Mortgage Strategy
15 January 2007

  • BDS to double in size this year

    15 Jan 2007

    BDS Mortgage Group signed up more than 100 appointed representatives in the past year. It has set itself a target of doubling in sizein 2007.

  • Commercial opportunity

    15 Jan 2007

    European commercial properties may become bigger money-spinners than UK alternatives, fund manager and property analyst Seven Dials predicts.

  • Half-price leads from Paaleads

    15 Jan 2007

    Paaleads.com is offering half-price mortgage leads until the end of February across its standard scheme.In 2005 and 2006 over 90% of registered brokers used the promotion, prompting the company to run the offer for a third year.

  • No signature required

    15 Jan 2007

    From today BM Solutions has removed its signed standard declaration requirement. The lender says it will be the first not to require a written customer signature for a mortgage to complete.

  • Pink exclusive with BM Solutions

    15 Jan 2007

    Pink Home Loans has launched an exclusive BM Solutions buy-to-let product with a rate of 4.94%. The product tracks the base rate minus 0.06% for two years and includes a refund of valuation to a maximum of £490.

  • Yorkshire unveils HomeBuy deal

    15 Jan 2007

    The Yorkshire has launched another Open Market HomeBuy product to include a fixed rate option. The product has a rate of 6.19% for the first five years, after which it reverts to the Yorkshire's SVR of 6.90%.

  • £485M extra for social housing

    15 Jan 2007

    The government is to pump nearly £500m more into social housing in 2007. Communities secretary Ruth Kelly unveiled further funding of £485m for Arms Length Management Organisations to invest in the social housing they manage on behalf of local authorities.

  • 25,000 consumers choose IFA for mortgage advice

    18 Jan 2007

    Over 25,000 consumers choose independent financial advice for their mortgage advice, says unbiased.co.uk.

  • 50P Right to Buy house is sold for 145,000

    15 Jan 2007

    A Newcastle man sold his house for 145,000 last week after the council sold him the property for 50p in 1999.

  • 74% of brokers predict a good year for the market

    16 Jan 2007

    A whopping 74% of Mortgage Strategy Online readers predict a buoyant year for the housing market in 2007. Just 26% of readers expect a downturn. Whether the number of pessimists will rise as a result of last week's base rate increase remains to be seen.This week Mortgage Strategy asks: "Will the housing market dip in 2007 as a result of last week's base rate rise?"

  • A percentage of life policies will always fall off the books

    15 Jan 2007

    From Russ Stein

  • Advantage appoints sales manager for Midlands

    16 Jan 2007

    Advantage has appointed Nick Parker as regional sales manager for the Midlands region.

  • AfI launches desktop alerts

    15 Jan 2007

    Abbey for Intermediaries is launching an instant desktop alert service today. The free service delivers news and product alerts direct to brokers' PCs.

  • AHIPP dismisses NAEA petition

    18 Jan 2007

    The Association of Home Information Pack Providers has dismissed the National Association of Estate Agents rebellion against Home Information Packs.

  • AHIPP launches HIP code of practice

    18 Jan 2007

    The Association of Home Information Pack Providers has launched a HIP code of practice, ahead of the mandatory introduction of packs on June 1 2007.

  • AIFA welcomes financial capability scheme

    15 Jan 2007

    The Association of Independent Financial Advisers has given its support to the governments financial capability scheme, which will see the launch of a national generic financial advice service.

  • AMI guidance on equity release

    15 Jan 2007

    The Association of Mortgage Intermediaries has published detailed guidance notes for brokers about advising on and arranging equity release deals.

  • Are lenders to blame for the UK's debt problems?

    15 Jan 2007

    Last year total secured lending on homes exceeded 1trillion while total personal debt exceeded 1.25trillion. Pundits have predicted slowing house prices coupled with interest rate rises in 2007, but as net lending continues to rise concern is mounting that borrowers are getting more and more into debt ... So this week Mortgage Strategy asks: Are lenders to blame for the UK's debt problems?

  • ARLA and NAEA merge to become NFPP

    16 Jan 2007

    The National Association of Estate Agents and the Association of Residential Letting Agents have merged to become the National Federation of Property Professionals.

  • B2L doing better than expected

    15 Jan 2007

    Fitch Ratings says default ratios on buy-to-let properties are performing better than expected. Charlotte Eady, associate director in Fitch's residential mortgage-backed security performance analytics team, says: "Recent headlines have suggested that buy-to-let properties are seeing higher default ratios than in previous years and are accounting for a significant proportion of repossessions. This contradicts the data we have analysed."

  • Barclays' CEO says bank won't enter high LTV market

    15 Jan 2007

    Barclays' chief executive officer John Varley revealed last week that the bank was "not interested in lending 5 x salary".

