Mortgage Strategy
13 August 2007

  • Green homes for first-time buyers

    13 Aug 2007

    The Co-operative Bank and housing developer Living Space 21 are offering eco-friendly homes to first-time buyers. The apartments will be available from £59,950, excluding the cost of land.

  • NU raises home cover premiums

    13 Aug 2007

    Norwich Union is raising premiums on its home insurance policies by an average of 10%. Properties at high risk of flooding face the steepest increases. But NU says premiums across the industry have remained steady over the past 10 years and were due for review in any case.

  • 70% of small businesses aren't adequately insured

    15 Aug 2007

    Legal & General is offering advisers tips on how to generate new leads.

  • A case of stability versus self-interest

    13 Aug 2007

    Gordon Brown wants to encourage long-term fixed rate deals, bringing stability to the housing market, but UK borrowers seem reluctant to embrace them, says Frank Eve

  • A shrewd move for stressed parents

    13 Aug 2007

    A colleague of mine just pointed out that there are only 134 days until Christmas. It won't be long before Woolworths is selling tinsel. A depressing enough thought for anyone enjoying a normal summer but what about those of us yet to see a glimmer of sunshine? As we move into the last few weeks of summer, we're right in the middle of the prime time for moving home.

  • Ad agencies need clients' guidance

    13 Aug 2007

    Financial services firms spend more on advertising than food and beverage companies, but post-Mortgage Day, the industry must educate creatives to get the best results, says Kate Huet

  • Adapting homes for disabled people

    13 Aug 2007

    Continuing my look at the question of local authority grants and the requirement to consider eligibility for these, it is worth having a look at the help that is available.

  • Adding another string to your bow

    13 Aug 2007

    Secured loans is a growing sector with a cleaned-up image and mortgage brokers are in an ideal position to include them in their portfolio of products and services, says Sally Laker

  • Additional qualifications would benefit brokers

    13 Aug 2007

    The Financial Services Authority has undertaken a comprehensive review of its training and competence regime. The result should be a shorter, simpler and more principles-based T&C Handbook.

  • Advice still needed despite bad news

    14 Aug 2007

    This week's news from the Bank of England that interest rates will have to hit 6% by the end of the year to achieve the government's inflation target took few by surprise.

  • AHM broken by fears of sub-prime monster

    13 Aug 2007

    If you're wondering why American Home Mortgage, the 10th-largest residential lender in the US, went bust two weeks ago, welcome to the club.

  • AMI members' failure to re-elect Boulger is baffling

    13 Aug 2007

    I was astonished to read that Ray Boulger, senior technical manager at John Charcol, has not been re-elected to the Association of Mortgage Intermediaries' board.

  • Are lenders to blame for repossessions or are borrowers at fault?

    13 Aug 2007

    Robin Pritchard, 36, florist

  • Assetz launches India division

    14 Aug 2007

    Assetz has opened a India division offering investment opportunities in individual properties and real estate funds.

  • Astra and Trigold offer dinner at Claridge's

    17 Aug 2007

    Astra Mortgages is offering brokers the chance to win dinner at Claridge's by submitting buy-to-let applications through Trigold.

  • B&W launches core fixed range

    13 Aug 2007

    Bristol & West Mortgages has launched a core product range including a two-year fixed rate at 5.69% with a 1.5% fee and a 6.05% rate with a £699 fee. There are no higher lending charges up to 95% LTV. It also has three-year fixed rates from 5.85% and five-year rates from 5.99% available. The lender has reduced rates on its self-cert, professional, equity release and buy-to-let ranges.

  • Base rate could hit 6.25% in 2007

    13 Aug 2007

    In its latest economic bulletin, the Association of Mortgage Intermediaries warns that the Bank of England base rate could hit 6.25% by the end of the year.

  • BDM of the Week

    13 Aug 2007

    Name: Michael JonesAge: 27

  • BM Solutions knocked off B2L top spot by MEX

    14 Aug 2007

    BM Solutions was knocked off the buy-to-let top spot in the first half of 2007 by Mortgage Express.

  • BoS reduces selected BTL products

    14 Aug 2007

    Bank of Scotland has reduced the rates on selected buy-to-let products.

  • Brand round-up

    13 Aug 2007

    Branding has come a long way since the 19th century and brokers who ignore it do so at their peril, as a strong brand name is a vital business asset, says Matt Smith

  • Bright Finance appoints director of partnerships

    13 Aug 2007

    Bright Finance has appointed Jane Gardner as director of partnerships. Gardner will be responsible for increasing the company’s business in the South of the UK. She joins Bright Finance after being operations manager for London Scottish Broking, part of London Scottish Bank, where she ran the day-to-day unsecured loans operation. Gardener says: “I have worked in the finance, banking and insurance industry for the last 20 years.

