Cover


handbrake off. Buy-to-let lending without certain income verifications would set the pulse racing especially given that this sector will self-stimulate the most in 2012. Grade: B+


says no” club which is still populated by so many other lenders. A decent offset proposition and underwriter –access could see it lend over £300m a month next year. Grade: B


D IS FOR DARWINISM Brightstar on the other hand knows how


to get a broker’s attention. We may all fantasise about £5m bridging loans but those deals are as rare as hen’s teeth. Deals with Saffron and other niche players have confirmed that in Brightstar managing director Rob Jupp’s case, form may be temporary but class is permanent. Maybe the Financial Services Authority will now stop moralising about Brightstar’s twitter behaviour. #fatchance Grade: B


C IS FOR TWO CRACKING LENDERS, ALBEIT WITH DIFFERING APPROACHES


S If you are reading this journal, then


Coventry’s incredible tier one capital ratio has been put to fine use. Its seven key pledges are ones which have integrity and so long as you submit what they ask for, there are rarely any tears and tantrums on stage. Kevin Purvey was an inspired appointment which bodes well for 2012. Grade: B+


congratulations. It means that you have made it through the worst of it and that you’re still interested in your trade and what affects it. There may be a handful of businesses that may find one more inclement winter tough to get through but given recent Council of Mortgage Lenders figures which detail average monthly lending of £13bn in recent months, you should have some degree of winter fat in the pipeline with more sustenance than a bushtucker trial would procure. Grade: A+


E IS FOR EUROZONE LEADERS


His 15 minutes of fame should have


expired a decade ago but in the words of Louis Walsh, Clydesdale has also really “nailed it” this year. Yes, there were some inevitable service challenges around such weighty lending volumes but this is a lender which refuses to join the “computer


Altogether now “you don’t know what you’re doing”. Apparently we all now speak German according to one of Angela Merkel’s lackeys. As Private Fraser in Dad’s Army once coined: “It’s doomed laddie, doooommed I say!” I do feel for


28 mortgage introducer DECEMBER 2011


Prime Minister David Cameron having to fend off attempts at a tax on the City’s success as well as an over-arching regulatory creep from a cabal of unelected eurocrats who have no mandate whatsoever. Bring back “jeux sans frontiers” I say. We may export 40% of our stuff to the continent but my money is still on hardworking John Bull to deliver a knockout and get us in better shape within five years whether the euro experiment becomes one speed, two speed, or better still, torpedoed. Here’s some German for you. Das euro is kaput, baby. Grade: U (Utterly Useless)


F IS FOR FUNDING


If only there were a silver bullet on this one. That said a slow thaw did set in during 2011 with specialist lenders such as Kensington and Paragon tapping the 2011 securitisation markets that also saw RBS, Clydesdale, Lloyds Banking Group and most recently Barclays going to the well. The mandarins in E above have been partly responsible for Libor jumping 1% in the past three months which is ironically now bringing a positive collateral impact on savers’ rates as societies in particular seek to raise funds via one year accounts. Clydesdale and Kent Reliance now pay not far off 4%. It’s a selfish and personal perspective but SVRs rising regardless of the comatose base rate might be very welcome across many brokerages. The


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