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MS TV: BSA in funding talks with local authorities

Adrian Coles, director-general of the Building Societies Association, has revealed he has approached several local authorities about the possibility of helping to plug the funding gap for mutuals.

Speaking to MS TV from the BSA annual conference in Manchester, Coles says that the recent succession of mergers in the building society sector has resulted in fewer mutuals but stronger societies too.

He says that investors should not see the building society sector as something to fear, which may have been the case in the past.

Coles also discusses the funding challenges faced by mutuals, and talks about the “haywire order” of the Financial Service Authority’s plan to extend the approved persons regime to mortgage brokers.



Paragon poised to return as B2L prospects pick up

Brokers are becoming more optimistic about the buy-to-let sector as product numbers increase and Paragon Group has signalled its intention to re-enter the market. Figures from Moneyfacts. show that the number of buy-to-let mortgages has grown 70% since the market’s lowest point in September 2009, with the number of products going from 179 to […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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