Murphy and Montlake defend ‘right time to remortgage’ comments
Having been a victim of misquotations by the press several times myself, I can sympathise with Brian and Monty. Only the most cynical hack would deliberately misconstrue their comments as advocating irresponsible borrowing. Both are respected and quality individuals who never engage in sensationalism or scare-mongery. Unlike the author of the piece…
Good Mortgage Man
[Which wasn’t a Mortgage Solutions journalist – ed.]
The science behind the Openwork panel pitch
Most tied advisers can work from this new smaller panel if allowed to go off piste now and again or use packagers. Not as bad as I thought when I first heard about it. Being a DA adviser I like being able to offer whole-of-market but can see 95% of my cases would have fitted on this panel even if still tied to working for Openwork.
Only lenders in my area I would be unhappy to give up would be Vernon BS
or outside Manchester the Marsden BS, Saffron BS, Bath BS and National Counties.
dougie
Santander set to impose first-time buyer income multiple cap
With practically no first-time buyer lending going on an interest-only basis, 4.5 times income seems sensible. Interest rates won’t stay low forever and wage inflation seems likely to stay very low for some time. However, I would prefer to see this combined with the option to get individual cases in front of an underwriter where the case has merit – such as newly qualified professionals with defined salary increases.
Andy Wilson
Santander set to impose first-time buyer income multiple cap
Yes Andy, interest rates won’t stay low forever, but are not the lenders already using SVR plus 3% to assess ongoing affordability?
Also, did you not see that story in The Telegraph on 9th February – “David Cameron will tell company bosses to give their staff a pay rise in the coming months because “costs are falling and it’s cheaper to do business.”
So everything will be fine.
dougie
Will BoE be forced to cut rates this year?
We are moving into a period of continued change in the financial markets, old worn out advice will not do this time around. The client has never
needed our good sound financial advice more than now. It is possible we may need negative interest rates for a short time.
Ray Hurst
Thank you for your comments this week
