It has been a dismal World Cup for the average England supporter, but whilst the Scots rejoice in our misfortune, we can reflect on the fact that with every negative there is a positive and lessons to be learnt for all of us.
So what can a bunch of overpaid, oversexed and overinflated egotists teach us all? The answer is simple. In order to deal with adversity and to move forward it is the team that is more important than any one individual, no matter how talented they may feel they are.
We are finally on the cusp of the General Election with the outcome still not assured and whilst there are a few other trifling matters for the politicians’ to worry themselves about, (apparently we owe someone a lot of money for example), there are some other issues in the mortgage market that are provoking much discussion.
The main issue is around the nature of advice, especially with the news that Tesco, yes Tesco that well known bastion of professional independent advice, aim to enter the mortgage market. The question to ask therefore, is should mortgages be put on the same shelf as the weekly vegetables?
The latest rumblings of discontent around the financial community have been centred around the issues that beset Dubai, the land where dreams have been built, quite literally, in the sand.
Unfortunately, the sand seems to be capricious ground at best, and another wave of banking losses have been predicted, with reports of anything around the $40 to $50 billion level being the amount that European banks are exposed to. Then again what’s this piddly amount between friends after the recent figures we have seen bandied around?
Forgive me people for I have sinned! It has been far too long since my last confession, sorry, I mean blog post! In the meantime I have been through quite a bit, what with turning 40 yesterday (I know I don’t look it), and experiencing the general ups and downs of life and the mortgage industry, (more in a separate posting).
I have been paying alot of attention to the mortgage and financial press as you would expect, reading with both amusement, hearty agreement and utter despair some of the comments with regards to FSA regulation, self-certification, the behaviour of lenders and brokers, the proposed breakup up of some of our much maligned banking institutions, whilst also watching the pleasing plethora of new rates flooding the market.
A week may be a long time in politics, but in the lending market at the moment a week can represent a complete transformation in product choice that would normally evolve over a long period of time.
In a short space of time we have seen the return of some welcome elements of competition which, together with a fall in the cost of funds, has pushed product rates down. Some lenders, such as a re-invigorated Woolwich, have cut their rates by up to 0.6%, whilst others such as a totally reformed Northern Rock, have made an aggressive play to dominate the Best Buy charts.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it.
Coreco Group Limited is an appointed representative of the following companies which are authorised and regulated by the Financial Services Authority for advising on and arranging the following: Mortgage Advice Bureau Limited for mortgages, Mortgage Advice Bureau (Derby) Limited for insurance.
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