Mortgage Strategy
16 June 2008

  • Mortgage deals plummet

    16 Jun 2008

    The number of mortgage products on the market has plummeted by 3,000 in May, Trigold reveals. Its June product index shows the number of deals fell by 17% last month. The sourcing system now features 13,992 products, down 2,926 on April and 9,045 on March.

  • 2009 will see slowest growth for 17 years, predicts CBI

    16 Jun 2008

    Rising commodity costs and weaker consumer demand will force next year’s economic growth to the lowest rate since 1992, warns the Confederation of British Industry.

  • 57% of brokers still not using back-office systems

    20 Jun 2008

    A survey by Mortgage Brain has revealed that 57% of brokers are still not using back-office systems to manage their business.

  • A last opportunity to get HIPs right

    16 Jun 2008

    The government has a great opportunity to sort out the problem of Home Information Packs. The heated debate surrounding the launch of HIPs has subsided and the market is going through a dip so this is an ideal time to take another look at HIPs before first-day marketing exemptions are withdrawn on January 1 next year.

  • A wii bit painful

    16 Jun 2008

    They say that exercise is good for you but Tony Sutton, managing director of Independent Specialist Finance, might disagree.

  • A&L launches ifax software to help brokers

    19 Jun 2008

    Brokers can now send packaging cases more quickly to Alliance & Leicester’s intermediary mortgage centre thanks to the lender’s new ifax software.

  • Abbey rejects survey findings

    16 Jun 2008

    Abbey has hit back at a survey that claims it returned the lowest customer satisfaction scores for mortgages and current accounts.

  • Advice top of AMI's agenda

    16 Jun 2008

    The Association of Mortgage Intermediaries says its consumer campaign to promote the value of mortgage advice will be its most important venture this year.

  • Advisory partnership

    16 Jun 2008

    The Business Debt Advisor is to form a strategic partnership with Acorn Money Management. The advisory service is making the move to widen its scope in flexible forms of finance.

  • AfI appoints divisional sales director

    17 Jun 2008

    Abbey for Intermediaries has appointed Sue Carvell to the role of divisional sales director.

  • AIFA appoints policy chief

    16 Jun 2008

    The Association of Independent Financial Advisers has appointed Andrew Strange to the new position of policy director.

  • AMI to protect brokers over dual pricing complaints

    18 Jun 2008

    The Association of Mortgage Intermediaries is keeping records of what the Financial Services Authority and the Financial Ombudsman Service have said over dual pricing, in case brokers face complaints in the future.

  • Are falling house prices encouraging you to get on the property ladder?

    16 Jun 2008

    House prices are falling, with Hometrack reporting a drop for the eighth consecutive month in May. Nationwide and the Council of Mortgage Lenders say first-time buyers may return to the market as affordability improves. Lenders and trade bodies also reveal that property investors are picking up bargains.

  • Are secured loan firms encouraging staff to sell more PPI because of the credit crunch?

    17 Jun 2008

    As belts are squeezed tigher because of the credit crunch, a lot of secured loan firms are looking at every possible way to increase revenue.So, Loandistributor.co.uk asks Barney Drake, operations driector at y3s Loans, and Patrick Bamford, managing director of UNIFI Partners whether they think this has led to more firms advising staff to sell PPI.

  • AToM appoints BDMs after 50 apply

    17 Jun 2008

    All Types of Mortgages has appointed two BDMs after a response of more than 50 applications to its recruitment drive.

  • AToM appoints two BDMs

    17 Jun 2008

    Mortgage Distributor, All Types of Mortgages has taken on two business development managers, following an overwhelming response to its recent recruitment drive for regional business development managers. Andrew Hart and Kenny Smith have been appointed as regional business development managers by AToM, selected from over 50 applications. Hart was previously an independent Financial Adviser, while Smith joins from Goldsmith Williams.

  • Average first-time buyer put down 13% deposit in April

    18 Jun 2008

    The Council of Mortgage Lenders' mortgage completions data shows that monthly lending volumes are lower than last year’s.

  • Banks underwrite B&B issue

    16 Jun 2008

    The top five UK banks will sub-underwrite Bradford & Bingley's revised rights issue. The deal will see Lloyds TSB, Barclays, HSBC, Royal Bank of Scotland and HBOS each buy £20m of B&B shares if the rights issue falls through.

  • Barclays considers rights issue

    16 Jun 2008

    Barclays has today confirmed its plans to consider a rights issue.

  • Barratt denies rights issue rumour

    16 Jun 2008

    Barratt Developments is denying that a rights issue is on the cards despite growing media and market speculation about its debt.

  • Base Commercial introduces text messaging service

    18 Jun 2008

    Specialist commercial mortgage lender, Base Commercial Mortgages, has introduced a text messaging service for brokers.

