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A broker’s wish list for the coming year

By and large, 2011 was a pretty good year for the industry. Lending volumes stabilised after the carnage of the previous few years, dual pricing was pretty much behind us and most of the best deals were once again available via the broker market.

Here are a few of the things I’d like to see in the coming year.

1. We need a swift resolution to the eurozone debt crisis and an improvement in the wider global macroeconomic situation. If this can be resolved in a relatively swift and orderly fashion, then hopefully the UK can avoid another recession or, even worse for brokers, another credit crunch.

2. A steady and sustainable increase in house prices.

3. Gross lending volumes across the industry to rise further.

4. Lenders to focus even more on the broker market, eliminating dual pricing altogether (or tilting this in favour of brokers) and investing more in online systems and processing for brokers.

5. Increased provision of high LTV mortgages and higher lending multiples where appropriate.

6. New lenders in the mortgage market, increasing product innovation and competition.

7. Relaxation of criteria on new build mortgages, boosting constrained lending levels.

8. Increased competition and innovation in buy-to-let, with higher LTV products and a return to fixed arrangement fees. Santander has finally made its entry into this market so hopefully other lenders will follow.


Paper shows FSA is at last listening to the industry

I am delighted to see in its latest Mortgage Market Review paper that the Financial Services Authority has moved on from its utopian ideas and woolly rhetoric, so common in its publications, to produce a set of practical and well thought out proposals. I am particularly pleased that at last it has stood up to […]

Finance chiefs brace for recession

Most chief financial officers at the UK’s biggest businesses are working on the assumption that Britain will fall back into recession this year, according to a poll conducted by Deloitte. Deloitte’s latest CFO Survey reveals that 54% of respondents expect the UK to suffer a double-dip recession this year, up from 27% a year ago. […]


Loud & Clear

Brokers have welcomed moves in the FSA’s latest MMR paper to ban non-advised sales and demand greater clarity over lenders’ provision of advice to consumers

Frexit & contagion risk in Europe

Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune’s Rob Burnett discusses the likelihood of this happening. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide for future […]


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