Little substance to mortgage lenders “help” for borrowers

June 4, 2008

houses2.jpgThe trade body for the mortgage industry has written to the Chancellor of the Exchequer. In its letter to Alistair Darling, the Council of Mortgage Lenders (CML) outlines the range of steps that lenders are, apparently, taking to minimise problems borrowers may face in the wake of the credit crunch — and help limit the number of property repossessions. Its members have committed to four “significant specific measures”. These are, in the CML’s own words:

Tuesday’s headlines

April 22, 2008

mail-pic.jpgHere is a round-up of Tuesday’s headlines:

DAILY MAIL: Father of Four Taken to Court and Fined…Because he Overfilled his Wheelie-Bin by Just Four Inches

Media’s take on bank bailout

April 22, 2008

Bank of EnglandThe Bank of England’s 50 billion pound credit swap for banks hit by the global credit crunch leaves a “sour taste ” for the Daily Mail, which accepts it is a necessary evil.

Low-rate party comes to an end

April 2, 2008

houses.jpgFirst Direct has pulled the shutters down on new mortgage business. Albeit a temporary move, it is yet more unsettling news for scores of homeowners coming to the end of cheap deals. Such a move is unprecedented, but perhaps comes as little surprise, given that the lender has been market-leading for quite some time. With pricing more or less 0.5 percent below that of its nearest competitor, the influx of new business that has created a huge backlog is understandable.