Tag: Paul Broadhead

Consumer confidence in home purchase dropped in September, with the BSA’s Property Tracker Index has found.

Katie Davies, executive director at IMLA, challenged the FCA on both these points, arguing that consumers don’t want to, and don’t need to, be able to compare brokers.

Retirement interest-only mortgages are a welcome addition to the later life lending space but there should be a closer alignment between the products and equity release options so consumers get more holistic advice, trade body representatives at FSE London concluded.

Paul Broadhead, head of mortgage policy at the BSA, said that he doesn’t think its required and listed rules and regulation already in place such as the banking conduct and business rules in 2009 and MMR in 2014.

In total 59 lenders, representing 93% of the market, agreed to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are ineligible to move to an alternative product provided by their lender.

The trade body revealed that in the first quarter of the year there was £53.7bn worth of product transfers, with £29.5bn being advised and £24.2bn execution-only.

Seven in 10 (70%) of Brits think the difficulties young people have getting onto the housing ladder is one of the biggest problems we have in Britain today.

As it stands more people think it’s a bad time to buy (27%) than good (23%), as two in five (40%) are worried about the rising cost of living and over a quarter (28%) about saving for the future.

Raising a deposit continues to be perceived as the single biggest barrier to home ownership.

Due to high house price inflation, tighter credit conditions and low wage growth people are expected to only buy their first home in their late 30s and 40s – and with longer mortgage terms to boot.