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63% Of brokers not worried about 5 x mortgages

A whopping 63% of brokers say 5 x income mortgage products are not a recipe for disaster. Abbey last week received widespread criticism following the stretching of its income multiples to 5 x despite many within the mortgage industry stating that lenders had been stretching to similar levels for some time.

This week Mortgage Strategy asks: “Should lenders impose a maximum age limit on mortgages?”

Q: Are 5 x income mortgage products a recipe for disaster?

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One-year deal proves popular

Beacon Homeloans says its 2.4% one-year discount mortgage is proving popular among its packaging partners and supporting intermediaries. Clive Wilson, head of sales for Beacon, says: “Our one- year discount complements our two and three-year fixed rates.”

OFT announces new executive director

The OFT has announced the appointment of Jonathan May to the post of Executive Director of Policy and Strategy. He has also been appointed by the Secretary of State for Trade and Industry to the OFT Board.Jonathan May joined the OFT at the end of 2001 as director of markets and policies initiatives following over […]

Cheval launches marketing blitz

Cheval Bridging Finance is looking to boost its lending volumes in the run-up to Christmas with the launch of a new marketing campaign. Under the slogan ‘Perfect 10’, the firm is seeking to promote the benefits of bridging finance to the wider broker community.

Easier2move offers instant payment facility for referrers

Easier2move is launching a new payment facility that will allow payment on the day of completion for referrers. Referrers can chose to be paid via BACS or by cheque. The payment system is available on all remortgage and sale and purchase work.Karen Babington, sales and marketing director of easier2move, says: “We are continually asking our […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]

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