The FSA have just published the Turner review (which includes a mortgage market review) – in relation to the mortgage market they are looking into loan to value and income multiples – in fact they are assessing if there is a relationship between customer defaults/bank losses and high initial LTV/loan to income.

The report is due out September 2009 - and it will consider capping loan to value ratios and income multiples.

So what should we make of this? Well the tabloid press had a field day as usual with their tales of doom and gloom but the intermediary association AMI actually welcomed the report in that no formal loan to values/loan income ratios would be rushed into. As usual it’s a matter of wait and see – even though this would have the desired effect of curbing excessive lending we won’t have had much excess anyway by September!

Lending is still taking place however and for those with a deposit, a good credit score, not too many properties and an independent income away from property the world is your oyster!

Tip of the week – New Quote facility.

Since Tuesday we have now added a new facility under the landlords supermarket so you can get a quote online for buildings insurance and rent and legal protection. I know all of you have buildings insurance but how many of you have rent and legal protection? Well I know I have! Having been to court a number of times to evict non-paying tenants I know what it feels like to not get rent for a few months whilst you have to sort it out.

Here’s an example of one of the policies: Legal Expenses & Rent Guarantee (6 Months) - Comprehensive Legal expenses product covering the landlords costs for disputes between themselves and their tenant(s), with rent guarantee insurance up to a maximum of £2,500 per month. This is a 6 month policy and costs just £52.50 – you can find it in our landlord supermarket.

Call one of our advisors today for more information 0845 345 3599