View more on these topics

Simpler planning laws aren’t enough

On the one hand it was great to see the Government recently relaxing the planning laws to allow more property extensions to take place. But I do wonder how they are going to be funded.

Robert Winfield

Many clients are already mortgage prisoners due to the demise of interest-only, self-cert, adverse credit and changes to personal circumstances. The net result has been that they cannot touch their mortgage.

Those that are able to consider adding the cost of an extension to their mortgage now face the extra challenge of having to switch the whole loan to repayment for exceeding LTV limits, shortening the term of the loan to meet maximum age requirements and the loss of a fantastic SVR as a new product will be forced upon them.

Whenever you remortgage for home improvements it is a gamble. Is the work you are doing going to add value to the property above and beyond the cost of the improvements?

Nowadays there are so many other factors that you need to consider that giving best advice will become even more challenging.

All in all the news will be better received by the lenders as it gives them more opportunities to tidy up their back book.

I don’t think it will create much activity in the real world though as simplified planning permission is one thing, but without simple funding it will remain in the blocks.


Max Wright PTFS

PTFS reports 38% drop in profits

Personal Touch Financial Services has reported a 38 per cent decline in profits after tax for 2011 compared with year ending December 2010.


Santander adds mortgage direct debits to 123 account

Santander is offering 1 per cent cashback to new and existing 123 current account customers who pay their Santander or Abbey for Intermediaries by direct debit. The offer is available from Monday to 123 customers who take out a Santander mortgage and to Santander mortgage customers who open a 123 current account, when they pay […]


Bolder housing policy required

We have all read reams about the paucity of available mortgage financing and tight credit conditions pushing average age of first-time buyers to 35, from 24 in the sixties. In the go-go years leading up to 2007, cheap money and loose credit allowed just about anyone to live the dream. Along came the crisis and […]

Qatar cover image - thumbnail

White paper — Qatar International Insights

Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.


News and expert analysis straight to your inbox

Sign up