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Mortgage Mutterings: The week that was 3 – 6 May 2011

  • 06/05/2011
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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 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.



Bootle: No interest rate rise until 2013; King: Debt ‘massive’ problem

Mortgage Solutions | 03 May 2011 | 08:22


The biggest threat to the UK consumer and economy is not low interest rates or another asset bubble, it is the lack of time given to consumers to deleverage. It is disheartening to see King looking to consumers as the way out of the sluggish growth problem. In itself, the sentiment of no significant percentage rises to 2013 allows those people with big debts some time to pay it down. This in turn reduces default and further stress on the banking system. Well done Mervyn and thanks for the clarity.

Chris Ridgeway

03 May 2011 | 10:22

We need low rates for as long as possible so that we can get as many people out of negative equity or a high loan-to-value situation. If people in that position lose their work due to government cutbacks, it creates a lethal cocktail for both personal finances and lender profitability.


03 May 2011 | 12:36

This is the best news on interest rates for a long time. I don’t know what planet Andrew Sentance has been on, but it isn’t ours. So many borrowers in negative equity or high LTV would be in a hopeless position and would need time to reduce debt. I don’t have any sympathy for retired pensioners losing out on savings. If they have savings, they are likely to be the pensioners who retired with Final Salary pensions or annuity rates at 10%. They are the lucky ones. We borrowers need help more.

Dave Evans

03 May 2011  15:26


Nationwide offers 95% LTV FTB saver mortgage

Mortgage Solutions

04 May 2011 | 11:28

Simret Samra

I got really excited then saw its “direct only”. I thought Nationwide supported brokers or am I being negative?

Adrian Mcclaren

04 May 2011 | 15:21


Imagine a world where we just get on with business

Mortgage Solutions

06 May 2011 | 11:19

Stephen Smith

It would be wonderful if the FSA said that. I feel that the country has been left bankrupt – where have the FSA been for the last ten years? It is very good at banning people and imposing fines on them, but it’s not fit for any thing else.

Richard Lyons

06 May 2011 | 12:39

I could not agree more with Stephen’s views. Having joined the financial services industry in 1978 for several years, I really enjoyed a happy early career. When the MCCB was proposed, I was cautiously pleased as it meant the scalliwags would be put out of business, but could also have meant excessive interference with legitimate business too.

Thankfully, my experience of self-government was pleasant: I could not see, and still can’t find the need, for the gluttonous dinosaur we call the FSA. When I joined the industry I believe there was something in excess of 250,000 advisers. Following the FSA, the number of advisers has dwindled by 90% and industry pundits would have us believe yet more reductions are on the way. With 60+ million people in the UK, who will provide the necessary advice?

Unfortunately, I see a future when the general public will be calling on State Benefits more often because they were not educated to look after themselves by sufficient numbers of qualified, enthusiastic financial professionals. I sincerely hope that my prophecy does not come to pass.

John Grant

06 May 2011 | 12:49


Have a great weekend

From the Mortgage Solutions team


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