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Abbey mortgage must be kept in perspective says My Mortgage Direct

Abbeys move to retain its share of the mortgage market by increasing homeowners borrowing power must be kept in perspective, according to broker My Mortgage Direct.

Paul Hearnden, managing director of My Mortgage Direct, says: The current climate of must-have-it-now has led even the most clued-up borrowers into believing that this kind of offer from a trusted name like Abbey must mean its OK to borrow up to hilt.

Abbeys offer may be interpreted as somewhat reckless at first, but we should remember where the responsibility for sensible mortgage lending really lies.

Borrowers must take a realistic attitude to how much debt they can manage and advisers must ensure that their clients are fully aware of the consequences of overloading themselves with a huge mortgage.

Remember that other credit commitments will reduce the amount of loan available and that how a borrower conducts their credit file will be a very important consideration.

With affordability checks and thorough credit searches, this move should not, in theory, result in homeowners getting into deep water


Halifax Hispania opens branches on Costa del Sol

Banco Halifax Hispania has opened two new branches on the Costa del Sol in Sotogrande and Guadalmina.The new branches of Banco Halifax Hispania have been installed to serve the growing British expatriate market looking to buy a second home in Spain. Banco Halifax Hispania also has branches on the Costa del Sol in Mૡga, Marbella, […]

Home Buyer Systems improves advice process

Home Buyer Systems has introduced a suite of improved features for its integrated mortgage and general insurance advice and sales system that ensures end-to-end regulatory compliance.In response to demand from users, there is now a workflow administration and customer relationship management system available from the Home Buyer main menu that provides standard customer letters, template […]

NAEA warns against higher interest rates

The National Association of Estate Agents is advising the Bank of England against increasing interest rates further in November, when a further quarter per cent rise is expected to take rates to 5%.The October Monetary Policy Committee minutes, provide a strong indication that the committee will almost certainly vote in favour of the increase when […]

Land Registry launches House Price Index

The Land Registry has launched a House Price Index which only looks at the multiple sales of the same house, rather than looking at single sales within a time period.The new index utilises the repeat sales regression method, which also forms a part of Calnea’s automated valuation model. Under RSR, house price growth is measured […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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