Mortgage Strategy
12 May 2008

  • FISA gives top spot to Nunnerley

    12 May 2008

    The Finance Industry Standards Association has made Phil Nunnerley its chairman. This follows a review by FISA last year, after which it decided it needed an independent chairman.

  • L&G appoints insurance boss

    12 May 2008

    Legal & General has appointed Peter Graham as managing director of its general insurance business. He will report to John Pollock, group executive director of protection and annuities at L&G. He has more than 15 years of executive management expertise in the general insurance market and was previously chief executive at esure and Towergate.

  • Lloyds TSB on track for good year

    12 May 2008

    Lloyds TSB says it is on track to deliver a good performance by its wholesale and international banking units in the first half of 2008 despite a £387m write-down. The UK's fifth largest bank says it saw a double-digit percentage rise in pre-tax profits in Q1 2008.

  • How much bad news do AR’s need before they go it alone?

    16 May 2008

    The recent news that Thinc Group Limited and two of its group companies have been subject to a financial penalty of £900,000 (after a 30% discount), for not having adequate risk management and compliance systems for its sub-prime mortgage business will send a shiver through all those responsible for the accounts of networks.

  • Understanding common compliance mistakes

    16 May 2008

  • 150 Estate agency branches closing

    12 May 2008

    Estate agencies are closing branches at the rate of 150 a week, with 4,000 job losses since the start of the year, says Debtwire, an organisation that monitors the health of companies. It says the number of branches has fallen from about 13,000 at the start of the year to about 12,000.

  • 78% of borrowers choose fixed rates in April

    12 May 2008

    More than three-quarters of borrowers opted for a fixed rate in April.

  • A&L appoints head of intermediary sales

    13 May 2008

    Alliance & Leicester has appointed Viviane Clement as head of intermediary sales to replace its former intermediary sales director Mark Blackwell.

  • A&L reveals £192m write-downs

    13 May 2008

    Alliance & Leicester has revealed write-downs of around £192m in an Interim Management Statement.

  • Adam Tyler, chief executive, National Association of Finance Brokers

    12 May 2008

    Another week, and another lender closes their doors to new business. This time, the specialist lending arm of the Derbyshire, Salt Commercial Finance, has announced that it has already managed to reach its lending allowance for the year. The result has been that it is withdrawing from the market for the time being. I wish them all the best and look forward to seeing them back in action soon.

  • All will be well if we stay cool

    15 May 2008

    Inspired by poet Rudyard Kipling, Sally Laker, managing director of Mortgage Intelligence, believes the calm professionalism of lenders and brokers will see the industry through this stormy period, with the help of networks and clubs

  • April inflation highest for five years

    14 May 2008

    Inflation rose at the highest rate for more than five years last month, says the Consumer Price Index.

  • Are ARs of network better at compliance than directly authorised brokers?

    12 May 2008

    Appointed representatives are not inherently more compliant than DA firms and both must ensure they aren't cutting corners, say our experts

  • Assetz chief: Bank should cut rates

    14 May 2008

    Stuart Law, chief executive of Assetz, says the Bank of England should not use yesterdays spike in inflation as an excuse to hold back interest rate cuts.

  • At last, lenders placed in rehab

    15 May 2008

    John Rowland, analyst at Cicero, says the government has finally put mortgage lenders into rehab but he believes that if the local elections go badly for Labour the patients might get a new doctor

  • AToM integrates with Trigold’s E-Trading Centre

    12 May 2008

    All Types of Mortgages, the mortgage distributor, has added its AIP form to Trigold’s E-Trading Centre enabling brokers to send both AIP and full mortgage applications straight from Trigold’s Prospector AAA sourcing system.

  • Attack on dual pricing may backfire

    12 May 2008

    I know we are living in difficult times in the mortgage world, but has everyone gone mad? I was horrified to read that the Association of Mortgage Intermediaries is thinking of going to the Office of Fair trading about the alleged dual pricing strategy lenders are adopting.

  • B&B to launch £300m rights issue

    14 May 2008

    Bradford & Bingley has today unveiled plans to raise £300m via a shareholder rights issue.

  • Barclays reveals £1.7bn write-downs

    15 May 2008

    Barclays has revealed write-downs of £1.7bn during Q1 in its Interim Management Statement released today.

  • Base pledges commitment to brokers

    15 May 2008

    Base Commercial Mortgages is promising brokers the payment of fees, continuity of funding and a fast and reliable service.

  • Base promises brokers the three Fs

    16 May 2008

    Base Commercial Mortgages, the specialist commercial mortgage lender, is promising to provide brokers with the 3 essential Fs: the payment of fees for all introduced business, a continuity of funding and a fast and reliable service.

  • BDS to take over Knight Funding packaging

    12 May 2008

    The BDS Mortgage Group is to take over the packaging arm of Knight Funding.

  • Beacon Homeloans denies withdrawal rumours

    13 May 2008

    Beacon Homeloans has denied rumours that it plans to withdraw from lending.

  • Bet you house prices are falling

    15 May 2008

    Last month the Halifax scored a bit of an own goal for the industry when its house price index showed the biggest monthly drop in house prices since Black Wednesday. So where are house prices going?

  • Borrowers ask, is anybody there??

