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Common sense will return when lenders take responsibility

Naturally I share in the delight of hearing housing minister Grant Shapps state that the Financial Services Authority’s Mortgage Market Review was a step too far (Mortgage Strategy November 29).

But common sense is unlikely to return to mortgage lending for a while regardless of government or regulatory initiatives.

Preventing a repeat of the past merely requires lenders to take responsibility for their decisions and if the assessment of affordability is subsequently found to be less than rigorous, then the lender should not be be able to repossess the property.

This alone would represent a robust method of self-regulation just as it used to be before regulation.

Duncan Jones


Ross Bowen takes up new role at Connells

Ross Bowen has been appointed group mortgage services director at Connells. He takes up the role in addition to his current position as managing director for Connells Survey & Valuation.  


Dish of the day

As the mainstream market remains constrained, there’s growing appetite for bridging loans to plug the gap, which bodes well for the sector in 2011

The Mortgage Mole



Trust me, I’m a provider

By Craig Paterson, Underwriting and Claims Philosophy Manager, Royal London Hard-hitting headlines “Dying mother of two is refused life insurance payout.”1 “What a way to treat a dying man: Grandfather refused life insurance claim.”2 “A widow betrayed by a life insurance company.”3 With headlines like these, it’s no wonder some consumers don’t trust providers. Trust […]


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