Mortgage Strategy
10 March 2008

  • House prices fell 0.3% last month

    10 Mar 2008

    Property prices fell 0.3% in February, Halifax reveals in its latest house price index. But it says that despite the fall, prices are still 0.2% higher than in Q3 2007, with the average home valued at £196,649.

  • Referencing/Due Diligence

    14 Mar 2008

  • £7m mortgage scam rocks Midlands

    11 Mar 2008

    A number of lenders and mortgage brokers in the West Midlands are reported to have fallen victim to a £7m mortgage scam.

  • 10 jobs at Beacon Homeloans at risk

    13 Mar 2008

    Some 10 staff at Beacon Homeloans are at risk of redundancy as the lender strives to align its cost base with its 2008 business plan.

  • 38% of brokers would not support borrowers in trouble

    11 Mar 2008

    Some 38% of brokers says that it is not their role to support borrowers in difficulty.

  • 5,000 Brokers train with Trigold

    10 Mar 2008

    Trigold claims nearly 5,000 brokers have used its online interactive training system since it was launched last year. The system features seminars on the sourcing system's automated valuation model, secured loan, e-trading, insurance and conveyancing facilities.

  • Abbey plans to verify all Trigold-listed products

    10 Mar 2008

    Abbey for Intermediaries has pledged to automatically verify all its products on Trigold's sourcing system to ensure brokers receive up-to-date and accurate information.

  • Abbey pulls exclusives with 27 key accounts

    10 Mar 2008

    Abbey for Intermediaries has pulled the exclusive deals it had with its 27 key accounts. Brokers had until this morning to get applications in.

  • Adding up the commercial benefits

    10 Mar 2008

    One of the fundamental questions asked by commercial lenders when assessing loan applications is whether the business is profitable and represents an acceptable risk.

  • Amber consults 27 staff as it shuns new business

    10 Mar 2008

    Amber Homeloans has laun-ched a consultation process with 27 workers following its decision to stop writing new business.

  • AMI welcomes BoE loan facility

    11 Mar 2008

    The Association of Mortgage Intermediaries has welcomed the Bank of England’s move to extend its loan facility.

  • Apathy and ignorance fuel rising debt

    10 Mar 2008

    It appears the message that 1.4 million home owners must remortgage this year to avoid huge repayment hikes as their fixed rate deals come to an end is not getting through.

  • Approvals drop again, says Connells

    10 Mar 2008

    Mortgage approvals for house purchase feel 3.5% last month, reversing January’s slight recovery.

  • Assurant appoints compliance officer

    10 Mar 2008

    Assurant Solutions Intermediary has appointed a new compliance officer, Jane Robson.

  • AToM makes 48-hour fees pledge

    10 Mar 2008

    All Types of Mortgages has guaranteed to pay proc fees to brokers within 48 hours of confirming mortgage completions.

  • AToM to distribute Kensington’s 90% LTV self-cert

    10 Mar 2008

    All Types of Mortgages, the mortgage distributor, has been selected by Kensington to distribute its 90% LTV self-cert mortgage.

  • Automation gives investors confidence

    10 Mar 2008

    Every lender has a unique business proposition with a specific methodology that backs up its brand. Understandably, each organisation is keen to promote and justify its chosen strategy and many use a mixture of PR and advertising to do this.

  • B2L landlords benefiting from crisis

    10 Mar 2008

    Estate agent Your Move says buy-to-let landlords are benefiting from the liquidity crisis.

  • Barnetts Solicitors forecasts bullish 2008

    14 Mar 2008

    Barnetts Solicitors has earmarked 2008 as a year of growth as it looks to build its residential and commercial conveyancing customer base.

  • Base refusing new brokers

    14 Mar 2008

    Base Commercial Mortgages is no longer accepting broker registrations.

  • BDS and Pink guarantee proc fees

    11 Mar 2008

    BDS says it will guarantee all proc fee payments, thanks to the financial backing of Skipton, the parent company of Pink Home Loans, which has recently bought a majority stake in the firm.

  • BDS Mortgage Group guarantees proc fees

    11 Mar 2008

    BDS Mortgage Group has guaranteed proc fee payments to all its directly authorised brokers, appointed representatives and satellite packagers.

  • BDS partners with D B Associates

    10 Mar 2008

    The BDS Mortgage Group’s network arm has teamed up with D B Associates to expand it commercial mortgage offering.

  • BDS partners with DB Associates

    10 Mar 2008

    The BDS Mortgage Group’s network arm is partnering with DB Associates to expand its commercial mortgage offering.

  • Bear Stearns calls on emergency funds

    14 Mar 2008

    US banking giant Bear Stearns has received emergency funding from JP Morgan Chase and the Federal Reserve.

  • Black and White appoints administrators

    10 Mar 2008

    Begbies Traynor, administrators from business rescue, recovery and restructuring specialists have been appointed through a court application on 15 February to Black and White Group.

  • Blackandwhite most likely fell on its own sword

    10 Mar 2008

    The comment from the anonymous insider at Blackandwhite (Mortgage Strategy February 25) was a display of sour grapes based on a lack of know-ledge and understanding about how the FSA works.

  • Blogger

    13 Mar 2008

    Though the Mortgage Packager Summit in Monte Carlo was an informing and opulent event, as some wag put it: “At the rate the mortgage industry is shredding, next year’s event could be held in a telephone booth in Brighton.” Though I am not that gloomy, my confidence in the ability of the industry to repair and reconstruct itself over time has been examined.

  • Blogger

    13 Mar 2008

    I have read with interest the article regarding the research data about customer retention. It indicated that only 40% of clients who go back to the same lender will use their original broker to secure the deal.

  • Blogger

    13 Mar 2008

    The heat that has been generated over the past few months about the treatment of packagers and intermediaries by lenders has already been well documented.

  • BM Solutions to pull all self-cert sub-prime deals

    13 Mar 2008

    BM Solutions will withdraw all of its self-certification sub-prime mortgages on Sunday to help reduce its business volumes.

  • Borrowers back HIPs

    10 Mar 2008

    A government study says that 70% of clients are satisfied with Home Information Packs.

  • BoS must be a candidate for villain of the year

    10 Mar 2008

    Should there be such a thing in 2008, a prime candidate for villain of the year on MS' Marketwatch page must be Bank of Scotland for withdrawing its 100% LTV mortgages without telling anyone, including its workers.

  • Bridgewater equity release event hit with brokers

    14 Mar 2008

    Bridgewater says delegates to its breakfast forum on equity release was a hit with brokers.

  • Brits believe recession is here

    10 Mar 2008

    One in six Britons think the UK is already in a recession, according to a report by consumer finance website Fool.co.uk

  • Brokers can help clients beat gloom

    10 Mar 2008

    While the back pages of the newspapers indicate that Kevin Keegan is starting to think Ron Sandler has the more comfortable of the two hottest seats in Newcastle, the financial press continues to satisfy itself by poking the twitching remains of Northern Rock.

  • Brokers realign business models in line with market change, says GE

    11 Mar 2008

    Brokers have been praised for realigning their business models to capitalise on the changing market conditions by GE Money Home Lending.

  • BUDGET 2008: Chancellor increases booze tax

    12 Mar 2008

    The chancellor has pledged to increase taxes on alcohol by 2% above inflation for the next four years. Tax on beer will increase 4p a pint while 14p will be added to a bottle of wine and 55p to bottles of spirit.

  • BUDGET 2008: Chancellor increases small firms loan

    12 Mar 2008

    The chancellor has pledged to inject £60m into the Small Firms Loan GuaranteeHe says he will also roll out the scheme, which aims to provide small firms with funding support to execute viable business plans, to all small and medium businesses.

  • BUDGET 2008: Chancellor to "turn borrowing into wealth creation"

    12 Mar 2008

    Chancellor Darling insists that public spending will "turn borrowing into wealth creation."

  • BUDGET 2008: Connells brands Budget a wasted opportunity

    12 Mar 2008

    Connells Survey & Valuation has branded the Budget a wasted opportunity to help a weakened housing market.

  • BUDGET 2008: Corporation tax to fall 10%

    12 Mar 2008

    Chancellor Alistair Darling has cut Corporation Tax from 38% to 28%.In today's Budget speech, he says the UK remains one of the best countries in the world to do business, with one of the most competitive Corporation Tax rates in the world.

  • BUDGET 2008: Darling calls for long-term fixed choice

    12 Mar 2008

    House buyers need a greater choice of long-term fixed rate mortgages, says Chancellor Alistair Darling.He wants greater long-term fixed rate deal choice, including 10, 15 and 20-year deals.He referred to research, which he claims reveals that long-term fixed rate mortgages can reduce some of the risks of taking out a mortgage, especially for first-time buyers and lower income families.

  • BUDGET 2008: Darling commits £26m to help the environment

    12 Mar 2008

    Chancellor Darling has pledged £26m to help households reduce emissions and power bills.He will also institute a plan to have a new buildings be zero-carbon by 2019.

  • BUDGET 2008: Darling confirms Capital Gains Tax changes

    12 Mar 2008

    Chancellor Alistair Darling has confirmed that the Capital Gains Tax rate has been slashed to a flat fee of 18%.In today's Budget speech, he says the entrepreneur relief rate of 9% for small business owners and burgeoning entrepreneurs will kick in at the beginning of April.

  • BUDGET 2008: Darling creates new car tax bands

    12 Mar 2008

    The chancellor will create new car tax bands for the most polluting cars from April.

  • BUDGET 2008: Darling reveals affordable housing scheme

    12 Mar 2008

    Chancellor Alistair Darling has revealed a plan to spend £8bn more on affordable and social housing.He says this will allow the Housing Corporation to deliver 70,000 homes each year in three years time.He also revealed a plan to help key workers such as nurses and teachers onto the housing ladder.Darling says there will be new shared equity schemes for these workers.

  • BUDGET 2008: Darling reveals Stamp Duty change

    12 Mar 2008

    Borrowers on shared equity schemes wont have to pay Stamp Duty until they own 80% of the equity of their home.Chancellor Alistair Darling revealed the change in today's Budget speech.But still no change to the wider Stamp Duty threshold.

  • BUDGET 2008: Darling says Britons remain confident in UK economy

    12 Mar 2008

    Chancellor Alistair Darling says in his maiden Budget that despite the worst financial circumstances in generations confidence in the British economy has been maintained.Darling says that today the UK is at it's most stable with fundementals like unemployment ranking lower than other EU nations.He says the UK is "More resiliant and more prepared to deal with global shocks."Darling has reduced the growth forecast 2.25% from 2.75%.

  • BUDGET 2008: Darling says government was right over NR

    12 Mar 2008

    Chancellor Alistair Darling has claimed the Treasury was right to guarantee savers' deposits in Northern Rock last year.In today's Budget speech, Darling also says the government was also correct in granting the lender of last resort facility from the Bank of England.He claims the move helped to restore confidence in the banking sector.

  • BUDGET 2008: Darling says investment in UK to increase by 500%

    12 Mar 2008

    Chancellor Alistair Darling claims that by 2011, investment in the UK will have increased by 500% since Labour came to power.In today's Budget speech, he says that by 2011, investment in the UK will have trebled as a share of national income since 1997.He also claims that by 2011, the UK will have seen the longest sustained period of investment in public services since 1945.

  • BUDGET 2008: Darling sets non-dom tax at £30,000

    12 Mar 2008

    Chancellor Alistair Darling has set the proposed tax on non-domicile residents living and working in the UK at £30,000 from April.

  • BUDGET 2008: Darling ups borrowing forecast to £43bn

    12 Mar 2008

    Darling has increased his borrowing forecast to £43bn for 2008-2009. The Chancellor says borrowing has dropped 1.25 since 1997 and that debt has dropped by 36.6% of gross domestic product since 1997.He says government borrowing will not breach 40% of the national GDP.

  • BUDGET 2008: Darling ups ISA limits

    12 Mar 2008

    Chancellor Darling has risen individual savings accounts limits to £7,200.He has also risen tax free limits on cash ISAs to £3,600 and is extending the savings gateway scheme across the nation.He says over 17m people are currently taking advantage of ISA.