    15 May 2008

    At a time when home buyers need the services of a good medium to secure mortgages and providers are under pressure too, Philip Tebbatt questions the action of the industry's regulators and wonders whether they will cause even more firms to shuffle off this mortal coil

  • BoS to cut corporate jobs

    12 May 2008

    Bank of Scotland's corporate banking division is to cut some 90 posts in the UK. A spokesman for BoS says: "The corporate division constantly reviews its operations to ensure it has the right level of staff to meet the needs of the business."

  • Bridgewater Equity Release reveals forum dates

    13 May 2008

    Bridgewater Equity Release has revealed two more dates for its regional Equity Release Broker Breakfast Forums

  • Bridging finance over troubled waters

    12 May 2008

    Because loans are short term and property investment opportunities are growing, bridging finance is keeping its head above the waves in the credit crisis, says Ryneweld van der Horst

  • Bridgingloans.com reports growth in short-term finance

    16 May 2008

    Bridgingloans.com has reported a rapid growth in short-term finance.

  • Brilliant Loans adds Endeavour to panel

    12 May 2008

    Brilliant Loans, the secured lending packager. part of Exclusive Connections group, has added Endeavour Personal Finance to its lending panel.

  • Brokers call on lenders to define portability

    12 May 2008

    Brokers are urging lenders to adopt a standard definition of portability.

  • Brokers should amend letters in line with TCF guidelines

    12 May 2008

    The last issue of Mortgage Strategy, gave an update on the dual pricing situation along with the views of the Financial Services Authority in a news story headlined 'Dual pricing crippling brokers'.

  • Brokers should source direct deals and charge clients fees

    12 May 2008

    As Danny Lovey's open letter in the May 5 issue of Mortgage Strategy pointed out, together with letters from Alan Campbell and Peter Stokes in the issue before, the best mortgage deals are currently reserved for direct-to-lender business.

  • Brokers want OFT to step in on dual pricing

    12 May 2008

    In the week that Mortgage Strategy launches its Dump Dual Pricing campaign, a whopping 85% of you believe that the Office of Fair Trading should launch an investigation into the practice. Only 15% believe the OFT should leave lenders alone.

  • Brokers win the battle for business

    12 May 2008

    It's hard to find good news in the broker market among so much bad at the moment but one heartening trend should be noted.

  • Building plans unrealistic

    12 May 2008

    Government plans to build 250,000 new homes in 2008 are out of touch with reality, a leading house builder claims.

  • Call for tougher stress tests

    12 May 2008

    The Financial Services Authority is set to get tough on stress testing after warning that many firms' test methods need to be more robust.

  • Cantor Spreadfair predicts 16.4% fall in house prices

    12 May 2008

    Cantor Spreadfair has forecast a 16.4% drop in house prices by 2010.

  • Cheshire launches two fixed rate products

    15 May 2008

    Cheshire has launched two fixed rate deals - one of which is exclusively for brokers.

  • CML urges EC to focus on stability before mortgage market integration

    15 May 2008

    The Council of Mortgage Lenders has urged the European Commission to shelve its white paper proposals on integration of European Union mortgage markets.

  • Commercial 1 launches First 4 Seconds

    12 May 2008

    Commercial 1, the specialist Bromley-based brokerage has launched First 4 Seconds, a sister company to deal with secured loans.

  • Commercial market tumbles

    15 May 2008

    Julien Holmes, managing director of Crown Mortgage Management, believes that there are major challenges for lenders in the face of a faltering commercial property market

  • Completions boom for L&G

    12 May 2008

    Legal & General Mortgage Club saw completions from directly authorised brokers soar in April.

  • Connells slams £200m pledge for housing market

    15 May 2008

    Connells Survey & Valuation says the government's pledge of £200m to help the housing market is a "distraction technique" and just grazes the surface of what is needed.

  • Credit Action campaigning against Facebook ads

    16 May 2008

    Debt charity Credit Action, is campaigning against ads on social networking sites, such as Facebook that are breaking advertising rules.

  • Credit crunch is just the end of irresponsible lending

    12 May 2008

    Following recent media reports, I have to say I can't understand all the hype that is being generated about the credit crunch.

  • CurriculumVitae: Brian Brodie

    12 May 2008

    "Bagpiping provides hours of fun for the lonely"

  • Cut-price Equifax access via Trigold

    12 May 2008

    Equifax is offering Trigold customers access to its credit rating system at a discounted price. Trigold users can access the system for just £8.25 per transaction rather than the usual £14.95.

  • Dear Delia...

    12 May 2008

    My self-employed clients have an interest-only mortgage for £500,000. It is a two-year fixed rate at 5.5% and ends in November. With some lenders withdrawing SVR mortgages as well as deals of £500,000 and over my clients are worried they will not be able to remortgage. As they have had recent credit problems they are unlikely to be able to change lenders. The property was valued at £500,000 four years ago. They think it is now worth around £650,000. What are their options?

  • Debt Management

    12 May 2008

    With individual voluntary arrangements predicted to rise this year, brokers could earn extra income by tapping into the business opportunities they provide while fulfilling their duty to clients, says Harvey Jones

  • Demand for risk analysis rockets

    12 May 2008

    The Bank of England's £50bn rescue package is driving up demand for portfolio risk analysis.

  • Demand from first-time buyers for brokers up 10%, says CML

    14 May 2008

    Research from the Council of Mortgage Lenders reveals first-time buyers are turning to brokers more often to find the best deal.

  • Dual pricing hostilities loom

    12 May 2008

    Networks have vowed to un-leash hell if lenders do not put a stop to dual pricing.

