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Go figure…

When is bad news good news? When the news is better than predicted.

This was the clutching-at-straws announcement by the Council of Mortgage Lenders, which stated that while repossessions in 2008 hit 40,000, marking a 54% rise compared with 2007, this was 5,000 less than it had predicted.

Well, that’s OK then – sounds like an actuary was involved.

The CML said the decrease reflected the government’s efforts to allow owners to stay in their homes.

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Movers and shakers

Simon Conn says goodbye to Conti Financial Services

Simon Conn, sales and marketing director at Conti Financial Services (pictured), has decided to leave the overseas mortgage company after 15 years it, but he will continue to work for it as a consultant. Conn started out in the financial services industry with Legal & General in 1980 and founded Conti in 1994.

This could be the return of the MIG

At last, some joined-up thinking from the government was seen last week with an announcement that Northern Rock would start lending again.

Stars shine in the darkness

2008 was probably the toughest year many in the mortgage sector have experienced. With the wholesale markets closed, lending has pretty much ground to a halt and the impact on firms in the intermediary sector has been challenging to say the least. Many brokers who contact Mortgage Strategy are wondering when the next customer they can actually help is going to walk through their door.

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Defined benefit schemes: Part 2

Justin Corliss, business development manager In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS). In the first instance, PTS should familiarise themselves with COBS 19. All guidance below is designed to […]