2013 has been a pivotal year in the mortgage market – final rules for MMR, new regulatory bodies with the PRA and FCA, house sales and mortgage sales starting to rise, a new Governor of the Bank of England, controversial government initiatives and as the
year ends, the EU Directive vote is passed and brings more work for lenders and regulators in 2014 and onwards.
What will 2014 bring? With MMR commencing on April 26th lenders will be racing to have compliant systems, processes and policies ready. I’m sure that further changes and system updates will occur later in the year and unintended consequences will appear
– as sure as Taxes and that hooded figure with the scythe.
January
Good News Britain: Homeowners confident of house price rises in 2013 - Could only wish Banks shared the same sentime…http://twy.la/YRluvz
BTL still the mortgage winner - Is the mortgage freeze about to thaw? http://bbc.in/UE3hWh
Is anyway to get on the rung a good way? A clever way to cope with high house prices or an expensive mistake?… http://twy.la/11uySLW
Social Media Banking gets serious: Finextra: US rulemakers set sights on bank social media activities http://twy.la/14catJM
The dark side of FLS - Emma Simon: Only the banks are benefiting from the FLS | Money Marketing http://twy.la/TwxCpx
Using the internet to buy a home: Websites and apps to help http://bbc.in/WRuPUf
Newbuy starting to work - Milestone reached for NewBuy scheme - MSN Money UK
http://twy.la/10W4UBh
Lenders running scared of non-advised sales - Sinclair http://twy.la/10IxSyW
February
What are the odds? That watchdog will say interest-only loans were not miss-sold? | This is Money http://twy.la/YeUYxn
George Osborne: Threatens to forcibly break up banks that break the rules - had to be a Mail Headline http://bit.ly/Xa2Nnj
First or last Aid? How to stop a 'ticking time-bomb' interest-only mortgage from detonating | Mail Online http://bit.ly/X2CuhZ
Positivity from Monty - Andrew Montlake: Mortgage market could be cushty in 2013 | Opinion|Money Marketing http://bit.ly/X2DgeL
Big lenders' tick box approach is forcing customers elsewhere - Computer say no myth
http://twy.la/XzISfQ
39% of interest-only borrowers have no plans to clear debt The housing market BOMB
http://twy.la/Uee6wT
Where does this leave FTBs? Buy-to-let mortgage mini-boom last year with lending up by a fifth | Mail Online http://twy.la/XSOmV7
Mortgage payments represent a third of all household spending - many at risk if rates rise
http://twy.la/ZopvgD
March
Is FLS working? FLS falters as Bank of England figures show fall in net lending | Mortgage Strategy http://bit.ly/WDibHK
Generation rent: why aren’t more first-time buyers joining the property ladder? | Simon Read | Independent http://ind.pn/Z6ehuO
Coutts - not just the Queen's bank, but social banking queen - Facebook, Twitter, LinkedIn, blog and on-line portal http://bit.ly/Z0yMZP
UK housing market is stuck on the second step, let alone first step... Telegraphhttp://bit.ly/Y4lueE
Scoring consumer affordability — MMR income-expenditure rules can be electronic MFG Online http://twy.la/12HPFNt
Good Regulation news: UK wins ground in European mortgage directive negotiations | News|Mortgage Strategy http://bit.ly/YK9VbZ
Good review of Equity Release. Whose house is it anyway? The equity release empire strikes back – Telegraph Blogs http://bit.ly/ZGAVs5
Remortgage via Help to Buy plan - move to a cheaper lender with helpfrom the Gov. | The Sunday Times http://thetim.es/10BnwnD
Q&A: Will Help to Buy work? - Will affluent buyers cash in, or buy 2nd homes? http://bit.ly/11yVCHL
April
Yet again #mutuals upping their lending - mortgage lending by mutuals grows further in February — MFG Online http://bit.ly/XVaNbF
Paying off the mortgage for a year takes 103 days - an interesting view on the cost of owning a home. http://bit.ly/12cqm3l
Questions remain over Help to Buy scheme - Sensible messages from Andrew Baddeley-Chappell @NationwidePress http://bit.ly/11klHuS
RT @WhichMoney: As Co-op pulls out of deal to buy 600+ Lloyds branches, here's its statement: http://bit.ly/14Of4pv …
EU mortgage directive contents agreed - UK Exemptions to include BTL, shared equity & retention of the much loved KFI http://bit.ly/Zignsu
What becomes of the broken-hearted? As one would expect borrowers see no value in trackers - fixed is king http://bit.ly/ZmlbNJ
Help to Buy aims at wider audience - detailed analysis of HMG #mortgage policy from Nationwide, food for thought http://bit.ly/YTLU0e