  • edeus adapts to changing market with Newcastle Building Society savings deal

    12 May 2008

    Edeus has joined forces with Newcastle Building Society to provide intermediaries with an additional fee income opportunity in the form of Newcastle savings accounts.

  • edeus reveals full details of Newcastle link

    12 May 2008

    edeus has revealed full details of its link with Newcastle to provide brokers with an extra income stream in the form of two Newcastle deposit account products.

  • Edeus to chop jobs and head in new direction

    15 May 2008

    Edeus has stopped lending - resulting in the loss of some 50 jobs - but plans to re-enter the market when conditions improve.

  • Endeavour to join Brilliant Loans lending panel

    12 May 2008

    Brilliant Loans has expanded its lending panel with the appointment of Endeavour Personal Finance.

  • Enterprise aims to be fastest in the market

    12 May 2008

    Enterprise says it has radical plans to slash the time it takes to generate mortgage offers.

  • Enterprise moves to slash offer times

    12 May 2008

    Enterprise plans to reduce the time it takes to generate mortgage offers by making it easier for brokers to source deals.

  • Europe takes top spot for overseas property buyers

    13 May 2008

    Europe remains the dominant region for overseas property investment with six of the top 10 most popular locations found on the continent.

  • European briefs

    15 May 2008

    Santander, the Spanish parent bank of Abbey, is to buy Royal Bank of Scotland's European consumer lending business. The company provides credit cards and direct consumer loans in Germany, the Netherlands, Belgium and Austria, and had average assets of €2.2bn and 2.3 million customers last year.

  • Europeans feel the squeeze

    15 May 2008

    Malcolm McDowell, head of economic affairs at the European Mortgage Federation, provides an update on how the liquidity crisis is affecting the mortgage and housing markets on the continent

  • Evaluate Technologies suspends secured loan sourcing system

    13 May 2008

    Evaluate Technologies is putting its sourcing system for secured loans on the back burner until market conditions improve.

  • Evaluate to hire 10 testers

    12 May 2008

    Evaluate Technologies plans to double the size of its internal software testing team by hiring 10 new testers with underwriting experience.

  • Exclusive Connections adds Lancashire Mortgage Corporation

    14 May 2008

    Lancashire Mortgage Corporation, the commercial lending division of Blemain Group, has been added to the Exclusive Connections panel.

  • Exclusive Connections adds Lancashire Mortgage Corporation to panel

    16 May 2008

    Exclusive Connections has added Lancashire Mortgage Corporation to its panel.

  • Exclusive to distribute Guardian debt services

    12 May 2008

    burgeoning credit management firm Guardian has added another packager to help distribute its debt-handling services.

  • EXPO: AMI to reveal proposal over dual pricing

    14 May 2008

    The Association of Mortgage Intermediaries is set to make an announcement at the Mortgage Business Expo in Manchester tomorrow regarding dual pricing.

  • EXPO: CML urges understanding over dual pricing

    14 May 2008

    The Council for Mortgage Lenders has highlighted the need for lenders and brokers to “bear with each other” in the midst of market uncertainty.

  • EXPO: FSA tells brokers to charge fees on direct deals

    15 May 2008

    The Financial Services Authority has urged brokers to charge clients a fee for advice when advising them to go direct to lenders for better deals.

  • EXPO: HBOS and Barclays dip in to BoE scheme

    14 May 2008

    HBOS and Barclays are to dip into the Bank of England's Special Liquidity Scheme, says The Council of Mortgage Lenders.

  • EXPO: Lenders prefer DAs to ARs

    14 May 2008

    The marketing director of Vision Network has claimed lenders have been a lot more comfortable going through networks because they can control distribution.

  • EXPO: Liquidity may not return until end of 2009

    14 May 2008

    Liquidity in the mortgage market may not return to what brokers would perceive as normal until the end of 2009.

  • Extra curricular bonus for Johnson

    15 May 2008

    Commercial First chief executive David Johnson was in the winner's enclosure following a win at the Grand National on Saturday 5 April.

  • Facing up to the house price dilemma

    12 May 2008

    LTVs on the most competitive two-year fixed rate deals have come down from 93% to 85%, Mform.co.uk has revealed.

  • First-day rule for HIPs is extended

    12 May 2008

    The government has extended the first-day marketing rule on Home Information Packs until the end of the year. Robin Marcus, director at Easier2Move, says: "We are delighted that the government is working to ensure consumers benefit from HIPs and that it has recognised the positive effectof the packs."

  • FISA launches revamped website

    15 May 2008

    FISA, the secured loan industry’s self-regulatory and compliance body, has launched its revamped website at www.fisa.co.uk.

  • FSA fines Thinc 900K

    15 May 2008

    The Financial Services Authority has fined Thinc Group 900,000 for risk management and compliance failures relating to the sale of sub-prime.

  • FSA tells insurance sites to shape up

    12 May 2008

    The Financial Services Authority has called on insurance comparison websites to provide information that is clear, fair and not misleading.

  • GMAC parent to sell off assets

    12 May 2008

    GMAC-RFC's parent group, Residential Capital Corporation, says it hopes to sell $600m worth of assets by June 30 and is considering the auction of European mortgage-backed securities held on its balance sheet.

  • Goodfellow made BSA chairman

    12 May 2008

    John Goodfellow, chief executive of Skipton, has been appointed chairman of the Building Societies Association for the second time. He will replace Iain Cornish, chief executive of the Yorkshire.

  • Gormless Gordon is out of his depth

    12 May 2008

    Last week I watched Prime Minister Gordon Brown being interviewed by Andrew Marr on television and felt rather depressed.

