Mortgage Strategy
10 February 2003

  • 1st Software appoints provider relationship manager

    13 Feb 2003

    1st Software, leading suppliers of integrated technology solutions for financial advisers and intermediaries, has appointed a provider relationship manager, Mick Harris. Harris was previously the business development manager responsible for new business and policy servicing strategy at The Exchange. He had been with The Exchange since it was formed over 10 years ago, during which time he was responsible for building client relationships with national IFAs and product providers, ...

  • Abbey National cuts its mortgage rates

    13 Feb 2003

    Following the Bank of England's announcement to reduce its base rate from 4.00% to 3.75%, Abbey National has decided to cut its standard variable rate by 0.15%, to 5.79%. The new rate is effective from February 13 for new business and from early March for existing customers. This cut in Abbey National's standard variable rate by 0.15% means that borrowers on a typical £100,000 interest-only mortgage will benefit from a reduction of £12.50 in their monthly ...

  • Apathy remains curse of the financial classes

    10 Feb 2003

    Almost half of consumers are aware that they could swap to a better deal than their existing financial products. Men (52%) are worse than women (37%) in terms of knowing of a better deal exists, but doing nothing about it, while saving accounts appear to breed the most apathetic consumer with 50% of account holders aware that a better account exists. The research, conducted by Egg, revealed mortgage holders to be the most fleet footed, with a third planning to move between ...

  • Best Advice Mortgage Network appoints new broker liaison manager

    14 Feb 2003

    Best Advice Mortgage Centre, the Newcastle-upon-Tyne based broker packager, has appointed Melanie Crews as its new broker liaison manager. Crews will be responsible for communicating with brokers and letting them know of any changes that are taking place within the Best Advice organisation as the Best Advice Mortgage Network is launched. Crews joins from High Street Home Loans, where she was an underwriter. Her responsibilities at High Street Home Loans included staff ...

  • Birmingham Midshires creates new call centre jobs

    10 Feb 2003

    Birmingham Midshires has created 40 new telephone-based savings accounts jobs at its Wolverhampton-base. The additional positions have mainly been created to support the handling of new account openings and customer transactions for its highly successful Telephone Plus account. The telephone-operated account offers savers up to 4.25% gross, subject to terms and conditions, with a minimum opening balance of £1,000. Birmingham Midshires is embarking on ...

  • British homeowners failing to take out mortgage payment protection

    11 Feb 2003

    Barclays has warned that almost 10 million homeowners are failing to make adequate financial provision against the risk of unemployment, despite increasing economic uncertainty. Eamon Slevin, general insurance director at Barclays, says: "With house prices still on the increase people are in danger of putting themselves under enormous financial pressure. With 500 people becoming unemployed every day it is essential people do not bury their head in the sand and think it won't ...

  • Buoyant North boosts Leeds & Holbeck results to record levels

    13 Feb 2003

    Leeds & Holbeck achieved growth in every area of its business to achieve a record year in 2002. The highlights were: ? Assets up by 17% to a record £4.85bn ? Pre-tax profits up by 12% to a record £34.7m ? Mortgage lending up by 45% to a record £1.33bn ? Savings balances up by £221m to a record £3.4bn ? Non-interest income up by 19% to a record £19.5m ? Reserves increased by £27m to a record £260m ? Interest ...

  • Business is booming at Standard Life Bank

    13 Feb 2003

    Standard Life Bank has announced strong year-end results showing business is booming and placing it ahead of plan and well on track for profitability in 2004. Anne Gunther, chief executive of Standard Life Bank, attributed improved financial results to growth of new business, great customer service and outstanding business quality. In the financial year ending 15 November 2002, Standard Life Bank generated over 28,000 new mortgages totalling £2.9bn. A further ...

  • Buy-to-let sees regional changes

    11 Feb 2003

    The average buy-to-let mortgage loan fell sharply in prime central London and rocketed in Scotland and Northern Ireland, ARLA says. In the survey of buy-to-let trends for the last three months of 2002, carried out for the ARLA panel of mortgage lenders, the average loan in prime central London fell 22.5% from £198,800 to £154,100. However, in the rest of central London average loans rose by 4.9% to £146,600 and in the rest of greater London they rose by 3.0% ...

  • CML figures back Savills Private Finance's call for abolition of MIG

    12 Feb 2003

    Savills Private Finance is calling for the abolition of mortgage indemnity guarantee following the publication of figures by the Council of Mortgage Lenders showing arrears and repossessions at a 20-year low. With MIG, the borrower pays a premium to provide the lender with insurance should the borrower default on his/her payments. MIG does not prevent the borrower remaining personally liable for any outstanding debts. According to the CML figures, arrears and possessions ...

  • Commercial First joins NACFB

    10 Feb 2003

    Commercial First has agreed to become a patron of the National Association of Commercial Finance Brokers. The deal is the first of its kind to be signed by the company and will enable it to use NACFB members as part of its growing army of distributors. Sales and marketing director Stephen Johnson says: "Strategically this is an important alliance for Commercial First. NACFB is a respected name in the market because it stands for best practice. "We want to be ...

  • Commercial property investment permitted in Small Self Administered Schemes

    12 Feb 2003

    The Inland Revenue yesterday announced that contrary to the interpretation by most industry observers, it was not the IR's intention to disallow commercial property investment by Small Self Administered Schemes. This was announced by Peter Hopkins, leader of the Inland Revenue pensions simplification review team, at last Thursday's Taxbriefs Tax, Savings and Pensions Conference. He acknowledged that the Inland Revenue is still in the process of developing its thoughts and ...

  • DIY spend down as homeowners tighten belts

    10 Feb 2003

    Spending on DIY by UK homeowners could fall by as much as 10% over the next three months, housing forecasters believe. Latest findings from Alliance & Leicester's movingimproving index suggest the average property owner plans to spend £1,126 on home improvements in the coming months - down 10% from autumn 2002, when average spending was £1,239. DIY spend is also down 10% year-on-yea, compared to January 2002's intended spend average of £1,243. The ...

  • Early repayment advice for offset mortgages

    14 Feb 2003

    Figures released yesterday by Intelligent Finance show that with an offset mortgage where someone lives can make a big difference as to how early they can pay off their mortgage if they have it linked to their savings and current account. Top of the league in terms of early repayment is Scotland, where the average house price is £71,799. Anyone with industry average savings of £6,219 and a 25-year standard repayment mortgage for 71% (LTV) of the house price, will ...

  • Enterprise signs up for SDS technology

    10 Feb 2003

    London-based packager Enterprise has implemented financial services technology provider SDS's 'SDS Maps' application. Enterprise has now completed the implementation of SDS' service which customises form design, process flow, and documents. Michael Clapper, managing director of Enterprise, says: "We selected SDS for their unique experience in working with mortgage packagers and their impressive list of satisfied clients. SDS clearly understands the mortgage ...

  • Final regulation timetable announced

    13 Feb 2003

    The Treasury has confirmed that regulation of both mortgages and long term care insurance will come into effect on 31 October 2004, and that general insurance regulation will come into force on 14 January 2005. Ruth Kelly, Financial Secretary to the Treasury, says: "In light of the significant delay in publication of the EU Insurance Mediation Directive, general insurance regulation will now come into force on 14 January 2005. This will allow sufficient time for the FSA and the ...

  • First Advice appoints new mortgage marketing manager

    12 Feb 2003

    First Advice, a new Manchester-based financial services company, has just appointed Jane Childs as home propositions marketing manager. Childs has over 12 years experience gained in the marketing in the financial services at Bradford & Bingley and Scarborough Building Society. She says: "I am attracted by the challenge of looking at homebuying in a completely fresh way - not just supplying the best mortgage but giving customers real added benefits such as helpful advice on looking ...

  • Forget Valentine's Day at your peril, says cahoot

    12 Feb 2003

    The nationwide cost of forgetting a gift for Valentine's Day is £167m, with stupid cupids paying over the odds in order to seek forgiveness for missing the big day. On average, half of those surveyed are willing to pay up to 50% more than their original budget in order to ease the feeling of guilt and make up with their partner. The research, carried out by cahoot, Abbey National's interactive bank, found that the majority of us (65%) spend less than £20 ...

