This week’s first comment came from: Bellway to reduce headcount and housebuilding as high mortgage rates hit demand

Terry Arch said: “This was bound to happen. Other large builders will follow the trend whilst interest rates remain high compared to recent years. However, the current rates were indicative of previous years, but the houses were less expensive, and salaries were lower.”

This week’s second comment was in response to: The mortgage sector ‘mistakenly correlates higher price with customer unfairness’ ‒ Star Letter 04/08/2023

Tony Silver said: “Unfortunately, many of those commenting on the way we price our products and services, don’t understand the correlation between cost and risk. We in the industry however do understand that the higher the risk, the higher the cost.

“Second charge loans are more risky than first charge, because the charge on the property sits behind the first charge. Therefore, in the case of default, the first charge lender gets first dibs with the second charge lender fighting over the scraps.”

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The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions