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We need action, not government hot air

Sometimes I have little doubt why the country is in recession and that’s because we waste money on civil servants who come up with pointless ideas.

We have seen the demise of high LTV, self-cert and buy-to-let deals over the past year or so, so why do we now need a White Paper saying that’s the way forward?

OK, so we all know that some big-wigs at the top of big banks got profit crazy and made some big gambles that never paid off.

Since then we have completely rebuilt lending criteria, withdrawn high risk products, killed off the adverse credit market and even gone so far as to reduce commission payments to brokers to ensure best advice is given.

With Treating Customers Fairly the industry is in better shape than ever and this needs to be acknowledged as we edge out of recession. Let’s stop wasting money holding meetings to state the obvious and start investing money where we need it most.

We need government-backed mortgage indemnity guarantees to get the property market going again and get people on to the property ladder.

We also need cash to support developers with government-backed shared equity and shared ownership and we also need developers to feel confident that money is available for mortgages on new-build properties.

We need to start building again soon or demand will outstrip supply and the next property bubble will be born.


Shaping up for an age of uncertainty

Matthew Wyles used to be in charge of commercial and specialist lending at Nationwide but now, as group distribution director, he’s also responsible for branches, telephone and internet banking, retail support and intermediary sales across The Mortgage Works and Nationwide brands

NfI celebrates successful year

Nationwide for Intermediaries is celebrating the first anniversary of its broker salesforce being launched.

We ain’t seen nothing yet…

Lord Adair Turner’s recent review, a regulatory response to the global banking crisis, was according to the Conservatives, both a “devastating critique of the last 10 years of economic policy and financial regulation” and a “withering critique of its failings”.

Diet hard

In times of crisis it’s tempting to comfort eat your way back to some sort of happiness.


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


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