UK: HOMES BILL TO BE CHANGED TO PROTECT LENDERS
Article Abstract:
A proposed change to the Homes Bill will help to protect mortgage lenders. This amendment means that lenders as well as buyers and sellers can rely on the information contained in the Home Condition Report (HCR) included in the home sellers information pack. The HCR examines and reports on the property's physical condition and is carried out to a level equivalent to the current Home Buyer's Survey and Valuation. The Homes Bill only allows for the HCR to be carried out by government approved inspectors and allows for complaints to be dealt with and redress given if necessary.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: MOODY'S DOWNGRADES CREDIT RATING FOR LENDERS
Article Abstract:
Moody's Investors Services has downgraded the credit rating for top mortgage lenders in the UK. The credit quality of mortgage lenders has been affected by the endowment mis-selling issue, pressure on the margins for traditional savings and mortgage activities, increased financial knowledge by consumers, and greater competition. Both Abbey National and Halifax now have a negative credit rating. Prospects for smaller companies in the sector, which are concentrating on cost control and profitability, are more optimistic.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: LENDERS ADVOCATE TRACKER MORTGAGES
Article Abstract:
UK mortgage brokers, including Future Mortgages' head of marketing Michael Boulton and Charcol's technical director Ray Boulger, believe that lenders should shift towards tracker mortgages. Bolton says that high street lenders have for a long time been controlling the standard rate for variable mortgages. An HSBC spokeswoman, Tracey Pinon, says that lenders can charge any rate if there is no tracker or guarantee involved.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
User Contributions:
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