Mortgage Strategy
18 June 2007

  • Commercial First appointment

    18 Jun 2007

    Commercial First has appointed Tom Clark as regional sales manager for its South Central region. He will report to Mark Johnson, head of sales at Commercial First. Clark joins the lender from Northern Rock where he was commercial finance manager for three years.

  • Concordia offers tracker deals

    18 Jun 2007

    Concordia has unveiled three exclusive tracker rate products. The first from Abbey is fixed at base rate minus 0.31% with a £1,499 fee and the second from Intelligent Finance is a two-year tracker priced at base rate minus 0.26% with a £1,695 fee. The other is a two-year tracker from Bank of Scotland at base rate minus 0.36% with a £1,489 fee or at base rate minus 0.26% with a £1,499 fee. All the products are available up to 90% LTV.

  • MS columnist takes on ABI role

    18 Jun 2007

    Mortgage Strategy columnist Nick Kirwan is to take over from Richard Walsh as head of health and protection insurance at the Association of British Insurers.

  • Paaleads.com established in 2002

    18 Jun 2007

    Paaleads.com was established in 2002. It is the exclusive retailer of leads sourced from Moneysupermarket.com but also sources leads from other leading UK websites.

  • Platform appoints risk director

    18 Jun 2007

    Platform has appointed Alexia Antoniou as director of risk and compliance. Reporting directly to managing director David Tweedy, Antoniou will oversee a 19-strong team including Platform's head of risk and head of compliance.

  • Recruitment boss for Connells

    18 Jun 2007

    The Connells Group has appointed Georgina Morley as mortgage services recruitment manager. Morley will supervise mortgage services vacancies in the company.

  • 10,200 Estate agents join Ombudsman scheme

    18 Jun 2007

    The Ombudsman for Estate Agents has reported rocketing membership numbers and now boasts over 10,200 full members.

  • A case of the haves and the have nots

    18 Jun 2007

    Forget the North-South thing - the UK is now divided between those with houses and the growing numbers who can't afford them and Whitehall must act before things get worse, says Mel Dring

  • A&L unveils latest products

    18 Jun 2007

    Alliance & Leicester has unveiled its latest range of prime, self-cert, near-prime and buy-to-let mortgage deals. It includes a self-cert two-year fixed rate from 5.69% up to a maximum 85% LTV, an arrangement fee of £1,999 and an early repayment charge of 6% until August 31 2009.

  • A&L appoints Bennett as chief executive

    18 Jun 2007

    Alliance & Leicester named group finance director David Bennett as its new group chief executive last week.

  • Abacus appoints new head

    18 Jun 2007

    Abacus sales appointment Abacus Permanent has appointed Gavin Treacy as head of sales

  • Abbey reprices fixed rates

    20 Jun 2007

    Abbey has repriced its fixed rates with two-year fixed rates from 5.49% through its intermediary arm.

  • Abbey to the rescue of first-timers

    18 Jun 2007

    Right now there are many things you don't want to be - connected to arms dealers in Saudi Arabia, a contestant on Big Brother or a first-time buyer.

  • Act smooths path to equity release

    18 Jun 2007

    Arranging equity release on leasehold properties is an issue I've written about before, but such is its continuing relevance that it's worth revisiting.

  • Advantage launches sub-prime product range

    21 Jun 2007

    Advantage has launched a sub-prime product range including two-year fixed rates from 5.79% and has also mades criteria changes.

  • Afforablemortgages.co.uk launches recruitment drive

    21 Jun 2007

    Affordablemortgages.co.uk has launched its self-employed broker offering.

  • AHIPP appoints new chairman

    20 Jun 2007

    The Association of Home Information Pack Providers has appointed a new chairman, Martin Willard, to take over from Ian Turner.

  • AIFA praises FSA for its "robust" compensation scheme proposals

    22 Jun 2007

    The Association of Independent Financial Advisers has praised the Financial Services Authority’s for its proposed reform of the compensation scheme as “robust” and “fair”.

  • Appointment at Money Partners

    18 Jun 2007

    Money Partners has appointed Adam Henry as director of secured lending. Henry, previously sales and marketing director for Money Partners, will be responsible for the loans sales team, related broker relationships and all aspects of secured loans marketing, product design and development.

  • Astra's rising star is new MD Graham Toy

    18 Jun 2007

    Norwich & Peterborough has appointed Graham Toy as head of commercial and intermediary lending and managing director of its subsidiary, Astra Mortgages.

  • ATOM appoints onsite underwriter

    19 Jun 2007

    All Types of Mortgages has appointed an onsite underwriter from DB Mortgages.

