We may be fast approaching the so-called ‘silly season' but lenders have been showing us they mean business this month with a series of criteria and product changes.
When it comes to mortgage sourcing, there's accuracy, and then there's accuracy. A recent survey suggested that 94% of brokers rated accuracy as the single most important factor when assessing a sourcing system.
With building technologies continuing to develop to meet issues of both sustainability and profitability, our views of what constitutes a good lending risk are being constantly challenged.
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The good thing about launching a new business is that no one gets injured. At no time is anyone in danger from anything other than severe ‘sense of humour failure’ caused by the laws of sod (I’m told that’s how I appear these days).
In my view there are two main reasons why brokers don't get involved with GI. The first is that it seems too complex an area as a result of the different products and criteria they'd have to get to grips with.
It was interesting to read the thoughts of the FCA's Lynda Blackwell on lender risk recently.
For those advisers who were perhaps contemplating an upturn in remortgage business following an ‘inevitable' Base Rate rise in 2015, the mood music has gone somewhat off-key in recent weeks.
So I'm guessing this is what it feels like to be punch drunk? I believe a week has gone past since I last wrote this diary piece but in the world I currently inhabit this could be a fortnight or yesterday.
New homes are a key focus for the government - and should be for brokers too.
What would happen if crowdfunding cash was invested in buy-to-let? The Royal Institution of Chartered Surveyors (RICS) recently published a discussion paper on crowdfunding to 'highlight the possibility that this sector, rather than the banking system, may well be the source of the next liquidity shock to the housing market'.
How did I end up in what feels like an episode of Dr Who?
The recent release of the Equity Release Council's Market Monitor had some interesting statistics and figures and it's encouraging to see that lending is up 12% over the last year and even more interesting was the reference to house price inflation helping to mitigate the roll up of interest on a lifetime mortgage.
I see that some commentators are already ‘calling' the remortgage market for 2015 - and the overriding consensus appears to be it will stay at present levels for some time to come.
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