  • FSA examines risk of investing in property funds

    12 Feb 2003

    The FSA has launched a project to look at the risk to retail consumers from investing in property funds. The project was announced by FSA chairman Howard Davies in a speech yesterday at the Schroders/Property Week Conference. It examined the nature of property funds currently being marketed, the information available about those funds, the risks in each category, and the extent to which financial advisers understand and properly advise on this type of investment. It ...

  • FSA fines Bank of Scotland £750,000 over admin of PEPs and ISAs

    14 Feb 2003

    The Financial Services Authority has fined the Bank of Scotland £750,000 for the failure of its PEP/ISA department to administer customers' funds appropriately. This put 30,000 PEP and ISA customers at risk of losing money and also exposed BoS to increased risks of fraud. From November 1999 until August 2001 problems with BoS systems used to administer PEPs and ISAs meant that the bank could not be sure how much money it was holding on behalf of individual customers. ...

  • FSA proposes streamlined information for consumers

    11 Feb 2003

    The Financial Services Authority wants consumers to find it easier to identify, understand and compare key information before buying investment products. Under proposals put forward yesterday, a concise, jargon-free document called Key Facts would replace existing information that consumers receive before buying products such as unit trusts and pensions. The main proposals on which the FSA is consulting are: ? The document will have a new Key Facts logo and ...

  • Genesis makes waves with new product

    10 Feb 2003

    Genesis Home Loans has released a fixed rate product to add to its 'Great Lakes' range. Continuing the growth of its new Lakes & Rivers range, Genesis Home Loans - a member of the recently formed Mortgage Packagers Co-operative - has released its latest product. Genesis Victoria, a five-year fixed rate at 4.59% until April 30 2008 has no extended tie-ins at the end of the fixed rate period, with redemption charges of 7% (up to April 30 2004), 6% (up to April 30 ...

  • GMAC-RFC completes £75m portfolio sale transaction

    10 Feb 2003

    GMAC-RFC has completed a portfolio sale of mainstream mortgages, buy-to-let and self certification loans worth £75 million. The 'whole loan' sale was acquired by North Yorkshire Mortgages Limited, and the loans will be managed by Specialist Mortgage Services Limited, a leading third party mortgage administrator. The transaction reinforces GMAC-RFC's position as the UK's leading 'creator and trader' of mortgage assets, and is its seventeenth portfolio ...

  • Goodfellows survey uncovers loan protection racket

    11 Feb 2003

    A survey by insurance broker Goodfellows suggests a multi-billion pound scandal over insurance sold with personal loans. The broker claims that loan providers are cashing in on a lucrative insurance sideline, selling policies that they claim will protect borrowers if they fall on hard times. Sales are running at 1,000 policies an hour and lenders are making £10m a day in premiums. But Goodfellows says that because of misleading sales techniques by lenders, thousands ...

  • Halifax cuts fixed rate

    12 Feb 2003

    Halifax, the UK's largest lender, will cut rates on its fixed rate mortgages by up to 0.65% on Thursday February 13. The two-year fixed rate mortgage at 3.79% is the lowest ever fixed rate offered by the Halifax. Philip Hanson, head of mortgages at Halifax, says: "Base rates are now at their lowest level since the 1950s and both current homeowners and prospective buyers have been keen to take advantage of these favourable conditions to fix their monthly mortgage ...

  • HBOS cuts SVR 0.10% across five brands

    10 Feb 2003

    The HBOS group has passed on a reduction of 0.10% on standard variable rates across the company's five brands. Following the Monetary Policy Committee's decision last week to reduce the bank base rate from 4.00% to 3.75%, the 0.10% cut will be transferred to HBOS' five mortgage brands - Halifax, Bank of Scotland, Birmingham Midshires, The Mortgage Business and Intelligent Finance. The reductions will come into immediate effect for new applications and from ...

  • Holidaymakers escape the rain with the One account

    13 Feb 2003

    A growing number of Britons are now using their home to pay for their annual family holiday. Research by the One account shows that, with the average family fortnight in the sun costing £1,480, more customers are using flexible finance such as current account mortgages to cover their annual trip abroad. Families, eager to take advantage of the early season bargains, are already eyeing up the offers in the travel agent's window. And many are increasingly looking ...

  • House price rises 'to drop to zero', says BoE

    13 Feb 2003

    Britain's property boom is past its peak and house price inflation will fall from its current 25% to zero over the next two years as consumers grow more wary, the Bank of England has predicted. Justifying last week's surprise reduction in interest rates to their lowest level since 1955, the bank said the move was a pre-emptive strike to bolster growth in the face of a slowdown in consumer spending, the crash in share prices and the prolonged weakness of the global economy. ...

  • Housing market index highlights the North-South divide

    14 Feb 2003

    More than one in three Britons (37%) believe that house prices will continue to rise over the next three months, The Mortgage Lender's Property Pulse Index says A further 29% of those questioned believe house prices will stay the same, while less than a quarter (23%) predicted that they would decrease. However, around the regions, Londoners are showing the first signs of wavering, with more than one in five people in the capital (22%) saying that they have no idea ...

  • HSBC's special offer for prospective franchisees

    14 Feb 2003

    HSBC has negotiated a special deal with leading specialist franchise lawyer Nina Moran-Watson to vet franchise contracts for a reduced fixed fee of £350 (including VAT). Under the Fixed Fee Vetting Scheme, Moran-Watson will examine the franchise contract, which sets out the rights and responsibilities of both the franchisee and franchisor, and ensure prospective franchisees are fully aware of their obligations and any possible penalties. While it is unlikely that ...

  • IF decides on 0.1% reduction in savings rate

    11 Feb 2003

    Intelligent Finance is to reduce its savings rate by 0.1%. Grenville Turner, chief executive at Intelligent Finance, says: "Customers are already benefiting from our unique offsetting principle, ensuring their money works harder. Where else is it possible to get an effective rate of 5.94% for doing no more than having some savings offsetting your mortgage?" Following Thursday's announcement by the Monetary Policy Committee to reduce the bank base rate by 0.25%, Intelligent ...

  • IFS launches general insurance qualification

    11 Feb 2003

    The Institute of Financial Services is launching the Certificate of Regulated General Insurance, a qualification aimed at people working in general insurance. Developed from a module which the Institute introduced in 2000, CeRGI will help individuals and employers meet regulatory requirements for training and competence. A key feature of the qualification is the ease of entry and examination, with students able to book their examinations just a few days in advance of ...

  • It's tough keeping up with the Zeta-Joneses, says Abbey

    12 Feb 2003

    With the average wedding now costing around £14,000, many couples will have to prolong their engagement while they save up for their dream day. According to research from Abbey National Personal Loans, eight in 10 people (79%) think that weddings suffer from the 'keeping up with the Joneses' effect and that there is pressure on people to have a lavish affair. As a result, many couples are spending years saving up for the big day. A third (33%) of engaged ...

  • Latest MCCB research shows rise in awareness of consumer rights

    11 Feb 2003

    The Mortgage Code Compliance Board has announced the results of the latest research it has commissioned into consumer awareness of the Mortgage Code, and the consumer rights supported by it. At a time when some other financial services sectors are coming in for criticism, the mortgage industry has received a positive show of customer satisfaction, the findings of the survey reveal. The survey found that 55% of all borrowers were aware of the Mortgage Code and their rights ...

  • Legal & General Mortgages launches new flexible mortgage range

    10 Feb 2003

    Legal & General Mortgages has launched a new range of flexible reserve mortgages. Borrowers can choose two or three-year fixed rates and a discounted base rate tracker. Two-year fixed rates at 3.99% and 4.19% (both with 5.0% APR) are available for loans up to 85% and 95% LTV respectively At the end of the fixed period, March 1 2005, the rate reverts to the standard variable rate (currently 4.95%). Borrowers can make overpayments, underpayments, take payment holidays ...

  • Legal & General Mortgages widens buy-to-let options

    13 Feb 2003

    Legal & General Mortgages is offering four new buy-to-let flexible reserve mortgages. Borrowers can choose from a stepped discounted loan and fixed rates over two, five or 10 years. The stepped buy-to-let loan offers discounts of one%, 0.75% and 0.5% in each of the first three years. This means current pay rates are 4.74% until March 1 2004, 4.99% until March 1 2005 and 5.24% until 1 March 2006 (APR 5.9% variable). From March 1 2006 interest will be payable at the standard ...

