SHIP launches discussion paper »
Safe Home Income Plans (SHIP), the trade association for
regulated equity release providers, has published a paper launching
a discussion aimed at redefining equity release to meet today's
social and economic challenges.
Packagers have come a long way since the days when lenders paid
an extra fee to help them out with their chaotic administration
processes. The term Packaging has stuck since that time in the late
eighties. That's all packagers do isn't it? Collect bits of paper
on behalf of inefficient lenders?
Are we ready for the next challenge? »
The past few months have been extremely difficult for anyone
working in the mortgage sector. Not for many years have lenders
been so restrictive as to the types of borrowers to whom they are
prepared to lend money, nor have they imposed such restrictions on
the amount they are prepared to lend, either in terms of
affordability or as a percentage of the value of the property.
Professionalism and mortgage advice »
December saw the publication by the FSA of a report on its
progress reviewing the retail distribution review (RDR) for
investment businesses. It has to be emphasised that, at present,
the matters contained in the review are only proposals and may of
course be adapted as the FSA moves through the process of
The credit crisis and mortgage professionals »
Few people could have anticipated that a problem first
identified as an American issue involving sub-prime mortgages would
very quickly escalate into a worldwide economic incident that could
perhaps be the most significant economic incident ever.
Introducing additional products »
Like many prophets of doom, I have suspected for some time that
the market conditions to which we had become accustomed were
unlikely to prove sustainable. Property prices had risen too
quickly and the levels of debt taken on by many individuals could
only be serviced whilst interest rates were kept to historically
low levels. None of that, however, clearly signposted the problems
that we are now facing, with house prices falling, the market
stalled by a shortage of product and funds, and rising borrowing
costs and inflationary fears causing many people real financial
Regulatory News May 2008 »
Regulatory news bulletin for May 2008.
FSA issues on mortgage advice »
There have been two documents from the Financial Services
Authority (FSA) in recent weeks of particular interest to firms in
the mortgage market. A newsletter was issued to regulated firms in
March and the retail thematic work plan for the next year was
published on 7 April. Both of these documents are of interest
because they provide clear pointers to the issues that are of
particular interest to the regulator and should, therefore, be at
the top of our business priorities.
The mortgage market and the role of equity release »
It is sometimes said that all publicity is good publicity but at
a time when housing and the mortgage market make the front pages of
the national press on an almost daily basis there might be many who
wish for a prolonged period of stability, when many of the doubts
surrounding the market can be shown to be less frightening than is
sometimes being portrayed.
Professional Pointers January 2008 »
Regulatory news bulletin for January 2008.
Payment protection insurance »
Payment protection insurance
Payment protection and mortgage payment protection are short-term
general insurance products that are designed to provide a monthly
income to enable the insured to keep up loan repayments in the
event of inability to work because of accident, sickness or
unemployment. They are sometimes described as ASU policies.
Normally they are limited in time to the period of the loan or to