UK equity release mortgages: subdued performance is no barometer for future

Latest figures published by the Council of Mortgage Lenders (CML) reveal that new equity release lending advanced in 2005 was down by 13.4% on 2004. However the longer term picture looks rosier: the current regulatory structure should ensure that equity release lenders have the appropriate sales practices in place to sell these complex loans and this, in turn, will restore consumer confidence.

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Recovery in sight for UK mortgage sector

The UK mortgage market looks to be in recovery mode. Gross advances in the UK residential market are forecast to grow almost 13%, from approximately GBP287 billion in 2005 to GBP324 billion in 2010, but Datamonitor calls for caution, as the market will see a couple of tough years before seeing faster growth from 2008.

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Lambeth/Portman: safety in numbers

The UK mutual lenders Lambeth and Portman are to merge subject to the approval of Lambeth's members and the confirmation of the regulator. The move will see the enlarged mutual better equipped to face the challenges of a changing market place, and this is unlikely to be the last such marriage as the costs of compliance and regulation take their toll on smaller players.

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UK property market: new code for estate agents will not eradicate shabby practices

The UK's estate agents ombudsman has introduced a code of practice for its members. While this is a positive step, the fact remains that rogue practices are likely to remain. Given the importance of estate agents in the house buying process and the huge financial commitment involved for the consumer, such abhorrent practices cannot be allowed to continue.

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UK mortgages: remortgaging set for substantial growth

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Standard Life Bank: profits before market share in mortgages

Standard Life's internet banking arm made pre-tax profits of GBP23.9 million in 2005 compared to GBP8.1 million a year earlier. Although it did succeed in modestly expanding its mortgage book, Standard's performance reflects the merits of its focus on profitable business over market share. In a slower mortgage market, where bad debt is a growing problem, Standard provides a lesson for others.

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European mortgages: Greek market set for surging growth

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Lenders in wait-and-see mode on UK equity release market

UK lenders' precautionary approach to equity release is preventing the market from fulfilling its full potential. This niche sector has the potential to treble its size within the next five years, but in spite of this obvious attractiveness, mainstream lenders have been slow to seize the opportunity.

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Australian first time buyers are coming back to the market

First time buyers (FTBs) are coming back to the Australian mortgage market after being priced out of it. FTBs in the Australian property market will be worth A$31.5 billion in 2010, and account for 11.3% of total housing lending commitments. While this represents an increase of almost 30% compared to 2005 levels, it is still a lower growth rate than that recorded over the 2001-2005 period.

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UK banking charges: regulator's tough stance risks nullifying consumer benefits

In a letter to the banking industry, the OFT has made it clear that the GBP12 limit on credit card penalty fees will not be applied automatically to overdrafts, as the regulator has not yet carried out enough research into this market. However the regulator is still likely to push for a general reduction in overdraft fees, raising the possibility that the banks may look elsewhere for profits.

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