Tenet boss fires back at slurs and rival networks
Mortgage Solutions | 27 Jan 2012 | 08:20
Rahul Odedra
I am directly authorised and have no financial connection with Tenet, but I once worked for a firm that used their compliance services and I found them excellent. Tenet was run well by Simon Hudson and I would say that Martin Greenwood, who I have known many years, is a superb leader for any firm.
Neil F Liversidge
27 Jan 2012 | 09:40
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Homeownership: the preserve of the rich?
Mortgage Solutions | 25 Jan 2012 | 14:52
Mortgage Solutions
It feels like we are going through a sustained period of painful readjustment with no end in sight. But these things have a funny habit of correcting themselves at some point. The market is cyclical and will correct itself in time. It is clear that lower to middle income households (LMIs) will struggle to get on the housing ladder for the foreseeable future. But pain isn’t simply the domain of LMIs.
There are another set of interesting implications that come out of the current analysis. It’s that rental incomes have steadily risen in recent times fuelling the buy-to-let market and increasing capacity in the private rental sector. But economically that will have to stop soon because the LMIs that can’t afford to buy will also struggle to rent. What impact will that have on the growth of buy-to-let capacity in the private rental sector?
In addition, the UK pension market is predicated on home ownership. If the market moves, structurally, to a greater proportion of long term renters (where you continue to pay at the same level in perpetuity) that will only serve to drive an even greater crisis for LMIs in the future.
Tim Hague
26 Jan 2012 | 09:06
Y3S places life subsidiary into liquidation owing £191,000
Mortgage Solutions | 24 Jan 2012 | 17:32
Kay McLellan
I don’t see what the problem is. They couldn’t pay their creditors, the business is insolvent, they liquidated. It happens all the time. If the creditors take a hit then so be it. HMRC will be there £92,000 short or not, and so what if the insurance companies take a hit? Other creditors have the same option as Y3S if the going gets too tough.
Robert Key
26 Jan 2012 | 14:01
No income tax, no VAT
No Money for HMRC
Black or white, rich or poor?
Y3S is so damned flawed.
Long live Miloan app
Viva Miloan app, long live Miloan app
C’est magnifique Miloan app
Magnifique it’s all crap.
Del Boy
25 Jan 2012 | 17:14
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One to One – AFI’s five year plan for buy-to-let
Mortgage Solutions | 24 Jan 2012 | 09:51
Vicky Hartley
I can’t see why the broker would want to do any non mortgage business with these guys until Santander improves its retention strategy in line with our other intermediary partners.
Like the general insurance market, for which independence is recommended for quality of advice and product, the only likely candidates are the brokers struggling to make a living from mortgage and protection business to increase their income.
Michael Rogerson
24 Jan 2012 | 20:05
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MS poll: Is adverse credit still the great taboo?
Letter to the editor:
Hi Vicky
Rather a leading headline. When wasn’t it a taboo? Yes in the Blair years it was made easier to default on loans and a bankrupt could be discharged a week in Wednesday. Perhaps that was just one of the causes for the current financial plight. That it was ever considered anything other than a bad stain just demonstrates the decline in standards.
Sure they may be some particular unfortunate cases, but insolvency was never something to be proud of. The questionnaire was also misleading. How many cases to you fail to place as a result of adverse credit?
Well for many of us we wouldn’t touch any loan unless it was prime. There is the old adage – ‘when you are in a hole – stop digging’. If someone has a poor record why waltz them into a situation that will probably be just as bad?
Yes, I know loan consolidation is popular, but with a mortgage you are in debt for a lot longer and will no doubt be encouraged to splurge again once you cash flow has been even slightly improved. It is very hard to retrain a financial hooligan – and why bother? We are not social workers.
Kind regards
Harry Katz
Northwest Consultants
I can’t agree with Harry’s comment. There is a wide range of circumstances which can be defined as adverse credit and the purpose of the loan must be considered. Just because someone can’t borrow at a prime mortgage rate doesn’t mean that they shouldn’t borrow. Whether the rate available was 14% or 40% I would want my broker to tell me what was available so I could make an informed choice.
My company is a secured loan master broker and a high percentage of the enquiries we receive from mortgage brokers have a degree of adverse credit. I should add that secured loans are available up 75% LTV with high levels adverse credit, including self-employed borrowers, so brokers should not automatically decline clients who wish to raise capital but have bad credit.
Steve Walker
26 Jan 2012 | 17:28
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Thank you for all your comments
From the Mortgage Solutions team
