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O Come, All Ye Faithful brokers

You could be forgiven for not feeling in the festive mood this season but as the new year approaches many brokers and lenders will be hoping that the new year brings with it some good news.

Chancellor Alistair Darling cannot be described as being a Scrooge when it comes to dropping interest rates, but it remains to be seen whether his actions will actually help or hinder the mortgage and secured loan market. has carried out its own poll amongst the secured loan market to see what firms would like to see in their Christmas stocking and whether they think the Chancellor should be receiving a lump of coal.

Robert Sinclair, director, Association of Finance Brokers

The government is focusing on ways to keep people in their homes at the moment, it needs to start addressing issues of refinancing and what the getting people to move house. Brokers need to make it a political issue and start going into their local MP’s office and making their lives a misery, it is the only way they will listen.

Garry Dean, commercial director, Need a Loan

The government needs to start lending higher LTVs and encourage first-time buyers back into the market which will lead to people coming out of negative equity.
It should offer a scheme where it pays a 20 or 30% loan to first-time buyers so they do not need a deposit.

Tony Sutton, managing director of Independent Specialist Finance

Lenders need to come back into the market and start lending again that is the only way the market will pick up.

Steve Heywood-Jones, business development director, Equifax

The government has gone too far, it has gone to the other extreme in terms of lending and is being too safe and weary.

Dan Gale. director, Help group

Time is a great healer I think the market will recover itself in time and should not be pushed. The government forcing banks to lend will not do any good at the end of the day most of the banks will be using taxpayers money.

Michelle Blair, broker liaison, Loans etc

The Financial Services Authority needs to crack down on phoenix firms so the ones that are doing things right stand a chance. It doesn’t send out a good message to the rest of the industry if the FSA is not cracking down on phoenix firms.

Please email what you would like to see happen in 2009 to


Network consolidation predicted

Industry pundits are expecting rapid consolidation in the network market over the next six months.

Spowart to plead against Lloyds takeover on C4

Jim Spowart, the founder of Intelligent Finance, and Scottish National Party MSP Alex Neil will call on HBOS shareholders to vote against the planned Lloyds TSB takeover on Channel Four tonight.

Base rate drops to 2%

The Bank of England has slashed the base rate to 2% a level not since 1939.The last cut, an emergency 1.5%, was intended to stimulate spending and stave off recession.Adrian Coles, director-general of the Building Societies Association, says: “Homeowners will welcome the MPC’s decision to cut the Bank Rate by 100 basis points to 2%. […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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