Category: AToM

Products on the decrease, but new launches are great!

Overall, market conditions continue to deteriorate and mortgage products are subject to regular review and withdrawal. Between February and March, more than 20% of mortgage products were withdrawn from the market. To put this in context, the number of available mortgage products today are approximately 2,800 compared with 3,500 in February and more than 20,000 […]

The statistics…

I thought this week I would review some ‘interesting’ statistics which have just been released!Credit Action suggests that today in the UK:– 323 people will be declared insolvent or bankrupt. One person every 4.5 minutes. – 2,430 County Court Judgements will be issued– 144 properties will be repossessed– 33,600 applications for credit will be declined– […]

The day of the First Time Buyer…

The great ‘new news’ of the week is that Northern Rock have confirmed their intent to lend over the next 2 years and are to increase their product offerings to 90% of the property value. This shows ambition from the lender in dire times, especially for first time buyers. A spokesperson, commenting in trade press […]

It looks good news, but is it?

The snow invaded and the UK ground to a halt! Although good fun and great to see, the underlying effect amounted to some £3.5bn in lost revenues to businesses, experts have predicted. Add this to an increase in insurance claims (myself being a snow accident statistic!) and you quickly realise it’s been an expensive week. […]

Lloyds Banking Group use power….

The Lloyds Banking Group (HBOS and Lloyds TSB) began to wield their new found power on the mortgage market this week and withdrew all adverse and self certification mortgage products from two of their subsidiaries, BM Solutions and Bank of Scotland.This will have a major impact on the mortgage market, not only because they had […]