Mortgage Strategy
03 October 2011
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AMI board mulls split from AIFA
03 October 2011
The Association of Mortgage Intermediaries is believed to be considering breaking away from its parent, the Association of Independent Financial Advisers.
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Barclays cuts fixes but hikes trackers
03 October 2011
Barclays has reduced rates on a third of its Woolwich fixed rate mortgages, but has increased those on some tracker and offset deals.
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Broker hopes rise as Skipton offers 95% new-build product via Connells
03 October 2011
Brokers have praised Skipton Building Society for its innovative approach to lending after it launched a 95% LTV mortgage for new-build properties.
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Broker takes regulator to tribunal over fine
03 October 2011
Raymond Wagner, the director of London-based brokerage Ambergate Business Services Limited, is challenging a £100,000 fine and ban imposed on him by the regulator for mortgage fraud.
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Brokers can tap into legal services market
03 October 2011
EDDIE GOLDSMITH, PARTNER, GOLDSMITH WILLIAMS
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CAN YOU HAVE A POP TO WIN THIS BOTTLE OF MIGHTY FINE CHAMPAGNE?
03 October 2011
Stephen Wasserman, director at West One Loans, almost sinks a mammoth putt at a recent golf day in Hertfordshire.
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Cases of fraud grow as B2L lending rises
03 October 2011
Recently a helpful fellow from my bank called to say that it was updating security and wanted my log-in information to make the necessary changes.
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Cautious valuations are stifling property sales
03 October 2011
Conservative property valuations are causing house sales to fall through and depressing seller confidence, according to a leading estate agency.
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End of FTB tax holiday will not boost purchases
03 October 2011
The end of the Stamp Duty holiday for first-time buyers will fail to boost the market with a late surge in transactions, according to industry commentators.
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FTBs have best chance in the North
03 October 2011
The North offers first-time buyers the best chance of getting on the housing ladder, Halifax research shows.
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Guidance needed on modern construction
03 October 2011
The government recently announced a review of planning rules to boost house building. Even if it succeeds, the credit crunch has made lenders wary of new-build.
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Help FTBs to kick-start market, CBI urges chancellor
03 October 2011
The Confederation of British Industry has called on the chancellor to announce measures to help first-time buyers in his autumn statement to kick-start the market.
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High net worth IFA firm launches with backing from broker
5 Oct 2011
A high net worth IFA firm is being launched with financial backing from mortgage brokerage Largemortgageloans.com.
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Kensington blames Irish crisis for negative equity
03 October 2011
Kensington Group’s exposure to the Irish market has led to a quarter of its mortgage book falling into negative equity.
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LAST WEEK’S WINNER
03 October 2011
“A new face for the popular board game Guess Who?”TONY BICKNELLT.B. MORTGAGE SERVICES
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Lessons from the US could boost lending
03 October 2011
Having read Paul Muolo’s article in the September 12 issue of Mortgage Strategy I was pleased to read that 30-year fixed products at rates below 4% are on offer for buyers in the US.
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Letter shows interest-only fear is based on ignorance
03 October 2011
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Marketwatch
03 October 2011
It’s a shame Northern Rock withdrew a couple of its broker-only deals but the lender seems on target with service standards. And Skipton’s new-build deal, which probably has a MIG behind it, is a good offering
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Mike Allison takes on partnership role at Paradigm
03 October 2011
Mike Allison has joined Paradigm Mortgage Services as partnership development manager.
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MS Leader: No recovery to celebrate yet
03 October 2011
With mortgage approvals up 6% in August and mutuals also reporting an 8% increase in lending in the month you could be forgiven for thinking that the market is starting to show signs of a recovery.
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Mutuals put higher lending figures down to their competitive products
03 October 2011
Gross mortgage lending by mutuals totalled £2.1bn in August, an 8% increase on the £2bn advanced in August 2010, figures from the Building Societies Association show.
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NBNK's bid for Lloyds branches makes progress
03 October 2011
NBNK is on track with its bid for the 632 Lloyds Banking Group branches up for sale, its interim results for the first half of 2011 reveal.
