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Star Letter Extra 18/09/2015

by: Mortgage Solutions
  • 18/09/2015
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Star Letter Extra 18/09/2015
Each week Mortgage Solutions rounds up the most opinionated and thoughtful comments of the week.

Thanks to Adam Hosker for his comment on: Mortgage brokers urged to be proactive with landlord advice

Some very fine words from Kate Faulkner, conveyancers are a pain but once you find some good ones they do become a real valued asset. I’d point Kate to Blacks in Leeds for BTL Conveyancing, great reviews from our clients.

Thanks to John Azopardi for his comment on: UK inflation rate falls back to zero in August

This news should not surprise with further reductions in prices on the way. Goldman Sachs are predicting an oil price of $20 a barrel. With China’s economy slowing and oil producers like Nigeria and Venezuela having to keep pumping we are set for low fuel costs for the foreseeable future. Given oil’s pivotal role in determining prices – inflation should be near zero for some time.

Thanks to the Equity Release Council for its comment on: Equity release must face up to bad reputation – Star Letter 11/09/2015

Tim is right to say that the sector has come a long way since SHIP/The Equity Release Council was founded nearly 25 years ago. However, he is wrong about addressing consumer concerns. This is in fact at the heart of everything we do, not least through the work of our standards board.

The FCA is right to identify equity release as a tried and tested yet potentially untapped market in the UK and we welcome their intention to explore ways that it could help ease the financial constraints on an ageing population.

Equity release is currently helping record levels of consumers excluded from other avenues of borrowing and we look forward to working closely with the FCA to examine all possible new approaches that could help more people.

And thanks again Adam Hosker for his comments on: Technology: a genuine threat to the intermediary market?

What technology? YBS having a form that checks against basic criteria and gives a green or red light is not innovative technology (never mind that it still involves a branch visit). That is something we should have expected 15 years ago.

On that news – its great to hear Halifax in October will be closing its fax line and now has an online upload facility. The future is here.

If in the article, the customer went direct to the branch after providing details to a broker, I feel the broker did not express his value very well.

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