Mortgage Strategy
12 February 2007

  • Fitch warns on Rooftop portfolio

    12 Feb 2007

    Fitch Ratings has warned Rooftop's securitisation portfolio Farringdon Mortgages No. 2 is likely to continue drawing on its reserve fund in the coming months despite recently plugging a £216,000 gap. Although reserve fund draws do not necessarily mean a rate warning will follow, Fitch says they are indicative of the performance issues seen in the sector.

  • FSA updates online forms

    12 Feb 2007

    The Financial Services Authority unveiled new application forms for home finance providers on its website last Friday.Home finance providers is a generic term which encompasses mortgage lenders as well as firms providing regulated mortgage plans, home reversion plans and home purchase plans (commonly known as Islamic mortgages), which will be regulated by the FSA from April 6. The new forms are shorter with simplified guidance and questions tailored to the applicant's business.

  • MAB appoints brand director

    12 Feb 2007

    Mortgage Advice Bureau has appointed Juliet Glendinning as brand director. She will be responsible for overseeing marketing operations and business development across its network of shops and estate agency franchises.

  • Thinc breaks 4bn barrier

    12 Feb 2007

    Thinc Group broke through the 4bn barrier in mortgage lending for 2006. Group director Alex Murray attributes the growth to a proactive culture, a whole of market approach and exclusive products.

  • 47% of landlords looking to expand portfolio

    13 Feb 2007

    A survey by the Homebuyer Show has revealed that 47% of landlords are looking to expand their portfolio up from 40% the previous year.

  • A high-tech world still needs people

    12 Feb 2007

    Technology has fast moved from being something that looks cool to being an indispensable tool. Half of us would no doubt feel like we'd had our right arms cut off if our mobile phones went dead, our internet went down or our TVs were on the blink.

  • A lifeline for endowment claimants

    12 Feb 2007

    Endowment mis-selling might seem like an old story but policies with shortfalls are still a reality for many clients. To make matters worse, it seems time is running out for people to complain because of the three-year time bar used by insurers under Financial Services Authority rules.

  • Advantage appoints director of projects

    13 Feb 2007

    Advantage has appointed Chris Heather as director of projects.

  • Advantage appoints head of intermediary sales

    14 Feb 2007

    Advantage has appointed Mick Bradley as the new head of intermediary sales for the South of England.

  • Advantage appoints sales manager for the North

    15 Feb 2007

    Advantage has appointed Sally Young as its divisional sales manager for the North of England. Young will be responsible for managing the lenders packager and credit broker business relationships in the region. She joins from Mortgages PLC and will report to Jeremy Duncombe, business development director. Young has over 14 years experience in the financial services sector, of which 11 have been spent in the mortgage industry. Duncombe says: Sally has spent a number ...

  • AFB launches factsheet on CCA

    12 Feb 2007

    The Association of Finance Brokers has launched a factsheet to help members meet the requirements of the Consumer Credit Act 2006. The changes required by the act will be implemented from April 6 and will have a significant effect on the way secured loan brokers do business.

  • Affordability is a drag for brokers

    12 Feb 2007

    Affordability calculations are an imprecise way of assessing what clients can borrow and can leave advisers looking as if they don't know what they are doing, says Sue Read

  • AMI launches quarterly economic bulletin

    15 Feb 2007

    The Association of Mortgage Intermediaries has launched a quarterly economic bulletin providing economic data and an overview of current trends. The bulletin for Q1 showed that Consumer Price Inflation has hit its highest level since the Bank of England took charge of monetary policy and is likely to head higher.

  • Anger at packager's service

    12 Feb 2007

    An angry broker has called for packagers to improve their service after suffering from shoddy practices at the hands of one distributor.

  • Appointment at GHL Group

    12 Feb 2007

    GHL Group has appointed Sandi Moon as operations director.

  • Average house price nears £200,000, says Assetz

    14 Feb 2007

    Assetz House Price Watch has announced the average home price in January neared £200,000.

  • AVMs are green, says Hometrack

    12 Feb 2007

    Lenders that use automated valuation models are helping protect the environment, says Hometrack. It says many lenders use AVMs because they can offer accuracy, cost savings and the ability to deliver point-of-sale mortgages. But Hometrack also points out that more than 10,000,000 surveyor road miles could be saved over the next 12 months by lenders using AVMs.

  • AVMs could save lenders billions, says Hometrack

    14 Feb 2007

    UK mortgage lenders who raise finance secured against their mortgage assets could release billions of pounds as they move to Automated Valuation Models, says Hometrack.

  • B2L deals below 75% LTV popular

    12 Feb 2007

    Over two-thirds of all buy-to-let applications in December were for mortgage products under 75% LTV, says Alliance & Leicester. People opting for buy-to-let deals below 75% LTV put down an average deposit of over £82,000.

  • B2L not pushing up prices

    12 Feb 2007

    The burgeoning buy-to-let market is not to blame for rising house prices, says a top property academic.

  • Banksy for sale, house included

    12 Feb 2007

    The sellers of a Bristol house featuring a mural by the famous graffiti artist Banksy have decided to market the mural and offer the house as an added extra in order to safeguard the work.

  • Basinghall in distribution deal with two brokerages

    12 Feb 2007

    Basinghall Finance last week unveiled a long-term profit sharing distribution deal with brokerages Savills Private Finance and John Charcol.

  • BDS offers romantic getaway prize

    13 Feb 2007

    BDS is offering a broker a weekend away to Paris for two in its prize draw.

  • Beacon appoints GB for online ID checks

    15 Feb 2007

    Beacon has appointed GB Group to tackle fraud and offer an identity checking service to its packagers. Beacon will be using GB's online electronic identity verification service, URU, to verify the identity of new UK customers before proceeding with applications. URU, which confirms the identity of applicants within seconds, allows Beacon to process applications far faster and reduce fraud.

