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Mortgage Mutterings: The week that was 21 – 25 March 2011

by: Mortgage Solutions
  • 25/03/2011
  • 0
This is the Mortgage Solutions weekly talk back page. Here, we pick the best online comments and letters to the editor on the big stories of the week to give you a flavour of what the industry is really thinking.

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.


Budget 2011: Planning changes could boost property market
Mortgage Solutions | 21 Mar 2011 | 08:55
Mortgage Solutions

Public House
As a pub landlord for fifteen years we put our pub on the market. It has been on for over six months – no viewings. We dropped the price twice in a village which has five pubs and a social centre to be told by local council they will not look at change of use for a year. I hope this brings some sense to the market and for all people who have a opinion about village pubs closing, buy one and try to make it pay.

Chris Bennett
21 Mar 2011 | 10:10

Mortgage lenders attacked over pensions penalty
Mortgage Solutions | 21 Mar 2011 | 09:02

SAGA don’t shoot the messenger
Maybe SAGA ought to be targeting their anger at the rule makers; lenders are being prudent!

Chris Ridgeway
21 Mar 2011 | 10:12

Lenders attacked over pensions penalty
I totally agree that the income multiple stance is virtually dead in the water so affordability must be assessed via lenders own calculators. The issue we now have is that historically, we would deduct known commitments, such as loan and credit card payments from income to reach a lending figure. If they are now going to take into account discretionary expenditure such as pension payments then BIG BROTHER is well and truly here. I will be ensuring that I cancel my regular ISA savings plan, gym membership, Sky, Mobile phone contract, pet insurance & charity direct debits before applying for a mortgage in this post MMR Brave New World.

John Morgan
21 Mar 2011 | 10:42


Mortgage Brain calls off Trigold buy up
Mortgage Solutions | 22 Mar 2011 | 12:43
Mortgage Solutions

Good decision Mortgage Brain
When Mortgage Brain offered to purchase TrigoldCrystal it was an admirable move that would have saved jobs and provided an outlet to brokers who are using Trigold. No doubt there were cost savings that MB had identified that meant that Trigold could be absorbed and they could still make a profit. Then regulation of the market gets in the way – the costs of purchase go up – and they decide to withdraw from the transaction. Good for them. “Those who can do – those who can’t regulate”

22 Mar 2011 | 13:44

Why are there so many unintended consequences?
Regulators win, the markets and customers lose, no change there then; welcome to Britain 2011. I feel very sorry for Trigold and its staff.
Chris Ridgeway
22 Mar 2011 | 15:51


Budget 2011: £250m scheme to help first-time buyers
Mortgage Solutions | 23 Mar 2011 | 09:29
Simret Samra

Help first-time buyers
I hope somebody has remembered to discuss this with the lenders as they don’t like lending on new-builds, especially flats.
23 Mar 2011 | 10:03

Help for FTBs
Why only new builds? – What good will that do other than help developers get rid of their overpriced, unwanted, stock of new builds? That won’t help the market or all those professionals likely to lose their jobs! Anyone ever seen the film “Dave” (about a lookalike who takes the place of an American President). I don’t look anything like Cameron or Clegg but I’m 100% sure I could do a better job than all of them!
23 Mar 2011 | 10:18

Help first-time buyers

This does not work in long term only focused on new-builds. The reason is that this does not create second-time buyers as they are stuck in their existing property. In order for this to work, it has to be for first time buyers of any property otherwise every first-time buyer will be living in a flat that will never be sold.

Robert Lundon
23 Mar 2011 | 10:53


FirstBuy Direct: For and Against
Mortgage Solutions | 24 Mar 2011 | 10:18
Richard Sexton and Mark Blackwell

FirstBuy Direct

The scheme is welcomed, however there maybe the same reluctance as for Homebuy Direct from the lenders to commit to the scheme. Perhaps the Government could put some pressure on a few to get things moving?

Jackie Fullarton
24 Mar 2011 | 10:53


Early interest rate rise less likely after Budget

Mortgage Solutions | 25 Mar 2011 | 09:27
Vicky Hartley

Early interest rate rise less likely

I agree with the pundits but there is the additional factor of increasing worldwide unrest. This could have further adverse impacts on commodity prices. Any early rate rise could reverse the current weak growth trends. We must focus on stimulating the housing market rather than worrying too much about an increasing remortgage market.
Charles Haresnape
25 Mar 2011 | 10:30

Why would anyone raise rates right now?

You raise interest rates to curb borrowing at a time when the cost of money is causing a rise in the price of goods and services. There is no evidence that borrowing is increasing (far to the contrary looking at the current mortgage market) and causing inflationary pressures. We simply have to adjust to increased costs for fuel and other essentials. Austerity comes in many forms!

25 Mar 2011 | 11:02


Have a great weekend

From the Mortgage Solutions team

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