Mortgage Strategy
14 May 2007

  • BoE warning over ONS relocation

    14 May 2007

    The Bank of England has warned that the accuracy of inflation statistics from the Office of National Statistics could be at risk following the decision to relocate ONS statisticians from London to Newport, South Wales. The BoE says that if substantial numbers of ONS staff are unwilling to move, skills will be lost and this could impact on the quality of data provided by the statistics body.

  • Don't encourage FTBs, says edeus

    14 May 2007

    Edeus has criticised calls for first-time buyers to be encouraged into the market. Michael Bolton, chief executive of edeus, says: "It is irresponsible to encourage first-timers into a market where indebtedness is high and interest rates are about to peak. People should think about buying their first houses when they are 30, not 21."

  • 40 TMG staff opt for redundancy

    14 May 2007

    Tony Murtagh, a former Sunday Times rich list mortgage broker, has confirmed that 40 staff at his firm The Money Group have taken voluntary redundancy.

  • 6 X lenders, prepare to be scapegoats

    14 May 2007

    There is no automatic correlation between mortgage borrowing based on an income multiple of 6 x salary and insolvency. Indeed, those lenders that have been treading this path are at pains to stress the prudential nature of their procedures.

  • A delegate's tale

    14 May 2007

    Im really looking forward to the 2007 Mortgage Summit. I jump into my car at 3pm and head for Stansted airport. But the A14 is closed and I have to rally drive through the flat fens. I meet a local driver who thinks he owns the road. His sign language is interesting and I hope his carbon footprint ends up where it hurts.

  • A lordly disdain for Labour's ideas

    14 May 2007

    I like the House of Lords - it's a beautiful building and it encapsulates more enduring legislative wisdom than the House of Commons. Occasionally, I can't help a wry smile when their cantankerous lordships swat down an irritating and poorly thought out piece of legislation sent up from the Commons.

  • A&L launches specialist range

    14 May 2007

    Alliance & Leicester has launched a range of specialist mortgages. The range includes a self-cert two-year fixed rate deal at 5.34% with a maximum LTV of 85% and an arrangement fee of £1,999 and a self-cert two-year fix at 5.84% with a maximum LTV of 90% and the same arrangement fee.

  • Advantage appointment

    14 May 2007

    Advantage has appointed David Dalby as chief surveyor. Dalby, who joins from Connells Survey and Valuation, will be responsible for managing Advantage's valuation panel.

  • Advantage appoints new director

    17 May 2007

    Advantage has appointed Tracy Stokes as director of originations.

  • AHIPP warns against commons debate

    15 May 2007

    The Association of Home Information Pack Providers has warned against the Home Information Pack commons debate this week.

  • Allwood quits First Plus to set up brokerage

    14 May 2007

    Mark Allwood has quit as wholesale director at First Plus to set up his own brokerage.Following his departure, marketing director Chris Waring will take over responsibility for external relationships and commercial manager And-rew Garwood will have responsibility for developing relationships through the wholesale channel.Neil Radley, managing director of First Plus, says: "Allwood has done a great job of making the First Plus wholesale business the success it is."

  • Are you concerned about the level of consumer debt in the UK?

    14 May 2007

    Matt Fraser, 26, actorThere is a big problem with debt in this country. Banks give too much money to people who can't afford it. They are the reason there is so much debt. They offer too many loans and credit cards that prompt people to get into trouble with stupid interest rates.

  • Assurant targets the Irish market

    14 May 2007

    Assurant Solutions is to enter the Irish insurance market with a range of flexible payment products including mortgage payment protection and protection deals for incomes and loans.

  • ATOM adds to its packaging panel

    14 May 2007

    All Types of Mortgages has made new appointments to its packaging panel at its first satellite packaging conference for 2007.

  • Back to the true meaning of sub-prime

    14 May 2007

    In case you're wondering, the US sub-prime market has not burned to the ground, at least not yet.

  • Be wary of checking into Hotel B2L

    14 May 2007

    When markets are growing, there is always the temptation for entrepreneurs to look for the next big thing or to give a new twist to an existing concept. We are seeing this in the buy-to-let sector, which has been booming for the past five years, with over 116bn advanced since 2002.

  • Beware the push for generic advice

    14 May 2007

    Although the subject has not received much attention, the momentum behind the concept of generic financial advice is steadily building.

  • BM brings capped rates to mainstream and self-cert

    15 May 2007

    BM Solutions has introduced capped rates to its mainstream and self-cert ranges.

  • BM launches three-year trackers

    14 May 2007

    BM Solutions has launched a collection of three-year tracker deals across its sub-prime and self-cert ranges. The products, starting at 4.99%, all include free valuation. They are available across all its near-prime ranges and will accommodate borrowers with up to £3,500 in County Court judgments.

  • Bridging shows dramatic growth

    14 May 2007

    The bridging market has grown more than 50% since 2000, figures from the National Association of Commercial Finance Brokers and Cheval reveal.

  • Brits spend £54K in a lifetime on moving costs

    14 May 2007

    The average Briton moves home between three and four times in a lifetime, spending a total of £54,000, research from Abbey reveals.

  • Brokers don't blame lenders for insolvencies

    14 May 2007

    A resounding 82% of Mortgage Strategy Online readers have absolved lenders of blame for the rising number of individual insolvencies. But 18% believe relaxed affordability criteria and stretched income multiples are causing insolvency problems.This week, Mortgage Strategy asks: "Should lenders keep brokers in the loop about their clients?" Q: Are lenders to blame for rising individual insolvencies?

  • Brokers exposed by higher borrowing

    14 May 2007

    The move by lenders to change the way in which borrowers' income is assessed by brokers is having wide-ranging and unforeseen consequences that could put brokers in a difficult regulatory position.

  • Brokers should research the best case submission routes

    14 May 2007

    From Doug Hall

  • Brokers urged to disclose GI commission

    14 May 2007

    Nick Kirwan, chairman of the Association of British Insurers' protection committee,has urged fee-charging brokers who arrange general insurance to disclose commission to their clients or risk breaching agency law.

  • Brokers win the mortgage challenge

    14 May 2007

    Recent national media coverage of the mortgage market has focussed on extracting the best value from products. The message has been that headline rates are not everything and that it is important to look at other aspects of products, in particular arrangement fees.

  • Brown promises eco-towns

    14 May 2007

    Gordon Brown has set out his plans to create five eco-towns as part of his initial goals for his premiership.

  • Brown refuses to back HIPs

    15 May 2007

    Chancellor Gordon Brown has reportedly refused to back Home Information Packs ahead of a crucial Commons vote on Wednesday.

  • Brown unchallenged for premiership

    17 May 2007

    Chancellor Gordon Brown will not be challenged in his bid to take over as leader of the Labour Party and Prime Minister on June 27 when Tony Blair steps down. Brown has long been plugged as Blair’s likely successor, with other contenders dropping out of the contest over recent years.

  • BTL makes up one fifth of broker business

    15 May 2007

    Prime buy-to-let mortgages now make up a fifth of financial advisers’ business, the latest research from Paragon Mortgages reveals.

  • Buy-to-let investors need more than luck

    14 May 2007

    The latest information from market research firm Mintel suggests that 2% of all British adults plan to purchase a buy-to-let property within the next three years. This works at about 900,000 people or 500,000 households.

  • Charcolonline.co.uk relaunches as charcol.co.uk

    15 May 2007

    Charcolonline.co.uk has relaunched as charcol.co.uk. Charcol has made some key additions to the existing functionality, tools and wizards, in the form of consumer guides, a glossary and up to the minute housing and mortgage news.

  • Cheshire appoints directors to board

    18 May 2007

    Cheshire has appointed Vanda Murray OBE and Ian Ross as non-executive directors to its board.

  • CHL offers 100% cover B2L deals

    14 May 2007

    CHL has launched two 100% rental cover buy-to-let products to target landlords more concerned with capital appreciation than rental yield.

  • CML Scotland hits out at single survey plans

    15 May 2007

    The single survey as envisaged in the Communities Scotland consultation paper will not completely remove the need for mortgage lenders to conduct their own valuations, says the Council of Mortgage Lenders Scotland.

  • Consumer confidence up

    14 May 2007

    The Nationwide Consumer Confidence Index rose two points in April to 90, its highest point since October 2006. The index reveals that consumers' expectations of house price growth rose in April, with expectations of a rise of 3.5% within six months - up from 3.2% in March.

  • Cover

    14 May 2007

    Lenders' service levels are Loften a bone of contention with brokers, so what better way to gauge the state of play than with a Mortgage Strategy survey.

  • CurriculumVitae

    14 May 2007

    name: Chris Maggs

  • D&D teams up with Lloyds TSB to launch insurance product

    15 May 2007

    D&D Homecare has teamed up with Lloyds TSB Insurance to launch a buildings and contents product for the intermediary mortgage market.

  • DCLG report house price inflation dip

    14 May 2007

    The Department for Communities and Local Governments has revealed that the UK annual house price inflation in March 2007 was 10.9%, down from 11.8% in February 2007.

  • Dear Delia

    14 May 2007

    Dear Delia My clients have paid off their mortgage and their combined pensions give them an income of £1,805 per month. Their son is struggling to buy a property. My clients have savings of £15,000 but he needs a £50,000 deposit. The house my clients bought for £40,000 20 years ago is now worth £500,000. Could they release equity from their home to help him? If they do, what rights will they hold over their property and will their son get any inheritance? Delia says: A lifetime mortgage ...

  • Disguised BTL fuelling repossession crisis

    15 May 2007

    The Financial Services Authority has found a high proportion of repossessions are on so-called disguised buy-to-let properties.

  • Dunfermline partners with LifeQuote

    17 May 2007

    Dunfermline is partnering with LifeQuote to offer life insurance products from nine different suppliers.

  • edeus launches tracker range

    15 May 2007

    Edeus has added 11 tracker products to its self-cert and buy-to-let ranges. In order to mitigate last week’s rate rise, edeus has dropped the rate on its 90% LTV two-year buy-to-let tracker by 0.25%.

