Opinion on Mortgage Lending in United Kingdom

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Type Product title / description Pub Price
CommentWire
CommentWire

Mortgages: long term plans

In April, UK Chancellor Gordon Brown announced that he favored long-term fixed rate mortgages over the short-term fixed rate and variable rate products more common in the UK. HBOS [HBOS.L] is now in discussions with the Treasury about launching such a product. But, while it may make the chancellor happy, there will be little to attract consumers.

Published By Datamonitor
11 Jun 2003
CommentWire
CommentWire

HSBC: Islamic mortgages attract interest

Lenders in the UK have been discouraged from providing Sharia compliant mortgages for the country's 1.8 million Muslims. However, following regulatory alterations announced by the Treasury, things could be about to change. HSBC [HBC] plans to launch an Islamic mortgage product and other high-street banks could now follow suit with mortgages and other financial services products.<BR />

Published By Datamonitor
02 Jul 2003
CommentWire
CommentWire

First time buyers: property ladder out of reach

Latest figures from the Council of Mortgage Lenders (CML) provide convincing evidence of the marginalization of first time buyers in the UK property market. The Government, property developers and mortgage lenders all need to play a role in addressing this growing problem.<BR />

Published By Datamonitor
23 Jul 2003
CommentWire
CommentWire

The Post Office/Bank of Ireland: an uncertain alliance

The Post Office and Bank of Ireland [IRE] are teaming up to offer banking services. The partnership has the potential to ease both parties' respective problems, but while the Post Office's strong brand and branch network hint at success, more will need to be done if the partnership is really to succeed.

Published By Datamonitor
13 Oct 2003
CommentWire
CommentWire

Birmingham Midshires: mis-selling accusations fly

Mortgage bank Birmingham Midshires is scrambling to save its reputation after BBC mystery shoppers were allegedly encouraged by advisors to overstate their income for self-certification mortgages. Banks should make proactive investigations into self-certification mortgage selling now if they want to keep a full mis-selling spree at bay.

Published By Datamonitor
28 Oct 2003
Expert View
Expert View

Family finances to help first-time buyers

The current account and offset mortgage market is a fast growing segment that accounts for GBP22 billion of the UK mortgage market in terms of gross advances. New variations, such as Family Offset Mortgages, have brought a breath of fresh air to first-time buyers and, according to Datamonitor's Karina Purang, the benefits of such products will help the segment continue to grow...

Published By Datamonitor
07 Nov 2003
Expert View
Expert View

UK mortgage market fuelled by huge increase in remortgaging

The slowing growth in gross advances for house purchases can be largely explained by a decline in first time buyers who are put off by the current high prices. According to Datamonitor's Karina Purang, it is the growth in remortgaging that is currently driving the mortgage market as rising house prices have encouraged consumers to unlock the equity in their homes...

Published By Datamonitor
16 Jan 2004
CommentWire
CommentWire

Co-operative Bank: pulling the plug on self-cert

Co-operative Bank's decision to remove its self-certification mortgage product follows allegations of widespread fraud in the market. It is evidence that lenders are becoming increasingly nervous about this market's future prospects, despite the FSA recently giving it a clean bill of health. Indeed, lenders that ignore the warning signs could find themselves in trouble later down the line.

Published By Datamonitor
01 Mar 2004
CommentWire
CommentWire

UK mortgages: new FSA regulation favors IFAs

Broader regulatory powers for the FSA will have an impact on the distribution of all financial products and increase pressure on product providers. The changes will affect mortgage brokers considerably as they will be brought under the FSA's jurisdiction for the first time. One group that will benefit from the changes, however, are IFAs.

Published By Datamonitor
21 Apr 2004
CommentWire
CommentWire

Abbey: back to black

Abbey [ABBE.L] has returned to profit in the first quarter of 2004. However, when compared to the recent record profits of many of the UK's high street banks, parts of the results are still disappointing. Investment sales in particular have fallen dramatically, however its future plans to offer 'wrap' platforms should see it bounce back.

Published By Datamonitor
23 Apr 2004

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