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Mortgages Direct questions base rate rise

Peter Gladdy, director of Mortgages Direct says the current economic situation is not strong enough to justify a rise in rates.

He says: “The housing market is stable and currently showing modest overall growth but the latest rise in interest rates could cause a substantial change in homebuyer attitudes and significantly dampen activity in the housing market.

“The latest announcement is particularly bad news for first time buyers, who are finding it increasingly difficult to get on the property ladder. In addition, many homeowners are now reaching the end of their discount periods, and they will be exposed to immediately higher mortgage payments.

“Any further interest rate rises will have a devastating impact on a large number of homeowners.”


TMA teams up with TMO

The Mortgage Alliance has chosen TMO to be its sole packager.TMA members submitting business to TMO, under the TMA umbrella, will qualify for enhanced proc fees on TMO’s near-prime and sub-prime packaged panel products.Jon Haynes, director at TMO, says: We are delighted to have been chosen by TMA as their sole packager of choice. Feedback […]

Give clients a fair deal on protection

The mortgage industry cannot stand aside from the debate as regulators have their say on the question of fairness in the payment protection market, says Bill Warren

City of London residents most polluting

The Liberal Democrat Party has revealed the City of London emits 55 times more carbon dioxide per head than Hackney. Research shows that the UK is emitting almost four times the current global average emissions, with an average of around 9.2 million tonnes of carbon dioxide per person. The top five areas producing the most […]


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