Here is the latest press for Edinburgh Mortgage.
Friday 27th April. A blog from Telegraph head of finance Ian Cowie, quotes us about the issues facing customer with homes but unable to move their mortgage.
On Sunday 23th April, here are our comments as part of an article on problems for people stuck with Interest Only loans.
On Monday 24th, the CML announced its latest lending figures (for March 2012). A whole range of comments from us, with the Mail picking up most. Below is our full comments we submitted.
http://www.bbc.co.uk/news/business-17811411
http://www.myintroducer.com/view.asp?ID=9782
Our comments in full and the link to the CML release (http://www.cml.org.uk/cml/media/press/3199)
- Hi, if you’re covering the CML mortgage data (March) just out, the following comments from Mark Dyason, director of independent mortgage broker, Edinburgh Mortgage Advice, may be of use:
- “The March spike reflects the flurry of activity generated by the stamp duty holiday. Nothing more, nothing less.
- “Expect the April data to show a big drop-off in activity levels, as the mortgage market falls back to earth with a bump.
- “Stamp duty holidays aside, it’s not looking great for the mortgage market moving forward.
- “Over the past couple of months, lenders have significantly tightened their scorecards. A credit score that would have secured a loan six months ago now has every chance of being rejected.
- “Lenders are being squeezed hard by increased capital requirements, higher funding costs on the wholesale markets due to the eurozone crisis and previous bad lending.
- “Even if they did want to lend, many of the banks wouldn’t be able to anyway. Many of the big lenders are in an almost impossible position and borrowers are feeling it.
- “With SVRs and offer rates going up across the board, we are seeing an increase in people looking to remortgage onto longer term fixed rate products.”
- “If you have a good chunk of equity or a big enough deposit, you can get five year fixed rates as low as 3.89%, which is quite something. If you have a very small deposit, if your could be double that.”
- “It may seem an extreme measure but for the mortgage market to return to normal the Government could do worse than sell the likes of RBS and Lloyds, which will remain zombies until they are given renewed life through a massive capital injection.”
