Mortgage Strategy
13 February 2006

  • 20 million consumers targeted by scammers

    17 Feb 2006

    Younger more affluent consumers are just as likely as older consumer to be targeted by scammers, new research by the Office of Fair Trading has revealed.

  • 44% Overpay on their mortgages

    13 Feb 2006

    Just 44% of borrowers make overpayments on their mortgages, reveals Moneyfacts.co.uk.It also says 14% of people plan to remortgage in the next 12 months to repay unsecured debt. Some 36% of consumers have transferred their card balance more than three times in search of 0% deals, and 31% have been penalised for late payments on credit cards.

  • 70% of buyers find house hunting stressful

    14 Feb 2006

    A recent survey from The Homebuyer Show reveals almost 70% of home buyers find buying a property very or extremely stressful with over 36% placing the fear of the chain falling through as their biggest concern. Chain-breaking was closely followed by finding the right property, which 17% found to be a time consuming process. Spiraling costs are also a cause for concern for 13.04%, including stamp duty and mortgage fees.

  • 74% Say lenders should relax over high earners

    13 Feb 2006

    An overwhelming 74% of Mortgage Strategy Online readers think lenders should relax criteria for high earning non-professionals.Lenders are split on the merits of offering professional products to non-professionals.Bank of Scotland argues it should make no difference but Accord says that while high earners are solvent, their earning power is fixed (see News, page 19).This week Mortgage Strategy asks: "After its SIPPs U-turn do you trust the government to stay the ...

  • A chance to review clients' finances

    13 Feb 2006

    The latest figures from the Council of Mortgage Lenders make scary reading. Repossessions jumped 70% between 2004 and 2005. But while this might lead to some alarming headlines in the consumer press, it's important to put it into context.

  • A handy guide to what the FSA wants

    13 Feb 2006

    The FSA's pocketbook for small firms is useful for brokers and means they need never be stumped by references to terms such as 'threshold conditions', says Bill Warren

  • Accord to cascade prime products

    13 Feb 2006

    Accord Mortgages is expanding its cascade system to cater for prime products after seeing a 500% increase in business from its Adverse Business Cascade.Accord launched its automated decision ABC system in January to help tailor borrowers' needs to the lender's product criteria.Will says on the back of the success of the ABC system, Accord is planning to implement it for prime products too.She says: "We saw business levels increase by 500% in just one week after the launch ...

  • Advantage offers bonus proc fee

    16 Feb 2006

    Following the fantastic response to its on-line premium offer, Advantage is now offering a bonus procuration fee of 1% on sub-prime new secured loans during February 2006.

  • Agency buyout

    13 Feb 2006

    Country house estate agent Humberts is to acquire Burrough and Company, with its offices in Hungerford and Newbury.

  • AHIPP says HIPs will survive reshuffle

    13 Feb 2006

    The Association of Home Information Pack Providers has played down rumours that HIPs could be under threat if Yvette Cooper is removed as housing minister.AHIPP says that despite the possibility of Cooper being moved in the next cabinet reshuffle, it is confident that HIPs will still be a priority for the government.Mike Ockenden, director-general of AHIPP, says: "It's highly unlikely there will be any change of direction by the government on HIPs, whether there is a change ...

  • AIFA supports Careers London initiatives

    14 Feb 2006

    The Association of Independent Financial Advisers is supporting two initiatives run by Careers London.

  • Amber apologises after computer bug causes chaos

    13 Feb 2006

    Amber Homeloans has apologised to members after a computer bug caused havoc with its email system.The bug hit Amber's system last Monday when Amber emailed everyone on its distribution list - approximately 120 packagers. Problems occurred when one of the emails was sent to a computer containing a bug, and the system started to send the same email out in its thousands.Although Amber reported the problem, its internal and external email went down for an hour on Tuesday after getting ...

  • AMI backs Pink plan to add value in sub-prime sector

    13 Feb 2006

    The Association of Mortgage Intermediaries has offered its support to Pink Home Loans' campaign for added value in the sub-prime market.As well as slashing its charges, at a London bash last week Pink out- lined plans to raise standards in the industry.While many packagers have been offering a 99 valuation service, it will now offer a maximum fee of 66. This is available on all adverse product ranges with its packaged partners including Amber Homeloans, First National, Freedom ...

  • An IT template for packager growth

    13 Feb 2006

    Technology provides a chance for packagers to turn themselves into sub-prime portals and offer added value that could be a template for the sector's growth, says Frank Eve

  • Anti-money laundering group welcomes Treasury guidance

    13 Feb 2006

    The Joint Money Laundering Steering Group has welcomed the announcement by the chancellor of the exchequer, Gordon Brown, of the Treasurys approval of the new JMLSG guidance for the financial services industry.

  • As professionals, we should, avoid this vebal brawling

    13 Feb 2006

    From John Rosenthal Is it my imagination or have there been more personal attacks in Mortgage Strategy's letters pages section over the past few months? I find it disturbing that instead of replying directly to someone's views and opinions some people deem it necessary to launch personal attacks on them instead. I have always found that if someone uses these type of tactics instead of applying good debating skills it is because of their inability to use their brain first ...

  • Automatic choice

    13 Feb 2006

    In this extract from Creator and Trader: A Vision for Growth in the UK Mortgage Market Stephen Knight explains GMAC-RFC's use of automation

  • Back-up saves the data

    13 Feb 2006

    Trigold's Auto Back-Up software system has been credited with saving the vital compliance and client data of a husband and wife brokerage after an office break-in two weeks ago.Auto Back-Up runs automatically when brokers use their Trigold systems. Mike Alexander, owner of Michael J Alexander, installed the software the moment it was made available three months ago. After a break-in in 2004, the firm knew the cost of not backing up information.Thieves took all the computers ...

