TITLE

Introduction of Home Information Packs could lead to higher valuation costs

PUB. DATE
March 2005
SOURCE
Credit Control;2005, Vol. 26 Issue 3, p55
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Mortgage Advice Bureau (MAB) in Great Britain has issued a warning that introduction of home information packs could result in a dramatic increase in costs if lenders don't accept the validity of home condition reports. The Bureau believes lenders may continue to insist on a separate valuation from a chartered surveyor before offering a mortgage decision. Brian Murphy, lending manager at MAB, explained that the MAB has found that lenders are concerned about the level of qualification required to become a home inspector compared to a chartered surveyor.
ACCESSION #
17317856

 

Related Articles

  • Dear DELIA.  // Mortgage Strategy;9/4/2006, p65 

    The article presents suggestions on various mortgages problems as given by two mortgage specialists. According to Brian Murphy, Strategy Manager of Mortgage Advice Bureau, the client scenario does not provide any indication of where the current mortgage is held. According to John Bianco, Head of...

  • Gross lending falls 8% to £10.5bn in February. Brennan, Henry // Mortgage Strategy (Online Edition);3/25/2013, p34 

    The article reports on the decrease in the gross mortgage lending by 8 percent in February 2013. It is noted that February's gross lending figure was the lowest monthly total since April 2012 although the latest figure is 1% higher than that recorded for February 2012. According to CML chief...

  • Are we hearing the rumblings of another mortgage meltdown? Nelson, John // Atlanta Building News eNewsletter;11/ 1/2010, p11 

    The article reports on the recent decision by some large lenders in Georgia to suspend foreclosures which may lead to another mortgage meltdown. The trouble started when a team of robo-signers hired by lenders had signed hundreds of thousands of foreclosure documents without reviewing them. This...

  • GETTING FINANCING FIRST CAN CLEAR PATH TO HOMEOWNERSHIP. Sappenfield, Kate // San Diego Business Journal;3/26/2007, Vol. 28 Issue 13, Special section p34 

    The article offers information on the pre-approval scheme from home loan lenders for home buyers in the U.S. Most lenders are encouraging prospective home buyers to have a pre-approval before shopping for a home. The pre-approval will save time for home buyers and helps make the closing process...

  • Avoid a Mortgage Meltdown. Hutson, Brittany; Garmhausen, Steve // Essence (Time Inc.);Mar2010, Vol. 40 Issue 11, p84 

    The article offers tips to avoid a mortgage meltdown. One advice is explain to the lender in writing what led to the change in income and provide a breakdown of the monthly expenses. Another tip is to request the lender to reduce the monthly payment by changing the terms of the loan. Other tips...

  • Back to the future? Klemmer, Richard // Mortgage Finance Gazette;May2014, Vol. 145 Issue 1778, p37 

    The article focuses on the role of outsourced services in the reviving new lending market in Great Britain. It is noted that the overall British economic climate is clearly positive for new lending compounded by decreasing levels of unemployment and inflation falling below the Bank of England's...

  • How low can mortgage rates go? Dale, Samuel // Money Marketing (Online Edition);6/13/2013, p59 

    The article reports on the fall in two-year fixed-rate mortgages at 60 percent loan to value. It is noted that launch of the launch of Funding for Lending scheme had a big impact on lower LTV mortgage rates although it may not have had a huge impact on net lending. It is mentioned that...

  • Retail Helps Lenders Brand Their Business. Link, Monica // National Mortgage News;9/5/2005, Vol. 29 Issue 49, p33 

    Reports on the use of retail banking operations by top lenders to gain name recognition among the area's residents and businesses in Detroit, Michigan. Aid of names and attractive logos on buildings to expand retail operations while gaining mortgage business from account holders; Consideration...

  • Buy-to-letwatch. Ying Tan // Mortgage Strategy (Online Edition);5/22/2013, p49 

    The article explores issues surrounding the buy-to-let business in Great Britain, particularly the strict criteria imposed by most lenders with regards to the age of their borrowers. It argues that the age of the borrower is irrelevant since the borrower does not repay the mortgage with their...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics