View more on these topics

8 x income products could be on the horizon

Technical director of Hamptons Mortgages Jonathan Cornell predicts that 8 x income multiple products could well be on horizon.

Speaking at the Mortgage Business Expo in London today Cornell says that the current raising of the bar of income multiples by lenders is a natural effect of product innovation on the mortgage market.

He says: “We are seeing a move towards affordability rather than income multiples. Income multiples are at relatively modest levels. I would not be suprised to see 6, 7 or even 8 x income muliples in the future.

“There is no sign that the property bubble is going to burst. The falling interest rates mean home oownership is becoming more important.”


Change at the top for DFS

Direct Financial Services has changed its senior management structure. Founders Malcolm Davidson and Alex Knaggs will become joint managing directors. They will steer the direction of the group’s activities, which cover mortgage packaging, financial advice, estate agency and property investment.

FSA’s contact centre receives accreditation

The Financial Services Authority’s Firms Contact Centre has received accreditation from Contact Centre Association, the UK’s professional body for contact centres.The FCC provides regulated financial firms with a direct point of contact to help them understand the FSA’s regulatory requirements. It handles telephone and written communications from firms and is the point of contact for […]

Trustguard expands inhouse underwriting team

Trustguard is planning to expand its inhouse underwriting team because of rising business levels. First National has placed an in-house underwriter at the Cardiff-based packager after Trustguard’s completed applications with the lender rose 300% over the year to the end of October this year. The underwriter is the latest additions to Trustguard’s inhouse team that […]

Mortgages PLC launches training scheme

Mortgages PLC has introduced a training scheme to help develop business development managers of the future.As part of the new trainee area manager scheme Mortgages PLC has created three positions aimed at graduates and people looking for a first move into a field sales role. The scheme aims to equip participants with a thorough knowledge […]


News and expert analysis straight to your inbox

Sign up