Am I the only one who wasn’t surprised at base rate rise?

From Adam Chavins

I recently took took a look through Mortgage Strategy and found that every other article seemed to be quoting people who were surprised about the base rate rise. Maybe I’m an exception but I wasn’t.

It’s not that my degree in economics or my 10 years’ experience in the mortgage industry helped – it’s just that that the base rate always changes in August, and it wasn’t going to go down.

Adam Chavins

Independent mortgage adviser

Prospect Financial Services


From David Wylie

I read with great interest the comments from Payam Azadi in his letter published in the August 7 issue of Mortgage Strategy. I wholeheartedly agree with everything he said and believe that companies should be made to provide more information in press releases when they contain claims of substantial levels of growth. The culprits include brokerages, lenders, packagers and packaging organisations.

At C2-Financial we have a policy of transparency and our press releases regularly contain factual information about our performance. I am disappointed that despite repeated requests by me in the press, other packagers have not seen fit to release factual information about the strength of their financial positions. This would go some way towards reassuring brokers that their proc fees are safe in the hands of packagers.

Praise must go to Vesta for stepping up to the challenge but this was a meagre response from the industry. If firms have nothing to hide why can’t they be more transparent with their financial information? Brokers deserve to know.

David Wylie