Much has been made of Gordon Brown’s decision to renege on placing residential properties in self-invested personal pensions. Although the reality is that they will have had little impact on brokers, which can’t be said for Home Information Packs. Let’s see whether the chancellor pulls a last-minute U-turn on those as well. Over the course of the next year, it will be interesting to see the government’s stance unfold. Nearly 1m a day is wasted on sales that fall through and HIPs will supposedly address these problems by providing information upfront.Estate agents will make their mark when it comes to HIPs and setting the date back to June 2007 at least leaves 18 months to put a strategy in place. Indications elsewhere show that despite profit concerns, activity in other areas is becoming more ferocious by the day. Specialist lending is one of those sectors where there has been a significant amount of movement. And this looks set to continue throughout 2006 as more companies aim to benefit from the UK mortgage market. Countrywide (US), for example, has moved closer to setting up a UK sub-prime lender by purchasing the remaining 30% stake in Global Home Loans. Obviously, it would appear that the fears about regulation have not surfaced. Clearly a year has passed since regulation, and far from raising the barrier to entry, exactly the opposite appears to have happened. Knowing the Financial Services Authority’s regulations have been in place for more than a year, providing the market with certainty and stability, has created attractive qualities for investors with an eye on becoming part of this dynamic market. Finally, happy Christmas to all our readers and let’s hope we all enjoy a prosperous new year.
Research by Mortgage Brain shows 47% of intermediaries believe business levels will increase in 2006.
House prices have started to rise again for the first time in 15 months reports the latest Royal Institution of Chartered Surveyors housing market survey published. The three months to November saw 4% more chartered surveyors reporting rises in prices than falls. Octobers figures showed a balance of 8% reporting falls. Buyer enquiries have consistently […]
From Guy Garrard How refreshing to read Nigel Payne’s response to Simon Mouncher’s letter in Mortgage Strategy (November 14). The Mortgage Business is “firmly behind packagers” and sees them as being “closely linked” to its growth. What a shame then that as a major UK packager all of five minutes’ drive from TMB’s Chester offices, […]
Following the early retirement of two of Skiptons executive directors, the society has made several appointments. With the society and its 16 subsidiaries, the position of group corporate development director has been created to ensure the Group remains on target for future growth. Leading in this role will be David Cutter, currently the societys operations […]
The UK is ending what has been its slowest economic recovery on record with a marked acceleration in growth. Neptune’s forecast for UK GDP growth in 2014 is 2.5 per cent, up from 2013 growth of 1.8 per cent as estimated by the Office for National Statistics. When considering the changing UK macro outlook, three important questions remain:
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