Top five articles of the week
1. Unprecedented change comes to conveyancing
2. Banning non-advised sales could “paint industry into corner” – L&G
3. Shapps: Govt. building and MIG scheme plans on track
4. Nationwide raises fixed and tracker rates
5. Spike in number of bank staff stealing from customers
TV campaign
On Monday, Nationwide launched a first-time buyer TV campaign to raise awareness of the products on offer to potential homeowners. It is the first time in five years that the mutual has advertised its mortgages on TV.
New lending
The State Bank of India confirmed plans to start lending UK residential mortgages in August this year. It confirmed its residential offering would go through brokers.
Bleak results
The UK’s second biggest lender, Santander, released its full year results on Tuesday, revealing its share of the mortgage lending market nudged down 0.5% to 17.3% in 2011, while lending dropped 2% on 2010 to £23.7bn.
Making money
With the market predicted to be flat at best in 2012, where are business opportunities for brokers in the next 12 months? SimplyBiz Mortgages, Emba Group and Tenet Lime reveal all.
“Mixed views”
Legal & General’s Stephen Smith this week warned that the FSA’s proposal to end non-advised sales could inadvertently hamper intermediaries and may be addressing the wrong issue.
And finally…top tweets
Rob Jupp
Bank of Ireland offered me £1000 and 1.99% ERC-free deal to clear off and go to First Direct. Being snubbed by the Irish is great!
Andrew Montlake
Nationwide re-price rates with very little notice – an hour – office going crazy…
Stuart Gregory
Reece Witherspoon is on the cover of @GlamourMagUK – you’ll find me mentioned on Page 65…lentunemortgageconsultancy.co.uk #in
Coreco
Transfer deadline day: Rumours that @montysblog was seen outside @JohnCharcol are accurate. But no truth in him joining@melaniebien
Stupid Football
John Terry has been stripped of the England captaincy. He’s now the only person to have been stripped in public more times than Katie Price.