  • BUDGET 2008: Darling's speech to the House in full

    12 Mar 2008

    Mr Deputy Speaker, the core purpose of this Budget is stability - now and in the future.

  • BUDGET 2008: DEA welcomes green £26m green commitment

    12 Mar 2008

    Domestic energy assessor Energy Reports and Surveys is impressed with chancellor Alistair Darling’s £26m commitment to the environment in today's Budget.

  • BUDGET 2008: Fuel tax increase postponed

    12 Mar 2008

    Chancellor Alistair Darling will postpone a 2p increase in fuel tax until October.

  • BUDGET 2008: Government debt breaks rules, Cameron claims

    12 Mar 2008

    Government debt including its Northern Rock liabilities is 43.8% of GDP and breaks fiscal rules, Conservative leader David Cameron has claimed.

  • BUDGET 2008: IMLA welcomes Mortgage Working Group

    12 Mar 2008

    The Intermediary Mortgage Lenders Association has welcomed the chancellor’s plan for a working group to focus on mortgage-backed securities.

  • BUDGET 2008: mform warns of long-term fixed risks

    12 Mar 2008

    The government's renewed pledge to encourage more borrowers into long term fixed rates could lead to them taking up expensive deals with high ERCs.

  • BUDGET 2008: Mortgage Advice Bureau brands Darling naive

    12 Mar 2008

    The Mortgage Advice Bureau has branded the chancellor naive, for believing long-term fixed rates can reduce risks for first-time buyers.

  • BUDGET 2008: NLA welcomes stable budget

    12 Mar 2008

    The National Landlords Association says it is pleased that stability and strength are cornerstones of the 2008 Budget.

  • BUDGET 2008: No respite for FTBs

    12 Mar 2008

    The chancellor Alistair Darling's maiden Budget offers no real respite for first-time buyers says Firstrungnow.com's managing director Helen Adams.

  • BUDGET 2008: Only 16% of UK properties still exempt from SD

    12 Mar 2008

    Only 16% of UK properties are priced below the Stamp Duty Land Tax threshold of £125,000, says Rightmove.

  • BUDGET 2008: Reality check needed over long-term fixes

    12 Mar 2008

    Abbey has warned that the chancellor Alistair Darling needs to be realistic about consumer appetite for 25-year long-term fixed rate deals.

  • BUDGET 2008: Scottish Widows backs Darling's Stamp Duty changes

    12 Mar 2008

    Scottish Widows Bank is voicing support for the chancellor and his changes to Stamp Duty legislation on shared ownership to help in this mornings Budget.

  • BUDGET 2008: Smoke and mirrors from Darling

    12 Mar 2008

    Connells Survey & Valuation has slammed today’s Budget as nothing more than smoke and mirrors, and is calling for the government to take considered action to rebuild the housing market.

  • BUDGET 2008: Your Move slams inaction on Stamp Duty

    12 Mar 2008

    Your Move estate agents claims the chancellor Alistair Darling has failed to help first-time buyers through his inaction on Stamp Duty.

  • Budget chance to kick-start market

    10 Mar 2008

    A bruised and battered mortgage market awaits the Budget speech on Wednesday with bated breath. It will be made by the first chancellor to preside over a run on a UK bank since savers lined the streets outside Overend, Gurney & Co in 1866.

  • Buying Overseas - Legal Q&A

    13 Mar 2008

    Q. Buying overseas remains popular for UK investors, but differences in the property purchase process across continental Europe and beyond can lead to problems. Is there a way that the risks associated with buying abroad can be mitigated?

  • Buy-to-let gets bad rep

    13 Mar 2008

    Sally Laker, managing director, Mortgage Intelligence

  • BUY-TO-LET SUMMIT 2008: Optimistic outlook for B2L

    13 Mar 2008

    Mortgage Strategy’s Buy-to-let Summit has kicked off this morning with statistics revealing positive prospects for the sector.

  • Chafer quits the industry

    10 Mar 2008

    Stroud & Swindon commercial director Paul Chafer, 38, has quit the society to take a chief executive position outside the mortgage industry.

  • Chancellor to face Treasury Select Committee question time

    13 Mar 2008

    Chancellor Alistair Darling will be subject to interrogation by the Treasury Select Committee over his downgrading of the government's economic forecasts, as revealed in yesterday's Budget.

  • Cheshire urges homeowners to check insurance

    12 Mar 2008

    Cheshire is urging homeowners to check that their insurance coverage is up to snuff in the light of the severe weather being predicted by the Met Office.

  • Cheval brings home award

    10 Mar 2008

    Cheval Property Finance has been named best bridging finance provider of the year by Business Moneyfacts. Mark Posniak, Cheval's director of sales and marketing, says: "Winning this award is a feather in our cap."

  • CML unveils equity release research

    14 Mar 2008

    The Council of Mortgage Lenders has released research examining the slowed growth of the equity release market in the UK.

  • Commercial appointment

    10 Mar 2008

    Steve Sales, formerly regional sales manager at Commercial First, has joined broker Verizon Capital as a commercial finance consultant.

  • Commercial firm appoints broker

    10 Mar 2008

    Mortgages for Business has named Commercial 1 its exclusive brokerage for secured loans and bridging finance, in line with plans to grow its broker proposition.

  • Compulsory MPPI slammed

    10 Mar 2008

    Proposals for a government-backed mort- gage payment protection insurance scheme have been slammed as inadequate by industry members.

  • Computers sometimes make decisions that make no sense

    10 Mar 2008

    While I agree with Stephen Knight that I would not wish to go back to the bad old days of 100% paper applications, two simple examples will illustrate that computers do not always make the best decisions.

  • Conveyancers must disclose fees

    10 Mar 2008

    Conveyancers are being warned that they may be in breach of the Law Society's code of conduct for failing to disclose their fees.

  • Cops want broker registration

    10 Mar 2008

    A police report into mortgage fraud has called on the Financial Services Authority to individually register the UK's estimated 40,000 mortgage brokers. The Association of Chief Police Officers made the call as part of its look at the growing problem of mortgage fraud. Richard Farr, director of the Association of Mortgage Intermediaries, says: "Everybody backs registration as long as the process is slick and we're talking to the FSA about this."