  • Beacon revamps lending criteria

    12 Feb 2007

    Beacon Homeloans has revamped its lending criteria by increasing LTVs and reducing rental requirements. Changes include rental income calculations being based on initial pay rate. Also, borrowers wishing to remortgage with Beacon will be eligible for loans up to 90% LTV.

  • Bespoke to sponsor Saracens

    15 Feb 2007

    Bespoke Mortgages is to sponsor Saracens rugby club with the brand name appearing on the back of playing jerseys for the 2007 - 2008 Guinness premiership season. A spokesman for Bespoke says: “We have been looking to increase our brand awareness both locally and nationally.

  • Blackwell joins C&G as head of specialist sales

    12 Feb 2007

    Cheltenham & Gloucester has appointed Mark Blackwell as head of corporate and specialist intermediary sales.

  • BM scoops top spot in buy-to-let

    14 Feb 2007

    The Council of Mortgage Lenders figures showed that BM Solutions was the number one lender in the buy-to-let market in 2006, based on gross advances. The figures also showed that the buy-to-let market represents 9% of the total value of UK residential mortgage balances, with outstanding mortgage balances now worth 94.8bn.

  • BoS launches two-year trackers

    16 Feb 2007

    Bank of Scotland Mortgages is launching two tracker products on February 16. The products are both two year trackers.

  • BoS revamps self-cert range

    16 Feb 2007

    Bank of Scotland Mortgages is revamping its self-cert range with the launch of six products on February 16.

  • Bright Grey to launch mortgage campaign

    15 Feb 2007

    Bright Grey, the protection specialist arm of Royal London Group, is set to launch a strategic campaign targeted at mortgage advisers.

  • Brightsale to mark sales with trees

    12 Feb 2007

    BrightSale.co.uk has revealed that it will plant a tree in the National Forest for every property it sells. The campaign, in conjunction with the National Forest Company, is intended to offset a proportion of the carbon produced in the process of advertising and selling properties. Andy Etches, managing director of BrightSale.co.uk, says: "It is becoming increasingly apparent that we are all going to have to do our bit to help the environment. At BrightSale.co.uk we understand that ...

  • Britain's inflation highest in Europe, says Lib Dems

    12 Feb 2007

    Britain has the highest rate of consumer price inflation in Western Europe, figures from the Liberal Democrat party highlight in advance of the monthly inflation release.

  • Brokers must be paying for salary rises at the FSCS

    12 Feb 2007

    From Brian Bates

  • Brokers must clean up their act fast

    12 Feb 2007

    Intermediaries need to boost their performance in the face of competition from the likes of Tesco and growing consumer mistrust in the financial services sector, says Justine Tomlinson

  • Brokers must consider their futures

    12 Feb 2007

    If you have ever known a builder, plumber, carpenter or electrician you will know that their house usually has the most unfinished jobs. Maybe lawyers cut corners with their own conveyancing and accountants miss their tax return deadlines too.

  • Brokers would send clients for advice on IVAs

    12 Feb 2007

    A whopping 84% of Mortgage Strategy Online readers say they would recommend that their clients seek specialist advice if they want to take out individual voluntary arrangements. Just 16% say they would not.

  • Burgess can't keep the cork in his bottle of vitriol

    12 Feb 2007

    From Andrew Weir

  • Burgess should stop sucking up to the FSA when it comes to single premium PPI

    12 Feb 2007

    From Terry Pritchard

  • Burns-Anderson launches network member charter

    16 Feb 2007

    Financial adviser network, Burns-Anderson, has launched a new charter pledging its commitment to work on behalf of its members interests.

  • Buy-to-let grew up in 2006, says B&B

    14 Feb 2007

    Bradford & Bingley Group says that record lending in the buy-to-let sector shows enormous confidence in the sector.

  • Buy-to-let hits 38.4bn in 2006, says CML

    14 Feb 2007

    The Council of Mortgage Lenders has revealed that 330,000 buy-to-let mortgages, worth a total of 38.4bn, were taken out in 2006.

  • Buy-to-let is an established market, says A&L

    14 Feb 2007

    Alliance & Leicester says figures from the Council of Mortgage Lenders show that buy-to-let is an established market.

  • C2 to snub both Expos again

    12 Feb 2007

    c2-Financial has confirmed it will be boycotting the Mortgage Business Expos in London and Manchester for the second year running.

  • Call for stricter B2L regulation

    12 Feb 2007

    Moore & Blatch has called for more stringent regulation of the buy-to-let sector due to concerns that buyers lack awareness of its downsides.

  • Chase de Vere founder joins Convex board

    12 Feb 2007

    Paul Marks, the founder of Chase De Vere, has joined Convex Conveyancing as a non-executive director.

  • Chelsea scoops PR award for staff celebrations

    16 Feb 2007

    Chelsea has won an award for use of internal communication at the annual Chartered Institute of Public Relations Awards.

  • CHL ups lending on B2L properties

    12 Feb 2007

    CHL Mortgages is offering a higher lending limit of £3m on single buy-to-let properties.

  • CII equity release certificate accredited

    15 Feb 2007

    A new certificate in equity release from the Chartered Insurance Institute has been accredited by the examinations regulator the Qualifications & Curriculum Authority.

  • CII unveils 1m training initiative

    12 Feb 2007

    The Chartered Insurance Institute has unveiled a 1m initiative drive to raise standards in the mortgage market.

  • Citizens Advice reports increased Council Tax problems

    16 Feb 2007

    The number of people approaching Citizens Advice with debt problems relating to Council Tax increased sharply over the past year.

  • Commercial opportunities for brokers

    12 Feb 2007

    With three rises in the base rate since August 2006 and some pundits predicting a further rise in the next two months, there must be concern in the market regarding people's appetite for borrowing and how this will affect business levels.

