Exact Mortgage Experts » Mortgage Strategy: Alan Cleary’s column

Simple truth about lenders’ scorecards

roselleh — Tue, 31 Aug 2010 13:11:22 +0000

Following on from last week’s column regarding scorecards I will attempt to debunk the differences between a lenders’ lending policy and scorecards. Lending Policies outline what type of lending the organisation will accept and takes into consideration things like, LTVs, income types, ...

Scorecards are not there just to annoy

roselleh — Mon, 23 Aug 2010 13:16:25 +0000

Some would have you believe that lenders who use scorecards are somehow making life difficult for mortgage brokers by inferring that scorecards decline good borrowers that would have otherwise been accepted. Whilst this may be a convenient marketing story it is not the case. I have worked for ...

It’s payback time as banks make profit

roselleh — Mon, 09 Aug 2010 13:09:15 +0000

It’s a bumper season for the banks once more with several of the UK banks reporting not only that they are back in the black but things are looking positively rosy. No doubt the politicians will start the whole bonus saga all over again and how these reckless bankers should punished for their ...

Use technology to re-build the market

roselleh — Mon, 02 Aug 2010 11:31:26 +0000

It was good to see Halifax launch their new intermediary online system recently, as the number of lenders investing capital in new systems is few and far between. In difficult economic times the natural tendency is to conserve as much money as possible and along with the marketing budget, the IT ...

Helping landlords fill the housing gap

roselleh — Mon, 26 Jul 2010 13:05:48 +0000

The Association of Residential Lettings Agents reported last week that there is a growing shortage of private rented property available vs the number of tenants looking for a place to rent. This piece of news is supported by a number of indices reporting that rental yields have been firming up ...

Don’t just focus on problems in MMR

roselleh — Mon, 19 Jul 2010 13:28:38 +0000

I am sure that MMR is going to be a hot topic for a number of weeks and of course we should not under estimate the potential impact of the proposed changes. However, there was a fair bit of knee-jerk journalism last week, virtually minutes after the consultation paper (CP) was issued there were ...

Don’t let your firm be used by rogues

roselleh — Mon, 12 Jul 2010 15:59:01 +0000

Not a week goes by where there isn’t a press release about a broker being fined or struck off the FSA register for some kind of financial crime; this may lead you to think that fraud has suddenly spiralled out of control. However, in my experience the increase in fines and de-authorisations is ...

Mortgage sector is vital to confidence

roselleh — Mon, 05 Jul 2010 13:40:37 +0000

I did a ring around a good few brokers last week to get feedback on our new products and to gauge how busy the market was. The last few months have not been great for lending what with the general election and the lack of confidence in the markets and more recently the World Cup and Wimbledon ...

Securitisation still on the back burner

roselleh — Mon, 21 Jun 2010 15:05:11 +0000

Last week I watched Channel 4’s Dispatches programme on how banks appear to have been let off lightly despite the huge injections of cash taxpayers have committed to keeping them afloat. Frankly, there wasn’t anything in the programme that hasn’t already been debated to death in the past ...

Soccer can kick our troubles into touch

roselleh — Mon, 14 Jun 2010 09:32:07 +0000

At last the World Cup has started and we can look forward to forgetting about the woes of the mortgage market for a few weeks. Anyone who knows me will tell you I don’t understand the first thing about football but I will throw myself into the numerous parties, sweepstakes and general banter ...