View more on these topics

Lending 5 x salary is far too conservative for Barclays

From Simon Collis

I was amused to see that Barclays’ CEO John Varley is not interested in lending 5 x salary (Mortgage Strategy January 15). That must be because it’s far too conservative for Barclays.

If you ring Barclays for a pre-approved mortgage limit figure on behalf of a client, nine times out of 10 it’s higher than any other lender. About 6 x salary is the minimum.

But I’m not surprised the chief executive’s finger isn’t on the pulse. After all, doesn’t it own Woolwich?

Simon Collis
Chadney Bulgin
Fleet
Hampshire

Recommended

Halifax agents will use LMS HIPs

LMS says it has won the biggest Home Information Pack contract in the market after it signed a deal to provide Halifax Estate Agents with HIPs.

Tony Jones to relinquish AMI board position

Tony Jones has revealed hell be relinquishing his position on the board of the Association of Mortgage Intermediaries following his departure from Pink Home Loans. The former managing director of Pink has been a member of the AMI board since June 2006 representing appointed representatives and network. However, following his decision earlier this month to […]

TV revelations on PPI will give a boost to brokers

From Sara-Ann Burgess There’s nothing like prime time TV exposure to focus the mind and I expect the recent Tonight With Trevor McDonald programme to have big implications for the sale of payment protection insurance. The big banks, which the FSA consistently shies away from naming and shaming for their mis-selling activities, have to face […]

PACKAGING SUMMIT 2007: Packagers claim industry innovation

Packagers feel that they are the drivers of new ideas and innovation in the industry, rather than lenders, according to a poll cast at this year’s Mortgage Strategy Packaging Summit.When asked whether they were happy with the relationship they had with lenders, and whether lenders were the innovation behind the packaging industry, nearly all packager […]