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Don&#39t knock self-certification, says BMS

Birmingham Midshires Solutions says that the small minority of brokers abusing self-certification mortgages by overstating the income of their clients, putting the industry&#39s reputation and the client&#39s future at risk, should not put people off these products.

Steve Sandiford, head of borrowing products at BM Solutions, says: “Self-certification is a very valuable weapon in a mortgage adviser&#39s armoury. It is ideally suited for those whose income does not come in regular monthly chunks.

“Intermediaries have a responsibility to give their clients best advice. If a mortgage has been &#39sold&#39 on the basis that it extends the applicant&#39s borrowing ability without taking into account affordability, clearly this is against the spirit of best advice.

“That said, professional advisers should not let the behaviour of a very small number of brokers detract from the merits of self-certification.”


Skipton acquires health insurance intermediary

Skipton Building Society has today acquired a new subsidiary in the shape of an 85% shareholding in the Private Health Partnership (PHP) – an independent healthcare intermediary. PHP was founded in 1988 and operates from its headquarters in Otley, West Yorkshire. It provides advice on a full range of private medical and dental insurance, to […]

My mortgage week

Monday: I start with a visit to our local gym which is on the way to the office. After a good workout I feel ready to face the rigours of a fresh week in the mortgage industry. I know that this week is going to be more than the usually busy as Brentchase Financial are […]

L&G warns advisers dangers of regulation

Mortgage advisers were yesterday warned that the significant changes facing the industry will strain their businesses or sink them unless they gear up now. Mortgage regulation, general insurance regulation, margin pressures and Sellers Packs are just some of the major upheavals due to impact the housing industry within the next few years. Unless mortgage advisers […]

House prices rise at fastest-ever rate

House prices are rising by 30.6% a year, the latest Halifax house price index reveals. The figures record price growth of 4.7% for October – the fastest rate ever – and take the average price of a UK home to £122,377. HM Land Registry also confirmed an 18% surge in average prices in the year […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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