Mortgage Strategy
13 March 2006

  • 13% Of brokers would spy on their rivals

    13 Mar 2006

    Just 13% of Mortgage Strategy Online readers say employing a private detective to spy on rivals is part of their business plan.Some 87% say they'd never employ a private dick but that still means you've still got a one in 10 chance of being hit when it comes to corporate spying. Last week's story about the break-in at network Home of Choice threw up the issue of espionage after appointed representative files were tampered with.This week Mortgage Strategy asks: "Will ...

  • 17% of estate agents are not aware of HIPs

    15 Mar 2006

    Easier2move, the online conveyancer, has revealed the results of its first Home Information Pack awareness index, which shows 17% of estate agents do not know what one is.

  • A&L commercial appointments

    13 Mar 2006

    Alliance & Leicester Commercial Bank has madetwo senior appointments to its commercial property team.Yvonne Edwards has been appointed senior manager of property development and David Nicholson has been appointed senior manager of property investment.

  • Abbey launches exclusive new build products

    13 Mar 2006

    Abbey has launched a product range exclusively for new build and has enhanced its fixed and flexible offerings.

  • AIFA and AMI hold annual conference

    16 Mar 2006

    Members of the Association of Independent Financial Advisers and the Association of Mortgage Intermediaries met at the annual AIFA and AMI London conference to find out more about the main issues affecting the intermediary industry from their trade body, regulators, policy makers and industry leaders.

  • AIFA disappointed with number of FOS complaints

    17 Mar 2006

    The Association of Independent Financial Advisers has published its response to the Financial Ombudsman Services Corporate Plan & Budget 2006/07. AIFA states in its response that it is disappointing that the number of complaints received by FOS is so high. Chris Cummings, director general of AIFA, says: A matter of considerable concern to us is the increasing volume of complaints being generated by complaint management companies. Evidence suggests that many complaints are being ...

  • Aitken plans to stay in the mortgage industry

    13 Mar 2006

    Stuart Aitken says he is highly unlikely to leave the mortgage industry following his resignation as director of credit at Southern Pacific Mortgages Limited.Aitken, who helped set up SPML, has been with the company for the past nine years but says it is time for him to move on. He is working out his notice until Gerry McHugh takes over the reins, possibly later this month.McHugh has 20 years' experience in the mortgage industry, having worked for The Woolwich and at Global ...

  • Allocating portfolios to commercial property could have a good impact

    14 Mar 2006

    Analysis from Fidelity International demonstrates that allocating just a small proportion of a portfolio to commercial property can have a significant effect on its diversification, risk levels and potential returns.

  • AMI to join forces with charity

    13 Mar 2006

    The Association of Mortgage Intermediaries is to join forces with a charitable foundation to offer help to those less fortunate.Chris Cummings, director- general of AMI, says: "Setting up a link with a charitable foundation is something we discussed at our last board meeting. We have a responsibility to help those less fortunate than ourselves and the events AMI organises present some good opportunities to promote a charity."We will be putting to our members a list of criteria ...

  • Anthony Dukes appointed as Swift Group BDM

    16 Mar 2006

    Swift Group has appointed Anthony Dukes as business development manager for the North East of England and Scotland.

  • Are lead generation firms good value or are brokers better off generating their own leads?

    13 Mar 2006

    Established brokers are better off relying on their own introducers but there is a case for good third party sourcing, say our experts

  • At the crossroads

    13 Mar 2006

    The equity release industry must take control of its own destiny by backing Mortgage Strategy's Release it Right campaign. Robert Thickett, Rebecca Atkinson, Luci Mylward and Natalie Martin investigate a sector facing crucial decisions

  • B2L results

    13 Mar 2006

    The Money Centre processed 1.4bn worth of buy-to-let mortgage applications in 2005.

  • Bananas launches product designed to assist FTBs

    13 Mar 2006

    Packager and branded lender Bananas Inc is targeting first-time buyers with a 95% LTV mortgage and an affordability calculation.The three-year fixed rate deal at 5.94% is designed to encourage first-time buyers to make their purchase sooner rather than delaying it until they can increase their earnings or afford a larger deposit.Sue Cox, business manager at Bananas Inc, says: "We know there are tens of thousands of potential first-time buyers who are stuck. They cannot move ...

  • Bankhall signs PI cover deal

    13 Mar 2006

    Bankhall has signed a deal with specialist professional indemnity insurer PYV to provide professional indemnity cover at preferential terms for its members.

  • Barnetts Solictors plugs into interactive Sky service

    14 Mar 2006

    Barnetts Solicitors has become one of the first law firms in the country to tap into Sky's new interactive TV service. The Southport-based law firm has signed up to Sky's new e-business portal, which is free to both companies and subscribers. Sky's new portal allows anyone with a website to create a special version of their service that can be accessed through the Sky Interactive platform. It will be accessible initially through the interactive menu on the Sky set-top box. ...

  • Base rate held

    13 Mar 2006

    Last week the Bank of England held interest rates at 4.5% for the eighth month in a row. The Monetary Policy Committee last reduced interest rates by 0.25% on August 4 2005.

  • Beacon launches fixed product range

    13 Mar 2006

    Beacon Homeloans has launched a fixed rate product range with immediate effect.

  • Benefits of mutuality a myth, says moneysupermarket.com

    14 Mar 2006

    Mutuals are supposed to give a better financial deal to savers and borrowers than the banks, however research from moneysupermarket.com, shows that this may be more myth than reality.

  • BM could lose more staff

    13 Mar 2006

    Nigel Stockton, managing director of HBOS Intermediary Mortgages and Birmingham Midshires, has admitted that BM could lose up to 30 more staff after HBOS pays its annual staff bonuses.HBOS announced strong results earlier this month and will soon pay annual bonuses amounting to millions of pounds across the group. Because the bonus is worth so much Stockton believes staff planning to leave to join Michael Bolton's start-up or DB Mortgages are likely to be waiting until ...

  • BM Solutions applications rise

    13 Mar 2006

    BM Solutions saw a 50% increase in application volumes in January compared with the same month last year. BM Solutions says this continues its upward year-on- year trend. Tim Hague, director of BM Solutions, says: "This increase is a testament to our proposition and our continued commitment to specialist markets. But we're not going to rest on our laurels and will continue to offer brokers good deals backed up with good online systems and service."

  • BoS introduces two tracker products

    16 Mar 2006

    Bank of Scotland Mortgages has introduced two two-year tracker rates, to provide intermediaries with competitive products to offer clients going into the years key home buying season.

  • Britain the worst in Europe for gazumping

    17 Mar 2006

    One in three people in Britain or around 8.7million people fall foul of the property game as they see the homes of the dreams fall through, reveals a new study.

  • Britannia offers 99 remortgage deal

    17 Mar 2006

    Britannia is offering its customers the chance to remortgage for just 99 on its entire remortgage range.

  • British public predict 0.8% rise in house prices

    13 Mar 2006

    There has been a dramatic turnaround in sentiment with the British public now predicting a 0.8% rise in house prices, says the latest quarterly MoneySavingExpert.com House Price Consumer Confidence Index.

  • Brokers urge lenders to clarify policy on footprints

    13 Mar 2006

    Lenders have been called on to show more clearly whether they leave light or full footprints on borrowers' records when giving decisions in principle.Danny Lovey, proprietor of The Mortgage Practitioner, says when he contacts lenders direct their staff generally don't know whether or not a footprint is left at the DIP stage.A footprint is a mark left on an individual's credit history when a lender performs a credit check. But whether it is a hard footprint - visible to other ...

  • BSA says sector still strong

    13 Mar 2006

    The Building Societies Association has rebuffed claims that further mergers will lead to a weakening mutual sector, following the merger between Portman and Lambeth.The BSA says the recent spate of mergers will have no effect on the mutual sector as a whole.Rachel Le Brocq, spokeswoman for the BSA, says: "We don't see mergers representing any weakening of the sector. With Portman and Lambeth total assets will effectively remain the same, as will the number of members and branches."Robert ...

  • Buy-to-let confidence grows, says Mortgage Trust

    13 Mar 2006

    With 58% of buy-to-let intermediaries expecting rental incomes to increase, and 70% expecting property values to rise over the next three months, Mortgage Trusts latest intermediary forecast reveals strong confidence among intermediaries operating in the buy-to-let sector. Recent data from the Council of Mortgage Lenders reveals that buy-to-let lending increased by 40% in the second half of 2005, and with Mortgage Trusts latest research showing that 52% of intermediaries expect ...

  • Buy-to-let confidence on the increase

    13 Mar 2006

    Over 81% of investors believe the buy-to-let market will provide good returns, reveals research commissioned by The Homebuyer Show.

  • C&G denies branch closure claims

    13 Mar 2006

    Cheltenham & Gloucester has hit back at claims it is likely to lose its high street presence following its plan to centralise its mortgage processing system.The lender is looking to enhance its online application proposition to make its products more accessible to brokers.An industry source tells Mortgage Strategy branch closures are likely following the decision to centralise C&G's application system, but this is denied by C&G intermediary sales director John Champion.Champion ...

  • Chancellor to make Budget statement next week

    16 Mar 2006

    The chancellor of the exchequer will make his annual Budget statement on Wednesday March 22 at 12.30pm.

  • Children believe they will be millionaires, says UCB Home Loans

    14 Mar 2006

    Research results have shown that over half of 16-21 year-olds would like to become self-employed when they are older, and almost a third think they will become millionaires.

  • Citizens Advice welcomes Consumer Credit Bill amendment

    17 Mar 2006

    Citizens Advice, the national charity that deals with over one million debt problems a year, has welcomed a government amendment to the Consumer Credit Bill that promises to outlaw irresponsible lending.

  • City prices rise

    13 Mar 2006

    Flat prices rose by an average of 1.4% in February in Canary Wharf, Shad Thames, Wapping and Bow, reveals the latest survey of prices in the City by estate agency Felicity J Lord.

  • Clients must learn to trust our advice

    13 Mar 2006

    A little knowledge is a dangerous thing and we must improve the public perception of advisers so clients come to us first to stop them getting into hot water, says Sue Read

  • Compass Finance appoints Mike Hutchins to its board

    16 Mar 2006

    The board of Compass Finance has appointed Mike Hutchins as non-executive deputy chairman with effect from March 14 2006.

  • Complete guide to TCF

    13 Mar 2006

    The Complete Network has unveiled a guide for its appointed representatives. to help them explain the Treating Customers Fairly initiative to clients. It contains an explanation of the duties of mortgage advice firms.

  • Confidence falls

    13 Mar 2006

    Nationwide says consumer confidence has fallen for nine of the past 12 months as people take an increasingly pessimistic view of the economy and labour market.Its Consumer Confidence Index fell from 98 to 94 in February and is now just above its all-time low of 92, seen last October.

  • Connells and L&G to provide mortgage related life assurance

    16 Mar 2006

    Legal & General has entered into a strategic alliance to provide mortgage related life assurance through the Connells Group.

  • Consultation paper on reversions soon

    13 Mar 2006

    The Treasury is due to issue a consultation paper in the next few days outlining its proposals for the regulation of home reversion plans.It will then meet the Association of Mortgage Intermediaries and the Financial Services Authority to discuss the structure of the regulation.Chris Cummings, director-general of AMI, says: "We are expecting a consultation paper any day now on the shape and structure of the regulation of home reversions. We will then go into a three-month consultation ...

  • Consumer confidence increases says Propertyfinder.com

    15 Mar 2006

    Propertyfinder.coms February survey has seen the largest jump in confidence in the housing market since May last year when confidence rebounded after a marked pre-election nosedive.

  • Curriculum Vitae - Mike Perry

    13 Mar 2006

    "My favourite tipple is orange juice - I don't have to face waking up with a headache"

  • D&D marketing appointment

    13 Mar 2006

    D&D Homecare has appointed Peta Matthews as its marketing and communications manager.

  • Daughters receive more monetary support than sons

    15 Mar 2006

    When it comes to getting onto the property ladder, daughters are beating sons in the battle for the parental pound.

  • DB Countdown

    13 Mar 2006

    The Fab Four are working hard on the launch of lender db Mortgages from their mission control centre in Chester and have finally got their laptops working, says Bill Dudgeon

  • Dear Delia

    13 Mar 2006

    Dear Delia Chris and Carol are self-employed buy-to-let investors with a portfolio of two properties. They were thinking of putting new properties into self invested personal pensions before the governments U-turn. They believe they can double their portfolio over the next year but wonder if property is still a good investment. They can access the equity in their existing properties and want to know the options for expanding their portfolio.

  • Debt agencies recruit to meet crisis

    13 Mar 2006

    Leading debt collection agencies have increased their staff levels by over a third to cope with the worsening personal debt crisis, says recruitment agency Venatus.A number of collection agencies which collect for major lenders such as HBOS, MBNA, Royal Bank of Scotland and Citigroup have increased their workforces by between 25% and 33% over the past year. They report that the number of cases being handled is rising by 20% annually.These figures follow announcements on bad ...

  • Don't bet on Brown to help first-time buyers

    13 Mar 2006

    It's coming up to that time of year again when we wait with bated breath to see what chancellor Gordon Brown will give with one hand and take away with the other.

  • Dubai deals could be a scandal

    13 Mar 2006

    Overseasproperty-broker.com says the trend toward purchasing property in Dubai off-plan is a scandal waiting to happen.

  • Ecology named best value building society

    14 Mar 2006

    Ecology has taken third place in the What Mortgage Awards category of Best Value National Building Society over 10 years. Although one of the countrys smallest and youngest building societies the Ecology is celebrating its twenty-fifth birthday this year and this award is proof that it is getting better with age.

  • Enrico Tedesco joins BDS

    14 Mar 2006

    BDS Mortgage Group has appointed Enrico Tedesco as its corporate development manager, with responsibility for managing its key satellite packager partners.

  • Equity release sector fights its corner

    13 Mar 2006

    Over the past few weeks it has been fantastic to see and hear the views of the increasing number of advisers who are either working in the equity release market or wanting to do so.

  • European hotspots head north

    13 Mar 2006

    European house price inflation hotspots are shifting from the sunny south to northern Europe, reveals the Royal Institution of Chartered Surveyors' European Housing Review. The review looks at the performance of 18 European housing markets in 2005, analysing trends across the Continent in areas such as inflation, building activity and mortgage markets.

  • Explain unpaid claims to your clients

    13 Mar 2006

    After what seems endless industry bashing over unpaid claims we are moving away from discussing providers' declined claim percentages and toward focussing on claims that are declined due to non-disclosure.

  • Finance firms failing to fully embrace web, says Google

    13 Mar 2006

    Consumer finance firms are failing to take into account consumers growing reliance on the internet to research financial products, services and information, says Google.

  • Find a path through the FSA jungle

    13 Mar 2006

    Trying to find information on the FSA's website can be like an expedition into an impenetrable jungle so why not let the Mortgage Firms Library be your guide, says Bill Warren

  • First-time buyer levels continue to rise says Mortgages Direct

    13 Mar 2006

    Mortgages Direct says that first-time buyers are continuing to return to the market with first-time buyer levels at 46% in February from 45% in January.

  • Free speech must not lead to anarchy

    13 Mar 2006

    Freedom of speech is important in private life and in industry, but you must ensure you get your facts straight before you make allegations about people or companies, says Richard Griffiths

  • Freedom joins AMPD panel

    13 Mar 2006

    The Alliance of Mortgage Packagers and Distributors has added Freedom Lending to its panel of lenders.

  • FSA clarifies T&C proposal

    13 Mar 2006

    The Financial Services Authority has confirmed its detailed rules on training and competence will not apply to individuals working in financial firms who deal only with wholesale or non-private customers from next year.

  • FSA launches TCF online tool

    15 Mar 2006

    The Financial Services Authority has launched an online self-assessment tool and is urging smaller firms to use it to determine whether they are doing all they can to treat their customers fairly.

  • FSA publishes method of measuring cleanliness

    17 Mar 2006

    The Financial Services Authority is publishing a method of measuring the cleanliness of UK financial markets.

  • FSA will let rogue ads pass until interest rates increase

    13 Mar 2006

    From Rob Walker I am concerned about the lack of action by the Financial Services Authority when it comes to firms in the sub-prime market that do not comply with its advertising regulations. I am a partner in a relatively small brokerage and we have decided to pull all our print-based advertising until there is a level playing field. Firms that play by the rules and ensure their advertising is compliant are being penalised as prospective clients are more likely to choose ...

  • FTBs should be exempt from Stamp Duty, says A&L

    15 Mar 2006

    First-time buyers should be exempt from paying Stamp Duty, helping more potential home owners get on the property ladder. says Alliance & Leicester.

  • GE changes rates on igroup first charge portfolio

    17 Mar 2006

    GE Money Home Lending has made rate changes to its igroup branded first charge mortgage portfolio. Available from March 17 the changes are focused on its LTM 0 GEM 2 plans.

  • GE unveils deals starting at 3.99%

    13 Mar 2006

    GE Money Home Lending is launching a range of first-time buyer and near prime products with rates starting at 3.99%.GE Money says the range will provide value and choice. There is no early repayment charge overhang on the two-year or three-year fixed rates, with two product options - near prime plus and first-time buyer plus.There is also a 60% LTV band, offering lower rates for customers with larger deposits, plus a choice of nine risk grades. Near prime rates are from 3.99%, ...

  • German market poised to boom

    13 Mar 2006

    With unemployment falling and the preference for home ownership on the rise, Germany is likely to turn into one of the hottest property markets in Europe after 15 years of static prices, says Assetz.

  • Germans keep their eyes on the ball

    13 Mar 2006

    Several financial services companies are planning trips to the World Cup this summer as a thank you to major clients and supporters.

  • GMAC moves to improve packager relationships

    13 Mar 2006

    GMAC-RFC is slashing its packager panel and offering upfront fees in a bid to improve its relationships with packagers.Mortgage Strategy has learned that the lender has approached a number of packagers it deals with offering a proposition that includes exclusive products and improved criteria.In a presentation to packagers last week, GMAC-RFC admitted feedback showed packagers felt it hadn't supported them or delivered on its promises in the past.The presentation ...

  • Good year for b2l

    13 Mar 2006

    This will be a good year for buy-to-let, with new lenders entering the market and landlords showing signs of being in it for the long haul, says James Cotton

  • Government can't have it both ways

    13 Mar 2006

    Is the government scoring an own goal in its attempt to promote home ownership while retaining Stamp Duty in its present form?

  • Guaranteed and Genesis unveil GI proposition

    14 Mar 2006

    Guaranteed and Genesis Home Loans has unveiled a general insurance proposition, which is available to its network, in partnership with Hanover Park Commercial/HomeSure.

  • Guaranteed and GHL appoint Pep Cipriano as marketing manager

    16 Mar 2006

    Guaranteed and Genesis Home Loans has appointed Pep Cipriano as their marketing manager in a bid to develop the company brand and raise its profile through specialist marketing techniques and PR initiatives.

  • Happy to work in finance

    13 Mar 2006

    GMAC-RFC, Fairbairn Private Bank and Loans.co.uk are among the top firms in the country to work for, featuring in the Sunday Times Top 100 Best Companies list.The survey measures staff happiness alongside perks such as pensions and equal opportunities.Credit broker Loans.co.uk was voted the 10th best company to work for and credited with putting people before figures despite seeing revenues topping 46m and a profit of 3m in the last financial year.The firm boasts ...

  • Have confidence in equity release

    13 Mar 2006

    Brokers who have previously steered clear of advising on equity release believing it to be complex and risky should be encouraged by recent developments, says Peter Turley

  • HBOS improves service levels with eg work manager

    14 Mar 2006

    eg says unsettled financial market conditions, customer demand and increasing regulation has required HBOS Financial Services to significantly improve its service levels and cost management.

  • High LTV products have their place

    13 Mar 2006

    With house prices continuing to be a barrier to many first-time buyers, much energy has been put into products aimed squarely at this niche. One of the problems these borrowers face is getting a deposit together. Last week, Mortgage Advice Bureau pointed to an increased take-up of mortgages at 100% and in some cases even higher LTVs.

  • HIPs timeline published

    16 Mar 2006

    The government has published its timeline for the implementation of Home Information Pack, which sets out what it and the industry needs to do to ensure the successful launch of HIPs to consumers on June 1 2007.

  • HoC launches second charge and bridging service Loans of Choice

    13 Mar 2006

    Home of Choice has designed and launched a bespoke second charge and bridging packaging service called Loans of Choice.

  • Home owners pay for higher rates

    13 Mar 2006

    Higher mortgage interest rates led to a 7% increase in the costs of owning and running a home in 2004/05, research by Halifax reveals.The average mortgage rate in 2003/04 was 4.4%. This rose to 5.4% in 2004/05, which meant an increase in mortgage interest payments of 20% to an average of 2,146.James Cotton, mortgage specialist at London & Country, says: "This finding is not surprising regarding 2004, as the Monetary Policy Committee increased the Bank of England base rate four ...

  • Home owners urged to review fixed mortgage deals

    13 Mar 2006

    MoneyExpert.com is urging the 970,000 plus home owners who took out fixed-rate mortgages two years ago to review their loans now or risk overpaying.

  • Home sales system adds compliance capability

    13 Mar 2006

    Home Buyer System, the integrated sales and compliance system for mortgages and general insurance, is collaborating with training and compliance consultancy Nm2.When integrated with Nm2's services the Home Buyer System will be able to provide a compliant sales process, ongoing training, an early warning system for risk monitoring and remote compliance monitoring.Richard Angliss, director at Home Buyer System, says: "Having proven its worth as the integrated sales process and ...

  • Homes website gets record visits

    13 Mar 2006

    Propertyfinder.com may be closing the gap on Rightmove after a record 1.2 million buyers, sellers and renters visited it during February.This is a 65% increase over the four months since Propertyfinder.com was acquired by News International and realestate.com.au last November. In February, visitors to Propertyfinder.com generated 580,000 referrals to estate agents at an average of eight referrals per agent per day.

  • House builders must embrace innovations, says Premier Guarantee

    15 Mar 2006

    It is essential for house builders to embrace innovations in building to meet soaring demand, says Premier Guarantee.

  • How satellites boost their incomes

    13 Mar 2006

    Satellite packagers receive higher proc fees because they do more work on applications than their parent packagers and they can also steal a march on local rivals, says Payam Azadi

  • How should you explain to clients about leaving sufficient time between exchange and completion?

    16 Mar 2006

    Even in the simplest of conveyancing transactions there will be at least two parties involved. These two parties will have different agendas in most aspects of the transaction and one area where this is particularly apparent is agreeing the date for completion. Except in new builds, in order to exchange contracts, the parties need to talk about and agree a completion date.

  • HSBC reveals record profits

    13 Mar 2006

    HSBC has revealed the biggest profits ever by a UK high street bank, making 11.5bn in 2005.HSBC operates worldwide and less than one fifth of its profits are made in the UK.

  • ifs launches CeMAP podcast

    14 Mar 2006

    Podcast style revision notes are now available online for the Certificate in Mortgage Advice and Practice.