  • BM Solutions wins John Charcol award for service

    13 Feb 2006

    BM Solutions has picked up the coveted title of 'Best Lender for Service' at the respected John Charcol awards. In addition BM also secured the title of 'Best Self cert lender'.

  • Bolton highlights packaging figures that suit his rant

    13 Feb 2006

    From Guy Garrard I'd missed Michael Bolton's weekly rants at the packager community. Just when I thought he'd gone back into his hole forever he reappears, barking mad as ever and spewing out the same old nonsense that year after year refuses to come to pass. Packagers are finished are they? For one moment I thought I'd been delivered a copy of Mortgage Strategy from 2003, 2004 or 2005. Having managed to stay awake through his sage words, I got to the part that says ...

  • Boost for Catalyst

    13 Feb 2006

    Zeus Capital Group has bought a controlling stake in bridging loan firm Catalyst Securities. This puts Catalyst in the top tier of bridging finance providers.

  • Borrowers still don't like long-term deals

    13 Feb 2006

    There has been a flurry of activity in the 10-year fixed rate market recently, with a number of lenders jockeying to have a market- leading product.

  • Bradford & Bingley reports strong growth in residential lending

    17 Feb 2006

    Bradford & Bingley has reported a strong lending performance in the second half of 2005 in its published prelim results.

  • Bradshaw to leave Abbey

    13 Feb 2006

    Paul Bradshaw, chief executive of insurance and asset management at Abbey, will leave the company at the end of February.Javier Maldonado, who has been a key figure in managing the integration of Abbey with Banco Santander and supporting chief executive Francisco G?-Rold? takes on Bradshaw's responsibilities.

  • Bright Grey kicks off presentation tour

    14 Feb 2006

    Bright Grey, the protection specialist arm of the Royal London Group, will be steering financial advisers towards positive messages and sales opportunities at a series of events that kick off this week.

  • Britannia reports "best-ever" lending figures for 2005

    17 Feb 2006

    Britannia, Britain's second biggest building society, has reported its best-ever lending figures and increased like-for-like profits for 2005.

  • Brokers can help the pragmatic romantics

    13 Feb 2006

    I am not a cynic, more a pragmatic romantic, but this is a cautionary Valentine's tale. Boy meets girl. They fall in love. The next step?

  • Brokers have a right to be fed up with estate agents' calls

    13 Feb 2006

    From Jason Simpson In response to the letter from Chris Shelton in Mortgage Strategy January 23, why haven't brokers got the right to be fed up with pushy estate agents pestering them about a client's mortgage application? The estate agent has no right to speak to a broker regarding the purchasers' mortgage application without the borrowers' explicit instruction. The broker is in breach of confidence by discussing the application with a third party. Brokers have enough work ...

  • Brokers must not ignore gay market

    13 Feb 2006

    It's that time of year again. Everyone is loved up one way or another and couples everywhere are celebrating Valentine's Day. Chocolates, flowers and candle-lit dinners are the order of the day. And for a lucky few it might even be topped off with that special engagement ring.

  • C&G brings back valuation fees

    13 Feb 2006

    Cheltenham & Gloucester has made changes to its product range by reintroducing valuation fees.The lender is bringing back valuation fees on some of its mortgage products to bring itself into line with the rest of the market.John Champion, intermediary sales director at C&G, says: "When we first withdrew the valuation fee it was the right thing to do."But most of the market has valuation fees now. Customers expect to pay a valuation fee when repurchasing."Consumers may ...

  • CETA calls for unbiased PPI recommendations

    16 Feb 2006

    CETA is calling for the Office of Fair Trading and Competition Commission not to be swayed by sensational headlines as they develop their recommendations for the future of payment protection insurance.

  • Chancellor reveals March 22 as Budget day

    16 Feb 2006

    The government has revealed chancellor Gordon Brown will make his Budget Report speech to the House of Commons on March 22 at 12.30pm.

  • Chase UK plans to buy packagers in 2006

    13 Feb 2006

    Chase UK is planning to acquire several packagers and IFA firms in 2006, having already expanded its secured loan business and signed an exclusive distribution deal with a multi-tie insurance network.Terry Pritchard, managing director of Chase UK, says the company has been approached by six small packagers looking to sell their businesses as well as several IFA firms and a loan company. He also says The Mortgage Times Group has agreed to act as an overfloat to secured loan business ...

  • Cheap homes sell out before permission is granted

    14 Feb 2006

    First-time buyers, eager to get a foot on the property ladder, queued for eight hours to secure a property on an affordable housing estate that developers havent even secured permission for yet.

  • Cheshire adds to its buy-to-let and self-cert ranges

    15 Feb 2006

    Cheshire is responding to the growing consumer demand for non-standard mortgages by extending its buy-to-let and self-cert product ranges to cater for the growing investment market and home-owners who may be self employed.

  • Cheval joins Mortgage Intelligence panel

    13 Feb 2006

    Cheval, the London based bridging finance lender, has joined the Mortgage Intelligence panel and will appear on its website.

  • CIFAS joins forces with credit reference firms to fight financial crime

    13 Feb 2006

    CIFAS and the credit reference agencies have declared their strong joint commitment to work, through a new framework, to fight financial crime.

  • City Residential acts as UK agent for The Prestige Group

    14 Feb 2006

    Property advisor City Residential has been chosen to act as an UK agent by The Prestige Group.

  • Club link to promote MPPI

    13 Feb 2006

    Mortgage Promotions has joined forces with Securah to promote mortgage payment protection products to its mortgage club members. Securah was created by Advent Solutions Management and Hitachi Capital in 2005.

  • Cluttons Private Finance considers commercial arm

    13 Feb 2006

    Cluttons Private Finance is considering opening a commercial mortgage arm in the near future.Commercial director James Rodea says introducing a separate commercial mortgage arm is on the cards alongside the possibility of continued residential growth.CPF's parent, estate agency Cluttons, already has a commercial property section. If plans for a commercial section go ahead, a specialist commercial mortgage broker will be brought in to work alongside Clutton's commercial dealers.Rodea ...

  • Clydesdale picks up 11 awards from John Charcol

    13 Feb 2006

    Clydesdale Bank picked up several awards at John Charcol mortgage awards ceremony on Friday 10.

  • CML unveils new mortgage data survey results

    15 Feb 2006

    The Council of Mortgage Lenders has published the first set of data from its regulated mortgage survey, which replaces the old survey of mortgage lenders.

  • Commercial sector more accessible

    13 Feb 2006

    Commercial finance, unlike residential mortgages, is not predominately scheme-based. The rates and terms available are not set in stone.

  • Correspondents should get their facts straight first

    13 Feb 2006

    From Chris Varney As a relative newcomer to Mortgage Strategy magazine, I have been impressed by the content and comment and I often enjoy the letters pages and appreciate the variety in them. Indeed your last issue (Mortgage Strategy February 6) carried the full retraction of comments made by Brian Rossiter about Richard Griffiths. I think it only right that the letter was published. Hopefully this will encourage all readers and contributors to arm themselves with the facts ...

  • Coulson promoted to CEO

    15 Feb 2006

    Richard Coulson, previously managing director at Home of Choice has been promoted to chief executive officer.

  • Curriculum Vitae - Nigel Stockton

    13 Feb 2006

    “I’m a fan of St.Emilion. But as long as it contains alcohol it will probably be OK

  • Dale Knight quits BBB to join Prestbury

    13 Feb 2006

    Dale Knight, previously head of mortgages at Berkley Berry Birch, has joined Prestbury as sales director (South).Prestbury CEO Lee Birkett says: "We have been searching for an individual of Dale's ability for nearly a year to fill this key role, the appointment of the sales director for the South is vital to the next stage of Prestbury's development. Knight's appointment provides an experienced development professional for the southern Prestbury practices and with Dale, we get the ...

  • Dear Delia

    13 Feb 2006

    Dear Delia First-time buyers John and Mel are looking to buy a new-build property in their home town. Each incurred a County Court judgement of 1,000 last year, which they have recently satisfied. Their combined income is 60,000 and while they have savings for the costs of moving, they have no deposit. What are their options?

  • Do you have a mortgage and if so, what do you think of it??

    13 Feb 2006

    Andrew Jones, 23, market stall worker - I don't have a mortgage and still live with my parents. Property is too expensive, especially in London, so there's no way I could afford to buy on my own at the moment. There are deals out there but you need to be earning more than I am to get somewhere half decent in a good location. I do want to buy my own place before I'm 30, so hopefully by the time I turn 28 I'll have saved enough to think about it seriously. But maybe that's just ...

  • eConveyancer and Openwork's partnership is a success

    16 Feb 2006

    eConveyancer reports it has generated more than 2500 quotes on behalf of Openwork advisers in just over six working weeks since the two companies started working together.

  • em-homeloans offers Right to Buy range with Rooftop Mortgages

    14 Feb 2006

    em-homeloans is offering a range of Right to Buy products in association with Rooftop Mortgages.

  • Equity system open to all

    13 Feb 2006

    Fintal, the equity release system system created by Ferret and the Council of Mortgage Lenders, is now available as a pay per use service called FintalPPC.The service allows advisers to get a same or next-day report for their customers which will give them an assessment of entitlement to means-tested benefits, plus reports and charts showing the impact of differing income or capital products on benefits and tax allowances.

  • Eric London wins in PMS and Freedom Lending promotion

    16 Feb 2006

    Eric London, who works for Liverpool based brokerage Robinson Insurance Services, is the lucky winner of an iPod Nano MP3 player, courtesy of specialist lender Freedom Lending.

  • Estate agents are most accident prone drivers, says Churchill

    14 Feb 2006

    Estate agents come top of the list of motorists with the worst accident records - closely followed by community nurses, chefs and doctors, says research by Churchill Car Insurance.

  • Estate agents' HIP manoeuvre

    13 Feb 2006

    Rightmove, Countrywide, Connells and Halifax estate agents have bought TM Property Service from its original investors.Ed Williams, group managing director of Rightmove, says: "As we prepare to enter the Home Information Pack market, integration with TM will provide a fast and robust service to our customers."

  • Exclusive: SHIP approves Partnership Home Loans

    16 Feb 2006

    Partnership Home Loans has revealed that its equity release product, which takes medical conditions into account, has been approved by the Safe Homes Income Plans group.

  • Fight dark forces

    13 Feb 2006

    Complaints about poor service, bad advice and perceived unfair charges can come back to haunt you but savvy brokers can protect themselves, says Martin Key

  • FMO adds Intelligent Protection to its insurer panel

    16 Feb 2006

    First Mortgage Options has added Intelligent Protection to its Insurer panel. This unique sales tool will make it easy for brokers to highlight and sell higher levels of protection cover than previously likely.

  • FMO adds to its lender panel

    13 Feb 2006

    First Mortgage Options is adding another insurer to its panel. Towergate Lifestyle will join CETA, Paymentshield and City Connexions on the panel, offering another option for brokers to access professional indemnity insurance, ASU cover and a range of building and contents insurance products from a single page on the FMO website.

  • FMO launches profit and risk analyser

    15 Feb 2006

    First Mortgage Options, the mortgage distribution and support services group, has launched a mortgage broker business analysis and risk assessment report service called profit and risk analyser.

  • FMS joins PMPA but gets no stake in Unity

    13 Feb 2006

    The Professional Mortgage Packagers Alliance says Finance and Mortgage Solutions has joined as its newest packager member with an equal voting right in the future of the alliance.But Jon O'Brien, operations director of PMPA, says the Hendon-based packager will not automatically be given a shareholding in Unity Homeloans, the lender set up exclusively for PMPA members.He says: "New members will have access to Unity but will need to show commitment before we issue any shareholding. ...