MMR: a year to go! So how are lenders faring? CML news & views
http://bit.ly/Zmsipa@cmlpress
May
Interest only mortgages - Consumer research 90% of Interest Only mortgage holders say they have a repayment plan http://bit.ly/ZoKgE4
#2020 - average interest only mortgage shortfall £56,000 according to FCA, get a plan with your #mortgage lender now
'Help to Buy' scheme has the potential to re-ignite housing market bubble, warns Fathom Consulting http://bit.ly/11NDXf3
Building societies dominate lending to first-time buyers — Mortgage Finance Gazette Onlinehttp://bit.ly/124ZEqT
FCA regulator to collect and share mortgage borrowers' personal data - a proactive move by the new body Telegraph http://bit.ly/12G9pwl
Positive #mortgage news from MAB Mortgage applications up 54% year-on-yearhttp://bit.ly/161eRA7 @MAB_Updates
The regulator replies: FCA answers your questions - 10 good questions the answers......Citywire http://bit.ly/167X4Hp
Finextra: Social media spending by banks plateaus as interest wanes - but Denizbank leads the social charge http://bit.ly/10BNgkC
June
Mortgage lenders need to cater for the iPad generation, even as regulation tightens.
http://bit.ly/110dvkQ‘tab’-revolution/ #mortgage #MMR
Government prepares to shut down help to buy cause house price bubble | This is Money
http://bit.ly/17lZ7Ip
Consumer Driven Innovation - read my latest blog on the twin challenges of MMR and consumer driven innovation http://bit.ly/1bZXDQY
What would an EU exit mean for the mortgage market? | Analysis | Money Marketing
http://bit.ly/122Lb17
Mortgages only one in 200 can understand: This is why most people need advice ! Mail Online http://dailym.ai/122KZ27
Surveyor shortage is threatening to derail house sales - also discussed at recent CML session, a real market risk http://bit.ly/1ch8Uwp
South-east sees largest swing from homeownership to renting | Money | http://bit.ly/12pTeoZ
July
Hollywood Mortgages - How Barclays made the Great Escape - David Finlay
http://bit.ly/18jXzOQ
Should the PRA consider type of lending? Barclays says PRA targets could force lending cut | Reuters | http://reut.rs/17yFY2N #regulation
Are government home schemes joined up & will they work? Help to Buy: Well-intentioned but impact is yet unclear http://bit.ly/12Bxcj9
We will jail top bankers who ask the taxpayer for a bailout, Osborne vows - How about failed politicians? http://dailym.ai/18KjcYW
'Rent to buy' won't fix home ownership - good insight from Hannah Fearn on social housing schemes @guardian http://bit.ly/12qoyjn
Betting on MIG - Fund predicts UK remortgage market could ''rapidly grow'' on back of MIG Help to Buy @mortgagestat http://bit.ly/12FWrNs
Four questions you must (but possibly wouldn't think to) ask your mortgage lender
http://bit.ly/16d3MY7
Time to re-furbish the kitchen - Mortgage rate falls: 'Best time to remortgage in six years' - Telegraph http://bit.ly/13yzewS
August
If only the government would listen - Mortgage rescue - the Spending Review sound of silence http://bit.ly/16WJyC8 @cmlpressoffice
A painful truth for many - Julian Knight: Home truth is your house may not be much of a pension - The Independent http://ind.pn/14cFuyJ
House price rises mean 40% of buyers face minimum stamp duty bill of £7,500 by 2018 | This is Money http://bit.ly/1dyM9Yl
Safer versions of Interest-only mortgage deals return amid bank price war http://bit.ly/14YgKHL
House building: Road blocks | The Economist http://econ.st/14dkpS9
September
Think tank slams Help to Buy: "government is the housing crisis" - Build more homes is the "real" answer http://bit.ly/17IgCSZ
When is a bubble not a bubble? It is too early to call a housing bubble http://thetim.es/19h6H47
Help to Buy: If we want new homes lend money interest-free to builders not buyers Your thoughts? http://bit.ly/17ROpsY
Lenders predict broker market decline post MMR - Industry in depth - Mortgage Introducer UK http://bit.ly/15VWJRI
High street lending bounces back - but mortgage process slows down | Financial Reporter http://bit.ly/14Leowi
FCA: Third of industry behind on MMR preparations - what are your concerns, systems, processes or people? http://bit.ly/1a0B7bi
Where next the UK Mortgage Market? View my blog on FInextra http://bit.ly/1bcNPVF @finextra
Don't buy votes with reckless loans, Dave. Why has Help to Buy 2 been rushed out the door? | Siobhan Kennedy http://bit.ly/1bkLJTw
October
"This breaks the link with building new houses, potentially boosting demand but not supply."
