News

Mortgage applicants in a market review muddle

Published

12 years ago

May 23, 2014

SEVENTY-EIGHT-PER-CENT of those looking to buy a house in Wales in the year do not know what the Government’s Mortgage Market Review (MMR) is, or how it may affect them, according to a report commissioned by Experian, the global information services company.

The study also finds that nationally, of those that have heard of the MRR:

• 43% think the introduction of the MMR means they can apply with smaller deposits – when larger deposits to make mortgage repayments more manageable, are likely to be needed; and

• 19% believe lenders will have relaxed their lending criteria after April 26 2014 – when affordability checks will in fact become much more stringent

The MMR, which aims to make mortgage lending more responsible and stable was introduced on April 26. However, it does mean that those hoping to borrow to purchase a property will need to show they have considered how they will be able to manage their repayments now and into the future should interest rates rise.

With more than 10% of Britons surveyed saying that they plan to buy a property this year, Experian has launched a dedicated online resource Mortgage Matters, www.experian.co.uk/mortgages, which contains lots of guides, articles and videos to help people make their property dreams a reality. Experian and This Is Money are also giving people the chance to win a £20,000 deposit to help make these property dreams a reality!*

Peter Turner, Managing Director, Experian Consumer Services, UK & Ireland, said: “It is clear that many aspiring homeowners are in a great muddle about the MMR and many more are unaware of the amount of preparation that should be invested in getting your finances and credit history in order before you make any mortgage application. The Mortgage Matters website was designed to help people navigate the mortgage application journey and this amazing prize could really help make a dream come true for one first time buyer.”

For those who have dreams of owning a home, in order to stand the best chance of securing a mortgage – and to get one with the best interest rate – homebuyers need to get their finances in the best possible shape. However, it appears very few potential buyers are doing that.

A fifth (19%) don’t plan on preparing their finances before their mortgage application, while another fifth (18%) only plan on preparing a month prior to their application. Moreover, fewer than one in four (23%) have checked their credit score in the last six months, which would help provide a clear picture of their financial situation and how they are likely to be viewed by lenders.

Of those looking to buy a property:

• Only a fifth plan to make a clear six-month budget;

• A quarter (26%) plan to clear outstanding debt;

• A further 15% plan to pay down any outstanding credit;

• Only a third plan on cutting back on luxuries in the lead up to their application.

Peter Turner continued: “Time spent preparing your finances now will pay dividends in the future. We’d advise potential homebuyers to look at their financial situation as soon as they make the decision to look for a home, and not just before they apply for a mortgage. This will give you the chance to make any improvements necessary and get accepted – and at the best rates, too.

Here are some simple tips from Experian CreditExpert to help you prepare for a mortgage application after the Mortgage Market Review:

1. Know your budget. As soon as you decide to look for a property, scrutinise your last few months’ outgoings carefully to understand your spending habits. Are there things you could do without to finish each month with cash in the bank?

2. Know what you can really afford. Visit a broker or use an online mortgage calculator to work out your likely repayments. Importantly, play with the interest rate settings to see if you could afford repayments if rates rise by 1%, 2% or more.

3. Make sure your credit report is up to date. As well as checking your outgoings, you should also check your credit report, which includes a record of all your borrowing over the last six years. Ensure everything is accurate and up-to-date.

4. Does your Experian Credit Score need work? The Experian Credit Score is a guide to help you understand how a lender might score your credit worthiness. If it’s lower than you expected, ask the experts for help and ensure your credit report paints the best picture possible before you make your application.

5. Build good behaviours. Finally, from now until your application, try to appear like an ideal mortgage borrower. Show you can make it through several months with a slight surplus. Don’t take out additional borrowing and try to demonstrate you can comfortably manage any outstanding credit commitments you have.

News

Questions raised over delayed west Wales express coach as FOI row deepens

Published

13 hours ago

March 27, 2026

Tom Sinclair

Concerns mount over transparency after Transport for Wales delays response on key documents

QUESTIONS are being raised over the future of a long-promised express coach service linking north and south west Wales, after a Freedom of Information (FOI) request triggered a delay by Transport for Wales.

The proposed express route between Bangor and Carmarthen was identified in a Welsh Government-backed business case in early 2025 as a key project capable of cutting journey times by up to 90 minutes.

However, more than a year after a public consultation was held, there has been no clear update on funding, delivery, or timelines.

Now, a detailed FOI request submitted to TfW is seeking answers — including business case documents, internal communications, and consultation results — but the transport body has said it needs more time to respond.

FOI delay sparks concern

In a reply dated Friday (Mar 27), TfW said it was relying on Section 43 of the Freedom of Information Act, which relates to commercial interests, and that it required additional time to carry out a public interest test.

