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JEREZ 2006: Success of new entrants questioned

Lenders have cast doubts on how successful the new lenders entering the market in 2006 will be.

Speaking at the Jerez Mortgage Summit on June 21, Charles Haresnape, managing director of mortgages at the Bank of Scotland, said centralised lenders dont normally last the term and questioned whether the crop of new lenders jostling for a position in the market would be able to achieve long-term sustainability.

Haresnape says that Bassel II capital requirements and the need for credit systems could also pose a problem for the new entrants.

He adds: While more competition is welcome, the long-term sustainability of securitisation-based lenders isnt proven.

Tim Hague, director of BM Solutions, says that while there is room in the market for competition, he is concerned about lenders getting greedy for market share.

He warns: Lenders dont want other people to come and eat their lunch for them.


Commercial pass

InterBay Funding’s underwriting manager Tim Shutler has passed the Certificate of Commercial Mortgages.

Brits fail to realise retirement dreams

One in two Britons plan to travel the world when they finish working, but research out from engage Mutual Assurance shows few pensioners ever fulfil their retirement aspirations.With the governments long-awaited white paper on pensions proposing anextension of the state retirement age, and the Britsaver scheme set toimpact on pension provision, engage Mutual Assurance compared […]

Independence still key to societies, says Stafford Railway

Despite a recent flurry of building society mergers, independence is key to the future, says Stafford Railway. Mike Heenan, chief executive at Stafford Railway, says: “We have already seen agreement for three mergers this year, with some deals seeing larger societies swallowing up smaller players. “With speculation of rising costs and shrinking margins, industry commentators […]

Strong rise in house prices

House prices have shown their strongest rise for two years, says the Royal Institution of Chartered Surveyors.


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