Resources for Basel II Capital Accord (Basel II)
Brokers confused over Basel II
www.mortgagesolutions-online.com The vast majority, (87%), of mortgage intermediaries have never heard of Basel II, according to research from Astra Mortgages.
Basel II allows lenders to tailor the amount of capital they put aside for each mortgage depending on the probability of the borrower defaulting. This equates to better mortgage rates for lower risk borrowers and can therefore be of great benefit to customers and intermediaries.
In addition, 82% of the 87 mortgage advisers who were polled during February 2008, did not know which lenders had model recognition under Basel II.
Of those that had heard of Basel II, the majority (71%) felt lenders would use the benefits it brought to improve their margins rather than to improve customer deals.
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