  • Lib Dems warn of small business insurance crisis

    14 Feb 2003

    The Liberal Democrats yesterday called for the rules governing compulsory employers insurance to be overhauled in order to tackle the new 'litigation culture'. The cost of Employers' Liability Insurance has rocketed over the last year. Some businesses are facing premium increases of 500% or more. Advice as to what can and can't be claimed under the Compulsory Insurance scheme is now 34 years old. The new climate of personal injury claims has impacted significantly ...

  • Lloyds TSB Scotland joins BuildLoan panel

    11 Feb 2003

    Lloyds TSB Scotland is the latest lender to offer self-build finance through BuildStore's intermediary self-build mortgage product, BuildLoan. The Lloyds TSB product is a base rate tracker with the rate set at 1% above bank base until the end of 2007. After this point the borrower can switch to any other Lloyds TSB product available at the time. The product, available exclusively through BuildStore to self-builders and renovators in England, Wales and Scotland, allows ...

  • Money matters kept close to heart says A&L

    10 Feb 2003

    Three quarters of married women who steer clear of joint bank accounts do so for financial independence, with 'For richer, for poorer' an illusion when it comes to financial matters. Although nearly half of couples claim to share control of the finances in a relationship when it comes to bank accounts, a third prefer to keep their affairs separate, suggests research conducted by Alliance & Leicester, Conducted by BMRB, the research reveals that financial independence ...

  • Mortgage Next signs deal with Mortgage Brain

    12 Feb 2003

    Independent mortgage distributor Mortgage Next has launched a marketing campaign to promote Mortgage Brain as a preferred technology system to its 6,000 members. The system will be available at a market-leading discounted price of £15.99 plus VAT, with an alternative cost-free option based on minimum business levels. Martin Maynard, managing director of Mortgage Next, says: "Our decision to promote Mortgage Brain has been based on the consortium of lenders who ...

  • Mortgages PLC to hold packager strategy workshops

    10 Feb 2003

    Mortgages PLC is to hold a series of packager strategy workshops throughout the UK in March. The workshops come at a time when the packaging industry finds itself facing a number of threats and challenges as regulation looms in 2004. Many have questioned the ongoing existence of packagers and have pointed towards mortgage clubs and networks as the future controllers of distribution in the mortgage market. Now is the time for packagers to think long and hard about their ...

  • New 4.29% five-year fixed rate from Leeds & Holbeck

    14 Feb 2003

    Leeds & Holbeck Building Society has launched a five-year fixed rate mortgage with a rate of 4.29%, which it claims is market-leading. The loan is available up to 95% of property value and the rate is fixed until May 1 2008. Applications can be made either directly to the society's branches, by telephone (0500 225 777), on the website (www.leed-holbeck.co.uk) or through brokers London & Country Mortgages. There are no insurance requirements; no extended lock-ins; no ...

  • New BDM at The Finance Centre

    12 Feb 2003

    The Finance Centre, the UK's leading sub-prime mortgage packaging organisation, has appointed Marc Harris as business development manager for the Midlands and South-West. Harris will spearhead the drive to develop and maintain relationships with intermediaries. He joins from Birmingham Midshires Solutions where he was area lending manager, responsible for managing a team of mortgage consultants across the Midlands. Previously, Harris worked for Britannia Building ...

  • New business development executive at Capital Home Loans

    13 Feb 2003

    Capital Home Loans' new business development executive for the North is James Bickers. Bickers, whose office is based in Harrogate, has many years' experience working in the North's home loan sector. He previously worked at mortgage provider Paragon and at mortgage sourcing company Trigold. Capital Home Loans is based in Fleet, Hampshire and specialises in home loans and buy-to-let loans.

  • New chief executive for GMAC-RFC

    10 Feb 2003

    GMAC-RFC has appointed Robert Appel to chief executive officer for the company's UK mortgage arm. Appel will be responsible for the overall management of the UK residential mortgage business based at the head office in Bracknell, Berkshire, and will report to Stephen Knight, executive chairman. Appel says: "I'm delighted to be part of our exciting business in the UK, and look forward to building upon its successes by providing innovative solutions for our customers ...