  • BBA to change LIBOR rules

    16 Jun 2008

    The British Bankers' Association has unveiled plans to change the governance of LIBOR. It plans to reinforce the scrutiny of its contributor banks and expand the membership of its governing body and panel. The changes will see tighter scrutiny of the rates offered by banks so that individual members must justify any discrepancies.

  • BBC negative equity figure called into question

    16 Jun 2008

    Claims that more than 23,000 home owners face negative equity are inaccurate and have not been placed in context, industry experts claim.

  • BBC report on 100% LTV deals distorted facts and could have dire consequences

    16 Jun 2008

    Last week's BBC report on 100% LTV mortgages made me cross. Again, Northern Rock was mentioned as one of the lenders that offered deals at 100% LTV or more to borrowers without mentioning that part of these loans were unsecured. There must be plenty of borrowers with mortgages of 95% LTV or below whose unsecured borrowing by way of credit cards and loans takes their total debt above the value of their properties.

  • BDS teams up with Guardian Debt Management

    16 Jun 2008

    BDS Mortgage Group has unveiled its plans to link up with Guardian Debt Management.

  • BDS to cut up to 15 jobs

    17 Jun 2008

    BDS Mortgage Group is to cut around 15 jobs under changes to its organisational structure.

  • BDS to make job cuts

    17 Jun 2008

    BDS Mortgage Group is to cut around 15 jobs, but says it remains committed to the intermediary market.

  • Bear Stearns managers indicted for fraud and conspiracies

    20 Jun 2008

    Two Bear Stearns hedge fund managers have been indicted for fraud and conspiracies as part of an investigation by the FBI and the US Department of Justice.

  • Blind leading the blind?

    17 Jun 2008

    I live by a motto - never trust an expert. That’s based on the premise that we always know less than there is to know.

  • Bob Young, managing director, CHL Mortgages

    20 Jun 2008

    CHL Mortgages withdrew from the residential and buy-to-let markets this year, but has pledged to return later in the year.

  • BoE considered raising interest rates at last meeting

    18 Jun 2008

    Minutes from June's Bank of England's Monetary Policy Committee show some members considered raising rates in a bid to slow inflation.

  • BoE deputy governor steps down amid banking reforms

    19 Jun 2008

    Bank of England deputy governor Sir John Gieve is to step down amidst radical plans from the Treasury to overhaul regulation and BoE management.

  • BoE faces toughest challenge in over 10 years

    19 Jun 2008

    Bank of England governor Mervyn King has revealed the central bank is now facing its most challenging time in over a decade.

  • Bridging loan provider's enquiries rise by 50%

    16 Jun 2008

    Bridgingloans.com has revealed enquiries about its products increased by 50% in Q2 2008 compared with Q1.

  • Bristol and West withdraws fixed products

    20 Jun 2008

    Bristol and West is to withdraw a number of products from its core range.

  • Britannia, HBOS and Yorkshire downgraded

    20 Jun 2008

    Major lenders Britannia, HBOS and Yorkshire have had their ratings outlooks downgraded following a review by ratings agency Standard & Poor's.

  • Brokers add value on 1m-plus deals

    16 Jun 2008

    Private banks are still willing to lend big money to rich clients and brokers with the right contacts can help customers access the best deals and negotiate competitive fees, says Mark Harris

  • Brokers can be arrears counsellors

    16 Jun 2008

    It was interesting trying to judge which way the Bank of England's Monetary Policy Committee would vote at its June meeting on the base rate.

  • Brokers can still help their NR clients

    16 Jun 2008

    Is the latest announcement from Northern Rock a slap in the face for brokers or something which can be shrugged off as irrelevant?

  • Brokers must not be caught out by whole of market rules

    16 Jun 2008

    Last month the regulator fined a broker for saying that he could source whole of market products when this was not the case.

  • Brokers shun restrictive networks

    16 Jun 2008

    The Whitechurch Network claims that the recent surge in broker enquiries it has experienced is down to restrictions at other networks.

  • Broking could shrink by 10%

    16 Jun 2008

    The Association of Mortgage Intermediaries has forecast a 10% contraction in the broker sector after analysts predicted a drop in its share of the mortgage market.

  • BUPA added to Paradigm panel

    16 Jun 2008

    Paradigm Mortgage Services has added BUPA individual protection to its preferred protection panel. Brokers can now access BUPA's suite of products including income, life and critical illness cover as well as a range of online sales aids.

  • Business as usual for FT Partners

    18 Jun 2008

    FT Partners is assuring its members that it is open for business after false reports that the network was going into liquidation.

  • Buyout at Y3sloans

    16 Jun 2008

    Directors of Y3sloans.com and its subsidiaries Intelligent Loans and B2B Loans & Mortgages have completed a deal to take over the business.

  • Catholic in Chelsea merger

    16 Jun 2008

    The Catholic is to merge with Chelsea after struggling with the rising costs of regulation.

  • Catholic in Chelsea merger

    16 Jun 2008

    The Catholic is to merge with Chelsea after struggling with the rising costs of regulation.

  • Changing Landscapes

    16 Jun 2008

    Interesting stats today show mortgage lending was up slightly in April.

  • CHL site offers arrears advice

    16 Jun 2008

    CHL Mortgages has added information to its website to help customers looking for arrears advice. The data outlines support available to help borrowers stay in their properties.

  • CML and BSA fight to represent mutuals

    16 Jun 2008

    The Council of Mortgage Lenders and the Building Societies Association went head-to-head last week in a battle for the allegiance of mutuals.

  • CML says negative news will continue

    19 Jun 2008

    The Council of Mortgage Lenders says the negative news spewing from the housing markets is to be expected and will continue in the coming months.

  • Complete launches utility switching facility

    19 Jun 2008

    Complete Mortgage and Loan Services has launched the Complete Utility Switching facility.

  • Complete offers free Trigold

    17 Jun 2008

    Complete Mortgage and Loan Services will supply free Trigold membership to brokers who introduce two or more cases a month for packaging.

  • Complete offers Trigold free to brokers

    18 Jun 2008

    Complete Mortgage and Loan Services is offering regular brokers free access to the Trigold sourcing system.

  • Consumers shying away from property purchase says BSA

    19 Jun 2008

    A survey by the Building Societies Association reveals consumers are shying away from buying a property.

  • Could it be magic?

    16 Jun 2008

    Mole hears that BM Solutions relit the fire of Strategy reporter Tracey Scott last week, after taking her to the Take That musical, Never Forget.

  • Crawshaw's plan helped save B&B

    16 Jun 2008

    Steven Crawshaw, formerly of Bradford & Bingley, belongs to an exclusive brotherhood of chief executives who dislike talking to the press.

  • Customer service team up and running at Pink

    20 Jun 2008

    Pink Home Loans' customer services team is now up and running.

  • Debts.co.uk appoints group finance director

    20 Jun 2008

    Debts.co.uk has appointed Trevor Moore as group finance director, following its acquisition of the Relax Group of companies.

  • Deep Blue appoints BDM to expand English market share

    19 Jun 2008

    Scotland based packager Deep Blue has appointed Anthony Dukes to the role of regional BDM in the hopes of increasing its market share in England.

  • Deep Blue to boost market share in England

    19 Jun 2008

    Scotland-based mortgage packager Deep Blue has signalled it intentions to boost market share in England with the appointment of Anthony Dukes as regional business development manager.

  • Developers and valuers back new-build disclosure form

    16 Jun 2008

    House builders and valuers have backed the Council of Mortgage Lenders' plan to launch a disclosure of incentives form for new-builds.

  • Dual pricing remains a thorn in the side of broker channel

    16 Jun 2008

    The dual pricing debate remains a hot topic in Mortgage Strategy but some commentators say it won't be an ongoing concern. For example, the Association of Mortgage Intermediaries recently said that the disparities are returning to what could be seen in a functioning market.

  • Enquiries at Bridgingloans.com increase by 50%

    17 Jun 2008

    Bridgingloans.com has seen enquiries about short-term loans increase by 50% in Q2.

  • Enterprise goes public

    19 Jun 2008

    Enterprise Group has launched a consumer-facing front end for its EDGE V2 system.

  • EPF pulls out of secured loan market

    17 Jun 2008

    Endeavour Personal Finance, the intermediary secured loan lender, part of the HSBC Group, is no longer accepting new secured loan applications.

  • Estate agents forced to give clients redress

    20 Jun 2008

    Estate agents will be forced to join an approved ombudsman scheme from October this year as part of reforms sanctioned by the Office of Fair Trading.

  • Estate agents taking risks over HIPs

    16 Jun 2008

    Some estate agents are taking risks by obtaining HIPs from providers that do not subscribe to the HIP code, the Association of Home Information Pack Providers claims.

  • Every little helps

    16 Jun 2008

    Along with everyone else, Mole was shocked last week to read about the woman from Croydon who took out a 4,500 home improvement loan in a failed bid to arrange her husbands murder.

  • Everybody goes lending, lending USA

    16 Jun 2008

    In this second edited extract from his new book Chain Of Blame, Mortgage Strategy's US editor Paul Muolo takes a look at the history of hard money and the beach boys of sub-prime

  • Farr to leave AMI

    19 Jun 2008

    Richard Farr, director of the Association of Mortgage Intermediaries has been made redundant.

  • Firm aims to fill HIP gaps

    16 Jun 2008

    Hometrack has launched a pre-sale property report designed to meet the shortfalls in Home Information Packs.

  • Firm holds equity release seminars

    16 Jun 2008

    Hodge Equity Release is running a series of seminars for brokers who are considering a move into equity release. Hodge will run the seminars this month and next in cities across the UK including Newcastle, Norwich, Oxford and Coventry.

  • Firm unveils online DIP

    16 Jun 2008

    Complete Mortgage and Loan Services has launched an online decision in principle facility that will enable brokers to submit mortgage cases for packaging.

  • FirstPlus withdraws self-cert range

    19 Jun 2008

    Secured loan lender FirstPlus, will withdraw its self-cert range on July 1 2008.

  • FISA chairman plans to review code of practice

    16 Jun 2008

    The newly-appointed chairman of the Finance Industry Standards Association has proposed a review of its code of practice.

  • Fitch acclaims Kensington arrears strategy

    18 Jun 2008

    Fitch Ratings has today upgraded Kensington’s residential mortgage special servicer rating to 1- from 2+.

  • Fitch upgrades Kensington

    18 Jun 2008

    Fitch Ratings has upgraded Kensington’s residential mortgage special servicer rating to 1- from 2+.

  • Fixed rate deals rise in popularity

    16 Jun 2008

    The proportion of borrowers taking out fixed rate products increased to 59% in April from 54% in March, says the Council of Mortgage Lenders, the largest proportion since December last year. And the average first-time buyer put down a deposit of 13% in April, the highest level for over three years.

  • Former Accord director joins Stroud & Swindon

    16 Jun 2008

    Linda Will, former managing director of Accord Mortgages, has been appointed sales and marketing director of Stroud & Swindon.

  • Former edeus commercial director joins PMS

    16 Jun 2008

    Martin Reynolds, former commercial director of edeus, is believed to have been appointed corporate manager at Premier Mortgage Service.

  • Former NR bosses may face legal action

    18 Jun 2008

    Northern Rock’s new directors have launched a review into whether there are grounds for bringing legal action against the previous board.

  • Former Optoma chief launches packager

    16 Jun 2008

    The former chief executive of Optoma Broker Solutions has launched a packager called Optoma Mortgages.

  • Four million pay mortgage with plastic

    20 Jun 2008

    More than four million households have used credit cards to pay for their rent or mortgage in the last year, a report from homeless charity Shelter reveals.

  • FSA bans fraudulent brokers

    16 Jun 2008

    The Financial Services Authority has banned four brokers for fraud.

  • FSA director offers focussed response to disclosure letter

    16 Jun 2008

    Following my open letter to Lesley Titcomb, director of small firms and contact and sector leader for retail intermediaries and mortgages at the FSA, here is her response.

  • FSA plans to eradicate small firms to make its job easier

    16 Jun 2008

    I'd prefer that you withheld my name until after my firm's forthcoming visit from the Financial Services Authority. It's a measure of my contempt for the regulator that I think it would act vindictively if it knew who I was.

  • FSA tells Basle II to speed up plans

    16 Jun 2008

    The Financial Services Authority has urged the Basle II Committee to accelerate its plans to set up international rules on liquidity provision among banks. In a speech to the British Bankers' Association last week, FSA chairman Sir Callum McCarthy warned that if the committee did not establish international standards soon, countries would be forced to go it alone.

  • FSA to target senior individuals

    18 Jun 2008

    The Financial Services Authority has revealed it is starting to target senior individuals within firms.

  • GE Money links up with debt advice charity

    19 Jun 2008

    GE Money Home Lending has unveiled its plans to team up with the Consumer Credit Counselling Service.

  • Government to lose £5bn in Stamp Duty revenue

    20 Jun 2008

    The government is set to lose £5bn in tax revenue as a result of the flagging property market, new research claims.

  • Gross lending down 2% to £25.5bn

    19 Jun 2008

    Gross lending dropped to around £25.5bn in May, representing a 19% fall from the same time last year, figures from the Council of Mortgage Lenders reveal.

  • Gross mortgage lending down 2% in May

    19 Jun 2008

    Gross mortgage lending totalled an estimated £25.5bn in May, down only 2% from £26.1bn in April but 19% from the £31.5bn high in May 2007, show figures from the Council of Mortgage Lenders.

  • HBOS reports resilient performance

    19 Jun 2008

    HBOS has reported this morning that it remains on track to deliver a resilient performance for 2008, after minimal write-downs of a further £58m via its debt securities.

  • HBOS shares rise 12% after midweek dip

    16 Jun 2008

    Shares in HBOS climbed last Friday after falling during the week to 250p, 25p below the rights issue price set by the bank earlier this month.

  • HML to service Money Partners portfolio

    17 Jun 2008

    HML has signed a new contract with Money Partners to continue servicing its asset portfolio.

  • Home Buyer revamps site

    16 Jun 2008

    Home Buyer Systems has unveiled its revamped product and compliance website. It features a range of products including the Compliance Officer system for monitoring appointed representatives.

  • igroup cuts maximum LTV to 75%

    17 Jun 2008

    igroup, part of GE Money Home Lending, is to cut its maximum LTV for secured loan products to 75% from June 20 2008.

  • Inflation reaches 3.3%

    18 Jun 2008

    Inflation surged 1.3% above target to 3.3% in May, figures from the Office for National Statistics reveal.

  • Inflation surges to 3.3%

    17 Jun 2008

    Inflation surged 1.3% above target to 3.3% in May, figures from the Office for National Statistics reveal.

  • Inside knowledge of royal affairs

    16 Jun 2008

    Surveying sometimes involves fascinating human stories, as was proved when I was allowed to read some private letters from the most famous royal romance of them all, says Simon White

  • Insights into compliance weaknesses

    16 Jun 2008

    Research by MS2M highlights the areas where brokers must improve their compliance processes to ensure they maintain their reputation for high quality service, says Sally Laker

  • Intrinsic teams up with Loanoptions.co.uk

    18 Jun 2008

    Intrinsic Financial Services has added Loanoptions.co.uk as a strategic partner to provide secured loans advice and placement services.

  • Intrinsic teams up with Loanoptions.co.uk

    18 Jun 2008

    Intrinsic Financial Services has added Loanoptions.co.uk as a partner to provide secured loans advice and placement services.

  • Investor launches online mortgage business

    19 Jun 2008

    A Teeside property investor has launched an online mortgage service to help iron out the pitfalls consumers face when securing a mortgage.

  • Jupp linked to PTP buyout

    16 Jun 2008

    The managing director of Personal Touch Packaging is rumoured to be looking for strategic partners to back a management buyout of the firm.

  • Just Retirement appoints COO

    16 Jun 2008

    Just Retirement has hired Patrick Gale as chief operating officer and board director. Gale was chief executive of Sesame Group until December 2007.

  • Just when I thought things were looking up

    18 Jun 2008

    Michelle Blair, broker liaison, Loans etc

  • Kensington to make up to 75 job cuts

    16 Jun 2008

    Kensington has told staff this morning that up to 75 jobs are at risk of redundancy.

  • Labour MP backs CML's call for reform of income support for home owners

    18 Jun 2008

    Labour MP Sally Keeble is backing the Council of Mortgage Lenders' calls for reform of income support for mortgage interest.

  • Law firm cuts fixed fees

    16 Jun 2008

    Goldsmith Williams has slashed its fixed fees for all remortgage work from 395 to 299 to help brokers treat their clients fairly. The change is effective immediately.

  • Leadbay reports jump in demand for leads

    16 Jun 2008

    Leadbay has seen an increase in demand for its leads after slashing prices by 25%.

  • LeadPoint launches Trigold partnership

    17 Jun 2008

    LeadPoint has launched an integration with Trigold to enable brokers to source new business and close deals directly from the sourcing system.

  • Leeds hikes LTVs on B2L products

    16 Jun 2008

    Leeds has increased the maximum LTV on its buy-to-let products from 70% to 80%. Jeff Kirk, corporate relationship manager at Leeds, says: "We listen to broker feedback and look to work with them to find solutions for customers."

  • Lehmans facing shareholder lawsuit

    20 Jun 2008

    Lehmans Brothers, parent to closed lenders Preferred and Southern Pacific Mortgages Limited, and its senior management is being sued by a shareholder for conduct that led to substantial financial loss.

  • Lenders must be made to help debtors

    16 Jun 2008

    I am often amused by the ingenuity with which banks' PR staff positively position negative news. Who do they think they're fooling?

  • Link Lending teams up with Loans Warehouse

    19 Jun 2008

    Loans Warehouse has added Link Lending to its panel for short-term lending.

  • Loan taken out with murder in mind

    16 Jun 2008

    A housewife took out a 4,500 home improvement loan with Welcome Financial Services to pay for a failed bid to murder her husband.

  • Loanagency.co.uk relaunches website

    17 Jun 2008

    Secured loan, bridging and commercial master broker, Loanagency.co.uk, has relaunched its website.Loanagency.co.uk says introducers can track case progress safe in the knowledge that they retain control over the client relationship because of its no cross-selling policy. The master brokerage is currently giving away an Nintendo Wii to each introducer referring two secured loans over £10,000 which complete within the term of the promotion.

  • Loanmakers board members quit en masse

    16 Jun 2008

    Master broker Loanmakers has accepted the resignations of its entire operating board, sources told Mortgage Strategy last week.

  • Love game

    16 Jun 2008

    It was a clear case of game, set and match for Mortgage Strategy star hacks Laura Stavro-Beauchamp and Mark Skinsley last week, as they enjoyed Friday afternoon watching tennis at The Queen’s Club, courtesy of those kind folk at Royal Bank of Scotland Intermediary Partners.

  • Make every client interaction count

    16 Jun 2008

    Much has been said recently at industry conferences and in the trade press about the need for brokers to move away from single sources of in-come such as mortgage sales and diversify.

  • Manor Mortgages remains on Money Partners packager panel

    17 Jun 2008

    Packager Manor Mortgages has made the final cut and been retained on the Money Partners panel after the lender revised its product range and made sweeping changes to its distribution strategy yesterday.

  • Marathon Money 16 June 2008

    16 Jun 2008

    Mortgage Strategy brings you a rundown of the industry figures putting their bodies on the line in September's Berlin Marathon to raise money for charity

  • Market watch 16 June 2008

    16 Jun 2008

    Swaps went through the roof last week as inflation fears led central banks to make negative statements that terrified the financial markets.

  • Modus partners Paradigm

    16 Jun 2008

    Modus Mortgage Network has been added to Paradigm Mortgage Services' raft of partner members. Modus, formerly known as The Mortgage Partnership, has a nationwide network of 25 appointed representative firms.

  • Monster munch

    16 Jun 2008

    As the credit crunch rampages through the economy like a hungry beast, Harvey Jones identifies the victims and possible survivors

  • More jobs go at outsourcing firm

    16 Jun 2008

    Outsourcing firm Vertex has made a further 12 staff redundant on its DB Mortgages account. Vertex made the first round of redundancies in December, when it cut 38 workers from its regional underwriting, sales and marketing departments. A further 28 staff were made redundant in March.

  • Mortgage Next launches semi-exclusives

    18 Jun 2008

    Mortgage Next has launched two semi-exclusive mortgage products funded by Kensington which are available via Mortgage Next Network and Mortgage Next Partners.

  • MortgageStream launches call centre software

    16 Jun 2008

    MortgageStream has unveiled plans to launch a software system for businesses with call centres.

  • Most MS readers won't diversify into savings

    16 Jun 2008

    Some 59% of Mortgage Strategy online readers say they are not looking to advise their clients about savings products to supplement their income, despite the credit crunch's effects. Only 41% of our readers are considering doing so.

  • Most consumers seek advice

    16 Jun 2008

    Research from Unbiased.co.uk has revealed that 80% of respondents say they have sought advice when making financial decisions. It also reveals that 41% of respondents aged over 55 have used IFAs.

  • MPC voted eight to one to freeze rate

    18 Jun 2008

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

  • Mydeposits.co.uk offers free membership renewal

    18 Jun 2008

    Mydeposits.co.uk is offering free annual membership renewal to landlords who are protecting their tenants’ deposits via the government scheme.

  • NAEA members see confidence rise

    19 Jun 2008

    Members of the National Association of Estate Agents are reporting a rise in consumer confidence in May with the latest surveys revealing stabilisation in the housing market.

  • NAEA welcomes Carsberg review

    16 Jun 2008

    Members of The National Association of Estate Agents have welcomed the Carsberg Report on the future of the UK housing market.

  • Nationwide hikes fixed rates

    16 Jun 2008

    Nationwide is increasing fixed rates across its product range and on the 90% LTV tier of lifetime tracker deals.

  • Networks and clubs unite to promote TCF site

    16 Jun 2008

    A collection of mortgage networks, packagers and clubs have signed on to promote a website to brokers that helps preparations for compliance deadlines.

  • Newcastle on track to recruit 500 staff

    19 Jun 2008

    Newcastle has reiterated its pledge to recruit 500 new jobs as it opened new offices in the North-East.

  • Newcastle to recruit 500 staff

    19 Jun 2008

    Newcastle has pledged to recruit 500 staff as it opens its new offices in the North-East.

  • No plans to withdraw from market says Nemo

    20 Jun 2008

    Nemo Personal Finance has dismissed rumours that it is withdrawing from the secured loan market.

  • OFT approves estate agency complaints programme

    19 Jun 2008

    The Office of Fair Trading has approved a scheme that will provide redress for consumers with complaints against estate agents.

  • One in five worried about repossession

    20 Jun 2008

    The latest survey from Equifax, an online credit information provider, shows that 20% of home owners are worried about being repossessed.

  • One third of young Brits can't buy local homes

    16 Jun 2008

    Hometrack claims that nearly 30% of young Britons are now unable to get a foot on the property ladder in their local area.

  • Opal appoints managing director

    16 Jun 2008

    Opal has promoted Tony Collins to the position of managing director after only three years at the company.

  • Opal Home Loans appoints BDM

    16 Jun 2008

    Opal Home Loans has appointed Neil Calver as BDM. The Essex-based packager markets and distributes specialist mortgages. Prior to joining Opal, Calver was relationship manager at Southern Pacific Mortgage Limited.

  • Packager diversifies into car finance

    16 Jun 2008

    A packager has been forced to diversify into car finance to survive after its lender panel dropped from 30 to three in nine months.

  • Paradigm is to use Equilaw's legal services

    19 Jun 2008

    Paradigm Mortgage Services is to use the legal services of Equilaw LLP.

  • Paymentshield to close Edinburgh office

    17 Jun 2008

    Paymentshield is closing its Edinburgh office and relocating staff to either the insurer’s headquarters in Southport or Towergate in London.

  • Pink launches customer service team

    20 Jun 2008

    Pink Home Loans has set up a customer services team in a bid to make the broker experience of chasing and processing mortgage applications more efficient.

  • Promise Solutions rolls out property toolkit

    16 Jun 2008

    Promise Solutions is rolling out a property marketing toolkit for brokers and IFAs interested in expanding their service offerings.

  • Property developer launches 5.99% fixed deal

    16 Jun 2008

    Property developer Crest Nicholson has launched a three-year fixed rate to help borrowers struggling in the current market.

  • Ratings agencies to reform

    16 Jun 2008

    Ratings agencies have ag-reed to revamp their fee structures to boost transparency and allay concerns about conflicts of interest.

  • RBS on track to hit targets

    16 Jun 2008

    The group chief executive of Royal Bank of Scotland says the bank is open for business. In a pre-close trading update, Sir Fred Goodwin revealed that the RBS Group is on track to meet performance targets indicated in April's interim management statement.

  • RBSIP launches NatWest B2L deal

    19 Jun 2008

    RBS Intermediary Partners has introduced a rental cover requirement of 110% for its NatWest buy-to-let mortgages up to 75% LTV.

  • Regulator's PPI table causes concerns

    16 Jun 2008

    Firms are warning that the introduction of a payment protection insurance comparison table from the Financial Services Authority runs the risk of sidelining brokers.

  • Repossession valuations rise

    16 Jun 2008

    E.surv has reported a 26% year-on-year rise in demand for post-repossession valuations. The chartered surveyor says repossession valuation volumes have grown quickly since January this year.

  • Rewards must reflect risk, says IMF

    16 Jun 2008

    The International Monetary Fund is calling on lenders to give risk managers incentives that reflect the heightened importance of their work.

  • Reynolds confirmed as new corporate manager at PMS

    17 Jun 2008

    Premier Mortgage Service today confirmed the appointment of Martin Reynolds as corporate manager.

  • Richard Farr to exit AMI

    19 Jun 2008

    Richard Farr is leaving the Association of Mortgage Intermediaries at the end of July.

  • Richard Farr to leave AMI

    19 Jun 2008

    Richard Farr, director of the Association of Mortgage Intermediaries has been made redundant.

  • RICS calls for major reform of residential property sector

    16 Jun 2008

    The Carsberg Review of Residential Property should be the basis for major reform of the residential property sector, says the Royal Institution of Chartered Surveyors.

  • RICS changes rule book

    16 Jun 2008

    The Royal Institution of Chartered Surveyors has made changes to its rule book. From September it will be mandatory for RICS members to ask sellers, builders and onsite developers for disclosure of incentives forms.

  • S&S appoints senior business change manager

    16 Jun 2008

    Stroud & Swindon has appointed Kim Massey to the post of senior manager of business change.

  • Secured loan lender closes to new business

    17 Jun 2008

    Intermediary secured loan lender Endeavour Personal Finance is no longer accepting new secured loan applications.

  • Secured Solutions adds bridging lender to panel

    17 Jun 2008

    Southend-based specialist master broker Secured Solutions has added GB Finance Group to its panel of bridging lenders.

  • Secured Solutions adds GB Finance Group to panel

    17 Jun 2008

    Secured Solutions, the Southend-based specialist master broker, has added GB Finance Group to its panel of bridging providers. Brokers will now be able to get access a range of GB’s products via Secured Solutions.

  • Secured Solutions unveils website

    16 Jun 2008

    Southend-based Secured Solutions has launched a website. Brokers can use the online resource to find out about the range of services the second charge master broker offers in addition to its range of second charge loans. These include bridging finance, commercial mortgages and debt management.

  • Sesame to host 21 technical events in July

    20 Jun 2008

    Broker network Sesame is hosting 21 technical seminars between July 1 and July 24 at locations up and down the UK.

  • Size Matters

    16 Jun 2008

    Having long been assured that size doesn't matter, it seems that actually the reverse is true.

  • Skipton launches fixed rate range

    16 Jun 2008

    Skipton has unveiled a range of fixed rate products including three and five-year deals at 7.39% with a maximum LTV of 75% plus a 999 fee. It also offers a seven-year deal at 6.29% with a maximum LTV of 75% plus a 799 fee and a 10-year product at 6.19% with a maximum LTV of 75% and the same fee.

  • Skipton launches fixed rate range

    16 Jun 2008

    Skipton has unveiled a range of fixed rate products including three and five-year deals at 7.39% with a maximum LTV of 75% plus a 999 fee. It also offers a seven-year deal at 6.29% with a maximum LTV of 75% plus a 799 fee and a 10-year product at 6.19% with a maximum LTV of 75% and the same fee.

  • Smart brokers looking online

    18 Jun 2008

    Steve Walker, managing director, Promise Solutions

  • Smartnewhomes.com reports rise in London and South-East house prices

    19 Jun 2008

    Smartnewhomes.com has reported price growth in London and the South-East in May, making this the third consecutive month of rising prices.

  • Swift makes further cuts to broker panel

    18 Jun 2008

    Swift has made further cuts to its master broker panel, in a bid to remain in the secured loan market.

  • TFC Homeloans relaunches Prestige service

    17 Jun 2008

    TFC Homeloans is re-launching its Prestige service for large loan sizes.

  • TFC launches service for larger loans

    17 Jun 2008

    TFC Homeloans, part of the Orbiter Group, is relaunching its ‘Prestige’ service for large loan sizes.

  • The Debt Advisor appoints three staff

    20 Jun 2008

    Manchester-based debt management company The Debt Advisor has made three new appointments to its personal insolvency practice. Rebecca Rudden, from Sale in Manchester, has been appointed as a personal debt advisor, responsible for liaising with clients and creditors to set up debt management schemes, accepting plans and dealing with interest payments.

  • The Debt Advisor takes on three new recruits

    20 Jun 2008

    Manchester-based debt management company, The Debt Advisor, has made three new appointments to its personal insolvency practice. Rebecca Rudden, from Sale in Manchester, has been appointed as a personal debt adviser, responsible for liaising with clients and creditors to set-up debt management schemes, accepting plans and dealing with interest payments.

  • TMP unveils rebrand

    16 Jun 2008

    The Mortgage Partnership has rebranded as Modus Mortgage Network. The independently owned Milton Keynes-based network comprises 25 appointed representative firms. It is offering a three-month free mentoring service for ARs joining the network.

  • Tories won't scrap HIPS if they prove to be successful

    16 Jun 2008

    I agree with Andy Knee's recent letter (Mortgage Strategy June 2). While Home Information Packs aren't perfect they are a foundation for the future.

  • Tread carefully

    16 Jun 2008

    Clients may be tempted to rush into equity release due to falling house prices but brokers must point out the pitfalls, says Simon Pritchard Jones

  • Treasury heading for £5bn Stamp Duty shortfall

    20 Jun 2008

    The Treasury is heading for a £5bn Stamp Duty shortfall due to falling property prices, new research by the Liberal Democrats has found. Lord Oakeshott, Liberal Democrat treasury spokesperson, says: "Gordon Brown let Britain's house party get out of control. Now Alistair Darling has been left with a £5bn Stamp Duty hangover. "The chancellor had hardly sat down on Budget Day before the housing market fell off a cliff in early April. "Britain's mortgage famine, after ...

  • Treasury unveils regulatory centre

    16 Jun 2008

    The Treasury is planning to set up an international centre of excellence focussing on financial regulation. The International Centre for Financial Regulation will carry out and sponsor training and research into regulatory issues.

  • Trigold bolsters commercial panel

    16 Jun 2008

    Specialist Commercial Finance has joined Trigold's commercial mortgages panel as a master broker offering access to high street commercial lenders. It will also work with a large number of niche lenders that offer self-cert and sub-prime deals.

  • Trouble at top for Lehman Brothers

    16 Jun 2008

    Lehman Brothers has replaced its president and demoted its chief financial officer after a stream of losses. Herbert H McDade III is set to succeed Joseph Gregory as president while Ian Lowitt will replace Erin Callan. The changes are effective immediately.

  • UBS completes rights issue

    16 Jun 2008

    UBS has successfully completed its £7.8bn rights issue after receiving the thumbs up from shareholders.

  • UK most vulnerable to crunch, says Fitch

    16 Jun 2008

    Fitch Ratings says the UK is the country most vulnerable to the effects of the credit crunch over the coming 12 to 18 months.

  • Undermining CML makes no sense

    16 Jun 2008

    Can you solve a problem by dividing it into smaller problems? The move last week by the Building Societies Association to create the BSA Mortgage Service - a quasi-trade body within a trade body - seems divisive given prevailing market conditions. The BSA wants to expand its representative scope on behalf of building societies by representing their interests in the mortgage and housing markets.

  • United we should stand

    17 Jun 2008

    Rob Jupp, managing director, Personal Touch Packaging

  • We shouldn't have to pull strings

    16 Jun 2008

    A recent case would have collapsed without high level intervention but underwriters should be allowed to exercise their judgement before things get out of hand, says Sue Read

  • With the bad, comes the good

    19 Jun 2008

    Natalie Martin, editor, Loandistributor.co.uk

  • Woolwich shuts down dormant web accounts

    16 Jun 2008

    Woolwich has de-registered brokers who have failed to conduct business online with the lender during the past six months. Brokers yet to log on will find their accounts void and no longer accessible.

  • Yousefi to market BoIM products

    16 Jun 2008

    Wave's former sales and distribution director Mehrdad Yousefi will promote broker mortgage products in his new role at Bank of Ireland Mortgages.

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