Boring & the Vulgar society at large and a mortgage market in flux Photo © Seher Sikandar for rehes creative Penn: “Self important tosh”
“The second charge market offers some worthwhile solutions in certain cases as do the various short-term bridging matrices”
get out of jail free cards. The Outlaw knows several individual brokers and indeed businesses which, by virtue of its problems around the tranche man- agement system, have pledged never to use them again. These kinds of out- bursts from brokers aren’t new and are often hypocritically forgotten. But the anger this time does appear to run deep. It’s the kind of polarised disdain that
football striker Carlos Tevez presently invokes. Tevez is back in the fold at Man $ity and I’m sure that his break coin- ciding with the three coldest months had nothing to do with it. He protests that he was treated like a dog. Look pal, you have a job where people tell you
www.mortgageintroducer.com Muppets: It’s Sachsgate again
to run after a ball – to my mind, dog or toddler are the only two models for your skill set. The Outlaw is no Man Utd fan but it’ll be fun seeing the $ity mil- lionaires implode in the weeks ahead. As it will also be seeing the govern- ment crush the revolting fuel truck drivers and the trotskyites at Unite. Basic salaries of £45k and fi nal salary pensions are apparently not enough. I wonder how the leader of the opposi- tion will muddle his way through this one?
nother month and yet another vainglorious and ill-informed Hollywood actor wades into a serious political issue only to make a complete w****r of himself. This time it was Sean Penn who will be very cross with us all if we don’t accept that Ar- gentina has a sovereign right to the Falklands, and ergo, its oil reserves. Self-important tosh. But more than anything else, just plain boring! Shut up you idiot.
A Closer to home the interest-only
saga has now moved from being a slow- motion train-wreck to being just dull. The Outlaw is getting sleepy just read-
Photo © Matt Trostle
ing about it. Brokers need to get past this. Be creative and alert. Many lenders will still allow workable splits between interest-only and repayment (Northern Rock is excellent on this). Additionally, the second charge market offers some worthwhile solutions in certain cases as do the various short-term bridging matrices. The Outlaw is becoming equally bored with the numerous monthly house price index reports. We get it. Prices aren’t really going to move the dial this year. So can some pundits stop clutching at every straw that these sur- veys throw up. As in America, the re- covery is coming but at its self-deter- mined pace.
T
he furore over Goldman Sachs personnel referring to their clients as Muppets was about
as unexpected and shocking as the “England rugby player gets daft when drunk” story at the recent world cup. It is still a vulgar world however
when an organisation like this sits out the sub-prime market itself whilst en- couraging its clients to buy in. Maybe its clients really are Muppets! Ever more vulgar is the behaviour of
claims fi rms who are now also turning their attentions to interest-only. The Outlaw cannot articulate fully enough his invective towards these parasites. They are a blight on an industry which is by and large trying hard to treat cus- tomers fairly. Whatever happened to that grand charter!?
If you have something that you’d like The Outlaw to out, email:
outlaw@mortgageintroducer.com
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MORTGAGE INTRODUCER APRIL 2012 25
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