  • New director of operations at Loans.co.uk

    11 Feb 2003

    Loans.co.uk, the specialist secured loans intermediary, has appointed Julieann Greer to its board as its new director of operations. The company caters for the financial needs of people who find it difficult to obtain credit from high street lenders and building societies. Since 1999, Greer has worked for Loans.co.uk as its new business manager and, more recently, as operations manager. Managing director Stephen Hayes says: "Julieann is the best people manager I have ...

  • New face at County Home Loans

    13 Feb 2003

    Matt Kimber has joined County Home Loans, the recently-launched correspondent lender, as business development manager for London. Kimber will be based at the lender's Fareham, Hampshire offices. He joins from Capital Home Loans where he worked for five years, most recently as underwriting manager. Previous to that he worked as team leader at Hambro Countrywide Mortgage Services in Basingstoke. County Home Loans was launched by mortgage packager County Group and GMAC ...

  • New PR manager at Birmingham Midshires

    12 Feb 2003

    Birmingham Midshires has appointed Matthew Grayson to the position of public relations manager. Grayson takes responsibility for all external communications and will report to head of communications, Emma Thomas. Grayson says: "I'm looking forward to building on Birmingham Midshires' excellent reputation in the media. The communications team has a central role to play in making consumers aware of the vast range of financial packages that Birmingham Midshires provides."

  • Personal Touch Insurance roadshows to focus on impact of regulation

    14 Feb 2003

    Personal Touch Insurance is running a series of Impact 2004 roadshows during March explaining what impact future regulation will have on intermediaries' business. Working in conjunction with Scottish Provident, the roadshows will take place at various locations throughout the UK. Nick Kirwan will be the main PTI speaker and will discuss the real impact of regulation; look at the big changes taking place in the protection market, and show businesses how to profit from their ...

  • Pink Home Loans launches new look website

    10 Feb 2003

    Pink Home Loans has launched a new look website to consolidate its online service offering. The website - which can be found at http://www.pink.uk.net - now includes a product database system, is set out in a clearer way and the new structure means it is now easier and less time consuming to navigate. Elliott Stoneham, IT director at Pink Home Loan, says: "The new look website has been simplified so it is much easier to use, which is great news for members as ...

  • PolicyPlus promotes TEPs

    14 Feb 2003

    PolicyPlus is encouraging people to ask their IFAs about investing in Traded Endowment Policies, a product it believes offers real long-term security. As recent bonus rates on these with-profits policies have fallen, the levels of capital protection in relation to the purchase price and future premium payments have increased significantly. There are now many policies available where the Guaranteed Minimum Maturity Value is greater than the purchase price and future premiums ...

  • Record profits for Pink Home Loans

    13 Feb 2003

    Pink Home Loans has announced record profits of £1.3m for the year ending December 2002. The figure was achieved on a turnover of over £14m, doubling the 2001 figure, and represents a significant turnaround from the previous year when the company made a small loss. Tony Jones, Pink Home Loans' managing director, says: "Whilst this superb performance has been achieved in a very buoyant market, it is the result of very hard work by all of the staff at Pink ...

  • Scottish Life launches adverse support line

    10 Feb 2003

    Scottish Life Mortgages has launched a specialist adverse support line to assist registered brokers. The line will be supported by highly experienced CEMAP-qualified staff to help with any adverse or non-conforming query. Scottish Life Mortgages has several leading adverse lenders on its panel including Kensington Mortgage Company, GMAC, Platform, TMB, Bristol & West specialised lending and First National. SLM has chosen to launch the dedicated adverse support line ...

  • Sedgwick MD joins Tenet Group

    13 Feb 2003

    Tenet has appointed John Dick from Barclays bank subsidiary Sedgwick IFC to help integrate its new acquisitions and head up the new adviser support company Tenet Business Solutions Ltd. As group director of business development Dick will play a vital role in the strategic growth plans of Tenet which recently announced acquiring a 20% stake in IFA Ayrshire and the acquisition of Capital Planning, the 100 adviser London-based IFA. Dick will also be managing director of ...