  • ISA demand likely to hit record levels

    15 Mar 2006

    ISA demand could hit record levels, with nearly 13 million people taking one out this year, reveals ICM research commissioned by Intelligent Finance.

  • It costs more to visit Wales but it's still good value

    13 Mar 2006

    From John Pearson I couldn't agree more with Julia DeBattista (Mortgage Strategy Letters March 6), apart from one thing - it now costs 4.90 (cash only) to cross the bridge into Wales, not 4.50. But it's still good value and you're not charged a penny to get back.

  • Kensington increases online usage through Kensington Choices

    16 Mar 2006

    Kensington Mortgages says since the launch of its Kensington Choices product range two weeks ago, it's seen a 50% increase in its online Key Facts Illustrations, online binding decisions and mortgage application pipeline.

  • KGB becomes 12th member of PMPA

    13 Mar 2006

    KGB Packaging has joined the Professional Mortgage Packagers Alliance, becoming its 12th member.The Barnet-based packager parted ways with former association Freehold earlier this year to pursue its application with the PMPA.Rachel Bancroft, managing director of KGB, says membership of the PMPA will add credibility to the firm's proposition, despite the alliance's recent troubles.The PMPA lost 12 of its members when they broke away to form a rival association, the Association ...

  • Leadgeneration

    13 Mar 2006

    Mortgage Strategy's monthly guide to the lead generation companies brokers could be doing business with. Justine Tomlinson looks at the options available to intermediaries

  • Lenders feel strain of unsecured debt, says Datamonitor

    14 Mar 2006

    The average debt per adult in the UK was 4,021 at the end of 2005, says a report from independent market analyst Datamonitor.

  • Lloyds TSB raises almost 1.7m for Marie Curie Cancer Care

    13 Mar 2006

    Lloyds TSB says that its year-long relationship with Marie CurieCancer Care has resulted in its most successful charity partnership to date, with Lloyds TSB staff raising more than 1.67m for the charity.

  • LMS welcomes HIPs timeline

    16 Mar 2006

    LMS has welcomed the governments publication of its timeline for the introduction of Home Information Packs, but struck a note of concern about the ability of some providers to meet it. Dominic Toller, director of marketing and new business at LMS, says: We are delighted that the Office of the Deputy Prime Minister has now published the timeline on HIPs. It is a challenging schedule and it will be tough for some of the providers to meet.

  • Market Watch

    13 Mar 2006

    Swaps increased substantially last week.

  • Marketing Brief

    13 Mar 2006

    Support is critical in the mortgage industry. Kevin Paterson's A-Z review rates the marketing material that lenders issue to help brokers with sales and business development

  • Men under pressure to look good, says Norwich Union

    16 Mar 2006

    British men are under more pressure than ever before to look good and are becoming increasingly critical of their own bodies, reveals a study by Norwich Union.

  • M-Next launches self-cert discount

    13 Mar 2006

    Mortgage Next has launched a two-year discounted self-cert mortgage, available via members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.

  • More women buying financial protection

    14 Mar 2006

    For the first time, more women are buying protection of the financial kind than men, says research from LifeSearch.

  • Mortgage 2000 appoints Nikki Haworth

    13 Mar 2006

    Mortgage 2000 has appointed Nikki Haworth as its corporate partnerships manager.

  • Mortgage hunting frustrating and confusing, says Standard Life

    17 Mar 2006

    Almost two-thirds of mortgage hunters in the UK find the process of searching for a mortgage frustrating (65%) and confusing (64%), says research from Standard Life.

  • Mortgage Next launches 100% plus mortgage

    13 Mar 2006

    Mortgage Next has launched two products funded by Mortgage Express, a fixed rate buy-to-let and a 100% plus mortgage.

  • Mortgage Next launches two fixed rate mortgages

    15 Mar 2006

    Mortgage Next has launched two fixed rate mortgages funded by Bristol & West, aimed specifically at first-time buyers whose application is being supported by their parents.

  • Moving upmarket in Spain

    13 Mar 2006

    Norwich and Peterborough says detached and semi-detached villas in Spain rose in popularity in 2005, while the number of people buying apartments and terraced properties fell.

  • MPLC appoints Gould to develop strategy

    13 Mar 2006

    Mortgage PLC's appointment of Paul Gould as strategic development director has been criticised as being too late to save its online face.The lender has spent vast sums of money on marketing following the development of its On Demand online proposition for intermediaries. But some users say it is not up to scratch.One source tells Mortgage Strategy the fact MPLC sent out a mouse mat that doesn't work with a laser mouse as a gift is testament to its lack of technological ...

  • MPLC enhances standard lending criteria

    13 Mar 2006

    Mortgages plc has made a number of enhancements to its standard lending criteria, the first changes to be implemented following a series of introducer feedback forums which have been held across the country in February and March.

  • MPLC sponsors balloon bonanza

    17 Mar 2006

    Mortgages plc is sponsoring a special balloon bonanza at this years Mortgage Strategy awards.

  • MT to host first awards dinner

    13 Mar 2006

    The Mortgage Times Group, in association with The Mortgage Business, is to host an awards dinner for its appointed representatives and directly authorised brokers.The awards recognise the group's top performing brokers of 2005 and will be based on volume of business, completion ratio and the quality of applications submitted.For the lender awards, intermediaries have been asked for their views on the service they receive.The awards are to be held on Thursday March 30 at ...

  • N&P award family 5,000 for eco friendly home

    13 Mar 2006

    Norwich & Peterborough has given a young family from Herefordshire an award for their environmentally-friendly home, and a cheque for 5,000.

  • N&P reveal winners of Eco Self-Build competition

    13 Mar 2006

    A young family from Herefordshire have scooped a 5,000 award for their environmentally-friendly home from Norwich and Peterborough.

  • Nationwide welcomes HIPs timeline

    16 Mar 2006

    Nationwide has welcomed the publication of a timetable for the implementation of Home Information Packs by the Office of the Deputy Prime Minister.

