Mortgage Strategy
14 March 2005

  • A View From The floor

    14 Mar 2005

    David Webster, chief executive of The Hanley Economic, says it is disappointing that the Stamp Duty threshold has not been raised since 1993 and it's high time it was

  • A&L calls for Stamp Duty exemption for first-time buyers

    14 Mar 2005

    Alliance & Leicester Mortgages is calling for first time buyers to be exempt from paying Stamp Duty. First-time buyers have as little as an 8% chance of finding a property which does not attract Stamp Duty reveals research from A&L.

  • Abbey welcomes Brown's decision on Stamp Duty

    16 Mar 2005

    Abbey has welcomed Gordon Brown's decision on Stamp Duty, and says it is great news, particularly for first-time buyers, and around 300,000 homebuyers a year will benefit from this and save up to £1,200.

  • Are packaging and proc fees paid out in the sub-prime market too high?

    14 Mar 2005

    The debate over whether sub-prime fees distort the market is hotting up. Here, our two experts present either side of the argument

  • B&B set to raise retirement age

    16 Mar 2005

    Bradford & Bingley is set to become one of the first private sector companies to raise the retirement age for members of its final salary pension fund from 60 to 65 years, reports The Times. The changes will affect more than half the bank's staff when they become effective from the beginning of April.B&B said that it had decided to make the change in response to mounting pressure on the scheme, including tougher funding requirements, lower investment returns and increased life expectancy.

  • Blue Sky

    14 Mar 2005

    The feeling of having no power over people and events is generally unbearable - when we feel helpless we feel miserable.

  • BM Solutions revamps online offering

    16 Mar 2005

    BM Solutions has enhanced its website with the advent of BM World, a range of online services.

  • BMS proc fee hike sparks backlash from its rivals

    14 Mar 2005

    BM Solutions faced an industry backlash last week over its decision to increase its proc fee by 0.25% to 1%, which was seen as a U-turn given its stance that rival lenders are paying too much.The lender has been vociferous in recent weeks, criticising competitors for offering high sub-prime proc and packaging fees which could influence the choice of products offered to clients.Lenders says the proc fee hike introduced by BMS last Friday is a sign that its views on other lenders ...

  • Britiannia welcomes Stamp Duty rise

    16 Mar 2005

    Britannia has welcomed the chancellors raising of Stamp Duty, but says that this is only one of the many barriers facing first-time buyers looking to get on the housing ladder.

  • Broker Support Services joins forces with PlusOne

    14 Mar 2005

    Broker Support Services has joined forces with PlusOne to provide access to buildings, contents and mortgage payment protection insurance products from Norwich Union. Third party administrator PlusOne is Norwich Unions preferred channel into the mortgage intermediary market.

  • Brown can make his mark quietly

    14 Mar 2005

    Mention of Property Investment Funds in the Budget will probably be met with a bemused silence but they could greatly boost the supply of rental properties, says Rachel Blackmore

  • BUDGET LATEST: £150 more for pensioner households

    16 Mar 2005

    Chancellor Gordon Brown has pledged £200 for pensioner households in Council Tax help.This is a £150 increase from the current level of £50.

  • BUDGET LATEST: 1.5m more homeowners since 1997

    16 Mar 2005

    In today’s Budget Gordon Brown reported that interest rates between 1979-87 stood at 10.4%, compared to 5.3% in the last eight years. Mortgage rates stood at 11.5% in 1979-87, and have almost halved to 6% in the last eight years, with 1.5m more homeowners since 1997.

  • BUDGET LATEST: 25% shared home equity scheme

    16 Mar 2005

    The Chancellor announced details in today’s Budget of a new 25% shared equity scheme.Drawn up with The Council of Mortgage Lenders it will help 100,000 new home buyers in the UK, with nine pilot schemes across the country with the opportunity for people to buy their council homes.

  • BUDGET LATEST: Brown proposes lighter touch regulation

    16 Mar 2005

    In today's Budget chancellor Gordon Brown revealed plans to take a lighter touch to regulation in line with the conclusions of a report by Sir Philip Hampton.

  • BUDGET LATEST: Fags up 7p, beer 1p

    16 Mar 2005

    The government has revealed that it will increase tax on cigarettes by 7p a packet.It will also increase taxation on beer by 1p and for wine, 4p.

