Manchester Expo: UK lenders must “be braver”
As a mortgage broker and an owner of an estate agents in a small valleys town in South Wales, the return of 100% mtgs would see a huge increase in sales of properties in the area. Bearing in mind that the average two bed terrace costs £70k and that the majority of first time buyers are renting and paying higher monthly rentals than the monthly cost of the mortgage.
The main problem is that these first time buyers do not have a deposit so 100% mtgs would be perfect, as they were 3 or so years ago. Lenders need to stop basing their lending decisions on the security and use affordability.
Greg Roberts
23 May 2012 | 13:10
Only 400 homes reserved through NewBuy scheme
Yet another Government incentive that is over-burdened with red tape, and wasting tax payers money – as normal! Why don’t they take proper advice before dreaming up these schemes?
Kevin Sewell
21 May 2012 | 16:26
More networks contemplate Abbey fast-track exit
Having swerved the Honey Trap from the FIRST minute that Abbey for “Intermediaries” set it up (about 12 months ago when they announced they’d be checking cases post completion) I think it’s a shame the Networks have taken so long to see what their “strategic partner” has been up to.
Kevin Fowler
21 May 2012 | 19:13
Don’t blame MMR for tight lending – FSA
It is evident that some lenders are looking at MMR as an opportunity to clear out their higher risk lending book. Halifax as of the 28th May is forcing existing borrowers to provide evidence of a repayment vehicle on their current interest only mortgage when applying for a further advance but ironically, they are happy to lock borrowers in for several more years on a product transfer.
I cannot see the logic of keeping a borrower on interest only locked into an early repayment charge when they make it harder and harder for any adjustment to the loan. Crisis management from Halifax who have moved from a market leading mortgage business to second rate product transfer company. At least their latest decision may help brokers in the secured loan arena.
Pointed
24 May 2012 | 11:41
Adviser jailed for £250k fraud and perverting course of justice
On the basis that such stories appear regularly perhaps it is not just a tiny minority then ! Obviously other industries have rogues as well which would be covered in their own relevant news articles. Mortgage Solutions concentrates on financial services which is why that is the specific industry we are reading about. Incidentally if someone is paranoid that would mean they have an extreme & irrational distrust of others. However you say ” tad ” meaning a very small amount, therefore it cannot be extreme or indeed paranoid.
Ralph
17 May 2012 | 10:57
Thanks for all your comments this week