  • Coventry deals corner non-ERC market

    10 Mar 2008

    Coventry has became the latest entrant to the equity release market with the launch of a suite of products available through its branches and via broker brand Godiva.

  • Crown launches risk assessment service

    11 Mar 2008

    Crown Mortgage Management has launched a commercial risk assessment service to help lenders develop a better understanding of the risk profile of their commercial mortgages.

  • CurriculumVitae: David Thompson

    10 Mar 2008

    "My first job was playing Bob the Builder"

  • Cutting out the middle man is cutting out yourself

    14 Mar 2008

    As brokers start to look for ways to save money in these turbulent times, some have decided that they will “cut out the middle man” and by this they mean the packager.

  • Dear Delia...

    10 Mar 2008

    Dear Delia, My clients are looking to buy a rundown bungalow built in the 1930s with no kitchen or bathroom facilities. It also has substandard wiring and requires complete renovation to be habitable. They have a good deposit and funds for the renovations and the asking price is reasonable too. I've contacted my usual lenders but they all say no. Can you help?

  • Does the packaging industry provide brokers with value for money services?

    10 Mar 2008

    Our experts differ on the worth of packagers. One says they provide great services but the other believes they are a waste of time

  • Duffy and Glithero fall foul of liquidity crisis

    10 Mar 2008

    Kevin Duffy, managing director of Robert Sterling and Mark Glithero, managing director of Lexicon Surveying Services, have both fallen victim to the liquidity crisis and been made redundant from parent The Lexicon Group.

  • E2M appoints new regional sales directors

    14 Mar 2008

    Easier2move has appointed Lisa Newey and Charlotte Etheridge as regional sales directors.

  • Earl Shilton slashes LTV to 50%

    13 Mar 2008

    Earl Shilton, the Leicester-based mutual, has slashed the LTV on all its products to 50% due to over-demand.

  • Easier2move appoints first chairman

    11 Mar 2008

    Easier2move has appointed Tracy Morshead as its first chairman.

  • EConveyancer offers £200 Red Letter voucher

    14 Mar 2008

    EConveyancer is giving away a £200 Red Letter Day voucher to the intermediary who generates the most conveyancing instructions during March.

  • Enterprise Group e-commerce director resigns

    13 Mar 2008

    Gordon Steyn has stepped down from his position as director of e-commerce at Enterprise Group.

  • Enterprise to launch site range

    10 Mar 2008

    Enterprise Group has announced it will launch a suite of websites. Enterprise Finance, its secured, bridging and commercial arm, launched a website last week and websites for its Partners, Homeloans and Broker Services businesses are due shortly.

  • Financial fraud doubles in three years

    10 Mar 2008

    Research by Credit Industry Fraud Avoidance shows that the number of fraud applications approved in the UK has more than doubled.

  • Flight to accuracy by lenders, says e.surv

    10 Mar 2008

    E.surv Chartered Surveyors is reporting a shift towards quality by lenders when evaluating property risk.

  • Former Egg CEO snaps up MoneyQuest

    14 Mar 2008

    MoneyQuest has been snapped up by a consortium led by former egg CEO Paul Gratton for an undisclosed sum.

  • Friends Provident pre-tax profit dives 97%

    11 Mar 2008

    Friends Provident, the ailing UK insurer, has revealed a pre-tax profit of £16m for 2007 - a whopping 97% down on 2006.

  • FSA appoints prudential risk and policy directors

    10 Mar 2008

    The Financial Services Authority has appointed Colin Lawrence as director of its newly created prudential risk division and Paul Sharma as director of wholesale and prudential policy.

  • FSA bans Essex-based introducer

    10 Mar 2008

    The Financial Services Authority has made its first ever prohibition order against a mortgage introducer.

  • FSA bans mortgage introducer

    10 Mar 2008

    The Financial Services Authority has banned a mortgage introducer from carrying out any financial services activity requiring authorisation, sending out the message that no-one is immune from its powers.

  • FSA provides rotten advice publicised on idiotic leaflets

    10 Mar 2008

    Has anyone else received a letter from the FSA asking if they would like to order supplies of a free leaflet entitled Stay in control of your mortgage?

  • GHL Group appoints L&G to GI panel

    14 Mar 2008

    GHL Group has appointed Legal & General by appointing to its general insurance panel.

  • GMAC-RFC named top 100 company by Sunday Times

    11 Mar 2008

    GMAC-RFC has been ranked as the 64th best UK employer by the Sunday Times Best 100 Companies To Work For list.

  • Gold standard for MBS plan rapped

    10 Mar 2008

    The government's plan to introduce a gold standard for mortgage-backed securities is under fire from industry pundits who question its scope.

  • Goldsmith teams up with packager

    10 Mar 2008

    Goldsmith Williams has signed a partnership deal with packager Berkeley James. Under the exclusive arrangement, the conveyancer will provide a range of products and services to Berkeley James' customers, including access to GWLive, its online case management system.

  • Good news for Pink volumes

    10 Mar 2008

    Pink Home Loans increased its business volumes by 20% in January compared with the same period last year. The value of its secured loan completions also rose by 40%.

  • Helen Hymos

    14 Mar 2008

    Future value of packager associations lies in delivering fruitful lender partnerships

  • Hello Sailor

    11 Mar 2008

    It was all hands on deck at the Mortgage Packager Summit after Rob Jupp, managing director of Personal Touch Packaging, found himself in a fishy situation.

  • Helpful parents are now first-timers' only hope

    10 Mar 2008

    It's comforting to see firms in the mortgage industry sticking with their tried and tested policy of following each other around like lost sheep.

  • HiFX says snowy peaks are top foreign investment destinations

    14 Mar 2008

    HiFX says Alpine properties are the new top pick for foreign home investment by Britons.

  • High quality packagers are not being edged out of the chain

    10 Mar 2008

    In response to Chris Gardner's recent letter to Mortgage Strategy, I'm aghast he could get things so wrong.

  • HIPs hinder residential sales, says Hamptons International

    10 Mar 2008

    Home Information Packs are discouraging homeowners from putting their properties up for sale, says Hamptons International.

