View more on these topics

CML laying the blame on brokers

Advisers to blame for the ills of the market? Who designed and provided sub-prime and buy-to-let mortgages? Who laid down requirements and underwrote applications? Who carried out searches and made enquiries? Who hoped to profit from the higher-margin lending with these products? Who chased brokers for this type of business? Who is now trying very hard to pass the buck?

J Alan Campbell,

Inglenook FS

Hindsight is a wonderful thing and if, and that is a very big if, it was any fault of the advisers, what have the FSA on their fat cat salaries and bonuses being doing since mortgage regulation? In addition, what were lenders’ underwriters doing? Perhaps Coogan could answer that one when he returns from another planet but he must be careful not to blame his lender pals.

The way forward is to stop the people who do not have a clue in what they are doing with their constant meddling to rules/policies and changes in order to justify their pseudo jobs. In the words of Basil Fawlty, “You know nothing.”

Warwick Tidy,

Tidy Mortgages

Recommended

Remote possibility for lower-net-worth clients

Ascentric says it is hearing from adviser firms that are looking to develop consumer platforms to help them offer an advice proposition to lower-net-worth clients.

KSF IOM to be wound up

The Isle of Man courts have granted an winding up petition against Kaupthing Singer Freidlander seven months after the company was placed under a liquidator provisional.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment