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Economic tracker – June 2011

Our monthly economic tracker provides data and expert commentary on the health of the housing market

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60 Seconds with…Kristina Grimes

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FSA extends PPI payout times

The Financial Services Authority has granted Barclays, Lloyds Banking Group and the Royal Bank of Scotland temporary time extensions to handle payment protection insurance complaints. The regulator said last year that all banks must compensate customers who were mis-sold PPI, which could cost a total of £4.5bn. The British Bankers’ Association appealed the decision so […]

Remortgage approvals slow as risk of interest rate rise recedes

Remortgage business has fallen 28% in April and will remain subdued, the Council of Mortgage Lenders has warned. Figures from the trade body released last week show there were 24,700 remortgage loans worth £3bn advanced in April, which is down 28% by number and 27% by value on March’s 34,100 loans worth £4.1bn. The number […]

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Shared views will aid mortgage debate

The Financial Services Consumer Panel recently published a six-point plan for a sustainable and flexible mortgage market. It could have been penned by the CML, there was such a convergence of views. It argued regulation should help consumers and that regulatory policy should take account of wider social and economic implications a key point we […]

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  • David Bowen 23rd June 2011 at 11:21 am

    I agree with Steve`s comment… plus, I`ve lost count of the amount of c/score declines I`ve had over the past few months (particularly FTBs & buyers with modest deposits)where from my fact-find I consider that they have good profiles…

  • Steve Langrick 21st June 2011 at 2:40 pm

    Always nice to hear a Lender say that a)they value the intermediary market and b) that the public should as well.
    Why restrict the way that Intermediaries can then help Buyers (particularly FTBs or Buyers with smaller deposits) by not allowing them access to all their Product Range?