  • Government allocates £10m to debt advice

    12 May 2008

    A new £10m package of measures to support homeowners who may be facing difficulties with their mortgage repayments has been announced by the chancellor of the exchequer, Alistair Darling and housing minister Caroline Flint.

  • Government sets out plans to help failing banks and FTBs

    14 May 2008

    The government has set out a raft of measures to help it bail out failing banks in the future and massively expanded its shared ownership scheme to include all first-time buyers.

  • HBOS follows RBS move with its own rights issue

    15 May 2008

    HBOS has followed rival RBS's £12bn rights issue initiative to bolster its capital base by £4bn in the face of gloomy prospects for the market and a writedown of about £3bn as a result of the falling value of its US Alt-A mortgages - a near-prime US product.

  • HBOS sells shares in Rightmove for £54m

    16 May 2008

    HBOS has sold its holding in Rightmove shares for more than £54m.

  • High Street's Forrest makes return with Guardian

    15 May 2008

    Former High Street Home Loans chief executive Gary Forrest has returned to the market with Guardian, a credit management company.

  • High Street's Forrest makes return with Guardian

    15 May 2008

    Former High Street Home Loans chief executive Gary Forrest has returned to the market with Guardian, a credit management company.

  • Home & Capital join Paradigm's equity release panel

    12 May 2008

    Paradigm Mortgage Services has added home reversion plan provider, Home & Capital, to its equity release panel.

  • Home & Capital joins Paradigm's equity release panel

    12 May 2008

    Paradigm Mortgage Services has added Home & Capital to its preferred equity release panel.

  • Home of Choice joins forces with IN Partnership

    12 May 2008

    Home of Choice, the national, specialist multi tied mortgage network and IN Partnership, the independent financial adviser firm have formed an exclusive strategic alliance.

  • Home of Choice links up with IN Partnership

    12 May 2008

    Home of Choice and IN Partnership have launched a strategic alliance to provide expert advice.

  • Housebuilding slump threatens Labour plan

    15 May 2008

    Persimmon, the country's biggest housebuilder, is to stop building on new sites until market conditions improve. Sales in the first four months of 2008 fell by 24%

  • Housing minister's memo blunder

    14 May 2008

    Housing minister Caroline Flint has been snapped holding a memo warning of a five to 10% house price fall “at best.”

  • Housing starts slump by 24%

    16 May 2008

    Housing minister Caroline Flint has called the 24% slump in housing starts a short-term trend.

  • HSBC extends Rate Matcher mortgage offer

    14 May 2008

    HSBC has extended its hugely successful Rate Matcher mortgage deal by six weeks to 29 June 2008.

  • I hope Abbey won't prove to be another half-hearted lender

    12 May 2008

    While the news that Abbey is bringing exclusives back is a breath of fresh air (Mortgage Strategy May 5), I hope this does not adversely affect the lender's service even more.

  • I wonder how long it will be before we see Nationwide plc

    12 May 2008

    As a former employee of Nationwide, I usually sing its praises on rates, service and the way it treats everyone fairly.

  • Include equity release in pensioner strategy, says Home & Capital

    14 May 2008

    Home & Capital is calling on the government to make equity release a fundamental part of the overall strategy of reforming social care.

  • Inflation hits 3% as unemployment heads north

    14 May 2008

    Data from the Bank of England and the Office of National Statistics shows inflation hit 3% in April and unemployment rose for the third consecutive month.

  • Insurance could rescue brokers

    12 May 2008

    General insurance products could provide a lifeline for brokers in current market conditions.

  • IPA installs new technology

    12 May 2008

    Investors Planning Associates has chosen new technology for its front and back office work.

  • Islamic building society could offer a model to suit the times

    15 May 2008

    Ahmed Suleiman MBE and John Murray believe that the time is ripe for something completely new from the building society sector - a mutual based on Muslim principles of housing finance

  • It may be time for a bit of price fixing

    12 May 2008

    As lenders vie to be the least competitive in the market, perhaps the top 10 should get together to formulate a strategy to reduce prices across the market, says Katie Tucker

  • It's buy one, get one free as housing slump deepens

    15 May 2008

    Buy one, get one free offers are among aggressive marketing strategies being used by housing developers in the Irish Republic in a bid to beat the housing slump.

  • Join AMI and help us to help brokers through the storm

    12 May 2008

    The broking profession is facing its toughest challenge since the introduction of regulation.

  • Kensington launches range via Mortgage 2000

    13 May 2008

    Kensington has today launched a new product range exclusively through Mortgage 2000.

  • KENT RELIANCE ANNOUNCES CAPITAL RESTRUCTURING WITH A POSITIVE TWIST

    16 May 2008

    Kent Reliance, the UK fastest growing building society over the last 10 years, has today announced a capital restructuring that will yield an exceptional one-off pre-tax benefit of £8.5m.

  • Kirstie’s assets

    12 May 2008

    Kirstie Allsopp must be in a celebratory mood.

  • Landlords see buying opportunities in crunch

    12 May 2008

    Buy-to-let investors remain unfazed by the credit crunch and are eyeing up bargain properties.

  • Legal briefs

    15 May 2008

    The Financial Services Authority might conduct reviews of high impact firms every two years. This recommendation is included in its report on the supervision of Northern Rock, issued on 26 March. It also suggests the FSA considers all core areas of businesses.