  • BUDGET LATEST: IHT threshold to be raised

    16 Mar 2005

    The chancellor has pledged to increase the inheritance tax threshold over the next three years to 300,000.Starting in April 2005 it will rise to £260,000, then £275,000 in 2006, £285,000 in 2007, and finally £300,000 by 2008.Gorden Brown says that this will mean some 94% of estates will not be liable for Inheritance Tax.

  • BUDGET LATEST: Inflation sits at 1.6%

    16 Mar 2005

    Gordon Brown has revealed in the Budget that inflation stands at 1.6% and is expected to rise to 1.75% this year.The chancellor forecast an increase to 2% in 2006.Economic growth in the UK for 2004 was 3.1%, as forecast.

  • BUDGET LATEST: No change to Capital Gains Tax

    16 Mar 2005

    Gordon Brown has made no alteration to Capital Gains Tax in the Budget.The chancellor has also frozen Insurance Premium Tax and Corporation Tax and promised more action on Capital Gains Tax avoidance.

  • BUDGET LATEST: Stamp Duty threshold doubled

    16 Mar 2005

    Chancellor Gordon Brown has doubled the starting threshold for Stamp Duty to £120,00 from £60,000. This is a victory for Mortgage Strategy which has been campaigning for the threshold to be raised and delivered its Stamp Duty petiton to 11 Downing Street last week.

  • BUDGET LATEST: Tax breaks for ISAs extended to 2010

    16 Mar 2005

    Gordon Brown has given savers five more years of tax-free ISAs.This ensures people can save a maximum of £35,000 from now to 2010.Maxi ISAs, mixing up to £7,000 in cash and shares annually, will also continue.

  • BUDGET LATEST: UK debt far lower than US and France

    16 Mar 2005

    Chancellor Gordon Brown revealed in the Budget that UK debt currently stands at 34.4% of national income.This sits far below the 50% figure in the US and France and is set to remain below 40%. Brown said there will be further Euro assesments and that the government had met its fiscal targets for the current cycle and the next.

  • Budget sticking plaster for election, says Lib Dems

    16 Mar 2005

    The Liberal Democrats have slammed that Budget as little more than a sticking plaster for the next election.

  • Cartoon Cleary on updated BMS site

    14 Mar 2005

    BM Solutions is relaunching its website this week.As well as being revamped, it will include a number of innovative design features, the most eye-catching being a cartoon version of Alan Cleary, head of sales at BMS.The animated Cleary can currently be seen on BMS' website, counting down the time until the site is relaunched.The new look site will also feature a webcast from Cleary in which he will be seen offering advice and training to brokers.Brokers will be able ...

  • Charcol launches three-year tracker mortgage

    18 Mar 2005

    Charcol has launched a three-year base rate tracker mortgage, with the lowest pay rate of its kind currently on the market.

  • Chelsea adds to buy-to-let range

    14 Mar 2005

    Chelsea has introduced a range of two and three-year buy-to-let fixed rate mortgage products with effect from today, March 14.The range includes a rate of 5.75% fixed until May 31 2007 and a rate of 5.99% fixed until May 31 2008.There is also a product that is fixed at 5.99% until May 31 2007.

  • Come out on top in competence-based interviews

    14 Mar 2005

    Mark Witcomb is senior consultant at Venatus Business Intelligence

  • Complainant just won't quit

    14 Mar 2005

    From Andy Holloway I sympathise with John Stewart (Mortgage Strategy February 21). We recently had a remortgage client who visited our offices, signed a fee authority and terms of business, had a letter explaining our fee, an offer from the lender confirming our fee and an illustration indicating our fee of 150. He decided to pay 60. We filed an application with the small claims court which found in our favour and the client paid up. But three days after the judgement he ...

  • Connells reports hike in instruction levels

    15 Mar 2005

    Connells Survey & Valuation has reported a significant increase in instruction levels in the last six weeks.

  • Conservative call it a vote now, pay later Budget

    16 Mar 2005

    Speaking in the House of Commons in response to the Budget today, Conservative party leader, Michael Howard called it a vote now, pay later Budget.

  • Coulson thought to be on gardening leave

    14 Mar 2005

    Richard Coulson is believed to be on gardening leave after quitting his position as Zurich Mortgage Network director.It is thought he turned down Zurich's offer of another role in the group, which he felt would be equivalent to redundancy.Mortgage Strategy reported earlier this year that Coulson was to leave his post as ZMN director and might take up a sales management role in Zurich Advice Network, which will become Openwork in the summer.However, Fay Ford, spokeswoman ...

  • Curriculum Vitae - Jon O'Brien

    14 Mar 2005

    "I realised there are opportunities outside the restrictive corporate environment"

  • Day of the regulated estate agent will come

    14 Mar 2005

    With all industry changes there are winners and losers.

  • Dear Delia

    14 Mar 2005

    Mr Stark is interested in acquiring a buy-to-let property using a company to make the purchase but he doesnt know how to set up the company.

  • Development planned for east Manchester

    18 Mar 2005

    Manchester City Council has granted planning permission for a 220m re-development of a four acre site adjacent to Piccadilly Station.

  • Dirty money is falling through UK hands

    15 Mar 2005

    New research concludes that out of the 250bn that is currently laundered through the UK, only 46m has been recovered.

  • Don't ask me, I only work here...

    14 Mar 2005

    The above excuse no longer holds water for an executive or anyone in a mortgage firm performing a controlled function - under the FSA you must keep your finger on the pulse, says Ben Stafford

  • E-rule to prune DA numbers

    14 Mar 2005

    Brokers who are directly authorised could be forced to become appointed representatives because of demands placed on them by Financial Services Authority electronic reporting requirements.The Association of Mortgage Intermediaries has already warned the new rules will mean a lot of preparation for brokers as negligence will mean expulsion from the industry.Stephen Atkins, group compliance director at Freedom, says that since brokers have realised the sheer amount of work that ...

  • Exclusive Connections adds fixed rates to range

    16 Mar 2005

    Exclusive Connections has added some fixed rates to its range of products.

  • Financial health matters

    14 Mar 2005

    Financial scams cost consumers 1bn per year, says the Office of Fair Trading. Many of these originate from outside the UK, making detection and prosecution difficult. In February the OFT ran a campaign called Scams Awareness Month but in case you missed it here are some of the ways international criminals can swindle you (and especially your elderly relatives).One of the most common scams is to persuade you that you can get lots of money for nothing. Well, it's never actually nothing ...

  • Friends Provident finds 32bn life cover shortfall

    16 Mar 2005

    Nearly a quarter of homeowners in the UK admit that they dont have cover to pay off their mortgage debts in the event of their death, a Friends Provident surveyreveals.

  • Friends Provident joins NAB distribution panel

    14 Mar 2005

    Friends Provident has been selected by National Australia Bank Group to be a partner in a distribution agreement.

  • FSA regulation benefits brokers and consumers

    14 Mar 2005

    The fees charged by a London brokerage have increased by up to 27% since statutory regulation came into force last October.Research by Square Mile Mortgage Finance also reveals that the sales process now takes an average of one hour longer than before the Financial Services Authority took over the regulation the mortgage industry.But this extended transaction time is benefiting both consumers and brokers, with the former receiving better advice and the latter able to charge ...

  • GMAC-RFC funding hits record in binding decisions

    18 Mar 2005

    GMAC-RFC has reported that the number of binding decisions issued each day has hit record levels.

  • Gordon Brown out of touch on Stamp Duty

    15 Mar 2005

    The government is out of touch on Stamp Duty, says the propertyfinder.com website.

  • Hamptons poised to change hands

    16 Mar 2005

    Hamptons International is poised to change hands in a 35m deal, reports The Times.Wheelock Properties, a Singaporean group that owns a 32% stake in Hamptons, is said to be in talks to buy out the other shareholders, which include Bridgepoint and NatWest Ventures.Robin Paterson, chief executive of Hamptons, who owns 18%, will sell out and leave to run a country club venture.

  • High-tech future in question

    14 Mar 2005

    From Kevin Thornton A recent experience has caused me to seriously question whether technology really does represent the future for the industry. I was attempting to source a mortgage through Trigold and then send it electronically to Bristol & West. So there I am, sitting with the client filling in the electronic fact-find on Trigold, sourcing a suitable deal, producing my KFI and suitability letter and completing an online application. I press the send button because everything ...

  • How to turn yourself into a lender

    14 Mar 2005

    The experience of Money Partners shows that it is possible to become a mortgage lender quickly and with limited expenditure if you outsource key functions, says Frank Eve

  • IFS acquires ProShare

    15 Mar 2005

    The Institute of Financial Services has acquired ProShare UK, a company that specialises in share market education.

  • IHT could affect all UK homeowners in under 12 years

    16 Mar 2005

    Despite the increase in the IHT threshold to £275,000, in less than 12 years house price increases could make the average UK homeowner liable for Inheritance Tax.

  • Industry concern over EC plan

    14 Mar 2005

    European Commission plans for a single mortgage market across all member states could unravel Financial Services Authority regulation, warns the Association of Mortgage Intermediaries.The matter was discussed by the Treasury and interested parties for the first time last week. AMI, which attended the meeting, says it seems the UK has won a temporary reprieve as it is now looking unlikely that mortgages will be included in the Consumer Credit Directive.The CCD will come in next ...

  • Internet Insight

    14 Mar 2005

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Jeff Sutherland-Kay checks out the websites of brokers, product providers, clubs, networks and packagers

  • IT collaboration

    14 Mar 2005

    Lindenhouseand 1st have integrated their Invu and Adviser Office products. This collaboration between the two firms means users of Adviser Office will be able to access documents in Invu whilst working in their familiar Adviser Office environment.

  • Kensington Group receives informal approach, says reports

    18 Mar 2005

    Kensington Group is believed to have received an informal approach yesterday, says a report in todays Financial Times.

  • Knight returns to GMAC-RFC in UK

    14 Mar 2005

    Simon Knight is returning to GMAC-RFC's UK business as managing director strategy and investments, and taking a seat on the lender's board.He replaces Neil Sinden who is moving to Australia to spearhead the lender's launch into that market.His previous GMAC-RFC UK role was as marketing director and he is back after three and a half years at the lender's headquarters in Minneapolis. In the US he held the position of managing director and chief marketing officer responsible for ...

  • Landlords look to expand overseas

    14 Mar 2005

    Research from Savills Private Finance shows over half of landlords polled plan to expand their portfolios overseas in the coming year.The firm says that despite predictions of an imminent crash in the buy-to-let sector caused by landlords dumping stock in testing conditions, a surprising number are upbeat, particularly when it comes to investing abroad.Some 14.7% of those surveyed already own investment property overseas while others are being tempted to look abroad by the proliferation ...

  • Landlords win human rights victory in Belfast

    14 Mar 2005

    The landlords of Northern Ireland, supported by the National Federation of Residential Landlords, have won a significant victory in Belfast High Court.

  • Lender plays down KFI problems

    14 Mar 2005

    Brokers say they are experiencing problems receiving Key Facts Illustrations direct from GMAC-RFC and have been advised to get the documents from sourcing systems.But the lender says that while it is seeing record volumes through its online system, it has not heard of any such problems and these must be isolated incidents.Manchester-based broker Cartel says it was told GMAC-RFC could not produce an offer KFI as the product had been withdrawn since being recommended to the client. ...

  • Lenders must be clear on the legal services they can offer

    14 Mar 2005

    From John O'Hearne When using lenders' appointed legal representatives in remortgage cases it would be helpful if these lenders knew what additional services were available from their solicitors. I have recently had two cases whereby the customers wished to take partners off their mortgages while switching and so required additional legal work. Enquiring with a lender (prior to the submission of the cases) I was informed this could be done at an additional cost. I proceeded ...

  • Lessons from Down Under

    14 Mar 2005

    Ian Graham says the prevailing price trends in this country mirror those seen in Australia a year ago and he expects the UK market to follow the same path.He says: "The market is cyclical and it is usually clear what phase it will move into next. As in Australia, there is no sign of a bust in the UK and the market will continue to soften."The key issue is the affordability of properties and that is based on factors other than house prices."With the Budget looming and many ...

  • Lib Dems criticise Budget

    16 Mar 2005

    The Liberal Democrats have criticised today's Budget.  Charles Kennedy MP, leader of the Liberal Democrats, says: "We are lucky in this country. Britain has the fourth largest economy in the world. 

