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Trustguard has launched a new 90% LTV self-certification range.

They've joined forces with Kensington to give rates from BBR+1.69% for a two year self certified tracker mortgage. This will be offered to employed, self employed, prime 1st time buyers and can be used for purchasing or remortgaging.

The National Sales Manager of Trustguard, Sian Brown was heard to say: "There is a significant gap in the market where these products used to be. Providers have recently deserted this area which has left many brokers unable to meet their client's needs. The availability of these products has diminished to the point where they were nearly an endangered species. It's our hope that our new range of these products will really help brokers supply the demand that is out there."

Trustguard will be offering a two year option at 6.99% fixed and a three year one at 6.89% fixed. There is a completion fee of 1,999 which can be added to the loan above the maximum allowed LTV and there won't be a higher lending charge. The maximum on offer will be 500,000.

The reversion rate will be BBR+2% and borrowers will be able to overpay up to 10% in any one year. Prospective applicants should have no CCJs in the last three years, no defaults in the previous three years, no IVas, never have been declared a bankrupt and have no arrears for the last twelve months.

The keynote speaker at the next Annual Dinner of the Association of Financial Brokers (AFB) will be Philip Collins who is the Chairman of the Office of Fair Trading. This is to be held at the Drapers Hall in London. The Right Honourable John Gummer, MP, who is the AFB chairnman will also be addressing the room. The date of this event is the 1st of July 2008.

Robert Sinclair, director of AFB said: "We are delighted to announce that Philip Collins will provide our after dinner speech. As an acknowledged expert in the area of European and Competition Law, Philip is uniquely placed to provide insights into changes in lending markets, and the forthcoming Competition Commission report on payment protection. It will be a great opportunity to hear, first hand, from the man who governs the OFT."

The FSA's (Financial Services Authority) effectiveness is being questioned by the IMLA (Intermediary Mortgage Lenders Association) after the FSA published it's 2nd stage of the Mortgage Effectiveness Review.

Mr Peter Williams, the Executive Director of the IMLA was quoted as saying "Whilst welcoming the second stage of the Mortgage Effectiveness Review the findings can hardly be described as revolutionary. It's common knowledge that the vast majority of sub prime mortgages are handled by intermediaries which is correct because they are in the best overall position to judge each individual case on it's merits. It's not really news that most borrowers rely on their Broker's professionalism and expertise."

"In many respects the findings are most salutary for the FSA. In terms of the Mortgage Conduct of Business rules (MCOB), the study throws into question the effectiveness of the regime in place and the degree to which it is over-engineered. Hopefully findings such as these will be fully reflected in the MCOB Review and its outcomes."

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