  • Edeus poaches Nicola Severn from Beacon

    14 May 2007

    Edeus has poached marketeer Nicola Severn from Beacon Group after just three months in the job.

  • edeus reveals packaging panel

    14 May 2007

    edeus has revealed its new packager partners with the launch of its Premier Packager Panel. The packagers that have joined the panel include: BDS Mortgage Group, Chase UK, Complete Mortgage and Loan Services, Mortgagematch Home Loans, Opus Mortgages, Personal Touch Packaging, Pink Home Loans, Solent Mortgage Services, The Mortgage Partnership, Trafalgar Square Solutions. edeus is offering its Premier Partners the support of a packager team and free phone support helpline ...

  • edeus takes on board satellites

    17 May 2007

    Edeus has developed its system to allow satellite packagers which can be registered with immediate effect.

  • Emoffers free valuations

    14 May 2007

    Em-financial is offering free valuations, no application fees and free legals across the Beacon Homeloans range. The limited offer is available on loans of more than £150,000. All cases need to be in by May 31.

  • Enough of the paranoia - get set to welcome HIPs

    14 May 2007

    From Neal Smith

  • Estate agents sign up for scheme

    14 May 2007

    A month after the introduction of the Tenancy Deposit Scheme, more than 5,000 letting offices have registered. It is thought that this represents a significant proportion of agents in the private rented sector.

  • Evaluate to relaunch as free club for brokers

    14 May 2007

    Evaluate, Primrose Mortgage Processing's technology platform, is to be relaunched as a lender-financed free electronic mortgage club for brokers.

  • Experian acquires Tallyman Collections Software

    15 May 2007

    Experian, the global information solutions company has acquired Tallyman's debt collection management software and operations.

  • Experian buys software business

    14 May 2007

    Credit ratings agency Experian has acquired the Tallyman debt collection management software business and all its operations. Brian Dewis, chief executive of Tallyman, says: "Becoming a part of an international group like Experian will offer greater opportunities to extend the proven benefits of Tallyman."

  • Fairness is a word many firms don't understand

    14 May 2007

    They say all is fair in love and war, but this is far from the case in fin-ancial services.

  • Financial education a must, says Financial Services Practitioners

    17 May 2007

    The Financial Services Practitioner Panel has urged the government to make financial education part of the national curriculum. The statement was contained in the Financial Services Practitioner Panel Annual Report. It says: The Panel has always felt that the most effective way to make significant progress on financial capability would be through appropriate amendments to the national curriculum, a point it put strongly to Ed Balls MP, economic secretary to the treasury ...

  • Freedom bolsters ranks ahead of June rebrand

    14 May 2007

    Freedom Lending is gearing up for a massive recruitment drive ahead of its rebrand on June 25.

  • Freedom cuts tracker rates

    14 May 2007

    Freedom Lending has cut tracker rates by up to 0.25% across its range of prime deals. The cuts also include a lifetime tracker and a two-year tracker.

  • Friends Provident buys Sesame

    15 May 2007

    Friends Provident has bought Sesame from Misys for a whopping £75m.

  • FSA must lead from the front with self-analysis

    14 May 2007

    The Financial Services Authority is turning it-self into a principles-based regulator. It is leaving behind the prescribed rules that firms once had to comply with and is attempting to del-iver a system focussed on outcomes.

  • FSA sets new TCF deadline

    14 May 2007

    The Financial Services Authority has set a December 31 deadline for all firms to complete their work on Treating Customers Fairly.

  • FSPP calls for statutory financial education

    17 May 2007

    The Financial Services Practitioner Panel says it has strongly called on the government to make financial education part of the national curriculum.

  • FTBs spending more on repayments

    14 May 2007

    Higher interest rates are causing first-time buyers to spend almost a fifth of their income on interest-only mortgage repayments, figures from the Council of Mortgage Lenders reveal.

  • Future admits self-cert muddle lost it business

    14 May 2007

    Future Mortgages has admitted that confusion over its self-cert policy re-sulted in some brokers placing business with competitors.

  • GISecure unveils cover proposition

    14 May 2007

    GISecure, formerly Securah, has launched a buildings and contents insurance proposition underwritten by Fortis. David Hill, managing director of GISecure, says this deal is the result of talks that have been going on for some time.

  • Goldsmith Williams launches HIP

    16 May 2007

    Goldsmith Williams has launched a Home Information pack called GWHip.

  • Gov plays politics with housing market at its peril

    16 May 2007

    The Conservative shadow minister for housing has warned the government that it "plays politics with people's housing" at its peril in today's debate on the future of Home Information Packs.

  • Government accuses AHIPP of "scaremongering"

    17 May 2007

    The Department for Communities and Local Government has accused the Association of Home Information Pack Providers of scaremongering.

  • Government invests £500,000 in flood resilience home scheme

    15 May 2007

    A £500,000 funding package to help make vulnerable homes more resilient to the threat of flooding was revealed by Ian Pearson, minister for climate change and the environment .

  • Halifax data adds weight to market slowdown fears

    14 May 2007

    The housing market slowdown was reconfirmed last week at the same time as the Monetary Policy Committee voted to raise interest rates.

  • Healthy outlook

    14 May 2007

    Since its inception the buy-Sto-let concept has evoked extremes of opinion. On the one hand it is regarded as being responsible for all the ills of the property industry. On the other, its advocates insist that without buy-to-let activity the country's property market would have been in dire straits for the past few years.

  • Help your clients through the storm

    14 May 2007

    There have been a few apparently unrelated reports recently which, if you correlate them, could point to a financial meltdown. I know you're probably sat there thinking that I'm being melodramatic but consider the facts.

  • HIPs could save time and money

    14 May 2007

    Home Information Packs could cut duplication in information-gathering, saving consumers time and money, says the Association of Home Information Pack Providers. It says that under the existing process, a number of prospective purchasers can end up paying for the same information on a given property.

  • HIPs legislation set in stone

    17 May 2007

    The Royal Institution of Chartered Surveyors' judicial review is the only thing standing in the way of Home Information Packs.

  • HIPs to happen: First Analysis

    16 May 2007

    The industry was waiting with baited breath this afternoon for the result of a House of Commons vote which could have overturned Home Information Packs at the 11th hour.

  • Homeowners could lose £40m on home insurance

    15 May 2007

    Nearly half of all homeowners could be throwing money away by choosing their mortgage lender’s insurance, research by the Post Office has revealed.

  • House market efficiency at record low, says LMS

    16 May 2007

    LMS says that in the first three months of 2007 efficiency in the housing market has crashed to record-breaking lows.

  • House of Commons backs HIPs

    16 May 2007

    MPs have voted against annulling Home Information Pack regulations following a robust debate in the House of Commons.

  • House price hit for Aussie borrowers

    14 May 2007

    Fitch Ratings says late payments on Australian mortgages have being driven by deteriorating property prices. Its research shows that borrowers in New South Wales, which has suffered from weakening property prices, are more than twice as likely to be one month behind on their mortgage repayments as borrowers in Western Australia.

  • IFS launches TCF training pack

    14 May 2007

    The IFS School of Finance and Absolutely Training have launched a training package to help people in the financial services industry show they are committed to the principles of Treating Customers Fairly.

  • IFS stresses importance of financial education

    14 May 2007

    The IFS School of Finance says UK consumers are in desperate need of financial education, after research found that over 80% regularly overspend.

  • Inflation drops to 2.8%

    16 May 2007

    A drop in household gas and electricity prices saw inflation back down to 2.8% in April from its peak of 3.1% in March.

  • Inflation slows to 2.8% in April

    15 May 2007

    The UK's rate of inflation slowed to 2.8% in April after energy bills were cut.

  • Inflation to drop to 2.0% in 2008

    16 May 2007

    The Centre of Economic Business Research says the Bank of England’s inflation report released showed that it expects inflation to come down below the 2.0% target in 2008 without a further rate rise.

  • InterBay offers a fast-track commercial service

    14 May 2007

    InterBay Commercial has launched a fast-track mortgage service for commercial purchases.

  • Ipswich targets FTBs with discount mortgage

    14 May 2007

    Ipswich is offering a discount variable rate of 3.99% aimed at first-time buyers.

  • IT appointment at Platform

    14 May 2007

    Platform has made Graham Lee head of IT operations and telecommunications.He will report to IT director Mike Gannon.

  • It's rise and shine time for brokers

    14 May 2007

    This column will either be relevant or result in me getting egg on my face but I'm going to stick my neck out and say that we saw a rate rise last Thursday, pushing the Bank of England base rate to 5.5% - a level last seen in April 2001.

  • Jobs

    14 May 2007

    Nominated by: Jackie Davies, mortgage adviser, Mortgage Horizons

  • Keep us in the loop, say brokers

    14 May 2007

    Mortgage Strategy has kickstarted a campaign urging len-ders to keep intermediaries In The Loop when it comes to their customers' financial situations.

  • L&E launches new generation of title insurance

    14 May 2007

    London & European, insurance services provider has launched a new generation of title insurance product for mortgage lenders. It is the only title insurance policy that guarantees to protect the value of lenders’ assets in a portfolio, and deals specifically with electronic ID verification, increasingly being used by mortgage lenders to speed up the mortgage application process and enable real-time completions.

  • Labour members' thoughts turn to affordable housing

    14 May 2007

    Labour party members want affordable housing to be at the top of the policy agenda should it be re-elected at the next general election.

  • Landlords raise rent to meet rate hike

    18 May 2007

    Landlords have responded to the Bank of England's recent interest rate rise by passing it on to tenants.

  • Landlords see rising returns

    14 May 2007

    The number of landlords reporting a rise or a hold in rental income has hit a high of 97%.

  • Leeds launches buy-to-let tracker

    14 May 2007

    Leeds has launched a buy-to-let lifetime tracker deal at 6.24%. The product is available up to 80% LTV, has no higher lending charge and allows unlimited repayments at any time without notice or penalty.

  • Lehmans to merge brands

    14 May 2007

    Lehman Brothers is to merge its two second charge loan brands to create a stronger proposition for brokers.

  • Lender inertia may spur FSA to strike

    14 May 2007

    Brokers, here's an easy way to make the next business development manager who visits you squirm. You have listened to their pitch, understood their competitive advantages and been promised world-beating service and turnaround times in the blink of an eye. Sound familiar?

  • Lenders valuations still needed, says CML Scotland

    15 May 2007

    The single survey as envisaged in the Communities Scotland consultationpaper will not completely remove the need for mortgage lenders to conducttheir own valuations, says CML Scotland.

  • Let's make some money out of HIPs

    14 May 2007

    The National Association of Estate Agents is still whinging about the introduction of Home Information Packs. Its argument goes along the lines of - it’s not known what effect HIPs will have on the number of casual sellers putting their houses on the market.

  • Lib Dems attack Revenue & Customs' failings

    18 May 2007

    The government has revealed that Revenue & Customs failed to meet more than half of its objectives this year. The report says that R&C failed to make enough progress on six out of 10 objectives it set itself. Vincent Cable MP, shadow chancellor for the Liberal Democrats, says: This reports highlights massive failings within the R&C. Many of these failings look like they are the result of the chancellors decision to reduce the headcount at the department, while simultaneously ...

  • Lib Dems urge action on lending

    14 May 2007

    Liberal Democrat shadow chancellor Vince Cable says the rise in personal insolvencies and home repossessions shows the severity of this country's debt crisis. He has urged the government to introduce better financial education and act against irresponsible lending.

  • LMS sets out HIP pricing

    17 May 2007

    LMS has set the cost of its Home Information Packs from £249 for mortgage brokers and lenders who sign up with the company to provide their packs. This price is available for all freehold properties up to £500,000 where the cost of the HIP is paid at the time of commissioning and the home seller uses LMS’s conveyancing services. Without conveyancing the HIP cost for these properties is £299, and a funded HIP, with payment deferred for up to 11 months or until the sale, ...

  • MANC EXPO 2007: Act now on TCF, urges FSA

    16 May 2007

    The Financial Services Authority says its still not too late for brokers to turn “awareness into action” over Treating Customers Fairly.

  • MANC EXPO 2007: AFB slams regulators

    17 May 2007

    The Association of Finance Brokers has hit out at the Financial Services Authority, calling it a "regulator in a hurry".

  • MANC EXPO 2007: Ambulance chasers to target secured loans

    16 May 2007

    Jeanette Harwood, head of regulatory services at Walker Morris has warned the secured lending industry could see a wave of speculative compensation claims edged on by ambulance chasers.

  • MANC EXPO 2007: AMI calls for brokers to be kept in the loop

    17 May 2007

    The Association of Mortgage Intermediaries has called on lenders to keep brokers in the loop about their clients throughout the course of their mortgage.

  • MANC EXPO 2007: Audit trail for equity release and self-cert vital

    16 May 2007

    Brokers have been urged to use technology to help ensure they have an audit trail to protect themselves against future mis-selling scandals.

  • MANC EXPO 2007: Brokers slammed over poor protection sales

    17 May 2007

    Mortgage intermediaries have been criticised for their inadequate ability to sell protection insurance to clients.

  • MANC EXPO 2007: Brokers warned against foreign lead generation

    17 May 2007

    Andy Cowell, commercial manager at Leadbay, has warned brokers they could risk loosing money by using foreign lead generation firms.

  • MANC EXPO 2007: CML calls for a common language for sub-prime issues

    17 May 2007

    The Council of Mortgage Lenders has called for a "common language" to describe the sub-prime sector and has argued the industry needs to introduce standard definitions to make things clearer for consumers and intermediaries.

  • MANC EXPO 2007: Failings in PPI may drive income protection

    17 May 2007

    The income protection sector must get into shape if it is to take advantage of opportunities that arise out of the Competition Commission’s investigation into payment protection insurance, says Association of British Insurers Protection Committee.

  • MANC EXPO 2007: FSA says onus on brokers to check out compliance firms

    16 May 2007

    The Financial Services Authority spelt out to brokers at the Mortgage Business Expo in Manchester that it was up to them to check whether compliance firms are up to scratch.

  • MANC EXPO 2007: FSA urges firms to engage with its communications

    16 May 2007

    The Financial Services Authority has urged all smaller mortgage intermediary firms to engage with its communications and turn this engagement into action.

  • MANC EXPO 2007: FSA warns uncommitted firms to stay clear of equity release

    16 May 2007

    The Financial Services Authority has warned intermediary firms looking to enter the equity release to ‘stay out’ if they are not willing to commit significant resource and investment into their operations.

  • MANC EXPO 2007: TCF Forum urges big lenders to help small brokers

    17 May 2007

    The Treating Customers Fairly Lender Forum called for support from heavyweight providers in a bid to help brokers put their house in order.

  • MANC EXPO 2007: TCF Forum will soon see larger lenders on board

    16 May 2007

    TCF Forum, the non-profit website designed to offer brokers guidance in meeting the Financial Services Authority's Treating Customers Fairly requirements, will soon see larger lenders getting on board, the Council of Mortgage Lenders says.

  • MANC EXPO 2007: Wriglesworth slams short-term fix sellers

    17 May 2007

    Housing economist John Wriglesworth has called brokers who are still selling short-term fixes “a bunch of mis-sellers”.

  • Market Watch

    14 May 2007

    Swaps continued their upward spiral last week. One-year swaps broke through the 6% barrier. But with the base rate going up by 0.25%, swaps shouldn't increase too much. If the rate had gone up by 0.5%, it's likely we would have seen huge increases, which would have affected confidence in the housing market significantly.

  • Massaging the figures helps no-one

    14 May 2007

    I read with horror a story in the trade press about one broker's experience with self-cert mortgages. He was advised to enhance a client's income and job description to enable the case to go through.

  • Microsite for L&G club members

    14 May 2007

    GMAC-RFC and Legal & General have launched a microsite for L&G's mortgage club members and brokers.

  • Migrants to continue to fuel B2L, says Paragon

    15 May 2007

    Tenant demand for buy-to-let is going to be fuelled by rising numbers of migrants entering the UK to work, according to Paragon Mortgages. A third of landlords expect to see an increase in tenant demand due to a rise in the number of EU migrants, and a further 25% expect to see an increase in the number of migrants from outside the European community. Paragon says this will lead to further growth in the private rented sector as, according to Council of Mortgage Lenders figures, ...

  • Mole

    14 May 2007

    bust eD In-famous Mortgage Strategy editor Robyn Hall was rubbing shoulders with the Manchester United football team last week at the Chester races. He was there with Advantage's Kate Huet and together the pair embarked on a star-studded but luckless afternoon of betting.

  • Moneyfacts appoints chief executive

    16 May 2007

    Moneyfacts has appointed Paul Pester as chief executive officer of Moneyfacts Group.

  • Moneygate pledges £1m saving to customers

    16 May 2007

    National financial advisers Moneygate says its customers are set to save a total of £1m every month through its active mortgage management service.?The company claims it can achieve these savings by employing a team of dedicated advisers that operate real-time systems to constantly hunt for the best mortgage products. It adds that a service like this is not currently offered elsewhere.

  • Mortgage Express unveils new fixed rates

    14 May 2007

    Mortgage Express has launched a range of fixed rate products across its specialist lending range.

  • Mortgagesforyou reports surge in remortgage applications

    16 May 2007

    Birmingham based remortgage specialist mortgagesforyou has reported a sharp increase in remortgage applications during both quarters so far this year.

  • MPLC appoints marketing director

    18 May 2007

    Mortgages PLC has appointed Ian Whittaker as marketing director.

  • MPLC opens solicitor panel in NI

    16 May 2007

    Mortgages PLC has opened up its solicitors panel in Northern Ireland.

  • NAEA calls for free vote on HIPs

    14 May 2007

    The National Association of Estate Agents has called on Gordon Brown to engineer Labour a free vote on Home Information Packs.

  • Nationwide rejected my case because of spelling errors

    14 May 2007

    From Roger Snodin

  • Nationwide takes flak for stance on HLCs

    14 May 2007

    Nationwide has come under fire for urging rival lenders to stamp out their higher lending charges.

  • Nationwide to make UCB staff redundant

    14 May 2007

    Nationwide says it expects to make redundancies at UCB Homeloans following the planned merger with Portman.

  • Nationwide's net residential lending up 77.8%

    17 May 2007

    Nationwide’s net residential lending increased 77.8% to £11.2bn in 2006/07, giving it a market share of 10.1%.

  • Nothing to fear from secured loan regulation

    14 May 2007

    I was intrigued by a poll held by Mortgage Strategy Online recently that asked users to vote on whether secured loans should be regulated.

  • O'Brien quits PMPA to join Newcastle

    14 May 2007

    Jon O'Brien has stepped down from the position of operations director at the Professional Mortgage Packagers Alliance to join Newcastle.

  • Ombudsman ousts Birmingham estate agent

    17 May 2007

    Estate agent Atul Patel, with a two branch business in the Birmingham area, has had his membership of the Ombudsman for Estate Agents scheme cancelled. Patel had already been dismissed from membership of the National Association of Estate Agents following allegations last year over the handling of clients’ money and failing to keep proper records, both with regard to his property lettings activities. Patel had informed the OEA that he intended to end his lettings business ...

  • On the cusp of the commercial big time

    14 May 2007

    The commercial and buy-to-let mortgage markets have been two of the best performing asset classes in recent years. Of the two, the commercial sector may appear to be less accessible to brokers, but this is changing.

  • OpenBook signs HIPs network deal

    14 May 2007

    OpenBook has signed an agreement with Countrywide to provide Home Information Packs through its network of 1,073 offices. A spokesman for OpenBook, a Hometrack subsidiary, says: "The introduction of HIPs is arguably the biggest change for years in the way people buy and sell their property."

  • Our business model allows us to pay brokers top whack

    14 May 2007

    From Steve Walker

  • Over-30s face old age in thrall to landlords

    14 May 2007

    It's not surprising the Council of Mortgage Lenders has reported that first-time buyers are suffering more than ever while buy-to-let landlords find they have never had it so good.

  • paaleads.com celebrates birthday with free leads

    16 May 2007

    Lead distributor paaleads.com is celebrating its fifth birthday by offering every mortgage lead at £5 for one day only.

  • Packager Power

    14 May 2007

    Will Home Information Packs result in fewer properties for sale? How will HIPs affect packagers? Will the launch of the Land Registry's chain matrix enable faster completions? Which products could complement these developments?

  • Packagers predict sector growth

    14 May 2007

    Packagers are more optimistic about growth in the packaging sector than brokers, says the Intermediary Mortgage Lenders Association. Packagers forecast that the sector will grow by nearly a third over the next two years while brokers, predict growth of just 1%.

  • Paymentshield clarification

    14 May 2007

    Paymentshield would like to clarify that the Riding brothers left the firm in 2005 and not as result of its recent decision on trail commission, as was implied by an article in the April 30 issue of Mortgage Strategy.

  • Persistence paid off but brokers are left in the dark

    14 May 2007

    From Bob Adams

  • Personal Touch Packaging looking to buy up rivals

    14 May 2007

    Personal Touch Packaging is believed to be on the acquisition trail and looking to buy at least two small to medium sized packagers to expand its distribution base.

  • Pink signs up to eConveyancer HIPs

    14 May 2007

    Pink Home Loans has teamed up with eConveyancer, under the brand ehips, to offer Home Information Packs come June 1.

  • Plum offers discount to SimplyBiz members

    15 May 2007

    Plum Software is now offering its technology at a discounted rate to SimplyBiz member firms. Under the terms of the agreement, Simply Biz members will receive a 20% discount on all technology purchased from Plum Software. Ann Dempster, managing director of Plum Software, says: “We are pleased to be offering our market-leading software for front and back office of IFAs and mortgage brokers to the SimplyBiz network.

  • PMS sees £13bn in completions in Q1

    14 May 2007

    Premier Mortgage Service has re-ported a whopping £9.4bn in comp-letions and £13bn of applications in Q1 2007.

  • PMS slams equity release club

    16 May 2007

    Premier Mortgage Service has hit out at Equity Advice after it claimed its new equity release club could undercut PMS.

  • Prestbury Network appoints MortgageStream

    16 May 2007

    The Prestbury Network has appointed the MortgageStream case management system to support its business.

  • Principality appoints directors

    18 May 2007

    Principality has appointed Keith Brooks and Langley Davies as non-executive directors.

  • Principality ups its SVR

    16 May 2007

    Principality has raised its STV by 0.25% from 7.19% to 7.44% in line with the base rate rise.Discount product payrates and all product APRs have been revised as a result of the base rate rise to 5.5%.

  • Promise says small firms may evade regulation

    15 May 2007

    Promise Finance has warned that unscrupulous small brokers will be able to creep below the Financial Services Authority’s principles-based regulation.

  • Quality matters with packager panels

    14 May 2007

    I may not be the next Dick Tracy but I've done my fair share of mystery shopping and competitor research. Looking at one lender's website recently I was surprised to see how many packagers it dealt with. In fact, it would have been quicker for the lender to list those it didn't accept business from.

  • RAMP members outperformed market in March

    14 May 2007

    The Regulatory Alliance of Mortgage Packagers says that its members' completions in March were 5% higher than the Council of Mortgage Lenders' average.

  • Rate rise will hit B2L, say experts

    14 May 2007

    The Bank of England's decision to hike interest rates a further 25 basis points in May will lead to a buy-to-let slowdown, industry ex-perts warn.

  • RBS might swoop for ABN

    14 May 2007

    A Royal Bank of Scotland-led consortium is considering a whopping £50bn hostile bid for ABN Amro.

  • RICS to take HIPs to judicial review

    15 May 2007

    The Royal Institute of Chartered Surveyors has started proceedings for a judicial review against the Department of Communities and Local Government over its handling of Home Information Packs.

  • S&P unveils website aimed at brokers

    14 May 2007

    Select & Protect has launched an integrated and interactive website as part of the repositioning of its general insurance product range.

  • Self-cert needs a boost, says MEX

    14 May 2007

    Mortgage Express has urged brokers to educate consumers about self-cert after its research found that almost 50% of self-employed people have never heard of self-cert mortgages.

  • Should packagers be regulated by the financial services authority?

    14 May 2007

    Lack of regulation in the packaging sector could fuel apathy and mistrust in the rest of the industry.

  • Skipton fixed deals relaunched

    14 May 2007

    Skipton has relaunched its range of seven and 10-year fixed rate mortgages. Both ranges feature products from 5.49% at 75% LTV to 5.79% at 95% LTV.

  • Small mutuals dominate best buys

    17 May 2007

    Smaller building societies currently dominate the best buys for all two, three and five-year deals.

