Here we round up the most thought-provoking or unmissable reader comments posted after stories and letters sent straight through to the editor.
Remember, we pick the best reader comment each week, so scroll down to the bottom to find out if your comment was our top pick last week.
Mortgage Solutions | 13 Sep 2011 | 09:37
Sounds great, send me an application.
13 Sep 2011 | 11:31
The job advert appears under the heading ‘Contributing to Financial Stability’. The only stability we will see is in the pocket of whoever is appointed.
13 Sep 2011 | 16:39
Mortgage Solutions | 13 Sep 2011 | 14:28
Wow, at last an economist with vision and pragmatism. What a terrific idea to create a ‘public bank’. Can I add a little extra to the proposal? Please ensure the big lenders are banned from ever again getting involved with SMEs. They treat their small business customers like fodder and don’t deserve the profit centre we can create. Well done Adam.
13 Sep 2011 | 17:42
Mortgage Solutions | 14 Sep 2011 | 09:08
Perhaps I’m being very naive here but if architects have a responsibility for ensuring that building plans meet certain minimum criteria than who are they complaining about? Is it builders for not building to the approved plans, local authority planning departments for signing off properties which don’t meet the minimum criteria or their own membership for supervising the construction of such properties?
14 Sep 2011 | 10:27
Mortgage Solutions | 15 Sep 2011 | 09:02
C’mon guys – it’s not the interest rate that’s the problem, it’s finding a 10% to 15% deposit and not being able to have an interest-only mortgage option above 75% LTV – that’s the real issue. Thank goodness that the buy-to-let market is buoyant and will remain so while buyers are trapped with two options; live with your parents for as long as possible, or rent.
15 Sep 2011 | 09:35
It’s not rates that are the issue. Lenders must try to compete on criteria and firm up policy that changes constantly at the whim of an untrained underwriter or case processor.
15 Sep 2011 | 10:13
Mortgage Solutions | 15 Sep 2011 | 15:52
I echo the comments from David that first-time buyer clients do not feel they’re getting a decent deal with fixed rates and the margins charged at 90% LTV and above.
As a result, I’m finding that most of my clients are working hard on getting a 15% deposit together and delaying their purchases.
15 Sep 2011 | 16:18
It’s probably because 77% of brokers haven’t got decent access to 95%+ funds!
15 Sep 2011 | 16:19
Mortgage Solutions | 16 Sep 2011 | 09:27
I always thought that the FOS were a force for good, but I am wondering if they may be just a self-serving organisation and I would be interested to know what the figures are on mortgage complaints. My firm has recently had four complaints, at least three of which were certainly frivolous and vexatious.
16 Sep 2011 | 12:20
This week’s star letter comes from Chris Ridgeway who tells us why he thinks consumers suffer if lenders refuse to work with advisers.
The statistics can’t lie, the public prefer to use their bank to arrange their mortgage loans more than they call upon an intermediary. But that is no reason for intermediaries to just lie down and believe that they’re best placed to help only non-mainstream, complex prime customers.
Financial advisers that are tied to one lender and insurer surely cannot be seen as a good choice for borrowers? Remember PPI? I would argue we are not just niche players, because we’re capable of providing technical advice and ensuring borrowers get best value for money – which is more than bank financial advisers can provide. I also advocate that we brokers understand lending criteria better than them.
13 Sep 2011 | 17:32
Thank you for your comments
From the Mortgage Solutions team