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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Santander takeover of RBS branches delayed until 2012
Mortgage Solutions | 26 Apr 2011 | 09:45
Simret Samra
Call me xenophobic but what on earth are we doing transferring these branches to Santander? The lender has the worst complaints record of all the banks and just look at what is happening to the banks in Spain. If it wasn’t for its South American presence, Santander would not even be a contender.
There is also talk of Santander floating its UK arm and we’re giving them the branches to sell. Surely they belong to the UK taxpayer that owns 84% of RBS? Real competition in the banking sector is long overdue and will not be served in any meaningful way by these branch transfers.
Duncan Jones
26 Apr 2011 | 12:12
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ISAs have failed, says think tank
Mortgage Solutions | 26 Apr 2011 | 14:04
Rachel Dalton
The idea of being able to save at a supermarket till is appealing however getting the government to guarantee bonuses is a dangerous game. The reason many low to middle earners are not saving at the moment is because they are up to their eyeballs in debt and don’t have any money to save.
Many will not pay their mortgage or council tax or any other debt before they think about cancelling or downgrading their Sky TV subscription.
David Todd
27 Apr 2011 | 13:49
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Sentance: BoE’s credibility at stake
Mortgage Solutions | 27 Apr 2011 | 09:15
Simret Samra
The key to the issue is Sentance’s statement that the BoE has failed to deal with the problems by increasing rates. The problems that he has identified are global in nature and therefore raising rates would have little or no effect.
The only effect they would have would be to fuel inflation further and depress the value of sterling. The BoE is right to nurture growth; their tools are limited but using an axe at this time would destroy whatever chance the economy has to recover. I hope Sentance’s replacement is more in tune with reality.
Les Whitfield
27 Apr 2011 | 10:12
He is wrong and has been for some time. Global inflation cannot be controlled at a micro level and the MPC have done the right thing in riding out the storm.
Inflation is already starting to come down and rates will remain the same for a while yet, probably to about August when we will get a 25 or even 50 basis point rise. However, I think the MPC will be wary of increasing rates too quickly. Remember, it takes about six months for any rate rise of fall to have an effect.
David
27 Apr 2011 | 14:32
“By adopting a very relaxed monetary policy, the MPC has sent the signal to the private sector that it has been prepared to accommodate price increases as the economy adjusts from recession to recovery.”
I would love a job on the MPC as it seems pretty easy to get it wrong like Andrew Sentance. Companies are still reluctant to pass on price increases. With all the Government cuts, no one has any pricing power. Get real Sentence; we are still in the midst of the worst financial crisis to hit mankind.
John
28 Apr 2011 | 11:42
Aldermore slates NatWest for automating broker enquiries
Mortgage Solutions | 28 Apr 2011 | 08:57
Vicky Hartley
I’ve used the NatWest LiveTALK on a number of occassions and have been always been able to get a very good response from it. It also gives you the ability to print off the conversation in case you have problems when you submit a case. Aldermore should concentrate on its own business instead of wasting time on pointless statements. Carry on the good work NatWest.
TJ
28 Apr 2011 | 09:18
I have noticed over the past 12 months that the policy knowledge of some lender intermediary services is somewhat lacking. Some lenders staff cannot even grasp the complexities of a potential case or even understand mortgage terminology.
It is so much easier for them to refer to a policy Manual rather than learning it off by heart, whereas LiveTALK gives the contact time to reference and refer without the embarrassment of not knowing their own policy.
We as independent brokers have to get to grips with all lenders policies and quirks, jump through their hoops and fit-in with their automated systems at our own expense.
When will they realise the quality of this knowledgeable and compliant distribution arm called intermediaries and start to reward them in the right way? I look forward to the proposed mandatory level 4 mortgage qualification; where will the lenders go then?
Peter
28 Apr 2011 | 09:31
I have been using using LiveTALK for over a year now and so far have been impressed. No more waiting to get through to lenders, no call charges and the facility to have the LiveTALK conversation emailed to you is just great. I think more lenders should take this approach.
Manish Popat
28 Apr 2011 | 10:11
I used both phone service of Aldermore and the LiveTALK of Natwest yesterday. For me the Aldermore service was much better and personal as response times were very quick and the operators were very knowledgeable. They were positive in trying to help me place my business.
NatWest on the other hand were also quick and knowledgeable, but impersonal. The print-out of the conversation was useful. I thought NatWest was working on being better at customer focus. I wish they would work harder on niche product innovation and flexibility which is more important to me than how we communicate.
Chris Ridgeway
28 Apr 2011 | 10:4
Whether LiveTALK, a business development manager or someone on the end of a phone line, the service is only as good as the accuracy of the information given. LiveTALK as a system is acceptable; however, printing or receiving the LiveTALK dialogue by email is not going to have any difference with a lender if the information provided was inaccurate in the first place.
HW
28 Apr 2011 | 10:47
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Have a great weekend
From the Mortgage Solutions team
