Alexander Burgess is a director of British Money
News last month that the IMF raised its prediction for UK growth from 1.9% to 2.4% was a shot in the arm for the economy. The CML’s predictions for mortgage lending this year was equally buoyant – an increase in gross mortgage lending to £195bn.
This optimism, coupled with a determination from the FCA to ‘encourage’ greater corporate governance and client focus amongst its members and a robust plan from the FOS detailing how it’s going to resolve a record-breaking 320,000 PPI cases, will all contribute to what stakeholders hope will be a ‘momentous year’.
I believe lenders too deserve to have a momentous year. In the absence of any publicised strategies, I certainly hope they answer the FCA’s call for better client focus and give customers options to protect their funds, via insurance, when offering a mortgage.