  • House prices fall to near historic levels, reveals RICS

    11 Mar 2008

    A whopping 64% more chartered surveyors reported a fall in house prices to near historic levels in February, reveals the Royal Institution of Chartered Surveyors.

  • House purchase loans slump 11%, reveals Hamptons Mortgages

    10 Mar 2008

    Home purchase loan completions increased 11.49% last month, reveals Hamptons Mortgages.

  • House purchase loans slump 19%, reveals CML

    11 Mar 2008

    House purchase loans plummeted 19% to 50,300 in January, new figures by the Council of Mortgage Lenders reveal today.

  • Households stretched as cost of living rises 4.9%

    10 Mar 2008

    The cost of living has risen by 4.9%, a report from supermarket giant Asda reveals.

  • HSBC says squeeze may last until late next year

    10 Mar 2008

    HSBC has warned that the US cre-dit crunch is unlikely to peak until the end of 2009.

  • Ian Wilson new Halifax head of sales

    10 Mar 2008

    Ian Wilson has been appointed head of sales at Halifax Intermediaries.

  • InterBay rejigs LTVs and loans

    10 Mar 2008

    InterBay Commercial has reset its maximum LTV to 70% and its minimum loan value to £100,000 as part of its efforts to reduce business volumes. Its proc fee stands at 1.5%.

  • It's time the vultures stopped circling the packaging sector

    10 Mar 2008

    Chris Gardner's letter about packagers bleeding to death (Mortgage Strategy March 3) no doubt was intended to elicit a strong reaction.

  • January market was subdued

    10 Mar 2008

    The January mortgage market was dominated by subdued activity, low LTVs and low income multiples, according to John Charcol. The broker says 52% of borrowers took out fixed rates in February - high compared with the recent norm of around 30%. Remortgages for buy-to-let deals were also up in February compared with January but the number of buy-to-let purchases remained low.

  • John Rice

    10 Mar 2008

    The heat that has been generated over the past few months about the treatment of packagers and intermediaries by lenders has already been well documented. The stories of products being pulled at short notice and even lenders exiting the market without honouring pipeline or procuration fees have grown with every telling. But do the individuals within these organisations deliberately seek to cause ...

  • Kensington chooses AToM to distribute 90% self-cert deal

    10 Mar 2008

    All Types of Mortgages has been chosen to distribute Kensington's 90% LTV self-cert product.

  • KGB unveils self-cert deals

    10 Mar 2008

    KGB Packaging is offering self-cert clients the chance to borrow up to 90% LTV with two exclusives from Kensington. The deals comprise a three-year fixed rate at 6.89% and a two-year fixed rate at 6.99%. Both feature a £1,999 completion fee.

  • Know what's coming from the FSA

    10 Mar 2008

    The regulator recently published its business plan for the year ahead and brokers should ensure they are up-to-speed with it if they want to stay ahead of the game, says Nick Battersby

  • L&G retains technology rating

    13 Mar 2008

    Legal & General has retained its 'eee' rating across all four categories of the protection e-Excellence study by the Financial Technology Research Centre.

  • Labour leads us forward to the 1960s

    10 Mar 2008

    It may not be Gordon's Gin that the Prime Minister is quaffing but there's a drink problem in London that might explain why the country is going to the dogs.

  • Leadbay launches debt leads service

    10 Mar 2008

    Leadbay will now provide debt advice leads to brokers interested in individual voluntary arrangements, debt consolidation and Scottish Trust Deeds.

  • Lender under fire for lack of notice

    10 Mar 2008

    Woolwich is under fire from brokers for failing to notify them about changes to its loans. Andrew Montlake, partner at Cobalt Capital, says the lender sent information on its decision to cut its maximum loan amount from £2m to £1m more than two weeks after the change took effect.

  • Let others take the strain of change

    10 Mar 2008

    With industry mergers on the horizon, financial services firms facing serious upheaval should consider the benefits of using interim management specialists, says Paul Belton

  • Let's step forward to good old days

    10 Mar 2008

    The end of high LTV loans makes it harder for many to get onto the housing ladder. But the discipline of having to save up for a deposit may help the market, says Mark Harris

  • Lifebox rolls out Origo system

    10 Mar 2008

    Lifebox, Personal Touch's directly authorised protection proposition, has rolled out the Origo Adviserwise system to its broker members.

  • Liquidity crisis must not be allowed to sink first-timers

    10 Mar 2008

    The health of the housing market is at risk as first-timers are finding it tough in the wake of the liquidity crisis and banks and building societies have stopped offering high LTV mortgages.

  • Market watch 10 March 2008

    10 Mar 2008

    Swaps dropped significantly last week but as we've seen recently, the fate of swap rates doesn't affect current pricing.

  • Marketing and regulation key issues at first Broker Breakfast Forum

    13 Mar 2008

    Marketing to potential equity release clients and regulation of the sector are the key issues for today's advisers, according to feedback from the first Broker Breakfast Forum held by Bridgewater Equity Release.

  • Me and my iPod - 10 March 2008

    10 Mar 2008

    I dig music with the feel-good factor, which might explain why my top 10 iPod list starts with Guns 'n' Roses' rock and ends with a swing classic by Frank Sinatram says Paul Chafer

  • MEX pulls 100% mortgages

    12 Mar 2008

    Mortgage Express has withdrawn all of its 100%+ and 100% Extra range.

  • MFB launch white label marketing materials

    10 Mar 2008

    Mortgages for Business has launched a new range of white label marketing support materials for business partners enabling them to customise information sent out to clients.

  • MfB launches white label marketing support

    10 Mar 2008

    Mortgages for Business has launched a new range of white label marketing support materials.

  • Money Partners mulls redundancies

    13 Mar 2008

    Money Partners staff are at risk of redundancy as the lender strives to realign the business with the current market conditions.

  • Mortgage Packager Summit 2008

    10 Mar 2008

    Monte Carlo seemed like an apt location to hold the second Mortgage Packager Summit, the land of fast cars, fast money and where people are willing to bet everything they own in a bid to win their fortune.

  • Mosaic adds Chelsea to lender panel

    11 Mar 2008

    Mosaic Mortgage Club has added Chelsea to its lender panel.