  • Barclays tops empathy table

    15 Jan 2007

    Barclays, under the Woolwich brand, has scored top place in the Harding & Yorke mortgage lender league table on customer empathy.

  • Barry Meeks new MD of Pink

    16 Jan 2007

    Skipton Group has today appointed Barry Meeks as the new managing director of its subsidiary Pink Home Loans.

  • BDM of the week

    15 Jan 2007

    Sarah Elson sorts out problems when she says she will, is not afraid to tell you when she knows you are wrong. She's also honest and a great person to work with, says Matthew Lee

  • BDS and Future offer brokers on-site service

    15 Jan 2007

    BDS has teamed up with Future Mortgages to provide inhouse mortgage offers.

  • Beacon Homeloans boosts residential mortgage range

    15 Jan 2007

    Beacon Homeloans has enhanced its residential mortgage range with best buy rates and expanded lending criteria.

  • Beacon relaunches fixed range

    15 Jan 2007

    Beacon Homeloans has enhanced its residential mortgage range with best buy rates and an expanded lending criteria. Interest rates on the fixed rate deals within Beacon Homeloans light, medium, heavy and fasttrack ranges have fallen and are now from 5.50% for the two-year fixed rate and from 5.40% for the three-year fixed rate products. Beacon Homeloans has also enhanced the criteria on several products, with the number of County Court judgements allowed on the light, medium ...

  • Blunkett calls on problem estates to be "bulldozed"

    19 Jan 2007

    Former home secretary David Blunkett has called on some problem housing estates to be "bulldozed".

  • BM Solutions joins Pink panel

    19 Jan 2007

    BM Solutions has joined the packaged panel of Pink Home Loans.

  • Bright Grey appoints customer service operator

    16 Jan 2007

    Bright Grey has appointed Gordon Watson, head of customer care operations, to assume overall responsibility for Bright Grey’s customer service and underwriting functions.

  • Britannia pledges to retain fixed rate mortgages

    17 Jan 2007

    Britannia Building Society has pledged not to take any of its fixed rate products off the market, despite the recent hike in interest rate.

  • Brokers are positive about AVMs

    15 Jan 2007

    Brokers are positive about the role of automated valuation models despite research from Pink Home Loans showing 10% have never heard of them.

  • Brokers are worth more than this

    15 Jan 2007

    It's about time lenders started valuing brokers more highly for the work they do, maybe paying them an hourly rate for the time they spend on cases, says Sue Read

  • Brokers launch first finance CIC

    17 Jan 2007

    Two former John Charcol brokers have launched Quotes4Charity CIC, the first financial services’ Community Interest Company.

  • Brokers, packagers and relationships

    15 Jan 2007

    An important FSA survey on the relationship between packagers and intermediaries may have been missed by some brokers but they should be aware of its conclusions, says Bill Warren

  • Call for FSA to focus more on smaller firms

    15 Jan 2007

    Industry figures have called on the Financial Services Authority to commit more resources to smaller firms and networks after a probe by the regulator raised concerns about a mis-selling scandal.

  • Change of attitude towards HIPs

    15 Jan 2007

    As the June 1 deadline for the implementation of Home Information Packs draws nearer, HIP provider The Partnership reports a change in attitude among estate agents. It says there is growing acceptance that the introduction of HIPs is looking more certain.

  • Chelsea changes fixed rate mortgage range

    18 Jan 2007

    Chelsea has changed its fixed rate mortgage products following the recent changes to the Bank of England base rate.

  • Cheval sales rose 55% during 2006

    15 Jan 2007

    Cheval saw net sales grow by 55% in 2006. It attributes this increase to its approach to bridging loans, with LTVs being seen as guidelines rather than obstacles.

  • Citizens Advice calls for good debt management advice

    19 Jan 2007

    The Citizens Advice Bureau has warned that the statistics revealed by the British Bank Association only prove further the need for good debt management advice.

  • Citizens Advice champions Governments financial capability strategy

    15 Jan 2007

    The Citizens Advice Bureau says the governments financial capability strategy could have a massive impact on UK consumers' ability to tackle debt.Teresa Perchard, policy director of Citizens Advice, says: There is a significant need to help thousands of people make the most of their money, both now and in the future. "This a real chance to tackle the 1.4m debt problems which poured into our bureaux last year.

  • CML reports record December gross lending

    18 Jan 2007

    Gross lending hit a new December record of 29.4bn, reveals the latest data from the Council of Mortgage Lenders.

  • Commercial First appoints associate director

    18 Jan 2007

    Commercial First has appointed Nick McAuliffe as associate director of customer operations.