  • Follow the money

    13 Feb 2006

    Higher than average spending power and the change to civil partnership laws make the gay and lesbian community a lucrative market for brokers, says Mira Butterworth

  • Free seminars on TCF

    13 Feb 2006

    Mortgage Promotions is launching a series of free Treating Customers Fairly seminars along with specialist Compliance Consultants. The first seminar will be in Leicester on March 2.

  • FSA launches finance course

    13 Feb 2006

    The FSA has launched an e-learning package for small firmsto help themwork out what financial resources they need.The regulator requires firms to keep adequate resources and has designed this course to suit those with little or no accounting knowledge.

  • GE appointment

    13 Feb 2006

    GE Money Home Lending has appointed Paul McGerrigan as national sales manager for its first mortgages sales team. His priorities will be to build business volumes and develop products for small to medium-sized brokers and packagers.

  • GMAC-RFC enhances buy-to-let range

    14 Feb 2006

    Following research among its intermediaries, GMAC-RFC has made enhancements to its buy-to-let range.

  • GMAC's plan to split services praised

    13 Feb 2006

    Packagers have praised GMAC-RFC's decision to separate its broker and packager services.GMAC-RFC is working on plans to separate its product ranges for packagers and brokers although both divisions will remain under its brand.Roger Morris, managing director of em-financial, believes that in the past GMAC-RFC has not realised what a valuable role packagers play in the market, and says this plan is a welcome development.Morris says: "This is a brave move by GMAC-RFC, and honourable ...

  • Greens may pay less tax

    13 Feb 2006

    Home owners who dispose of large amounts of rubbish or do not ensure their properties are energy efficient could be penalised by higher Council Tax bills.The Treasury is considering a report commissioned by the Green Alliance which recommends an overhaul of the tax system to reward consumers who make green choices.The environmental think tank says measures to cut energy consumption will not work unless accompanied by tougher policy measures. It therefore proposes Council Tax ...

  • Greenspan will fret about exotic UK deals

    13 Feb 2006

    First the good news. Alan Greenspan, the man who steered the Federal Reserve for 18 years - quite mightily, many think - is one heck of a tennis player and he's ready for the clay courts that litter London like chicken pox.

  • HBOS departures could be scheduled flights

    13 Feb 2006

    With another senior figure departing HBOS last week, the UK's fourth largest bank is starting to look like the checkout lounge at Heathrow airport, with Andy Hornby - its new chief executive officer - hoping his plans for the business will have a smooth take-off.Ian Kerr, chief executive of retail banking at HBOS, announced his departure last week following others such as Grenville Turner, head of HBOS intermediary business.Although the industry gasped in shock as the news broke ...

  • HBOS may merge accounts

    13 Feb 2006

    Plans are afoot at HBOS to merge the key accounts departments of its five brands and create a centralised key accounts department.HBOS has confirmed it is looking into establishing a central key accounts team to lead businesses relationships and work across the group and the brands. But spokesman Paul Fincham says there are no immediate plans to implement this and that a central team doesn't necessarily mean dissolving the separate key account departments in the five ...

  • Helen Hymos heads back to the PMPA

    13 Feb 2006

    Helen Hymos, former head of AMF One Stop Mortgages - one of the 12 packagers that broke away from the Professional Mortgage Packagers Alliance - has returned to the PMPA as lender relationship manager.In the newly created position Hymos will report to Jon O'Brien, operation director at PMPA, and her role will be to analyse the market and maintain close relationships with the alliance's lender panel, with particular emphasis on creating competitive exclusive mortgage products for ...

  • Heritable reduces two-year fixed rates

    17 Feb 2006

    Heritable is reducing its two-year fixed rates for buy-to-let, self-cert, semi-commercial and status mortgages from Monday, and extending the end dates for these rates to May 1 2008.

  • High earners are losing out

    13 Feb 2006

    Lenders are being called on to relax their lending criteria on products for professionals and allow other high earners access to the same deals.Simon Bucknell, associate partner at Cobalt Capital, says problems often arise when high earners such as bankers are not given the same access to products that workers such as doctors are, because they are not classed as professionals.Although Bucknell has a number of clients doing well career-wise, they are not classed as professionals ...

  • HIP production agreement

    13 Feb 2006

    SearchFlow is to cooperate with mysalepack.com to provide the search content required for its Home Information Packs.

  • Homeowners need to prepare for periodics, says ELESCA

    15 Feb 2006

    The demand for Periodic Inspection and Testing is increasing, says ELESCA the scheme for Approved Document P of the Building Regulations. Many homeowners, estate agents and conveyancers are requiring them on a voluntary basis for inclusion into the Home Information Pack. When the HIP is made compulsory in 2007, this demand will increase further. ELECSA is urging everyone to remind homeowners of the need to prepare for this and to help each other in the electrical industry prepare ...

  • House prices on the rise, says RICS

    16 Feb 2006

    House prices have risen for the third consecutive month, reveals the latest housing market survey from the Royal Institution of Chartered Surveyors.

  • House purchase and remortgaging almost level, says CML research

    15 Feb 2006

    The Council of Mortgage Lenders has published the first set of data from its regulated mortgage survey, which replaces the survey of mortgage lenders. The RMS has around 90% of market coverage and provides much higher quality data than the SML.

  • Housing market on road to recovery says, SmartNewHomes

    14 Feb 2006

    The UK housing market is well on the road to recovery following the difficult months of 2005, says SmartNewHomes.com.

  • How to lighten the burden of ERCs

    13 Feb 2006

    In 2005 the unpopular thing in equity release was the extended periods over which early repayment charges are levied and the potential level of those charges. On paper, options are limited when clients are releasing a lump sum but there are ways to lighten the burden.

  • IAF moves to AIM

    17 Feb 2006

    Dealings are due to resume today in IAFs ordinary shares following the decision to move from the Official List to AIM.

