In an exclusive video in association with Mortgage Solutions, David Finlay, managing director of the intermediary channel at Woolwich, mortgages from Barclays (pictured) agreed with Legal & General’s Ben Thompson that consumers deserved more choice.
Calling innovation from niche lenders great, he added: “As a mainstream lender, I genuinely believe we can’t just keep on pulling on the same levers of LTV, criteria and price. We’ve got to start looking creatively and differently at the market, which will be a challenge for the industry and a challenge for brokers who will need to help us deliver it.”
In a head to head interview between Woolwich’s Finlay and Legal & General mortgage club’s managing director Ben Thompson, Thompson picked out the government’s Help to Buy and Funding for Lending schemes as among the biggest innovations to hit this year.
“I quite like some of the interest-only versions coming out too. The changes from the Clydesdale are probably ones you’ll have seen,” added Thompson.
“Now we’ve seen the interest-only review land, I think it does open up the market with both regulatory clarity and opportunities for further product innovation,” he said.
Next, Finlay asked Thompson which niche he’d like to see Woolwich launch into this year. For the full interview, click this link to see the full Woolwich Legal & General head to head interview.
For all three videos on the hub, use the slider in the box on the right to view the two previous Barclays videos.
You can find the Great Remortgage Debate, hosted by Mortgage Solutions’ editor-in-chief, Paula John or editor Victoria Hartley’s interview with the managing director of Woolwich Mortgages Andy Gray.
View the video hub here.
