You can take another look at the week’s news and we’ll round up the most thought-provoking or unmissable comments posted after stories or letters sent straight through to the editor.
Comment any time on the Mortgage Solutions website and you could feature in next week’s Mortgage Mutterings.
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Mortgage broker sues FSA in £1.67m libel case
Mortgage Solutions | 31 Jan 2011 | 08:39
IFAonline
Are you joking?
This is a complete waste of money. What is the broker on about? It is not a surprise to any broker worth their salt that there are fees to pay the FSA every year and if you don’t pay them you are struck off. The only winners are going to be the solicitors and barristers.
John Reid
31 Jan 2011 | 09:19
FSA above the Law?
“In its defence filing, the FSA argues his claim should ‘be struck out as an abuse of process’ as he is seeking an adjudication on the FSA’s legally-backed decision.” Someone should remind the FSA that our legal system also has a right of appeal, and why should their “legally backed decision” be any different?
H Wood
31 Jan 2011 | 11:49
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Which? Mortgage Advisers: Saints or sinners?
Mortgage Solutions | 01 Feb 2011 | 15:36
Kay McLellan
What happens to enquiries they end up not dealing with please?
I thought I read that they get sent to Unbiased. If so…. why to Unbiased and how can this actually be unbiased since Unbiased have competitors – so are Which? saying Unbiased are better than their competitors. Sounds a bit biased to me.
The whole idea of a supposed impartial body setting this up just ‘feels’ fundamentally wrong. How can anyone believe that they will be able to critique themselves in an unbiased way?
It feels like what they done is to carelessly seize an opportunity to make money by further hindering and potentially destroying the livelihoods of the real independent advice community who frankly do not deserve this and who already have more than enough problems to cope with. If Which? are truly unbiased, they will need to think of a way ahead that feeds fairly into the existing advice structure – not destroy it.
Donna Hopton
01 Feb 2011 | 16:52
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Emergency housing summit – the industry wish list
Mortgage Solutions | 02 Feb 2011 | 13:26
Mortgage Solutions
Emergency Summit
It is essential that both the government and lenders understand that there are excellent, quality applicants wanting to get on to the housing ladder but can’t due to the level of deposits required. Quirky one-off schemes such as arrangements with builders will simply not work.
Those lenders that made mistakes have either already expired or have amended their lending strategies, but they need to know that the horse bolted a long time ago, the stable door needs to be opened once again and they need to start lending again.
I only hope that mortgage intermediary representation is allowed to attend this summit.
Tim Robinson
02 Feb 2011 | 14:15
AMI rebukes FSA over fees claim
Mortgage Solutions | 02 Feb 2011 | 08:47
Kay McLellan
AMI rebukes FSA
Ah, but, did the MCCB award itself massive bonuses, have great Christmas parties, and pay exhorbitant salaries and final salary pensions? And did the MCCB live on the planet Zog?
Bill Wells
02 Feb 2011 | 11:01
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Advisers at risk after trade body mix-up on CI guides
Mortgage Solutions | 02 Feb 2011 | 11:02
Cover
Important
This is a really important issue and advisers will be interested to hear that a new adviser site, Criticalillnessinsider.com, is being launched shortly. This will assist advisers in selecting the right company for the right reasons and will avoid future attention from the regulator
Alan Lakey
02 Feb 2011 | 13:30
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Services rebound raises interest rate rethink
Mortgage Solutions | 04 Feb 2011 | 08:21
Mortgage Solutions
I don’t think higher interest rates will stop this sort of inflation. High interest rates stop the sort of inflation which arises when money is being created in confident times by everyone borrowing. This sort of inflation is created by high petrol prices and high food prices, which interest rates will do nothing to help.The effect of high interest rates in the early 80s was disastrous but was forgotten as North Sea Oil paid for dole queues and the Falklands factor saved an unpopular Government.
We already have plenty of demand dampers in this economy. However, that is not to say that rates won’t rise in just the same way as they did in the late 70s/early 80s.
The only two benefits I can see to raising interest rates is 1) it will increase sterling’s value which will make imports like petrol cheaper and 2) it will put more money in saver’s pockets.
There are more savers than borrowers but putting more money in their pockets would be inflationary anyway although I think people are unlikely to have the confidence to spend it at present.
I’ve pretty well given up the idea of having a Government we can be proud of. Until we get politicians who do proper jobs and know something of the real world first, there is no hope of that.
Des Platt
04 Feb 2011 | 11:21
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Have a great weekend,
From the Mortgage Solutions team