  • Council Tax will stay in the headlines

    12 Feb 2007

    Council Tax is set to make more headlines in 2007. The Conservative Party has already picked up the baton, claiming the government is planning to introduce annual revaluations by stealth in England, based on a similar system being introduced in Northern Ireland. This has been denied by the government.

  • Couple must cough up for repairs to church

    12 Feb 2007

    A High Court judge has ruled that the Warwickshire couple who were facing a 200,000 repair bill for a parish church on their farmland will have to pay up.

  • Credit is due to credit repair lenders

    12 Feb 2007

    A press release that caught my eye recently was put out by the Insolvency Service. It dealt with the number of individuals applying for individual voluntary arrangements.

  • CurriculumVitae

    12 Feb 2007

    "I love all sports, particularly basketball."

  • Dale Knight leaves Prestbury

    12 Feb 2007

    Dale Knight, sales director for the South at Prestbury Financial, has been made redundant after just 12 months in the role.

  • DB takes on 17 underwriters

    12 Feb 2007

    DB Mortgages has recruited 17 underwriters to be based in packagers' offices around the country. Mark Bergin, director of sales and marketing at DB, says: ''We are starting to fulfil a plan through our packaging partners, and this will soon expand to provide coverage in many areas of the country."

  • Dear Delia

    12 Feb 2007

    Due to overspending at Christmas, Rebecca and Jason have missed two mortgage payments and because of credit card arrears Jason has incurred a County Court judgement of 1,500 which is unsatisfied. The couple have a combined income of 62,000. The amount outstanding on their mortgage is 145,000 and their property is worth 210,000. Their debts are about 20,000 and they are looking for a two-year fixed deal. Is debt consolidation the answer?

  • December lending figure highest on record at 28.6bn

    13 Feb 2007

    Gross mortgage lending in December was the highest December figure on record at 28.6bn, even after it fell 14% from November's all-time high of 33.2bn, according to the Council of Mortgage Lenders.

  • Dictator's henchman removed from equity release website

    14 Feb 2007

    Home & Capital Trust has removed an equity release case study from its website after it was alleged he was the confidante of former Ugandan dictator Idi Amin.

  • Dictator's henchman the face of equity release

    12 Feb 2007

    Home reversion specialist Home & Capital Trust has allegedly used the confidante of former Ugandan dictator Idi Amin as a case study to advertise its products online.

  • Discount deal from the Coventry

    13 Feb 2007

    The Coventry has released a discounted product at 4.89%.

  • Distribution agreement

    12 Feb 2007

    Nationwide and Legal & General have signed a distribution agreement for the supply of life insurance, investment and pension products.

  • Dudgeon laughs off HBOS job rumour

    12 Feb 2007

    Bill Dudgeon, managing director of DB Mortgages, has put paid to rumours that he is looking to quit the lender and insists he's in for the long haul.

  • Easier2Move competition

    12 Feb 2007

    Easier2Move has launched a competition for its introducers. The broker who introduces most cases between the January 14 and the April 15 will win £2,000 worth of holiday vouchers.

  • eConveyancer adds solicitors to Openwork panel

    15 Feb 2007

    eConveyancer has extended its panel of Openwork preferred solicitors to include Loosemores and McVey & Murricane. These two firms, along with others on the Openwork preferred panel, undertake to provide service to Openworks 800 financial advice firms and 2,300 financial advisers. Alan Dring, sales director of eConveyancer, says: The Openwork preferred panel now consists of a small number of large legal firms who are able to guarantee a high quality service on a no completion, ...

  • em- offers free valuations for Rooftop

    12 Feb 2007

    em-homeloans is offering free valuations and no application fees on the new Rooftop buy-to-let two-year fixed and discount products.

  • EMF reports growth in UK and Greek mortgage markets

    16 Feb 2007

    The UK and Greece have seen strong mortgage market growth, reveals the European Mortgage Federations review for Q3 2006.

  • Emjoins Thinc packager panel

    12 Feb 2007

    Emhas become the latest packager to join Thinc Group's panel. The packager's advisers will now be able to offer its services in the specialist sub-prime sector to Thinc's brokers.

  • Enterprise and SMS report high Advantage levels

    12 Feb 2007

    Enterprise Group and Solent Mortgage Services have reported unprecedented levels of new business received for Advantages product exclusive.

  • Esther Rantzen to front equity release marketing campaign for Cavendish

    12 Feb 2007

    Consumer champion Esther Rantzen (pictured) is to star in Cavendish Equity Release's advertising and marketing campaigns this year.

  • Fear of rate rise in spring

    12 Feb 2007

    The mortgage market is bracing itself for interest rates to rise again in spring despite some experts saying a further rise is unnecessary.

  • Financial practice for Michelmores

    12 Feb 2007

    Michelmores Solicitors has launched a financial services and markets practice, operating out of the firm's London and Exeter offices. The practice will be led by Philip Ryley, former head of financial services regulation at Bristol-based TLT Solicitors.

  • First-timers stretching themselves, warns RICS

    13 Feb 2007

    The Royal Institute of Chartered Surveyors says first-time buyers are increasingly stretching themselves to afford a home.

  • Fitch nervy about sub-prime criteria

    12 Feb 2007

    Fitch Ratings has issued a warning about deteriorating affordability measures and looser underwriting criteria in the sub-prime sector.

  • FP Advance appoints senior consultant

    16 Feb 2007

    FP Advance has appointed Jim Constable as senior consultant.

  • Free valuation offer on Rooftop deals via Oryen

    12 Feb 2007

    Oryen Mortgage Finance is offering free valuations across the Rooftop product range, including buy-to-let deals.

  • Freedom adds Praxis to panel

    16 Feb 2007

    Freedom Lending, the prime niche lending subsidiary of Merrill Lynch, has added Praxis to its lending panel.

  • Freedom launches buy-to-let trackers

    16 Feb 2007

    Freedom Lending has launched two limited edition buy-to-let tracker products.

  • Freedom releases prime self-cert

    14 Feb 2007

    Freedom Lending has released two and three year prime self-cert products.

  • Fresh buyout bid for Countrywide

    12 Feb 2007

    Countrywide has confirmed that it has received a preliminary buyout bid from an unnamed suitor following the collapse of acquisition negotiations with 3i.

  • FSA fine for mis-selling was overdue

    12 Feb 2007

    It's good to see the Financial Services Authority dishing out a substantial fine for the mis-selling of payment protection insurance but I can't help feeling that this is a penalty that was long overdue.

  • FSA fines Capital One for PPI mis-selling

    15 Feb 2007

    The Financial Services Authority has fined Capital One 175,000 for failing to have adequate systems and controls for selling payment protection insurance and for failing to treat its customers fairly.

  • FSA fines Nationwide 1m

    14 Feb 2007

    The Financial Services Authority has fined Nationwide 980,000 for security failures after the theft of a laptop from a Nationwide employee's home last year.

  • FSA publishes latest mortgage newsletter

    16 Feb 2007

    The Financial Services Authority has published its latest newsletter for mortgage advisers.

  • Genworth appoints PPI chief

    13 Feb 2007

    Genworth Financial has appointed Ralf Meurer as the new president and chief executive of its Payment Protection Insurance business.

  • GMAC offers deals to cash in on sub-prime boom

    12 Feb 2007

    GMAC-RFC is predicting a boom in the sub-prime sector in 2007 as repossessions and bankruptcies continue to rise.

  • GMAC reshuffles sales department

    12 Feb 2007

    GMAC-RFC has announced four promotions and one appointment to its partner division.Mark Bonshor and Gordon Rae have been promoted to the newly-created positions of divisional managers. Imelda Harding and Hayley Young have been promoted from regional sales executives to business development managers. Lee Shuell joins GMAC-RFC as a BDM from Infinity Mortgages.

  • Government bites back at loan sharks

    15 Feb 2007

    Two government-funded projects to tackle loan sharks have identified over 200 illegal lenders and saved more than £3m from the pockets of their victims.

  • Grainger buys Church of England mortgages

    12 Feb 2007

    Grainger Trust has bought 1,300 mortgages from the Church of England Pensions Board.

  • Half of teenagers are debt-stricken by 17, says survey

    13 Feb 2007

    The Personal Finance Education Group released survey results which show that over half of England’s teenagers have been or are in debt by the time they are 17.

  • Halifax awards LMS panel manager status

    12 Feb 2007

    Halifax has appointed LMS as panel manager of its online and telephone conveyancing service. The conveyancing service has been offered by Halifax since 2003 and includes features such as 'no move, no legal fee', a guaranteed fixed price quotation and an online tracking service. The three-year online and telephone conveyancing contract follows a recent tender process. Nina Morton-Brook, head of legal products at Halifax, says: The Halifax online and telephone conveyancing ...

  • Halifax website available via PDA

    12 Feb 2007

    Halifax has launched a version of its intermediary website which can be accessed via PDAs.

  • HBOS ups stake in Sainsbury's Bank

    12 Feb 2007

    HBOS has bought an additional 5% of the shares in Sainsbury's Bank for £21m from J Sainsbury. This means that Sainsbury's Bank, which began trading in February 1997, is now a 50:50 venture between HBOS and Sainsbury's.

  • Help clients with their financial health

    12 Feb 2007

    Recent research shows we are a nation of wannabes when it comes to health and fitness. It appears that our motivation can't match up to our intentions and despite acknowledging that we need to exercise more and eat healthily, it's only the minority who practice what they preach.

  • HIP train should be stopped before it hits the buffers

    12 Feb 2007

    From David Meddick

  • Homeowners curb debt

    12 Feb 2007

    Homeowners with mortgages have actually reduced their unsecured borrowings by an average of 197 during 2006, says Alliance & Leicester.

  • House price inflation up, says DCLG

    12 Feb 2007

    The latest Department for Communities and Local Government house price index shows UK annual house price inflation in December 2006 was 9.9%, up from 8.8% in November 2006.

  • Housing remains steady in January

    14 Feb 2007

    The National Association of Estate Agents has revealed a positive overall national picture in the residential housing market for the start of 2007.

  • HSBC hikes bad debt reserve

    12 Feb 2007

    Anticipating a huge jump in sub-prime second lien del-inquencies in the US, HSBC increased its bad debt reserve to $10.56bn last week.

  • IFA Consortium Protection Panel appoints Bright Grey

    16 Feb 2007

    Bright Grey has been appointed to the IFA Consortium Protection Panel.

  • IFS urges brokers to get buy-to-let qualified

    14 Feb 2007

    The IFS School of Finance has called for more mortgage advisers and brokers to consider gaining specialised qualifications in the buy-to-let market.

  • Inflation drops from 3% to 2.7%

    14 Feb 2007

    The Bank of England has today revealed that inflation eased over January, dropping from 3% to 2.7%.

  • Inflation eases in January

    13 Feb 2007

  • InterBay appointment

    12 Feb 2007

    InterBay has appointed Mark Parrett as operations manager. He joins from Abbey Life and will be responsible for the processing and management of all loan files.

  • Interest in Home Inspection Diplomas on the rise

    12 Feb 2007

    The Association of Home Information Pack Providers has confirmed that interest in Home Inspection Diplomas has increased, with over 600 applicants signing up for training at assessment centres since the beginning of the year.

  • ISA savers switching for the best rates, says IF

    16 Feb 2007

    A record number of ISA savers intend to switch providers to get a better rate, research commissioned by Intelligent Finance reveals.

  • IT has drawbacks as well as benefits

    12 Feb 2007

    An old boss of mine used to react to the phrase "It goes without saying..." with a fairly frosty "Then why say it?" It seemed reasonable to a point. So it goes without saying that we live in an increasingly automated world, in both our personal and professional lives.

  • It's time to call in pipeline business

    12 Feb 2007

    Isn't it typical that as soon as you mention that equity release interest rates are holding their own, around the corner comes a wave of rate changes?

  • Jobs

    12 Feb 2007

    If all BDMs were as organised as Matt Latham there would be no need for any lenders to receive phone calls from brokers or packagers, says Rachel Bancroft

  • Keep track of promotions

    12 Feb 2007

    Home Buyer Systems has reminded brokers to keep records of marketing promotions as the Financial Service Authority starts its Treating Customers Fairly drive.

  • Kelly to help social housing tenants onto ladder

    13 Feb 2007

    Communities secretary Ruth Kelly is planning to help social housing tenants get on the property ladder by letting them buy as little as 10% of their property.

  • Kensington enters prime market

    12 Feb 2007

    Kensington Mortgages has entered the prime market with a range of deals for borrowers with specialist needs. Despite annual results which showed 17% growth in the Kensington Group as a whole, Kensington Mortgages' sub-prime proposition only achieved 1% in 2006. This was largely attributed to new entrants in the sub-prime market leading to tighter margins.Kensington Mortgages has decided to respond to this situation by launching a prime product range for customers with specialist needs.

  • L&C adviser wins trip to New York

    12 Feb 2007

    An adviser at London & Country has submitted the 500,000th trans-action on the Mortgage Trading Exchange, winning a luxury trip for two to New York.

  • L&G introduces Platform products

    12 Feb 2007

    Legal & General Mortgage Club is offering several fixed rate and tracker products funded by Platform.

  • Labour has made HIPs useless by mucking about with them

    12 Feb 2007

    From Jim Gillespie

  • Landlord Mortgages calls for deals on small properties

    13 Feb 2007

    Landlord Mortgages has called for lenders to offer buy-to-let mortgages on properties smaller than 25 square metres.

  • Landlords warned about high fees

    12 Feb 2007

    Moneyfacts.co.uk is warning buy-to-let landlords to be aware of the potential pitfalls of low interest rate products which have hefty fees and charges. It adds that landlords should seek independent financial advice when choosing mortgages.

  • Lenders in the slow lane are holding us all back

    12 Feb 2007

    It's always frustrating when firms that are unable to match the high standards being set in the market choose to rubbish those standards rather than try to attain them.

  • London prices up 0.5% in January

    12 Feb 2007

    The average London house price increased by 0.5% in January to £260,140, says haart estate agents.Despite the recent base rate rise, confidence is high and January applicant numbers in haart's London branches were up 30% on the same month last year.

  • Lovers judge by appearances, warns survey

    12 Feb 2007

    The majority of people judge their prospective partners on the appearance of their home, reveals new research by Propertyfinder.com.

  • Make your clients aware of exit fees

    12 Feb 2007

    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

  • Manchester revamps sub-prime product range

    16 Feb 2007

    Manchester has revamped its sub-prime product range including near prime, light and medium adverse mortgage schemes.

  • Marketwatch

    12 Feb 2007

    Swaps reversed their falls of the previous week and edged back up. One-year money is precariously close to 6%. It will be interesting to see what happens to swaps following the Monetary Policy Committee's base rate hold last Thursday.

  • 'Mates mortgages' not without their problems, says moneyfacts

    13 Feb 2007

    Group mortgage applications are offering first-time buyers the chance to get onto the property ladder but they are not without their complications, says moneyfacts.co.uk.

  • Me & My Car

    12 Feb 2007

    My Mercedes CLK has become a firm friend but lack of boot space is a problem, especially when carrying golf clubs or picking up the in-laws from the airport, says Paul Lipton-Rose

  • Media hysteria is hitting PPI take-up

    12 Feb 2007

    The wave of hysteria which passes for press coverage on the subject of payment protection insurance has reached such a pitch that if we are not careful, the confidence that people have in the concept of protection will be irrevocably eroded.

  • MEX gives strange reasons to justify self-cert deals

    12 Feb 2007

    Name and address supplied

  • Mole

    12 Feb 2007

    Lost

  • Money Partners revamps websites

    12 Feb 2007

    Money Partners has relaunched its public-facing websites. They complement the propositions of Money Partners and Money Partners Touch, the direct-to-broker channel, and feature an express accreditation facility for brokers.

  • Mortgage Minds to host broker recruitment day

    13 Feb 2007

    Mortgage Minds is holding a broker recruitment open day on March 15 to attract new advisers.

  • Mosaic signs up 160 member firms

    12 Feb 2007

    Mosaic Mortgage Club revealed last week that it has registered over 160 directly authorised firms, comprising 479 advisers, in its first six months of business.

  • MPLC joins Openwork panel

    12 Feb 2007

    Mortgages PLC has been appointed to Openworks lender panel.

  • MPLC updates range

    14 Feb 2007

    Mortgages PLC has updated several products on its fixed and self-cert range.

  • MPs call for IHT to be scrapped

    12 Feb 2007

    A group of MPs last week signed an early day motion calling for Inheritance Tax to be scrapped. On February 5, the eight MPs put the motion before the House of Commons. This may lead to further debate on the issue. The motion states that four out of 10 households face paying IHT and rising property prices mean millions of ordinary families are affected.

  • MPs call on lenders to maintain fixed rates

    12 Feb 2007

    MPs were upin arms last week after lenders pulled a swathe of fixed rate mortgage products in response to the Bank of England hiking interest rates in January.

  • MPs should help in the real world

    12 Feb 2007

    Politicians should stop dreaming of an ideal interest rate world and instead start providing incentives to the next generation of potential home buyers, says Sally Laker

  • MS named best mortgage magazine by John Charcol

    13 Feb 2007

    Mortgage Strategy has won mortgage publication of the year in the annual John Charcol awards.

  • MSN appoints sales manager in push for growth

    12 Feb 2007

    Mortgage Support Network has appointed Laurence Brown as national sales manager.

  • MT launches fixed rate deals

    12 Feb 2007

    Mortgage Trust has unveiled a number of fixed rate products in its Select and core ranges.

  • Muslim mortgage approvals hit 100m

    13 Feb 2007

    Islamic bank alburaq has reported that it has approved over 100m worth of mortgage business over the last six months.

  • Networks' financial strength matters

    12 Feb 2007

    An issue that is discussed occasionally but never brought to the fore in terms of importance when making decisions about which network brokers should choose or stay with, is networks' financial standing.

  • Nick Hancock quits Earth

    12 Feb 2007

    TV funnyman Nick Hancock has quit as sales and marketing director of Earth Mortgages, the Yorkshire-based specialist mortgage intermediary he joined less than 18 months ago.

  • Non-executive director for Crown

    12 Feb 2007

    Crown Mortgage Management has appointed Paul Marks as a non-executive director.He has held senior positions in the mortgage industry and will work with senior management to develop the outsourcing provider's presence in the residential market.

  • NR hits back in LTV price war

    12 Feb 2007

    Northern Rock has pushed the LTV limits of several of its products as the price war with BM Solutions continues.

  • NU raises interest rate on lifetime mortgage plans

    12 Feb 2007

    Norwich Union has today raised the interest rates on its cash reserve option and fixed rate lifetime mortgage plans. The typical interest rate on the cash reserve option introduced by NU’s direct salesforce will be raised from 6.65% to 6.8%. The overall cost for comparison is 7.2%APR.

  • One way or another, clients will pay

    12 Feb 2007

    Lenders are likely to compensate for lower exit fees by raising their arrangement charges so clients would be wise to add these to their mortgage repayments, says Mark Harris

  • Opework launches self-cert tracker

    12 Feb 2007

    Openwork has released a self-cert three-year tracker funded by Platform. The tracker is available across three LTV bands, with rates starting from 5.54%.

  • Optoma appoints underwriter

    16 Feb 2007

    Optoma Broker Solutions has appointed an onsite underwriter for DB Mortgages. Francis Michaelis will join a team of 10 onsite underwriters at Optoma's Leatherhead office from Monday February 19. Chris Smith, new business manager of Optoma, says: "We are really pleased to have Francis working with us as she will provide us with a real advantage in the speed of offer production.

  • Optoma offers nationwide franchise opportunities

    14 Feb 2007

    Optoma Broker Solutions has unveiled a number of franchise opportunities throughout the UK.

  • Optoma sees more business for First National fixes

    13 Feb 2007

    Optoma has increased numbers of enquiries for First National after the lender froze its fixed rate products. Chris Smith, new business manager at Optoma, says: First National's already strong rates have become even more appealing as other lenders have been forced to price up, but brokers shouldn't hang around as rates are set to be refreshed next week and there will be a deadline for fully packaged applications. Phil Hearn, national account manager for First National at ...

  • Owners' confidence falls

    12 Feb 2007

    Home owners without savings suffered a massive blow to their confidence after January's base rate rise, research reveals.

  • Packagers can use IT to get ahead

    12 Feb 2007

    Packagers have the chance to become the sub-prime portal of choice for brokers if they can effectively use technology to streamline their processing systems, says Frank Eve

  • Packaging is a bigger business, says Jannels

    12 Feb 2007

    Vic Jannels, group managing director at All Types of Mortgages, says that estimates of the size of the packaging market fall short of the true figure.

  • Paragon comments on CML buy-to-let figures

    14 Feb 2007

    Paragon says strong tenant demand is fuelling the growing buy-to-let market, following The Council of Mortgage Lenders announcement that buy-to-let mortgages totaled 38.4bn in 2006.

  • Partnership scheme to help first-timers unveiled

    12 Feb 2007

    A scheme has been launched that allows first-time buyers to go into partnership with investors as a way of aff-ording new homes.

  • Pensioners leave benefits unclaimed

    12 Feb 2007

    Help the Aged has warned that over £1.3bn worth of Council Tax benefit is lying unclaimed by pensioners, with just 53% of pensioners taking up this benefit.

  • Pensioners living abroad waste £300m a year, says HIFX

    12 Feb 2007

    British pensioners living abroad could be wasting over £300m a year due to unnecessary bank charges and fluctuating exchange rates when they cash their pensions, says foreign exchange broker HIFX.

  • Performance beyond the call of duty

    12 Feb 2007

    Brokers may have to go beyond strict adherence to the rules to achieve the six desired outcomes of the regulator's Treating Customers Fairly initiative, says Bill Warren

  • Personal Touch appoints directors

    12 Feb 2007

    Personal Touch Packaging has appointed three directors to its board. Michelle Harriss has been promoted to marketing and communications director, Sam Cross has taken up the role of operations director and John Manning becomes sales director.

  • Personal Touch defends BDM incentive

    13 Feb 2007

    Personal Touch Financial Services has defended its decision to reward lenders' own BDMs for promoting its mortgage club following fierce criticism from both lenders and competitors.

  • Personal Touch is still not a mortgage network, Dev

    12 Feb 2007

    From Richard Griffiths

  • Pink conference attracts 300 delegates

    15 Feb 2007

    Pink Home Loans says its first annual conference was a huge success with over 300 delegates attending.