  • Lenders have never needed brokers

    12 May 2008

    The subject of dual pricing has raised its ugly head again and inevitably the same old arguments have been dragged out of the closet and back into the headlines of your favourite mortgage magazine.

  • Lenders must offer good deals again or we'll all lose out

    12 May 2008

    It's great to see a lender such as HSBC offering a lifeline to our customers coming off the excellent fixed rates we advised them to take out two or three years ago.

  • Lenders should develop their own safety nets rather than rely on the state

    12 May 2008

    There's no doubt that far too many mortgage borrowers have little or no financial safety net in place, yet the Council of Mortgage Lenders is trying to pressurise the government into reforming Income Support for Mortgage Interest which will have little effect.

  • Lenders unveil deposit account deals

    12 May 2008

    edeus has joined forces with Newcastle to provide brokers with an extra income stream in the form of two Newcastle deposit account products.

  • Lending balance must be restored

    12 May 2008

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

  • Lending for house purchase plummets

    13 May 2008

    Mortgage lending for house purchase has dropped almost 50% in March this year compared to the same month last year.

  • Link Lending appoints underwriting manager

    13 May 2008

    Bridging and short term lender, Link Lending Limited has appointed Matt Smith to the newly created role of underwriting manager.

  • Link Lending appoints underwriting manager

    13 May 2008

    Link Lending has appointed Matt Smith as underwriting manager.

  • Link Lending on track for summer secured loan launch

    12 May 2008

    John Maclean, managing director at Link Lending, says it is still on track to launch it secured loan products in the summer, but warns it will be a small, soft launch.

  • Lloyds TSB offers Airmiles deal

    12 May 2008

    Lloyds TSB has launched an Airmiles mortgage product. Launched as part of a partnership between Lloyds TSB and Airmiles, the product will offer customers 6,000 Airmiles up-front, plus 50 extra miles with each monthly payment.

  • LMS provides free paper HIP copy for sellers

    16 May 2008

    LMS has unveiled the provision of one free paper copy of a Home Information Pack for the seller on all new orders placed with the firm.

  • London house prices continue to rise

    16 May 2008

    Prices are still rising in central London, new data from the Land Registry reveals.

  • MAB named preferred financial services provider

    12 May 2008

    The Home Sale Network has named Mortgage Advice Bureau as its preferred provider to offer financial services to its members

  • Market watch 12 May 2008

    12 May 2008

    Swaps fell for the second week running and are now greatly reduced compared with their recent highs. Three-month LIBOR is now just 5.8%.

  • Maybe it's time to get out of the broking game for good

    12 May 2008

    Brokers are complaining about lenders' dual pricing but of course, lenders finally have brokers right where they want them.

  • Messages of hope for Optoma crash pair

    12 May 2008

    Messages of hope poured in last week for Optoma Broker Solutions' missing directors as fears mounted for their safety.

  • Mike Mitchell retires from C&G

    12 May 2008

    Mike Mitchell, mortgage customer services director at Cheltenham & Gloucester, took early retirement last week. After 25 years in the Lloyds TSB Group, Mitchell has decided to retire to pursue other interests. Mitchell joined the Lloyds TSB Group in 1983, starting as a BDM for TSB in Manchester. Following the Lloyds-TSB merger in 1996 he helped establish the group's national sales office and was appointed head of national sales in 1998. He became a director at C&G in 2004.

  • Mortgage 2000 Packaging launches retention strategy

    13 May 2008

    Mortgage 2000 Packaging has launched an initiative to help intermediaries retain their existing clients and increase their overall business levels.

  • Mortgage approvals plummeted by 18% in March

    15 May 2008

    Mortgage approvals for house purchase dropped 18% in March compared with February, according to the British Bankers' Association.

  • MORTGAGE EXPO 2008: AMI to make announcement on dual pricing

    14 May 2008

    The Association of Mortgage Intermediaries is set to make an announcement at the Business Mortgage Expo in Manchester tomorrow regarding dual pricing.

  • MORTGAGE EXPO 2008: Lafferty launches 1st Document Service

    15 May 2008

    Gerry Lafferty, the ex sales and marketing director at Access Broker Services has set up 1st Document Service, a document signing and collection service for brokers in the secured loan and debt management sector.

  • MORTGAGE EXPO 2008: Lenders favouring ARs over DAs

    14 May 2008

    Speaking at the Mortgage Business Expo in Manchester today, Payam Azadi, marketing director at Vision Network says that over the last year, lenders have been a lot more comfortable going through networks, so they can control distribution.

  • MORTGAGE EXPO 2008: Mortgage fraud is funding terrorism

    14 May 2008

    The Financial Services Authority has warned that professional mortgage fraud rings are using mortgage fraud to fund terrorism.

  • MORTGAGE EXPO 2008: Secured loan sector to suffer the most from repossessions

    15 May 2008

    Eugene Esterkin, managing director of bridging lender Affirmative Finance says it will be the secured loan market that is worst affected by the credit crunch.

  • MORTGAGE EXPO 2008:AMI battling with FOS over DA brokers liability

    14 May 2008

    The Association of Mortgage Intermediaries is in talks with the Financial Ombudsman Service so that Directly Authorised brokers can get the same benefits as Appointed Representatives regarding what they are liable for when they retire.

  • Mortgage Man where are you?

    12 May 2008

    It’s a pity life doesn’t mirror comic books but it doesn’t so instead of having muscled, virile and dynamic Mortgage Man zooming over Canary Wharf and the City to put the financial world to rights, we have a set of real life heroes who modestly wear their y-fronts under their tights and could easily be mistaken for people more ordinary.