  • Commercial First gets bond upgrade

    15 Jan 2007

    Commercial First has had two of its securitised mortgage backed bonds upgraded as part of a performance review of its transactions by ratings agency Fitch Ratings.

  • Commercial property shrugs off interest rate rise

    18 Jan 2007

    Commercial property along with equities and bonds will not be significantly impacted by the rise in interest rates, says Threadneedle Investments.

  • Council Tax bills to rise, warns Tory Party

    19 Jan 2007

    The Conservatives Party has warned that Council Tax bills will pass the 1,300 mark in the spring, just as new figures confirm that family incomes are falling in real terms.

  • Creative adds Scarborough to panel

    19 Jan 2007

    Creative Mortgage Solutions has added Scarborough to its panel of residential lenders.

  • CurriculumVitae

    15 Jan 2007

    "I love scuba diving and skiing, neither of which I do enough of."

  • DCLG launches new housing agency

    18 Jan 2007

    The government has unveiled proposals for a new agency to deliver regeneration and housing in a major shake-up of the way it supports the delivery of new homes and develops mixed, sustainable communities in England.

  • Deadline set for Countrywide inquiry

    15 Jan 2007

    The European Commission says the deadline for its inquiry into private equity group 3i's proposed 940m acquisition of Countrywide is February 8.

  • Dear Delia

    15 Jan 2007

    My clients want to take out an interest-only mortgage and switch to a repayment mortgage in a couple of years. They have been renting for over three years but are not first-time buyers. Both work in London and earn basic salaries of 35,000 and 30,000 respectively. They also receive bonuses and commission. They want to buy a home in the next couple of months and have savings of 30,000 but two County Court judgements, with the latest registered four months ago. Is this a wise option?

  • Development head for Network Data

    15 Jan 2007

    Network Data Holdings has appointed Terry Young as group director for commercial and strategic development. He will be responsible for identifying partnerships, acquisitions and strategic projects as well as planning and development activities.

  • Diamond Lifestyle to expand into sub-prime

    15 Jan 2007

    Diamond Lifestyle has unveiled plans to expand into the sub-prime mortgage market this year.

  • DLA Piper joins Reita

    15 Jan 2007

    DLA Piper has confirmed that they have become the latest member of Reita, the educational and awareness campaign behind the reita.org website.

  • Doom-sayers could be right this time

    15 Jan 2007

    In addition to welcoming a new year with exuberance and alcohol, many people see this as an opportunity to draw a line under the trials and tribulations of the previous 12 months and begin again with a clean sheet, a shed-load of good intentions and the sprightly step of renewed optimism.

  • E2M joins forces with Bananas

    15 Jan 2007

    Easier2move has linked up with mortgage packager Bananas Inc to provide a branded white label conveyancing service for its brokers. Karen Babington, sales and marketing director for E2M, says: We are delighted to be working with Bananas Inc to provide a high quality conveyancing service to its brokers and members.

  • Edeus delivers first 24-hour remortgage

    15 Jan 2007

    edeus has delivered the first 24-hour remortgage completion on its London & European instant funds service with John Charcol Associates.

  • EDGE reports 2,100 users

    17 Jan 2007

    Enterprise Group has revealed that its EDGE system now has over 2,100 registered users, and is receiving over 150 enquiries a day.

  • Em launches free legals on SPML

    15 Jan 2007

    Mortgage packager em- is introducing fee legals on all of Southern Pacific Mortgage Limited's' sub-prime remortgages in England and Wales.

  • Embrace Scottish sub-prime market

    15 Jan 2007

    Lenders and brokers could do more to cater for the growing demand in sub-prime mortgage products in Scotland if they understood the market better, says Mark Bergin

  • Exclusive sets up office in Belfast

    15 Jan 2007

    Exclusive Connections is setting up a branded office in Belfast. Managing director Matthew Arena says: "The Northern Ireland market is growing and the timing of the launch will benefit NI brokers and their clients."

  • First And Last

    15 Jan 2007

    Our first home was a modern-style three-bedroom terrace in North London. We bought it in the days before competition revolutionised the mortgage market, when even saving for 10 years with your local society didn't guarantee you a mortgage.

  • Fixed rate escape branded "false economy"

    17 Jan 2007

    Buying into a fixed rate deal to escape the threat of further rate rises could be a false economy, warns broker My Mortgage Direct.

  • Former NAEA president rallies industires against HIPs

    16 Jan 2007

    Trevor Kent, former president of the National Association of Estate Agents, is calling for a meeting of all of those in the property sales industry to present any problems concerning the introduction of Home Information Packs to the government. Kent says: "As of this moment there are just 94 working days before the government is set to foist upon an unwilling industry the most ill-conceived, ill-researched and ill-tested change to property sales law and practice that England ...