  • AToM to launch IVA proposition

    18 Jun 2007

    Packagers are the way forward for the distribution of individual voluntary arrangements, says All Types of Mortgages.

  • Auction losers wasted £22m in 2006

    18 Jun 2007

    Unsuccessful bidders at property auctions collectively racked up losses of nearly £22m last year, according to auction website Humraz.com.

  • Average House price hits £260,832 in May

    20 Jun 2007

    The average price for a new home reached £260,832 in May - the highest average price for a new home ever recorded by the SmartNewHomes.com monthly index. Fuelled by a buoyant demand for new homes across large areas of the UK and led by strong price growth in both East Anglia and the South West, the second quarter of 2007 has recorded a surge in price growth, with the average price for a new home now exceeding all previous records. While average new home prices had been ...

  • B&B predicts lending growth in 2007

    21 Jun 2007

    Bradford & Bingley. has predicted its net residential lending in the first half of 2007 will be almost double the level achieved in the same period of 2006.

  • Bankhall appoints GlobalExpense to manage employee claims

    20 Jun 2007

    Bankhall has appointed GlobalExpense to manage the whole of its employee expense claims process. Bankhall typically pays £300,000 in employee expenses every year, mainly for vehicle cost claims and travel expenses. Darren Veevers, finance director, at Bankhall says: “Purely in terms of the cost reduction we’ve made, GlobalExpense has been worth it.”

  • Barclays may be forced to scrap "Nazi" eagle logo

    19 Jun 2007

    Barclays may be forced to scrap its 317 year-old eagle logo due to concerns from ABN Amro, its Dutch merger partner, that the design has Nazi connotations, press reports have claimed.

  • BBC's surprising take on interest-only mortgages

    18 Jun 2007

    As a regular reader of your magazine, I am familiar with all the arguments about interest-only mortgages taken out for affordability reasons.

  • BDM of the Week

    18 Jun 2007

    As well as having comprehensive knowledge of the lenders on her firm's panel, Kayleigh Barratt is always contactable and proactive about solving problems, says Robert Sullivan

  • Big lenders should learn from Principality's example

    18 Jun 2007

    In a market where a few big names dominate, it takes a regional lender like Principality to set an example the rest should follow.

  • Blair's legacy includes fewer FTBs, says Propertyfinder.com

    20 Jun 2007

    As Blair prepares to move out of Downing Street, Propertyfinder.com says his housing market legacy includes lowering mortgage rates but also a decline in first-time buyer numbers.

  • Breaking news The Hunt is on for Lehman Brothers

    18 Jun 2007

    Paul Hunt has been appointed as director of marketing at Lehman Brothers' Mortgage Capital division, beginning in September.

  • Brokers are worth every penny they get these days

    18 Jun 2007

    I am writing in response to Paul Lewis' comment piece in the June 11 issue of Mortgage Strategy.

  • Brokers could exit Park Row

    18 Jun 2007

    Kevin Paterson's imminent departure from Park Row Ass-ociates could trigger an exodus of mortgage brokers from the firm, inside sources claim.

  • Brokers praise TMW system

    18 Jun 2007

    The Mortgage Works says its new electronic trading platform has gone down well with brokers.

  • Building society advances hit £4.636m in May

    20 Jun 2007

    The Building Societies Association has reported that building society gross advances hit £4,636m in May 2007,up from £4,613m in May 2006.

  • Business battle

    18 Jun 2007

    Lenders must be transparent about their retention strategies so brokers can compete to offer customers the best possible deal, says Christine Toner

  • C&G launches intermediary-only trackers

    22 Jun 2007

    Cheltenham & Gloucester is launching a new range of intermediary-only tracker products, available from Monday June 25 2007.

  • C2 bosses buy stake in Mortgage Mosaic

    18 Jun 2007

    David Wylie and Justin Caffrey, the proprietors of c2-financial, have ac-quired a minority shareholding in Mortgage Mosaic, the firm that operates Mosaic Mortgage Club.

  • Calculate the benefits of insurance

    18 Jun 2007

    I'm one of the loudest critics of the size of the Financial Services Authority's annual budget and its lack of concern for the cost of regulation, so I was delighted to see its recent announcement on annual fees.

  • Carbon zero homes are a long way off, says CML

    19 Jun 2007

    The Council of Mortgage Lenders say carbon zero homes are a long way off being produced.

  • Cattles enjoys loans bonanza

    18 Jun 2007

    Sub-prime finance specialist Cattles has revealed strong growth for the first half of 2007 with trading above management expectations.