  • British Insurance and NU launch MPPI

    13 Aug 2007

    British Insurance has launched a mortgage payment protection insurance policy in collaboration with Norwich Union. Sold by British Insurance, the British Mortgage Insurance policy will be underwritten by Norwich Union and administered by Paymentshield. Disability cover and unemployment cover are both available independently for £1.95 per £100 of cover, while insurance for both eventualities is £2.95 per £100 of cover. This insurance is level rated and underwriting ...

  • Brokers need fast-track clarification

    13 Aug 2007

    The confusion surrounding fast-track applications could lead to an industry scandal so it's time for lenders to provide more guidance on the matter, says Justine Tomlinson

  • BTL borrowing at record levels

    14 Aug 2007

    Borrowers took out 171,800 new buy-to-let mortgages, worth a staggering£21.2bn in the first half of 2007, data from the Council of Mortgage Lenders reveals.

  • Buildloan increases Amber and Accord self-cert limits

    13 Aug 2007

    BuildLoan is increasing its maximum self-cert limits with two of its lenders, Amber and Accord.

  • c2 launches sub-prime range from Kensington

    13 Aug 2007

    c2-financial has launched a range of fixed rate products for every type of sub-prime borrower from near prime to high adverse.

  • Case of bubbly won for guessing CML's gross lending

    15 Aug 2007

    Kevin McDonagh, chief executive of IN Partnership network, has won a case of champagne after predicting the Council of Mortgage Lenders’ half-year gross lending figures, three months before they were released.

  • Chelsea should be thanked for honesty

    13 Aug 2007

    I see Chelsea took a bit of stick recently. A somewhat lurid and sensational headline in a financial magazine gave it abuse over the fact that it's apparently reviewing its notice policy over product withdrawal. Welcome to the real world. Societies aren't charities or immune from commercial reality.

  • Chinese housing market worse than US, warns expert

    13 Aug 2007

    A Chinese banking and finance expert has warned that the quality of Chinese home loans is worse than in the US.

  • Clarion Events unveils plans to improve Expo

    13 Aug 2007

    THE Mortgage Business Expo has unveiled an action plan of improvements to its show.

  • Click puts record year down to lead conversions

    17 Aug 2007

    Click has almost doubled its yearly turnover for the past trading year with £20m of business processed during 2006/07.

  • Clients put at risk of identity fraud

    13 Aug 2007

    Mortgage brokers and lenders are putting clients at risk of identity fraud, a compliance consultant warns.

  • CML warns of fraud in new build valuations

    14 Aug 2007

    The Council of Mortgage Lenders has admitted there are clearly cases of fraud in disclosing to lenders the true price paid on new build properties including sales incentives and cashback schemes.

  • CMS to package TFC commercial products

    16 Aug 2007

    TFC Homeloans has revealed that Commercial Mortgage Solutions will now package of commercial mortgages to its introducers.

  • Commerce Centre offers incentives

    13 Aug 2007

    The Commerce Centre has launched a range of introducer commission rates for commercial and bridging finance enquiries. It is paying 0.55% for prime commercial and bridging finance and up to 1.5% for sub-prime commercial loans.

  • Commercial First available to Trigold users

    14 Aug 2007

    Trigold and Commercial First have teamed to offer commercial mortgage products and services to Trigold users. Available through specialist partner, Commercialmortgages 4 U, the service offers a packaging or referral service for all intermediaries and financial advisers looking to explore the business potential of the commercial mortgage market. Bill Safran, chief executive officer of Trigold, says: “The commercial mortgage sector has grown significantly over the last ...

  • Commercial First available to Trigold users

    14 Aug 2007

    Trigold and Commercial First have teamed to offer commercial mortgage products and services to Trigold users. Available through specialist partner, Commercialmortgages4u, the service offers a packaging or referral service for all intermediaries and financial advisers looking to explore the business potential of the commercial mortgage market. Bill Safran, chief executive officer of Trigold says: “The commercial mortgage sector has grown significantly over the last few ...

  • Commercial First boss to help GEMHL's Nutley launch new venture

    15 Aug 2007

    Philip George, managing director of Commercial First has revealed he is offering a helping hand to Julian Nutley, who recently announced he is leaving GE Money Home Lending as director of secured lending.

