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MCCB research confirms affordability is key for consumers

The results &#45 from a survey of over 200 mortgage borrowers &#45 complement the mystery shopping research results published by MCCB in July. The survey covered the way affordability issues are being addressed by mortgage firms in the whole mortgage sales process.

This research is the last to be commissioned by MCCB to gauge consumer opinion ahead of the FSA taking over regulation of the mortgage market on October 31 2004. The study was conducted by research specialists NOP World amongst a sample of first-time buyers, movers (those taking out a mortgage to move house) and those re-mortgaging their property without moving (re-mortgagers).

Luke March, chief executive, MCCB says: &#34MCCB is pleased that the research shows that consumers are taking the costs involved in taking out a mortgage seriously. The research reveals that the internet in particular is being used by homebuyers to access information prior to getting a mortgage, which means that consumers are able to make better-informed decisions when they come to arranging their mortgage through a lender or intermediary.

“Overall there is little evidence to suggest that repayments are more difficult to deal with than consumers expected when arranging a mortgage, which reflects overall sensible levels of borrowing and generally the provision of good quality advice and information from mortgage firms.&#34


Redecortaing is our holiday obsession

The average person spends more than 20 days a year &#45 that&#39s a staggering 486 hours &#45 striving for perfection in their homes. A minimum of £550 is spent on each room of the house, on decorating materials such as paint, fixtures and fittings. And each person will decorate rooms up to six or seven […]

Network Data teams up with Conti

The partnership comes in response to rising interest in overseas property purchases and allows borrowers access to a comprehensive list of mortgage and insurance lenders, which until recently was limited in choice. Simon Conn, senior partner for Conti Financial Services, says: “Acquiring an overseas property can be challenging. By working with Network Data&#39s members, we […]

Mortgage Brain to host free training events

The events are open to all introducers and, in particular, Mortgage Brain users. Attendees will learn to better understand the new features of Mortgage Brain that enable compliance. The events will also include training so that introducers will be up and running in preparation for Mortgage Day. There will be two sessions per event. The […]

Property still the favoured investment, says GMAC-RFC

It is clear from the research that the public still have much more confidence in property than other forms of investment methods. Nearly half of those questioned (46%) consider property to be the best form of investment in the current financial climate, compared with just 14% who plumped for the security of a building society […]


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