View more on these topics

At least the first bricks are in place

Robert Winfield

As I watched England get trounced last Saturday at the Million Stadium in Cardiff, I started chatting to some chaps who were partying like it was 1999.

I had already worked out they were English, so why the cheery disposition?

It transpired that they were brickies and they had just been informed that they had six years worth of work on sites in Wiltshire.

This huge investment had finally assured them that staying in the trade was the right decision a few years ago and they were slapping themselves on the back with gusto.

On the outside I showed that I was delighted for them, but inside I was wondering how these resales were going to be financed?

You can assume that a percentage will go to Housing Associations and they will be used for letting or shared ownership. The remainder will need to be sold and who is going to buy them as criteria is still extremely tight on new build properties and the NewBuy scheme is good, but limited.

Being optimistic you could think that the developers are buoyed by recent improvements to lending as a result of the Funding for Lending Scheme and confident that when these properties are ready the market will be awash with cash.

Being suspicious you expect conversations have already taken place with the Government before starting these big projects and one of the Government banks will be lending oodles on new build in the very near future. Being pessimistic all you can do is cross your fingers and hope that both the homeowner and buy-to-let criteria on new build improves drastically. Whatever your disposition, this is great news for lots of people and their jobs.


Registrations opens for MBE event

Registration for the Mortgage Business Expo Manchester in May has now opened. The event is free to attend and will take place at the Lancashire County Cricket Club on 23 May. Accord, Aldermore, Nationwide for Intermediaries/The Mortgage Works, Platform, Precise Mortgages and Virgin Money are among the lenders who have already confirmed their attendance as […]

Montlake Andrew MS blog 150


There are quite a few candidates for villain this week but Help To Buy could prove to be a hero if the massive gamble pays off.


Another senior manager to leave PTFS

Personal Touch Financial Services’ head of compliance Stuart Baker has become the latest member of senior management to leave the network.

Apfa says ban chasers over bogus claims

The Association of Professional Financial Advisers has written to the justice secretary Chris Grayling to urge the Ministry of Justice to suspend or ban claims management companies that submit bogus claims. In his letter to Grayling, Apfa chairman Lord Deben says there is an increasing number of claims being submitted by CMCs where no policy […]


News and expert analysis straight to your inbox

Sign up