  • Commission gets SBPP's backing

    13 Aug 2007

    The second half of the Smaller Businesses Practitioner Panel's annual report will please brokers as it stands up for existing renumeration methods and rules, not codes of practice, says Bill Warren

  • Complete offers free legals on sub-prime deals

    16 Aug 2007

    Complete Mortgage and Loan Services is offering free legal fees on almost all sub-prime remortgage schemes.

  • Compliance can protect brokers from PPI claims

    13 Aug 2007

    It looks likely that payment protection insurance will be the next big industry scandal and hysteria about the subject is already gathering in the national media.

  • Consultancy warns employees not to lose face on Facebook

    14 Aug 2007

    A media consultancy has warned press officers to mind what they post on social networking sites like Facebook, following a spate of employees from diverse sectors losing their jobs over postings on such sites.

  • Consumers predict slower house price growth

    16 Aug 2007

    The majority of buyers and sellers predict house prices to rise by 5% over the next year, the latest index from Propertyfinder.com reveals.

  • Cornell named new Hamptons MD

    17 Aug 2007

    Jonathan Cornell has been named as the new managing director of Hamptons Mortgages, replacing Kevin Duffy.

  • Coventry launches six new products

    14 Aug 2007

    From August 16 Coventry will be offering six new fixed rates starting at 5.85% and including an offset proposition.

  • Credit crunch fears are mostly scare stories

    13 Aug 2007

    It's been all over the papers for weeks - the fear of a global liquidity squeeze.

  • CurriculumVitae: Martin Wade

    13 Aug 2007

    "Sailing a yacht in any sunny destination."

  • Customers still being hit by HLCs

    13 Aug 2007

    More than seven in 10 lenders are hitting mortgage customers who have small deposits with higher lending charges, analysis from mform.co.uk reveals. The online mortgage company also says that the top 20 lenders are less likely to impose HLCs.

  • DB Mortgages unveils changes to sub-prime range

    16 Aug 2007

    DB mortgages has unveiled its new sub-prime range which will be re-launched on August 20.

  • Dear Delia

    13 Aug 2007

    Dear Delia, Sam has been a self-employed plumber for the past four years. In that time, he has earned about £40,000 a year. His current three-year fixed rate deal comes to an end in the next month and he is looking to remortgage. Sam does not want to fix for as long as three years this time in case interest rates fall in 2008. What are his options?

  • Duo win magic Persian carpets courtesy of edeus and Mortgage Strategy

    13 Aug 2007

    Mortgage Strategy and edeus have named the winners of two silk Persian rugs worth £10,000 each - Mike Hughes, chief executive officer at Burns-Anderson, and Roderick Strachan, a senior consultant at mortgageforce.

  • Eddie Smith swaps AMPD for PMPA

    13 Aug 2007

    Eddie Smith, director of operations at the Association of Mortgage Packagers and Distributers, has switched allegiance and joined the Professional Mortgage Packagers Alliance as managing director.

  • Enterprise Finance reports 100% increase in turnover

    16 Aug 2007

    Enterprise Finance has announced an increase in turnover of more than 100% for the first half of 2007 from last year.

  • e-surv reports rise in repossessions

    13 Aug 2007

    e.surv has confirmed that it has seen a significant rise in repossession valuations in the last 12 months, with requests for post possession valuations from lenders up by 62% in July 2007 compared to July 2006.

  • Exclusive: Bolton predicts 40% drop in sub-prime

    14 Aug 2007

    Edeus chief executive Michael Bolton has predicted a 40% drop in sub-prime volumes across the board over the next 12 months and thinks there could be even worse to come.

  • Facebook underwriter faces trouble

    13 Aug 2007

    A mortgage underwriter has put his job in jeopardy after setting up a Facebook group to "vent spleen" about the industry.

  • First term of Prust's gardening leave ends

    13 Aug 2007

    John Prust has officially ended the first part of his gardening leave from Lehman Brothers and is now contact-able by the industry.

  • Free conveyancing services offered with remortgages are not up to scratch

    13 Aug 2007

    From Roger Marsh

  • FSA should kick some sub-prime ass

    13 Aug 2007

    The impact on world stock markets of the time bomb represented by $100bn of sub-prime mortgage losses for US len-ders and their customers worldwide has suddenly but belatedly focussed regulatory attention on lending to people who can't afford to borrow.

  • FTBs turn to family over brokers for advice

    13 Aug 2007

    Almost a quarter of home owners turned to friends and family for advice rather than a broker when they bought their first house, says Abbey.

