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July/August 2009
03
Tougher life?
Contents
4 News review
5 Diary and appointments
6 Statistics
A look at house price information
around the country Nia Williams, editor
8 Questions from hell
All your regulatory queries
answered
9 Letters
10 Setting the standards
Andy Moody of TCF Debt Solutions
A
s we were going to press, the long-awaited reforms to the
financial system proposed by the Chancellor were
unveiled.
argues that the time is right for a Reducing the risk to the economy and, as a result, to consumers is the
clear set of standards to be issued
13
Government’s main aim. It plans to regulate any organisation that poses
T&C comes of age
Joanne Smith of The Consulting
a threat to the financial system, so commercial banks and investment
Consortium, looks at training and banks will be covered, as well as mortgage lenders. And larger banks or
competence and the FSA
14
banks that pose more of a threat will be regulated more heavily. A new
Opening new doors
Julie Speed, national accounts
Council for Financial Stability will be set up, reporting to the original
director at Evaluate, looks at how
three – the FSA, the Bank of England and The Treasury.
new technology can open new
So what will it mean for us? Well, no one really knows as yet. They are
doors for mortgage advisers
16
proposals which the Chancellor is putting out for review to the City and
Support networks
Phil Whitehouse, head of The
other regulators which mean things could change plus the proposals
Mortgage Alliance (TMA), don’t go into great depth. The eventual reforms aren’t likely to be imple-
investigates ‘outsourcing’ and
‘strategic partnerships’ in
mented before the next election either.
challenging economic times
There are issues that need further thought such as the likelihood that
18 In the hot seat
lending will be restricted even further, although whether that will be by
In the hot seat this month is Paul
the much publicised loan-to-value or loan-to-income still needs to be
Fradgley, CEO at Evaluate
Technologies
clarified or discussed further.
Critics are already saying that the proposals are vague and go into no
19 Equity release news detail at all; others welcome the move as a way of protecting consumers.
21 Finding the solution What it will mean for mortgage lenders and brokers, only time will tell.
Alison Beeston of Bridgewater
Equity Release, considers how to
Let me know what you think – send me an email on
decide on the right solution for
Nia@thepublishinggroup.co.uk.
your clients
In the meantime, this is a joint July/August issue and we will be back in
25 Protection news
the first week of September. However, keep visiting
27 Pricing problems
mortgageintroducer.com for the latest news and further developments
Kevin Paterson of Assurant
on Alistair Darling’s proposals. Have a great summer!
Intermediary, looks at
underwriting at point of sale
Issue 13
July/August 2009
ADVICE TO READERS
29
Information carried in Mortgage Introducer is checked
Commercial finance news
for accuracy, but we recommend that you make
33
Editor enquiries and, if necessary, take legal advice before
Commercial finance diary
Nia Williams, 0207 490 0693
entering into any transactions. Any views or opinions
34 Facing the challenge
expressed in this magazine are solely those of the author
Nia@thepublishinggroup.co.uk and do not necessarily represent those of The Publishing
Times are tough for leasing
Ramesh Sharma, 0207 490 0719
Group Ltd.
brokers so Adam Tyler of the
All rights reserved in respect of all articles, drawings,
Ramesh@thepublishinggroup.co.uk
photographs etc published in Mortgage Introducer any-
NACFB, looks at the threats where in the world. Reproduction or imitations of these
Printed in England by The Magazine Printing Company.
facing this market – and how the
Online Manager & List Sales are expressly forbidden without permission of the pub-
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Association plans to help
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Incorporating
36 Helping to diversify
Subscriptions
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supply: this periodical is sold subject to the following
A look at the ifs School of Finance
Andrew Goldsmith, 0207 490 0622
conditions, namely that it shall not without the prior writ-
courses in equity release and Andrew@thepublishinggroup.co.uk
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Head of Production
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37 CeMAP revision
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Melanie Jones, 020 8290 4999 advertising is subject to the terms of our current rate
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Sample questions to test your melanie@mortgageintroducer.com
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knowledge
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www.mortgageintroducer.com July/August 2009 Mortgage Introducer
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