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Mortgage debt of 1 trillion is no reason for concern

Drew Wotherspoon of John Charcol says the news that mortgage lending has broken through the 1 trillion barrier is not worrying.

He says: While 1 trillion in mortgage debt is a huge sum, when you consider the fact that there is an unmortgaged property wealth of around 3.6 trillion, this means that the UKs loan-to-value is a mere 22%, which is healthy to say the least.

While the amount of mortgage lending has been pushed up by the boom in house prices, there is little to suggest that consumers are saddling themselves with mortgages that they cannot afford.

Approval figures for May are at record levels, proving that despite previous fears of a crash in house prices, the market has picked itself up and the appetite for home ownership among consumers is firmly back on track.

I see no reason for this confidence to subside and would anticipate its continuation for the remainder of this year.


Goldsmith to speak at National Conveyancing Congress

Eddie Goldsmith, senior partner at leading direct conveyancing firm, Goldsmith Williams, has been invited to speak at the National Conveyancing Congress, which will take place at the Brit Oval in London on November 14 and 15.The congress is a new annual forum which will bring together senior individuals from all major industry stakeholders to share […]

Prudential to tour UK to advise IFAs

Lifetime mortgage provider Prudential is to embark on a 13-stop tour of the UK.Starting on the July 11 and running through to the August 3, the team of lifetime mortgage specialists will discuss with financial advisers how Prudential can help build a three step plan to a successful lifetime mortgage business. The workshops will look […]

We use SPASU to help our most vulnerable clients

From Bill Armstrong Simon Burgess (Mortgage Strategy Letters June 19) has an imperfect overview of the accident, sickness and unemployment cover market. All he can do is rant on about the evils of single premium cover. There is a place in the market for SPASU and the fact he does not market it leads me […]

Student digs perfect for SIPPs, says Assetz

Investing in purpose built student digs could be a way for parents to house their children and save for their retirement, says Assetz.Dedicated student halls of residence are permitted in self-invested personal pensions, which Assetz says makes them a perfect way of parents reducing their children’s debt and also investing in their own future, enjoying […]


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