View more on these topics

How many times do I have to tell you the answer, MS?

From Barry Cash

Three times in recent months you have got 40% of the answers wrong in Mortgage Master or Mortgage Moron.

Last week, despite my sending you the correct answers you again got question 4 wrong in your response on the Letters page. The deeds to a mortgaged property are held by the mortgagee so the answer is C, not the answer provided by Peter Motson.

This is not the obvious answer but it is correct. Consider this explanation:

An employer offers employment and an employee accepts it. In the case of John Smith obtaining a loan from Acme Loans, Acme provides a loan to John to enable him to become the legal owner of the house. In return, John offers a legal charge over the house, known as a mortgage, to Acme as security for the loan.

Hence, John Smith, the mortgagor, offers a mortgage to Acme, the mortgagee, who accepts it. The mortgagee keeps the deeds.

Tailormade Financial Planning


Our thanks to Barry and others who have pointed this out. Our apologies, but it&#39s good to know some of you are indeed well prepared for the onset of regulation!


MCCB reveals results of renewal period

The Mortgage Code Compliance Board has revealed the results for its final registration renewal period. Figures released by the Board show that 9,961 intermediary firms, who are responsible for 36,924 sales staff, have renewed their MCCB registrations for the final period of non-statutory regulation leading up to Mortgage Day on October 31 2004. In addition […]

Tenet buys Premier Protection network

IFA group Tenet, which owns mortgage and general insurance network Lime, has bought Premier Protection network for an undisclosed sum and says further acquisitions could follow. Pure protection network Premier, which will retain its brand name, has around 2,500 non-regulated advisers. The move brings Tenet&#39s total number of members to around 5,000. Premier will continue […]

Guaranteed appointed to LighthouseLoan panel

Guaranteed HomeLoans has been appointed to the LighthouseLoan panel, to service Lighthouse Group advisers operating in the mortgage sector. Guaranteed HomeLoans, are one of the leading distributors of non-conforming mortgages in the UK, offering many niche and exclusive schemes for the Lighthouse Group to benefit from. Lighthouse says its expertise in placing the more difficult […]

Welsh good times leave FTBs behind

House prices are racing ahead in Wales, rising by 36% over the past 12 months compared with 19.1% across the UK as a whole. But this heating up of the market is leading to fears that if there is a housing market crash, Wales will be hit hard. The country escaped serious fallout from the […]

InFocus - thumbnail

In Focus — February 2015

Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.


News and expert analysis straight to your inbox

Sign up