  • Network Data to launch Abbey flexible tracker

    17 Mar 2006

    Network Data has released details of its Abbey flexible plus tracker available from March 20 2006.

  • No-change cover policy launched

    13 Mar 2006

    Britishinsurance.com has launched an insurance policy that guarantees no change in premium or cover levels for five years.The product costs 5 per 100 of the borrowing and will allow borrowers to cancel their cover with 30 days' notice.Mortgage Strategy's Stamp Out Single Premium Accident Sickness and Unemployment campaign aims to eradicate this as a product. Single premium cover often adds a lump sum to a mortgage with added interest causing the debt to increase significantly.

  • Number of Mersysiders investing abroad set to increase, says City Residential

    17 Mar 2006

    The number of people on Merseyside investing in property abroad is set to double in the next five years, says City Residential.

  • Number of people living alone expected to increase, says ODPM

    14 Mar 2006

    An increase in people living by themselves will account for 72% of annual household growth up to 2026 says the latest household projections published today by the Office of the Deputy Prime Minister.

  • Number of providers charging exit fees increases, says moneyfacts.co.uk

    16 Mar 2006

    A growing number of providers are charging exit fees and tha number is growing at an alarming rate, says moneyfacts.co.uk.

  • ODPM reveals house price data

    13 Mar 2006

    Data from the Office of the Deputy Prime Minister shows the mix-adjusted average house price in the UK in January 2006 stood at 188,191, up from 185,788 in December 2005.

  • Offsets' suitability questioned

    13 Mar 2006

    Consumers paying the most tax and with large savings are the only people suited to an offset mortgage, says research firm Defaqto.It says higher rate tax payers with above average savings are the people best suited to take out offset mortgages - and even then only if they are prepared to commit for the longer term and are financially disciplined.David Black, head of banking at Defaqto, says: "If it is approached as a fundamental part of a borrower's financial planning process ...

  • Openwork chooses Mortgage Brain to provide sourcing system

    14 Mar 2006

    Openwork has reached an exclusive agreement with Mortgage Brain to provide the sourcing system for the companys mortgage platform.

  • Outlook for UK not that bad, says A&L

    16 Mar 2006

    Research from Alliance & Leicester into mortgage and unsecured debt shows the UK is a long way away from returning to the bad old days of the early 1990s despite rapid growth in the appetite for borrowing.

  • Over half of landlords will buy HMO, says NLA

    15 Mar 2006

    Research from the National Landlords Association suggests that, 61% of landlords say they will be less likely to purchase a home in multiple occupancy following the introduction of mandatory licensing laws.

  • Packagers could be hit by EU law

    13 Mar 2006

    The Financial Services Authority could be forced to take all packagers under its wing when a European directive comes into play.The Marketing in Financial Instruments Directive will replace the existing Investment Services Directive and will form part of the law of EU member states by October 2007. MiFID expands the scope of activities regulated by the FSA, which is aiming to make MiFID-related rule changes by January 31 2007 so that firms can implement those changes by November ...

  • Paper trail for unregulated B2L deal came to 57 pages

    13 Mar 2006

    From Lee Martin I recently completed an application for an unregulated buy-to-let deal. Unregulated? What a joke. I am part of a network and have to issue an unregulated Initial Disclosure Document, complete a full fact-find which the client signs, do an illustration which I have to get from the lender and then complete an application form. The lender I am using is Northern Rock. Its application form is 36 pages long. I think having 36 pages for a single property buy-to-let ...

  • Pink appoints Neil Hoare as marketing manager

    15 Mar 2006

    Pink Home Loans has appointed Neil Hoare as its marketing manager. With over 20 years experience in the financial services industry, Hoare joins Pink from Abbey where he has spent the last four years, the majority of which has been spent leading the insurance proposition under the Abbey for intermediaries brand. Prior to joining Abbey, Hoare worked for NFU Mutual as marketing controller for the life pensions and investment division having also spent time in sales, training and IT.

  • Pink tie-up offers ARs lead generation service

    13 Mar 2006

    Pink Home Loans has teamed up with Leadbay to provide its appointed representative network members with a lead generation deal.Pink has worked with Leadbay to ensure it has a compliant lead generation service for its ARs. It has also agreed to give its ARs a 5% credit every time they spend 1,000 with the Leadbay system.Dev Malle, sales director at Pink, says: "We asked our ARs for feedback about what they expect from a lead generation system. We then worked with Leadbay to ensure ...

  • Platform connects with packagers using XML

    13 Mar 2006

    Platform has become the first specialist lender to integrate its online clickdecision tool with a number of packagers' internal systems using XML technology.This integration will allow packagers to use Platform's decision tool in conjunction with their own technology for greater efficiency.It should also benefit brokers, who will receive a binding decision from Platform either via its website or the selected packager partners.Platform will include more packagers in the initiative ...

  • Play with the stars at summer cricket event

    13 Mar 2006

    Cricket fans could be in for a treat if they enter their team into a charity event sponsored by Venatus Business Intelligence.The two teams that reach the final will get professional cricketers to captain them for the match. The event will raise money for the National Society for the Prevention of Cruelty to Children.Venatus director Peter Gwilliam sits on the NSPCC Birmingham Business Group Committee.He says: "At the charity we often have networking and brainstorming sessions ...

  • Portfolio trading is on the brink of a new era

    13 Mar 2006

    In the past few years whole loan trading has become more prevalent. While trading in whole loan portfolios might sound a bit detached from the selling of mortgages, in reality the two are closely connected.

  • Prepare for more mutual get-togethers

    13 Mar 2006

    News that Portman is about to merge with London-based Lambeth could herald the start of another 1980s-style acquisition boom among the remaining mutuals, but perhaps not on the Cheltenham & Gloucester scale when it seemed that none of the small fry were safe from the predatory jaws of the C&G shark as it cruised through the then prolific shoals of building societies, devouring all who crossed its path.