  • I'd like to see a trading platform for GI products

    13 Feb 2006

    From Gary Williams As a fiercely independent mortgage adviser I can source the whole of the market easily enough with the software tools most intermediaries would recognise. With general insurance products I get a less satisfactory result. It is a lot more work for a lot less reward. So, I would like to know if there are any trading platforms or sourcing platforms out there that truly cover the whole of the market - not just enough to satisfy the Financial Services Authority ...

  • IF launches advertising campaign

    16 Feb 2006

    Intelligent Finance is launching an advertising campaign on Sunday February 19 using a family of illustrative characters to demonstrate the benefits of offset.

  • IFS to hold more TCF master classes

    14 Feb 2006

    Following the success of last years master class on the subject of Treating Customers Fairly, the Institute of Financial Services is running a further master class to examine how performance can be managed in a TCF environment.

  • IMLA sets out key themes for 2006

    15 Feb 2006

    The Intermediary Mortgage Lenders Association has identified four key themes for the organisation to concentrate on in 2006.

  • Inconsistent regulation is still with us after all these years

    13 Feb 2006

    From Harry Katz I have never been a devotee of mortgage payment protection insurance and looking at Mortgage Strategy over the past year or so it would appear that in general, regulators look askance at this product. Indeed, as you report, a survey by Paymentshield finds that the added burden of regulation is leading to a diminution in take-up of this policy. I find this odd in view of the fact that several years ago, the thrust of regulation was quite the opposite. Under ...

  • Increase in buy-to-let advances, says CML

    16 Feb 2006

    Buy-to-let lenders advanced a record 130,400 loans in the second half of last year, an increase of 39% over the preceding six months, data released by the Council of Mortgage Lenders has revealed.

  • Industry takes rate freeze in its stride

    13 Feb 2006

    The mortgage industry was unsurprised last week by the Bank of England's decision to hold interest rates at 4.5% for the seventh month in a row.Although some werehoping for an early cut in rates - largely based on the fact that January saw the weakest sales in the retail sector for over a decade - the reality is that no change is expected before this spring.Andrew Montlake, partner at Cobalt Capital, says: "The main thing preventing an imminent cut is that there are signs of ...

  • Interest in UK property market increases, says propertyfinder.com

    15 Feb 2006

    The latest propertyfinder.com research reveals a sharp rise in interest in UK property. The number of people searching for property on the site hit 1.1 million in January, up 54% compared to the same period in 2005, when the property market was languishing in the doldrums.

  • Intermediaries can cash in on HIPs

    13 Feb 2006

    Many brokers are worried about Home Information Packs but if they position themselves correctly in preparation, they could benefit from the development, says Richard Griffiths

  • Internet Insite

    13 Feb 2006

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Kevin Paterson takes a look at lender websites, working his way from A to Z.

  • Investment boom

    13 Feb 2006

    January saw a burst of activity in the property investment market with investors lured by strong rental yields of 6.5 to 9% in student and commercial property, says Assetz. The investment specialist has seen a staggering 90% increase in UK sales compared with average sales in the last quarter of 2005.

  • It's less fun when we can't speak our minds

    13 Feb 2006

    Even if Mortgage Strategy hadn't been voted the best mortgage publication of the year, you wouldn't want to miss out on receiving it, would you? The letters pages alone are worth the subscription. Aren't they a constant source of joy and pleasure?

  • It's time MS pulled the plug on Richard Griffiths' column

    13 Feb 2006

    From David Southern In response to your Star Letter last week, I am sure Brian Rossiter will be heartened to know that I too have issues with Richard Griffiths. Isn't it time a quality industry publication such as Mortgage Strategy pulled the plug on this man and devoted the column inches to something brokers actually want to read instead? I am sure his weekly column is avidly read by his network members but I for one find his backstabbing and advertorials quite tedious. ...

  • Jakie King joins TFC as BDM

    13 Feb 2006

    Jakie King has joined The Finance Centre as business development manager and will be covering London and the South East.

  • Just 15% of consumers know their financial worth

    15 Feb 2006

    Less than half of people know their overall financial worth and only 15% know where their savings are invested reveals research by Standard Life.

  • Kensington adds Mortgage Bureau to branded lenders network

    13 Feb 2006

    Kensington Mortgages has added the Mortgage Bureau UK to its growing network of branded lenders.

  • KGB poaches new partner from Mortgage Times

    14 Feb 2006

    KGB has revealed Magnus Duke, currently new business manager at Mortgage Times, is joining the packager as a business partner.

  • L&C launches two tracker deals

    15 Feb 2006

    London and Country, the no-fee mortgage broker, is launching two tracker deals with rates of 4.25% and 3.99%.

  • Landlord jailed for major tax fraud

    13 Feb 2006

    A Lichfield landlord has been jailed for two years at Stafford Crown Court after being convicted of a major tax fraud.

  • Landlords' investment confidence increases, says Mortgage Trust

    13 Feb 2006

    The latest survey from Mortgage Trust shows that landlords appetite for investment is reaching new highs.

  • Lenders must show us they care

    13 Feb 2006

    Lenders like to talk about how much they appreciate intermediaries but all too often you wouldn't know it when dealing their processing departments, says Sue Read

  • Let's boost standards in equity release

    13 Feb 2006

    Mortgage Strategy has joined forces with the Association of Mortgage Intermediaries to launch the Release it Right campaign to prompt the industry to raise standards in the equity release sector.This move comes as the Financial Services Authority starts its second round of mystery shopping in equity release, following disappointing results last year.In early 2005 the FSA conducted work on equity release and subsequent investment advice involving product providers, mortgage ...

  • London flat prices surge during January

    13 Feb 2006

    London estate agency Felicity J Lord reports flat prices have increased by an average of 0.7% in January across Canary Wharf, Shad Thames, Wapping and Bow.