  • Freedom in £20m portfolio sale

    15 Jan 2007

    Freedom Lending has completed a £20m portfolio sale to Crocus Homeloans, a subsidiary of the Saffron.

  • FSA fines former ING firm

    18 Jan 2007

    The Financial Services Authority has fined a firm formally owned by ING 560,000 for widespread failings in its systems and controls resulting in poor accounting systems and inadequate client money protection.

  • FSS launches free registration

    18 Jan 2007

    Free registration has begun for the Financial Services Scotland 2007 event, which expects to attract more than 1,000 visitors.

  • GEMHL launches direct-to-broker range

    17 Jan 2007

    GE Money Home Lending has launched a direct-to-broker range through Mortgage Intelligence.

  • GMAC concedes growth claim was overstated

    15 Jan 2007

    GMAC-RFC has conceded that the claim that its business grew by five times the market rate in the past year was technically incorrect.

  • GMAC hits back at its B2L critics

    15 Jan 2007

    GMAC-RFC has defended its new buy-to-let product following criticism from lenders and brokers over its overhanging early repayment charges.

  • Government announces national financial advice service

    15 Jan 2007

    The government has launched its long-term approach to financial capability which includes designing a national generic advice service.

  • Government pins down meaning of zero-carbon

    15 Jan 2007

    The government has set out its definition of a zero-carbon emission home.

  • Government wheeze made me treat my client unfairly

    15 Jan 2007

    From Andrew Brownlie

  • Green joins Advantage

    15 Jan 2007

    Sara Green has joined Advantage as divisional sales manager to manage and develop packager business in southern England. She will report to business development director Jeremy Duncombe.

  • Gross lending hits record high, says BSA

    19 Jan 2007

    Building society mortgage gross lending hit a record high of nearly 53bn last year, reveals the Building Society Association.

  • Growing interest

    15 Jan 2007

    Brokers can ensure interest-only mortgages are not the next mis-selling scandal by making borrowers aware of the consequences of taking out these increasingly popular deals, says Stephanie SpicerBrokers can ensure interest-only mortgages are not the next mis-selling scandal by making borrowers aware of the consequences of taking out these increasingly popular deals, says Stephanie Spicer

  • Halifax Hispania reduces euro mortgage rates

    18 Jan 2007

    Banco Halifax Hispania has reduced the rate on its variable euro mortgageswith immediate effect.

  • Halifax reports 10,000 home insurance calls

    19 Jan 2007

    Halifax home insurance has reported over 10,000 calls to its helpline in 14 hours during the storms that hit the UK on Thursday.

  • Hamptons welcomes financial capability scheme

    15 Jan 2007

    Hamptons Mortgages has welcomed the governments financial capability strategy despite the recent shake-up of legal aid.

  • Handley to launch Truestone Private Finance

    15 Jan 2007

    Truestone Asset Management has appointed Ian Handley to launch its lending arm Truestone Private Finance.

  • Hanover appoints new chief executive

    16 Jan 2007

    Hanover House has appointed Bruce Moore as its new group chief executive, as it looks to further expand its services.

  • HBOS appoints head of mortgages

    17 Jan 2007

    Joe Higgins has been appointed head of mortgages at HBOS.

  • Heritable appoints marketing director

    15 Jan 2007

    Heritable Bank has appointed Alan Gilmour to the newly created role of marketing director. Gilmour was previously at Lloyds TSB and was responsible for the launch of the combined Lloyds TSB brand following the 1999 merger.

  • HIP website falls victim to net cull

    15 Jan 2007

    The official Home Information Pack website is to be scrapped just a year after it was launched as part of a major government website cull.

  • Home & Capital names CEO

    15 Jan 2007

    Home & Capital Trust has appointed Graeme Marshall as chief executive. Marshall was managing director of Home & Capital between 1998 and 2003. In October 2003 he resigned to develop Sovereign Reversions, financing elderly home owners through equity release. He remains chief executive of Sovereign.

  • Home finance will play a part in green future

    15 Jan 2007

    Climate change, and as a result green politics, has come of age. Last week saw at least one big news story per day on the environment.

  • Housing equity is three times mortgage debt

    15 Jan 2007

    Halifax says housing equity significantly outweighs mortgage debt, with UK private housing stock now worth £3.8trillion.This means housing equity is more than three times the value of the outstanding mortgage debt of £1.1trillion.The value of housing stock has increased by 78% in the past five years, rising by 12%, or more than £400bn, in 2006.

  • Housing market cools off in December, says RICS

    16 Jan 2007

    The rate of house price inflation has dropped off after Novembers rise in interest rates, latest research reveals.

