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Second charge covered by support plan

Secured loan lenders are to be included in the government’s Homeowner Mortgage Support Scheme.

The government published details of the scheme last week and revealed that it has been extended to cover families at risk of repossession because of additional loans secured on their homes.

The Finance and Leasing Association lobbied for the inclusion of secured lenders.

Fiona Hoyle, head of consumer finance at the FLA, which repre-sents around 80% of all secured loan providers, says: “One of the biggest challenges facing second charge lenders is making sure they are involved in government initia-tives such as the Homeowner Mortgage Support Scheme.”

For unemployed borrowers to qualify for the two-year guarantee to underwrite their mortgage interest payments, they must seek financial advice from parties other than lenders to determine their eligibility. Buy-to-let deals will not be included in the scheme.


Dual pricing on the decline claims AMI

The Association of Mortgage Intermediaries says the number of brokers unable to assist clients due to lenders offering better deals direct has decreased from 48% to 33%.

Network mergers will be limited

Some pundits are talking about networks being crunched, with only half a dozen large firms remaining by the end of next year.


Trust me, I’m a provider

By Craig Paterson, Underwriting and Claims Philosophy Manager, Royal London Hard-hitting headlines “Dying mother of two is refused life insurance payout.”1 “What a way to treat a dying man: Grandfather refused life insurance claim.”2 “A widow betrayed by a life insurance company.”3 With headlines like these, it’s no wonder some consumers don’t trust providers. Trust […]


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