  • Pinnacle offers free legals with TMB

    13 Feb 2007

    Pinnacle is now offering its free legals package on all The Mortgage Business buy-to-let remortgage products, including the House 2 House scheme.

  • Platform appoints new BDM

    14 Feb 2007

    Platform has appointed Lawrence Farrall to the role of business development manager within the companys sales department.

  • Platform launches new trackers with PMS

    12 Feb 2007

    Platform has launched three tracker products with Premier Mortgage Service.

  • PMPA offers cashback on Preferred fixed rates

    12 Feb 2007

    The Professional Mortgage Packagers Alliance is offering 350 cashback to customers on Preferreds two and three-year fixed rates.

  • PMS' Atkins narrowly avoids Litvinenko fate

    12 Feb 2007

    One of the key players in the mortgage market almost stepped into the radioactive shadow of poison victim Alexander Litvinenko after sharing a night at the doomed former spy's hotel.

  • Poland is Europe's hotspot

    12 Feb 2007

    Poland has become Europe's top property hotspot after house prices soared by a third in 2006.

  • Portman launches 100% mortgage with no fees

    14 Feb 2007

    Portman is launching a number of 100% LTV products with no arrangement or valuation fees. Its five-year fixed is being offered at 5.99%, three-year fixed at 6.13% and the two-year fixed at 6.19%. As well as no fees, there are no higher lending charges on these fixed rates.

  • Positive shares £8m in profits

    12 Feb 2007

    More than 800 partners of Positive Solutions have shared in the latest £8m payout from the IFA's Prophitshare incentive scheme.Each partner received an average of over £9,000.

  • Preferred unveils buy-to-let range

    12 Feb 2007

    Preferred has launched a range of deals offering a 0.2% reduction on all buy-to-let products. The range also includes discounted rates from 4.65% and two-year fixed rates starting at 5.39%.

  • Prices expected to keep rising

    12 Feb 2007

    Consumers predict continued house price growth but are less confident about making large purchases than this time last year, says Nationwide.

  • Punishing clients for shopping around

    12 Feb 2007

    I'm in the market for a new winter coat at the moment and to this end I have looked at dozens in magazines and in shops. I've even tried one or two coats on.

  • Rate rises hit new homes in January

    15 Feb 2007

    New house prices dipped slightly at the start of 2007 as a result of interest rate rises, says SmartNewHomes.com.

  • Regeneration agency must think big

    12 Feb 2007

    A 4bn regeneration agency known as Communities England has just been announced by the government. The agency was announced by Ruth Kelly, secretary of state for Communities and Local Government, on January 17. It will be formed by a merger of the Housing Corporation and English Partnerships and will inherit the responsibilities of these two organisations.

  • Renters stay for longer, says Moneyfacts

    15 Feb 2007

    Buy-to-let is still a worthwhile investment as tenants are staying in rented properties for longer than ever, says Moneyfacts.

  • Repossessions highlight need for MPPI, says British Insurance

    13 Feb 2007

    Growing repossession levels have highlighted the need for home owners to take out adequate Mortgage Payment Protection Insurance to ensure they are covered against accidents or unemployment, says British Insurance.

  • Residential lending up at B&B while profits fall

    13 Feb 2007

    Bradford & Bingley has reported a record year for 2006, with gross new residential lending up 43% to £10.3bn despite a fall in statutory profits.

  • Revenue & Customs sets sights on landlords' profits

    12 Feb 2007

    Revenue & Customs has indicated it has its eye on buy-to-let after issuing a warning to landlords to declare their earnings and pay tax on profits from their property investments.

  • Robinson quits RBS for edeus

    14 Feb 2007

    Jim Robinson has resigned his position as marketing manager at the Royal Bank of Scotland and is believed to be joining edeus as packaging relationship manager.

  • Rooftop makes key appointments

    12 Feb 2007

    Rooftop Mortgages has made a number of key management appointments to support its continuing growth, including former head of marketing at em-financial Stuart Brumhill.

  • RPS offers online income protection

    15 Feb 2007

    Risk Placement Services has launched online income protection and interim cove to its portfolio of insurer products.

  • Savvy packagers will survive and prosper

    12 Feb 2007

    The role of packagers in the mortgage market has developed significantly in recent years, and they now have a significant influence in niche mortgage sectors.

  • Scots broker wins Rolex watches in edeus draw

    12 Feb 2007

    Mortgage Strategy editor Robyn Hall (left) and edeus chief executive Michael Bolton (right) present Jim Wylie, from Jim Wylie Mortgage and Financial Services, Scotland, with his prize after he scooped his and hers 18 carat gold Rolex Oyster Perpetual watches worth £25,000. As well as earning an extra £75 proc fee, every application to edeus before Christmas was entered into a prize draw. Wylie was also treated to a night at the Grosvenor House Hotel and tickets to watch ...

  • Secured more competitive than unsecured, says MoneyExpert.com

    15 Feb 2007

    Home owners in need of a larger cash advance can now choose from secured loan deals that are more competitive than the average unsecured loan rate, says MoneyExpert.com.

  • Self-employed confident, reveals Kensington index

    15 Feb 2007

    Nearly a third of the self-employed are "very confident" about the prospects for their business over the next six months, says Kensington Mortgages.

  • Should lenders be made to justify the exit fees they charge borrowers?

    12 Feb 2007

    The FSA will take a dim view of lenders that don't justify their exit fees or offer guarantees at the outset of deals, say our experts

  • SimplyBiz to go whole of market with Trigold

    13 Feb 2007

    SimplyBiz Mortgages white-labelled version of Trigolds Prospector sourcing system will now be going whole of market. Jason Graham, joint managing director of SimplyBiz Mortgages, says: Our mortgage club goes from strength to strength with application volumes rising over every quarter of 2006.

