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February 2009
03
Never a dull moment
Contents Nia Williams, editor
4 News review
T
he start of the year has seen numerous attempts by the government
to help businesses and consumers through the recession. The
5 Diary and appointments
These have been well-documented on our website www.mort-
6 Statistics
gageintroducer.com and are dissected throughout this issue. However, government
Products available;
products sold; and house
will they work?
price indices
Only time will tell. Many experts believe interest rates will come down
is trying to
11 Facing debt
again which will help – but only if lenders actually pass the cuts on. And
How you can help your
then only if they are willing to lend their money. Potential borrowers
make
clients need to put down huge deposits that most can ill-afford and the remort-
15 Time to move on
gage market has seized up for a number of reasons, not least that lenders'
lending to
How networks can rebuild SVRs are often more competitive than the offers available – or not – to
consumer trust in advice
borrowers.
18 Questions from hell
consumers
The government is trying to make lending to consumers more attrac-
All your mortgage and GI
market regulatory queries
tive to lenders; it is trying to protect those who lose their jobs or are
more
answered
struggling with their mortgages. Some lenders are starting to come out
19 Growing responsibilities
with new offers – some now with interest rates lower than their SVRs.
Okay, so the government plans have been criticised for being vague and
attractive to
The proposed changes to
the Approved Person lacking both detail and clout; and I have had many phone calls com-
regime
plaining about lenders advertising a certain rate at a certain LTV but not
lenders
20 Post credit crunch
actually lending at all. But things are now being done – it is a start.
What buy-to-let life will be
like post credit crunch
However, there is still a great deal of uncertainty and an understand-
able lack of confidence that things will get better. This can be seen in the
22 Improving perception
results of a recent poll on our website. We asked the question 'What per-
The Retail Distribution
centage do you see the intermediary mortgage market shrinking by over
Review
the next two years?' We had a huge response: 4 per cent said it would not
24 Never a dull moment
shrink at all; 27 per cent said it would shrink by up to 20 per cent; and
Government intervention
and what still needs to be
the same percentage said it would shrink over 50 per cent. Most of you
done
believed it would shrink by up to 50 per cent.
26 Online solutions
I don't know what planet the 4 per cent live on but I wish I was there
Why the internet has had
as well!
limited impact on Please keep letting me know how you feel about issues. The polls on
mortgage distribution
the website change every couple of weeks so make sure you visit to have
28 Protection news
your say. If relevant I will pass the results on to the government and to
29 Cover all options the FSA on your behalf.
A reminder of exactly what
It all has to start somewhere.
is available in the
protection sector
31 Equity release news
32 Prepare for the
Issue 8 Head of Production
unexpected
February 2009 Melanie Jones, 020 8290 4999
We can only move on by
melanie@mortgageintroducer.com
reviewing what has come
Editor
ADVICE TO READERS
before so here is a look
Nia Williams, 0207 490 0693
Information carried in Mortgage Introducer is checked
for accuracy, but we recommend that you make
back at 2008
Nia@thepublishinggroup.co.uk
enquiries and, if necessary, take legal advice before
Advertising Sales
entering into any transactions. Any views or opinions
34 CeMAP revision
Nichola Finlayson, 07764 184181
expressed in this magazine are solely those of the author
and do not necessarily represent those of The Publishing
Group Ltd.
Sample questions to test
Nichola@thepublishinggroup.co.uk
Printed in England by Cervidae.
All rights reserved in respect of all articles, drawings, Distributed by Norwood Mailing
photographs etc published in Mortgage Introducer any-
your knowledge
Ramesh Sharma, 0207 490 0719
where in the world. Reproduction or imitations of these The text and cover papers used in this publication are
Ramesh@thepublishinggroup.co.uk are expressly forbidden without permission of the pub- sourced from sustainable forest products and are fully
lishers. Editorial contributions requiring an answer
Online Manager & List Sales
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Marco Callegari, 0207 490 0703
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tions lost or damaged in the post. Conditions of sale and
Don't forget to turn over for
Marco@thepublishinggroup.co.uk supply: this periodical is sold subject to the following
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Subscriptions ten consent of the publishers be lent, resold, hired out or
your copy of Commercial Andrew Goldsmith, 0207 490 0622
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Finance Introducer
Andrew@thepublishinggroup.co.uk advertising, literary or pictorial matter whatsoever. All
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www.mortgageintroducer.com February 2009 Mortgage Introducer
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