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Credit outlook bleak for mortgage lenders

The credit outlook for the UK’s largest mortgage lenders is bleak following falling profit margins according to rating agency Moody’s Investors Service.

In its annual review released this week the agency says lenders face increased competition, growing financial awareness among consumers and technological advances that allow in low cost competitors.

The agency claims competition has forced lenders to abandon some elements of mortgages which made them most profitable, such as tie in periods and requirements to purchase other financial products.

Furthermore, competition has forced them to raise interest rates offered to long term savings.

The agency also warns that concerns about endowment selling pose a risk to the credit quality of mortgage leaders.

Although regulators do not seem likely to require compensation for consumers mis-sold endowment mortgages media interest in them increases the risks.


Flexi buy to let discount for L&G

Legal & General&#39s buy to let flexi variable discount mortgage is a flexible mortgage which also has a stepped discount over three years. It has a 1 per cent discount in year one, 0.75 per cent in year two and 0.5 per cent in year three. This gives a current payable rate of 6.74 per […]

DBS members rocked as Kempster leaves

DBS Network chief executive and managing director Tony Kempster is leaving the network in a shock departure to be replaced by Assureweb boss David Stewart. The news of Kempster&#39s resignation has rocked the network, with members showing their concern. DBS has offered no explanation for Kempster&#39s resignation and Kempster was unable to comment on his […]

Access the revolution

A few weeks ago in Money Mark eting, I went to great lengths to explain that, by having a website that allows your clients to compare and purchase products online, that securely broadcasts summary financial information to your clients and that is publicly promoted, you can add immense value to your business and enhance the […]

Train on track for investment boutique

Former GT and M&G fund management star Nick Train is to set up a boutique investment house within the next few weeks. The firm, to be called Lind sell Train Asset Man agement, will be a joint venture with former Invesco Global fund manager Michael Lindsell. The firm is expected to launch a UK investment […]

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]


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