You can take another look at this 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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Conveyancer culls ‘will rise without mortgage fraud intervention’
Mortgage Solutions | 18 Apr 2011 | 15:40
Kay McLellan
So it would seem that esteemed members of the law society are not as esteemed as we thought. During the boom years I was amazed how cavalier lenders and conveyancers were in checking matters including title and preferring to take out indemnity cover than doing things properly.
The obsession with ’48 hour’ turnaround was indicative of what went wrong. The days of small legal firms doing conveyancing must be numbered as the risk they pose is too great. The longer the recovery takes in the property market the more examples of fraud that will be uncovered.
Duncan Jones
18 Apr 2011 | 19:15
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CBI: UK growth blighted by 50% tax and Nigeria-style regulation
Mortgage Solutions | 19 Apr 2011 | 08:46
IFAonline
Regulatory burden is a key ‘investment blocker’ according to the report, which cites the World Economic Forum as ranking the UK 89th out of 139 for having the biggest regulatory burden on business, on par with Nigeria. Wow, that is seriously scary stuff. If ever there was a more chilling warning caused to the UK by the over enthusiastic bureaucratic agencies, it is in these few lines.
Chris Ridgeway
19 Apr 2011 | 11:59
If you look at the number of reported frauds over the past two and a half years, tot up the values, extrapolate for those which have still not been discovered or reported and then extrapolate again for the whole of Europe and the US. Then you’ll begin to understand why we’re in the mess we’re in.
Sure the banks take some responsibility, but they have become a convenient scapegoat. What about all the mortgage advisers worldwide and the regulators sleeping while mayhem was wrought? And why was it wrought?
Because of politicians’ misguided sense of social justice. What’s the moral of the story?
1) Regulators must ensure that those who deal in money matters are trustworthy
2) You don’t lend to people without money
3) You can’t build an economy on debt Will the lesson be learnt? Doubtful.
Harry Katz
19 Apr 2011 | 12:08
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Have a great weekend
From the Mortgage Solutions team
