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Advantage releases sub-prime survey results

Advantage Home Loans has released the results of its September index findings.

The results are based upon a survey completed by its panel of lenders and represents from the industrys sub-prime mortgage sector.

Since the Advantage Non-Conforming Index launched at the start of the year, trends show that average loan sizes have increased by 13,000 based on the results received by the panel. Reaching for the first time at an average high of 114,634.

Product innovation in September was good as many lenders brought new products to the market, Advantage has seen dramatic rises for self-cert business (with a record 32% from one lender) and Right to Buy (23% increase) fuelled by products that meet the needs of this client base.

Factors affecting brokers in this market still show that search engines are not fulfilling the requirements for non-conforming brokers, five out of the six lenders continue to state that brokers are not maximising the opportunities open to them.

Remortgage is continuing to account for the majority of sub-prime product transactions, this level has been fairly constant throughout the year, varying only between 53%-56%. The buy-to-let market seems much slower, and the number of first-time buyers in the market is still low.


Callcredit responds to feedback

Callcredit has responded to feedback from its rapidly growing customer base by launching new versions of its two online credit reference reports, CallReport and SHAREReport, which are more intuitive and user friendly.Graham Lund, product director of Callcredit, says: More and more UK lenders are signing up for our services and providing us with valuable feedback. […]

BDMs are alive, well and valued at Bristol & West

From Dierdre McManus I read Monty Burn’s article in Mortgage Strategy last week (October 24) and would like to reassure him the business development manager is not a dying breed here at Bristol & West. I have a team of over 40 bdms giving national support to intermediaries and our business is a firm believer […]

Law firms plan will not give cowboys free rein

Salans says moves proposed in a government white paper will not mean cowboys are free to buy and run law firms, despite industry concerns. The plans were published last week and propose that external companies would be able to take 100% ownership of law firms, meaning they could be floated on the stock market. The […]

The big sourcing systems have no incentive to change

From Ernie Reeves Simon Mouncher’s letter regarding sourcing systems (Mortgage Strategy October 17) is the tip of the iceberg and represents a much deeper underlying problem faced by packagers and product providers who want to see their products on one or more of the main sourcing systems. Packagers, branded mortgage arrangers and lenders have little […]

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


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