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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Inflation expected to top 4%
Mortgage Solutions | 14 Feb 2011 | 09:54
Mortgage Solutions
The Bank of England MPC remain stuck between a rock and a hard place because certain inflationary factors remain completely beyond their control and any alteration of the UK Base Rate will have no effect on them whatsoever i.e. fuel and commodity prices. Every one us needs to eat and I would suggest that all foodstuffs are transported on some part of the journey to the shops in a vehicle requiring fuel. In my opinion all an interest rate rise will do is shrink spending in the high street as UK public tighten their belts still further.
John Morgan
14 Feb 2011 | 10:20
UK inflation climbs to 4%
Mortgage Solutions | 15 Feb 2011 | 10:23
IFAonline
Claptrap and manipulation. This is the diddled CPI figure. What counts for most people is RPI and that is almost 5%. As ever the PR man and the wallpaper hanger are out to mislead you.
Harry Katz
15 Feb 2011 | 17:22
Taylor Wimpey offers 95% LTV first-time buyer deal
Mortgage Solutions | 15 Feb 2011 | 13:36
Simret Samra
This is good news for first-time buyers and perhaps it will shake up the mainstream lenders to realise that first-time buyers are not necessarily high risk because of a lower equity stake.
Denis G
15 Feb 2011 | 14:00
First-time buyers on higher LTV deals are still a risky mix and some might argue a risk too far. Still, we really must take every chance to have a dig at those irresponsible banks who treat honest hard-working brokers so unfairly.
Michael
15 Feb 2011 | 14:11
This is good news but I don’t believe that you are spot on Michael. If we as brokers and advisers adhere to the strict rules of honesty, due diligence and prudence, we would be key contributors to responsible lending. After all what is risk management? With the nasty experiences we’ve had in the past few years, if by now we haven’t learnt any lessons, then maybe we should get out of the industry altogether.
Larry
15 Feb 2011 | 16:58
FSA: Protection will be hit by Euro gender ruling
Mortgage Solutions | 16 Feb 2011 | 16:18
Cover
The sheer insanity of many of the European Union’s ‘rules’ leave me totally confused. Mortgage lenders are supposed to price for risk and ensure that they have appropriate reserves for the classes of business they wish to write. This seems, on the face of it, to be sensible. On the other hand, insurers that have always priced for risk, are now to be told they must not do this. Can someone explain the logic of this and where it will all end?
Taken to its absurd limits, insurers will be allowed to offer only one premium for a specific type of policy, irrespective of the insured’s background, gender, age, family history, current health, etc. I have no confidence that we won’t actually be driven down this road or that the FSA won’t gold plate this ‘initiative’.
Les Whitfield
16 Feb 2011 | 18:02
First-time buyers need £31k deposit
Mortgage Solutions | 16 Feb 2011 | 09:17
IFAonline
I am getting cheesed off with reports in the press, on TV and other media talking about high deposits needed. This is giving the public the general idea that they cannot afford a high deposit so do not even bother asking. Lots of lenders now do 10% deposits with no catches. Enough do guarantors (Well done The Mortgage Works for its new innovative guarantor version). We just need someone, somewhere to start a public awareness campaign and maybe then these non-starters will start contacting us brokers and getting on the ladder while prices are still comparatively low.
Brian Melling
16 Feb 2011 | 10:26
Hoban vows FSA successor can ban products
Mortgage Solutions | 17 Feb 2011 | 09:01
IFAonline
This is excellent news. I have thought of this for over 20 years and think it should be rolled out into financial services in general. If all the products were vetted before entering the market then this would cement initiatives of treating customers fairly to protect even more consumers.
Kevin Fletcher
17 Feb 2011 | 10:05
The ability to move pre-emptively will need to be carefully scrutinised, otherwise there could be reputational damage that will see firms seeking to claim against the regulator for compensation.
Duncan Jones
17 Feb 2011 | 11:05
Sants: Not our job to reveal bank pay deals
Mortgage Solutions | 17 Feb 2011 | 09:05
IFAonline
It’s interesting that Sants reacts to what the banks ‘want to disclose’ and assures them that he will only reveal what they are happy for him to. I think that we should know what high earners are paid for taking the country into near bankruptcy. It is said that to retain these ‘high calibre’ people, large salaries and bonuses must be paid or they will go elsewhere. Who gives multi million pay deals to incompetents? I’m sure that there are excellent individuals who would work and do better jobs for £100 – £150k.
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Concerned
17 Feb 2011 | 14:42
Estate agent jailed for £69,000 fraud
Mortgage Solutions | 17 Feb 2011 | 10:46
Kay McLellan
He’s a man of ‘good character’ from a ‘good background.’ I wonder what he would have said to defend Hitler had he survived to appear at Nuremberg? What English hogwash.
Greg Thomas
17 Feb 2011 | 20:48
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Have a great weekend.
The Mortgage Solutions team