  • Fuel clarification

    13 Aug 2007

    Fuel Investments would like to make it clear that from September 1 all its sub-prime business will be placed with Personal Touch Packaging, not all its business as reported by Mortgage Strategy on August 6 2007.

  • G&G to cull BDMs in big broker service revamp

    13 Aug 2007

    Cheltenham & Gloucester has revealed that it will fundamentally change its service to brokers by slashing 16 BDM positions.

  • GEMHL caps LTV at 95% on First National products

    17 Aug 2007

    GE Money Home Lending will be capping its LTV at 95% across all products through the First National brand in response to market turbulence.

  • GMAC-RFC always looks for ways to enhance its service

    13 Aug 2007

    I'd like to address the concerns expressed in the letter from Anne Clarke of MCA Financial Services in last week's issue of Mortgage Strategy.

  • GMAC-RFC denies US wobble

    15 Aug 2007

    GMAC-RFC has denied its sub-prime repricing is a result of the continuing instability in the credit markets thanks to the US sub-prime crash.

  • GMAC-RFC sponsors Network Data draw

    14 Aug 2007

    GMAC-RFC Partners sponsored a draw with Network Data for a pair of tickets to the community shield event at Wembley last weekend. Network Data appointed representative Tim Rogers from Flightpath Finance, was the lucky winner and enjoyed a fabulous day out at the new Wembley Stadium. Rogers says: “GMAC-RFC is fantastic, and it is so easy to use especially through Network Data. I like the fact it is a yes or no system with no messing around saving me time.” Jacci ...

  • Graduates leaving uni with £13,500 debt

    13 Aug 2007

    The latest research from Barclays and the Association of Investment Trust Companies reveal that students are taking on more levels of debt than ever leaving university with an average of £13,500 debt.

  • HBOS' Higgins heads for exit

    13 Aug 2007

    A major reshuffle at lending giant HBOS will see the end of Benny Higgins' reign as chief executive of retail, prompting speculation that he is a scapegoat for the lender's poor performance earlier this year.

  • Headline-hunters can distort the true picture

    13 Aug 2007

    Headline-grabbing statistics are worrying. Newspaper editors get turned on by big numbers which can mean that only the most dramatic predictions get attention.

  • Hillier leaves MEX for Partnership

    13 Aug 2007

    Roger Hillier, formerly product development manager at Mortgage Express, has been poached by lifetime mortgage provider, Partnership. He took up his position as head of equity release and protection product development last week. Other recent departures from MEX include Adrian Scott and Lee Tucker, who both left for Heritable Bank.

  • HIP conflict of interest exposed

    13 Aug 2007

    The National Audit Office has exposed irregularities in the Department for Communities and Local Government. Its inquiry intotwo HIP inspector accreditation consultants, Christopher Legrand and Richard Theobald, discovered a conflict of interest. The men had shares in National Energy Services, the parent company of Surveyors and Valuers Accreditation, one of the firms vying to provide home inspector accreditation certificates. The DCLG terminated the men's contracts in November 2006, ...

  • HIPs for three-bed homes to come in on September 10

    17 Aug 2007

    The Department for Communities and Local Government has today announced the rollout of Home Information Pack legislation for three-bedroom properties from September 10.

  • HIPs may include guarantees

    13 Aug 2007

    The Association of Home Information Pack Providers has revealed that there's scope for lenders to add 'mortgagability' seals to all Home Information Packs.

  • Home of Choice stubs out loaded premiums

    13 Aug 2007

    Home of Choice has backed Mortgage Strategy's Stub Out Commission Loaded Premiums campaign and has scrapped such premiums on the life insurance it sells alongside its mortgage products.

  • House price inflation 12.1% in June, says DCLG

    13 Aug 2007

    The Department for Communities and Local Government says UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007.

  • Housing market weakening further, says RICS

    14 Aug 2007

    The Royal Institute of Chartered Surveyors has revealed a drop in new buyer rates as well as an increase in empty housing stock.

  • How to win on the virtual battlefield

    13 Aug 2007

    Technology is at the forefront of everyone's minds at the moment, with lenders, brokers, networks and packagers trying to develop the ultimate online system.

  • IFS launches broker training course

    16 Aug 2007

    Instant Financial Services is branching out into helping potential mortgage advisors pass their CeMap course.

  • Immigrants fuel BTL market

    14 Aug 2007

    The rise in immigration is driving demand for rental property, according to research from Paragon Mortgages.

  • Inflation drops to 1.9% in July

    14 Aug 2007

    The Consumer Price Index fell below the government's inflation target in July to 1.9%.

