Mortgage Strategy
17 April 2006

  • 98% Say industry awards proliferation is mad

    17 Apr 2006

    A whopping 98% of Mortgage Strategy Online readers last week voted that there that are too many industry awards.Mortgage Strategy has its own awards ceremony - the premier event in the industry calendar - but now every Tom, Dick and Bharat is getting in on the act. For the sake of the collective psyche of the industry, this penguin-mania must end now!This week, Mortgage Strategy asks: "Do you find it difficult to secure finance on a new-build property?"

  • Abbey offers new fixed and tracker deals for first-time buyers

    21 Apr 2006

    Abbey is offering new fixed and tracker deals fro first-time buyers.

  • Access to Cheshire Mortgage Corporation products on Trigold

    20 Apr 2006

    Cheshire Mortgage Corporations products are now live on Trigold allowing brokers access to Cheshire Mortgage Corporations new residential or semi-commercial mortgages with 2% discount, interest only, a payment holiday for the first three months and six months cash back.

  • Advanced CeMAP is helping brokers

    17 Apr 2006

    The Advanced Certificate in Mortgage Advice and Practice is helping to educate brokers on the selling of equity release, says the Institute of Financial Services.As Mortgage Strategy's Release it Right campaign gathers pace, the IFS says its new qualification has been designed to give advisers the skills they need to understand specialist areas such as equity release.The first non-corporate students of the Advanced CeMAP qualification have completed an additional three ...

  • Alliance & Leicesters debt survey

    21 Apr 2006

    A&L has found that the young have the lowest levels of credit card debt, whilst the under 30s have the highest non-mortgage debt, half of this (46%) is low-cost student loans.

  • AMI celebrates third birthday

    18 Apr 2006

    The Association of Mortgage Intermediaries celebrated its third birthday on monday. Since its establishment in April 2003 AMI has grown significantly and membership now stands at approximately 18,000 advisers. AMI has worked hard in establishing itself as the voice of mortgage intermediary firms. AMI uses its collective membership strength to lobby the Treasury, FSA, government, EU policymakers and other opinion makers effectively, to ensure a positive regulatory and business ...

  • Are you switched on to the potential of the net?

    19 Apr 2006

    The flotation of property website Rightmove last month has been heralded as the biggest stock market debut by a UK online company since the dotcom boom of the late 1990s. The share issue was 35 times oversubscribed, pushing the company’s value up by £75m to more than £500m on the first day.

  • B&B reveals 27% increase in lending levels

    19 Apr 2006

    Bradford & Bingleys Quarterly Mortgage Market Review for Q1 2006 reveals the housing market shows reassuring growth with a 27% increase in lending levels from the same period last year.

  • B&W launchs new discount product

    21 Apr 2006

    Bristol & West Mortgages has launched a 4.19% two-yeardiscounted product with a 499 arrangement fee to 85% LTV.

  • B2L challenges

    17 Apr 2006

    The spiralling number of students in need of housing plus legislative change make this an exciting but challenging time to be in buy-to-let, says Lee Grandin

  • BA unveils MPPI deal

    17 Apr 2006

    Berkeley Alexander has launched a mortgage payment protection insurance product called Mortgage Essentials.Like BA's Mortgage Lifeline, it offers age banded premiums and back to work service in the event of unemployment. It also offers the ability to transfer cover from other policies. The only difference is that the new product does not offer three months' free cover, allowing BA to offer a cheaper rate.

  • Ban SPASU now and protect the most vulnerable clients

    17 Apr 2006

    From Brian Humphreys I had to smile when I read Roger Snodin's letter in support of Paul Violet and the merits of SPASU (Mortgage Strategy Letters April 3). We all come across clients with 'mug' invisibly tattooed on their foreheads - gullible people who will do whatever you say and buy whatever you tell them they need. A few years ago I met a couple in Somerset. She worked at the local mushroom farm, he was a farm labourer. They were in their 50s and had been sold an endowment ...

  • Bankruptcy service launched

    17 Apr 2006

    Glow Mortgages has launched a bankruptcy annulment remortgage service in association with the Bankruptcy Protection Fund.

  • BISL launches recruitment drive

    18 Apr 2006

    Banking-Insurance Services Limited has revealed an aggressive recruitment policy to attract mortgage consultants to take advantage of its bespoke services.

  • Bring back local underwriting, I say

    17 Apr 2006

    A return to local underwriting could cut out a lot of the nonsense and long-winded delays that turn intermediaries into file shufflers and thwart them at every turn, says Sue Read

  • Britons underestimate chances of ID theft

    21 Apr 2006

    Two out of three Britons drastically underestimate the likelihood of becoming a victim of ID thieves even though the vast majority say they are more aware of ID theft, and the impact it can have on their finances, than they were a year ago.

  • Brokers must prepare for HIPs or prepare to lose out

    17 Apr 2006

    From Alan Dring I can't remember on how many occasions I have had to restrain myself from saying "Wake up and start addressing the opportunities," in a frustrated tone to a group of mortgage brokers. I was recently invited to speak at the AMI Regional Conference in Bristol and was not surprised - but certainly disappointed - to be faced by an assembly of IFAs and mortgage brokers, almost none of whom were looking forward to June 1 2007 as an opportunity, instead believing the ...

  • BSA defends salary hikes

    17 Apr 2006

    The Building Societies Association has defended some mutals' decisions to increase chief executives' pay by up to 77%.Society bosses have been criticised for dramatically raising their salaries when their societies are not bringing in matching profits.But Rachel Blackmore, spokeswoman for the BSA, says: "These rises are no more than in any other area of financial services. Even though a society might not have increased its profits last year, it could be working on a three or ...

  • Bulgarian boom

    17 Apr 2006

    Bulgarian Home Loans has welcomed its seventh lender to the Bulgarian property market.Chris Downham, director of BHL, says: Eight months ago no Bulgarian bank had ever lent to foreigners. We now have six Bulgarian and one Greek bank on our panel.

  • Burgess moves

    17 Apr 2006

    Phil Burgess, formerly regional manager at Berry Birch & Noble Financial Planning, has joined the corporate and private clients division of Park Row Group.

  • Business lending launches to wider intermediary market

    18 Apr 2006

    Business Lending Ltd, the London based specialist commercial lender is expanding its business to include the wider intermediary market for the first time.

  • C&G moves into Northern Ireland

    17 Apr 2006

    Cheltenham & Gloucester is establishing a presence in Northern Ireland for the first time in 10 years with the appointment of a Belfast-based intermediary sales manager.Tonya Dornan, who previously worked in Northern Ireland for Abbey, will support brokers across the country.

  • C2 slashes sub-prime fees

    17 Apr 2006

    c2-financial has scrapped valuation fees and reduced its application fee to 55 across its sub-prime range.This offer is branded as the C55 range and the deal has been launched on a month-long trial. If it proves to be a success it could become part of c2's standard offering.c2 will retain 0.25% of the lender income which will cover the cost of valuation, with the balance being returned to brokers in the form of higher proc fees.Justin Caffrey, operations and sales director ...

  • Call for lenders to simplify their product guides

    17 Apr 2006

    Lenders have been called on to simplify their product guides, with the number of products on offer set to double as new lenders come into the market this year.

  • CETA launches Premium Portal

    18 Apr 2006

    CETA has launched a Premium Portal that offers a web-based insurance quotation and sales system to brokers and advisers.

  • Clarification on trust taxation

    17 Apr 2006

    Threesixty says IFAs can resume Inheritance Tax planning for clients following the clarification of tax on trusts in the recent Finance Bill.

  • Clubs must add value for brokers

    17 Apr 2006

    The mortgage club is widely seen as the distribution channel of the future but to grow and differentiate themselves clubs must add value to brokers' businesses, says Payam Azadi

  • Cobalt Capital opens for business in the City of London

    17 Apr 2006

    Cobalt Capital has expanded its business with the opening of an office in the City of London.Situated on Fenchurch Avenue in the capital's financial district, the office will be run by Steve Smith of Square Mile Mortgage Finance.While retaining his directorship with Square Mile, Smith will manage the Cobalt brand in the City.Working alongside Smith will be Steve Vanner and Gillian Slater - consultants poached from Hamptons Mortgages.Both are said to be excited at joining ...

  • Connells appointment

    17 Apr 2006

    Connells has appointed Alan Ord to the newly created position of group operations manager, overseeing Connells Residential and Sequence Mortgage.

  • Co-op launches a range of legal services

    21 Apr 2006

    The Co-operative Legal Services is to launch a range of legal services for its customers and members.

  • Co-op products are not the cheapest, nor should they be

    17 Apr 2006

    From David Neave As managing director of Britishinsurance.com, I wonder what Simon Burgess' agenda (Mortgage Strategy Letters April 3) is in misquoting our ethical policies and then criticising our payment protection insurance even though he says he was "pleased to see that the Co-op was more competitive than other lenders..." The Co-operative Bank's ethical policy explains what the bank will and will not do with its customers' money while the Co-operative Insurance Society's ...

  • Cost of moving home risen more slowly than house prices

    20 Apr 2006

    Despite headlines that scream tens of thousands of pounds to move house the reality is that for the average home mover the cost of moving has risen more slowly than house prices since the beginning of the millennium.

  • Coutts moves to help the rich

    17 Apr 2006

    Coutts, the private banker to the rich and famous, is offering a property service for clients buying homes over 750,000.The banker has teamed up with Garrington Home Finders and Ten Lifestyle Management which will conduct property searches and acquisitions for clients for 2,000 plus VAT and a success fee of 2% of the purchase price.Coutts can arrange for removals and storage services and even supply an adviser to coordinate events on the day of the move.Cleaners and gardeners ...

  • Cover clients miss out on claims

    17 Apr 2006

    Insurance customers are seeing their claims fall short by up to 1.2bn per year. A study commissioned by MoneyExpert.com shows in the past five years, around 5.74 million home insurance customers were not paid the full amounts they claimed.

  • Curriculum Vitae - Colin Sanders

    17 Apr 2006

    "I'm a loyal Crystal Palace fan, man and boy"

  • DB Launch Countdown

    17 Apr 2006

    Despite being blighted by a plague of coughing and sneezing, DB Mortgages staff have a photo shoot, feature on local radio's skive slot and eat lots of cake, says Bill Dudgeon

  • Dear Delia

    17 Apr 2006

    Dear Delia One of my clients is in the process of divorcing her husband and has agreed that she and the children will leave the family home. She is concerned about servicing a mortgage. She earns 32,000 per year, gets maintenance of 575 per month and is entitled to 50,000 equity from the family home. What are her options?

  • Derbyshire offers conveyancing

    17 Apr 2006

    The Derbyshire has teamed up with LMS to provide its customers with a conveyancing service.This means The Derbyshire can take care of its customers' legal needs for conveyancing at the same time as it arranges their mortgages.Rob Hill, corporate communications manager at The Derbyshire, says: "Through our partnership with LMS we will deliver a competitively priced, convenient, speedy service. Customers will benefit from fixed legal fees and a no move, no legal fee guarantee."LMS, ...

  • Direct Line launches fixed rate mortgage range

    20 Apr 2006

    Direct Line has launched a suite of fixed rate mortgages, which have the added incentives of discounted home insurance and free home emergency cover for two years.

  • e.surv predicts house price rises in Northern Ireland

    21 Apr 2006

    There was a time when you could get permission to build a house virtually anywhere you wanted to in Northern Ireland, but a recent rule change by the Department of Regional Development means that this is unlikely to be the situation for very much longer in the countryside, says e.surv.

  • Easter puts a hop in the step of FTBs

    17 Apr 2006

    Easter normally heralds an upturn in the house buying market as the lighter nights and warm sunshine put a hop in the step of first-time buyers.And research released last week from haart estate agents reports a 32% increase in appointments booked compared with Easter last year.

  • Eddie Smith made redundant at Buildstore

    18 Apr 2006

    Eddie Smith, head of distribution at Buildstore is to be made redundant following the recruitment of three field based business development managers.

  • em-homeloans receives positive response to product range

    20 Apr 2006

    UK mortgage packager and branded arranger em- is reporting a huge response to the recent relaunch of its em-homeloans RX product range in association with Rooftop Mortgages. Guy Garrard, director of business development for em says: "These products have been an immense success since the original launch at Expo in November last year. A combination of aggressive pricing combined with some very clever criteria, have ensured that these products provide unbelievable opportunities both ...

  • Estate agents confusion over HIP financial penalties

    20 Apr 2006

    Research carried out by SimplyHIP, the HIP provider and part ofSimplyConveyancing, found that 84% of estate agents did not know the correct financial implications for not having a completed HIP in place prior to selling a residential property from June 1st 2007.

  • Estate agents told to comply

    17 Apr 2006

    Two Tynemouth estate agents have been told to be more transparent with consumers by the Office of Fair Trading. Gordon Reed and Jason Roberts, director and former director of Coast and Country Estate Management have undertaken to comply with the Estate Agents Act 1979.

  • Europe catches up with UK commercial property, says RICS

    21 Apr 2006

    UK investment property is performing well compared to other markets but no longer leads the pack in Europe, says RICS Global Property Survey.

  • Everybody can win with outsourcing

    17 Apr 2006

    It is often criticised but offshore outsourcing produces benefits for all players in the mortgage chain and also creates wealth and opportunity at home and abroad, says Rob Proctor

  • Exclusive: DB mortgages goes live

    20 Apr 2006

    DB mortgages went live today, piloting its products through three packagers.

  • Financial education will benefit us all

    17 Apr 2006

    The recently published findings of a Financial Services Authority study confirm what we all feared - the next generations of the elderly in Britain are paying little attention to their financial future, with 39% of 18 to 40 year olds admitting to living for today without a thought for their financial future.

  • Financing properties owned in trusts

    17 Apr 2006

    Over recent weeks I have been looking at various niche markets within the buy-to-let sector where choice of lender is more restricted than for normal borrowers. One such area involves loans secured on residential properties owned through trusts.

  • First-timers hold out for love

    17 Apr 2006

    First-time buyers are putting off buying homes until they have met their Mr or Mrs Right, research from Alliance & Leicester reveals.A&L's latest MovingImproving Index reveals that one in four first-time buyers see bricks and mortar as going hand in hand with marriage vows, refusing to step on the housing ladder until they've got hitched.And of those looking to buy with their soulmate, 39% see sharing a mortgage as a symbol of love and commitment.But Stephen Leonard, director ...

  • Four brokers face action over fraud

    17 Apr 2006

    Four mortgage intermediary firms face enforcement action by the Financial Services Authority as part of its move to crack down on fraudulent activity in the markets.

  • FSA fine for Deutsche Bank

    17 Apr 2006

    The Financial Services Authority has fined Deutsche Bank 6,363,643 for breaching the FSA's fifth principle by failing to observe proper standards of market conduct, and its second principle by failing to conduct its business with due skill, care and diligence. The breaches arose from transactions conducted in March 2004.

  • FSA is selling contacts to firms that send unsolicited mail

    17 Apr 2006

    From Mike Hoare I am sure I speak for many when I express the frustrations of owning a constantly overworked fax machine, bombarded with unsolicited fliers, promotions and rate releases from a host of companies. I was intrigued enough to follow one up last week to see how my number was obtained, bearing in mind I had made no contact and am not named in local directories. I was surprised to be told that the company had acquired lists from the FSA - at a cost of course. This ...

  • FSA reviews RMAR

    19 Apr 2006

    The Financial Services Authority has produced tips and advice on completing the Retail Mediation Activities Return for financial advisers, mortgage advisers and general insurance intermediaries.

  • Garden makeovers add value, says Saga Insurance

    21 Apr 2006

    Research from Saga Insurance reveals millions of Brits are adding value to their property by carrying out garden makeovers.

  • GMAC-RFC completes 2.1bn in portfolio sales

    18 Apr 2006

    GMAC-RFC UK has revealed it has completed 10 portfolio sales in 2006 so far to a total value of 2.1bn.

  • GMAC-RFC says it's business as usual

    17 Apr 2006

    GMAC-RFC insists it's business as usual although its parent company ResCap, General Motors' home mortgage unit is to sell senior and subordinated debt to help pay the US$3.6bn owed to GM Acceptance Corp.GM recently agreed to sell 51% of GMAC, its finance arm, to a private equity consortium led by Cerberus Capital to help boost GMAC's credit rating.Jeff Knight, director of marketing at GMAC-RFC, says: "It's business as usual for our company. Whatever happens with GM does not ...

  • Going direct can damage your wealth

    17 Apr 2006

    Last year over a third of consumers went direct to product providers to obtain their equity release plans. Established providers Prudential and Norwich Union are no doubt seeing a substantial share of this market.

  • Government announces review of housing and regeneration

    19 Apr 2006

    A review of the institutional structure for delivery of the government's housing and regeneration programmes has been announced today.

  • Government campaign to help the financially excluded

    20 Apr 2006

    The chief secretary to the Treasury, Des Browne has announced that moneyfrom the Financial Inclusion Fund would be made available to support a newFinancial Inclusion Taskforce campaign.

  • Guaranteed and GHL expands placements team

    18 Apr 2006

    Guaranteed and Genesis Home Loans has responded to the introduction of its online Decision In Principle service by employing two new members of staff to strengthen its placements team.

  • House prices rise for fifth consecutive month

    18 Apr 2006

    The Royal Institution of Chartered Surveyors housing market survey says house prices have risen for the fifth consecutive month, with more people enquiring about purchases for a record-breaking tenth month in a row.

  • How confident do you feel about the housing market?

    17 Apr 2006

    A recent survey of potential first-time buyers revealed that the average they expect to buy their first home is 30, with almost 40% not expecting to do so until they are over 30. Do consumers think house prices are spiralling out of control or are they confident of getting a foot on the ladder?

  • IFS offers basic insurance qualification course online

    18 Apr 2006

    The IFS has teamed up with the UK's number one insurance training specialist Searchlight Solutions to allow insurance professionals to study online for its foundation general insurance qualification, the Certificate of Regulated General Insurance.

  • Integrity launches best price pledge on TEPS

    20 Apr 2006

    Integrity, a specialist in the UK Traded Endowment Policy selling market, has launched its best price pledge for policyholders wishing to sell their With-Profit endowment policies which expire between 2018 and 2025.

  • Intermediaries now have jobs for life

    17 Apr 2006

    Consumer watchdog Which? has been galvanised into action over the issue of lenders' default charges. The Office of Fair Trading's recent ruling that 12 represents a fair cost of administration for breaching overdraft limits, late payments and returned cheques is the basis for its latest pro-consumer offensive.

  • Internet first port of call for financial advice

    18 Apr 2006

    The internet is the first port of call for potential IFA clients planning to take financial advice, reveals an Ipsos MORI survey for IFA Promotion.

  • It's open season for lead generation

    17 Apr 2006

    For many, just hearing the phrase cold calling will send a cold shiver down their spines. But others will detect the scent of possible business, so is the glass half empty or half full?

  • Laker says clubs must specialise

    17 Apr 2006

    Sally Laker, managing director of Mortgage Intelligence, has criticised what she calls sticker mortgage clubs and says specialised clubs are the way forward.Speaking about MI's 5* and 7* Elan mortgage clubs due to launch in May, Laker says clubs must start offering directly authorised brokers something fresh and make them feel special, not just act as a sticker on their applications.Laker says: "We are looking to add value to brokers, not be just a sticker club. We want to reward ...

  • Landlord jailed

    17 Apr 2006

    A landlord was sentenced to 12 months' imprisonment on April 9 at Liverpool Crown Court for attempted fraud. Ian Foulkes bought several properties and let them out but did not declare the rent in tax returns.

  • Lender line-up for em- roadshows

    21 Apr 2006

    em- has finalised its lender line-up for the Leicester and Bolton roadshows on May 10 and May 11.

  • Lenders and brokers can help FTBs

    17 Apr 2006

    Lenders must be creative in designing deals for first-time buyers and brokers can also do their bit when it comes to suggesting imaginative but safe options, says Richard Coulson

  • Lenders must encourage FTBs to save

    17 Apr 2006

    One of the big estate agency chains has produced an index on housing transactions. The data from Your Move is fascinating as for the first time we get more than anecdotal evidence about the perceived buoyancy in the market.

  • Lenders must stand out from the crowd

    17 Apr 2006

    Given all the new firms poised to enter the lending market, there will soon be a real crowd of firms competing for intermediary business.

  • LMC buyout to complete soon

    17 Apr 2006

    Lehman Brothers will complete the buyout of the London Mortgage Company on April 28. LMC will be added to Lehman Brothers' European capital mortgage division. The company will become Lehman Brothers' third specialist lending brand alongside Preferred and Southern Pacific Mortgages Limited.

  • Look at your system before criticising Future Mortgages

    17 Apr 2006

    From Maurice Edgington I would like to add to the debate on Future Mortgages and its service, but not for the expected reason. Over the years we have submitted applications direct to Future but in the past 12 months had not selected it for various reasons, mostly its deals. But a Future product was most suitable for a recent client so the application was submitted online on February 24. The offer was issued on March 30 and here's the difference - most of the delay was due to ...

  • Loophole will exclude B2L properties from HIP rules

    17 Apr 2006

    A loophole in Home Information Pack legislation means buy-to-let properties will not require HIPs.Properties with sitting tenants will not need to provide HIPs as they are classed as commercial properties, says the Office of Deputy Prime Minister.

  • Manchester signs up to ENC sourcing module

    17 Apr 2006

    The Manchester has become the 15th lender to support the Enhanced Non Conforming sourcing module on Trigold.The society's products will be listed and verified on ENC, allowing advisers to make accurate product comparisons. Some 95% of the sub-prime market now supports ENC, which is available to all Trigold users.Paul Davies, deputy chief executive of The Manchester, says: "Becoming an ENC lender allows us to deliver our proposition of innovation and flexibility directly to brokers' ...

  • Market Watch

    17 Apr 2006

    Swaps reversed their falls of last week. This volatility is making it difficult to work out what is going to happen to products. Most of the main lenders' core two-year fixed rates are well below the cost of funds, even taking into account arrangement or booking fees.

  • Marketing Brief

    17 Apr 2006

    Support is critical in the mortgage industry. Kevin Paterson's A-Z review rates the marketing material that lenders issue to help brokers with sales and business development

  • MDA completes acquisition of PropertyFlow

    20 Apr 2006

    Canadian company MacDonald, Dettwiler and Associates has completed the acquisition of PropertyFlow, a UK online conveyancing provider. The deal brings together online conveyancing brands, SearchFlow and PSA (through PropertyFlow), and MDA Search and MDA Transaction Online (which are owned by MDA and trade in the UK). Mark Riddick, CEO of PropertyFlow, says: This merger provides a great platform to offer the market an independent source of property search information.

  • Me & My Car

    17 Apr 2006

    The BMW 730i Sport is the car to beat them all including satellite navigation, its own television and an onboard computer among its many virtues, says Guy Batchelor

  • Millfield boss is fined for misleading FSA on merger

    17 Apr 2006

    Paul Tebbutt, chief executive of the Millfield Partnership, was last week fined 35,000 by the Financial Services Authority for providing misleading information.The case concerns an appli- cation to the regulator made by Millfield to merge with another financial adviser group, Inter Alliance, in 2004.A signed letter supplied to the FSA on September 30 2004 confirmed the intention of seven directors of the merged company, including Tebbutt, to provide a directors' guarantee of ...

  • M-Next members get commercial support

    17 Apr 2006

    Mortgage Next Network has launched a specialist support service for appointed representatives wishing to help clients apply for commercial mortgages.The service is being provided via two of Mortgage Next's ARs, Commercial Choice and MansellBenoy. The companies have agreed to act as master brokers for other Mortgage Next members with limited experience of dealing with commercial mortgages.The two companies will process applications on behalf of introducing ARs and pay them introductory ...

  • Money Partners expands sales and marketing team

    18 Apr 2006

    Money Partners has appointed Steven Fitzhugh to lead the specialist lender's product development function.

  • Money Partners revamps website

    17 Apr 2006

    Money Partners has revamped its interactive broker website MoneyPort.In line with broker feedback since the website was launched in late 2004, MoneyPort has been completely redesigned.The company says its website is now easier to navigate and faster to use. It features new sales tools including Key Facts Illustrations, and brokers can access cascade underwriting and flexible fee management facilities.There is also a quote manager with a customer view facility that brings ...

  • Moneyquest creates 100 jobs in relocation

    18 Apr 2006

    Moneyquest is creating 100 new jobs with the relocation of its headquarters to Glasgows prime office building.

  • Moneyquest scoops top prize at Glasgow Business Awards

    21 Apr 2006

    Moneyquest landed the top prize at the ninth annual Glasgow Business Awards, at the citys Crowne Plaza Hotel on April 20.

  • moneysupermarket.com slams interest-only mortgages

    20 Apr 2006

    moneysupermarket.com is warning borrowers that relying on interest-only mortgages could cost them up to 12,000.

  • Mortgage lending reaches 28.3bn in March

    20 Apr 2006

    Gross mortgage lending in March reached 28.3bn - an increase of 26% on the previous month, latest data from the Council of Mortgage Lenders reveals.

  • Mortgages plc to present em-roadshows

    19 Apr 2006

    em- has revealed Mortgages plc will be among the presenters at its roadshows in Leicester and Bolton on May 10 and 11 respectively.

  • Mouse Sale launches property sales website

    18 Apr 2006

    Mouse Sale is launching a national online property sales business that enables vendors and purchasers to sell and buy property privately without the need for a traditional estate agent and potentially save thousands of pounds in selling fees.

  • MPC voted seven-one to freeze rates

    19 Apr 2006

    Minutes from the Bank of England's latest meeting reveal members voted seven-one to keep British borrowing costs at 4.5% earlier this month.

  • MPLC self-cert applications fall

    17 Apr 2006

    Mortgages PLC says since launching its affordability calculator it has seen a marked fall in self-cert applications. Pete Thomson, sales director, says: "Introducers are wary of self-cert and are looking for ways to avoid it."

  • MS survey reveals word on the street is not HIP

    17 Apr 2006

    A shocking 100% of consumers had not heard of Home Information Packs when asked by Mortgage Strategy.Research last week by Easier2Move revealed that only one in eight estate agents are aware of the packs just 14 months before they are due to be implemented.So Mortgage Strategy took to the streets to find out if consumers are any the wiser. But of those asked not one had heard of HIPs - including those in the process of buying homes.Adam Randall, 25, from London, ...

  • National Homebuyers new plan to help pensioners

    21 Apr 2006

    National Homebuyers has announced a Release of Property Equity initiative aimed at helping those worst affected by the pension crisis.

  • North South divide on CCJs

    18 Apr 2006

    Households in certain post towns in Yorkshire and the Midlands are more likely to have County Court Judgements registered against them than anywhere else in England or Wales, says MyCallcredit.

  • Now is a good time to sell your endowment, says APMM

    18 Apr 2006

    The Association of Policy Market Makers is today telling policyholders that if they have decided to dispose of their endowment, now is a good time to sell.

  • Offshore mortgage market shows strong growth potential, says Barclays

    20 Apr 2006

    Barclays International has seen its offshore mortgage book grow by 25% during 2005, due to increasing numbers of people from overseas coming to the UK to live and work.

  • PIM authorised

    17 Apr 2006

    Prestbury Investment Management has received IFA authorisation. Chief executive Lee Birkett says: "Now the mortgage and general insurance markets have settled down, we want to expand our proposition. We want to make it clear that Prestbury Investment Management is a separate company from the low risk mortgage and GI network Prestbury Financial."

  • Platform appoints Richard Beardshaw as head of sales

    18 Apr 2006

    Platform has appointed Richard Beardshaw as head of sales replacing Jeremy Duncombe who quit earlier this month to join North West-based Advantage.

  • PMS in sub-prime link with Platform

    17 Apr 2006

    Members of Premier Mortgage Service now have access to a sub-prime exclusive from Platform. The minor adverse deal is available on a full status or self-cert basis up to 90% LTV and 85% LTV respectively and is available on two-year fixed rates from 5.55%. John Malone, managing director of PMS, says: This product will benefit our brokers, who can also get binding decisions via clickdecision on the Platform website.

  • Portman revises range and extends end dates

    17 Apr 2006

    Portman has made several changes to its product range including offering a new two-year base rate tracker 4.29%, available with an increased LTV of 90%.The five-year fixed rate at 4.69% will become 4.79%, the two-year fixed rate at 4.44% will change to 4.54%, the two- year fixed at 3.99% with a 1.25% fee will be withdrawn. All end dates have been extended to 31 May.Portman operates a facility whereby the application process can be speeded up when the LTV of a case falls below ...

  • PPI will be a test for our regulators

    17 Apr 2006

    The Office of Fair Trading is looking into the payment protection insurance sector in what is the first example of the OFT working more closely with the FSA, says Bill Warren

  • Psychology key to success, says John Charcol

    20 Apr 2006

    Psychology plays a huge part in the success of the housing market, says John Charcol.

  • RBS launches two-year fix for intermediaries

    17 Apr 2006

    RBS Intermediary Partners is launching a two-year fixed rate mortgage for intermediaries under the First Active brand.The product features a fixed rate of 4.49% until June 2008 with a 699 arrangement fee and is available up to 95% LTV. It also offers free basic legal and valuation fees.A 100% LTV two-year tracker mortgage with no higher lending charge is also being introduced to the RBS house purchase range. It will have an initial rate of 5.39% and a 699 arrangement fee. Overpayments ...

  • Ready to launch

    17 Apr 2006

    Tony Ward, chief executive of Home Funding, will play a pivotal role in launching lender Basinghall Finance this year, says Barney McCarthy

  • Rental yeilds fall, says Landlord Mortgages

    18 Apr 2006

    Quarterly rental yield figures released today by Landlord Mortgages, the specialist buy-to-let broker, show overall rental yield figures in England have fallen from 6.15% from Q4 2005 to 5.91% in Q1 2006).

  • Ritchley to retire

    17 Apr 2006

    Martin Ritchley will retire as chief executive and director of Coventry on June 30. David Stewart, currently operations director at the society, will succeed him as chief executive on July 1. Ritchley will also retire as a member of the Council of the Building Societies Association, having been elected in 1995 and served as chairman in 2001 and 2002.

  • Santander thought to have cooled on A&L

    17 Apr 2006

    Abbey's Spanish owner Banco Santander has reportedly ruled out a bid for Alliance & Leicester.Santander is believed to be looking at further acquisitions following its buyout of Abbey less than two years ago.It has been reported that the bank has looked at A&L but it is under- stood to have decided not to make an approach.A&L shares have rocketed to an all-time high of 1248p as speculation over a possible takeover continues.Chief executive Richard Pym is thought to value ...

  • Should the industry be worried about too many borrowers taking out interest-only mortgages?

    17 Apr 2006

    Borrowers may be taking out interest-only deals for reasons of affordability which could mean big problems ahead, say our experts

  • Smaller brokers can see the Lite

    17 Apr 2006

    Dashboard provides high end web-based solutions for brokers and packagers but its recently introduced Dashboard Lite system has been designed for smaller brokers, says Frank Eve

  • Smoking football fans will love Gretna

    17 Apr 2006

    After reporting from Ireland last week I thought I'd continue the travel theme and turn my attention to Gretna. You may be asking 'where?' and 'why?', but if you bear with me you'll see why this Scottish border town is relevant to the world of mortgages and house prices.

  • SMS appoints IT manager

    19 Apr 2006

    Solent Mortgage Services, the Fareham based branded mortgage arranger, has appointed Mike Tinney to the role of IT manager.

  • Spicerhaart pays off 45m Winterthur loan

    21 Apr 2006

    Spicerhaart, has repaid its financial backer, Winterthur, three years ahead of schedule.

  • SPML appoints BDM for the South

    17 Apr 2006

    Southern Pacific Mortgages Limited has appointed Matthew Calton as business development manager for London and the South, reporting to regional manager Paul Lipton-Rose. Calton joins from The Mortgage Group where he was mortgage and marketing manager.

  • SPML enables Mortgage Intelligence members to submit cases direct

    20 Apr 2006

    Southern Pacific Mortgage Limited has enabled all members of Mortgage Intelligence to submit cases directly to SPML, giving these brokers the choice of submitting cases via the Mortgage Intelligence packaging desk or direct to the lender.

  • SPML launches online deal

    17 Apr 2006

    Southern Pacific Mortgages Limited has launched its near prime online mortgage as the second product in its SPML Online range, accessible only via its online decision in principle system. The online product offers more competitive rates than the lender's standard near prime option.

  • St George's Day competition

    17 Apr 2006

    The Mortgage Partnership has launched its St George's Day competition in association with Rooftop Mortgages as part of the run-up to celebrations on April 23. To enter, TMP is asking mortgage intermediaries to answer the question - what is St George famous for killing?Answers along with daytime telephone number and FSA number should be sent to tmp@themortgage partnership.com.John Mawdsley, director at TMP, says: "The winner and their guest will be put up in a deluxe London hotel ...

  • Stamp Duty still distorts the market

    17 Apr 2006

    The recent Budget brought a slight change in the level of Stamp Duty, with an increase in the zero rate band to a purchase price of 125,000.

  • Sub-prime deals from BM Solutions

    17 Apr 2006

    BM Solutions has launched a suite of three-year deals across its sub-prime and self-cert sub-prime ranges. The sub-prime range includes a three-year fixed rate product at 5.65% available at 90% LTV and three-year tracker at 90% LTV with free valuation at 5.55%. Rates in the self-cert sub-prime range include a three-year fix at 5.89%.

  • Swift adds case tracking into website

    19 Apr 2006

    Swift, the Brentwood-based niche lender, has built case tracking into its website.

  • TBMC reports record applications in March

    17 Apr 2006

    The Business Mortgage Company says it saw a record 172m applications submitted in March.Andy Young, managing director of TBMC, says: "March was an incredible month for TBMC with over 172m of applications received. This is the highest figure for applications since TBMC was formed 15 years ago, and is 62% up on March 2005."We are well on our way to exceeding our challenging business targets for this year."Young adds: "These figures show TBMC adds value to intermediary businesses ...

  • TCF focus is turning to smaller firms

    17 Apr 2006

    Treating customers fairly is one of those slogans that has been around so long that it risks becoming the equivalent of regulatory wallpaper - nobody sees it anymore. That would be a risk and a shame.

  • TFC in talks to take over IMB

    17 Apr 2006

    The Finance Centre is in discussions about taking over the former mortgage packaging arm of the Professional Mortgage Network, IMB.

  • The Finance Centre in move to protect IMBs future

    18 Apr 2006

    The Finance Centre is working on a proposal to take over the mortgage packaging company IMB.

  • The Mortgage Mole

    17 Apr 2006

    short cutDeputy features editor Barney McCarthy has opted for a dramatic image change of style and had all his hair cut off. Though he now resembles a prison escapee, McCarthy maintains that the new streamlined look will be vital in shaving a couple of seconds off his time in the Flora London Marathon 2006 as he guns for a sub-3 hour 45 minute finish.

  • This is still a relationship game

    17 Apr 2006

    Much has changed since regulation but the mortgage business is still all about relationships and as long as these remain strong there is room for optimism, says Sally Laker

  • Time to talk to your clients about HIPs

    17 Apr 2006

    Home Information Pack bashing has become a popular pastime. Everyone of note has taken the trouble to stick the boot in.

  • Todays superwoman is a turn on for Britains men

    18 Apr 2006

    Success no longer comes at the price of love for women according to new research from first direct.

  • Tories change tack on housing policy

    17 Apr 2006

    Earlier this month the Conservatives met in Manchester for their spring conference - the first major gathering of the party since David Cameron was elected leader.

  • Up to 150,000 failed house sales a year could involve gazumping

    18 Apr 2006

    Spring Move reveals that the North West and London are the two parts of England and Wales where you face the biggest risk of seeing a property sale fall through.

  • West Brom backs variable rates

    19 Apr 2006

    Variable rate mortgages will start to become more popular as the pricing of fixed rate deals increases, says the West Brom.

  • West Brom launches buy-to-let product at 4.75%

    18 Apr 2006

    The West Brom has launched a buy-to-let mortgage with a pay rate of 4.75% for two years from completion.

  • Which mortgage deals would you resurrect?

    17 Apr 2006

    It was Easter last weekend and despite what confectionery makers would have us believe, there's more to the holiday than chocolate eggs.With that in mind, and in a spirit of rebirth and renewal, we wondered what deals the mortgage industry misses and would like to revive.So, Mortgage Strategy asks: "Which mortgage products would you resurrect?"

  • Wooing elusive ftbswooing elusive ftbs

    17 Apr 2006

    Lenders are trying to tempt first-time buyers back into the market with innovative deals but social trends and the shortage of affordable properties could mean their efforts are in vain, says Harvey Jones

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