Mortgage Strategy
17 January 2005

  • 1.2% house price fall in December, reveals NAEA

    18 Jan 2005

    The National Association of Estate Agents has revealed that the average property price in the UK fell again by a further 1.2% in December, but finished 2004 on average 6.4% higher than a year ago.

  • 31% return for landlord in 2004, reveals Paragon

    18 Jan 2005

    Landlords had total annual returns of over 31% for properites bought at the beginning of 2004, Paragon Mortgages reveals.

  • A fast track to GI compliance

    17 Jan 2005

    To help mortgage providers align their businesses to meet the FSA requirements, Compliancy Services has incorporated the standards approved by the Financial Services Sector Skills Council into its training and competence programmes.With GI Day now passed, the options for the mortgage industry are limited but we have developed a fast track route to compliance with our Compliance-In-a-Box service. The package offers mortgage brokers all the tools required online to ensure their business ...

  • A View From The floor

    17 Jan 2005

    Although most homebuyers still prefer a detached existence, the popularity of terraces grew during 2004, shows research by Norwich and Peterborough.The number of loans taken out by N&P customers on terraced homes increased by nearly 2% during last year. This compares with a reduction of nearly 3% on detached properties.However, detached remains the most popular choice for N&P homebuyers, followed by semi-detached properties, with terraced homes ranked third.So, terraced ...

  • Accord launches 22 products

    17 Jan 2005

    Accord Mortgages has launched 22 products including fixed, tracker, 100%, offset, professional and new build mortgages, as well as a number of exclusives.

  • Advantage appoints head of secured loans

    19 Jan 2005

    Advantage Home Loans has appointed Mike Phelan to head up its newly-created secured loans arm, Advantage Secured Loans.

  • Advantage launches fees-free remortgages

    18 Jan 2005

    Advantage Home Loans has launched a fees-free offer on remortgages for intermediaries.

  • Amber extends product discount periods

    19 Jan 2005

    Amber Homeloans is launching a range of products offering extended discount periods on the initial pay rates.

  • Anger over non-FSA ads

    17 Jan 2005

    Many ads in the consumer press are still not compliant. On one page of a regional newspaper last week, out of seven adverts for brokers only one complied with FSA rules. The rest failed to be compliant, neither stating an average APR nor that they are regulated by the FSA. Some still say they are regulated by the Mortgage Code Compliance Board.Terry Pritchard, director of Chase UK, says the FSA told his firm that all its adverts had to be changed in 10 days and it revamped all its ...

  • Another way to help victims of the killer tide in SE Asia

    17 Jan 2005

    No doubt MS readers have been watching the tsunami news reports, stunned at the devastation following the massive earthquake off the coast of Sumatra.A phenomenal amount of support has been given by the British public in the form of monetary donations. I am writing to let your readers know about another way they can help - by donating old mobile phones and printer cartridges.These are items that often end up in the bin, yet they have the potential to raise a massive amount ...

  • Are the Lib Dems right to call for self-cert review?

    17 Jan 2005

    Vincent Cable MP, shadow chancellor for the Lib Dems, says: "Now the FSA is regulating mortgages it is essential steps are taken to ensure individuals are unable to overstate income levels."The party has been criticised for bringing the topic up again as self-cert has been covered extensively in the press and on the BBC's The Money Programme in 2003 and 2004.So, Mortgage Strategy asks: Do you agree with the Lib Dems' call for a review of self-cert?

  • B&B in radical fees restructure

    17 Jan 2005

    Bradford & Bingley aims to shake up high street broking by introducing a fixed flat fee of 199 after research showed consumers hated its pricing model of 0.4% or 200 minimum.

  • B&W launches purchase and remortgage range

    21 Jan 2005

    Bristol & West has launched a range of both purchase and remortgage products.

  • Blue Sky

    17 Jan 2005

    Extract from a speech by Stephen Timms, minister for corporate social responsibility, to the Business in the Community conference in London in July 2004

  • BMS launches self-cert range

    17 Jan 2005

    BM Solutions has launched a range of self-cert deals.

  • BMS plans sub-prime attack

    19 Jan 2005

    BM Solutions is expected to launch a fresh attack on the sub-prime sector this week, Mortgage Strategy can reveal.

  • Britannia launches fixed rate mortgages

    21 Jan 2005

    Britannia has launched 10-year, five-year and two-year fixed rate mortgages.

  • Build GI changes into your system

    17 Jan 2005

    If the Christmas holidays were the industry's 'seconds out', the bell sounded for round two last Friday with the start of general insurance regulation.As with Mortgage Day, those who deal with GI had been continuously warned of the January 14 start date, with a majority of firms spending the first weeks of 2005 implementing the new rules. This is encouraging, as any firm regarding their secondary line of business as of secondary significance is likely to run into trouble. (And don't ...

  • C&G added to Mortgage Trading Exchange

    17 Jan 2005

  • Cable should do his homework before rushing into print

    17 Jan 2005

    I was surprised to read a recent news item on the Mortgage Strategy website (January 4) in which Vincent Cable MP, shadow chancellor for the Liberal Democrats, expresses concern about self-cert mortgages.He is reported as saying: "The FSA must now make clear what guidelines are in place and what extra precautions are being taken to prevent imprudent and improper behaviour."It would seem that the FSA investigation into self-cert lending last year and its subsequent guidelines ...

  • Chelsea introduces revised rates

    20 Jan 2005

    Chelsea has kick-started its offerings to borrowers for 2005 with the introduction of a two-year fixed rate mortgage.

  • Chelsea launches two-year sub-prime fix

    17 Jan 2005

    The Chelsea is launching a two-year fixed rate mortgage in its Prospect range and withdrawing the current three-year fixed rate Prospect mortgage.

  • Clarke backs Conservative tax and spend proposals

    19 Jan 2005

    Former chancellor Kenneth Clarke has given his full backing to this week's Conservative proposals for tax and spending.

  • Cluttons brokerage launched to target upmarket clients

    17 Jan 2005

    London estate agent Cluttons has launched brokerage arm Cluttons Private Finance.

  • CML reveals mortgage lending dip in December

    21 Jan 2005

    The Council of Mortgage Lenders has revealed that gross mortgage lending fell marginally in December to 21.3bn compared with 21.7bn in November.

  • CSR can boost sector's image

    17 Jan 2005

    Research has shown companies that devote time to corporate social responsibility programmes and then communicate their achievements gain a competitive edge and are rated more highly by the public than those that steer clear of CSR.CSR is not just about making donations to charity. It's about enhancing and managing your company's reputation through positioning it as engaged with the rest of society, not just shareholders. So CSR combines with public relations in being a tool to build ...

  • Curriculum Vitae - Mark Stephens

    17 Jan 2005

    Age: 44

  • Dear Delia

    17 Jan 2005

    Intermediary response by Simon White

  • Deposit accounts not best option for CTFs, says ABI

    17 Jan 2005

    A survey for the ABI reveals that over four in ten parents are most likely to invest their childs Child Trust Fund in a deposit-based account, despite it not being the best option.

  • Discounts ahead in a bullish year

    17 Jan 2005

    The new year parties are a fading memory and thoughts are turning to what 2005 has in store. There is no doubt that despite the Herculean efforts of the industry to be ready for Mortgage Day, more change is on its way.It is the BSA's view that we have yet to see the full impact of mortgage regulation on the market. There is little doubt that most lenders think the real cost of implementation is substantially higher than the Financial Services Authority's original cost benefit analysis ...

  • Don't miss out on insurance income

    17 Jan 2005

    Those mortgage brokers who have not yet taken steps to become authorised for general insurance business must act swiftly or miss out on lucrative revenue, says Tony Worthy.

  • Duckworth's dream

    17 Jan 2005

    Paul Duckworth has made an enviable start to 2005. While most of us are feeling the pinch after the excesses of the new year, watching the pennies and struggling with our resolutions, he has completed a successful management buyout of xit2, the company he joined just four years ago. Best of all, the deal was personally funded by the directors without the need for venture capital investment. It is the latest step of an agreement made when Duckworth joined the company in 2000 and gives ...

  • Durlacher in takeover talks

    17 Jan 2005

    Durlacher, the investment firm that infamously predicted a buy-to-let meltdown, is reported to be in advanced takeover talks with private investment bank Lazard.It's apparantly set to be merged with stockbroker Panmure Gordon, bought by Lazard last year, creating a business valued at 75m.The resulting firm is likely to be known as Panmure Durlacher.

  • Exposing the myths of property laws

    19 Jan 2005

    Property dealings affect most people on a regular basis even when not involved personally, we have friends or family struggling with the processes of moving, remortgaging or renting.

  • Fast-track FPCs for brokers

    17 Jan 2005

    This means those choosing to take the MAQ exam run by the Chartered Insurance Institute can take the first FPC paper on regulation and then fast-track through to FPC six on mortgages, missing out the interim papers. The aim is attract as many new entrants into the mortgage market as possible.The SMP has also linked with City & Guilds, giving members access to 2,000 additional training facilities in addition to the CII's 60 regional centres.Richard Fox, chief executive of the ...

  • Financial health matters

    17 Jan 2005

    Despite total UK personal debt breaking through the 1trillion barrier in July 2004 just seven years after hitting 500bn for the first time, the whole pack of cards hasn't come crashing down as some predicted.However, I am confused by conflicting information about the state of consumer indebtedness and its chief instigator, the housing market. One moment we're told the market will rise 15% year-on-year, only then to be told that property is 30% overvalued and new mortgage approvals ...

  • Financial Services Forum appoints chairman

    21 Jan 2005

    The Financial Services Forum has strengthened its advisory board by appointing Mike Tildesley as its chairman.

  • Firm told to pull eBay mortgage ad

    17 Jan 2005

    Auction website eBay has told a company inviting bids for a mortgage to withdraw its advert from the site as it offers nothing for users to actually bid for.

  • First impressions count, says propertyfinder.com

    19 Jan 2005

    Research undertaken by propertyfinder.com reveals that broken down vehicles and rubbish topped the poll of househunters bugbears.

  • Forming the right relationships a solution for all packagers

    19 Jan 2005

    Late last year Kensington unveiled its packager Code of Conduct, essentially a service level agreement between us and the packagers we work with. The code outlines that business packagers should engage in business, depending on whether they are authorised or not, as well as the standards and the level of service we expect from them.

  • FOS announces mortgage broker fees

    18 Jan 2005

    The Financial Ombudsman Service has published its fees for mortgage intermediaries.

  • FP and Cartel complete three-year distribution deal

    18 Jan 2005

    Friends Provident and Cartel Group Holdings have agreed a three-year distribution agreement whereby Cartel consultants will provide Friends Provident mortgage-related products to their clients.

  • FP signs multi-tie distribution agreement with Pink

    21 Jan 2005

    Friends Provident has signed a distribution deal with Pink Home Loans, part of the Skipton Group.

  • Freehold bowled over by ad response

    18 Jan 2005

    Freehold, the packaging cooperative aiming to attract small / medium size packagers, says it has been bowled over by the response to recent adverts which have appeared in the trade press in January.

  • FSA proposals cause industry confusion

    17 Jan 2005

    The financial Services Authority has moved to clarify confusion about the future of authorised packagers and branded lenders caused by its new proposals.

  • FSA reshuffles department heads

    17 Jan 2005

    The Financial Services Authority has appointed Stephen Bland as acting director of its small business division, which has responsibility for the majority of mortgage brokers.

  • FSA says GI register is fine

    17 Jan 2005

    The Financial Services Authority is reassuring brokers it has learnt from the experience of Mortgage Day and claims its general insurance register was absolutely accurate by General Insurance Day last Friday.

  • FSA settles proceedings against CIC underwriting agent

    21 Jan 2005

    The FSA has settled proceedings under the Financial Services and Markets Act 2000 against Hogarth Underwriting Agencies Limited and William Dewsall, managing director of Hogarth.

  • GMAC-RFC helps debtors

    17 Jan 2005

    Stephen Knight, chairman of GMAC-RFC, says: "Repossession is a dreadful experience for both the lender and the person involved. It is a horrible process.

  • Good prospects for ambitious professionals

    17 Jan 2005

    But usually there is a sense of anticlimax surrounding the reality. Back at work, the humdrum atmosphere of January makes for a unimaginative and unmotivated month.But worry not. Unlike new year's eve the mortgage industry will not predictably produce an anticlimax. The year ahead brims with promise.The market is entering phase two of ...

  • Handle with care

    17 Jan 2005

    Equity release has been hyped by some as a panacea for the scores of elderly people facing a pensions crisis, but mortgage advisers should still treat it with caution.There is no doubt that equity release, whereby older people unlock some of the value of their property without having to sell it to supplement their income, has seen a boom recently. In the third quarter of last year alone the total value of equity release taken out through Safe Home Income Plans and non-SHIP providers ...

  • Heritable approvals slow

    17 Jan 2005

    Mark Sismey-Durrant, chief executive at Heritable Bank, says economists who attribute the recent decline in the rate of mortgage approvals solely to a slackening market are overlooking regulation.

  • House prices fall, but lowest for three months, says RICS

    18 Jan 2005

    UK house prices fell further in December, but at the slowest pace in three months according to the Royal Institution of Chartered Surveyors monthly housing survey.

  • Housing market boosted by January sales, says haart

    19 Jan 2005

    The latest data from haart has shown a dramatic rise in the number of people selling their homes across the country.

  • IFAs fear PI hike after regulation

    17 Jan 2005

    A survey of IFAs by professional indemnity broker PYV has found that 43% believe general insurance regulation will further hike up the cost of PI premiums in 2005.

  • Insurance regulation can be good news

    17 Jan 2005

    So, the second phase of regulation has kicked in with general insurance being regulated by the Financial Services Authority as of midnight on January 13. I can hear the moans from some quarters already - more learning, more paperwork, even more regulation.The message coming across from the brokers I have spoken to recently is that they see the implications of GI regulation as enormous.I'll be more specific. Pre-FSA, brokers could sign up a client for an ASU policy in just a ...

  • Interactive Investor appoints marketing director

    21 Jan 2005

    Interactive Investor has appointed Jason Atkinson as marketing director.

  • KFI awareness campaign hits the national press

    17 Jan 2005

    The Financial Services Authority kick-started a KFI awareness campaign in the national press last week.

  • L&G's endowment appeal rejected

    18 Jan 2005

    The Financial Services & Markets Tribunal has reached its judgment in respect of the FSA's case against Legal & General Assurance Society.

  • Labour focusses on rates

    17 Jan 2005

    It has launched a poster campaign including one image highlighting that mortgage rates are at their lowest for 40 years.

  • Lenders' non-refundable fees policy is a concern

    17 Jan 2005

    I am becoming concerned about lenders charging non-refundable fees. I have a particular gripe with Northern Rock which seems to apply the non- refundable rule as soon as the application hits its desk.Section 115 of the Consumer Credit Act states that if a contract for a lending proposition does not complete, brokers cannot charge more than 5. This should also apply to lenders who accept an application in good faith from a broker only to decline it on a policy rule. I have no complaints ...

  • Letwin and Osborne challenge Blair to come clean on tax

    18 Jan 2005

    The Conservative Party today challenged Tony Blair to say which taxes he would raise if Labour win the next election.

  • Market Watch

    17 Jan 2005

    l One-year money is down 0.01% at 4.87%l Two-year money is down 0.04% at 4.78%l Three-year money is down 0.04% at 4.78%l Five-year money is down 0.02% at 4.81%Portman's two-year fixed rate at 4.49% has been pulled, though it's been replaced with a deal at 4.74%. Halifax is not winning many friends by continuing to pull rates at short notice. An email on Friday January 7 at 7.30pm said it was launching new rates (and increasing fees) which would be available at 4.30pm on Monday but ...

  • MEX 130% mortgage threatened with investigation

    18 Jan 2005

    Mortgage Express has been threatened with an investigation over its Max 130 mortgage.

  • MMC moves premises

    18 Jan 2005

    The Mortgage Marketing Centre is moving to new premises on January 10 2005.

  • Mortgage lending rises by 5.7bn in December, says MBBG

    21 Jan 2005

    The Major British Banking Groups have revealed that net mortgage lending strengthened in December 2004 by 5.7bn.

  • Mortgage Promotions teams up with Complinet

    19 Jan 2005

    Mortgage Promotions has teamed up with Complinet to offer Mortgage Promotions registered users a discount on its regulatory online service.

  • Mortgages PLC speeds up proc fee payments

    20 Jan 2005

    Mortgages PLC has enhanced its process for payment of procuration fees.

  • MPC freezes base rate for another month

    17 Jan 2005

    The Bank of England's Monetary Policy Committee last Thursday maintained the base rate at 4.75%, as was expected by the industry.

  • MS voters condemn Gummer decision

    17 Jan 2005

    Nearly eight out of 10 brokers believe there is a clear conflict of interest in AMI chairman John Gummer accepting a non-executive role at Sovereign Reversions.

  • Network Data might head a commission skimming table

    17 Jan 2005

    The market knows well how Richard Griffiths makes a practice of writing articles that depict his Network Data as being superior to its competitors.The tables produced on page 13 of Mortgage Strategy January 10 achieve this all too well - Richard must have had a boring Christmas.Why doesn't MS ask him to produce a table ranking the biggest increases in network membership fees in the shortest time?Network Data would no doubt be at the top of that too, since the Christmas ...

  • Nick's notes

    17 Jan 2005

    Welcome to the first instalment of Nick's Notes. And what better time to start a new weekly column about protection business than in the first edition of Mortgage Strategy produced in a regulated insurance market.

  • No MCCB money for SE Asia

    17 Jan 2005

    The Mortgage Code Compliance Board says it will not be able to donate its surplus funds to the tsunami appeal.

  • On the beat

    17 Jan 2005

    I have talked on a number of occasions about the role the financial services industry can play in educating the customer. This education can be split into two areas: a level of knowledge and understanding of the product being purchased and the knowledge, confidence and understanding to approach the market to satisfy product requirements.It is good to see the Financial Services Authority is starting an awareness campaign regarding the Key Facts Illustration. The KFI and the Initial ...

  • Packagers thrown into confusion

    17 Jan 2005

    The future of small regulated mortgage packagers could take a turn for the worse with the publication of the Financial Service Authority's first consultation paper of 2005.

  • Paragon launches products to help landlords

    21 Jan 2005

    Paragon Mortgages has launched two products designed specifically to help landlords.

  • Pension changes will boost B2L

    17 Jan 2005

    Changes to pension funds in 2006 will enhance the buy-to-let market, the National Association of Commercial Finance Brokers claims.

  • Pink launches 'Have your Cake and Eat it' campaign

    17 Jan 2005

    Pink Home Loans has launched its Have your Cake and Eat It campaign, promoting packagers giving both clients and brokers a better deal.

  • Pink moves to grow in Scotland

    17 Jan 2005

    Pink Home Loans has moved to take a bigger share of the Scottish market.Following feedback from intermediaries, Pink has removed the administration fee for packaged cases and is offering free valuations and 250 cashback toward legal fees for all Scottish cases on selected branded adverse remortgage products. It is also launching a solicitor introduction service, teaming up with Walker Laird.The campaign will be supported by Pink's full-time business development manager for Scotland ...

  • Principality makes two board appointments

    19 Jan 2005

    Chris Rowlands and Tracy Morshead have been appointed to the board of The Principality. Rowlands brings to The Principality board considerable experience having spent his entire career within the financial services industry and in the corporate finance division of Arthur Andersen.In October 2002 Rowlands returned to the 3i Group, where he had previously worked for 12 years and currently holds the post of executive director managing the 3i network across Europe and Asia.Rowlands ...

  • Property a long-term investment, says Landlord

    18 Jan 2005

    Research from Landlord Mortgages has revealed that buy-to-let investors see property as a long-term investment.

  • PYV offers FSA waiver and interim authorisation PI for IFAs

    18 Jan 2005

    PYV, a specialist professional indemnity broker, has negotiated two exclusive deals for IFAs which will mean that firms still looking to obtain PI cover will be able to secure cover without being heavily penalised. Following the introduction of the insurance mediation directive on January 14 2005, many IFA firms granted with waivers by the FSA that have not yet obtained PI cover are now trading illegally. However, PYV has successfully secured the rights to provide competitively ...

  • Raising standards across the industry

    17 Jan 2005

    Since the advent of mortgage regulation I have heard many stories about how the rules - and particularly the problems of providing a compliant Key Facts Illustration - have affected business levels and held intermediaries back from processing applications efficiently.It's not that KFIs aren't available - they are - but it's how to get them integrated into the mortgage intermediary's sales process that's the problem.I still think what is needed is agreed data standards to help ...

  • Remortgagors warned over broker fees

    19 Jan 2005

    A mystery shopping exercise commissioned by Ethical Mortgage Solutions reveals that some brokers are hitting customers with unacceptably high fees.These range from 1% to 3% of the loan size, details of which are too often overlooked in the small print.Steve Royal, chief executive of Ethical Mortgage Solutions, says: "Our research shows that the range of fees charged can often make a difference of thousands of pounds on typical remortgages."This is the time of year ...

  • Research potential employers before your interview

    17 Jan 2005

    You've accepted the interview. You have an agreed time, date and venue. It's pretty exciting, but what do you do now?Well, the first thing is to research your interviewers. There are four main ways this can be done, giving you a better understanding of the types of individuals you will be interviewed by.Google is a powerful internet research tool. This search engine can help you explore your interviewers' backgrounds. Results could surprise you by providing more information than ...

  • Right to Buy scheme extended

    21 Jan 2005

    Housing association tenants are to be given the Right to Buy their homes under plans to be set out next week.

  • Scarborough launches Plasma Mortgage

    18 Jan 2005

    Scarborough is to offer customers a plasma television with their mortgage.

  • SecureMove to stay independent

    17 Jan 2005

    Surveyor SecureMove Property Services, recently acquired by Countrywide from Bradford & Bingley, has dismissed speculation that it might merge with Countrywide Surveying.Any rumours that SecureMove could be incorporated into the larger Countrywide Surveying network were dispelled at a recent trade expo.Peter Bray, managing director of SecureMove, says: "This year more than any, it is important that SecureMove reassures clients that we continue to offer a wide range of property ...

  • Skipton funds affordable housing project

    21 Jan 2005

    Communities in the Yorkshire Dales are in line for a 10m cash injection to safeguard their future, thanks to Skipton.

  • Societies to lead the way in recruitment

    17 Jan 2005

    Building societies are expecting a jobs boost despite last year's poor summer, says the Confederation of British Industry.

  • Solent launches lender products

    19 Jan 2005

    Solent Mortgage Services has launched products from three of its main lenders; Capital Home Loans, Future Mortgages and Amber Home Loans.Ian Balfour, sales and marketing director, says: "The launch of products is always exciting but having three lenders announce new products at the same time is hopefully a sign that the industry is recovering from the regulatory changes and can now look to 2005 with greater confidence."

  • SPML appoints West Midlands BDM

    19 Jan 2005

    Southern Pacific Mortgage Limited has appointed Amy Boon as business development manager within its West Midlands sales team.

  • Stars line up for commercial fund

    17 Jan 2005

    SIR ELTON John, Rod Stewart, David Bowie and Pop Idol judge Simon Cowell are among the showbiz stars set to sign up to a 400m commercial property fund.

  • Take care when advising on SPASU, warns AMI

    17 Jan 2005

    The Association of Mortgage Intermediaries is warning brokers that recommending single premium accident, sickness and unemployment cover as the answer to all the protection needs of clients is not feasible under the FSA.

  • TBMC unveils buy-to-let rates

    19 Jan 2005

    The Business Mortgage Company has launched two buy-to-let rates to enhance its portfolio of products.The schemes offer either a 0.7% two-year discount giving a pay rate of 5.48% or a two-year fixed rate of 5.45%.John Ford, head of commercial lending for TBMC, says: "These rates are highly competitive and demonstrate how keen TBMC is to be at the forefront of product development in buy-to-let lending."

  • The emotional straw that has broken the back of apathy

    17 Jan 2005

    Over the past few days I have spoken to many in the industry regarding how the mortgage sector can practically assist in the Tsunami Appeal.I was shocked at what I saw on TV and what made it worse was the realisation that the same number as died in the Far East as a consequence of the tsunami (150,000) die in Africa every week as a result of famine.The drama of the tsunami made good press and, appallingly, that's what we are reacting to. The African plight, because of it's longevity, ...

  • The Exchange to customise portal for Pink

    19 Jan 2005

    The Exchange and Pink Home Loans are working together to develop a customised trading platform based on The Exchanges Exweb broker portal.

  • The Mortgage Works launches adverse range

    21 Jan 2005

    The Mortgage Works has launched its first adverse credit range.

  • Thousands get SUSD to Stamp Duty

    17 Jan 2005

    Mortgage Strategy's campaign to Step Up Stamp Duty gathers momentum by the day.

  • TMO launches exclusive products

    21 Jan 2005

    The Mortgage Operation has launched two exclusive products to be sold through its Grosvenor Home Loans brand.

  • TMW calls on Lib Dems to reconsider self-cert stance

    17 Jan 2005

    The Mortgage Works says that the Liberal Democrats should reconsider their critical stance on self-cert mortgages following the introduction of statutory regulation.

  • Tories plan blitz on taxes

    17 Jan 2005

    With May fast approaching, the Tories have come up with a number of ideas on to how to deal with the two taxes.The party says independent research shows that in five years' time one in eight people will be caught in the Inheritance Tax net compared with just one in 40 five years ago.Because of this, it has come up with five options. These include abolishing the tax completely; lowering the Inheritance Tax rate from 40%; exempting principal residences from the tax completely; ...

  • Vanessa Blount new head of Paaleads.com

    18 Jan 2005

    Paaleads.com, the leads generation arm of moneysupermarket.com, has appointed Vanessa Blount as its new head.Blount joins Paaleads.com from Mortgage 2000 Financial Group where she was general manager of the packaging arm Mortgage 2000 Design & Processing. Previously she worked for TMB. Stuart Glendinning, managing director, Paaleads.com says: "We are very pleased to welcome Blount to the team and have every confidence that her ten years of experience in the lending industry ...

  • Walsall Council hosts private landlord event

    21 Jan 2005

    Walsall Council held an event for private landlords within their borough last Tuesday at Bescot Stadium.

  • Welsh think tank forecasts interest rate fall

    19 Jan 2005

    A Welsh-based economic think tank is forecasting that interest rates may have to be radically cut this year in order to avoid recession in the UK.

  • What developments will the equity release sector see in the next 12 months?

    17 Jan 2005

    Regulation has bedded in and the Safe Home Income Plans' reversion code and complaints' process have been positively received.Rather than repeating statistics about what we think will be the business levels for the industry this year, let's consider what lies ahead. The buzzword from providers looking at entering the market is - what do customers want? Not the norm, you may think. This could well be a year of product innovation, though new market entrants have not emerged as expected ...

  • Which? backs FSA decision on L&G

    19 Jan 2005

    Which? says the Financial Services & Markets Tribunal decision regarding Legal & General shows that L&G did make failures that contributed to mis-selling.

  • Wolverhampton broker shuts down

    17 Jan 2005

    A mortgage broker in Wolverhampton closed last week amid reports in the Express & Star that more than 100 people have been left without jobs and thousands of customer accounts are in jeopardy.

  • Wolves legend Bull to open Secure branch

    19 Jan 2005

    Former Wolverhampton Wanderers striker Steve Bull will launch the Wolverhampton branch of Secure Mortgages on January 27.

  • Xit2 completes MBO led by MD Duckworth

    17 Jan 2005

    IT firm xit2 has completed a management buyout led by managing director Paul Duckworth.

  • Yorkshire donates 95,000 to Marie Curie Cancer Care

    21 Jan 2005

    Yorkshire has donated 95,000 to Marie Curie Cancer Care as a result of its Care at Christmas appeal.

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