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Shapps must come clean on first-time buyers problems

I was interested to read how housing minister Grant Shapps thought that more could be done to help first-time buyers ahead of a summit last week (Mortgage Strategy Online).

Shapps, Prime Minister David Cameron, former Liberal Democrat spokesman Lord Oakeshott and Labour MP George Mudie are weasels insincerely professing concern for first-time buyers.

Where was the concern when prices were rocketing for 10 years. This is just a cynical attempt by Shapps and his cronies to kill off a sensible piece of legislation by the Financial Services Authority.

They know it will help further deflate the housing bubble which will benefit first-time buyers. But it will harm the many leeches, including the myriad of MPs with two or more homes, who feed off our bloated housing market.

Shapps come clean about your true intentions and save your crocodile tears for the Oscars.

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We need to know the details of the Project Merlin deal

Chancellor George Osborne has reached a deal with major banks to raise business lending by £10bn this year. Osborne says Project Merlin, which involved discussions with Santander, HSBC, Royal Bank of Scotland and Lloyds Banking Group, will mean £76bn of small and medium-sized enterprise lending. That represents an increase from £66bn in 2010 and Osborne […]

Take proc fees out of the equation and everyone’s happy

I was interested to read last week’s cover feature about whether brokers should charge a fee or not (Mortgage Strategy February 7). Why don’t lenders stop paying a proc fee and then not charge an administration fee for introduced business? Essentially cases from brokers require minimum administration as they are provided fully packaged. In most […]

House prices to fall 1.7% in 2011

After recording year-on-year growth of 6.4% in 2010, the housing market recovery will stall in 2011, leaving house prices 1.7% lower compared to last year according to the latest forecast from the Centre for Economics and Business Research.

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]


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