  • London property prices up 2% since December

    16 Feb 2006

    The latest data from haart estate agents reveals the average London house price has increased by 2% as confidence returns to the London housing market.

  • MAB opens eight more branches

    13 Feb 2006

    Mortgage Advice Bureau has opened eight more mortgage shops across the country as part of its expansion strategy.The new shops are in Great Yarmouth in East Anglia, Hull in Yorkshire, Bedford, Kettering, Northampton in the Midlands, and Prenton, St Helens and Wallasey in the North-West.MAB plans to open 40 branches in 2006 in the belief that clients prefer to organise their mortgage with an adviser rather than over the internet.It currently operates through 250 estate agency ...

  • Mansfield's two-year fixed rate increases demand

    17 Feb 2006

    Mansfield has reported growing demand for its two-year fixed rate deal for home buyers and people looking to re-mortgage their home.

  • Market Harborough launches five-year tracker

    13 Feb 2006

    The Market Harborough has launched a five-year cracker tracker product at 0.25% over Bank of England Base Rate, currently 4.5%, giving a pay rate of 4.75% or 6.1% APR.

  • Market Harborough launches tracker products

    13 Feb 2006

    Market Harborough has launched a five-year Cracker Tracker product at just 0.25% over Bank base rate giving a pay rate of 4.75% (6.1% APR).

  • Market Watch

    13 Feb 2006

    Swaps cannot decide which way to go and actually fell last week. Lender reactions have been varied with some repricing upward and others bringing their rates down.

  • MBUK is optimistic about exceeding franchise target

    13 Feb 2006

    Mortgage Bureau UK is forging ahead with the expansion of its franchise packaging operation.Mike Lloyd, head of sales at Mortgage Bureau UK, says: "The plan is to have six franchise operations by the end of March but the way things are going we should have double that amount."The packager has already opened branches in Sheffield, Bradford, Henor (near Derby), Rochdale and Halifax and is due to launch in Scotland in April.MBUK is looking to target IFAs and brokerages interested ...

  • Money seems to be the hardest word

    13 Feb 2006

    Three-quarters of British couples find money the hardest subject to talk about with their partners, a survey by the Financial Services Authority reveals.A third would rather discuss sex or their previous relationships rather than their bank balances.

  • Mortgage Choice offers secured loan service

    13 Feb 2006

    Mortgage Choice has launched a secured loan service, enabling its intermediaries to submit secured loan enquiries via specialist secured loan packager Beech Introducers.Doug Hall, sales director at Mortgage Choice, says: "Beech Introducers is a recognised brand and offers a specialist service from a panel of 12 secured loan providers, ranging from loans up to 125% of the property value to self-cert with adverse."Beech also has a commission and reward scheme."Howard Soltau, ...

  • Mortgage Express welcomes CML's buy-to-let figures

    16 Feb 2006

    Andrew Moss, product development manager at Mortgage Express has welcomed the buy-to-let market figures released today by the Council of Mortgage Lenders which reveal strong growth in the sector and places Mortgage Express, as the leading lender for both new lending and balances outstanding.

  • Mortgage Strategy strikes gold with another award

    13 Feb 2006

    Mortgage Strategy has done it again. Your number one mortgage must-read publication was crowned Mortgage Publication 2005 at the prestigious John Charcol Awards last Friday evening -leaving all our competitors trailing once again.The glitzy black tie bash was held at London's swish Riverbank Park Plaza Hotel - one of the plushest hotels in the capital -and was attended by all 200 plus John Charcol staff as well as representatives from the UK's top lenders.John Charcol ...

  • MPLC adds to its national sales team

    16 Feb 2006

    Mortgages plc has made a number of additions to its growing national sales team. The lender is on a major recruitment drive in 2006 and will be announcing further appointments in the coming weeks and months.

  • MPLC appoints Derek McGuire as e-marketing executive

    15 Feb 2006

    Mortgages plc has appointed Derek McGuire as e-marketing executive. McGuire becomes MPLCs first full-time dedicated e-marketing appointment after being awarded a promotion to the role. He will be the main point of contact for all marketing activities relating to the companys On Demand online system, including promotional activity and any future developments and changes. He has been with MPLC for two years and was previously with Abbey in Glasgow and Milan.

  • MPLC to exhibit in branded truck

    17 Feb 2006

    Mortgages plc is driving its marketing message home during 2006 via its very own branded truck.

  • MPs back Nationwide's free ATM campaign

    17 Feb 2006

    MPs have backed Nationwide's campaign to protect free cash machines and to improve transparency about charges. They have also attacked the banks for their complacency on this issue at a House of Commons debate.

  • Nationwide launches fixed and tracker deals

    13 Feb 2006

    Nationwide has launched fixed and tracker rate products to give intermediaries more choice.It is offering a two-year fixed rate product from 4.44% and a two-year tracker product from 4.39% alongside the fixed and tracker products it already has available.The society has also cut the rate on its existing two-year tracker from 4.54% to 4.49%.Tim Hughes, head of intermediary markets at Nationwide, says: "While our products are available to all, we have listened carefully to ...

  • Nationwide launches fixed and tracker products

    13 Feb 2006

    Nationwide has launched fixed and tracker rate products that give brokers a range of options when advising their clients.

  • Negative press about Abbry reflects badly on the industry as a whole

    13 Feb 2006

    From Jim Gillespie In response to Sue Wilkinson's letter (Mortgage Strategy February 6), I'd like to pull her up on one point. She wrote: "I am surprised that without being in receipt of the full facts of the case, an IFA can assert that Scottish Provident uses non-disclosure as an excuse to reject claims." I am sure that remark was aimed at me, so in response I would just say that, having read a two-page spread in The Mail on Sunday that put across both sides, that would indeed ...

  • New house building completions up 11%

    17 Feb 2006

    Statistics on new house building reveal there were 42,800 housing starts in Q4 2005, up 4% on the same period in 2004 and 47,300 housing completions, up 11%.

