Mortgage Strategy
15 September 2008

  • Cantor bets house prices will fall 19%

    15 Sep 2008

    House price betting firm Cantor Spreadfair is predicting a 19% fall in house prices by 2010. It says average house prices will fall to £141,500.

  • Lowest house sales since 1978

    15 Sep 2008

    Estate agents are reporting less than one sale a week, says the Royal Institution of Chartered Surveyors.RICS reports the lowest level of transactions since its survey began in 1978 - 12.7 over the past three months.

  • 1,000s of UK jobs could be at risk from potential merger

    17 Sep 2008

    Thousands of UK jobs could be at risk as a result of any possible merger between HBOS and Lloyds TSB.

  • 5D acquires InterBay Commercial

    15 Sep 2008

    InterBay Commercial was sold by its US parent Bayview Financial to rival UK commercial lender 5D Group for an undisclosed sum last week.

  • A fine time for us to go our own way

    15 Sep 2008

    When faced with a problem our government has never been dynamic or renowned as a provider of innovative solutions. And while the grey men at Westminster dither over how best to solve the liquidity crisis strangling the market, the rest of us are wondering whether what they come up with will be too little, too late.

  • A&L shareholders vote in favour of Santander takeover

    16 Sep 2008

    Alliance & Leicester shareholders have voted in favour of the proposed takeover by Banco Santander.

  • Abbey slashes 85% LTV rates

    15 Sep 2008

    From today Abbey for Intermediaries will slash its 85% LTV range by 0.6% and fees by up to £1,000. The lender is also rolling out five deals including a three-year 60% LTV fixed rate broker exclusive at 5.64% with a £995 fee.

  • AMI research shows value of advice

    15 Sep 2008

    Brokers complained vociferously about dual pricing in Q2 2008. At the time there was a wide differential in pricing between the deals available to brokers and those consumers could only access direct from lenders.

  • AMPD takes on new member

    15 Sep 2008

    Just Mortgage Packaging has joined the Alliance of Mortgage Packagers and Distributors. Liza Campion, product development manager at AMPD, says this is just the first of a number of additions.

  • AR firms at risk from limited PI cover

    15 Sep 2008

    Professional indemnity brokerage PYV is warning appointed representatives that they risk being left without cover if their network folds.

  • Bad apples hiding in AR firms must be exposed by FSA

    15 Sep 2008

    With so many well-publicised cases of fraud in the spotlight recently, the Financial Services Authority has rightly adopted a tough stance to root out malpractice.

  • Bad news for packagers as GEMHL increases rates

    18 Sep 2008

    GE Money Home Lending has increased its rates across its First National and igroup brands blaming exceptional volatility in global financial markets.

  • Bank of America snaps up Merrill for $50bn

    15 Sep 2008

    Bank of America has bought US investment bank Merrill Lynch for $50bn.

  • Banks set up $70bn international liquidity fund

    15 Sep 2008

    Ten of the world's largest banks are reported to have established a $70bn liquidity fund this weekend.

  • Barclays buys part of Lehman Brothers

    17 Sep 2008

    Barclays has acquired Lehman Brothers North American investment banking and capital markets businesses.

  • Barclays confirms bid for Lehman Brothers

    15 Sep 2008

    Barclays today confirmed it was in talks to take over part of Lehman Brothers but that it decided against it.

  • Barclays confirms interest in Lehmans broker business

    16 Sep 2008

    Barclays has confirmed it is in negotiations with Lehman Brothers to take on portions of the business that are attractive to Barclays shareholders.

  • Barclays confirms Lehman talks

    16 Sep 2008

    Barclays has confirmed it is in negotiations with Lehman Brothers to take on portions of the business that are attractive to Barclays shareholders.Areas that Barclays is thought to be considering include the Lehman Brother broker-dealer offering.The acquisition of this area could see up to 10,000 employees transferring to Barclays.Barclays says: "There can be no assurance that the discussions will result in an agreement. A further announcement will be made in due course."

  • BDS Secured increases sales team

    16 Sep 2008

    BDS Secured Loans has appointed two broker sales managers.

  • BDS signs bridging deal

    15 Sep 2008

    BDS Secured Loans has teamed up with Link Lending to provide bridging finance for its appointed representatives.

  • Beach volleyball courtesy of protection site

    15 Sep 2008

    Former Great Britain player Denise Austin was among the volleyball greats gathered at Great Yarmouth over the bank holiday weekend as part of the Volleyball England Beach Tour Grand Slam.

  • Best-buys drop by 0.5% in six weeks, says mform.co.uk

    16 Sep 2008

    Best buy rates have fallen by nearly 0.5% on average over the past six weeks, says mform.co.uk.

  • BetsForTraders.com: Potential for carnage is huge

    15 Sep 2008

    City bookmaker BetsForTraders.com says trader confidence has hit rock bottom.

