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‘I hope execution-only leads to lenders paying large amounts of compensation’ – Star Letter 04/10/2019

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  • 04/10/2019
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‘I hope execution-only leads to lenders paying large amounts of compensation’ – Star Letter 04/10/2019
Each week Mortgage Solutions and its sister title Specialist Lending Solutions selects the best contribution from readers as Star Letter.

 

This week’s first top comment came from Derek, in response to the article: Execution-only drive may lead to spike in compensation claims – AMI.

He said: “I sincerely hope that the keenness of lenders to encourage clients towards execution-only does result in them having to pay out numerous and preferably large amounts of compensation to clients. 

“I am currently trying to remortgage a client of mine with the lender I put them with two years ago. The lender is doing everything they can to poach the client. 

“They are trying to make things easy for the client to do the process directly with them in order to confuse and suppress the arrangement through brokers. Many lenders are good, but this is not the first time we have come across this kind of problem with lenders.” 

 

Builders maintaining profits

Dave Evans had something to say about the drop in new build starts in response to the article: New-build starts continue falling putting government under pressure 

Evans said: “It really is simple. Builders and developers will not build the required numbers as that will lower overall values and therefore profits.  

“The simple economics of supply and demand.  

“The only answer, especially for many first-time buyers, is a programme of social housebuilding. Leave the developers to the mid and higher end, thereby maintaining profits.” 

 

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