  • London Mortgage Company launches near-prime products

    15 Mar 2005

    London Mortgage Company has entered the near-prime market with a range of products aimed at those with minimum levels of impaired credit.

  • Low proc fees put some brokers off TMW deals

    14 Mar 2005

    Some brokers are refusing to use The Mortgage Works' products because of low procuration fees.Paul Howard, associate director at Portman, says the vast majority of brokers don't even enquire about the proc fee but some say they won't be able to offer products because of the 0.4% fee.He says: "What should matter is that the product is right for the client. If we were to increase the proc fee it would affect the pricing of the product and our aim is to offer the best product for ...

  • Majority of home buyers support HIPs

    15 Mar 2005

    More than 80% of home buyers and sellers say theintroduction of Home Information Packs is a good idea, reveals a survey by NOP World.

  • Marketwatch

    14 Mar 2005

    Swap rates remained pretty quiet compared with recent weeks but last week was still a busy period for rate changes.

  • Marlborough takeover deal nears

    14 Mar 2005

    The board of Marlborough Stirling last week advised its shareholders to accept a takeover bid by Ver- tex Data Science, a wholly-owned subsidiary of United Utilities.The directors of Vertex and Marlborough Stirling have agreed the terms of a proposal whereby Vertex will acquire the entire issued and to-be-issued share capital of Marlborough Stirling. If shareholders give the proposal the go-ahead, the deal is expected to be completed by May this year.The consideration payable ...

  • McGinn to leave Abbey this month

    14 Mar 2005

    Ambrose McGinn, director of Abbey for Intermediaries, is to leave the company on March 24.He has decided to resign after 16 years at Abbey, saying he wants a change of direction in his career.The Abbey for Intermediaries team will report to Tim Murley, managing director of intermediary and specialist banking, subject to Financial Services Authority approval.McGinn says: "I have had a long and fascinating career with Abbey but the time is right for a change. Abbey remains ...

  • MEX bosses enrol for exam

    14 Mar 2005

    Senior managers at Mortgage Express have enrolled for the Institute of Financial Services' specialist module for lifetime mortgages.Emphasising the importance of education for all those involved in the sale and advice of the product, Tim Sturley, head of business development, and Roger Hillier, head of product development at MEX, have enrolled to take the IFS' Certificate in Lifetime Mortgages.The certificate costs 105 and for that students get learning materials and an exam ...

  • MEX praises safe but dull Budget

    16 Mar 2005

    Mortgage Express has praised the chancellor's latest Budget as safe but dull, though good news for the mortgage market.

  • Money Partners added to Black and White panel

    16 Mar 2005

    Money Partners has been added to the Black and White Group's lending panel.

  • Mortgage Business Expo Manchester to be held on May 18/19

    14 Mar 2005

    Mortgage Business Expo Manchester will take place on May 18 and 19 this year at the G-MEX exhibition centre.

  • Mortgage Intelligence launches 90% buy-to-let product

    17 Mar 2005

    Mortgage Intelligence has responded to increased demand in the sub-prime mortgage sector by launching a 90% LTV buy-to-let product.The product has been developed through an exclusive arrangement between Mortgage Intelligence and Preferred Mortgages and is priced at 5.75% up to 80% LTV and 5.85% up to 90% LTV.Sally Laker, managing director of Mortgage Intelligence, says: "This market sector has been crying out for a 90% product and Mortgage Intelligence are the first to ...

  • Mortgage market predictably flat in February, says CML

    18 Mar 2005

    Total gross lending in February remained flat at 17.2bn, the latest data from the Council of Mortgage Lenders reveals.

  • Mortgage Next reports 27% applications increase

    17 Mar 2005

    Mortgage Next has reported that the volume of new applications has risen by 27% over the previous month to its highest level for a year.

  • Mortgage Next suggests fixed rate solution

    18 Mar 2005

    Mortgage Next has a solution for borrowers who took out two-year fixed rate mortgages in 2003 and now face payment increases when their loans revert to SVR.

  • Mortgage Trust extends MT Select panel

    14 Mar 2005

    Mortgage Trust is opening its MT Select buy-to-let range to Mortgage Times and Mortgage Next. The range consists of a streamlined version of Mortgage Trusts core buy-to-let range and boasts simplified criteria requirements.

