SVR hike
On Monday, we found out that around 14,000 Bank of Ireland (BoI) mortgage customers are set to face an almost 2% SVR hike when they transfer to The Mortgage Works (TMW), as part of a loan book sell-off.
Balance of power
An Openwork product boss suggested the balance of power in the mortgage industry will eventually shift from lenders back toward distributors, brokers and the end-consumer.
Advice revolution
In this week’s Market Watch, our three experts discuss why online leads the way for the broker business model of the future.
Devil boss
Our exclusive columnist The Insider tells us how things are running in the office following his boss’ return from secondment.
BTL regulation
In Thursday’s poll, 30% of brokers said they think buy-to-let investors would be better protected if the sector was regulated.
90% right
Nationwide has continued its distribution and product evolution drive by extending its 90% loan to value (LTV) mortgages to all homebuyers.
New entrants
Legal & General revealed it is in discussions with six potential new lenders, two of which could enter the market as early as next year.
Holding steady
It is “no longer unreasonable” to think Bank rate could stay at 0.5% until 2014, said a broker, as euro contagion begins to take hold.
Healthy sub-prime
Without the return of a healthy sub-prime sector, we’re not going to get a normal housing market, warned John Wriglesworth.
And finally…top tweets
Dave Camoron
Lloyds Bank turns in a £4bn Loss, shame it paid £7bn in bonuses, it could have made a £3bn profit……………..hear hear
zerohedge
S&P says its downgrade of Greece to CC was a glitch. Country is really AA+, outlook ebullient
Peter Grosz
Silvio Berlusconi is resigning. Presumably to spend more time with his family…’s 18 year old neighbour.
Paul Waugh
Anyone know who first came up with the lovely nickname Merkozy? Probably a British hack
Tomaz Ostir
Papandreou is playing “Who Wants to Be Millionaire?” First he calls Merkozy, than gets 50:50 and now he wants to ask the audience!