  • Most readers doubt value of packager code

    10 Mar 2008

    Some 63% of Mortgage Strategy Online readers doubt that a code of conduct for packagers will help them improve their service to brokers. Just 37% think it would be beneficial.

  • MPLC limits self-cert deals

    10 Mar 2008

    Mortgages PLC is withdrawing its self-cert facility for employed applicants and increasing its initial mortgage and reversion rates by 0.25%. The changes will take effect from tomorrow.

  • N&P names eco winners

    10 Mar 2008

    A Brighton couple who transformed a derelict builder's yard into an eco-friendly home have won Norwich and Peterborough's 2008 Eco Self-Build competition.

  • N4 Solutions appoints consultant

    12 Mar 2008

    N4 Solutions has appointed Henry Woodcock as client solutions consultant.

  • Nationwide unveils specialist boss

    10 Mar 2008

    Nationwide has poached Clive Hodges from Abbey to become head of operations at its specialist lending division.

  • NDL conference: 2007 saw unprecedented challenges

    12 Mar 2008

    Network Data's third annual conference kicked off today in Birmingham with Richard Griffiths, chief executive of Network Data Holdings admitting that the company had faced unprecedented challenges in 2007.

  • NDL conference: AMI working on consumer responsibilty White Paper

    12 Mar 2008

    The Association of Mortgage Intermediaries is working on a consumer responsibility White Paper which will clarify what responsibility consumers should take when it comes to their finances.

  • NDL conference: Brokers not holding on to clients

    12 Mar 2008

    Tim Hague, managing director of BM Solutions says that it is seeing an increase in the number of cases coming to it that are being remortgaged by different brokers.

  • NDL conference: Sub-prime business to fall by 30%

    12 Mar 2008

    Speaking at Network Data’s annual conference today, Alex Cotton, chief executive of Network Data says that it is predicting sub-prime business to fall by 30% in 2008, and prime by 10%.

  • Network Data secures £4.5m funding facility

    12 Mar 2008

    Network Data Holdings has secured new banking facilities with Bank of Scotland Corporate.

  • New CCA tightens up secured loans

    10 Mar 2008

    Kevin Paterson takes a weekly look at the latest developments in the market and brings you what's hot and what's not in the world of mortgages

  • New fee free fixed-rate deals from Abacus Permanent

    13 Mar 2008

    Abacus Permanent have joined forces with Preferred Mortgages to offer new fixed-rate purchase and remortgage deals, all of which are fee free.

  • Northern Rock calls time on SPML backed sub-prime range

    10 Mar 2008

    Northern Rock is withdrawing its Southern Pacific Mortgage Limited back near prime and sub-prime range as of close of business tonight.

  • NR plans to cut its volumes by £40bn

    10 Mar 2008

    Northern Rock is understood to be planning to reduce its gross mortgage volumes by £40bn in the next three years.

  • Only nine UK lenders offer 100% LTV deals

    11 Mar 2008

    Just nine UK lenders still offer 100% LTV mortgages direct to the public, new analysis from Mform.co.uk reveals.

  • Onlyfinance.com to provide insurance for Thesun.co.uk

    14 Mar 2008

    OnlyFinance.com has struck an exclusive deal The Sun newspaper’s insurance offerings on Thesun.co.uk.

  • Openwork scores £20bn of business

    10 Mar 2008

    Openwork has revealed it originated more than £20bn in business during 2007, chalking up a 15% increase on 2006. The network's January lending levels were up more than 30% on December and 10% on January 2007.

  • Operations director at HML quits

    14 Mar 2008

    Third-party outsourcer Homeloan Management has revealed that its operations director Damian Stansfield has decided to leave the company.

  • Opportunities knock around the Rock

    10 Mar 2008

    Up until now I've avoided mentioning the Northern Rock situation. I've considered the lender's staff to be victims of circumstance created by their masters and thought than any comments I could add would be unhelpful.

  • Optoma apologises to brokers for disruption

    10 Mar 2008

    Andrew Seymour, managing director of Optoma Broker Solutions, has iss-ued brokers with an apology in advance for any inconvenience that may be caused by the firm's reorganisation.

  • Orbiter offers brokers submission choice

    12 Mar 2008

    Orbiter, the new company comprised of Oppono, TFC Homeloans, TFC Commercial, Home Estate Agency, QPAC, and Mortgage Branding, has pledged to offer brokers a choice in the way they submit business to mortgage lenders.

  • Orbiter to unveil specialist solution

    14 Mar 2008

    Orbiter is unveiling a specialist solution next month built using the latest online technology.

  • Packager Summit

    13 Mar 2008

    By Roger Morris, managing director, em-financial

  • Packagers add value and won't be bleeding to death any time soon

    10 Mar 2008

    I feel compelled to reply to Chris Gardner's recent letter (Mortgage Strategy March 3). Gardner makes a number of erroneous points which I propose to demolish one by one.

  • Packagers are not ready to be written off

    10 Mar 2008

    The run-up to this year's Mortgage Packager Summit was more subdued than in previous years, even though delegates looked forward to staying at the beautiful Monte Carlo Bay Hotel.

  • Packagers call for TCF treatment from lenders

    10 Mar 2008

    Packagers want lenders to apply the Treat- ing Customers Fairly initiative to them.

  • Packagers must be kept in the loop

    10 Mar 2008

    Over the past few months it has become apparent that lenders are splitting into two camps. On one hand you have firms that are still lending in vast quantities. On the other you have lenders limiting the amounts on offer. Most providers sit somewhere between these extremes.

  • Paragon to make 93 redundant

    10 Mar 2008

    The Paragon Group is set to make 93 members of staff redundant as it looks to streamline its mortgage business.

  • Paymentshield insurance live on PTFS website

    11 Mar 2008

    Paymentshield is now live on the Personal Touch Financial Services buildings and contents quote engine.

  • Pink shuffles its management pack

    10 Mar 2008

    Pink Home Loans has promoted Lisa Hurley from associate director to director of finance.

  • Platform added to Lendersonline

    12 Mar 2008

    Platform has been added to the Lendersonline specialist sourcing system.