  • OPM adds Rooftop to its panel

    16 Feb 2006

    Rooftop is the latest lender to be added to the panel of Professional Mortgage Packagers Alliance member OPM.

  • Oryen joins Lime network panel

    13 Feb 2006

    Oryen mortgage packagers have been appointed to the Lime networks panel of approved packagers. Andrew Hewitt, director of Oryen, says: We are very pleased with this appointment. We are already on the panels of Legal & General, Friends Mortgage world and Sesame we view the Lime network appointment as key to our further growth and an endorsement of service standards and business model.

  • Parker to take the reins at IF

    13 Feb 2006

    HBOS has appointed Mark Parker as managing director of Intelligent Finance. Starting on March 1, Parker replaces Nick Robinson who has been made HBOS' director of retail risk. Parker is currently head of group services and has worked at HBOS since December 2000. His previous employers include Pepsico, British Sugar, Boots and Sainsburys.Jennifer Blackwood, spokeswoman for IF, says: "Mark is IT and systems oriented so for a bank like IF, this is an ideal fit."

  • Pink appoints Nick Brown as North East BDM

    13 Feb 2006

    Pink Home Loans has appointed a business development manager to cover the North East of England and Yorkshire.

  • Pink offers BM Solutions semi-exclusive

    16 Feb 2006

    Pink Home Loans is offering a mainstream semi-exclusive product in association with BM Solutions.

  • PISCES welcomes VOA to membership

    16 Feb 2006

    PISCES has welcomed the Valuation Office Agency to its membership. Andrew Hudson, chief executive of the VOA, says: We welcome the use of a common computer language across the property market. The seamless transfer of information and the removal of the need for re-entering data will drive efficiencies whilst dramatically reducing the margin for error.

  • Platform appoints regional BDM

    13 Feb 2006

    Platform has appointed Adrian Foote to its business development team.Foote joins Platform as a business development manager for the South-West, following the promotion of James Higgs to regional manager.

  • Platform launches discount self-cert fixed and buy-to-let products

    15 Feb 2006

    Platform has launched a range of reduced self-cert fixed rate products and reduced buy-to-let products.

  • PMS adds Retirement Plus to equity release panel

    17 Feb 2006

    Premier Mortgage Service has added Retirement Plus to its equity release panel.

  • Price rises put pressure on mortgages

    13 Feb 2006

    Press reports that British Gas is planning a 25% hike in the price of domestic gas show the long-term costs involved in running a home. These need to be taken into account when assessing someone's ability to sustain home ownership.

  • Rate war is great news for brokers and clients

    13 Feb 2006

    In recent months there has been a notable rise in aggression among lenders hunting for high mortgage volumes.

  • RBS helps customers kick their mortgage into touch

    14 Feb 2006

    Royal Bank of Scotland has launched a prize draw offering customers the chance to win up to 150,000 towards their mortgage, with just the kick of a rugby ball.

  • RBS links broker brands under a single banner

    13 Feb 2006

    The Royal Bank of Scotland has joined all its intermediary brands under the umbrella of RBS Intermediary Partners.The new banner means each brand will now specialise in one area, making life easier for brokers.RBS will be cutting the number of products it offers from 100 to just over 30. The same product types will still be available but only through each specialist brand.On its product side RBS Intermediary Partners will be divided into four sections - First Active for ...

  • Regulators in line for a shake-up

    13 Feb 2006

    Government proposals to change the way consumer interests are represented could have a big impact on the work of established regulatory bodies in the financial sector, says Brad Baker

  • RICS responds to ODPM house price figures

    13 Feb 2006

    Figures released by the Office of the Deputy Prime Minster reveal house prices rose 2.9% from December 2005, compared to a revised 2.2% in November.

  • Rightmove to float on stock market

    15 Feb 2006

    Online estate agent rightmove.co.uk has announced its decision to float on the stock market with a value of up to 400m. Estate agents and developers have been invited to invest 3,000 per branch or development into the company by midday on Friday.Miles Shipside, commercial director of Rightmove, says: "Rightmove wants to give its customers the opportunity to own part of home movers' favourite property website. Rightmove wants to give its customers a steak of Rightmove's success!"

  • Rooftop expands adverse range availability

    13 Feb 2006

    Rooftop Mortgages has experienced such demand for its Right to Buy range that it is expanding availability to very light and light plus adverse customers and offering two-year fixed rates and three-year stepped discount rates.

  • Rowell to head MGM network

    13 Feb 2006

    MGM Assurance has appointed Paul Rowell to lead and direct its appointed representative network. Rowell previously worked for MGM Assurance for over 10 years, first as a sales manager from 1991 to 1993, then as regional manager for the South between 1993 and 1998 and finally as general manager for the appointed representative sales division until 2002. As well as running the distribution channel, he will be responsible for strategy.

  • Security is buyers' top priority

    13 Feb 2006

    Home security is the top priority for people looking to buy property, reveals research commissioned by The Homebuyer Show. The survey shows that over 88% of home buyers say good security is essential to their decision to buy a property. Surprisingly, security is rated as being more important in the buying decision than number of rooms and price. Home buyers also ranked security above other factors such as the quality of the neighbourhood and local facilities.

  • SMS invests in internet technology

    14 Feb 2006

    Solent Mortgage Services, the Fareham-based branded mortgage arranger, says its investment in internet technology will give brokers a business advantage in 2006.

  • SPF to open Cardiff office

    13 Feb 2006

    Savills Private Finance will open an office in Cardiff in the spring. The move is part of Savills' desire to expand its coverage nationwide.Melanie Bien, spokeswoman for SPF, says: "We want to recruit a couple of consultants with experience of the high net worth market to work in the new office."