  • Beware of dealing with First National and igroup

    19 Sep 2008

    GE Money’s 2 mortgage brands, First National and igroup, sent us emails yesterday evening saying that they were going to put two fingers up at the FSA’s mandatory Treating Customers Fairly (TCF) policy.

  • BoA buys Merrill Lynch for $50bn

    15 Sep 2008

    Bank of America has bought US investment bank Merrill Lynch for $50bn.

  • BoE extends Special Liquidity Scheme

    17 Sep 2008

    The Bank of England has extended its Special Liquidity Scheme until the end of January 2009.

  • BoE ignores liquidity pleas

    15 Sep 2008

    The Intermediary Mortgage Lenders Association has warned that appeals to the Bank of England to restore liquidity are continuing to fall on deaf ears.

  • Broker section in SHIP would benefit clients and industry

    15 Sep 2008

    When I read your recent news article about the launch of new equity release trade body Special Advice for Equity Release (Mortgage Strategy September 1), I felt compelled to comment.

  • Brokers confident about TCF

    17 Sep 2008

    Eight out of 10 brokers think they will have TCF embedded into their business and be able to prove it by the end of 2008, reveals a survey by Pink Home Loans.

  • Brokers say no market recovery until 2010

    15 Sep 2008

    Brokers and estate agents are in agreement that the property market will not fully recover until the end of 2010, reveals a poll from Easier2move.

  • Brokers should provide their clients with debt solutions

    15 Sep 2008

    I have been disturbed by recent comments echoing the siren call that brokers should not help clients faced with crushing debts by giving them the right advice when consolidation has already been ruled out.

  • Brown on kazoo, nobody on trumpet

    15 Sep 2008

    At last, the government's mortgage rescue package has been announced and what a surprise - it amounts to little more than window dressing.

  • C2 abandons packaging

    15 Sep 2008

    Industry pundits say C2 - Financial's decision to close its doors to mortgage business last week is a sign that the traditional packaging market could soon be a thing of the past.

  • CBI calls for rate cuts amidst weak growth

    15 Sep 2008

    Businesses are calling for a 0.5% rate cut against a forecast of the weakest growth since 1992, reveals the Confederation of British Industry.

  • Central banks club together to tackle funding

    18 Sep 2008

    The Bank of England is injecting $40bn into the markets as part of a combined effort across several central banks to tackle the pressures on funding markets.

  • Checkmate appoints non-executive directors

    18 Sep 2008

    Checkmate Mortgages has appointed Jeremy Sillem and Gerald Gregory as non-executive directors, prior to its launch in 2009.

  • Cleary says ML take over won't affect edeus

    15 Sep 2008

    The Bank of America buy out of Merrill Lynch this weekend will bear no impact on edeus.

  • Complete offers help to SMS staff

    18 Sep 2008

    Complete Mortgage and Loan Services has expressed support and sympathy for the directors and staff of neighbouring south coast packaging and distribution firm, Solent Mortgage Services, following its decision to cease trading.

  • Complete offers support to Solent

    18 Sep 2008

    Complete Mortgage and Loan Services has expressed support and sympathy for the directors and staff of neighbouring south coast packaging and distribution firm, Solent Mortgage Services, following its decision to cease trading.

  • Connect has messed me about with proc fee payment

    15 Sep 2008

    As a packager I've been a big supporter of Connect Mortgages for the past year.

  • Culture boon for Liverpool prices

    15 Sep 2008

    House prices in Liverpool have rocketed by 76% since the city was named European Capital of Culture five years ago, a title it took up this year.

  • Darling has over-egged the pudding

    15 Sep 2008

    Chancellor Alistair Darling's recent media outburst in which he stated that the UK faces the worst economic outlook in 60 years was nonsense. In the 1940s Britons faced petrol, clothing and food rationing and in the 1970s we suffered the three-day week and inflation hit more than 25%.

  • Diseased sector won't recover easily

    15 Sep 2008

    A sense of apocalypse pervades the financial services sector. Deleveraging is a scourge sweeping all before it. In the US, the seemingly immovable objects that were Fannie Mae and Freddie Mac have been unceremoniously shunted into government ownership.

  • EC predicts UK recession

    15 Sep 2008

    The European Commission has predicted the UK will be in recession by January 2009.

  • Edeus offers Portuguese prize

    15 Sep 2008

    Brokers who submit savings account business via edeus will be entered into a free prize draw for a four-night golfing holiday in Portugal. Alan Cleary, managing director of edeus, says: "Following the successful launch of our savings scheme, it's only right to thank brokers for their support."

  • Elephant Loans & Mortgages’s broker quits

    17 Sep 2008

    Elephant Loans & Mortgages has suffered another blow with its broker SVS Securities quitting.

  • Equity Advice launches Deal Buster campaign

    17 Sep 2008

    Equity Advice has launched a campaign that guarantees brokers a referral fee that is £100 more than all other equity release firms.

  • Equity release could fund long-term care

    19 Sep 2008

    Research from Retirement Plus reveals that one third of consumers would use money freed up by equity release to fund long-term care.

  • Evaluate improves lender systems

    15 Sep 2008

    Evaluate Technologies has improved its capacity management systems to help lenders manage resources, avoid product withdrawal issues and cut down the time taken to relaunch product ranges.

  • Evaluate to develop comparison system

    15 Sep 2008

    Evaluate Technologies says it is developing the next generation of consumer price comparison systems that can be white labelled and placed on brokers' websites.

  • Exclusive reappointed to lender panels

    16 Sep 2008

    Packager alliance Exclusive Connections has been reappointed to the panels of Kensington, Platform, Bristol & West and Money Partners.

  • Exclusive rejoins lender panels

    16 Sep 2008

    Packager alliance Exclusive Connections has been reappointed to the panels of Kensington, Platform, Bristol & West and Money Partners.

  • EXCLUSIVE: Financial customers lose faith in FSA

    19 Sep 2008

    Only 17% of financial services consumers are confident that the Financial Services Authority is effectively regulating the industry, the latest poll from YouGov reveals.

  • Fed bails out AIG

    17 Sep 2008

    The US Federal Reserve has bailed out beleaguered global insurer American International Group to the tune of $85bn.

  • Final nail in the coffin for the specialist sector

    15 Sep 2008

    Back in the sub-prime boom, Lehman Brothers and Merill Lynch were a packagers best friend and acted as the backbone to the specialist market and lenders funding.

  • Fingers crossed for GEMHL

    19 Sep 2008

    As the rest of the world suffered at the hands of the market turmoil in the US, it looked like the secured loan industry had escaped relatively scratch free, up until Thursday night that was.

  • Firms told to prioritise technology

    15 Sep 2008

    A case management firm is encouraging brokers, packagers and lenders to put technology at the heart of their businesses.

  • FISA revamps application process for FISAVal

    16 Sep 2008

    FISA, the secured loan industry’s self-regulatory and compliance body has altered its acceptance and application requirements for those firms wishing to join its surveyors’ panel, FISAVal.

  • Fitch puts HBOS and Lloyds on negative ratings watch

    18 Sep 2008

    Fitch Ratings has placed HBOS and Lloyds TSB on a negative ratings alert due to concerns that the merger will damage Lloyds’ credit profile.

  • From forest fire to wild fire

    18 Sep 2008

    The newspapers are dominated by the news of Lehman Brothers' collapse and the rescue of Merrill Lynch by Bank of America.

  • FSA cracks down on short selling

    18 Sep 2008

    The Financial Services Authority has introduced a new provision to prohibit the shorting of publicly quoted companies from midnight tonight.

  • FSA to minimise market disruption from Lehman closure

    15 Sep 2008

    The Financial Services Authority is working with London Clearing House and other market stakeholders to neatly wind up Lehman Brothers Holding in the UK.

  • FTB loans plunged in July

    15 Sep 2008

    The number of loans made to first-time buyers plummeted in July as lending criteria continued to tighten.

  • Gazunderers exploit falling house prices

    15 Sep 2008

    Industry professionals are warning that gazundering is making a comeback as property buyers take advantage of falling house prices.

  • GEMHL increases rates

    18 Sep 2008

    GE Money Home Lending has increased its rates across its First National and igroup brands blaming exceptional volatility in global financial markets.

  • GEMHL increases rates on secured range

    19 Sep 2008

    GE Money Home Lending has dramatically increased its rates across its secured loan products.

  • GEMHL reassures brokers

    19 Sep 2008

    GE Money Home Lending has confirmed it is here to stay and has no intentions of exiting the specialist mortgage market, after dramatically increasing its rates yesterday.

  • Goldman Sachs profits plunge by 70%

    16 Sep 2008

    Goldman Sachs, one of the two remaining Wall Street banks untouched by takeovers or public funding, has revealed a 70% fall in third quarter profits compared to this time last year.

  • Goldman Sachs shares yo-yo

    18 Sep 2008

    Goldman Sachs has seen its share prices roller-coaster over the past two days with values dropping as low as $99.12.

  • Gross lending declines in August

    18 Sep 2008

    Gross lending totalled an estimated £21.8bn in August, a 12% fall from July and a 36% fall from August 2007, show figures from the Council of Mortgage Lenders.

  • HBOS & Lloyds TSB

    18 Sep 2008

    Like many people in our industry, I have been glued to the screen watching the HBOS / Lloyds TSB news with avid interest.

  • HBOS and Lloyds in rumoured merger talks

    17 Sep 2008

    It has been reported by the BBC that HBOS and Lloyds TSB are in merger talks.

  • HBOS and Lloyds rumoured to be in merger talks

    17 Sep 2008

    The BBC has reported that HBOS and Lloyds TSB are in merger talks.

  • HBOS confirms it is in talks with Lloyds TSB

    17 Sep 2008

    The board of HBOS says that it is in advanced talks with Lloyds TSB which may or may not lead to an offer being made for HBOS.

  • HBOS had problems for weeks claims Darling

    18 Sep 2008

    Chancellor Alistair Darling has revealed HBOS has had problems for several weeks.

  • HBOS must renew £164bn in wholesale funding

    18 Sep 2008

    HBOS is rumoured to have been in talks with major UK banks to arrange funding for over £160bn in wholesale capital that must be renewed in the next 12 months.

  • HBOS' share price plunges 32%

    15 Sep 2008

    HBOS' share price has fallen a whopping 32% to 190p in early morning trading in the wake US investment giant Lehman Brothers filing for bankruptcy.

  • HBOS shares plunge by 50%

    17 Sep 2008

    HBOS shares continue to fluctuate for a second day as prices plummet by 50% to lows of 88p per share.

  • HBOS' stock rises by 40%

    19 Sep 2008

    HBOS' share price surged by a whopping 40% to 242p per share in early morning trading as UK banking stocks across the board surged.

  • Help for brokers to choose networks

    15 Sep 2008

    Peter Gwilliam, recruitment specialist for the mortgage industry, and PR guru Julian Wells have set up Adviser Matrix to help brokers search for a network. The service offers brokers a single point of contact and will court the market for them.

  • HML backup servicer for Capstone

    18 Sep 2008

    Homeloan Management says that as the backup RMBS servicer for Lehman Brothers in the UK, it could potentially have to take on more staff if Lehmans decides to dissolve Capstone Mortgage Services.

  • HML beefs up its management team

    17 Sep 2008

    Homeloan Management has boosted its credit and service teams with two key appointments.

  • Homebank on the acquisition trail

    17 Sep 2008

    National mortgage broker, Homebank Financial Services is actively seeking to talk to mortgage brokerages who wish to explore the possibilities of selling their business or a merger.

  • If one firm suffers we all do

    19 Sep 2008

    It has been a bad week for everyone in the financial markets, but especially for distributors.

  • IMLA hits out at extension of SLS

    19 Sep 2008

    Peter Williams, executive director of IMLA, says the Bank of England's decision to extend the term of its Special Liquidity Scheme is madness as it will exclude a lot of broker lenders.

  • Inflation rises to 4.7%

    16 Sep 2008

    Inflation has risen to 4.7% in August from 4.4% in July partially due to mortgage arrangement fees.

  • IOSCO calls for global regulation of ratings agencies

    17 Sep 2008

    The International Organization of Securities Commissions is seeking a global regulatory approach to monitoring the activities of ratings agencies.

  • Jupp to launch Savills Lending Solutions

    15 Sep 2008

    Savills Private Finance has recruited Rob Jupp to set up Savills Lending Solutions.

  • Just Retirement sales up 13%

    15 Sep 2008

    Just Retirement has reported a 13% rise in year-on-year sales to £763.5m. New business after tax rose to £42m.

  • King’s the top dog now

    16 Sep 2008

    When Sir Howard Davis, founding member of the Financial Services Authority was top dog at the regulator he liked to describe his role as Gordon Brown’s representative here on earth.

  • L&G bigwig joins Towergate

    15 Sep 2008

    Ben Thompson, managing director of Legal & General Mortgage Club, has revealed he is leaving the firm to join Towergate Partnership, the parent group of his previous employer Paymentshield.

  • Labour can screw up without trying

    15 Sep 2008

    Deep in the bowels of the Secret Intelligence Service's HQ, Agent Orange and her economic intelligence unit have been number crunching.

  • Landlords call for rent-back rules

    15 Sep 2008

    Nearly two-thirds of landlords polled by research firm BDRC believe sale-and-rent-back should be regulated. The survey of 500 landlords also found that 58% worry that such schemes will be misused by clients.

  • Leadbay trials life assurance leads

    15 Sep 2008

    Leadbay has begun a trial run of life assurance leads and expects a full rollout of the service in six weeks' time. Leads will be available for single or joint life cover plus term and whole of life assurance.

  • Lehman bankruptcy will prolong investor caution

    15 Sep 2008

    An industry consultant says the return of the debt trading market looks set to fade into the distance in light of the Lehman Brothers bankruptcy.

  • Lehman Brothers files for bankruptcy

    15 Sep 2008

    In a move set to send shock waves around the world US investment giant Lehman Brothers has today filed for bankruptcy.

  • Lehman declares bankruptcy

    15 Sep 2008

    In a move set to send shock waves around the world US investment giant Lehman Brothers has today filed for bankruptcy.

  • Lehmans and Merrill: First analysis

    15 Sep 2008

    After a weekend of bad news stateside during which Lehman Brothers finally fell, UK mortgage giants have already began feeling the crushing impact of the collapse.

  • Lehmans plans to dump UK mortgage assets

    15 Sep 2008

    Lehman Brothers is finalising a deal with BlackRock Financial to sell off the bulk of its UK residential mortgage assets, worth $4bn.

  • Lenders must not walk away from their responsibilities to identify fraud

    15 Sep 2008

    From Nick Baxter

  • Lloyds TSB buys HBOS for £12.2bn

    18 Sep 2008

    Lloyds TSB has bought beleaguered UK lender HBOS for £12.2bn.

  • Lloyds TSB must recognise its power says AMI

    18 Sep 2008

    Chris Cummings, director-general of the Association of Mortgage Intermediaries has welcomed the merger of HBOS and Lloyds TSB but says it must now recognise its power as the leader of the pack.

  • Loanmakers appeals for £1.86m cash injection

    16 Sep 2008

    Secured loan broker Loanmakers is looking to raise £1.86m in funding through existing shareholders.

  • Loans etc launches £299 flat packaging fee

    15 Sep 2008

    Loans etc has introduced a flat £299 fee charging structure for all application form only referrals for secured loan lenders, including First European, Link Lending and White Label.

  • Loans etc offers commission boost

    15 Sep 2008

    Loans etc is now charging a flat fee of £299 for all application form-only referrals from the secured loan lenders on its panel.

  • Losses take toll at Loan Line

    18 Sep 2008

    Accuma Group, the parent company of Loan Line has revealed the secured loan broker lost £196,000 in the first half of 2008.

  • Makeover for BM packager offering

    15 Sep 2008

    BM Solutions is boosting proc fees and launching an exclusive product range for packagers.

  • Market shocks speed up evolution

    15 Sep 2008

    And so it came to pass that Fannie Mae and Freddie Mac, the US' two largest mortgage consolidators, were effectively nationalised as their weaknesses in the face of $14.9bn in net losses posed an unacceptable risk to the US economy and by extension, the world's.

  • Market Watch 15/09/2008

    15 Sep 2008

    Swaps fell a bit but haven't changed much in the past few weeks. Three-month Libor edged down to 5.71%.

  • Markets crumble under weight of Lehmans insolvency

    16 Sep 2008

    US stocks plummeted yesterday as the market suffered through its worst day since 9/11.

  • Martin Gilsenan, sales director, Money Partners

    17 Sep 2008

    Money Partners is no stranger to moving with the times, since its Kensington owned days it has adapted its proposition and fallen into the lap of US investment bank Goldman Sachs, making it vulnerable to the fallout in the US market.Mortgagedistributor.co.uk speaks to Martin Gilsenan, sales director, Money Partners about its future in the specialist market.

  • Mawdsley quits The Mortgage Partnership

    19 Sep 2008

    John Mawdsley, managing director of Merseyside-based The Mortgage Partnership, today announced that he was hanging up his mortgage spurs - for the time being.

  • Mawdsley sells stake in The Mortgage Partnership

    19 Sep 2008

    John Mawdsley, managing director of Merseyside-based The Mortgage Partnership, today announced that he was hanging up his mortgage spurs - for the time being.

  • Meet Labour's new economic guru

    15 Sep 2008

    This week I can exclusively reveal that Prime Minister Gordon Brown's office will soon announce the appointment of David Beckham as the government's new economic guru. LA Galaxy is thought to have been paid £50m to release him from his contract, ensuring that he is free to sign for Labour. A job title has yet to be decided.

  • Merger sees mixed reaction from industry pundits

    15 Sep 2008

    Rob Clifford, chief executive of mortgageforce"It's a shame the Cheshire and the Derbyshire have gone but Nationwide is a class act and if any mutuals are seeking consolidation it is an obvious and sensible choice."

  • Mike Perry leaves HML

    19 Sep 2008

    Mike Perry, director of sales and marketing at HML has decided to leave the company.

  • Mike Perry quits HML

    19 Sep 2008

    Mike Perry, director of sales and marketing at HML has decided to leave the company.

  • Minister urges borrowers to take out secured loans

    15 Sep 2008

    Environment minister Phil Woolas has told the Lancashire Evening Post that home owners should borrow against their homes in order to pay for wall and loft insulation.

  • Money laundering rules make self-cert deals impossible

    15 Sep 2008

    Thank you for your feature on self-cert mortgages (Mortgage Strategy September 1). Nevertheless, I think it missed a major point that has been the subject of a conspiracy of silence in the trade press.

  • Moodys downgrades B&B

    16 Sep 2008

    Bradford & Bingley has been downgraded by Moody’s Investors Services in the face of weak capital and a dependence on funding from the Bank of England.

  • Moody's downgrades ''weakly capitalised'' B&B

    16 Sep 2008

    Bradford & Bingley has been downgraded by Moody’s Investors Services in the face of weak capital and a dependence on funding from the Bank of England.

  • Mortgages.co.uk plans proposition for brokers

    15 Sep 2008

    Mortgages.co.uk is set to launch a broker proposition in the coming weeks.

  • Mosaic Club looks to expand panel

    18 Sep 2008

    Following c2-financial's withdrawal from the mortgage market, Mosaic Mortgage Club is looking to appoint additional packager partners to it's panel.

  • MPC votes eight to one in favour of rate hold

    17 Sep 2008

    Members of the Monetary Policy Committee voted eight to one in favour of holding the base rate at 5% this month.

  • NACFB meets with Conservatives

    15 Sep 2008

    The National Association of Commercial Finance Brokers has met with with Mark Hoban, the shadow minister for the Treasury, and Patrick Fredrick, the Conservative business relations chairman for the South East.

  • Name Shame

    15 Sep 2008

    Last week The Sun tracked down Freddie Mackie - nicknamed Freddie Mac - in Glasgow and Fannie May - a vowel short of Fannie Mae - amid the dreaming spires of Cambridge.

  • National Debtline sees 30% increase in enquiries

    17 Sep 2008

    National debt advice charity National Debtline has seen a 30% increase from callers in mortgage arrears, and a 22% increase from those with second charge mortgage arrears in the last 12 months.

  • Nationwide may shut centres

    15 Sep 2008

    Nationwide is considering closing five processing centres in an effort to streamline its business. Centres in Swansea, Belfast, Southampton, Rayleigh and Sevenoaks are being assessed as part of the 30-day consultation. Nationwide has refused to comment on possible redundancies.

  • Nationwide must exercise power wisely

    15 Sep 2008

    It's been just over a year since Nationwide and its 14 million members celebrated the completion of its take-over of Portman.

  • Network signs Exclusive deal

    15 Sep 2008

    The Financial Network has signed an exclusive deal with Exclusive Connections giving the network's appointed representatives access to its whole of market offering.

  • New-build loans will fail to strengthen property chains

    15 Sep 2008

    Can't anyone else see that the government's proposed 30% interest-free loans for first-time buyers won't get the market moving? The simple reason is that the scheme will only apply to new-build properties.

  • No plans to leave the market says GEMHL

    19 Sep 2008

    GE Money Home Lending has confirmed it is here to stay and has no intentions of exiting the specialist mortgage market, after dramatically increasing its rates yesterday.

  • No plans to scrap HBOS brands says Lloyds

    18 Sep 2008

    Lloyds TSB has confirmed that it has no immediate plans to scrap any of the HBOS brands.

  • OFFICIAL: Lloyds TSB buys HBOS for £12.2bn

    17 Sep 2008

    Lloyds TSB has bought beleaguered UK lender HBOS for £12.2bn.

  • OFT looks into HBOS merger

    19 Sep 2008

    The Office of Fair Trading is looking for feedback over the merger of HBOS and Lloyds TSB.

  • OFT to investigate HBOS merger

    19 Sep 2008

    The Office of Fair Trading is looking for feedback over the merger of HBOS and Lloyds TSB.

  • Optimism over future of BM Solutions

    18 Sep 2008

    Packagers have dismissed fears that Lloyds TSB subsidiary Cheltenham & Gloucester will not have an appetite for sub-prime and self-cert business.

  • Panorama to tackle the credit crunch

    19 Sep 2008

    The BBC has torn up its original script for Monday night’s Panorama and will instead run a special edition entitled How Safe is your Money? following the turmoil in the financial markets.

  • Paper could lead to FSA rules

    15 Sep 2008

    The secured loan industry has moved one step closer to Financial Services Authority regulation after the Association of Finance Brokers published a White Paper on the future of the market last week.

  • Paradigm adds L&E to panel

    15 Sep 2008

    Paradigm Mortgage Services hasadded London & European to its conveyancing panel. The move means Paradigm members now have access to L&E's Complete Conveyancing product.

  • Paragon pulls out of buyout talks

    15 Sep 2008

    Paragon has revealed it has turned down an offer for the company for 125p per share and that it's terminated all current and potential talks regarding a buyout.

  • Paragon terminates buyout talks

    15 Sep 2008

    Paragon has revealed it has turned down an offer for the company for 125p per share and that it's terminated all current and potential talks regarding a buyout.

  • Penny starting to drop for mortgage brokers

    19 Sep 2008

    Despite the wave of recent bad news in the wider financial markets with the demise of Lehman’s and the problems facing Merill Lynch and AIG, are we finally starting to see some potential green shoots in the loans sector I wonder?

  • Pink adds Link Lending to bridging panel

    19 Sep 2008

    Pink Home Loans is boosting its bridging offering with the addition of Link Lending to its panel.

  • Pink boss calls for FSA regulation

    15 Sep 2008

    Neil Hoare, associate director of marketing and IT at Pink Home Loans, is calling on the Financial Services Authority to regulate secured loans. He says: "Pink has always held a strong view that the sector is becoming more regulated and that the secured loans industry should be a part of the advice process."

  • PMS announces equity release referral scheme

    15 Sep 2008

    Premier Mortgage Service has unveiled a referral scheme through equity release provider Age Partnership.

  • Preserve remnants of our finest hour

    15 Sep 2008

    A few months ago in deepest darkest Surrey, a home owner applied for planning permission to demolish a World War II pillbox standing in his front garden. Quite rightly in my opinion, Guildford Borough Council rejected the application and as a result the owner has appealed.

  • Prestbury set to transfer all ARs to PTFS

    16 Sep 2008

    Prestbury Holdings has revealed it will move forward with the transfer of all appointed representatives to Personal Touch Financial Services.

  • Prestbury's reputation under fire

    15 Sep 2008

    A former Prestbury sales director has accused its senior management of undermining the network's reputation as the company looks to close a transfer agreement with Personal Touch Financial Services.

  • Principality sees profits fall

    15 Sep 2008

    Principality has revealed pre-tax profits of £8.4m for the first half of 2008, a major drop from the £16.2m seen in the same period last year. Its unaudited group interim results show assets have increased by £437m to £6.29bn.

  • Promise bolsters lender panel

    15 Sep 2008

    Promise Solutions has added First European and an as yet unnamed lender to its sub-prime and self-cert panels. First European deals are available on an introducer or satellite packager basis.

  • Public interest used to get round competition rules

    18 Sep 2008

    The government will issue a public interest intervention notice to push the Lloyds TSB and HBOS merger through.

  • Rates on the rise again

    18 Sep 2008

    Mform.co.uk is predicting a lender U-turn on the recent rate cuts in the coming weeks.

  • Rescue Mission

    15 Sep 2008

    US moves to save Fannie Mae and Freddie Mac stand in stark contrast to our government's feeble efforts to resuscitate the market, says Christine Toner

  • Retirement Plus revamps website

    19 Sep 2008

    Retirement Plus has revamped its website to include additional equity release information, as well as an online calculator giving instant estimates of how much money clients could raise through equity release.

  • RIP Salt Finance and CMB

    15 Sep 2008

    Nationwide has absorbed the Cheshire and the Derbyshire's broker arms following its mergers with the mutuals last week.

  • Rumours link Nemo to Argos

    15 Sep 2008

    Nemo Personal Finance is believed to have won out as Argos' main supplier of secured loans. Central Trust is rumoured to have been appointed secondary partner and will get a percentage of the leads. Nemo would not comment on the rumours while Argos says the deal is still undecided.

  • Rural prices beat urban values

    15 Sep 2008

    The latest annual Halifax rural housing review has revealed the average house price in rural areas of the UK is 15% higher than in urban areas. Rural area prices average £235,324 compared with the urban figure of £204,290.

  • S&P frets over HBOS

    16 Sep 2008

    Standard & Poor’s has lowered its ratings for HBOS as the UK lending giant's share price tumbles to lows of 139p per share.

  • Sad day for Solent

    18 Sep 2008

    Solent Mortgage Services has appointed administrators to wind up the business. Paul Robinson, founder of SMS, which launched in 1989, says: "The business geared up for rapid rate of growth given the buoyant market conditions and built an infrastructure, i.e. people, technology, premises, and diverse distribution to facilitate this.

  • Santander rumoured to be bidding for BoI

    19 Sep 2008

    Santander is refusing to comment on speculation that it is considering making a bid for Bank of Ireland.

  • Santander rumoured to be looking at Bank of Ireland

    19 Sep 2008

    Santander is refusing to comment on speculation that it is considering making a bid for Bank of Ireland.

  • Savills Private Finance recruits Rob Jupp to launch Savills Lending Solutions

    15 Sep 2008

    Savills Private Finance has recruited Rob Jupp to set up Savills Lending Solutions.

  • Sellers twice as likely to use estate agent

    17 Sep 2008

    Home sellers are twice as likely to use an estate agent when selling their home than in 2007, says Moveme.com

  • Site launches secured loan deal

    15 Sep 2008

    Moneysupermarket.com has launched an exclusive secured loan product funded by Central Capital with an APR of 7.5%. It says secured loans are good options for clients with equity in their homes.

  • SLS extension a short term measure says AMI

    19 Sep 2008

    The Association of Mortgage Intermediaries has welcomed the extension of the Bank of England's Special Liquidity Scheme until the end of January, but says it can only be seen as a "stop gap" measure.

  • SMS offers extra commission

    15 Sep 2008

    Solent Mortgage Services is offering brokers commission fees of up to £50 or an additional 10% on business submitted via its online portal Porthole and its Solent Enquiry to Application System.