  • Investors opt for B2L to keep control of assets

    17 Aug 2007

    Investors are opting for buy-to-let over other forms of investment to retain greater control, says Mortgage Trust.

  • JRS and Cambridge partner to give equity advice

    13 Aug 2007

    Just Retirement Solutions has entered into a three year arrangement with Cambridge to offer advice on equity release to its customers.

  • Judgement day for guilty brokers

    13 Aug 2007

    FSA action against three brokerages shows that the compliance message is not getting through as it should, and the regulator is right to make an example of the offenders, says Rob Griffiths

  • June saw lowest seasonal FTB numbers since 2004

    14 Aug 2007

    The number of first-time buyers in June was at its worst seasonal low since 2004, the latest data from the Council of Mortgage Lenders has shown.

  • Keeping the roof over families' heads

    13 Aug 2007

    Home repossessions have been in the news again recently. According to the Council of Mortgage Lenders, the number of people having their homes repossessed has surged in the first half of 2007.

  • Keeping up with the mortgage jet set

    13 Aug 2007

    I have decided to jazz up my working style to keep pace with the beautiful people in the industry and know readers will want to hear about my life among the celebs, says Mark Harris

  • Kensington launches near-prime exclusives through PMS

    17 Aug 2007

    Kensington has launched exclusive near-prime products through Premier Mortgage Service.

  • Kensington to up core adverse range by 0.55%

    17 Aug 2007

    Kensington Mortgages has revealed that as of close of play next Thursday (August 23) its core adverse range will increase by 0.55%.The lender has blamed the rise on "significant increases in LIBOR" which it says all banks are now feeling the effects of.The repriced range is out on Friday August 24 and existing rates will be available until the end of play on Thursday August 23.A spokesman says: "There will be no period where Kensington's products are unavailable."

  • L&G launches B2L fixed rate with Platform

    13 Aug 2007

    Legal & General mortgage club has launched an exclusive three-year buy-to-let fixed rate mortgage funded by Platform.

  • L&G launches exclusive B2L tracker with TMB

    16 Aug 2007

    Legal & General Mortgage Club has launched a pair of exclusive, buy-to-let, two year tracker mortgages funded by The Mortgage Business.

  • Lenders' email fears are misplaced

    13 Aug 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

  • Lenders maintaining service standards, says mform

    14 Aug 2007

    Lenders are maintaining their service standards despite high demand following the interest rate rises this year, data from mfrom.co.uk shows.

  • Lenders should keep it simple

    13 Aug 2007

    Life would be simpler if lending groups combined under one brand, as Nationwide seems to be doing. Shame, then, that it has paid our proc fee to the wrong broker, says Sue Read

  • Lenders should keep it simple

    13 Aug 2007

    Life would be simpler if lending groups combined under one brand, as Nationwide seems to be doing. Shame, then, that it has paid our proc fee to the wrong broker, says Sue Read

  • Lenders unveil 25-year fixed deals

    13 Aug 2007

    London & Country and Norwich and Peterborough both launched 25-year fixed rate mortgages last week.

  • Lifetime job at Newcastle

    13 Aug 2007

    The Newcastle has appointed John Digman as head of lifetime mortgages. He joins from Wesleyan Medical Sickness, where he was development manager.

  • London prices as high as £2,866 per square foot

    13 Aug 2007

    Hamptons International has launched a new ‘Heat Map’ tracking residential hot-spots and investment areas across London.

  • Long-term deals could fail to catch on

    13 Aug 2007

    It seems lenders are queuing up to offer 25-year mortgages following the government's announcement that it sees them as the way forward for the market. But you've got to feel sorry for Professor David Miles, who spent months producing his report on long-term mortgages a few years ago only to see it largely ignored by the government and the industry.

  • Long-term fixes represent mis-selling risk, says AToM

    13 Aug 2007

    All Types of Mortgages has warned that 25-year fixed rates could result in mis-selling allegations in the future if redemption penalties are not thoroughly revised.

  • Long-term fixes should follow US model, says Beacon

    14 Aug 2007

    Long-term 25-year fixed rates should follow the US model and allow borrowers to take advantage of interest rate cuts, says Beacon Mortgages.

  • Marketwatch

    13 Aug 2007

    It was great to see swaps continuing to fall even if it was at a slightly slower rate than we've seen of late.

  • MBSL acquires PMP

    14 Aug 2007

    Mortgage Broking Services has acquired Professional Mortgage Partnerships to create what it says will be the 4th largest mortgage network in the UK.