  • Mortgage Trust launches buy-to-let investor guide

    14 Mar 2005

    Mortgage Trust has produced a practical guide to buy-to-let investment.

  • Mortgages Direct slams Stamp Duty "cop out"

    16 Mar 2005

    Mortgages Direct has criticised the chancellor for not raising the Stamp Duty threshold by more.

  • MT extends fixed period on mass market products

    16 Mar 2005

    Mortgage Trust has extended the fixed-rate periodon two of its most competitive mass market products by an extra two months.Its 5.59% fixed rate has been extended until June 30 2006 and its 5.89% fixed rate has been extended until June 30 2008.Both products have an arrangement fee of 499 and 85% LTV.

  • NAEA urges chancellor to stop ignoring Stamp Duty

    14 Mar 2005

    The National Association of Estate Agents is calling for the chancellor to amend Stamp Duty levels in the Budget. Peter Bolton King, chief executive of the NAEA, says: We urge the chancellor to finally acknowledge the need to amend the archaic Stamp Duty levels.

  • NatWest appoints LIDA to handle direct marketing activity

    18 Mar 2005

    NatWest has appointed brand response agency LIDA to handle the direct marketing activity for the mortgage side of the business.

  • NatWest launches buy-to-let deals

    14 Mar 2005

    NatWest has launched two buy-to-let deals for theintermediary market.

  • Network Data to go public

    14 Mar 2005

    The purpose of the 2m fundraising exercise is to buy smaller mortgage networks that are likely to struggle with compliance costs and the many other overheads of running a network.Network Data says it sees a window of opportunity over the next six months to build its network and maintain its position in a market in which it says it has achieved a 31% market share.Richard Griffiths, managing director of Network Data, says: "This is an important step in the development of our network ...

  • Newcastle welcomes Stamp Duty reform

    16 Mar 2005

    Newcastle has welcomed the increase of the Stamp Duty threshold to £120,000.

  • Nick's notes

    14 Mar 2005

    A European Union proposal on equal treatment of men and women reached a crucial stage at the end of last year when it became the Gender Equalisation Directive.

  • On the beat

    14 Mar 2005

    The mortgage industry has grown at a frantic pace over recent years, with mortgage lending trebling since 1998. There must be a 'but', you say.

  • Packagers advised to stick together

    14 Mar 2005

    Packager cooperative Freehold has responded to comments last week about the possible eradication of 75% of the packaging market, saying this will not happen as long as packagers stick together.In last week's Mortgage Strategy, Jon O'Brien, operations director at the Professional Mortgage Packagers Associates, warned that sub-prime lenders have been telling him they will only deal with 50 big packagers in the next 12 to 18 months.However, Paul Brett, spokesman for Freehold, ...

  • Packaging still pays, says MT

    14 Mar 2005

    The Mortgage Times Group says while firms such as Pink Home Loans are downsizing, its packaging business business is booming.Chris May, director at The Mortgage Times Group, says packagers have a future provided they offer services such as inhouse underwriting and solicitors to speed the process and get offers out quickly.The firm says it's looking to expand its packaging arm from 70 cases processed per day to 100 by the end of the year.He says: "We have two full-time underwriters ...

  • Packaging still strong despite shaky start to 2005

    14 Mar 2005

    Colin Lloyd is head of operations at Reed Insurance

  • Park Row appoints regional sales manager

    15 Mar 2005

    Park Row Corporate & Private Clients has appointed Mike Baggaley as southern regional sales manager.

  • Platform back in self-cert with wide range of deals

    14 Mar 2005

    Platform, Britannia's intermediary lender, last year increased its arrangement fee on conforming self-cert to 485 from 395 and put the rate up by 0.25% to 5.49% following fears it would be swamped by business.It has now launched an extensive range of self-cert base rate trackers and fixed rates, scrapping the previous rate increases.This move is designed to ramp up business levels and increase market share. On the new range of products, rates have been reduced by up to 0.31% ...

  • Platform reduces rates across self-cert range

    15 Mar 2005

    Platform has launched a range of self-cert base rate trackers and fixed rates removing the rate increases that were introduced in the summer of 2004.

