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DROs: Is a second wave of serious debtors forming offshore?
The insolvency figures from the fourth quarter of last year came out this morning and it was encouraging to see that personal bankruptcies dropped by 28%.
Uncertainty leaves economy in jeopardy
The outlook for the mortgage market has deteriorated in recent months as the impact of the slower economic recovery and upheavals in Europe are taken fully into account. But this revision in expectations has been pretty modest so far compared to previous shifts in the market.
Transfer of second charges to FSA is a long time coming
The Mortgage Market Review has confirmed the regulation of secured loans will move from the Office of Fair Trading to the Financial Services Authority/ Financial Conduct Authority no earlier than 2014, once a decision has been reached on the transfer of consumer credit regulation as a whole.
A walk through the pros and cons of quantitative easing
Apart from reducing the base rate to 0.5% - the lowest level since the Bank of England was established in 1694 - governor Mervyn King has introduced a quantitative easing policy worth up to £275bn.
Soft skills necessary for successful selling
People like me have been talking about the need to increase protection sales for years.
We need to talk about lenders deleveraging
Looking at gross lending predictions from the Council of Mortgage Lenders and Intermediary Mortgage Lenders Association, it is clear they are not expecting this year to be too different to last.
Taking responsibility to prevent a disaster
The reason none of us likes to think about the worst case scenario is, I believe, because we all like to think we’re invincible.
Helping clients earn extra the right way
The Office for National Statistics has stated that the number of unemployed in the UK has risen to 2.68 million - the highest number of jobless people since 1994.
Amendment vital to welfare reform bill
After publication of the Welfare Reform Bill last year, many expressed concern about its plan to pay housing benefit direct to tenants instead of landlords.
Marketwatch
Last week it was no surprise to find ourselves in the shadow of gross domestic product figures showing the economy shrank by 0.2% in the last quarter, and another Greek issue debacle.
Clients should insure family before phones
New research shows Britons are more likely to insure their mobile phones than to take out life insurance to protect their families.
Broker roadshows on MMR will be handy
Change is something advisers have had to get used to in recent years. From the introduction of regulation in 2001 to the devastation caused by the credit crunch, advisers have had to learn to adapt to survive.
Restricting panels may be good thing
There has been a lot of talk, mostly negative, about HSBC restricting its conveyancing panel to 42 firms.
It takes two to tango
Bad habits of lenders are driving intermediaries to distraction, wrote Mortgage Strategy’s Samuel Dale last week in a list of things that really tick off brokers.
Virgin Bank deserves buzz about its launch
Not many will have missed the launch of Virgin Money Bank - an impressive, co-ordinated media campaign that had the confidence not to revolve solely around the charismatic bearded one - Richard Branson.
MMR puts focus on loans for the elderly
The latest Mortgage Market Review has prompted renewed interest in niche areas, including mortgages in retirement, which will have an impact on equity release.
Price rise is on the cards for this year
Everybody will be busy making predictions this month and hopefully there will be more optimism than pessimism.
Caring for clients can bring great rewards
The value of your advice should never be underestimated. Brokers can provide clients with the right products to protect them from events that could devastate them or their families financially - something few industries can do.
B2L remains under threat from Europe
The latest Mortgage Market Review paper struck a good balance between consumer protection and choice.
Networks are facing struggle to survive
Before the credit crunch it was fair to say a number of mortgage networks took their eye off the bigger picture as they focussed solely on swelling their appointed representative ranks.
EU market enters unchartered waters
Welcome to the first European Mortgage Federation monthly column which will provide you with an update on the latest happenings in the European mortgage markets from the heart of the European Union.
How MMR is already affecting businesses
Part of the interesting thing about the publication of the latest Mortgage Market Review proposals is seeing how the different parties affected have reacted, not least the lenders.
Review will get you off on the right foot
If you’re anything like me, you were inundated with socks at Christmas. Rather than just add them to an already overflowing drawer, it presented an opportunity to get rid of some of my more threadbare footwear and start afresh.
Marketwatch
Swaps continued on their slight downward trajectory last week, with LIBOR again holding firm.
Loss of just 249 ARs shows broker tenacity
My heartfelt congratulations to everyone who survived 2011, which was a bit brutal, although maybe not quite as traumatic as 2010.
The five issues keeping US lenders awake
It’s a new year, one full of anxiety for US mortgage lenders. Then again, this year’s worry list may not look so dire. Residential home values appear to have stabilised, although certain hard-hit markets like Las Vegas and Florida still have a way to go before a true floor is declared. Below, I list five key issues on US lending executives’ minds.
MMR is a decent start but more action is needed
The long-awaited Mortgage Market Review proposals from the Financial Services Authority could bring a much-needed injection of common sense to lending.
Proposals are vast improvement but check the details
After much anticipation, a couple of years of consultation and some stand-offs, the Financial Services Authority’s final Mortgage Market Review proposals were published a few days before Christmas.
Making the most of every opportunity
Unlike the heady pre-credit crunch days, when mortgage brokers could sit back and wait for sales opportunities to walk through the door, we now have to work harder for every customer.