  • Me & My Car

    13 Aug 2007

    With most new cars the enjoyment factor wears off soon after you've purchased it, but having driven the BMW 335i coupe for several months I'm still excited by it, says Ellis Sher

  • MEX joins FMO lender panel

    13 Aug 2007

    Mortgage Express has joined First Mortgage Options’s packaged lender panel as its 20th lender.

  • Moneynet urges lenders to introduce interest-only reviews

    16 Aug 2007

    Moneynet.co.uk has urged lenders to introduce a regular review of interest-only loans, which it warns could be a ticking time bomb for many borrowers.

  • Mortgage Times hooks up with Debt Advice Portal

    14 Aug 2007

    The Mortgage Times Group has linked up with the Debt Advice Portal to offer brokers debt solutions for their clients.

  • MPC all say hold

    15 Aug 2007

    Policymakers at the Bank of England voted unanimously to hold UK interest rates at 5.75% earlier this month, the latest minutes from the Monetary Policy Committee have revealed.

  • MPLC raises rates as US crisis hits home

    14 Aug 2007

    Mortgages PLC has revealed it has had to raise its rates as a result of the recent market fallout due to the US sub-prime crash.

  • MT teams up with Viva Costa

    13 Aug 2007

    The Mortgage Times Group has is offering its members the ability to provide clients with lending up to 90% of valuation for house purchase in Spain, in conjunction with Viva Costa International Mortgage.

  • Multi-AVM system to launch

    13 Aug 2007

    UKValuation is planning to launch an automated valuation model aggregator known as Vector in the next six months.

  • Nationwide hunts for sales director

    13 Aug 2007

    Nationwide says it is scouring the market for a sales director to cement its place in the broker market.

  • New CeFA and CeMAP study site

    13 Aug 2007

    Ifs School of Finance has launched a website to help students on Certificate for Financial Advisers and Certificate in Mortgage Advice & Practice courses.

  • NR shares sink 25% in two months

    15 Aug 2007

    Northern Rock shares have sunk 25% in two months which pundits say could signal trouble at the lender bank.

  • Ocean Finance contemplates no longer selling lenders' PPI

    17 Aug 2007

    Ocean Finance has asked lenders to consider a revised business model, where it will no longer sell their Payment Protection Insurance.

  • Only Loans partners with Sycamore

    15 Aug 2007

    Only Loans has partnered with Sycamore to provide secured loan deals.

  • Out of the ordinary

    13 Aug 2007

    Demand for unusual homes has been boosted by TV programmes such as Grand Designs so brokers need to know how such properties can be funded, says Christine Toner

  • Packager Power

    13 Aug 2007

    Chancellor Alistair Darling has been urging lenders to offer 25-year fixed rates to stabilise repayments for borrowers. How popular will long-term fixes become and what impact will they have on the mortgage market?

  • Patrick Day new MD of Freehold packager association

    17 Aug 2007

    Patrick Day, former managing director of Exclusive Connections, has been appointed managing director of Freehold packager association.

  • Pink launches exclusive edeus B2L fixed

    14 Aug 2007

    Pink Home Loans has launched an exclusive buy-to-let fixed rate funded by edeus.

  • Pink launches near prime range from Platform

    13 Aug 2007

    Pink Home Loans has launched a Platform-funded range of almost prime fixed rates to its appointed representative and directly authorised intermediaries.

  • Pink unveils online claim form for ARs

    13 Aug 2007

    Pink Home Loans has launched a 24-hour online payment claim form for its appointed representatives. This means ARs no longer have to request payments by fax. Commission payments will be generated directly from entries submitted on Pink's online new business register.

  • PMS spells it out to rival mortgage firms

    13 Aug 2007

    Premier Mortgage Service put paid to anyone attempting to piggyback on its brand last week after it secured the trademark PMS.

  • Portman dismisses equity release as "dead horse"

    16 Aug 2007

    Portman has revealed it dropped its equity release offering because it has better things to do than "flog a dead horse".

  • Position your HIP for local market

    13 Aug 2007

    Home Information Packs are now a reality and, hopefully, are also part of your product offering. If not, I hope they will be, because they will be one of the easiest sales you make. Clients with houses of four bedrooms or more must have a HIP and smaller properties will be included as soon as there are sufficient numbers of qualified home inspectors available.

  • Positive Lending appointed member of AFB

    16 Aug 2007

    Secured loan packager Positive Lending has been appointed a member of the Association of Finance Brokers.