  • Mortgage Next launches insurance products

    16 May 2008

    Mortgage Next Partners is launching buildings and contents and mortgage payment protection insurance products for directly authorised brokers.

  • Mortgage Next partners launches B&C and MPPI insurance

    16 May 2008

    Mortgage Next Partners is launching buildings and contents and mortgage payment protection insurance products for directly authorised brokers which guarantee to pay 30% commission for the life of the policies.

  • Mosaic launches anti-dual pricing campaign

    14 May 2008

    Mosaic Mortgage Club is kick starting a campaign calling on lenders to cease dual pricing.

  • Movers and Shakers

    15 May 2008

    Comings and goingsApril saw the return of Sir James Crosby, formerly chief executive of HBOS, to the mortgage lending fraternity, this time to lead the Treasury's mortgage finance working group.

  • Multiple borrower applications could be key for consumers

    13 May 2008

    Home buyers squeezed by tighter lending criteria can join together to apply for one multiple borrower mortgage application, says Mform.co.uk.

  • Mutual bosses remain optimistic

    12 May 2008

    A poll by the Building Societies Association of the chief executives of mutuals has found that 70% are optimistic about the year ahead. While 96% expect the cost of retail funding to rise in 2008 and 90% expect that of wholesale funding to increase, several say the quality of their mortgage books means they are well placed to ride out a market downturn.

  • Mutuals plan online savings schemes

    15 May 2008

    A survey by IT services company TietoEnator reveals that 54% of building society respondents are planning to introduce online savings channels within the next 12 months.

  • NAEA welcomes new president

    13 May 2008

    The National Association of Estate Agents held its annual gala dinner on Friday May 9 to inaugurate Chris Brown as its new President.

  • Nationwide releases The Teenager's Guide to Money

    12 May 2008

    Nationwide has launched a financial education programme for UK teens and young adults.

  • Nationwide slashes rates on fixed deals

    13 May 2008

    Nationwide is cutting the rates on some of its fixed rate mortgage deals by up to 0.30%.

  • NEMO TO MAKE UP TO 70 STAFF REDUNDANT

    12 May 2008

    Nemo Personal Finance, a subsidiary of the Principality Building Society and until recently something of a flagship in the Welsh society’s diversification strategy, has placed 70 staff in consultation as it looks to reduce business volumes.

  • Network Data launches adviser development programme

    16 May 2008

    Network Data have released details of its new Adviser Development Programme which includes online solutions as well as a series of regional meetings up and down the country.

  • Northern Rock reveals rising arrears

    12 May 2008

    Northern Rock has revealed the proportion of its total residential mortgages in arrears of three months or more has risen by 0.38% in Q1.

  • Norton appoints group operations manager

    16 May 2008

    Chris Powley has joined Norton Finance, as group operations manager.

  • NR shareholders offer £100 bid for Labour Party

    16 May 2008

    The chairman of the Northern Rock Shareholders Action Group has sent an open letter to the Prime Minister offering to buy the Labour Party for £100.

  • NR’s arrears rise

    12 May 2008

    Northern Rock has revealed the proportion of its total residential mortgages in arrears of three months or more has risen by 0.38% in Q1.

  • Obesity balances out as a bargain

    15 May 2008

    Could the USA economy be failing just because Americans are just too fat? Believe it or not this question, albeit raised a tad more delicately, is addressed by a new research report by ING Wholesale Banking.

  • Obituary

    15 May 2008

    Sir Derek Higgs, chairman of Alliance & Leicester dies

  • OFT launches sale and rent back study

    14 May 2008

    The Office of Fair Trading has launched an investigation into sale and rent back.

  • One Account deals pulled from sourcing systems

    13 May 2008

    RBS Intermediary Partners has temporarily withdrawn all its One Account products from sourcing systems due to unprecedented demand.

  • Over 170 brokers attend Bridgingloans.coms seminars

    16 May 2008

    Bridgingloans.com, has had over 170 brokers from across the UK attending its short-term loan seminars in the first six months.

  • Packaging levels up 45% at M2000

    12 May 2008

    Mortgage 2000 Packaging says its business levels have returned to pre-credit crunch levels. Applications received by the firm in the first four months of 2008 were up by 45% compared with the last four months of 2007.

  • Paradigm unveils member forum

    12 May 2008

    Paradigm Mortgage Services has launched an interactive forum exclusive to its members. The forum is split into industry sectors and users can post comments and questions, receiving instant feedback from other members.

  • Partnership temporarily withdraws Lifetime Mortgage

    13 May 2008

    Partnership has temporarily withdrawn its Lifetime Mortgage until further notice.

  • Pitch battle

    12 May 2008

    Strategy’s ace display sales executive Darren Plimmer had a spot of bo-ther last week at an industry football event arranged by Lifesearch to raise money for the Anthony Nolan Trust. The charity helps recruit donors for bone marrow transplants.

  • PMPA adds Cheshire Mortgage Corporation to its panel

    12 May 2008

    The Professional Mortgage Packagers Alliance has added Cheshire Mortgage Corporation, part of the Blemain Group, to its lender panel.

  • Portfolio tool from MfB

    12 May 2008

    Mortgages for Business is launching a portfolio management tool for its business partners which is fully integrated with its sourcing tool Bluesky. Thesystem will enable clients to track the progress of cases online 24 hours a day.

