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Your Views

Will the Autumn Statement give us a housing policy that is worth having?

Lenders and brokers alike have been expressing their frustration at the lack of direction in government housing policy…

The lack of a clear, structured housing policy has been an elephant in the room for some time. Successive administrations have made pledges to change this but it’s never been followed through with any comprehensive long-term policy.

Initiatives and schemes have stimulated bursts of activity and the mortgage market itself has adapted to evolving consumer needs. However, until such fundamental issues as the continued under-supply of housing, the backlog of unmet demand and the role of different tenures are properly addressed, the same issues will crop up time and again.

Responsibility doesn’t lie just with the housing minister, though, and it would be good to see the chancellor address the housing supply issue further in his forthcoming Autumn Statement. We would also like him to delay or reverse the tax relief changes, which will impact on the rental market and the capacity of that sector to provide homes for those who can’t get into homeownership. However, our member survey shows lenders aren’t too optimistic that this will happen.

Increased regulation since the financial crisis has been a necessary step to keep the mortgage market on an even keel. We have come a long way in the 12 years since formal regulation was introduced but the process of bringing in more controls continues. It is time to draw this to a close and ask whether regulation has become overbearing and is starting to stifle innovation.

The FCA’s upcoming competition review provides an appropriate opportunity for reflection.

Peter Williams, Intermediary Mortgage Lenders Association

Plan for DA club blurs the line between clubs and networks

Readers have been sharing their views on London Money director Martin Stewart’s plan to launch a not-for-profit mortgage club…

There is a fine line between mortgage clubs and mortgage networks and I feel it is getting confused here.

My reading of the plan is for a DA club to be created purely to enable mortgage business to be transacted at better proc fee and deal rates than currently available to each DA on their own.

The ‘share of proc fee’ argument seems to be levelled at the network model rather than the club model and, speaking as a network member, I have to say the choice is not based solely around monthly costs or shares of fees.

There is a much bigger programme of benefits within the network model than in the DA model – but that’s just my view.

Chris Hulme, Clayton Hulme

Hammond won’t rethink taxation for landlords clinging to lower profits

The National Landlords Association has launched a postcard campaign in its ongoing drive to get the chancellor to reverse tax changes on buy-to-let properties. But not everyone is supportive…

Tax is only on profits so this idea that rents have to rise is not to cover the tax increases but rather to preserve landlord profits.

It’s getting colder but Hell will freeze over before a chancellor rethinks taxation because one small group is gripping incoherently to diminishing profits. This was the reason for the tax change in the first place.

Steven Balmer, Mortgage & Insurance Centre



Housing costs to be included in headline rate of inflation

The Office for National Statistics is to include housing costs in its headline measure of inflation from March next year. Following a consultation, the ONS has decided to switch its preferred measure of inflation from the consumer price index (CPI) to the consumer price index including owner occupier’s housing costs (CPIH) from March. The measure […]


V Loans exits second charge and bridging market

Specialist master broker V Loans has announced its intention to close the business after seeing the second charge market “undergo a significant transition” following MCD. V Loans is an appointed representative of Key Retirement Solutions and was founded by Marie Grundy and Dave Pinnington in 2007, operating in the second charge and bridging markets. Managing […]


Buy-to-Let Watch: Let’s get ahead of ourselves

Preparations to meet the PRA’s new rules on underwriting must begin now – not once those new standards are in place There is a great deal of speculation at the moment around what Chancellor Philip Hammond’s first Autumn Statement might hold for landlords. One talking point is the unlikely reversal of the pending changes to […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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