  • PNG to generate fresh broker blood

    10 Mar 2008

    Premier Network Group has pledged to introduce a fresh wave of entrepreneurial brokers to the industry via a new partnership.

  • Praxis joins PMPA

    14 Mar 2008

    The Professional Mortgage Packagers Alliance has added Melton Mowbray owned packager Praxis to its group bringing its total membership to 15.

  • Praxis joins PMPA

    13 Mar 2008

    Praxis has joined the Professional Mortgage Packagers Alliance, increasing the organisation's membership to 15.

  • Primrose offers brokers Evaluate software

    14 Mar 2008

    Primrose Premier, the packaging arm of Premier Network Group, is offering all brokers access to Evaluate specialist sourcing software.

  • Primrose Premier provides access to Evaluate

    14 Mar 2008

    Primrose Premier, the packaging arm of Premier Network Group is now able to offer all brokers access to the Evaluate sub-prime sourcing software.

  • Processing times cut, claims firm

    10 Mar 2008

    Commercial First's cfirst system has cut processing times for remortgage cases by 43% during its first eight months of operations. It says that 97% of brokers submitting at least five cfirst applications during the past six months have seen processing times fall.

  • Propertyfinder website hits rise

    10 Mar 2008

    Propertyfinder.com has reported a 104% increase in home mover traffic. After a lull at the end of 2007, visits to the website soared in January, with rental properties particularly in demand.

  • Prospecting for new income streams

    10 Mar 2008

    The earthquake that much of the UK felt the other week was a stark reminder that the world is constantly on the move.

  • Pundits query government debt scheme proposals

    10 Mar 2008

    Industry experts have call-ed into question the feasibility of a government-backed pilot scheme aimed at tackling Britons' debt problems.

  • Purely scheme offers guaranteed rental yields

    10 Mar 2008

    Purely Mortgages and Wyndham York have joined forces to launch a buy-to-let scheme that guarantees a 5% three-year rental yield.

  • Quest launches new anti-fraud tool

    13 Mar 2008

    Quest has launched an anti-fraud tool designed to help quickly uncover suspiciously high valuations.

  • RBSIP hikes five-year rate

    10 Mar 2008

    RBS for Intermdiaries is increasing the rate of its First Active five-year fixed rate remortgage range from 5.6% to 5.75%. The fix applies until April 30 2013 and features a £799 arrangement fee.

  • Record year for Coventry

    10 Mar 2008

    Robust growth in its savings book delivered a 97% increase in Coventry's net mortgage lending last year - a record for the mutual.

  • Remortgage leads on offer at LeadPoint

    10 Mar 2008

    LeadPoint is discounting all remortgage leads sold through its lead packets service.

  • Retaining clients is not a done deal

    10 Mar 2008

    The evolution of the mortgage market, the rise of comparison websites and demand for more products are adding to the pressures brokers face when trying to keep clients, says Sally Laker

  • Richard Griffiths, chief executive, Network Data Holdings

    13 Mar 2008

    Richard Griffiths, chief executive, Network Data Holdings

  • RICS releases home damage cost guide

    14 Mar 2008

    The Royal Institution of Chartered Surveyors has released a guide to calculating home damage cost.

  • Rules to make technology work for you

    10 Mar 2008

    Technology is a necessity for any financial services firm that wants to provide a sustainable, profitable and effective service.

  • Run up

    11 Mar 2008

    With the London marathon only a month away, nerves are jangling for hard-training Vanessa Blount, sales and marketing director at eConveyancer.

  • S&P lowers A&L's long-term credit but outlook is stable

    14 Mar 2008

    Standard & Poor's says although it's lowered Alliance & Leicester's long-term credit rating, changes to the UK bank's funding arrangements mean its off CreditWatch and the outlook is stable.

  • Salt withdraws from sub-prime

    10 Mar 2008

    Salt has withdrawn from the sub-prime mortgage market in response to the uncertain economic outlook and slowdown in house prices.

  • Scarborough shuts specialist arm

    10 Mar 2008

    Scarborough has pulled the plug on its specialist lending arm, Leeds-based Scarborough Specialist Mortgages. The mutual says the decision is due to market changes. SSM pipeline cases will be accepted and brokers have been notified of both SSM product withdrawals and the cut-off point to which applications will be accepted. One source says: "Ever since the plug was pulled on new lending at Amber Homeloans, the worry has been that other firms might go the same way."

  • Scot Wids closes telephone support service

    12 Mar 2008

    Scottish Widows Bank closed its telephone support service from 5pm yesterday evening until March 17 in order to catch up on unprecedented volumes of mortgage applications.

  • Scottish market set for growth

    10 Mar 2008

    The Royal Institution of Chartered Surveyors predicts that the Scottish housing market will grow in 2008. Speaking at the Mortgage Business Expo Glasgow, David Stubbs, senior economist at RICS, said that while house prices were slowing across the UK, he expected the Scottish market to outstrip other parts of the country.

  • Seeking fairness

    10 Mar 2008

    The criticisms recently levelled at the private search industry are unjustified as search firms are governed by a strict code of conduct, says Fiona Hoyle

  • Service to help brokers meet TCF regulations

    10 Mar 2008

    Brokers can monitor their compliance with the Financial Services Authority's Treating Customers Fairly initiative with a new health check offer from compliance specialist MS2M.

  • Sesame launches white paper for brokers

    12 Mar 2008

    Sesame has launched a white paper that calls for clearer lines of responsibility to be drawn on mortgage affordability.

  • Sharing's the way to get on the ladder

    10 Mar 2008

    The Social HomeBuy scheme that allows housing association tenants to buy a share of the properties they're renting offers a lifeline to struggling consumers, says Simon White

  • Six in the City - 10 March 2008

    10 Mar 2008

    Marcel Le Gouais finds common ground with Alastair Campbell when knocking the nationals

  • Sleepy Ed

    10 Mar 2008

    MS editor Robyn Hall was feeling the worse for wear last week after completing a marathon bout of travelling.

  • Small firms must do more to tackle money laundering

    14 Mar 2008

    The Financial Services Authority says that while large and medium sized financial services firms are doing their bit to tackle money laundering, small firms could still do more.

