You are here: Home - Your Community - Marketwatch -

Market watch

by:
  • 04/12/2001
  • 0
As integration with Europe continues is the development of cross-border lending likely?

Steve Haggerty, Homeloan Management

There will be an upturn on cross-border lending ‘ in fact it is already happening with more lenders entering the market. But there are still big barriers in terms of legal systems, product structure and tax regimes to overcome. At the moment, UK interest rates are lower than those in Europe, so there would not be an adverse effect on UK lending if it does takes off.

Mike McDonald, Bank of Scotland

There are legislative barriers which affect cross-border trading so we are unlikely to see it in the immediate future. However, this could change with the introduction of the euro early next year. If cross-border trading is introduced it would affect the UK market and it opens up not only mortgages, but other financial products as well.

Martin Allton, Clydesdale and Yorkshire

Looking at how Scotland and England currently work, English solicitors cannot work in Scotland due to the different legal systems, which could be similar for Europe. It would give an opportunity for banks to explore areas outside their usual markets but I am not sure how legalities would work. Banks also will not have the expertise of lending overseas.

John Heron, Paragon

I think it is inevitable with the integration of a common European currency that you will see the development of cross-border financial services, right across the board. The difference for the UK is that it is outside that market, so the degree it will impact on us is not immediately clear. There is a danger that we will get left behind in the game.


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
My client is about to move abroad and wishes to rent their house out. Do any lenders lend to people in this situation?

Obtaining a mortgage for a property to be let is no longer difficult as most lenders have suitable p...

Close