  • Praxis guarantees proc fees

    16 May 2008

    Praxis has announced that its parent company Melton Mowbray will guarantee payment of proc fees for cases that complete with Praxis.

  • Praxis reveals proc fee guarantee

    16 May 2008

    Praxis Mortgages is providing any broker that submits a case from May 19 a letter from Melton Mowbray guaranteeing payment of completed cases.

  • Pressure to sell last of Irish mutuals

    15 May 2008

    Some members of the Educational Building Society, scenting a windfall, urged it to abandon its status as the last of the Irish mutuals and opt for a sale, at a lively AGM in Dublin.

  • Promise boosts commission

    12 May 2008

    Promise Solutions has increased its secured loan commission from 60% to 70%. The company is offering the additional commission on all secured loan enquiries received during May. All brokers who visit the firm's stand at the Mortgage Business Expo Manchester will qualify for the offer.

  • Property firms' borrowing rises

    12 May 2008

    Borrowing by firms involved in the development, buying, selling and renting of property increased by £9.3bn to £229.2bn in Q1 2008 compared with the previous quarter, according to the Bank of England.

  • Property investors look further afield

    12 May 2008

    With the property markets in France and Spain becoming overcrowded, there are still good investment opportunities in Eastern Europe and beyond, says Sally Laker

  • Redesign PPI for the 21st century, says Assurant

    12 May 2008

    Assurant Solutions says payment protection insurance cover is past its sell-by date and is calling for a product rethink to better meet the demands of consumers.

  • Reports of house price falls highest for 30 years

    13 May 2008

    The Royal Institute of Chartered Surveyors has revealed 95% more surveyors saw house prices drop in April than a rise - the highest amount since records began in 1978.

  • Repossesion orders in line with CML forecast

    12 May 2008

    The Council of Mortgage Lenders says figures from the Ministry of Justice that reveal a 17% rise in mortgage possession orders are broadly in line with its expectations.

  • Repossesion orders in line with CML forecast

    12 May 2008

    The Council of Mortgage Lenders says figures from the Ministry of Justice that reveal a 17% rise in mortgage possession orders are broadly in line with its expectations.

  • Repossession forecasts do not make any sense to me

    12 May 2008

    I'm a little puzzled about why the number of repossessions is said to be poised to climb dramatically.

  • RIDGE RESIGNS FROM HELP

    12 May 2008

    Rob Ridge, managing director at Help Personal Finance, part of the Help Group, and a regular contributor to Lending Strategy, has resigned from the firm after almost three years.

  • Rise in sales of luxury homes

    12 May 2008

    A whopping 8,257 properties worth over £1m were sold across Great Britain in 2007, says Halifax. This is a 36% increase on the 6,057 that were sold in 2006.

  • Savills sees business volumes fall in London

    12 May 2008

    Savills has blamed the credit crunch for a sharp fall in residential transactions in London in Q1 2008.

  • Scare headlines mask reality

    15 May 2008

    Gary Styles, strategy, risk and economics director, Hometrack, takes an objective look at the mortgage and housing market and suggests that there's a mismatch between the true story and the headlines

  • Select & Protect in deal with Payplan

    12 May 2008

    Select & Protect has signed a deal with Payplan as part of its strategy to enter new markets.

  • Sesame chooses FLO to provide exclusive discounts

    14 May 2008

    Sesame has chosen Finance Leads Online as its provider of seasonal broker discounts on mortgages and financial services.

  • SHIP lobbying for sale-and-rent-back regulation

    15 May 2008

    Safe Home Income Plans is calling for the sale-and-rent-back market to be regulated.

  • Simply telling brokers to stop moaning is unhelpful

    12 May 2008

    I read with interest Andy Sewell's recent letter about brokers whingeing about conditions in the mortgage market (Mortgage Strategy April 28).

  • Societies are not for the chop

    15 May 2008

    In this month's letter from America, Craig Focardi contrasts the fortunes and prospects of the US and UK building society sectors and inspired by his reference to A Tale of Two Cities, we pay homage to Madame Guillotine

  • Some good news from that Goodfellow

    15 May 2008

    John Goodfellow, chief executive of the Skipton Building Society, has some good news - the current gloom and doom that's undoing the housing and mortgage market will be resolved during his year in office as chairman of the Building Societies Association.

  • Some legal training would be helpful

    12 May 2008

    Equity release brokers would be able to advise with greater authority if they had some legal knowledge and training sessions or even a qualification may be a good idea, says Sue Read

  • Stakes too high for a bluff this time

    15 May 2008

    Michael Coogan went to Downing Street along with other industry leaders to meet with housing minister Caroline Flint and chancellor Alistair Darling

  • Steve Walker, managing director, Promise Group

    16 May 2008

    Lenders are having a tough time from the broking community over dual pricing and for pulling products at short notice and they seem none too pleased about it.

  • Stock Picker

    12 May 2008

    A combination of the four-day week and the absence of any significant news meant the markets made little progress last week.

  • Style notes

    12 May 2008

    With 20 weeks to go before a rag-tag team of industry representatives attempts the Berlin marathon, the prospect of the 26 mile epic is already concentrating minds.

  • Supporting brokers is right thing to do

    12 May 2008

    Some of you in the broker sector may be questioning why we have spoken out against dual pricing, whereby lenders have undercut intermediary products.

  • Take heed of EC and expect the worst

    12 May 2008

    The credibility of chancellor Alistair Darling and his team was dealt another blow last week when the European Commission dismissed his claims that the UK economy will bounce back from the credit crunch next year.

