Review: The Month That Was
The Good, the Bad, the Each month The Outlaw draws some tongue in cheek parallels between s by The Outlaw A
n absolute bundle of good news this month. Housing starts and completions are up 6% and 9%
respectively, house prices continue to re- cover to near former levels, the number of mortgage products tops 10,000 and Vin- nie Jones says he won’t be returning to live in the UK because due to immigration overload (see below) it is a country “he no longer recognises’’. He clearly prefers to re- main as both an immigrant and a dull and failing one dimensional actor in another country. I’ve seen Mortgage Expo pole dancers with better ball skills than Jones had.Te Outlaw keeps lauding the Clydes- dale but for good reason. Teir low-start products really are what the market needs and more lenders should be following suit. Congratulations also to those mainstream lenders (whom I can’t really name) who have recently improved their scorecards. Signs of some sensible underwriting fi- nally returning to a market where frustrat- ingly there are still too many lenders using the MMR as a badge of convenience in not lending more or lending better. Te Outlaw also has to credit the FCA
and the BoE. Under fresh stewardship both of these organs appear to be working more fairly and transparently than, say, a year ago. Carney and Wheatley (sounds like a Manhattan law firm or a City tailors doesn’t it!!??) are key to the continued re- covery and as with any commercial enter- prise it’s the calibre and courage of the per- sonalities which really make the difference and gets a business plan achieved. As the appointment of the brilliant Peter Capaldi to the role of Doctor Who will pointedly
Peter Capaldi: Living in a box
prove. Tough this surely won’t be the first time that a Glaswegian will have been found living in a phone box?
bank lending to British businesses shrank by an average £1.7bn a month is a shocker even if you allow for these businesses un- derstandably paying down inexpensive debt. And whilst Te Outlaw believes that the
T
changes required within the MMR are no great departure from where we are now they are being a) over-hyped by some in the trade press and b) not being given enough communication by lender bodies anyway. It surely can’t be beyond the wit of the CML and IMLA to sit down and work through the half a dozen key alterations and then issue a universal policy approach to intermediaries? From the bad to the sad and the death of
Sir David Frost. Te Outlaw once observed a few overs at Lords sat next to Dave. I ordinarily despise namedroppers but on this occasion I just have to acknowledge that this man was as modest and affable
30 MORTGAGE INTRODUCER SEPTEMBER 2013
here continue to be some frustrat- ing trends within the economic recovery however. News that net
Colin Montgomery: Mumbling idiot
as anyone you’d care to meet. Much like that bloke Martin Reynolds whose recent biography piece in the trade press set the template for how all of these pieces should be... self-deprecating, intelligent and un- burdened by blatant hubris . Regrettably there are still far too many of
these “look at me” profiles which make me want to reach for the puke-bucket as we are invited to read about how Mr Fantastic could have been a war hero in the servic- es or started his own business (which of course translated means “I wasn’t good or ballsy enough on either count and like so many in the industry I would have sh*t the bed as soon as anyone suggested I remort- gage the house to effect a decent start-up”. Talking of soiling the linen, just when
will Lee Westwood stop doing such in the fourth round of a major golf tournament. And why oh why do Sky Sports Golf keep persevering with that vainglorious and mumbling idiot that is Colin Montgomery?
sector? Yes, it’s called the bridging sector folks and we all know why that is don’t we?
O
www.mortgageintroducer.com
n to the boring. Am I the only one to be getting thoroughly bored with hearing about the bridging
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