  • I found the meaning of property value in Florida

    15 Jan 2007

    From Dave Rogers

  • I support the FSA's willingness to act

    16 Jan 2007

    In his speech at the Council of Mortgage Lenders annual conference Dan Waters, director of retail policy division for the Financial Service Authority, commented on the effectiveness of the Mortgage Conduct of Business rules so far.

  • IF acts on base rate rise

    19 Jan 2007

    Intelligent Finance is moving its SVR mortgages up to 6.65% from 6.30% which it says will ensure it remains a top four player in terms of competitive SVRs available.

  • IFA mistakes may lead to 48,000 in compensation, says FSCS

    16 Jan 2007

    Consumers can claim compensation of up to 48,000 if they have lost money as a result of their dealings with any one of 24 firms that the Financial Services Compensation Scheme has recently declared in default.

  • IFS launches equity release unit

    19 Jan 2007

    The Institute of Financial Services School of Finance has launched its certificate in equity release top-up unit.

  • Inflation prompted rate hike

    15 Jan 2007

    Rocketing inflation has been blamed for the Bank of England's shock move last week to increase interest rates by 0.25% to 5.25%.

  • Inflation rate rises to 3%

    16 Jan 2007

    The latest figures from the Bank of England reveal the UK’s rate of inflation to have leapt to 3% in December.

  • InterBay appoints three BDMs

    17 Jan 2007

    InterBay has strengthened its national sales team with the appointment of three new business development managers.

  • Intermediaries are not gay-friendly

    15 Jan 2007

    Lenders are considerably more gay-friendly than brokers when it comes to employment, according to a survey by Stonewall, the gay, lesbian and bisexual lobby group.

  • Kaszczak thought to have joined Lehmans

    15 Jan 2007

    Louis Kaszczak is believed to have joined Lehman Brothers in a senior mortgage group role.

  • Kent to call on NAEA to fight HIPs

    15 Jan 2007

    Former president of The National Association of Estate Agents Trevor Kent is to call on the general council of the NAEA to organise a united voice against Home Information Packs.

  • Know your clients or get to know the FSA

    15 Jan 2007

    The Financial Services Authority is on the warpath again.

  • KPL joins Trustguard's second charge panel

    15 Jan 2007

    Trustguard Credit Services has appointed Kensington Personal Loans to its second charge lending panel.Trustguard will have access to KPL's near prime to unlimited adverse range.Sian Brown, national sales manager at Trustguard, says: "Given that only a handful of packagers will initially have access to KPL products, this appointment is a testament to our extensive distribution and expertise."

  • L&G to host regional forums

    15 Jan 2007

    Legal & General is to host a series of regional business forums for its business partner firms. The annual events will take place in Manchester, London and Belfast on January 31, February 2 and February 6 respectively.

  • Labour perpetuates cycle of despair

    15 Jan 2007

    A key plank in the government's housing policy has been its encouragement of the development of mixed communities whereby people from all levels of society live side by side. But in practice this may be backfiring in many areas and merely helping to perpetuate the cycle of deprivation the policy seeks to address.

  • Labour rubbishes tax claim

    15 Jan 2007

    The government has rubbished claims by the Conservatives that local authority restructuring will lead to Council Tax increases.

  • Learning to trust automated systems

    15 Jan 2007

    The use of automated decisioning systems improves the consistency and speed of underwriting and the accuracy of data. It also facilitates volume lending. Perhaps you agree with me here, but thinking auto-decisioning is better is one thing and proving it is another.

  • Leeds looks to expand mortgage business

    17 Jan 2007

    Leeds says the feedback from brokers following its launch to the Irish market has prompted it to expand its mortgage proposition

  • Lehman Brothers promotes Hinshelwood

    15 Jan 2007

    Simon Hinshelwood has been promoted to the role of chief executive officer of Lehman Brothers Mortgage Capital in the UK and Ireland, effective from January 2.

  • Lehman confirms Kaszczak appointment

    16 Jan 2007

    Lehman Brothers has confirmed that Louis Kaszczak has joined its mortgage division, as exclusively revealed in Mortgage Strategy.

  • Lenders must outsource to compete

    15 Jan 2007

    Business process outsourcing is one way lenders will be looking to stay ahead of the game in 2007, with the focus on processing, administration and technology, says Frank Eve

  • Lepine firm asks to be struck off

    15 Jan 2007

    First Class Mortgages has applied to the Financial Services Authority to have its authorisation to carry out regulated activity withdrawn.

  • Lifetime mortgage advice not up to scratch, says FSA

    15 Jan 2007

    Despite improvements over the past year, firms still need to do more to improve the quality of their advice on lifetime mortgages, says the Financial Services Authority.

