Contents A bit of a brain spin
Does anyone else feel like they’re in a constant spin at the moment? One minute the economy is in dire straits and we’re facing a double dip recession, then GDP fi gures say it’s alright again and we’re back in positive growth territory.
House prices are up one minute, down the next, fl at overall but not if you take into account the regional variations. Unemployment is rising steadily. Infl ation has rocketed and fallen back. A sure-fi re base rate rise in May has turned into
an August hike of 0.25%. Others think we won’t see a lift until the year end. It’s enough to make your brain hurt. But rather than holding your head in
your hands, now’s the time to do some serious thinking. Life ain’t so bad. Financial uncertainty is a good conversation starter for
brokers looking to help clients remortgage and you’re telling us that potential buyers seem to feel now’s a good time to buy. And what of mortgage supply? While mainstream lending is still subdued activity in the periphery of the mortgage market is reportedly buzzing. Borrowers who don’t fi t the tick-box credit scoring of the biggest banks are getting a lot of attention from various corners of the market. Bridging, secured loans and short-term fi nance are vying for a piece of the action while some of the smaller building societies are also prepared to price for risk – something Vic and Dale Jannels discuss in more detail in our cover feature with AToM starting on page 30. They’re not the only ones. The mortgage market is awash with borrowers with a less than perfect credit profi le who have proved they can pay their mortgage month in month out. This class of borrower is given some proper attention in the Precise Mortgages supplement on near prime in association with Mortgage Introducer and you can read more about how to get in on the near prime game on page 26 of the main magazine.
A spin of numbers there may be, but there is also a spin of activity among
brokers and some lenders who’ve recognised there’s business to be done if you think a little bit harder about how to do it.
Sarah Davidson, Editor Editor
Sarah Davidson, 020 7502 8225
Sarah@thepublishinggroup.co.uk
Reporter Yuan Phoon, 020 7502 8220
Yuan@thepublishinggroup.co.uk
Editorial Director
Nia Williams, 020 7502 8231
Nia@thepublishinggroup.co.uk
Issue 34 May 2011 Publisher
Robyn Hall, 020 7502 8229
Robyn@thepublishinggroup.co.uk
Advertising Manager Matt Bond, 020 7502 8227
Matt@thepublishinggroup.co.uk
Subscriptions Andrew Goldsmith, 020 7502 8243
Andrew@thepublishinggroup.co.uk
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ADVICE TO READERS
Information carried in Mortgage Introducer is checked for accuracy, but we recommend that you make enquiries and, if necessary, take legal advice before entering into any transactions. Any views or opinions expressed in this magazine are solely those of the author and do not necessarily represent those of The Publishing Group Ltd. All rights reserved in respect of all articles, drawings, photographs etc published in Mortgage Introducer anywhere in the world. Reproduction or imitations of these are expressly forbidden without permission of the publishers. Editorial contribu- tions requiring an answer should be accompanied by a stamped self-addressed envelope. No responsibility can be taken for contributions lost or damaged in the post. Conditions of sale and supply: this periodical is sold subject to the following conditions, namely that it shall not without the prior written consent of the publishers be lent, resold, hired out or otherwise disposed of in a mutilated condition or in any unauthorised cover by way of trade or affi xed to any advertis- ing, literary or pictorial matter whatsoever. All advertising is subject to the terms of our current rate card.
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www.exact.co.uk StripintroducerEXACT.indd 1 MORTGAGE INTRODUCER MAY 2011 3 13/12/2010 16:25 23
4 News Review 6 Property News Review 8 Lending News Review 10 Buy-to-let News Review 12 Equity Release News Review 14 Product News Review 15 General Insurance News Review 16 Protection News Review 18 Short Term Finance News Review 19 Scotland News Review 21 Packaging News Review 22 Economics News Review 24 Specialist Prime News Review 26 Near Prime News Review 27 Regulation News Review 28 The bigger issue Vote in our poll and see what the experts think 30 Birthday bonanza AToM celebrates its 20th year 38 The Power Hour
Industry experts discuss the EU perspective 44 The Interview
MI talks to Lloyds’ Mike Jones 46 A secure armoury Brokers should not avoid secured loans 48 House prices
What has happened over the past month 50 Commercial News Review 54 Generation X
The NACFB on attracting new recruits to the industry 58 Hall of Fame
Who is infamous this month?
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