  • Take FSA's adverse probe seriously, AMI tells brokers

    13 Feb 2006

    Chris Cummings, director-general of The Association of Mortgage Inter- mediaries, has issued a stark warning to brokers about the Financial Service Authority's second investigation into the adverse market.Cummings says all brokers should be concerned about the results of the FSA's original mystery shopping exercise into the adverse market and stresses that when it embarks on its second exercise it will take no prisoners.He says: "The FSA has already been through its first round ...

  • Taylor's Tour.....

    13 Feb 2006

    Henry Taylor's day job is running a mortgage broking business in Eastbourne on the south coast of England. When not at the office, he loves taking part in the Seat Cupra Championship

  • TFC launches Wolfie Loans to help disadvantaged children

    15 Feb 2006

    The Finance Centre Group has Wolfie Loans, named in honour of its favourite Warrington rugby club, with great rates and quick decisions available on applications from 10,000 - 150,000.

  • TFC offers 100 online incentive

    13 Feb 2006

    The Finance Centre is offering 100 on completion of all cases processed through its online applicationsystem Track.The incentive, which is runningfor a limited period only, is designedto remunerate brokers submitting well packaged cases.

  • The Famous Five go international

    13 Feb 2006

    The ex-hbos Famous Five have set up a consulting firm for the international mortgage market.MBAC Consulting, a subsidiary of The Oakwood Group, is offering a consultation service covering everything from credit to distribution.Michael Bolton, Alan Cleary and John Nixon, three of the original five who left HBOS to join Oakwood in October, are all directors of the company with other ex-HBOS and BM Solutions executives who have finished their gardening leave working alongside them.Cleary ...

  • The financial cost of smoking

    17 Feb 2006

    Smokers who quit the habit now stand to save more than just their lives, says online financial data provider Moneynet. Following the governments decision to impose a total ban on smoking in pubs and clubs, Moneynet highlights the true extent of the financial cost of smoking. Richard Brown, chief executive of Moneynet, says: A smoker applying for life assurance will find themselves facing almost double the premium of a non-smoker. Add that to the price of the cigarettes ...

  • The Mortgage Mole

    13 Feb 2006

    FLAT SPIN - Accord treated Mortgage Strategy columnist and ex-deputy ed Ironside to a day out at the Six Nations rugby earlier this month when to the amazement of everyone the Scots thrashed the French. But the ever investigative hack regrets not having a digital camera on her as she missed the chance to expose another potential Liberal Democrat scandal. En route to the rugby, Accord and guests bumped into the favourite to be the next leader of the troubled party, Sir ...

  • TMB hits 24m record on Valentines Day

    15 Feb 2006

    The Mortgage Business, the specialist and packager focused lender, yesterday processed a record amount of over 24m applications.

  • TMO appoints regional key accounts manager

    16 Feb 2006

    The Mortgage Operation has appointed Pam Dickson as a key accounts manager for the North-East and Yorkshire.

  • Treasury sets measures to combat terrorist financing

    13 Feb 2006

    The chancellor of the exchequer, Gordon Brown, has set out measures to strengthen the financial system's ability to deny terrorists funds, identify and investigate terrorist networks and disrupt terrorist activity through swift, pre-emptive strikes.

  • Two more firms join Freehold

    13 Feb 2006

    Two more firms have joined Freehold, the association for regional packagers and mortgage distributors. Chester-based Select Partnership and Bromley-based Residential One take the combined distribution of the group to 1.5bn.

  • Vertex buys 1st Software

    13 Feb 2006

    Vertex Financial Services, owner of The Exchange, has bought 1st Software. Vertex's parent United Utilities bought the firm for 25m, funded by a combination of cash, loan notes and assumed debt plus a maximum of 13.5m. subject to performance criteria over the next two years.

  • Victoria launches stepped deal

    13 Feb 2006

    Victoria Mortgages has launched a three-year stepped fixed mortgagewith interest fixed for the first six months after completion. After this it is fixed until June 30 2009.

  • We always ensure our ads reflect our business strategy

    13 Feb 2006

    From Nigel Ingram I am writing in response to the letter from Mike Jones about Preferred's 'flexible people' advertising campaign, and our request for alternative ID from one of his clients (Mortgage Strategy January 30). It is hard to comment without knowing the details of this case but I'd like to start by saying we take our commitments to anti-money laundering and treating customers fairly seriously, and always ensure our advertising message reflects our business strategy. Underwriting ...

  • We must focus more on rehabilitation

    13 Feb 2006

    The green paper on incapacity benefit reforms, which was announced by work and pension secretary John Hutton at the end of January, shows that around 2.7 million people claim IB. The government hopes that through the proposed reforms it can cut this by one million people in the next 10 years.

  • What identification is required by lenders and other organisations?

    15 Feb 2006

    There is a general confusion over why people are asked for ID and who accepts the responsibility for checking identity. In some cases, a client will have to establish who they are to three different organisations – all of whom have different requirements and obligations.

  • When lenders get sued, brokers will pay

    13 Feb 2006

    I'd like to nominate law student Stephen Hone for a knighthood for his services to people power. No, Hone is not a Mortgagebundles customer, he's a father of three from Plymouth who took on the big banks and won.

  • When small print can be a big issue

    13 Feb 2006

    Companies still producing non-compliant advertisements, including hiding relevant information in the small print, should get help before they get a call from the FSA, says Payam Azadi

  • Win a Paris break in c2 competition

    13 Feb 2006

    c2-financial has launched a nationwide broker competition with a spring weekend in Paris in five-star accommodation plus spending money as first prize. There is also a runner-up prize of a plasma TV system. The competitionruns from February 13 until March 31, and the winner will be announced on April 10.

  • With lenders promoting direct submission, is their relationship with packagers under strain??

    13 Feb 2006

    Although relationships can be strained, if both parties are committed everybody should benefit, say our experts

  • Yorkshire appoints Rachel Court to general management team

    15 Feb 2006

    Yorkshire has appointed Rachel Court to its general management team with responsibility for human resources.

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