1. Lenders fear FCA backlash over lending into retirement
Lenders have blamed their reluctance to lend to older borrowers whose mortgages stretch into retirement on the fear of a future clampdown by the regulator.
2. BDMs are important but some struggling, say intermediaries – BDRC
An overwhelming 96% of the mortgage intermediaries we surveyed in September 2014 said it was ‘important’ for lenders to maintain business development manager (BDM)networks.
3. Exclusive: Halifax promises faster turnaround times after pilot success
Halifax is preparing to roll out a streamlined service proposition to brokers which will reduce the amount of time it takes from mortgage application to completion.
4. The butterfly effect for mortgage rates – Mike Jones
The butterfly effect is the popular metaphor for how a small change in one set of conditions can have significant impact later on in another set of conditions. The theory being that the flap of a butterfly’s wings in Brazil could eventually set off a tornado in Texas.
5. Over 40s face ‘unjustified’ discrimination in mortgage market
Freezing the over 40s out of the housing market is another example of unjustified age discrimination. according to Paul Green from Saga.
6. Exclusive: Fleet Mortgages unveils inaugural product range
Buy-to-let and specialist lender Fleet Mortgages’ inaugural product range will allow individual and limited company buy-to-let borrowers to take out mortgages up to 80% loan-to-value with rates starting from 2.79%.
7. RBS cancels customer’s accounts after criticising bank in report
A businessman who wrote a government report that criticised RBS has been told he can no longer remain a customer of the bank, according to the BBC’s Panorama programme.
8. Weird and wonderful uses of equity release
The appeal of equity release has been advancing in recent times hitting record lending figures and surpassing pre-financial crisis lending as it continues to support the over 55s.
9. BSA calls for Stamp Duty reform in Autumn Statement
The Building Societies Association (BSA) wants George Osborne to announce reforms to the Stamp Duty tax by abolishing its ‘unfair’ slab structure in his Autumn Statement on 3 December.
10. The Equity Release Awards 2014 – pics of the night
It was the tenth anniversary of the Equity Release Awards, hosted by Mortgage Solutions held at Merchant Taylor’s Hall on Threadneedle St. in the City.
Thanks for all the visits this week and have a great weekend from the Mortgage Solutions team