  • Senior marketing appointments at GMAC-RFC

    10 Feb 2003

    GMAC-RFC have appointed Barry Searle to the newly created role of commercial director, with two additional appointments to the lender's marketing team. Searle will be responsible for the marketing and business initiatives of the UK residential mortgage business, and reports to chief executive, Robert Appel. He will head up the ten-strong marketing team based at the company's head office in Bracknell, Berkshire. Searle has been with the company for ten years, joining ...

  • Smaller manufacturers worst hit by downturn, says CBI

    10 Feb 2003

    Smaller firms are facing the toughest battle to beat the economic downturn of all sections of the economy, the Confederation of British Industry says. CBI research shows manufacturers have seen orders, output and confidence fall at the fastest rate for 15 months and much more sharply than larger manufacturers, according to a CBI survey published today. Some 19% of small and medium-size enterprises (SMEs) within manufacturing said new orders were up over the last four ...

  • Surrenda-link investment fund now more accessible

    12 Feb 2003

    As of Feburary 2003 the minimum investment level for the Surrenda-link Investment Fund will be reduced from £50,000 to £5,000. This will increase the number of investors who may benefit from the £35m fund that combines lower than average risk with higher than average growth. SLIF is the only OEIC of its kind to combine traded endowment policies and commercial property. By calling on the expertise of the investment adviser Surrenda-link, it allows ...

  • Synergy offers free valuations

    13 Feb 2003

    Synergy Mortgage Processing is offering a free standard mortgage valuation on all Platform applications received until March 14 2003 in support of the launch of Platform, the new one-stop lender. Platform offers a full range of conforming and non-conforming mortgage products designed to provide mortgages for nearly every borrower regardless of credit status. Synergy specialises in providing mortgage solutions for intermediaries whose clients have non standard borrowing ...

  • Tax collectors sell property to tax avoiders

    13 Feb 2003

    The Treasury Select Committee is highly critical of the handling of the Inland Revenue and Customs and Excise sale of property to a company based in a tax haven. Mapeley STEPS, based in Bermuda, would not have to pay capital gains tax if it sells these properties on. The IR chairman claimed that they had no choice in the matter due to WTO and European law. The Committee says that ministers were kept in the dark about the true nature of the sell-off. Norman Lamb MP, ...

  • The MarketPlace launches two-year fixed rate

    13 Feb 2003

    The MarketPlace at Bradford & Bingley has launched an exclusive, market-leading two-year fixed rate mortgage. The deal, funded by the Woolwich, has an eye-opening pay rate of 3.69% (5.8% APR). Key features include: ? 3.69% fixed to 30/04/05 ? Maximum LTV of 95% ? MIG free to 90% ? Arrangement fee added to the loan ? Redemption penalties apply only in the fixed period ? Flexible features and the ability to repay up to 25% of the ...

  • Trigold alliance with Personal Touch Insurance

    12 Feb 2003

    Trigold has added Personal Touch Insurance to its trading community. PTI members will be provided with a bespoke Trigold solution, with entire mortgage market sourcing, integrated electronic applications, real-time acceptance in principles, conveyancing and a comprehensive range of competitive cross-sale products. All functionality is available through an easy-to-use, intuitive system. The deal will also see Trigold's online Researcher platform providing an online B2B sourcing ...

  • UNIPASS rolled out to all financial advisers

    14 Feb 2003

    Origo, the UK's financial services industry standards body, has announced the free availability of UNIPASS to all financial advisers dealing in non-regulated products and firms across the industry, including mortgage brokers, healthcare specialists and insurance brokers. UNIPASS was launched in September 2002 to meet the needs of IFAs regulated by the FSA. UNIPASS overcomes a real barrier to electronic trading by removing the need for multiple passwords. It is a simple 'digital ...

  • Woolwich launches new lower fixed rate mortgages

    14 Feb 2003

    The Woolwich has launched a new range of fixed rate mortgages. The products include a two-year flexible fixed rate mortgage at 3.89% and a five-year fixed rate of 4.39, available up to 95% LTV for house purchases and 90% for remortgages. A three-year fixed rate flexible mortgage at 4.09% is also offered and a two-year fixed rate flexible mortgage of 4.29% for first-time buyers with no higher percentage advance fee and a free valuation. A one-year fixed rate flexible ...

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