  • SMS launches product research tool

    11 Mar 2008

    Branded mortgage arranger and packager Solent Mortgage Services has launched Solent Enquiry to Application System, allowing intermediaries using any mortgage system to carry out independent product research through the system.

  • So heartbreaking to read of Ollerenshaw's car plight

    10 Mar 2008

    I read about Blackandwhite chairman Chris Ollerenshaw's recent misfortunes with interest (Mortgage Strategy March 3), especially the heartbreaking loss of his classic car collection - a sacrifice he made to keep Blackandwhite afloat.

  • Solent launches online product research service

    11 Mar 2008

    Solent Mortgage Services has launched an online product research service to help brokers undertake independent product research.

  • SPF reports record results for 2007

    14 Mar 2008

    Savills Private Finance says 2007 was a record year for the brokerage with underlying profit before tax rising by 16% from £4.4m in 2006 to £5.1m.

  • Stamp Duty up 82% since 2002

    10 Mar 2008

    Stamp Duty has rocketed by a shocking 82% in just six years, new research from Halifax reveals.

  • Stock Picker

    10 Mar 2008

    End of year results from HSBC rounded off the banks' reporting season last week. Despite record write-downs, the group still managed a £1.1bn increase in pre-tax profits to £12.2bn, with growth in Asia and emerging markets offseting weaknesses in the US.

  • Stroud & Swindon pulls 100% mortgage

    14 Mar 2008

    Stroud & Swindon has become the latest lender to pull its 100% LTV mortgage.

  • Stupid is as stupid does

    14 Mar 2008

    Norwich & Peterborough has unveiled group pre-tax profits for 2007 of £24.3m, up 20.3% on the previous year.Total mortgage assets were up 12.9% on 2006 to £3.2bn and new mortgage advances were £974m.

  • TFC to offer Kensington prime range

    10 Mar 2008

    TFC Homeloans will provide brokers with Kensington’s prime range of mortgages.

  • The consolidators are coming – start planning, now

    13 Mar 2008

    Nick Baxter, director, Mortgage Promotions

  • The Exchange launches call centre CRM system

    14 Mar 2008

    The Exchange has launched a new call centre customer relationship management system, based on its Officeweb back-office solution.

  • The Insider

    13 Mar 2008

    Stupid is as stupid does

  • The time is right to back packagers

    10 Mar 2008

    I'm writing this column on a return flight from the Packager Summit in Monte Carlo, hosted by Mortgage Strategy's sister brand, Mortgagedistributor.co.uk. It was well worth attending.

  • Thinking big

    10 Mar 2008

    As a core part of parent firm Friends Provident's strategy, Sesame has the resources, size and scale to ease the path for its broker members, says head of mortgages and general insurance John Cupis. Christine Toner reports

  • Training days need cash investment

    10 Mar 2008

    Lenders and insurers could benefit the mortgage industry by focussing sponsorship funds on training events for staff who may not have access to inhouse programmes, says Sue Read

  • Trustguard offers 90% self-cert range from Kensington

    10 Mar 2008

    Trustguard is offering a 90% LTV self-cert range funded by Kensington.

  • Trustguard to focus on sales

    10 Mar 2008

    Trustguard has overhauled its mortgage department to focus on sales. The move has seen its mortgage processing split between two departments. A new business arm will focus on enquiries and placing cases while its underwriting arm will look to ensure that applications complete. Following the rejig, brokers will have access to a dedicated new business adviser and an underwriter.

  • Underwriter picks fight

    10 Mar 2008

    Blemain Finance underwriter Dan Nathan will take to the ring later this month to box for charity.

  • Unfair Bank Charges

    12 Mar 2008

    I have just fallen victim to an unfair charge !

  • Up, Up and Away For Mortgage Rates ?

    12 Mar 2008

    I see Halifax, amongst others, is increasing its tracker rates again today which in isolation is not so much of an issue. Taken in the context of the last few weeks, I have never known such a situation.

  • We are the champions

    10 Mar 2008

    Mortgage Strategy was crowned Mortgage Publication of the Year at John Charcol's annual awards ceremony in London last week. This is the third award the magazine has won this year and John Charcol founder John Garfield (pictured right) was on hand to present it to MS editor Robyn Hall.Voted for by John Charcol staff, this is the third time in a row MS has been named the industry's top read.

  • We did not cry crocodile tears over LMS' demise

    10 Mar 2008

    In response to Chris Gardner's recent letter, I'd like Mortgage Strategy readers to know that KGB Packaging has delivered genuine benefits to the brokers who approached us for help follow-ing the collapse of LMS Packaging.

  • We must tempt investors back by focussing on credit quality

    10 Mar 2008

    It's good to know that at least one person has been reading Wave's series of advertorials that have been running in Mortgage Strategy in recent weeks.

  • Website recommends lifetime tracker deals

    10 Mar 2008

    Consumers striving to hedge their bets against interest rate movements should consider lifetime tracker products, Mform.co.uk says.

  • Website slams chancellor's Open Market HomeBuy focus

    13 Mar 2008

    Moneysupermarket.com has dismissed chancellor Alistair Darling's focus on Open Market HomeBuy products in yesterday's Budget as a huge disappointment.

  • Weekly Mortgage Update

    12 Mar 2008

    Our very own Rob Gill - the man of the markets - gives us the following overview :-

  • Welcome efforts to support borrowers

    10 Mar 2008

    It's hard to believe that it's March already and spring has sprung, although there have been Easter eggs on sale in the shops since shortly after Christmas.

  • Wesleyan to grow sales force by 50%

    12 Mar 2008

    Wesleyan Assurance Society is growing its sales force by 50% creating jobs for over 100 financial consultants.

  • What do you want to see in the Budget?

    10 Mar 2008

    It could be judgement day for the chancellor Alistair darling when he reveals his first Budget on Wednesday. Brokers and lenders will be keeping a close eye on the changes, particularly if they involve Stamp Duty.

  • Would you use the government's national money advisory service?

    10 Mar 2008

    A government-commissioned report last week recommended the creation of a national money advisory service. Yvette Cooper, chief secretary to the Treasury, revealed that around £12m will be spent on launching the scheme, which is designed to help people make better decisions about their finances.

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