View more on these topics

Boulger backing threeyear fixes for FTBs

Brokers should offer threeyear fixed-rate mortgages to first-time buyers in the current property market, according to John Charcol senior technical manager Ray Boulger.

He told delegates at the Mortgage Business Expo in London last week that there is a better case for taking longer-term deals such as three-year to five-year fixes in the current property market for FTBs wanting a high loan to value.

He also said that tiered rates are better than higher lending charges on shorterterm deals and are more in line with treating customers fairly but added that HLCs can often be cheaper on longer-term deals.

Boulger said that John Charcol has not seen any increase in the number of cases rejected for first-time buyers since the credit crunch took hold of the markets in August. He told delegates to make sure they place a case where it fits best first time.

He also said that he believes the shared equity market will see an increase in popularity. He said: “We already know that Yorkshire Building Society is planning to launch a shared equity scheme next year. I think the market will become increasingly popular over the next two years.”

Boulger said he does not see a problem with interest-only mortgages for FTBs. He said: “As long as the borrower is aware that they need to at some point pay the mortgage back, I do not see a problem with it. It makes sense to pay the most expensive debt back first, like credit cards.”


LibDems call for short-term nationalisation of Northern Rock

Opposition parties have called on Gordon Brown to make an urgent statement to Parliament regarding Northern Rock with the LibDems suggesting nationalisation may be the best way forward.LibDem acting leader and shadow chancellor Vince Cable will table an urgent question today in Parliament calling on the Government to explain itself. He says the least worst […]

On balance

Despite the economy slowing in the first quarter, the US markets still represent good value, especially as GDP is expected to remain stable in the second half of the year and into 2008. It is worth bearing in mind that the US may not be the fastest-growing economy but it is still the biggest and it benefits from the rapid growth seen internationally.

Positive force for change

During casual conversation, I was nominated as a disruptive force by three IFAs at the Personal Finance Society conference. I have thought about that long and hard for the past 48 hours. The reason for the nomenclature? I am opposed to the retail distribution review. I believe it is disruptive and that is why I […]


Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm