Mortgage Strategy
12 March 2007

  • Beacon gets into Right to Buy

    12 Mar 2007

    Beacon Homeloans has launched into the Right to Buy sector with a range that allows applicants to borrow up to 90% of the value of their houses, or 80% for flats, with a maximum of £1,000 County Court judgements per applicant.

  • Gadhia returns to Virgin Money

    12 Mar 2007

    Jayne-Anne Gadhia has returned to Virgin to take up the position of chief executive of Virgin Money. Gadhia was formerly managing director of consumer finance at the Royal Bank of Scotland but resigned in December 2006 after 12 years with the group. Her previous career spanned Virgin One, Virgin Direct and Norwich Union.

  • Hipstar to use VisualHIP

    12 Mar 2007

    Hipstar will deliver several thousand Home Information Packs per month using the VisualHip platform from LexisNexis' Visualfiles.The two companies have been working together for the past eight months to tailor a solution that integrates with Hipstar's web-based ordering system.

  • Lib Dems plan to target the rich

    12 Mar 2007

    The Liberal Democrats have unveiled proposals to tax extreme wealth. Shadow chancellor Vince Cable says: "I am determined that the Lib Dems will have a strong message of support - through tax cuts - for people of modest means who are being dragged into Inheritance Tax and higher rate Stamp Duty and ensure that these tax cuts are paid for by the very wealthy."

  • MI unveils Abbey semi-exclusive

    12 Mar 2007

    Mortgage Intelligence has launched a semi-exclusive Abbey product which has a fixed rate of 5.19% for two years.The deal is for loans up to £500,000 for purchase and remortgage and has

  • Money Partners' online promotion

    12 Mar 2007

    Money Partners Touch has launched an online promotion to encourage brokers to register on its website. Until April 11, any broker registering interest on the website could win a DVD recorder, a satellite TV package or a satellite navigation system.

  • Mortgage assets rise at Yorkshire

    12 Mar 2007

    Yorkshire saw mortgage asset growth of 10.4% to £13.3bn in 2006. Gross lending was up 26% to £4bn and net lending was up 52% to £1.3bn. Iain Cornish, chief executive of Yorkshire, says: "2007 will be a year of economic uncertainty but we believe the UK economy is resilient."

  • Quickbridge offers Porsche prize

    12 Mar 2007

    Quickbridge is offering introducers the chance to win a Porsche 911 Turbo driving experience. Brokers who submit bridging cases by April 2 will be entered to a draw and the successful broker will win the opportunity to drive the car over the Easter weekend. The draw will be made by Mortgage Strategy deputy editor Robert Thickett on April 2.

  • Rates slashed on Partners range

    12 Mar 2007

    GMAC-RFC has slashed the rates on its Partners fixed rate products following a review. The range now offers a buy-to-let product with a rate starting from 5.39% for a two-year fixed deal.

  • Spring housing boom predicted

    12 Mar 2007

    Haart is predicting a spring boom as sellers rush to get their properties onto the market before the introduction of Home Information Packs on June 1.

  • TMB offers free valuations

    12 Mar 2007

    The Mortgage Business is offering free valuations through Pinnacle Mortgage on its whole purchase range up to £500,000. Nigel Payne, managing director of TMB, says: "Free valuations complement the value and structure of our products."

  • 5D in service link with Crown

    12 Mar 2007

    5D Finance has appointed Crown Mortgage Management as its servicing partner. 5D will continue to process applications inhouse through to completion and Crown will administer completed loans.

  • 88% of brokers worry about claims in IVA ads

    12 Mar 2007

    A whopping 88% of Mortgage Strategy Online readers are concerned about the advertising claims of individual voluntary arrangement firms following news that the Advertising Standards Authority is investigating at least four for making false claims.

  • A retail review to be reckoned with

    12 Mar 2007

    Brokers can't afford to ignore the FSA's review of retail distribution in the financial services industry since it will affect the way they do business, says Bill Warren

  • Accord cuts rates across prime range

    15 Mar 2007

    Accord has slashed rates across its five best-selling prime products. It now has a three-year fixed at 5.14% with a 1.5% fee and a three-year fixed at 5.49% with a 795 fee, which is also available to existing borrowers.

  • Accountancy firm calls for IHT rethink

    12 Mar 2007

    A member of the world's fifth-largest accountancy network has called on chancellor Gordon Brown to raise the Inheritance Tax threshold in his final Budget on March 21.

  • Affordability calculators lower arrears, says GMAC-RFC

    16 Mar 2007

    Affordability calculators are helping to protect consumers from falling behind in their mortgage payments, according to GMAC-RFC.

  • AHIPP to host spring conferences

    12 Mar 2007

    The Association of Home Information Pack Providers is to host two spring conferences in Manchester and London this April, to help estate agents and other industry figures prepare for the introduction of HIPs on June 1. The conferences will be held at the City of Manchester Stadium on April 16 and the Emirates Stadium in London on April 18.

  • AIPs are not included in targets so staff aren't interested in processing them

    12 Mar 2007

    In answer to the question in Peter Gunton's letter (Mortgage Strategy, March 5) about how it can take so long to get a decision on a simple agreement in principle, as an ex-employee of a large society, I can offer an explanation.

  • Alexander Hall adopts Trigold

    12 Mar 2007

    Alexander Hall has ditched Mortgage Brain for Trigold after five years of using the sourcing system.

  • Auto compliance

    12 Mar 2007

    Information technology can take the pain out of the compliance process for brokers while helping to boost their sales, says Steve Jones

  • AXA makes senior appointments

    13 Mar 2007

    AXA has made a number of key senior appointments with its protection business following structural changes announced last November.

  • Bank of England freezes base rate

    12 Mar 2007

    The Bank of England froze interest rates last week at 5.25%. Industry experts are split on whether another rate rise is needed to bring inflation under control with many predicting stable a base rate throughout 2007.

  • BDM of the week

    12 Mar 2007

    Cheval's Gareth Lewis has impressed with his reliability, empathy and ability to come up with strong business development ideas, says John Coffield

  • Beacon relaxes near prime criteria

    12 Mar 2007

    Beacon Homeloans has adjusted the criteria of its buy-to-let near prime product range.Previously, borrowers with County Court judgements over £300 were not eligible for the near-prime buy-to-let product but this has been amended and applicants with CCJs up to £1,000 can now qualify.

  • Bob Ollason appointed vice chairman of CML Scotland

    13 Mar 2007

    Bob Ollason, regional sales manager for Kensington Mortgages, has been appointed as vice chairman of the Council Mortgage Lenders Scotland.

  • Borrowers demand to be kept in the loop

    13 Mar 2007

    Mortgage customers would like to be kept better informed about how their applications are progressing, research from mform.co.uk reveals.

  • Bridging arrangement

    12 Mar 2007

    Affirmative has linked up with mortgageforce to support its growth in the bridging loans market.Mortgageforce has a referral arrangement with Affirmative so bridging loans will be available to the whole of its franchise network.

  • Brokers sceptical over carbon target

    12 Mar 2007

    A survey by UCB Homeloans shows 67% of brokers believe the government will not achieve its target of making all new homes carbon-neutral within 10 years.

  • Brokers will need HIPs to boost income

    12 Mar 2007

    I've been on my travels again over the past few days and the message I'm getting loud and clear from brokers is that it's not worth doing anything in readiness for Home Information Packs because the government could still do a last-minute U-turn and scrap the whole idea.

  • Buyers report unusual encounters in house searches

    12 Mar 2007

    Research by Smile Mortgages has revealed 23.5% of people havereported an unusual encounter in their search for the perfect home.

  • Buy-to-let investors look to future

    12 Mar 2007

    One in four buy-to-let investors plan to keep their properties for more than 15 years, says Mortgage Trust

  • C&G for Intermediaries launches first sub-prime range

    13 Mar 2007

    Cheltenham & Gloucester will storm the specialist lending market tomorrow with its first sub-prime mortgage range.

  • CAB warns on bailiffs' power

    12 Mar 2007

    Citizens Advice has warned that upcoming legislation will give bailiffs the power to forcibly enter domestic premises to recover debts. It is pressing for bailiffs to be regulated and safeguards to ensure entry is only used as a last resort.

  • Chesterton reports strong growth in rental sector

    12 Mar 2007

    Chesterton Lettings has reported continued growth in London rental values throughout 2006.

  • Close unveils B2L deal priced below base rate

    12 Mar 2007

    Close Mortgages has launched a buy-to-let discount tracker priced below the Bank of England base rate.

  • CML rebuts MPs' criticism

    12 Mar 2007

    The Council of Mortgage Lenders has defended lenders that charge high arrangement fees on low rate products following criticism from MPs.

  • CML slammed for lack of action on exit fees

    12 Mar 2007

    The Council of Mortgage Lenders has been blasted for "keeping its head down" over exit fees.

  • Competition hots up in the high LTV sector

    12 Mar 2007

    Mortgages of up to 125% of a property's purchase price are getting a lot of coverage in the national and trade media at the moment.

  • Complete appoints BDM

    13 Mar 2007

    Complete Mortgage and Loan Services has appointed Mark Game as business development manager for central London.

  • Complete unveils round table dates

    12 Mar 2007

    Complete Mortgages has released the dates for the first of its broker/lender round table events for 2007.

  • Compliance appointment

    12 Mar 2007

    Centrepoint has appointed compliance specialist Bill Warren as a non-executive director. Warren is also compliance director at Complete Mortgage and Loan Services

  • Concordia to market Close's buy-to-let range

    12 Mar 2007

    Concordia is to market Close Mortgages buy-to-let range.

  • Countrywide cuts dead weight

    13 Mar 2007

    Countrywide has chosen to end its remortgage conveyancing operation and its Spanish overseas estate agency, H2O homes.

  • Countrywide says yes to Apollo bid

    12 Mar 2007

    The Countrywide buyout saga continued last week after the estate agency accepted a takeover offer from Apollo Management, while a counter-offer was rumoured to be on the cards.

  • Coventry launches capped rate option

    12 Mar 2007

    Coventry is adding a capped rate product to its MOREgage range, making it the only capped rate in the 100%-plus lending market.

  • Cover frees us from the bean counters

    12 Mar 2007

    We constantly hear about new wonder drugs. While always welcome, it's prudent to be sceptical about the impact of the treatments unleashed on the market. One innovation we've been keeping an eye on in recent years is statins.

  • Crackdown on crime

    12 Mar 2007

    The regulator is focussing on mortgage fraud and will come down hard on bad apples amd firms that do not have the appropriate checks and balances in place, says Stephanie Spicer

  • CurriculumVitae

    12 Mar 2007

    "Making money is a hobby of mine - spending it is my wife's."

  • DCLG has already spent more than 11m on HIPs

    14 Mar 2007

    The government has already spent more than 11m on preparation for the introduction of Home Information Packs on June 1.

  • DCLG publishes January house price index

    12 Mar 2007

    The mix-adjusted average house price in the UK in January 2007 stood at £205,286, up from £201,090 in December 2006, government figures reveal.

  • Dear Delia

    12 Mar 2007

    Dear Delia, Wayne has inherited 50,000 and wants to buy a holiday home. He will rent the property out and occasionally use it for family holidays. He has seen a property in Cornwall for 250,000. He is earning sufficient income to support his mortgage and commitments and support the new loan but he can't find a lender who will lend up to 80% LTV for a holiday home he may use himself. What are his options?

  • Demand for traded endowments rises

    12 Mar 2007

    The number of traded endowment policies purchased in 2006 more than doubled compared with the previous year, says the Association of Policy Market Makers. Brian Goldstein, chairman of APMM, says: "Last year, market-makers saw record levels of demand for TEPs. It looks like 2007 will be even more successful."

  • Demand outstrips supply, says Hamptons

    13 Mar 2007

    Latest analysis from Hamptons International, has found that there is an average of eight buyers for every seller. Hamptons says this imbalance in supply and demand is showing no sign of abating as the spring market moves closer, with many sellers holding back from putting their property on the market until a suitable property becomes available. Figures from the London property market have recorded a 38% increase in registered buyer numbers in 2007 when compared to last ...

  • Derbyshire reports mortgage lending of 2bn

    15 Mar 2007

    Derbyshires annual results show its gross mortgage lending hit 1,860m in 2006.

  • Do you think Stamp Duty is becoming a barrier to home ownership?

    12 Mar 2007

    Last week, Halifx revealed there has been a 281% increase in the number of home sales that attract 3% Stamp Duty over the past five years. With 279,408 homes priced above the 250,000 threshold it means 19% of home buyers were hit with Stamp Duty Bills of at least 7,500.So, this week Mortgage Strategy asks Do you think Stamp Duty is becoming a barrier to home ownership?

  • E2M links up with Mortgage 2000

    12 Mar 2007

    Easier2Move has joined Mortgage 2000s conveyancing panel. Mortgage 2000, part of moneysupermarket.com, offers a range of products and services to mortgage intermediaries.

  • Edeus launches 90% B2L deal

    12 Mar 2007

    Edeus has launched a buy-to-let product available up to 90% LTV at 100% rental coverage based on pay rate which is 0.74% above base rate for two years. There is an 1.5% arrangement fee and early repayment charges are 5% in years one and two.

  • Edeus launches remortgage deals

    12 Mar 2007

    Edeus has released 24 remortgage-only sub-prime and sub-prime self-cert products. The propositions come with free remortgage service, free property assessment, £200 cashback and rates from a 6.44% on a near prime three-year tracker.

  • Emin legal advice link-up

    12 Mar 2007

    Goldsmith Williams and emhave launched a broker nomination scheme for remortgage and conveyancing services. The scheme enables emto offer brokers legal advice for purchase, sale, buy-to-let and remortgage cases.

  • Equity release gets the Trevor McDonald treatment

    16 Mar 2007

    The equity release market is to come under intense scrutiny next Monday, when ITV's Tonight with Trevor McDonald takes a look at the sector before it comes under Financial Services Authority regulation in April.

  • Everyday problems of country folk

    12 Mar 2007

    I recently found myself watching a TV programme about the bishop of Truro. The last time I watched a religious programme was many years ago when Songs of Praise came from my home town so I wasn't expecting to stay tuned for long. But the programme provided an excellent contrast to a report published earlier that day by the Campaign to Protect Rural England.

  • Exit fees debacle could have long-term effects

    12 Mar 2007

    So, the cat is out of the bag. The deadline has come and gone and the exit fee debacle is over. Well, not really.

  • Expo may break record despite lender boycott

    12 Mar 2007

    The Mortgage Business Expo says more than 122 companies have already signed up to exhibit in London despite three major lenders shunning the event.

  • February house prices up £50 a day

    15 Mar 2007

    House prices rose by over £50 a day in February, an average of the main house price indexes, compiled by Assetz reveals.

  • Finance & Mortgage Solutions adopts Trigold

    13 Mar 2007

    Finance & Mortgage Solutions has announced it is now fully integrated with Trigold’s E-Trading Centre.

  • First-timers opt for fixed rates, says CML

    13 Mar 2007

    The prospect of higher interest rates has led a record number of first-time buyers opting for a fixed rate loan, data from the Council of Mortgage Lenders reveals.

  • FSA cost savings are nowhere near enough

    12 Mar 2007

    So the Financial Services Authority has vowed to save firms 1m by merging customer functions in its approved persons reg-ime into a new single category.

  • FSA could probe lending decisions

    12 Mar 2007

    The Financial Services Authority is believed to have purchased technology to analyse lending decisions and demand explanations where cases appear unusual.

  • FSA fails small firms on TCF, says report

    12 Mar 2007

    The Financial Services Authority has been blamed for a "massive communications gap" when it comes to guiding small firms on its Treating Customers Fairly initiative.

  • FSA has a cheek accusing advisers of being unclear

    12 Mar 2007

    Having to drive my wife's car to work the other day, rather than get grief for messing with the stereo I left it on the local radio station she listens to.

  • FTBs take a broader view

    12 Mar 2007

    A quarter of aspiring property owners would consider moving as far away as Australia to save money to buy their first home in Britain.

  • GE Life to reveal new name

    12 Mar 2007

    GE Life is to reveal its new name on Wednesday April 11 following its sale to Swiss Re last October.

  • GI brokers must protect consumers money, warns FSA

    13 Mar 2007

    The Financial Services Authority has warned general insurance intermediaries that they have no excuse for failing to protect client money in their possession.

  • GMAC-RFC climbs best employer table

    12 Mar 2007

    GMAC-RFC is up to number 32 in the Sunday Times' latest 'Best 100 companies to work for' table.

  • GMAC-RFC cuts product rates

    12 Mar 2007

    GMAC-RFC has today slashed rates by between 10 and 31 basis points on its prime and self-cert products. Buy-to-let product rates have been cut by between 20 and 35 basis points.

  • GMAC-RFC slashes rates

    12 Mar 2007

    GMAC-RFC has slashed the rates across its fixed rate product range.

  • Goldsmith Williams teams up with Cotswold

    14 Mar 2007

    Goldsmith Williams has been appointed to provide legal services for Cotswold Mortgage Services network of appointed representatives.

  • Government sends estate agents definitive HIP date

    16 Mar 2007

    The Department of Communities and Local Government has sent a leaflet to all estate agents in England and Wales that prominently states that Home Information Packs will become law on June 1 2007.

  • Guy Batchelor Lehman's new executive director of sales

    14 Mar 2007

    Lehman Brothers European Mortgage Capital Division has appointed Guy Batchelor to the role of executive director of sales and marketing for the UK.

  • Halifax launches its HomeBuy deal

    12 Mar 2007

    Halifax for Intermediaries has launched its Open Market HomeBuy proposition, despite take-up with other lenders being low.

  • Halifax says 29% of detached property owners will pay IHT

    16 Mar 2007

    Halifax research has shown that nearly one third of detached property owners in the UK could be liable to pay Inheritance Tax.

  • Handle interest-only deals with great care

    12 Mar 2007

    I wrote recently about the slowdown in the US sub-prime market. In the past few weeks the situation has worsened considerably.

  • Help networks to help smaller firms

    12 Mar 2007

    Small firms aren't ready for the Treating Customers Fairly initiative so the FSA must either give them a helping hand or support networks in doing so, says Justine Tomlinson

  • Helping clients through the fees maze

    12 Mar 2007

    Last month, the exit fees issue came to a head. On February 28, the Financial Services Authority forced lenders to own up to charging too much - as most if not all had been doing - and reduce their fees. It's thought that this has opened the door for millions of mortgage customers to reclaim fees of between 100 and 200.

  • HIPs are redundant before they start

    12 Mar 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

  • Hipstar may take 10% of the HIPs market

    12 Mar 2007

    Richard Griffiths, chief executive of Network Data Holdings, says subsidiary Hipstar will take at least 10% market share when Home Information Packs become compulsory later this year.

  • Hobson's choice on broker exams

    12 Mar 2007

    To advise on reversion schemes we have to have qualifications, so we are at the mercy of the examining organisations when it comes to the fees they demand, says Sue Read

  • HoC selects MortgageStream

    12 Mar 2007

    Home of Choice has chosen MortgageStream as its case management system, removing the need for brokers to re-key data into different systems. Richard Coulson, chief executive of HoC, says: "The clarity and flexibility of this system is what we have been searching for."

  • HSBC considers unloading loans

    12 Mar 2007

    HSBC Holdings is contemplating unloading some of it's A to D loans that total billions of pounds, investment banking sources revealed last week. The bank also plans to stop providing warehouse financing on sub-prime mortgages, sources say.

  • I must have provoked C&G's wrath by asking for updates

    12 Mar 2007

    In light of the FSA's Treating Customers Fairly initiative, might I also suggest a Treating Brokers Fairly rule? If there was such an initiative, Cheltenham & Gloucester would be at the top of my list for investigation.

  • Igroup joins Pink packager panel

    12 Mar 2007

    Pink Home Loans has added GE Money Home Lending's igroup brand to its packaged lender panel.

  • I'm no sub-prime conspiracy theorist but...

    12 Mar 2007

    Ah, spring in America. The cherry blossom is starting to show its buds and the last piles of snow are beginning to melt - along with a considerable chunk of the residential sub-prime industry.

  • Instant decision tool launched

    12 Mar 2007

    Money Partners Touch has launched an instant decisioning tool for brokers called eDecision. This will allow its brokers to obtain instant decisions online. For a limited period, brokers using eDecision can benefit from free real-time valuations and credit searches.

  • Instant ID checks from Easier2Move

    12 Mar 2007

    Easier2move has linked up with 192.com to allow its solicitors to perform instant identity checks. Karen Babington, sales and marketing director at Easier2Move, says: "We hope to ensure efficient and speedy service."

  • InterBay launches seminars in Northern Ireland

    14 Mar 2007

    InterBay has launched seminars in Northern Ireland, to educate brokers about commercial mortgages.

  • It's time to speed up your service

    12 Mar 2007

    Sealed bids and gazumping are making a comeback so being paid on completion is risky for brokers. The solution is for them to do things more quickly, says Mark Harris

  • IVA firm's shares tumble

    12 Mar 2007

    Debt Free Direct's shares took a sharp downturn last week after it admitted profits for 2007 would be down due to deteriorating advertising performance.

  • KRS names head of partnerships

    12 Mar 2007

    Key Retirement Solutions and its support service Lifetime Advisory Services has appointed Elizabeth Wilkinson as head of partnerships.

  • L&G adds illnesses to critical illness cover

    12 Mar 2007

    Legal & General is launching a new critical illness product covering three additional illnesses.

  • Labour has spent £6m on HIP consultants

    12 Mar 2007

    The government has been branded a "meddling force" after it admitted spending £6m on consultants in the run-up to the June 1 implementation of Home Information Packs.

  • Labour KOs eco-funding plan

    12 Mar 2007

    The government has allegedly dropped plans to part-fund environmental mortgages as part of its bid to encourage more lenders to go green.

  • Landlords face fines for exploiting immigrants

    12 Mar 2007

    Landlords who exploit illegal immigrants in overcrowded flats could be fined as much as £20,000 by the Home Office.

  • Leeds acquires a dangerous habit

    12 Mar 2007

    I know, I'm on my soapbox again but I can't resist it. Leeds has caught the Abbey habit. It is offering a 5 x income mortgage product at 6.25% available to 95% LTV without fees.

  • Leeds unveils fee-free fixed rate

    12 Mar 2007

    Leeds has launched a fee-free five-year fixed rate product at 5.99%. The product is available up to 90% LTV, has no higher lending charge or completion fees and allows 10% capital repayments each year.

  • Lenders can give excellent service if brokers help them

    12 Mar 2007

    I completed paper mortgage application forms for a Woolwich remortgage for a couple of clients on February 10.

  • Lenders discover that it's still good to talk

    12 Mar 2007

    Most borrowers would probably say their top priority when it comes to mortgage products is the cheapest rate.

  • Lenders have not got the message about exit fees

    12 Mar 2007

    It's obvious that lenders have not yet got the message about exit fees and how they relate to consumer contract regulations.

  • Lenders must scrap paper and move online

    12 Mar 2007

    From March 1, Bank of Scotland became the latest lender to stop accepting paper-based applications.

  • Let's pay brokers more than lip service

    12 Mar 2007

    Do lenders value brokers' business? How hard do they work to secure it? Do they care about brokers and their clients?

  • Life goes on

    12 Mar 2007

    Bradford & Bingley's lending director Chris Gillespie has taken over the running of Mortgage Express. Unworried by the departure of the latter's founder Tim Dawson, he tells Christine Toner that change was inevitable but what matters now is growth

  • Loans move towards the mainstream

    12 Mar 2007

    It is said that you can tell when an activity has become popular, whether it is in sport or business, because someone feels the need to form a committee and give that activity a structure and rule book.

  • London is still tops for investors

    12 Mar 2007

    London is still the best market for property investors, says Experian. Eight of the top 10 UK markets are in London, mostly in the office sector. Investment in London offices has reached record levels in each of the past three years.

  • Make yourself into a media pundit

    12 Mar 2007

    In the modern environment public relations and marketing are vital so if you can't beat 'em, join 'em - become a media pundit and stand out from the crowd, says Sally Laker

  • Many people plan to buy new homes

    12 Mar 2007

    Some three million people - nearly 7% of the adult UK population - are planning to buy new homes in the next six months, a survey by mform.co.uk reveals.

  • Marketwatch

    12 Mar 2007

    Swaps continued to fall last week. They have been declining for the best part of a month. It will be interesting to see what impact last week's decision to hold base rates has. Hopefully swaps will continue to fall and this will result in some lower fixed rates soon.

  • Me & My Car

    12 Mar 2007

    In stark contrast to my previous commuting vehicle - a London Underground train - my Audi A4 is comfortable, sleek and performs well, says Mark Maguire

  • Money Partners Touch appoints BDM

    13 Mar 2007

    Money Partners Touch, the direct-to-broker channel of Money Partners, has promoted James Hope to the role of business development manager for London and the Home Counties.

  • Moneynet.co.uk warns consumers about fee hike

    12 Mar 2007

    The Financial Services Authority's recent warning that lenders must reform their settlement fee structures could lead to a big hike in arrangement fees, says Moneynet.co.uk.

  • Mortgage Brain to hold packager forum on March 23

    13 Mar 2007

    Mortgage Brain and the Mortgage Trading Exchange, in association with Mortgage Strategy, are to hold a packager forum in London on March 23.

  • Mortgage Times in conveyancing boost

    12 Mar 2007

    The Mortgage Times Group has linked up with xit2's conveyancing portal in a bid to improve the service it offers intermediaries.

  • Mortgageforce makes dreams come true

    12 Mar 2007

    MortgageForce has made 44 wannabe brokers' dreams come true with its broker training academy scheme.

  • Mortgages PLC launches cashback deal

    14 Mar 2007

    Mortgages PLC has launched an exclusive cashback deal for packagers.

  • MT celebrates all facets of its business

    12 Mar 2007

    The Mortgage Times Group last week held its second annual awards ceremony at plush London hotel Claridge's.

  • Multi-lender cascading system launched

    12 Mar 2007

    Lendersonline, the first multi-lender cascade system to intergrate Equifax credit search, has been released by the Loan and Mortgage Processing Centre.

  • NAEA asks the government to listen

    16 Mar 2007

    The National Association of Estate Agents has asked the Department of Communities and Local Government to listen to its Home Information Pack and environmental concerns, rather than dismiss it as a dissenter.

  • National financial advice service could stabilise industry

    14 Mar 2007

    The financial services industry will benefit from government plans for a national financial advice service, research from the Resolution Foundation reveals.

  • Nationwide rewards existing customers

    14 Mar 2007

    Nationwide is launching a book of offers containing ten money saving deals including reward payments, cashbacks, discounts and shopping vouchers.

  • Network Data to launch Homeowners Mortgages

    12 Mar 2007

    Network Data Holdings has revealed that it plans to launch its wholly owned lending subsidiary Homeowners Mortgages in the latter half of 2007.

  • New homes market booming, says Linden

    13 Mar 2007

    The new homes market is exceptionally strong heading into the spring months, reports Linden Homes.

  • New lender entrants slated

    12 Mar 2007

    GMAC-RFC has blasted new lender entrants for promising too much and not delivering.

  • North-East tipped as next property hotspot

    12 Mar 2007

    The North-East has been tipped as a potential property hotspot by SG Hambros.

  • Openwork reveals network growth

    13 Mar 2007

    Openwork has grown its network base to 2,500 advisers.

  • paaleads teams up with TMA

    13 Mar 2007

    Paaleads.com has agreed a deal to provide mortgage leads to The Mortgage Alliance.

  • Packager Power

    12 Mar 2007

    Bill Dudgeon, managing director of DB Mortgages, asks packagers working on the frontline what they think of cascade underwriting.

  • Packagers must do their own thing

    12 Mar 2007

    There was a lot of speculation that 2006 would see the demise of packagers. Most people in the industry would have to agree that this proved to be far from the case.

