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crown

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  1. The paper is here http://www.fsa.gov.uk/pubs/discussion/dp09_03.pdf It should be noted that this is a discussion paper which will lead to legislation this time next year. For those who are not aware of the way the FSA works it is this The FSA decide what they want to do, they issue a discussion paper, the industry comments, the FSA issues a consultation paper, the industry consults and the FSA legislates. Very little changes between discussion and legislation. Lenders now know where they are going to be in a years time, they will be adjusting their practices over the next few months. Altho
  2. http://www.lloydsbankinggroup.com/media/pd...dexJuly2009.pdf
  3. The lenders that have the majority of the mortgage market have a SVR of around 3%. Most borrowers coming off their deals are opting to stay on the SVR. As the SVR creeps back up to the long term average, then they will have to take a rate deal of around 5%+ if they have enough equity
  4. yep the housing market is suspended at the moment by the low interest rates. As and when they are increased expect to see the housing market fall further. There is a big difference between a SVR of 2.5% now and the historic average of 7.5%
  5. The Guardian have made the mistake of looking at the Menu given to them and thinking that the maximums quoted are the actual commission payments. For example my Menu says maximum commission of 4% of investment and 0.5% trail or fees of £125 an hour. If I am discussing investing £50k then the fee I would charge would be £1000 which equates to 2% commission with 0.5% trail. If you want financial advice and do not want to advise yourself, you have to see 3 IFAs and negotiate the actual fee/commission that will be charged by that adviser. Using the menu is a waste of time.
  6. This report exposes most of Brown's lies about the state of the housing market pre and post bubble burst. http://www.imf.org/external/pubs/ft/scr/2009/cr09212.pdf
  7. I've only watched the first 10 minutes so far but a couple of observations The initial sales meeting, whilst trying to copy Glengarry Glenross was entirely accurate, I've been in enough in years gone by. I have met many mortgage brokers like this guy, but most mortgage brokers thought they were doing clients a favour by getting them a big loan with enhanced earnings. They did not think that they were preying on anyone, they did not buy lists. Oh and by the way nobody had to 'grease' any palms for a list of dodgy credit names. I was being offered lists like this by reputable companies and w
  8. I have that clip - it will be put into a compilation of his best crazy bits to 'I'm going slightly mad' by Queen
  9. Gordon Brown's best PMQ answer ever - 0% growth Watch it here http://tiny.cc/liar138 he is delusional
  10. Currently there is no problem, but this is another ticking time bomb. I have had many phone calls from clients coming off their fixed rates of around 5/6%. They want a new deal. They can either go onto the SVR of around 2.5% with no fee and no bother or stay with the lender and pay a fee of around £500 and get a fixed rate of around 5% if they have equity. So if they have no equity or don't want to pay a fee their monthly payments will drop. Happy Days Until the lender starts to price up the SVR. My prediction - around September the SVR will start to rise, in time for the FSA to stick the
  11. Liar Loan heaven http://www.moneymarketing.co.uk/cgi-bin/it...h=341&f=342 Former HBOS mortgage chief Michael Bolton has claimed that up to 80 per cent of mortgages lent by the group before the credit crunch were accep- ted without proof of income.
  12. A bit of light relief while we wait for the Euro results Watch it here http://thecrownblogspot.blogspot.com/2009/...faces-lord.html
  13. I'll let Fraser Nelson explain http://www.spectator.co.uk/coffeehouse/367....thtml#comments Labour's planned cuts were so well hidden in the Budget that no Fleet St newspaper either spotted them on the day or spoke about them subsequently. Yet the Institute for Fiscal Studies did pick up on them, and I blogged their discovery at the time. To remind CoffeeHousers: Brown had Darling mislead the House in claiming spending would rise by an average 0.7pc a year in 2011-14. The truth is that it will be cut by an average 2.3pc a year over this period - actual cuts of £22bn a year. Brown has neve
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