  • The accidental chief executive

    15 May 2008

    David Cowie worked for an interventionist anti-Thatcherite employment creation agency set up by the Labour-controlled county council in Lancashire before joining Manchester Building Society near the end end of the 1980s, but his life didn't get any quieter after that

  • The Insider

    16 May 2008

    So the FSA has finally come off the fence on dual pricing and guess what? It didn’t fall and it wasn’t pushed, it positively jumped, straight into the trough occupied by the lenders.

  • The month at a glance

    15 May 2008

    The downturn in the housing market has been marked by a new phenomenon - competition for business has become a thing of the past - but what is cause and what is effect?

  • The part accountants played in crisis

    12 May 2008

    Lenders are squeezing brokers out of the distribution chain - that was the view of delegates at Lending Strategy's mortgage funding conference in Manchester last month.

  • The Tenpenny Opera hits high C

    15 May 2008

    The Tenpenny Opera premiered in the UK last month to almost universal acclaim.

  • Three biggest lenders seem to be operating as a cartel

    12 May 2008

    I'd like to question whether there is a cartel operating in the mortgage market involving three of the UK's largest lenders - Nationwide, Halifax and Woolwich.

  • Tiuta backs bridging lender trade body

    13 May 2008

    Tiuta is backing the Association of Short Term Lenders and urged it to champion transparency in the bridging sector.

  • Tiuta offers support for bridging trade body

    13 May 2008

    Bridging loan company, Tiuta, has welcomed the launch of the Association of Short Term Lenders and is calling for it to champion increased transparency in the sector in order to create greater consumer confidence. Tiuta wants to see the ASTL reflect broader regulatory best practice including Treating Customers Fairly, as well as promote good practice and transparency among members while allowing them to retain their competitive individuality Work with the Financial Services ...

  • TMB appoints London BDM

    15 May 2008

    The Mortgage Business has appointed Paul Sawford BDM for the north, north west and east london areas in addition to parts of Essex.

  • TMB increases BDM team

    12 May 2008

    TMB has appointed Paul Sawford as a business development manager for the North, North West and East London areas, as well as parts of Essex.

  • Towards targeted distribution

    15 May 2008

    Partnerships between building societies and broker-facing lenders offer intriguing targeted distribution possibilities, according to Richard Monahan, director of asset management at edeus

  • Trade body is more crucial than ever

    12 May 2008

    The Association of Mortgage Intermediaries has come of age. I realised this for the first time on the Friday before the bank holiday.

  • UBS to cut 5,500 jobs by 2009

    12 May 2008

    UBS is to cut 5,500 jobs by 2009. The Swiss bank is planning to shrink its workforce in a bid to cut its losses. Up to 2,600 of the job cuts will be achieved through compulsory redundancy.

  • UK faces risk of deepening crisis

    12 May 2008

    Monetary policy-makers across Europe are in denial if they think the worst of the credit crisis is over.

  • UK needs measures to guard against crises

    12 May 2008

    A global banking expert has urged the European mortgage market to set up emergency procedures to operate in the event of a banking crisis.

  • Until debt do them part

    15 May 2008

    Divorce and separation contribute significantly to consumers falling behind in their mortgage repayments but PPI only covers claims for accident, sickness and involuntary unemployment. Ian Moffatt believes it might be time to reinvent the product to take account of such life events

  • US likely to see a recession this year

    12 May 2008

    The US is likely to experience a recession this year, says HSBC.

  • Voting for Pink service awards opens today

    15 May 2008

    Pink Home Loans is now accepting nominations for its service awards.

  • W&B Mortgage Solutions joins forces with Debt Advice Portal

    13 May 2008

    The Debt Advice Portal, provider of debt solutions to brokers, has joined forces with W&B Mortgage Solutions, a specialist mortgage packager resource, to provide debt solutions advice.

  • War is declared on dual pricing

    12 May 2008

    It's amazing what a difference a year makes. Twelve months ago, the mortgage market was awash with money and lenders were fighting hand over fist to secure your business.

  • Warning over loan servicing

    12 May 2008

    Lenders considering launching into non-performing loan servicing have been warned they could be committing commercial suicide if they don't have the expertise.

  • We must restore new-build confidence

    12 May 2008

    The new-build property market has attracted its fair share of brickbats over the past year amid suggestions of inflated valuations and organised property fraud.

  • Woolwich form available on MTE

    12 May 2008

    Woolwich has made its rate switch application form available to users of the Mortgage Trading Exchange.

  • Would you go direct to a lender for a mortgage or consult a broker?

    12 May 2008

    It's tough being a mortgage broker. Deals are being withdrawn daily, clients can find better products direct from lenders and first-time buyers have virtually disappeared. But reams of apocalyptic newspaper headlines about the mortgage market mean there is an acute need for sound financial advice.

  • Xit2 joins forces with Praxis

    12 May 2008

    Xit2 has teamed up with Praxis to manage all its external valuation instructions. The Valuation Exchange developed by Xit2 streamlines the valuation instruction process and Xit2 says it can halve the time taken to instruct the valuation.

  • Yes Group names marketing director

    12 May 2008

    Yes Group has appointed online marketing specialist Nigel Sachdev as sales and marketing director as part of an aggressive growth plan.

  • Your Broker Network revamps website

    12 May 2008

    Your Broker Network has relaun-ched its website to make it easier for brokers to submit enquiries.

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