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Only London bucks price fall trend
03 October 2011
The average house price in England and Wales fell by 0.3% between July and August to reach £162,347, Land Registry data shows.
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Openwork results show it paid out £500,000 in client redress last year
03 October 2011
Openwork paid out £500,000 in customer redress in 2010, its annual results reveal.
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Pink Club revamp to offer new support packages
03 October 2011
Pink Home Loans has relaunched its club for directly authorised advisers the Pink Club. It will unveil a new website, mortgage desk and compliance support packages shortly.
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Property club revival calls for FSA controls
03 October 2011
JOHN HERON, MANAGING DIRECTOR, PARAGON MORTGAGES
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Protection training has come full circle
03 October 2011
MARK GRAVES, SALES DIRECTOR, PINK HOME LOANS
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PTFS results show fall in 2010 profit but network says it is not up for sale
03 October 2011
Personal Touch Financial Services says it is not in the market to be bought after reporting a pre-tax profit of £2.3m for 2010.
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Putting a value on good client systems
03 October 2011
SOPHIE HALL, DISTRIBUTION DIRECTOR, INTELLIFLO
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Rate on Rock's two-year fixed product goes up
03 October 2011
Northern Rock has increased the rate on its 90% LTV two-year fix with a £995 fee from 5.25% to 5.39%. It has also launched two and five-year fixed rate fee-saver options up to 75% LTV and a two-year buy-to-let fix at 70% LTV.
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Redundancy threatens staff as GE aims to restructure its operations
03 October 2011
A number of staff have been placed in consultation for redundancy at GE Money Home Lending.
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Referrals mean more income and less risk
03 October 2011
JASON BERRY, SALES AND MARKETING DIRECTOR, SAFES&ECURE
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Reshuffle at Lloyds sees its national accounts boss quit
03 October 2011
A management reshuffle at Lloyds Banking Group has resulted in Maria Harris, head of national accounts, resigning.
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Rising approvals fuel hopes of a market recovery
03 October 2011
The number of mortgage approvals rose 6.2% in August to reach 108,163, data from the Bank of England shows.By value, the number of approvals rose 5.2%, from £11.6bn in July to £12.2bn in August.
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Secured loan deal up to 65% for B2L clients
03 October 2011
V Loans is offering a secured loan from an unnamed lender to borrowers with unlimited County Court judgements and up to six months’ mortgage arrears. It is aimed at those who need to raise a second charge on a buy-to-let property up to 65% LTV.
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Serious global recession on the horizon
03 October 2011
Optimistic growth forecasts are receding as high levels of debt are being exposed in all countries. The G7 must avoid self-interest and produce policies that acknowledge the global nature of this crisis
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Sub-prime complaints rocketing in recession
03 October 2011
Complaints about sub-prime mortgages have increased by more than two-thirds in the last two years, figures from the Financial Services Authority show.
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The fraud fightback
03 October 2011
Fraud is back in the spotlight after the FSA’s review found lenders’ processes and controls wanting. Although the mortgage industry has taken strides in tackling the problem there is still plenty to do to stamp out this menace.
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The Mortgage Mole
03 October 2011
Donec eris sospes, multos numerabis amicos. Tempora si fuerint nubila, solus eris.
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This month's decision: hold
03 October 2011
Mortgage Strategy’s shadow Monetary Policy Committee is in no doubt given the crisis hovering over Europe. A unanimous vote to hold again, with some even thinking of a cut in the near future
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Truth behind housing equity withdrawal
03 October 2011
A fall in housing equity withdrawal implies people are sensibly paying off their debt in uncertain times. But a closer look at data reveals this is not the case and that the stagnant housing market is the likely reason
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US regulator threatens to take S&P to court
03 October 2011
Standard & Poor’s could face legal action over its role in the financial crisis, say reports. Staff at US regulator the Securities and Exchange Commission are believed to have recommended a lawsuit be brought against S&P over a mortgage-backed security it rated in 2007.
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Why bridging will continue to grow
5 Oct 2011
According to Visit Scotland, major sporting events like the Commonwealth Games and the Ryder Cup are set to provide Scotland with a jobs boost.
