It is about time the EU governments that spent a decade spending way beyond their means concentrated on stopping themselves getting in to the same mess rather than blaming the bankers.
The UK was spending £170bn per year beyond its means and ran up trillions in debt where the bank bailout was £40-60bn and some of this will be recovered with dividends.
Banks pay money to those that earn them money – simple. If EU governments choose to use their instruments to gear up their spending, then they must accept the blame.
It’s good to see TenetLime supporting their broker community with Social Media guidance. Many networks seem to be shying away from this important medium.
I have been advising Capital Bridging Finance Ltd. for the last 6 months on their distribution plans and in that time it has been very evident that there is a great deal of ignorance about the benefits of short term funding solutions and the process involved in bringing a bridging case to completion.
Much is being done by ethical and prudent lenders to educate the broker fraternity that in many cases this funding line is not the one of last resort. Brokers with an appetite for growth and a business model that targets appropriate markets should be supported by lenders to understand the opportunity more and gain that all important competitive advantage.
Is it too much to hope that a lender brings out something akin to the Halifax Retirement Home Plan, which offers higher LTVs than schemes which carry an option to convert to a ‘roll up’ of interest basis later?
There was a place for that product even if it couldn’t offer the SHIP guarantees. My website gets a very high number of hits on a post about the product, and I know from my own clients that it is sorely missed.
I know, it’s a dream because the new ‘affordability’ assessment responsibility falling on lenders will kill the lenders’ confidence – imagine their difficulty in assessing affordability both at outset but also in 5,10,15 or 20 years’ time or if one of the partners in a couple dies, So let’s instead simply hope for new innovation that can help to stimulate this market and accelerate its growth.
New competition in the market can only be a good thing.
Great to have them back. This is good news for all intermediaries and our clients.
Thank you for your comments this week.