View more on these topics

Editor’s note: Accentuate the positive

It’s easy to focus on the negative when faced with challenge or change.

You only have to take a look at Twitter on any given day to find it riddled with complaints from angry commuters and hard-done-by consumers; I’m definitely guilty of this, as my social media followers can attest.

It’s the more controversial comments that tend to draw the most attention – positive news can often fall by the wayside.

Since the start of the year, the mortgage industry has been hit with an abundance of new regulation, tax changes and guidelines, while also having to ensure that consumers are treated fairly in the ever-watchful eyes of the FCA.

We hear the outcry from many, but what about looking at these challenges from a different perspective by regarding them as an opportunity?

Earlier this week, a broker contact put it to me that the tougher underwriting standards for buy-to-let, announced recently by the PRA, presented an opportunity for advisers to reinforce their position in the marketplace as experts, while also providing them with the chance to get in touch with clients and explain the rulings. After all, what would ‘CP11/16’ mean to anyone outside the industry, other than sounding like a distant relative of C-3PO…

Another esteemed contact pointed out that advice would be more crucial than ever among buy-to-let investors because the barrage of changes to tax charges and relief might be hard for landlords to digest.

She highlighted that the need for advice might be even more prevalent with regard to limited company borrowing, as many of these deals are provided by lenders not typically on the high street.

The differences in criteria for these types of loan could be difficult to navigate and this is one area where advisers can prove their worth.

As Sir Winston Churchill – an oft-named all-time hero of Mortgage Strategy’s One to One feature – is quoted as saying: “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”

Wise words indeed.



BTL mortgage market growth of 50 per cent predicted to slow

The buy-to-let market grew nearly 50 per cent in the past year, according to the latest IRESS survey, although growth is predicted to slow as tax changes in the sector take effect. Further findings of the Mortgage Efficiency Survey 2016 revealed that first-time buyer growth was negligent, up just 0.7 per cent, while home mover […]

lifetime lease purchases

What is a lifetime lease purchase?

Lifetime lease purchase deals involve raising finance but not on current properties. Rather, they are taken out when consumers move home. They are called lifetime lease schemes. Although not identical to sell-and-rent-back options, they are unregulated too. Lifetime leases are designed for clients who want to move but either cannot afford to or don’t want […]

FCA logo new 2 620x430

Mortgage broker refers FCA cancellation to Upper Tribunal

A mortgage broker has referred an FCA decision to cancel his permissions to the Upper Tribunal. The FCA cancelled Michael Wilkinson’s permissions to carry out regulated activities in May for providing inaccurate information about his capital resources. The regulator also found he did not meet his capital adequacy requirements for the business. Wilkinson was a sole trader […]

piggy, cash, money

Reassuringly focused on claims

By Ross Jackson, senior protection marketing manager We’re sure you’ll have heard your customers say ‘But insurance companies don’t pay claims’ when giving a reason for not wanting to take out protection. In fact, our State of the Protection Nation research showed that 27 per cent of consumers asked didn’t think protection providers paid out […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


News and expert analysis straight to your inbox

Sign up