BBA says wealthy borrowers must be exempt from LTI cap
This is something we have worked hard to bring to market with our specialist lender contacts using a price for risk basis of underwriting!
There is a definite need for this type of risk assessment of individuals who have unusual income structures, and don’t fit the high street. The specialist market provides the solution and will continue to gain traction as post-MMR rules continue to throw up challenges!
Chris Bramham
Bank remortgage and equity release approvals plummet – BBA
Perhaps it’s because it can take a two or three hour interview now to get a simple equity release mortgage even on low multiples, whereas it used to be 20 mins, that is slowing the market – it really does need a good look at.
Mike
Buy-to-let gone bad: five hallmarks of a bad landlord
Why am I not surprised… remember “fast-track” mortgages from the mainstream lenders? Sold to intermediaries as “no income verification/no proof of income required” but covered their use by “it speeds up the service”.
John
Labour’s £1.2bn mansion tax to hit 100,000 homeowners
Yes. Good. 100,000 homeowners out of how many homeowners? 20 million? The top 1% own over 20% of the wealth. In other words, 600,000 people own 1/5 of everything.
That leaves 59,400,000 others outside that 1%. If we want a better, fairer society, we have to arrange things better than they are now.
Wembley71
Fixed rate price war is merely ‘window dressing’ – Haresnape
If these lenders want to boost their net lending they should offer intermediaries both the facility and remuneration to arrange product switches.
I know it probably galls lenders to think they may have to rely on third parties to improve the bottom line, but eventually the will have to wake up and smell the roses.
Unless every lender starts to offer a price match facility then I cannot see net lending improving for most. VIVE LA BROKER!!!
Pointed
Thank you for your comments this week