  • Portman joins Spinal Research for celebrity race day

    17 Mar 2005

    Portman is to join with Spinal Research to host a major fund-raising day on Easter Monday at Plumpton Racecourse, East Sussex.

  • Proc fee debate turns into a row

    14 Mar 2005

    The debate over whether proc and packaging fees paid by lenders are too high reached fever pitch last week with a surprise move from BM Solutions, which hiked its proc fee by 0.25% to 1%.

  • Record amount of property on the market

    15 Mar 2005

    The amount of property coming onto the market has risen to its highest level since May 2003, says the Royal Institution of Chartered Surveyors' monthly housing survey.

  • Regency welcomes Stamp Duty boost

    18 Mar 2005

    Regency Mortgage Corporation has welcomed the chancellor's decision to double the Stamp Duty threshold.

  • Regulation increases reliance on technology

    15 Mar 2005

    Nearly half of mortgage intermediaries say complying with FSA regulation has increased costs for their business, reveals a survey by The Exchange.

  • Relief at asset tax rethink

    14 Mar 2005

    Ministers have scrapped plans that would have meant older people who took out home reversion equity release plans would have been liable for tax.Changes to the pre-owned assets regulations will come into force on April 6 this year.The government says Schedule 15 of the regulations will provide for an exemption for cases in which the former owner continues to enjoy an asset they have sold so long as they have disposed of their interest in it apart from the right to continuing ...

  • Revolt in the air as brokers criticise Abbey over service

    14 Mar 2005

    Brokers are hitting out at Abbey about its poor service over the past few months and its failure to keep them informed of progress on cases.Things have now reached the point that some intermediaries are avoiding doing business with the lender altogether. While Abbey admits it is experiencing problems in some areas it says it is doing all it can to clear backlogs. Manchester-based broker Cartel says it has told its advisers not to do business with ...

  • Selling the benefits of relationships

    14 Mar 2005

    Mortgage intermediaries must learn to sell the benefits of customers establishing an ongoing relationship with them as this will be in the long-term interests of both parties, says Neal Smith

  • Simply Conveyancing launches HIP arm

    14 Mar 2005

    Simply Conveyancing has launched a company to deal exclusively with the Home Information Packs being introduced by the government in 2007.

  • Stamp Duty change could save FTBs up to 1,000

    18 Mar 2005

    The Co-operative Bank estimates that the chancellor's decision to increase the Stamp Duty threshold from 60,000 to 120,000 should save first-time buyers around 1,000.

  • Stamp Duty changes not enough, says Purely Mortgages

    16 Mar 2005

    Purely Mortgages says that while it welcomes the government's increase of Stamp Duty thresholds, it didn't go far enough.

  • Stamp Duty changes to benefit MPs constituencies

    16 Mar 2005

    Changes to the Stamp Duty threshold will benefit homebuyers in the MPs constituencies, but not everyone else in the country, says John Malone, managing director at Premier Mortgage Service.

  • Stamp Duty reform means most self builders won't pay

    16 Mar 2005

    BuildStore has welcomed the raising of the threshold on Stamp Duty and says it is great news for self builders.

  • Stamp Duty reform welcomed by Alliance & Leicester

    17 Mar 2005

    Alliance & Leicester has welcomed the chancellor's decision to raise the Stamp Duty threshold to 120,000.

  • Stamp Duty rise not enough, says Charcol

    16 Mar 2005

    Charcol says that the doubling of Stamp Duty thresholds is unlikely to help huge numbers of buyers.

  • Stamp Duty rise to £120,000 not enough, says GMAC-RFC

    16 Mar 2005

    GMAC-RFC says the decision by the government to raise the lower end of the Stamp Duty threshold from £60,000 to £120,000 is a step in the right direction but does not do nearly enough to help borrowers - especially those in the subprime sector.

  • Standard Life Bank adds more flexibility to lifetime mortgage

    14 Mar 2005

    Standard Life Bank is extending its LTV percentages and introducing lower minimum property value requirements on its Freestyle lifetime mortgage range.

  • Standard Life Bank maintains profitable growth

    17 Mar 2005

    Standard Life Bank has maintained profitable growth in 2004, after first breaking into profit in 2003.