  • Positive toolbox relaunched

    13 Aug 2007

    Positive Lending has relaunched its free marketing toolbox, which offers templates, leaflets and advertisements to brokers. It is aimed at smaller firms and also provides them with a website template to promote its product range to customers.

  • Prestbury one of Kensington's top 15 packagers

    15 Aug 2007

    Prestbury has been named as one of Kensington Mortgage Company’s top 15 packagers.

  • Prestige appoints head of broker relations

    16 Aug 2007

    Sharron Jones is to leave Southern Pacific Personal Loans as trainingmanager and will be joining Prestige Finance, in the newly created role ofhead of broker relations.

  • Property firm fined £10,500

    13 Aug 2007

    Mortgage Strategy would like to clarify that the firm fined £10,500 by the Financial Services Authority as reported in last week's issue was Council Homebuyers (Midlands & North) and not Council Homebuyers, which is an unrelated company.

  • Property site angered by ASA claim rejection

    13 Aug 2007

    Propertyfinder.com has attacked the Advertising Standards Authority after the regulator threw out a case made by the property portal against a rival website.

  • PTFS roadshows for ARs and DA brokers

    13 Aug 2007

    Personal Touch Financial Services is to hold a series of roadshows for di-rectly authorised brokers and appoint-ed representatives.

  • RBS wary of broker channel

    13 Aug 2007

    The Royal Bank of Scotland revealed it is taking a cautious approach to the broker market in its interim results statement last week. Sir Fred Goodwin, chief executive of RBS, says the bank has reduced business volumes in the sector because it does not think the returns are worth the costs and risks involved.

  • Remortgage to pay school fees, says Charcol.co.uk

    14 Aug 2007

    Charcol.co.uk is urging parents to take advantage of house price growth and remortgage to help pay their children’s school fees.

  • Renting is becoming more acceptable

    13 Aug 2007

    A recent report from the Royal Institution of Chartered Surveyors revealed that in Q1 this year, only 16% of surveyors saw a rise in de-mand for rented property against 28% in October 2006. This was backed up by the British Bankers' Association, which reported a lower amount of buy-to-let applications despite the increase in approvals overall.

  • ResCap downgraded to junk bond status

    17 Aug 2007

    Residential Capital Corporation, GMAC-RFC's American parent company, was yesterday downgraded to junk status by Moody's Investors Service and Fitch Ratings.

  • Results show lenders' focus on asset quality

    13 Aug 2007

    The major banks have released their financial results for the first six months of 2007 and they make for interesting reading, not least when it comes to the mortgage sector.

  • RICS slams rollout of HIPs to three-bed homes

    17 Aug 2007

    The Royal Institution of Chartered Surveyors has slammed the government’s decision to push ahead with Home Information Packs for three-bedroom properties without conducting a proper market impact study.

  • Rupert Clarke appoints chair of the Earl Shilton

    14 Aug 2007

    Rupert Clarke has been appointed as chairman of the Earl Shilton.

  • Salt launches B2L LIBOR tracker

    13 Aug 2007

    Salt has launched a three-year Swiss LIBOR tracker buy-to-let product. It has a rate of 5.09% up to a maximum 85% LTV, plus a tiered rental calculation.

  • Salt offers fixed rates for multiple incomes

    13 Aug 2007

    Salt has launched two and three-year fixed rate mortgages for multiple borrowers.

  • Seize the initiative on 25-year deals

    13 Aug 2007

    The government has often tried to encourage Brits to change their spending, saving and borrowing habits. Now it wants us to save more into pensions with a new state-sponsored scheme in 2012, speed up the house-buying process with Home Information Packs, save more for our children with Child Trust Funds and borrow long-term, rather than taking out short-term cheap deals. But not one of these has worked - or looks set to work anytime soon.

  • Sharing data is well worth the effort

    13 Aug 2007

    It is hugely disappointing that no-one knows how many properties were repossessed between 2003 and 2006. The Council of Mortgage Lenders has revised its data for the period to include an additional 5,700 possessions - an increase of around 33% on the original estimate.

  • Social housing focus may be problematic

    13 Aug 2007

    The average house will cost 300,000 by 2012, according to a recent report by the National Housing Federation. This represents a 40% increase on current levels.

  • Society appoints director

    13 Aug 2007

    Stroud & Swindon has appointed Glyn Smith as a non-executive director. He will officially join on September 1 and has over 25 years' experience in financial services as a chartered accountant, with six years spent as finance director of Portman.

  • Soft PI market should be taken advantage of, says PYV

    16 Aug 2007

    The emergence of professional indemnity policies with longer policy periods could be a sign that the PI market is reaching the bottom of the cycle, it has been suggested.