  • SLB to relaunch its flexible range

    12 Feb 2007

    Standard Life Bank is on the brink of another relaunch of its flexible mortgage range as it strives to reposition itself for self-employed borrowers.

  • SMS reinstates Rooftop on lender panel

    12 Feb 2007

    Solent Mortgage Services has reinstated Rooftop Mortgages on its lender panel and will be marketing the lender's product range.

  • Stamp Duty certificates can now be sent online

    12 Feb 2007

    Home buyers can now receive their certificates for Stamp Duty online rather than having to rely on snail mail.

  • Stonehaven unveils high yield deal

    12 Feb 2007

    Stonehaven has launched the highest yielding equity release product available in the UK market to appeal to home owners looking to withdraw the maximum amount from their homes.

  • Sub-prime securities improved, says Fitch

    14 Feb 2007

    Fitch Ratings says that the overall UK sub-prime residential mortgage-backed securities were improved at Q4 2006 from the previous year.

  • Support your clients in tough times

    12 Feb 2007

    A number of recent announcements have poin-ted towards the possibility of a gloomy outlook for the housing market. For example, figures from the Council of Mortgage Lenders show a continuing rise in repossessions.

  • Take lifetime exam soon, says SHIP

    12 Feb 2007

    Safe Home Income Plans is urging financial advisers to take the lifetime mortgage exam before its August 1 deadline.

  • Tarring MPPI with the same brush as PPI is damaging

    12 Feb 2007

    From Thomas Reeh

  • TBMC creates regional roles to boost service

    12 Feb 2007

    The Business Mortgage Company has expanded its commercial division with the creation of three specialised roles.

  • Tenancy deposit scheme reminder

    12 Feb 2007

    The Tenancy Deposit Scheme has issued a reminder that from April 6, membership of a tenancy deposit protection scheme will be mandatory for all landlords and their agents where tenancies are assured shortholds.

  • This Week's Dilemma

    12 Feb 2007

    I want to ask my boss for a pay rise. I feel I have earned one but I don't know how to approach him. I have worked at the company for almost four years and have a good working relationship with my boss. He has always treated me well so I do not want to cause any bad feeling by seeming ungrateful. Should I tell him I will have to look for a job elsewhere if I am not better rewarded.

  • TMP offers free valuations on Rooftop range

    14 Feb 2007

    The Mortgage Partnership is offering free valuations across the entire Rooftop Mortgages product range.

  • Together forever

    12 Feb 2007

    Good business development managers are worth their weight in gold to lenders and brokers, providing a vital link between the two and helping the latter build successful businesses, says Harvey Jones

  • Trigold revamps credit information proposition

    13 Feb 2007

    Trigold has removed the need to re-key client data through its link with Equifax.

  • Two underwriters join titlesolv.com

    12 Feb 2007

    London &European has added two inhouse underwriting managers to its online legal indemnities business titlesolv.com -Harsit Nakarja and Mark Swallow.

  • Unity underwriter heads to Cuba for charity

    12 Feb 2007

    A mortgage underwriter at Unity Homeloans will be undertaking a gruelling four-day, trek around the island of Cuba in March to raise money for her chosen charity, Breakthrough Breast Cancer.

  • Vertex enters strategic partnership with Rooftop

    14 Feb 2007

    Vertex Financial Services has signed a new outsourcing contract with specialist lender, Rooftop Mortgages.

  • Warning signs

    12 Feb 2007

    The sub-prime sector in the UK has many parallels with that in the US and it should keep a wary eye on challenges developing there, says Andrew South

  • We have a fast-track training scheme for new recruits

    12 Feb 2007

    From David Mead

  • We must grow equity release ethically

    12 Feb 2007

    Many commentators - me included - have remarked that the equity release market is the largest untapped market in the mortgage sector. Increasingly, people will need to use their homes equity to provide income during retirement as pensions continue to underperform.

  • We must stop living in a fool's paradise when it comes to PPI

    12 Feb 2007

    From Michael Till

  • We should give HIPs a fighting chance

    12 Feb 2007

    Some people's desire to kill off Home Information Packs before they are launched on June 1 continues unabated. A recent report in Mortgage Strategy (January 22) confirmed that a 2,500-strong petition had been sent to the Prime Minister asking for HIPs to be dropped.

  • Website offers match-making for homebuyers

    14 Feb 2007

    SmartSharedHomes.com has launched a website aimed at match-making homebuyers looking to share their property.

  • West Brom enters top ten B2L lenders

    14 Feb 2007

    The West Brom has become one of the top 10 largest buy-to-let lenders in the UK, data released by the Council of Mortgages Lenders has revealed.

  • What level of knowledge do lenders' staff have to have?

    12 Feb 2007

    From Nigel Pamment

  • Woolwich launches City Mortgage 3

    14 Feb 2007

    Woolwich launches 'City Mortgage 3' to cater for big spenders benefiting from the record City bonuses expected before March 07.

  • Woolwich launches track and cap mortgage

    12 Feb 2007

    Woolwich is launching a lifetime tracker base plus 0.23% with the optional protection of a cap at 5.99% for the first two years of the mortgage.

  • Worry over free cover offers

    12 Feb 2007

    CETA is urging brokers to be cautious when selling in-surance policies with free cover offer periods as it could expose them to mis-selling complaints.

  • Would you trust a supermarket to give you financial advice?

    12 Feb 2007

    Last week, Tesco revealed it is offering a free mortgage advice service via on 0800 number through London & Country. The six-month pilot scheme is in addition to the mortgage range it offers directly though First Active. But are people happy to talk about mortgages where they buy their fruit and veg. So this week Mortgage Strategy asks: Would you trust a supermarket to give you financial advice?

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