The authority has indicated it will respond fully by April 28.

But the applicant, Dr John McTighe, has challenged that position, arguing that most of the requested information — including meeting dates, consultation documents, and performance data — cannot reasonably be considered commercially sensitive.

He has warned that failure to provide the non-sensitive material promptly could result in a referral to the Information Commissioner’s Office.

Contrast with north Wales rollout

The FOI request also highlights the introduction of the TrawsCymru T51 service between Wrexham and Rhyl, which was launched in 2025 and is set to receive a fleet of new vehicles this year.

Critics argue that while the north Wales route has progressed quickly, the west-coast express proposal — described as a “headline ambition” for improving north–south connectivity — appears to have stalled.

The Herald understands that the Bangor–Carmarthen route was backed by a positive business case and formed part of wider plans to improve long-distance public transport links across Wales.

Transparency questions

The request seeks details of meetings, internal correspondence, and consultation analysis — including the results of a public consultation which TfW said would be assessed using specialist software.

It also asks for information on how passenger numbers and performance data are monitored across the TrawsCymru network.

Concerns have been raised that key performance data, including annual passenger figures and punctuality statistics, are not routinely published in full.

Calls for clarity

The delay has prompted fresh calls for transparency over how decisions are made on publicly funded transport services in Wales.

There is particular concern in west Wales that strategic investment may not be progressing at the same pace as elsewhere, despite longstanding commitments to improve connectivity along the western corridor.

A spokesperson for Transport for Wales said the organisation is considering where the balance of public interest lies before releasing the requested information, and confirmed a full response will be issued by April 28.

The Welsh Government has been approached for comment.

Local Government

Oil spill alert after pollution hits Pembroke stream and Castle Pond

Published

13 hours ago

March 27, 2026

Tom Sinclair

Heating oil believed to have entered water via culvert as investigation and clean-up continue

AN UGENT investigation is underway after a suspected heating oil spill contaminated the Commons Stream and spread into Castle Pond in Pembroke.

Pembroke Town Council first raised the alarm, warning residents of a potential pollution incident affecting the watercourse. Officers from Pembrokeshire County Council’s Pollution Control Team and Natural Resources Wales are now on site working to identify the source and contain the spill.

Further information from local county councillor Aaron Carey suggests the oil likely entered the stream through a culvert near Foundry House, indicating the source may lie somewhere to the south of that location.

The substance is believed to be domestic heating oil. It is not yet known whether the spill was accidental or the result of a possible attempted fuel theft.

Residents in St Daniel’s Hill, South Road and Orange Gardens are being urged to check their heating oil tanks for any signs of damage or unexplained loss.

Witnesses reported seeing a blue-green sheen on the water near the castle side earlier today, raising concerns about the extent of the contamination.

Clean-up efforts are ongoing, and members of the public may notice increased activity around the stream and pond while teams work to manage the incident.

Anyone with information or concerns is advised to contact the relevant authorities.

News

Reform UK candidate quits days after Nazi salute row

Published

14 hours ago

March 27, 2026

Tom Sinclair

Corey Edwards stood in Pen-y-bont Bro Morgannwg and appeared at national hustings shortly before stepping down

REFORM UK Senedd candidate Corey Edwards has stepped down from the upcoming election, just days after controversy over a photograph appearing to show him making a Nazi salute.

The party confirmed on Thursday (Mar 27) that Edwards had withdrawn from the race, citing mental health issues. A spokesperson said: “Corey Edwards has informed us that he is stepping down as a candidate for the Senedd election this May, citing issues with his mental health.

“We wish him well for the future and hope his privacy can be respected at this difficult time.”

Edwards had been selected as Reform UK’s lead candidate for Pen-y-bont Bro Morgannwg, meaning he was in a strong position to be elected if the party secured a seat in the constituency.

His withdrawal comes shortly after a photograph emerged, first published by Nation.Cymru, which appeared to show him performing a Nazi salute. Edwards said the image, taken in 2019, could be “misinterpreted” and claimed he had been imitating either a scene from Fawlty Towers or Welsh footballer Wayne Hennessey, who was previously involved in a similar controversy.

Reform UK leader Nigel Farage said the image “looked terrible” but confirmed Edwards would not be removed as a candidate at the time, describing him as “a human being” and referencing the sitcom scene as context.

Edwards had also appeared publicly as a Reform representative at a national youth hustings event in Cardiff on Thursday (Mar 19), alongside politicians from other major parties.

In a statement, Edwards said: “Like many young people, I have made mistakes. But I am proud of the person I am today and the values I stand for.”

The Herald understands that Reform UK has not yet confirmed whether a replacement candidate will be selected for the constituency.