  • Standard Life rejigs B2L range

    13 Aug 2007

    Standard Life Bank is offering free legals and dropping valuation fees on its Freestyle buy-to-let remortgage range.the Council of Mortgage Lenders recently revealed that repossessions rocketed by 30% in the first half of 2007 compared with the same period last year. It also showed that the number of mortgages three months or more in arrears rose to an estimated 125,100, up 4% compared with the end of December.So, this week Mortgage Strategy asks…

  • Swift appoints regional account manager

    13 Aug 2007

    Swift Group has appointed Laura Burns as regional account manager for Scotland and Northern Ireland.

  • TFC drops rates on sub-primes

    14 Aug 2007

    TFC Homeloans is distributing a range of semi-exclusive products funded by Kensington.

  • This Week's Dilemma

    13 Aug 2007

    I own a medium-sized packaging firm and we are not members of a packager association. I have always valued our independence and can't spare the time for the meetings and administration that belonging to an association might entail. But it's clear that I am losing business from some of my regular brokers to packagers that can offer exclusive products by virtue of their association membership. If I want to join an association now, how do I go about it and which one should I go for?

  • Thomson local launches price comparison site

    14 Aug 2007

    Thomson Local has launched a price comparison website.

  • Time to face up to repossession crisis

    13 Aug 2007

    It is high time many in the mortgage industry - particularly in the sub-prime market - removed their heads from the sand. Rising repossessions threaten to force thousands of families into the financial abyss.

  • Title Deed: Grovelawn

    13 Aug 2007

    In January 2004, James Hewson, managing director of Grovelawn, was looking for a name for his new business, which comprised a group of financial websites generating leads for mortgages and loan enquiries.

  • Tories could scrap IHT

    17 Aug 2007

    The Conservative Party has been urged by one of its think tanks to scrap Inheritance Tax if it voted into power at the next general election.

  • Tory MP unveils pension pot to fund property

    14 Aug 2007

    John Redwood, Conservative MP for Wokingham, is set to make public a new plan to provide alternative income strategies to pensioners.

  • UK feels sub-prime pinch

    13 Aug 2007

    further signs that the US sub-prime crisis is crossing the Atlantic were seen last week as Credit Suisse put a warning label on Northern Rock's latest residential mortgage-backed securitisation.

  • University towns saw 20% house price rise, says Halifax

    16 Aug 2007

    University towns saw house prices increase by 20% or more over the past year, research from Halifax Estate Agents has shown.

  • Victoria to raise sub-prime rates by 2.5%

    17 Aug 2007

    Victoria Mortgages has repriced its entire product range, with near-prime products rising by 1.25% and sub-prime products going up by 2.5%.

  • WestLB confirms US sub-prime exposure

    13 Aug 2007

    German bank WestLB, which along with Home Funding co-owns UK lender Basinghall Finance, has confirmed it has 1.25bn euros ($1.7bn) invested in US sub-prime securities.

  • What value if any do long-term fixed rates offer uk borrowers?

    13 Aug 2007

    Our experts are divided as one thinks 25-year deals offer certainty in an uncertain world, while the other believes they tie clients in for too long

  • White label HIP service for brokers

    13 Aug 2007

    Trustguard Credit Services has linked up with Propertypacks.com to offer Home Information Packs that brokers can brand with their own logos.

  • Women chose property over pensions and husbands

    14 Aug 2007

    A growing number of women are turning away from pensions and husbands to provide for their retirement and are instead looking at property to provide for their future, research from thePropertyInvestmentMarket.com reveals.

  • Woolwich slashes fixed rate to 5.89%

    13 Aug 2007

    Woolwich has cut the rate of its two-year fixed product by 30 basis points to 5.89%. The deal, which comes with free valuation and legal fees, is fixed until September 30 2009, after which it reverts to a lifetime tracker at 0.95% above base rate. It is available up to 80% LTV with an application fee of £995 and an early repayment charge of 3%.

  • Yorkshire and L&G take on IHT

    14 Aug 2007

    Yorkshire has launched a campaign to raise awareness to educate ordinary people about the trap of Inheritance Tax.

  • Yorkshire unveils new tracker range

    14 Aug 2007

    Yorkshire has launched a new range of tracker mortgages including capped trackers from 5.99%.

  • Zero-carbon homes are distant dream

    13 Aug 2007

    As the government makes proclamations about the need for zero-carbon homes, it is appropriate to look at what this type of house could achieve for its occupants and also question how realistic the goal is.

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