  • Stamp Duty levy will make Social Homebuy unworkable

    14 May 2007

    From David Castle

  • Statement of intent to end confusion

    14 May 2007

    Recently I've been spending time with business development managers. It has been great to catch up with some familiar faces and to make new connections.

  • Strong networks offer choice and will thrive

    14 May 2007

    There has been some commentary recently about network numbers, in particular continuing exodus trends and the decline of network models.

  • Take time out at the Expo in MS' Executive Lounge

    14 May 2007

    Brokers attending this year's Mortgage Business Expo Manchester can relax by visiting the Executive Lounge sponsored by Mortgage Strategy.

  • TBMC unveils record results for April

    15 May 2007

    The Business Mortgage Company has announced record results for the amount of business written in April, with £220m in applications.

  • Telling brokers some home truths about HIPs

    14 May 2007

    I have spent the past couple of weeks travelling the country pre-senting eConveyancer's Home Information Pack proposition to brokers.

  • Test case raises commission doubts

    14 May 2007

    You could be forgiven for missing the case of Wilson versus Hurstanger last month. It was never going to be national news, given that it involved a loan arrangement fee and commission of 240. But it could have far-reaching implications for brokers who charge fees and arrange insurance.

  • Thanks and goodbye to income multiples

    14 May 2007

    The death of income multiples lingers on. Many lenders now offer affordability calculators as they move away from traditional multiples which are increasingly seen as outdated.

  • This year's Mortgage Summit was the best yet and I look forward to next time

    14 May 2007

    From Roger Morris

  • Time out

    14 May 2007

    My Mercedes ML270 diesel is the best car I have ever driven. I say car but two-ton 4x4 might be a more accurate description, especially when I am trying to parallel park in a small space.

  • TML may launch broker offering after takeover

    14 May 2007

    TML Financial Solutions has been acquired by Customer Financial Solutions and is believed to be looking at expanding its distribution to the broker sector.

  • Trigold and Interbay launch commercial referral tool

    18 May 2007

    Trigold and Interbay have launched a commercial referral tool to Trigold users.

  • Trigold launches secured loans sourcing module

    15 May 2007

    Trigold has launched a secured sourcing module that will be integrated into its prospector AAA sourcing system and accessible to 25,000 Trigold subscribers.

  • Trustguard bolsters panel

    14 May 2007

    Trustguard Credit Services has added Money Partners to its panel of second charge lenders. It is the 13th lender to join the Cardiff-based packager's panel.

  • Try selling insurance on the internet

    14 May 2007

    Brokers are always keen to identify and leverage additional income streams to complement their core mortgage business. One established option is to sell insurance products, but this market is developing fast. The way consumers purchase insurance is changing and it's all down to the power of the internet.

  • UCB updates B2L and self-cert range

    14 May 2007

    UCB Home Loans has made a number of enhancements to its current range of buy-to-let and self-cert products.

  • Unity drops HLCs

    15 May 2007

    Unity Homeloans has dropped its higher lending charges on its prime, near prime and light prime range.

  • US investors keep their cool

    14 May 2007

    Investors remain confident that the US sub-prime crisis will not have a serious effect on the US economy, says Resolution Asset Management. It warns the US' sub-prime problems could trigger a round of credit tightening that would deliver a nasty jolt to markets.

  • Use the Expo to broaden your mind

    14 May 2007

    Research among IFAs and brokers shows there is a strong belief that equity release will realise its potential and become an important part of financial planning for people in this country. Repondents also say they are likely soon to become active - or more active - in the equity release market.

  • We must use client information wisely

    14 May 2007

    Look at any article about client retention and you will find listed the various mechanisms brokers can employ to keep clients coming back year after year, mortgage deal after mortgage deal. Much of this advice centres around the use of client databases and taking a proactive approach to client management - in essence, don't use your database as a filing cabinet never to be looked into but instead keep in contact with your clients.

  • Website to speed up conveyancing

    14 May 2007

    Conveyancing Alliance has unveiled its broker website, www.movewithcal. com. The site offers brokers end-to-end conveyancing, giving them the ability to obtain quotes and instruct solicitors in about one minute, then track cases with real time updates.

  • Whitehall launches finance academy

    14 May 2007

    The government has launched a National Skills Academy for Financial Services. Pilot-year students, training providers and leading financial services employers attended the launch of the academy, which was hosted by economic secretary Ed Balls and skills minister Phil Hope.

  • Win a fabulous Persian carpet worth 10,000

    14 May 2007

    Mortgage Strategy is offering you the chance to win one of two 10,000 silk Persian rugs that have been provided courtesy of edeus.

  • Yorkshire appoints head of marketing

    15 May 2007

    Yorkshire has appointed Nick Mortimer as head of marketing at based at its head office in Bradford.

  • Yorkshire appoints non-executive director

    15 May 2007

    Yorkshire has appointed Philip Johnson as a non-executive director.

  • Young workers struggle to cope

    14 May 2007

    Young workers are stretching their wages to meet the cost of living, ICM Research reveals. It says 54% have credit card bills, 86% have mortgage or rent repayments and 15% are repaying student loans.

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