  • Loanoptions expansion prompts office move

    15 Jan 2007

    Loanoptions.co.uk has moved to larger premises as part of its phased expansion for 2007.

  • London leads the way in home repossessions

    15 Jan 2007

    A report from Fitch Ratings reveals London is leading the way when it comes to home repossessions growth.

  • MAB expands sale force

    15 Jan 2007

    Mortgage Advice Bureau has expanded its sales force with the appointment of a regional sales director for the Midlands and two area sales managers for the south of the UK.

  • Make big money

    15 Jan 2007

    This is a prosperous industry and there are several steps intermediaries can take to boost their earnings in the year ahead, says Richard Coulson

  • Make this the year of new brokers

    15 Jan 2007

    The increasing importance of brokers in the mortgage market must be matched by an increase in the supply of fresh blood entering the profession, says Sally Laker

  • Malone signs two-year deal

    15 Jan 2007

    John Malone has signed a new two-year contract with Bankhall that will see the grandfather of the industry remain at the helm of Premier Mortgage Service until at least 2009.

  • Marketwatch

    15 Jan 2007

    Swaps continued to rise, although at a slightly slower pace than before, resulting in a frantic week of fixed rates being increased. Last week saw a number of large lenders repricing.

  • Me and my car

    15 Jan 2007

    For years I hardly needed a car of my own but since I gave up the motoring freebies my Mini Cooper 1.3 has proved itself to be a genuine pile of rubbish, says Nick Gardner

  • MEX appoints new key account manager

    15 Jan 2007

    Mortgage Express has appointed Richard Freedman as a key account manager.

  • More debt, more need for protection

    15 Jan 2007

    Retailers' concerns about lacklustre spending in the shops over Christmas proved unfounded and the average Christmas outlay has been calculated at 700 per person.

  • More people plan to move to France

    15 Jan 2007

    Double the number of UK residents are planning to move to France this year compared with last, says VEF. And more UK owners of holiday homes in Europe and the US are predicted to sell up and buy in France as fears of aviation fuel surcharges grow.

  • MPLC extends

    15 Jan 2007

    valuations deal Mortgages PLC has extended its free valuations scheme. It will continue until the end of 2007.

  • MPLC joins L&G mortgage club

    15 Jan 2007

    Mortgages PLC has been appointed to the Legal & General mortgage club as part of a housing and insurance partnership arrangement. MPLC will be making its product range available to L&G members, along with its online on demand system.

  • NAEA posts anti-HIP petition to PM

    18 Jan 2007

    The National Association of Estate Agents has posted a petition on the Prime Minister's website calling for Home Information Packs to be scrapped.

  • NAEA reports buoyant festive period

    18 Jan 2007

    Estate agents saw average house prices in December rise to 216,055, revealing an unusually buoyant market during the festive period, says the National Association of Estate Agents.

  • Nationwide increases fixed rates

    17 Jan 2007

    Nationwide is increasing the rates on its range of fixed rate mortgages, which will apply from January 19.

  • Nationwide looks at client data fees

    15 Jan 2007

    Nationwide admitted last week that its 75 charge to brokers for client information is under review.

  • NatWest changes range

    16 Jan 2007

    Royal Bank of Scotland has made changes to its NatWest range of fixed rate, tracker and variable buy-to-let mortgages.

  • No premiums on AVMs, say brokers

    16 Jan 2007

    Some 69% of brokers say there should be no premium charge for the use of Automated Valuation Models.

  • Osborne blames Brown for inflation soaring

    18 Jan 2007

    The Conservative shadow chancellor George Osborne has pointed the finger of blame at Gordon Brown as inflation in Britain soars to a new 11 year high.

  • Overseas buyers take 90% of Oakwood

    15 Jan 2007

    Merrill Lynch and Italian investment firm Compagnie Industriali Riunite have finalised their 90% acquisition of Oakwood Financial.

  • Packagers stress importance of sub-prime

    16 Jan 2007

    Almost 90% of packagers polled by The Mortgage Business think the sub-prime is the most important market segment from their point of view and an area vital to future business.

  • Personal debt grows by 250,000 a minute

    18 Jan 2007

    The UKs national debt mountain is growing by 250,000 a minute, according to studies by Credit Action.

  • Pink in tie-up with Conti

    15 Jan 2007

    Pink Home Loans has struck a deal with Conti Fin-ancial Services as it looks to boost its presence in the overseas mortgage market.

  • Pitt leaving Kensington

    18 Jan 2007

    Brian Pitt has confirmed he is leaving Kensington Group and that the business will be now focussing on its core activities.

