View more on these topics

Valuers ought to stop bleating and do a full day’s work

From Andrew Brownlie
In the August 14 edition of Mortgage Strategy, I read an anonymous letter headlined ‘It’s time to ask if the FSA provides value for money’.

I recently had a client ask me the same question about his valuation from Northern Rock. NR had sent a guy round to my client. He knocked on the door and stated that he was there to survey the house. My client told him he was actually there to do a valuation, but let him in anyway.

He was in the house for six minutes. Allow one minute for a chat, that’s five minutes for the valuation – and 295 for the privilege. When you work it out per hour this totals a pleasing 3,540. Nice work if you can get it.

Bear in mind some of these people are now bleating about wanting compensation from the government for its U-turn on Home Condition Reports. If they feel they are out of pocket, why don’t they do a full day’s work like the rest of us? A steady eight hours should rack up 28,320. Why do they need compensation? Work for a living.

Andrew Brownlie
Mortgages and Loans Saving Centre
By email


Star letter: Brokers should not blame the regulator and government for their problems

From Ron Radway I am responding to a letter in a recent issue of Mortgage Strategy (August 14) regarding the Financial Services Authority providing value for money. I am a regular reader of the letters pages and have noticed a recurring theme since Mortgage Day – some individuals seem to think that the FSA and […]

SPPL strengthens sales team

Southern Pacific Personal Loans has added two new members to its sales team.Debbie Mace joins SPPL as account manager for the North and Scotland, reporting to SPPLs national sales manager, Marie Kennedy. Mace joins SPPL from her former role as intermediary accounts manager at Accord Mortgages and has had more than 20 years service in […]

One in five FTBs rely on family rather than MPPI

One in five first-time buyers say they would rather rely on friends and family to pay their mortgage than take out payment protection in the event of losing their jobs. This apparent lack of faith in mortgage payment protection products comes as research by the Post Office shows that half of first-time buyers could only […]

FSA fines friendly society

The Financial Services Authority has fined The Ancient Order of Foresters Friendly Society 55,000 for financial promotions failings, including substandard television adverts and direct offer packs which targeted the elderly. This is the first time the FSA has fined a friendly society for financial promotions failings.

Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.


News and expert analysis straight to your inbox

Sign up