View more on these topics

Brokers predict continued growth in specialist loans

Intermediaries expect the specialist mortgage lending market to keep growing, according to research from BM Solutions.

In its first quarterly survey of the specialist market, brokers said they expected self-cert applications to rise by an average of 3.8 per cent between May and July compared with 3.7 per cent for buy-to-let and 3 per cent for mainstream and sub-prime mortgages.

Despite fears over the impact of FSA regulation, 45 per cent of the 400 intermediaries surveyed said the new regime will not affect their business.

Thirteen per cent think it will give their business a boost while only 10 per cent said it will be detrimental and reduce the number of brokers involved in specialist lending.

The research reveals that 16 per cent of mortgage cases introduced by intermediaries are self-cert, 13 per cent are buy-to-let and 8 per cent are sub-prime. Six out of 10 cases are mainstream mortgages.

BM Solutions says 55 per cent of intermediaries rank interest rates as the most important factor in a client&#39s choice of mortgage while 19 per cent cited lending criteria such as redemption penalties, 14 per cent gave top priority to product features and 11 per cent ranked service quality highest.

Head of mortgages Michael Bolton says: “An area which provides food for thought is the reaction to impending regulation. This is an issue at the top of the industry&#39s agenda.

“Regulation through legislation is a positive move and one in which every facet of the mortgage industry should be both welcoming and seeking an active role.”


Unum in disability initiative

UnumProvident is joining forces with Jobcentre Plus and the Employers Forum on Disability to launch a reference pack advising companies on employing the disabled.The Knowledge – Disability Solutions for Employers puts the case for employing disabled people and gives information about legislation, how to make adjustments to accommodate disabled employees and how to gain access […]

FSA to review overlap between CP121 and mortgage regulation

In its response to mortgage regulation consultation the Treasury has said the FSA will consider the links between the CP121 polarisation review and mortgage regulation.Although there was no mention of polarisation in its consultation document because it concerns the investment market, it says in light of feedback it now recognises the same market failures could […]

John Porteous

Born: Edinburgh in 1970.Lives: Brentwood, Essex, with wife Liz.Career: Left Inverkeithing High School to join Scottish Widows in 1988.Broker consultant with Scottish Widows, Abbey Life and Murray Johnstone until 1998, then joined Robson Rhodes as an IFA. Joined Kingsbridge Financial in 1999.Career ambition:To continue to improve as an IFA.Life ambition: To look over my shoulder […]

Scottish Life sees increase in pensions business

Scottish Life has announced another strong increase in the amount of pensions business it has carried out in 2002.New pensions business increased overall by 37 per cent compared to the year before to £77m equivalent premium income. Individual pensions growth was up 32 per cent at £30m and group pensions increased by 40 per cent […]


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