  • Portman appoints accounts manager

    17 Jan 2007

    Portman has appointed Jeremy Cook as its national accounts manager. Cook joins Portman and The Mortgage Works from Friends Provident where he was mortgage relationship manager, responsible for the mortgage, general insurance and packaging proposition. As national accounts manager, Cook will be responsible for managing and co-ordinating with mortgage clubs, networks and national intermediary connections. He says: I am delighted to have joined Portman and TMW at ...

  • Portman revises fixed rate range

    15 Jan 2007

    Portman has revised its fixed rate mortgage range following the recent rise in swap rates. The range includes a two-year fixed rate of 4.83%, or 5.59% with no arrangement fees and a three-year fixed rate at 5.25% or 5.49%, also with no arrangement fees.

  • Quick guide from Commercial First

    15 Jan 2007

    Commercial First has launched a quick reference product guide. This summarised version of the lender's brochure is intended to help brokers communicate criteria more effectively.

  • Rate rise "painful" for two-year borrowers

    19 Jan 2007

    The recent rise in interest rate will be particularly painful for mortgage holders coming off a two-year deal and hoping to remain on a new fixed rate, says a leading analyst.

  • Rate rise won't hit buy-to-let market

    15 Jan 2007

    The Association of Residential Letting Agents says the fundamentals of the buy-to-let market will remain unchanged despite last week's base rate rise to 5.25%.A spokesman for ARLA says: "Our research shows that the majority of buy-to-let investors make a long-term commitment that is measured in decades. Built into this approach is the knowledge that there will be rate rises and falls."

  • RBS launches dedicated intermediary website

    15 Jan 2007

    RBS Intermediary Partners has responded to broker feedback and launched a website that allows its partners to submit online applications for all four of its brands.

  • Relax Finance chooses xit2

    17 Jan 2007

    Relax Finance has chosen xit2s valuation exchange to provide the online system for its panel manger Gateway Surveyors.

  • Rental demand at all time high, says Paragon

    15 Jan 2007

    Research from Paragon Mortgages reveals that landlords believe tenant demand for rental properties is at its highest rate ever.

  • RICS to use xit2 system

    15 Jan 2007

    SAGA has created an equity release service for consumers.The service, in partnership with Just Retirement Solutions, includes a state benefit analysis to see whether equity release is the best solution.

  • Rogues should be named and shamed

    15 Jan 2007

    Do you ever ask your clients their star signs? No? Thought not. Well, for some reason last week I received a couple of pieces of research on how someone's star sign affects their attitude to finance, including overseas investments.

  • Seasonal slowdown "minimal" says Assetz

    18 Jan 2007

    Assetz says 2006's seasonal slowdown in the housing market was minimal despite rising interest rates.

  • Seminars on commercial deals

    15 Jan 2007

    InterBay is launching a series of seminars to advise brokers on commercial mortgages. They will help brokers develop a new income stream from commercial loans.

  • Smaller firms cause bigger problems

    15 Jan 2007

    The first press release of the year from the Financial Services Authority gives some idea about its intentions. Some 252 mortgage firms of differing sizes were mystery shopped and the resulting report makes interesting reading.

  • Some welcome help for small brokers

    15 Jan 2007

    We might have entered a new year but some aspects of our industry are not likely to change. The Financial Services Authority has built its regulatory procedures on a principles-based system and it seems unlikely that there will be a U-turn to a prescriptive system.

  • Still some work to be done on compliance

    15 Jan 2007

    The Financial Services Authority has regulated the industry since October 2004 and things seem to have bedded down nicely on the whole.

  • Strangely quiet on equity release front

    15 Jan 2007

    It's two weeks into 2007 and we've seen no movers in the equity release market yet. This is unusual as January tends to herald some jockeying for position. The market still shows signs of reasonable stability, which makes research more consistent.

  • Swift boosts lending limits

    18 Jan 2007

    The Swift Group has increased its lending limits up to 75% LTV to 750,000.

  • Taking a fresh look at secured loans

    15 Jan 2007

    To put into perspective the reason why brokers should be considering secured loans, according to Datamonitor the loans market will be worth 50bn by 2008.

  • Technology is fine but speed isn't everything

    15 Jan 2007

    I think most people in the industry would pass on their congratulations to the likes of GMAC-RFC and edeus for the technological innovations they have brought to the market.

  • TFC offer free application on sub-prime

    16 Jan 2007

    TFC Homeloans is now offering free applications and valuations on its sub-prime range.