http://econ.st/GCLAzM #helptobuy
The Help to Buy Part 2 is a Marmite scheme for a Malteser market http://thetim.es/GCMc8L - sweet or sour?
The gap between incomes and house prices widening, putting even a 5 per cent deposit out of reach of many FTBs. http://ind.pn/GH42rO
Osborne Boosts Mortgage-Boosting Plan as Concerns Remain - 6 lenders join, but will it have unintended consequences? http://bloom.bg/GKIAS2
"Most home seekers are confused by Help to Buy, and a quarter are disappointed with the government schemes." http://bit.ly/19DI0Pd
"77% think urgent action is required to make housing more affordable" http://bit.ly/1gK2bjr Doh! as Homer would say..
"Interest-only lenders refuse to detail options for struggling borrowers" What information was given during the sale? http://bit.ly/1iou6U6
"Are UK lenders more Eddie the Eagle than Usain Bolt when it comes to speed?"
http://bit.ly/16KrLTM
November
Top things every first-time buyer should know >>
http://t.co/hFcZjy8kVo guest post from @YourMoneyAdvice #tips
"Why is Govt pushing unregulated advice for Help to Buy?" http://bit.ly/HKRW1K Boulger on the money with his review of HTB 2.
"Lloyds says MMR could leave to fewer mortgage products" http://bit.ly/HKS7di
Simpler products will be welcome, especially execution-only.
"MS poll - 68 per cent of respondents believed lenders are too strict when it comes to lending to the over 60s." http://bit.ly/1dkWrtz
"Will politicians never learn? The Government’s Help to Buy scheme is sub-prime mortgages all over again" - Discuss! http://ind.pn/1dl84AM
32% of brokers unprepared for MMR having made no changes | Financial Reporterhttp://bit.ly/18wdipL
"Nationwide boldly goes where JPMorgan failed to tread - the Twittersphere !"http://bit.ly/18Ir6NY
"Growing pressure to scrap stamp duty in Autumn statement" Where will the tax gap come from? http://bit.ly/18pOENq
December
"New study shows 3% stamp duty threshold causes sales to drop 89%" http://bit.ly/IGFb82
"Help to Buy helped to boost house building but policy should focus on areas where there are plenty of spare homes" http://bit.ly/18hvM0z
"Boulger: EU mortgage directive is 'lazy and uneducated'" Headline aside, some pointed observations. http://bit.ly/18FqcW1
"MMR may herald return of dual pricing" - can be a difference of 1.45 per cent between direct and indirect deals. http://bit.ly/JewC4N
"The EU Mortgage Directive is like a blunt pencil. Pointless." Discuss http://bit.ly/1c0F42x
London accounts for more than 25% of all mortgage loans - no surprises then?
http://bit.ly/1i2s3tb
"New rules hardwire in a more risk-averse lending environment for the future" MMR to dampen market - Bob Pannell CML http://bit.ly/1jlAlxV
"Number of mortgage products available up 37.5% in a year" Over 12,000 products - is this good for consumer choice?
http://bit.ly/1hnW8k9