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Mortgage market review
AMI splits from AIFA: The industry reaction
Earlier this morning the Association of Mortgage Intermediaries (AMI) announced a split from its sister body the Association of Independent Financial Advisers (AIFA) to become a separate, independent organisation, headed up by Robert Sinclair.
The AMI interview: Robert Sinclair
Yesterday, the AIFA board formally agreed to allow AMI to split off away from sister trade body AIFA with immediate effect.
Exclusive: Santander drops interest-only LTV to 50%
Santander is reducing the maximum Loan to Value on its interest-only residential deals to 50% from Friday.
Other Mortgage market review articles
LTV caps could "unsettle" homebuyers
Draft proposals to cap mortgage loan to values (LTVs) to stave off over-inflated house price rises could put off homebuyers and first-time buyers in particular, said Karen Barrett, chief executive of unbiased.co.uk.
United Trust Bank welcomes MMR approach to bridging loans
United Trust Bank has echoed the generally favourable response from the short term bridging sector to the FSA’s latest Mortgage Market Review (MMR).
When is a consultation not a consultation?
With the latest Mortgage Market Review consultation out just before Christmas and a raft of proposed new measures, it got me thinking, just when is a consultation not a consultation?
Banning non-advised sales could “paint industry into corner” - L&G
Legal & General’s director of housing, Stephen Smith, warned the FSA’s proposal to end non-advised sales could inadvertently hamper intermediaries and may be addressing the wrong issue.
53% of brokers unable to help adverse credit borrowers
The MMR could make it increasingly difficult for borrowers with adverse credit to remortgage, after 53% of brokers said they didn't place a single adverse client last year, research has found.
MMR: Transitional arrangements will fail non-standard borrowers
Over a third of non-conforming borrowers are currently in arrears, so would fail to qualify for a mortgage under the FSA's proposed transitional arrangements, according to Moody's January Credit Insight report.
MS poll: Is adverse credit still the great taboo?
Moody's has warned that the MMR could make it increasingly difficult for borrowers with adverse credit to remortgage.
MMR stress test proposals could make placing cases tougher for advisers
The affordability assessment in the Mortgage Market Review could make it harder for advisers to work out where to successfully place mortgage cases with an undisclosed interest rate risk assessment on every mortgage case, said L&G.
Why the FSA is right to treat high-net-worth clients differently
Hugh Wade-Jones, director of Enness Private Clients, argues that responsible lending is about doing the right thing for the customer, making the FSA's decision to exempt high-net-worth clients from standard lending rules in the MMR entirely appropriate.
Rear View: The highlights of last week’s mortgage coverage
In case you missed anything, here is a rundown of the biggest stories from last week.
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Reasons to be Cheerful
There is good news...
It's not all doom and gloom out there in the mortgage industry, so click here for a dose of cheer.
Watchdog raps property website for “misleading” claims
FTBs rushing to buy before Stamp Duty break ends
Maturing times: The mortgage market hits puberty
Slow PPI redress an “open goal” for claims firms, warns Which?
Barclays mortgage complaints fall by a quarter