  • Painful lessons for postcode parents

    12 Mar 2007

    With competition for school places becoming ever more intense, it's no wonder that many parents mortgage themselves to the hilt to buy homes in good catchment areas.

  • Payment holidays on the rise, says MoneyExpert.com

    14 Mar 2007

    Lenders have increased the number of mortgage deals that include a payment holiday facility to allow struggling customers to relieve the financial burden of repayments, analysis by MoneyExpert.com reveals.

  • PDS launches back office system

    13 Mar 2007

    Promise Debt Solutions has launched a back office system.

  • Pearson leaves HBOS

    16 Mar 2007

    Chris Pearson, sales and marketing director at BM Solutions, has resigned from his position at HBOS.A spokeswoman from BM Solutions says: Chris has been with HBOS for over nine years, so of course we wish him all the best in any future endeavours.HBOS could not comment on Pearsons reasons for leaving or where he may be moving.

  • PNP chooses MortgageStream

    12 Mar 2007

    Premier Network Partnership has opted to use MortgageStream’s case management system.

  • Preferred relaunches shared ownership range

    12 Mar 2007

    Preferred has relaunched its shared ownership product range.

  • Pritchard quits Freehold

    13 Mar 2007

    Terry Pritchard has quit his position at Freehold - but denies this is a result of pressure from lenders.

  • Profits underpin UK banks' growth

    12 Mar 2007

    Profit growth in wealth management, investment banking and international markets have been key factors in the growth of UK banks, KPMG's UK financial institutions performance survey reveals.

  • PTFS unveils 110% buy-to-let deal

    12 Mar 2007

    Personal Touch Financial Services has teamed up with BM Solutions to launch an exclusive buy-to-let deal with 110% rental calculation.

  • Purely launches online video mortgage service via ITV

    15 Mar 2007

    Purely Mortgages has revealed it will be providing mortgages through ITV Local, the ITVs regional broadband TV service.

  • RAMP welcomes edeus into the fold

    12 Mar 2007

    The Regulatory Alliance of Mortgage Packagers has added edeus to its panel of lenders.

  • Regulation will give all-rounders an edge

    12 Mar 2007

    There is now less than a month to go before home reversion regulation comes into force. Many companies are in the final throes of their preparations for the big change.

  • Reshuffle at Heritable Bank

    12 Mar 2007

    Heritable Bank has reshuffled its senior management team. Finance director Ketan Malde has also taken on the role of chief operating officer, Tim Wentworth is now managing director of Heritable Capital Partners and Nick Barrett becomes managing director of Heritable's structured property finance division.

  • Retirement Plus ads to run in Co-op shops

    12 Mar 2007

    Retirement Plus is using Co-operative stores as an advertising vehicle for equity release in a bid to raise the product's profile among consumers.

  • Scarborough buys CI business

    12 Mar 2007

    Scarborough has bought Portman's Guernsey-based offshore deposit-taking business Portman Channel Islands. PCI has a deposit book of around £600m and about 8,000 customers. PCI will be rebranded and trade as Scarborough Channel Islands.

  • School plan could hit prices

    12 Mar 2007

    Plans to revise the way school places are allocated have led to fears of house price slumps in catchment areas.

  • Scottish Widows reports 23% mortgage growth

    12 Mar 2007

    Scottish Widows Bank, the telephone-based mortgage and deposits bank, has reported net mortgage lending growth for 2006 was 1.03bn up 23% from 2005.

  • Shoparound Mortgages picks xit2

    13 Mar 2007

    Shoparound Mortgages has chosen xit2s valuation exchange to manage its valuation instructions.

  • Sign up to the TCF Lender Forum now

    12 Mar 2007

    The FSA says lenders should work with brokers when it comes to treating customers fairly and the TCF Lender Forum could help them to do so, says Frank Eve

  • Sloppy service turns clients' dreams into nightmares

    12 Mar 2007

    I wish lenders would think about their customers, staff and brokers when they have market-leading rates sitting at the top of sourcing systems.

  • Small offenders seem to fly under the regulator's radar

    12 Mar 2007

    When is a mortgage adviser's advert of no interest to the Financial Services Authority? When the ad is placed by a one-man band in a local newspaper.

  • SmartNewHomes.com reveals townhouse boom

    16 Mar 2007

    SmartNewHomes.com says townhouses have experienced the biggest growth across new build, making up 10.8% of the new homes mix in the UK. The website says while this property type has previously been found predominately in London and the South-East, the townhouses popularity is spreading with an increasing number of these three storey, city living homes now becoming widespread in key cities across the country. David Bexon, managing director at SmartNewHomes.com, says: The ...

  • Split over education on cover deals

    12 Mar 2007

    Brokers are split over whether protection providers should give them more education about their products, says Alliance & Leicester.