  • The ber-packagers get serious

    15 Jan 2007

    Kevin Paterson takes a weekly look at the latest developments in the market and brings you what's hot and what's not in the world of mortgages

  • The industry needs to hear the truth if we are to stop sales of MPPI falling

    15 Jan 2007

    From Thomas Reeh

  • The Mortgage Mole

    15 Jan 2007

    Lend a hand

  • This ban should be a lesson to us all

    15 Jan 2007

    The news last week that a broker has been banned by the Financial Services Authority from performing any function in relation to a regulated activity will sound alarm bells across the industry.

  • This Week's Dilemma

    16 Jan 2007

    The buy-to-let sector is growing at an unprecedented rate and reports indicate that landlords and residential purchasers are often competing for properties. With first-time buyers increastingly finding property too expensive, are we unwittingly forcing people to rent because they can no longer afford to buy? Could all this collapse around our ears when the buy-to-let sector eventually implodes?

  • This will be a good year for B2L brokers

    15 Jan 2007

    Council of Mortgage Lenders statistics show buy-to-let mortgages continued to thrive in 2006. Social factors such as the growing tendency towards single-person households, the increase in immigration and the difficulties of first-time buyers have all led to a sustained need for rental properties. So the demand for buy-to-let mortgages in 2006 was substantial.

  • Time to take key decisions about HIPs

    15 Jan 2007

    There are just over four months to go until Home Information Packs become compulsory. Based on many conversations I had at the end of 2006 I am sure that few intermediaries are ready to take advantage of the commercial opportunity HIPs will bring.

  • Tiner to step down as FSA chief

    16 Jan 2007

    John Tiner, chief executive officer of the Financial Services Authority, says he intends to step down in July of this year.

  • Title Deed

    15 Jan 2007

    Mortgageforce is a well known name in the industry, but in the beginning there was some debate about whether it was right for the company.

  • Tony Jones to relinquish AMI board position

    18 Jan 2007

    Tony Jones has revealed hell be relinquishing his position on the board of the Association of Mortgage Intermediaries following his departure from Pink Home Loans.

  • Tories raise fears about economic outlook

    18 Jan 2007

    Senior Conservative Party ministers have expressed concern about Britain's economic outlook following publication of new statistics showing that prices are outstripping earnings while the jobs market is stagnating.

  • Trustmark appoints board directors

    15 Jan 2007

    TrustMark has appointed Sharon Darcy and Frank Bertie to its main board of directors.

  • Tudor launches online applications

    17 Jan 2007

    Tudor has revealed that it now offers online applications for over 20 of its lenders.Jason Rogerson, managing director of Tudor, says: Technology developments are the key to packagers and distributors prospering over the coming year or two. "Those companies that dont grasp technology with both hands simply wont survive.From a practical point of view we are rewarding introducers with an additional 50 bonus on completion of the mortgage for every fully completed on line application

  • Two big lenders shun Expo

    15 Jan 2007

    BM Solutions and Bristol & West will not be participating in this year's Mortgage Business Expo because they don't consider it to be good value for money.

  • UK lenders warm to securitisation

    15 Jan 2007

    Securitisation is becoming more mainstream in the UK. For the uninitiated, this is a form of asset-backed finance whereby a lender can refinance mortgage assets by pooling them and selling them on to investors through a special purpose vehicle in the form of residential mortgage-backed securities.

  • Uneasy questions of network influence

    15 Jan 2007

    A growing debate surrounds the influence networks have over appointed representatives.

  • Uswitch teams up with Channel 4 presenter to help combat debt

    17 Jan 2007

    To help combat the January spending hangover, uSwitch.com has teamed up with financial expert Cesarina Holm Kander, presenter of Channel 4s Your Money or Your Wife.

  • Victoria reveals product relaunch

    16 Jan 2007

    Victoria is withdrawing its entire current product range with effect from January 29, with new pricing on January 22.Cases under the withdrawn range must have been submitted by the end of January 29, with fully packaged cases ending February 12.The timetable for withdrawal of the winter special product is unchanged. All winter special cases must be fully packaged by January 31.

  • We should be bold enough to charge our clients fair fees

    15 Jan 2007

    From Lee Martin

  • What would be the most beneficial outcome of this year's inaugural packager summit?

    15 Jan 2007

    Packagers working together and lenders listening to their point of view would be worthwhile results of the summit, say our experts

  • Why the BoE had to raise interest rates

    15 Jan 2007

    Last week's decision by the Bank of England to add another 25 basis points to the base rate caught most of the market on the hop and caused even more misery for overtaxed home owners across the UK, coming at a time when statistically fewer people can afford it.

  • Yorkshire to focus on five and 10-year fixed rates

    16 Jan 2007

    Yorkshire Building Society was deluged last weekend with over 400 requests for five and 10-year fixed rate mortgages, following the Bank of Englands hike in the rate of interest.

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