  • Solent Mortgage Services closes its doors

    18 Sep 2008

    Solent Mortgage Services has appointed administrators to wind up the business.

  • Solent shuts up shop

    18 Sep 2008

    Solent Mortgage Services has appointed administrators to wind up the business.

  • Some good news from the US at last!

    18 Sep 2008

    Freddie Mac reported today that the average rate for 30 year fixed rate mortgages fell further this week to stand at 5.78%, down from 6.35%just prior to the Fannie & Freddie nationalisation and the lowest rate since Feb 14. It said this was fuelling a boom in remortgaging, with remortgage applications up 58% from the mid August level.

  • Spare a though, no your pennies - save them

    16 Sep 2008

    As Meltdown Monday drags into Trembling Tuesday there are a lot ofpeople very angry that Lehman Brothers' collapse was allowed to happen in the manner it did.

  • TCF Debt Solutions revamps website

    19 Sep 2008

    TCF Debt Solutions has revamped its website following feedback from users who wanted a simpler interface with clearer navigation to key sections.

  • TCF helps brokers with self-cert sales

    15 Sep 2008

    As I was extensively quoted in Mortgage Strategy's recent feature on self-cert mortgages I thought I should definitively state my views on the subject.

  • The Ascent

    15 Sep 2008

    While the rest of the market is facing an uphill struggle to beat the credit crunch, Mortgage Brain chief executive officer Mark Lofthouse is climbing an altogether different mountain - Mount Kilimanjaro.

  • The Big One 2 - Banking Crises Explodes

    15 Sep 2008

    When the Credit Crunch devoured Northern Rock I remember going into the main office and saying "We are living through history guys", in the dramatic way that I tend to adopt sometimes.

  • The internet is vital for broker survival

    18 Sep 2008

    For brokers, the ability to communicate with clients using the internet is now vital for survival.

  • The Mound to be Scottish base of new group

    18 Sep 2008

    HBOS' main base of operations in Edinburgh, The Mound, will remain as Scottish base for enlarged group.

  • The Source joins Mortgage Intelligence GI panel

    15 Sep 2008

    The Source has joined the Mortgage Intelligence general insurance referral panel.

  • Thompson to stay on at L&G

    16 Sep 2008

    Legal & General has confirmed that mortgages director Ben Thompson will no longer be leaving the company.

  • Time to target professional landlords

    15 Sep 2008

    In recent months the pages of this magazine have been filled with advice from industry commentators about the need for brokers to diversify to survive the credit crunch. So it's good to see evidence that this is happening in two key areas, namely protection and buy-to-let.

  • TMA in talks to boost bridging offering

    16 Sep 2008

    The Mortgage Alliance is negotiating with several specialist providers in a bid to boost its bridging finance offering.

  • TMA ramps up bridging proposition

    16 Sep 2008

    The Mortgage Alliance is looking to ramp up its bridging finance proposition after entering into talks with a number of specialist providers.

  • Treasury Committee report tackles financial stability

    16 Sep 2008

    A report from the Treasury Committee has sought to address financial stability with a series of recommendations to preempt weaknesses exposed in times of financial crisis.

  • US officials working on rescue plan for banks

    19 Sep 2008

    US officials are understood to be working on a plan to help rid US banks of their bad debts.

  • US stocks plunge as Lehmans crumbles

    15 Sep 2008

    US investment and lending giants saw their share value plunge in opening trading off the back of Lehman Brothers' bankruptcy.

  • Vision signs up 600th member

    15 Sep 2008

    Vision Network now has 600 firms signed up to its offering.

  • Wave goodbye to promising recruits

    15 Sep 2008

    Whatever your views of the government's Stamp Duty move, at least it had one positive effect - ending speculation about the tax, which has had a negative effect on house sales.

  • We are here to stay says GEMHL

    19 Sep 2008

    GE Money Home Lending has confirmed it is here to stay and has no intentions of exiting the specialist mortgage or secured loan markets, after dramatically increasing its rates yesterday.

  • Website matches buyers to sellers

    15 Sep 2008

    Homeswapper.co.uk has launched a consumer service that connects prospective buyers with home owners looking to sell their properties.

  • What A Card

    15 Sep 2008

    While Mole is all for making the best out of a bad situation, it couldn't help but think greetings card firm Greetz.co.uk has missed the point.

  • Woolwich cuts fixed and tracker rates

    16 Sep 2008

    Woolwich is cutting rates on its fixed and lifetime tracker mortgages and is introducing an LTV tier of 75%.

  • Your shout

    15 Sep 2008

    My Client is likely to need bridging finance next month for about four weeks as he must buy his new home before the sale of his existing property is completed. Should I advise him against this in case the sale of his home falls through and he is stuck with an expensive bridging loan? If it goes wrong he will blame me but if he wants to go ahead, which are the best lenders to approach and what are the pitfalls?

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