View more on these topics

It seems to be bank policy to keep FTBs from housing ladder

Over the last couple of weeks I’ve seen headlines about house prices needing to fall by 20% to get the market moving and that first-time buyers can’t get on the ladder.

Banks have created a situation where first-time buyers cannot get into the market, using the excuse that they must be responsible with lending.
On the basis that prior to government intervention they would grant a mortgage to anyone with a pulse, they did need to become more responsible. But are they taking advantage of the system to control the market?

They could not do this without support from other banks and as most of these are wholly or partly owned by the government, presumably it also supports this course of action.

How can this be though, when the likes of business secretary Vince Cable are so vocal in their insistence that banks should be lending more? Call me cynical, but I don’t think it is the first time a politician has told us one thing when meaning another.

John Toogood
Debt Free

Recommended

JASON BERRY SALES AND DIRECTOR SAFE&SECURE

Partners can make it easy to diversify

Always optimistic, I remain encouraged by opportunities still evident for brokers in our financial services marketplace. While conditions remain difficult there are exciting solutions for brokers that can reduce costs and increase incomes. Diversifying normally requires effort and money but becoming an introducer can reduce compliance responsibility and remove Financial Services Authority fees as well […]

Offers of funding are starting to roll in, says Tiuta

Guy Garrard, head of business development at Tiuta, has revealed it has received a number of offers for funding. Speaking at the Mortgage Business Expo last week, he told the audience that the offers are from well-known firms. Garrard says: “Six months ago nobody wanted to talk about funding but now we are getting many […]

DAVID FINLAY, INTERMEDIARY BUSINESS DIRECTOR, BARCLAYS

Competition is good but quality counts

Competition is a vital component in any market conditions so it was good to read that the number of live mortgage schemes available to brokers has climbed to its highest level in two years. Figures from Mortgage Brain’s monthly product analysis suggest a 5% increase in product availability in October led to the number of […]

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 […]

Newsletter

News and expert analysis straight to your inbox

Sign up