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73% Say lenders should relax income multiples

An overwhelming 73% of readers last week voted that with first-time buyers struggling, it is time for lenders to relax income multiples.

Economist John Wriglesworth urged lenders to increase income multiples in last week’s magazine. He says in a period of strong economic growth, the risk of offering 6 x income is minimal and it is time for lenders to relax their criteria on fixed rates.

This week MS asks: “Should the Financial Services Authority review MCOB as requested by IMLA?”


Nags Rahman quits Mortgage Times

One of the founding directors of The Mortgage Times Group, Nags Rahman, is leaving the Group to pursue his own personal business interests. Rahman has handed over all his responsibilities to the remaining three directors.The Group has also announced the appointment of Kevin Morris as head of compliance. Morris joins from NHFA, part of the […]

Lack of trust on the home front

Research from Lloyds TSB Insurance reveals that only one in 10 of us trust our neighbours. As a result, the insurer is calling on home owners to ditch their traditional British reserve and make an effort to get to know their neighbours better. While 93% of home owners claim to know who their neighbours are, […]

A&L defends cautious B2L strategy

Alliance & Leicester has hit back at claims that its entry into the buy-to-let market is belated and shows a lack of commitment to the sector. A&L revealed in early August that it plans to enter the sector next year after feedback from intermediaries suggested they do so, but has come under fire from HBOS […]

MI comes to broker’s international rescue

Mortgage Intelligence’s appointed representative network Spirit has gone international with the addition of an adviser working on a British military base in Germany. Nigel Garside, proprietor of BFG Mortgages, has been in the mortgage and IFA business since 1988 and has clients in Germany, Cyprus, Hong Kong and Beijing. He is based at the main […]


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