  • SPML appoints Essex BDM

    12 Mar 2007

    Southern Pacific Mortgage Limited has appointed Lisa Partington as business development manager for Essex and east and north London. She joins SPML from Beacon Homeloans where she was a BDM for two years.

  • TCF website offers brokers help with MPPI

    13 Mar 2007

    A website designed to support intermediaries in treating customers fairly has published mortgage payment protection insurance guides and checklists which brokers can download and use in their business.

  • Terraced houses rise in price

    12 Mar 2007

    Terraced houses have seen the greatest increases in price over the past 10 years, research by Halifax Estate Agents reveals. Over the past decade, the average terraced house price has risen by 239%. Semi-detached house prices rose 95% while flats and maisonettes have increased in value by 87%.

  • The Mortgage Mole

    12 Mar 2007

    Unravelled

  • This Week's Dilemma

    12 Mar 2007

    I have just landed my first broker position but I have only just qualified and am therefore lacking in experience and understanding of what is expected of me. I have joined a small practice and feel I would benefit from support from someone senior who can explain how the firm works and a little about its culture so I can learn how to fit in. How do I go about getting this without becoming a burden to my colleaugues.

  • Title Deed - KGB

    13 Mar 2007

    KGB was set up in 2002 when mortgage lending at Doxford Business Park in Sunderland reached an all-time high. A lot of financial firms moved there, leaving employees who didn't want to or couldn't relocate, high and dry in other parts of the country, says Rachel Bancroft, managing director of KGB.

  • Tories reveal patio tax plan

    12 Mar 2007

    The Conservative Party has exposed evidence that the government plans to tax people on the appearance of their homes. A Freedom of Information Act request has uncovered an 80-page government manual illustrating every type of home and instructing taxmen to grade homes for tax purposes. The Tories warn that people could be taxed more for having patios or driveways.

  • Tories slammed for HIP ploy

    12 Mar 2007

    LMS has accused the Conservative Party of fuelling the anti-Home Information Pack movement by questioning the cost of local authority searches.

  • Trigold agrees to list hybrid rates

    12 Mar 2007

    Trigold has yielded to pressure from lenders to include capped tracker products on its sourcing system.

  • Trustguard self-cert deal has no overhang

    12 Mar 2007

    Trustguard has launched a fixed rate self-cert product with no overhang from The Mortgage Business.

  • Two big networks plan to double in size this year

    12 Mar 2007

    Two of the industry's biggest networks are gearing up for recruitment drives, fuelling talk of consolidation in the sector.

  • Two big networks plan to double in size this year

    12 Mar 2007

    Two of the industry's biggest networks are gearing up for recruitment drives, fuelling talk of consolidation in the sector.

  • UK customers shop around

    12 Mar 2007

    Customers in the UK are the most likely to shop around for financial bargains in the EU, says Datamonitor. UK branch managers at banks and societies say customers shop around for financial services more than they used to.

  • Unity launches new residential range

    15 Mar 2007

    Unity Homeloans has launched a new residential range.

  • We don't want US sub-prime disease

    12 Mar 2007

    Brokers, lenders and especially overstretched borrowers gave a collective sigh of relief last Thursday when the Bank of England's Monetary Policy Committee decided to hold rates for a second month.

  • Website to boost Sharia mortgages

    12 Mar 2007

    A website has been launched to advertise Shariacompliant mortgages and financial products from UK lenders. IslamicMortgages. co.uk is intended to help the UK's Muslim population get onto the property ladder.

  • When a gift is not as good as it looks

    12 Mar 2007

    When builders offer gifted deposits they are offering to pay the deposits on properties people are buying from them. Builders tend to do this on new developments, with deposits ranging from 5% to 15%. Other incentives can be offered such as cashbacks, payment of legal fees or Stamp Duty or purchase price discounts.

  • Will the advent of retention fees lead to smaller proc fees for brokers?

    12 Mar 2007

    Retention fees may pay off for brokers but one of our experts thinks that consumers will pay in the end through higher product prices

  • Woolwich launches lifetime tracker

    15 Mar 2007

    Woolwich has launched a tracker guaranteed to stay 0.18% above the Bank of England base rate for life, with no arrangement and no redemption penalties.

  • Yesmortgages grows Irish presence

    12 Mar 2007

    Sub-prime distributor yesmortgages is stepping up operations in the Republic of Ireland following its pilot launch there in 2006.

  • Yorkshire slams Saffron's low-start deal for divorcees

    12 Mar 2007

    Yorkshire has hit out at Saffron's six-month interest-free product targeted at people trying to get back on their feet after divorce.

  • Youngsters go global in quest for UK housing

    12 Mar 2007

    I've read a lot recently about first-time buyers having to relocate hundreds of miles to other parts of the country to beat Stamp Duty.

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