Rock offering 90% LTV products is all well and good and full marks to it for helping the taxpayers who bailed it out. But it’s vital that it doesn’t underwrite on a ’computer says no’ basis.Common sense lending is what is required taxpayers helped Northern Rock out in its hour of need, so now it needs to help them.A Kharkowa
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Not summer yet, but brighter days ahead
9 May 2011
IAN BALFOUR, CHIEF EXECUTIVE, SOLENT MORTGAGE SERVICES
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Options for private surveys get better
9 May 2011
RICHARD SEXTON, BUSINESS DEVELOPMENT DIRECTOR, E.SURV
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Professional advice was oddly absent amid lending spree
9 May 2011
The topic of house prices, as picked up in Andrew Montlake’s latest blog on Mortgage Strategy Online, is an interesting one.
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Save to borrow deal takes me back to my mortgage in 1980s
9 May 2011
Nationwide’s 95% LTV product for savers took me back to my own mortgage in the 1980s.
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SPF management buys a majority stake from parent
9 May 2011
The senior management team at Savills Private Finance completed a buyout of the brokerage from its parent Savills last week.
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Suggestion of write-offs raises eyebrows
9 May 2011
What’s going on in Ireland
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Swaps drop as base rate rise moves further away
9 May 2011
Swap rates have fallen dramatically in the last month as market expectations of an interest rate rise before the end of the year diminish.
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The Mortgage Mole
9 May 2011
NARKY PARKY The Building Societies Association has stirred controversy with the entertainment at its annual conference in recent years.
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We should not wait for EU to set the agenda
9 May 2011
The UK will not wait for Europe to set the agenda on mortgage regulation, says the Financial Services Authority.
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Week in NUMBERS
9 May 2011
£1.5m - The asking price for Macaulay Culkin’s house in the movie Home Alone, which went on sale last week in Chicago.
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You're not fooling us Santander demand is plainly still there
9 May 2011
I was interested to read Santander’s response to the news last week that it had carried out £4.2bn in gross lending in Q1 2011 compared to £5.7bn in Q1 2010.Any lender that states lower demand has decreased lending volumes compared with 2010 needs to look closely at itself.
