Fraudster jailed for 9 years over £13m property scam
I wonder how long it will take the FSA to ban this one as not being a fit & proper person to be a mortgage broker. My guess is about April next year.
Julie Taylor
12 Nov 2012 | 13:47
Poll: Are you preparing to jump ship to another network?
The trouble is that once a network is known to be in trouble then it is already too late. As we have seen before, a network on the cusp of administration then freezes all pipelines (providers deem the network to own the money of course) and even the best contracts fail to ensure the AR share of income comes to them regardless.
Instead it is tied up until the liquidator can untangle the mess and this often means the AR receives little or none of their money, which can see them in turn go bust. Some networks that were previously breaking even have increased their charges which will see their top performers move away first.
In turn, the smaller ARs will need to ensure they are at the front of the exodus to retain any chance of seeing their pipeline. In my view, if an AR has doubts about their network, now is the time to start looking elsewhere and not after Christmas. Many still have robust models and deliver good value for money.
Arron Bardoe
12 Nov 2012 | 18:08
Expo 2012: Regulator preventing restoration of mortgage market
The regulator has taken too much on and is crossing into territories it was not designed for.
The politicians who are supposed to be policy makers have by lack of control on the regulator allowed them to stifle lending, innovation and financial recovery.
They still don’t realise that the housing market drives the economy with purchase of kitchens, bathrooms, white goods, TVs, transport of same, building removals etc to name but a few casualties. Govt. Man up and put the regulator in its place and save our economy.
Mike
14 Nov 2012 | 12:45
Expo 2012: Regulator preventing restoration of mortgage market
These are extreme views! You do not want 100% LTV lending? Sub-prime needs to be looked at in details! You do not lend to people who are unable to manage their finances at high rates putting them in a difficult situation?
Yes, there needs to be some relaxation on incomes, etc and self-employed need to be treated better if they put down a bigger deposit. We need a prudent, can do lending attitude by lenders.
The other issues are minor changes, so that financial crime does not make all criminals in daily life. We do not want to go back to the bad old days either!
Salam Ansari
14 Nov 2012 | 14:06
Expo 2012: AMI warns claims firms not to be “silly” on interest-only
Why bother. They will try anything to get a buck. Why not come up with something useful like a letter of some sort that informs the claims firm that the advisers will charge a fee for time wasting.
This could then become an industry standard which might have some affect.
Swanny
14 Nov 2012 | 17:18
Thank you for your comments this week.
