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FSA is missing the obvious by homing in on single problem

The FSA tells us that it does not want lenders to justify declined cases, but as usual it has retrospectively homed in on one potential problem while remaining ignorant about what occurs in the real world.

As the comments on Mortgage Strategy Online show, refusing to disclose why a case was declined causes aggravation which consumers whom the FSA purports to protect will end up paying for.

I’m not denying that mortgage fraud goes on but someone committing fraud is likely to know why a case might be declined in the first place.

A genuine person is less likely to realise that they have been rejected for reasons like incorrect entries on their credit file.

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Shared equity deal will just be a debt trap for first-timers

I read Mortgage Strategy reporter Tessa Norman’s blog about Castle Trust’s shared equity scheme last week and was unimpressed by the deal. It will offer borrowers who have a 20% deposit an additional 20%, so they can access a 60% LTV deal from another lender. When the property is sold or the mortgage term ends, […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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