  • Chelsea to launch green deal soon

    18 Jun 2007

    Chelsea has revealed that it will shortly launch a green mortgage. The society is working on a green product but has yet to finalise how this will be underwritten. It is also talking to charity Energy Savings Trust about the possibility of giving clients free energy assessments.

  • Cheshire sues surveyor for £9m

    18 Jun 2007

  • Click signs up ex-NASA man

    18 Jun 2007

    Click has taken on former NASA researcher Trevor Tsang as its web development manager. Tsang joined Click recently from eGov Monitor, the firm he co-founded. After gaining his PhD in remote sensing from University College London in 1997, Tsang worked for NASA, helping develop its EOS Terra satellite programme.

  • Cobalt links up with property website

    18 Jun 2007

    Cobalt Capital has teamed up with new property website Zoomf.com to ex-clusively provide mortgage information and advice to its users.

  • Commercial First appoints BDM for Northern Ireland

    18 Jun 2007

    Commercial First has appointed Sally Williamson as business development manager for Northern Ireland, six months after it first launched in the region.

  • Commercial tie-up may mean clients don't get best advice

    18 Jun 2007

    I have a question about the recent link-up between InterBay Commercial and Trigold to provide a sourcing module for brokers.

  • Council tax evaders could face bankruptcy

    18 Jun 2007

    Residents who dodge paying council tax could face bankruptcy, warns Vale Royal Borough Council.

  • CurriculumVitae

    18 Jun 2007

    "I soon gave up the unicycle - it hurts too much when you fall off."

  • Dear Delia

    18 Jun 2007

    Dear Delia I have a client who is looking to purchase a large Victorian house that has been converted into five self-contained flats. He confirms that planning permission is in place and building regulations have been certified. However, there is no separate legal title for each unit. While my client could obtain separate leaseholds, he is reluctant to incur the costs of doing so. Are there any lenders that would help?

  • Don't write off buy-to-let just yet

    18 Jun 2007

    Pundits who predict a buy-to-let market crash fail to take account of the fundamental strengths of the sector and underestimate the staying power of landlords, says Mark Harris

  • Double-edged debate about fees

    18 Jun 2007

    The debate about broker commission could put some consumers off using brokers but it also helps us to keep the fair treatment of customers at the forefront of our minds, says Sally Laker

  • Eco-home gets five stars

    18 Jun 2007

    The Building Research Es-tablishment has unveiled the UK's first home to be awarded five stars under the Department for Communities and Lo-cal Government's sustainable homes code.

  • Ed Payne to join SPPL

    21 Jun 2007

    Lehman Brothers Mortgage Capital Businesses has appointed Ed Payne as head of sales at Southern Pacific Personal Loans.

  • Edeus appoints BDMs

    19 Jun 2007

    Edeus has expanded its sales team with two additional business development managers, one of whom is rejoining the edeus team.

  • Edeus enters fixed rate arena with two-year deals

    18 Jun 2007

    Edeus has stormed into the fixed rate market, launching a series of two-year fixed rate products in its self-cert, sub-prime and buy-to-let ranges.

  • Edeus secures extra funding

    18 Jun 2007

    Edeus has struck a funding deal with Deutsche Bank. Under the agreement, edeus will have access to £500m via a Deutsche Bank warehouse funding line. This arrangement is in addition to edeus' existing facilities and will allow it to increase its liquidity.

  • Employment fell in early 2007

    18 Jun 2007

    The employment rate fell sharply in the three months to April this year. The number of people in work during that period was 29,01 million - down 10,000 over the quarter but up 87,000 compared with the same time last year.

  • Energy assessors speed through training to win a hybrid car

    21 Jun 2007

    National Energy Services is launching another Toyota Prius prize draw to encourage assessors to qualify before August 1.

  • Enterprise confirms 200 ADV2 enquiries

    22 Jun 2007

    Enterprise Finance has confirmed it has received over 200 ADV2 enquiries from brokers following the launch of the new ADV2 product range.

  • Enterprise extends fees-free campaign

    21 Jun 2007

    Enterprise has extended its fees-free campaign to the end of July.

  • Fast-track abuse rife, says broker

    18 Jun 2007

    Brokers have been accused of abusing fast-track underwriting by placing self-cert clients on these deals.

  • First-time buyers face further base rate misery

    18 Jun 2007

    First-time buyers' endangered status worsened last week with the threat of further base rate rises and mortgage interest payments hitting a 15-year high.

  • Float may buoy Moneysupermarket brands

    18 Jun 2007

    Rumours of a possible stock market floatation for Moneysupermarket.com were the talk of the industry last week, with pundits forecasting an even more prominent role for the price comparison website and growth for its broker-facing brands.

  • Focus adds to mortgage team

    18 Jun 2007

    Focus Solutions Group has strengthened its mortgage team with the appointment of Clive Boulton as business development manager and Alan Gordon as business consultant.

  • Former Nationwide CEO given 1.6m for "agreeing" to retire

    19 Jun 2007

    Nationwides annual report reveals former chief executive Philip Williamson received a massive 1.6m settlement for agreeing to early retirement.

  • French lenders increase LTVs for UK and Irish nationals

    22 Jun 2007

    French lenders are now offering higher LTV mortgages to UK and Irish residents, research from Assetz Finance reveals.

  • FSA appoints director of retail firms division

    20 Jun 2007

    The Financial Services Authority has appointed Sheila Nicoll, currently deputy chief executive of the Investment Management Association as its new director of the retail firms division.

  • FSA approved firms dropped by 688 last year

    21 Jun 2007

    The Financial Services Authority’s annual report today revealed the number of approved firms dropped by 688 to 28,281.

  • FSA financial promotions rulebook to be cut by half

    20 Jun 2007

    The Financial Services Authority has revealed its financial promotions rulebook will be cut by half in line with the move to principles-based regulation.

  • FSA must communicate in English

    18 Jun 2007

    It was great to be quoted in Mortgage Strategy's interview with the FSA's head of mortgages but she didn't address my point - at least, I don't think she did, says Rob Griffiths

  • FSA to probe private equity risks

    18 Jun 2007

    The Financial Services Authority is to assess the risks posed by private equity firms investing in the UK financial sector.

  • FSA's accessible guide for small firms

    18 Jun 2007

    I make a habit of visiting the small firms section of the Financial Services Authority's website, particularly the bit that used to be labelled 'mortgage advisers' but is now entitled 'mortgage and other home finance advisers'.

  • FSCP urges FSA to end commission payments to advisers

    18 Jun 2007

    The Financial Services Consumer Panel has urged the Financial Services Authority to end commission payments to advisers to avoid future mis-selling scandals.

  • Genetic tests no impediment to cover

    18 Jun 2007

    At the recent Race for Life events that took place around the country, about 110,000 women ran to raise money for breast cancer research. Events like this remind us that cancer research in the UK is almost entirely funded by voluntary contributions. We should congratulate everyone who took part, especially the organisers who did a fantastic job.

  • GHL and Salt offer refund

    18 Jun 2007

    GHL Group has teamed up with Salt to celebrate the lender's six-month presence on its panel by offering all its remortgage applicants a £250 refund on application fees plus free legal fees and surveys until August 3.

  • GMAC sees best day of business

    18 Jun 2007

    GMAC-RFC says June 13 was its best day of business, with over £150m worth of applications submitted.

  • GMAC-RFC and MTE report improved speed

    19 Jun 2007

    GMAC-RFC and Mortgage Trading Exchange say they have further improved the overall speed and performance for brokers that use MTE to apply for a decision with GMAC-RFC. The two companies say brokers have reported that the time taken to complete the form within MTE has halved. Julie Gaskin, corporate relations manager at GMAC-RFC, says: “We had received feedback from our brokers saying that the process was slower going through MTE to obtain a decision.

  • Godiva launches ERC-free 125% product

    20 Jun 2007

    Godiva Mortgages is adding a flexible fixed rate product with no early repayment charge to its MOREgage range.

  • Government HIP spend unveiled

    18 Jun 2007

    The Government has spent over £82,000 promoting Home Information Packs and energy performance certificates in the south-east alone it emerged last week.

  • Government outlines housing supply proposals

    21 Jun 2007

    The government has outlined proposals that set out how Communities England - a new housing and regeneration agency - will support local areas deliver both social and private housing.

  • Green choices to guide self-builds

    18 Jun 2007

    Having already considered the energy efficiency measures your clients should include in renovation projects, this time let's look at self-build properties.

  • Growing business

    18 Jun 2007

    Brokers should consider getting into equity release as product development and wider lender choice will ensure the sector's expansion, says Ged Hosty

  • HBOS is down but by no means out

    18 Jun 2007

    Much of the discussion about the state of the mortgage market revolves around figures - the level of house price inflation, movements in the base rate or the income multiples first-time buyers need to get on the property ladder.

  • HBOS slip shows the client is king

    18 Jun 2007

    Last week's news that HBOS had lost market share was a timely reminder that irrespective of what lenders may like to think, the consumer is king. And the lending giant identified its retention strategy as the banana skin that caused the slip-up.

