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Marketwatch – June 2012

Heroes&villains

Hero of the week
London mayor Boris Johnson for visiting Coreco Group and reaffirming his support for apprenticeships, the London housing market, mortgage brokers and small to medium sized firms.

Villain of the week
The Financial Services Authority for increasing fees payable by mortgage firms. At a time like this when income for many is strained, a freeze on fees at the very least would be considerably more sensible.

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The Association of Mortgage Intermediaries says the Equity Release Council risks losing its focus by attempting to be a jack-of-all-trades. Last week, Safe Home Income Plans relaunched as the Equity Release Council and expanded its membership criteria to include not just providers but also advisers, lawyers and surveyors. The trade body hopes its rebrand and […]

ANDREA ROZARIO

We ARE on course for a better equity release market

On Mortgage Strategy Online last week Robert Sinclair, director of the Association of Mortgage Intermediaries, questioned the direction of the newly formed Equity Release Council. This week Andrea Rozario, director general of the Equity Release Council, gives her reposte.

Comments
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  • John 6th June 2012 at 5:17 pm

    Dear All

    What will happen to the clients who are on interest only at the end of their mortgage term?
    If they cannot afford to repay the balance (maybe neg eq situation) and have no repayment vehicle what are the legal options open. I have lots of clients in debt plans for whom this will be a very real and serious issue. Any advice welcome