  • Proposition for DA firms

    13 Mar 2006

    Prestbury has launched a proposition for directly authorised firms called BSure. Members will have access to an online quote and submission system, allowing advisers to track and submit life and general insurance business. Bsure will also provide members with access to Trigold and Mortgage Brain.

  • RAMP looks to expand its compliance team

    13 Mar 2006

    The Regulatory Alliance of Mortgage Packagers is recruiting a senior compliance professional to work alongside compliance director Nick Battersby.The decision to expand the compliance team follows the successful launch of training and regulatory compliance seminars for RAMP members. The seminars were well received and will continue, with the aim of keeping members at the forefront of distribution, says RAMP.

  • Ray of light in the statistical darkness

    13 Mar 2006

    "There are lies, damned lies and statistics", goes the saying. We rely on numbers and statistics but increasingly mistrust what we are told by the government. That's why chancellor Gordon Brown is going to make the Office for National Statistics fully independent.

  • RBS broker arm unveils four exclusive deals

    13 Mar 2006

    Royal Bank of Scotland Intermediary Partners is launching four products exclusively for brokers under its RBS and First Active brands today.Three products are being launched under the RBS brand and are for house purchases. There is a two-year tracker with an initial rate of 4.39%, a two-year fixed rate at 4.49% and a three-year fixed rate at 4.84%.Under the First Active brand, a three-year fixed rate remortgage at 4.84% is being unveiled.These are the first products to be ...

  • Reduce the tension about retention

    13 Mar 2006

    Customer retention is not the most exciting subject but it should be given a higher profile as it of importance to both lenders and intermediaries, and is at the hub of their relationship.

  • Release the power of equity business

    13 Mar 2006

    Mortgage Strategy's cover feature this week focusses on our equity release standards campaign Release it Right. Kicked off in February in association with the Association of Mortgage Intermediaries, the campaign aims to raise the standard of advice in the equity release sector.

  • Retirees expect income shortfall

    13 Mar 2006

    A report into retirees' attitudes towards equity release products by Scottish Widows Bank reveals only one in four expect to have enough money to do the things they want in retirement. The report concludes that many expect to have to find extra money. Over eight million admit to a possible shortfall in their incomes and when asked how they will set about making up this shortfall, most say will raise more money rather than cut their expenditure.DA brokers warned on compliance ...

  • RICS clarifies its position on HIPs

    16 Mar 2006

    The Royal Institution of Chartered Surveyors has clarified its position on Home Information Packs following the publication of an implementation timeline by the government.

  • Rodea heads back to Savills

    13 Mar 2006

    James Rodea is leaving his position as commercial director at Cluttons Private Finance after 18 months to rejoin Savills Private Finance. Rodea was a broker at Savills when it was established in 1996 but left in 2000 to join Hamptons International Mortgages. He will start at Savills as a director on April 3 in a business development role.

  • Scottish expo

    13 Mar 2006

    The first Mortgage Business Expo in Scotland attracted 897 attendees. It was held in Glasgow and featured more than 40 exhibitors and a seminar programme organised by the Council of Mortgage Lenders and the Association of Mortgage Intermediaries.

  • Smethurst was behind boxing match mystery

    13 Mar 2006

    An enigmatic logo spotted by MortgageStrategy at the Joe Calzaghe vs Jeff Lacy fight on March 4 has been linked with Wayne Smethurst, senior partner at The Finance Centre.The striking blue and red logo of previously unknown firm The Mortgage Champion was pasted on the ring and in the background of the press conference and weigh-in prior to the super-middleweight unification fight at Manchester's MEN arena, sparking speculation in the industry.Smethurst has now ...

  • Social renting is dominant tenure in most deprived areas, says ODPM

    17 Mar 2006

    The fourth and final part of a series of reports on the Office of the Deputy Prime Minister Survey of English Housing for 2003-2004 has been released and focuses mainly on households in deprived areas.

  • Sourcing systems will remain rivals

    13 Mar 2006

    Commercial and technological rivalry is likely to prevent sourcing systems Trigold and Mortgage Brain working together for the benefit of intermediaries, says Frank Eve

  • Spring Move rejects Tory call

    13 Mar 2006

    Home buying misery means more than 40,000 deals are falling through each month, reveals research by Spring Move. Spring Move provides information required on properties and believes Home Information Packs will help break the chains in the housing market.The company says it rejects the Conservatives' call to scrap the packs, which are due to become compulsory from June 1 2007.

  • Stamp Duty deters FTBs

    13 Mar 2006

    Stamp Duty has been slammed for penalising first-time buyers, despite the rise in the exemption threshold from 60,000 to 120,000 last April.A survey from the Royal Institution of Chartered Surveyors reveals 55% of estate agents believe the Stamp Duty threshold of 120,000 is deterring first-time buyers from entering the market, and 69% believe the 1% threshold of 250,000 is deterring them.Research from Portman also reveals that in the nine months following the rise in the exemption ...

  • Surveyors believe housing market is static, says National Homebuyers

    14 Mar 2006

    Property owners have real cause for concern about the UK property market, reveals a survey published by National Homebuyers. Nearly 90% of independent Royal Institute of Chartered surveyors interviewed by National Homebuyers feel the market is at best static and at worst slow, strongly contradicting recent reports of improvements.

  • SWB mortgage lending up 31%

    13 Mar 2006

    Scottish Widows Bank last week reported that mortgage lending grew substantially in 2005 with loans and advances to customers rising by 31% to 4.6bn.

  • Take precautions if you are recommending self-cert

    13 Mar 2006

    From Victoria Leaning I read with interest the informative Mortgage Strategy self-cert supplement published last month. I may be taking a simplistic view of the market but I reckon that, prior to committing to recommending a self-cert mortgage, advisers should think hard about the consequences. In today's compensation climate, the biggest threat is the customer. Why would a customer want to self-certify if they have P60s, accounts and proof of investment income? If the ...

  • Tax rebate for energy efficient homes

    13 Mar 2006

    House owners who install energy-saving fixtures could see 100 shaved off their council tax bills.

