View more on these topics

A stabilising market is good for brokers

AARON STRUTT, HEAD OF COMMUNICATIONS, TRINITY FINANCIAL GROUP
AARON STRUTT, HEAD OF COMMUNICATIONS, TRINITY FINANCIAL GROUP

Nationwide has been busy during the past few weeks. It has shot back to the top of the best buy tables with a five-year fixed rate at 4.39% and has introduced a 50% LTV band.

While this offers some customers a saving it also takes LTV bandings to extreme levels.

Getting borrowers to put down 50% of the property value is a big ask. But I understand that Coventry Building Society has been taking a
large amount of enquiries at this level and there is demand, so I can see the logic.

Nationwide is also offering mortgages over £2m. It argues that the mortgage market has settled to a level where it is comfortable enough to lend millions to one person.

Other high street lenders are not so keen to offer such large mortgages, but private banks are eager to do this kind of business so it is nice to give them a bit more competition.

Traditional lenders coming out and saying that the mortgage market is becoming more normal can only be a good thing for brokers.

Recommended

Restructure will lead to 680 job losses at Northern Rock

Northern Rock is to shed 680 jobs by the end of the year as part of a restructuring programme. It says the proposed restructure is intended to improve operational efficiency and align the number of employees with its medium-term growth expectations.The bank says it aims to mini-mise compulsory redundancies and will offer voluntary redundancy where […]

ROGER EDWARDS, PROPOSITION DIRECTOR, BRIGHT GREY & SCOTTISH PROVIDENT

A reality check can promote protection

One area often overlooked in a parent’s desire to do the right thing for their children is dealing with he family’s financial future. That means looking at how the family could survive the loss of income through sickness or death. Unsurprisingly, it’s more pleasant to have a family discussion about next year’s summer holiday or […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Close

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now