  • Standard Life Bank welcomes Stamp Duty reform

    16 Mar 2005

    Standard Life Bank has welcomed the StampDuty threshold raise to £120,000 in Gordon Brown's Budget.

  • Standard Life webcast outlines protection online

    14 Mar 2005

    Standard Life is helping advisers get to grips with its Protection Online system with a webcast.

  • Step up, gordon

    14 Mar 2005

    In this week's Budget, the industry and home owners want to see a rise in the Stamp Duty threshold - an unfair tax that now traps most most buyers and discourages home ownership, says Helen McCormick

  • Stepping up the pressure for reform

    14 Mar 2005

    As our front cover shows, this week Mortgage Strategy's deputy editor Rosemary Gallagher went to 11 Downing Street to deliver our Step Up Stamp Duty campaign slips to the government.With the Budget this week, the time is right for MS to put its campaign into overdrive and send a clear sign the mortgage market is demanding reform of the outdated Stamp Duty thresholds.If you've not done so, sign the coupon below and send it to: Mortgage Strategy, 50 Poland St, London ...

  • The First Appointed Day

    15 Mar 2005

    February 7 2005 was the day which had long been awaited by publicans, restaurateurs, hoteliers, entertainers, late night refreshers, and most importantly, lawyers. The day when the provision of intoxicating beverages, public entertainment and the post 11pm snack attack as we know it would change forever. Of course it was the beginning of the end of a long-standing tradition of fixed textbook reference licensing laws, for a period of transition commenced implementing the first concrete ...

  • The Woolwich calls on lenders to scrap HLCs

    16 Mar 2005

    The Woolwich has called on lenders to follow its lead and scrap higher lending charges to further help first-time buyers by saving them around £2,000.

  • Trigold launches online audit tools

    14 Mar 2005

    Trigold has launched a range of audit tools for its online compliance monitoring system Compliance Shield.Compliance Shield Audit Tools allows compliance officers at brokerages and networks to review documents on clients from every broker at their firm and identify high risk cases. They can produce reports identifying cases that fall outside of their firm's criteria and the reasons for these failures.It is hoped that automated exception reporting will save compliance officers ...

  • Use the power of persuasion

    14 Mar 2005

    John Prust, sales and marketing director of Southern Pacific Mortgage Limited, says leadership and persuasion are more important than power in the modern business world

  • Value and service

    15 Mar 2005

    At Kensington Mortgages we have always made quality of service central to everything we do hence the announcement of our Business Support Centre which provides expert service and advice and our brand new on-line distribution system which is in the process of being rolled out to intermediaries.

  • We must all get a slice of the cake

    14 Mar 2005

    Fees paid to mortgage packagers and intermediaries must allow them to make reasonable profits and designers must remember this when creating products, says Wayne Smethurst

  • West Brom revises policy

    14 Mar 2005

    West Bromwich has revised its lending policy on shared ownership.The society will lend up to 100% of the borrower's share of the property but different pricing and products apply depending on the maximum LTV required.There is a fixed option available at 5.99% fixed for three years then Bank of England base rate plus 0.99% for the term and a variable option at BBR plus 0.99% for the term, with a current pay rate of 5.74%.Richard Early, assistant general manager of credit ...

  • What should be in this week's Budget?

    14 Mar 2005

    Expectations is the housing industry are high this week for what will be announced in Gordon Brown's Budget.

  • What's the point of dealing with lenders via mortgage clubs?

    14 Mar 2005

    From Rick Gifford What is it with proc fees and mortgage clubs? It recently took me two and a half years to obtain the correct proc fee from Abbey for a 95,000 mortgage. It sent me 45 on completion but would not pay the full fee unless I was a member of a mortgage club. I've always been independent and generally place my cases directly with lenders. Why do I need a club? The matter again reared its ugly head with a 100 proc fee from Northern Rock for a 460,000 mortgage. This ...

  • Why network size really does matter

    14 Mar 2005

    Larger networks can offer their appointed representatives the benefits of the economies of scale, a wider range of product providers and higher proc fees, says Richard Griffiths

  • Your Move praises Stamp Duty change

    16 Mar 2005

    Your Move estate agents has welcomed the chancellor's decision to raise the Stamp Duty threshold to £120,000.

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