  • The future of landlords is assured

    13 Mar 2006

    Not long ago the mere mention of the word landlord sparked tales of woe and profiteering. Disgruntled tenants were expected to live in squalid conditions while paying rent disproportionate to the quality of their accommodation.

  • The Live Organisation welcomes ODPM's HIPs timeline

    17 Mar 2006

    The Live Organisation has welcomed the recent Office of the Deputy Prime Minister news release regarding deadlines and details for the forthcoming Home Information Packs.

  • TLT commissions opinion on FOS

    14 Mar 2006

    Financial services specialist law firm TLT has commissioned a preliminary legal opinion from financial services counsel on the fairness of, and the legal basis for, the Financial Ombudsman Service's denying the sector the opportunity to time bar consumer complaints, when a court of law would otherwise permit such a defence.

  • TMB expands sales team

    13 Mar 2006

    The Mortgage Business has expanded its sales team by two.Matthew Cumber joins as regional sales manager for the South and Brian McDermott joins as national account manager.

  • Tories come out against HIPs

    13 Mar 2006

    The debate on Home Information Packs has picked up pace again following the Conservatives' assertion that they should be scrapped, with more being done to help first-time buyers. Caroline Spelman, shadow secretary for the Office of the Deputy Prime Minister, claims the biggest challenge the market faces is that young people can't afford to get onto the housing ladder and that there is serious public concern regarding HIPs. Kirsty Allsopp, presenter of TV show Location, Location, ...

  • Trigold can call Network Data to fix its technical problems

    13 Mar 2006

    An open letter to Trigold from Paul Bennington I refer you to our recent email correspondence and several hours of telephone conversations. Notwithstanding your efforts, you advised me that I probably had a virus on my terminal and closed the fault report. I found that assumption surprising, especially as you were unable to access my terminal remotely due to our security measures.But I duly cleaned the hard disk and ran two companies' virus scans, both of which confirmed ...

  • UCB raises its B2L rates

    13 Mar 2006

    UCB Home Loans is raising the interest rates on its buy-to-let two-year fixed rate products by 0.1%.

  • US mortgage bankers start to feel the itch

    13 Mar 2006

    One after another, like alcoholics at an AA meeting, mortgage bankers are coming clean these days - about declining profits margins, about lay-offs at their shops and about the big one - the suddenly not-so-rosy outlook for the US mortgage market.Yes, the long anticipated slowdown in mortgages has finally washed up on US shores and it's not pretty. To be fair it's not entirely ugly either.The industry is coming off its second best year ever. Lenders of all stripes (banks, credit ...

  • Valuations problem could break HIPs

    13 Mar 2006

    When you analyse the debate rumbling on about Home Information Packs there is one issue at its heart - valuations. Not only is there concern about whether there will be enough qualified home inspectors, there is also a worry as to whether the reports they produce will be of any use to lenders.

  • Vertex signs on to help launch DB Mortgages

    14 Mar 2006

    Deutsche Bank and Vertex Financial Services have signed a contract, after forming a strategic partnership to help launch DB Mortgages into the intermediary mortgage lending market.

  • Victoria sells first pool of mortgages

    13 Mar 2006

    Victoria Mortgages has successfully completed the sale of its first pool of mortgages to an undisclosed London financial institution.Victoria, which is partly owned by its panel of packagers, has sold a tranche of business which it has built up since its launch in May 2005.

  • Ward returns to lending

    13 Mar 2006

    Tony Ward made a triumphant return to the lending market last week with the launch of intermediary lender Basinghall Finance, a joint venture between his company Home Funding and West LB Capital Markets.Basinghall Finance is planning to make portfolio acquisitions over the coming months before launching a lender distribution model that it promises will be "a bit different".It will source new mortgages through intermediaries and other originating partners, and fund these through ...

  • We got no help even though we were ahead of the game

    13 Mar 2006

    From Maurice Edgington From time to time I review the broader market for the purposes of comparison with my own firm's offering. This time I have reached a depressing conclusion - forward-thinking is not a good idea for a small firm. In 1997 we launched our first website which had an online enquiry form and was in effect a fact-find that could be completed and submitted any time. This was followed in March 1998 by an online application progress tracker and in June 1998 by a ...

  • What it costs to climb the ladder

    13 Mar 2006

    Research from Hometrack reveals how much more the average home owner will need to pay to step up the housing ladder. Data from the company's property valuation system shows the greatest financial leap is for owners moving from a three-bedroom property to a four-bedroom one. The average uplift in value is 64,032.

  • Which? complains about equity release but puts forward no viable alternative

    13 Mar 2006

    From Bill Petrie Having worked in the equity release market for many years I have often come across views similar to those outlined by Which? regarding equity release products. The prime responsibility when recommending equity release has to be that the product is seen as the last option for the majority of clients and not the first. Downsizing and using other assets should be considered because delaying the equity release option by a few years can make a big difference to the ...

  • Would you consider taking out PPI with your mortgage?

    13 Mar 2006

    Steve Smith, 54, builder - I don't have any insurance on my mortgage and would never consider getting any. My mortgage is pretty low as it is but I'm self-employed so every penny counts. Rates for insurance products seem ridiculously high.Ruth Payne, 26, personal assistant - I'm in the process of getting a mortgage and will definitely take out insurance with it because you never know what could happen and I would hate to be stuck with massive repayments and no way ...

  • YES gives away Peugeot 206 Independent

    15 Mar 2006

    Cardiff-based Yes Loans & Mortgages is celebrating five years of trading by giving away a Peugeot 206 Independent car to one of its customers.

  • Yorkshire balance grew 7.7% in 2005

    13 Mar 2006

    The Yorkshire reports a mortgage balance growth of 7.7% in 2005 with its overall growth doubling compared with 2004. The society's results also highlight a fall in mortgage redemptions to 21%, a figure it says is better than the industry average.

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