The first was from George Williamson, in response to the article: We cannot turn on lenders overwhelmed with 90 per cent LTV business – Montlake
Williamson said: “The big boys need to come back to market, especially RBS, NatWest, Lloyds and Halifax who have a moral duty to re-enter the market at 90 per cent loan to value (LTV). The UK public bailed them out last time, so now it’s time to return the favour.
“We are in a market that is no busier than it should be at this time, and if mortgage choice is reduced by LTV, then the lenders will start driving down house prices and force a longer and deeper recession – not a great outcome.”
He added: “As for the Bank of England, Prudential Regulation Authority and the Financial Conduct Authority – using LTV as the major indicator of risk harks back to caveman days, we now have fire, the wheel and our regulators need to have learned this lesson from the credit crunch.
“Using LTV bankrupted many profitable businesses for the sole reason that the LTV covenants had been breached and this was used to assess the capital adequacy of lenders.”
No mortgage applicant is risk-free
Another article which gained a response was: Property sales rebound to near pre-Covid levels – Zoopla
Sox said: “Yes, and most of these are yet to have their mortgages agreed. What I’m seeing from some lenders this week is quite ridiculous.
“Let’s face it, as far as risk assessment goes, no applicant is a sure thing in this environment. Standby to have cases decline for no apparent reason.”