  • Hitachi unveils MPPI website

    18 Jun 2007

    Hitachi Capital has launched a website to offer brokers an end-to-end solution for selling mortgage payment protection insurance direct to consumers.

  • Home Buyer Systems launches TCF system

    22 Jun 2007

    Home Buyer Systems has launched a stand alone Treating Customers Fairly system for mortgage and general insurance firms.

  • HomeBuy picks up speed

    18 Jun 2007

    The combined total that the Yorkshire and Advantage have invested in the Open Market HomeBuy scheme has reached over £150m since its launch last year.

  • Hometrack and Trigold prosper

    18 Jun 2007

    Hometrack and Trigold have completed 15,000 valuations in the month since instant property valuations have been available through the sourcing system.

  • House prices rose faster in April

    18 Jun 2007

    Annual house price inflation rose to 11.3% in April from 10.9% in March, statistics from the Department for Communities and Local Government reveal. Between March and April there was a rise of 1.2% in the prices of properties bought compared with a smaller rise of 0.8% over the same period last year. Annual house price inflation in London was up to 14% in April from 13.9 % in March.

  • I have learnt that sourcing systems are not infallible

    18 Jun 2007

    Regarding the recent letter from Rob Stead (Mortgage Strategy June 11), while I agree with the sentiments he expresses, years of bitter experience have taught me that sourcing systems are not infallible.

  • IF to offer DIPs in five minutes

    18 Jun 2007

    Intelligent Finance will offer a five-minute online decision in principal via mform.co.uk. Francis Ghiloni, marketing and business development director of mform.co.uk, says: "Savvy consumers are comfortable conducting business over the internet."

  • IFA fines pass £500,000 mark

    18 Jun 2007

    The Financial Services Authority has fin-ed financial advisory firms over £500,000 so far in 2007, with Kilminster Financial Management the latest to take a hit.

  • IFS members scoop up Queen's award

    19 Jun 2007

    The ifs School of Finance has revealed that two of its board members have been awarded honours in the Queens Birthday Honours list. Board member professor David Melville, also vice-chancellor of the University of Kent, is knighted for services to higher and further education whilst professor Elaine Kempson, director, personal finance research centre, University of Bristol is to receive a CBE for services to the financial services industry.

  • IFS wants TCF qualifications

    18 Jun 2007

    The IFS School of Finance has called on financial advisers to consider gaining qualifications in the Treating Customers Fairly initiative to meet the Financial Services Authority's expectations.

  • It's important to give brokers choice

    18 Jun 2007

    Every couple of months, the debate over whether firms should be appointed representatives or directly authorised comes up. Interestingly, at these times views are usually expressed by those organisations that only offer one route or the other.

  • Judgement day for rogue brokers

    18 Jun 2007

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

  • Kensington launches fees free deals

    19 Jun 2007

    Kensington has launched two exclusive deals offering fee-free remortgages and fixed rates from 5.55%.

  • Kevin McCloud turns developer

    18 Jun 2007

    A TV presenter has set out to beat the government and build 200 zerocarbon homes.

  • KGB adds Mortgage Express to panel

    18 Jun 2007

    KGB Packaging has added Mortgage Express to its panel of lenders.

  • KGB launches broker desk

    22 Jun 2007

    KGB Packaging has launched a mortgage desk as a part of its adviser subsidiary, Mortgageability.

  • KGB launches sub-prime helpline

    18 Jun 2007

    KGB Packaging has launched a sub-prime helpline for brokers. The service will offer information and suggestions to brokers having difficulty placing sub-prime cases. The helpline will be headed by Magnus Duke, director at KGB.

  • L&E to take on Irish market

    19 Jun 2007

    London & European has unveiled plans to open an Irish operation.

  • Lehman Brothers appointment

    18 Jun 2007

    Lehman Brothers' Mortgage Capital has appointed Mike Cook as head of product development. He joins Lehmans from Kensington Mortgages where he was head of product management. Cook will have responsibility for overseeing all aspects of product development.

  • Lenders must learn it's good to talk

    18 Jun 2007

    Service is slipping and it's not unusual for lenders to keep brokers on hold for 30 minutes on the phone - in fact, I'm thinking of billing them for our wasted time, says Sue Read

  • Lending hit new May record, says CML

    20 Jun 2007

    Gross lending reached a new May record of £30.6bn data from the Council of Mortgage Lenders reveals.

  • Lloyds TSB texts to keep consumers informed

    18 Jun 2007

    Lloyds TSB has launched a mobile text service for customers that aims to take the stress out of the home buying process.

  • Londoners most likely to move abroad

    20 Jun 2007

    Londoners are top the league when it comes to moving abroad, research from Bank of Scotland International reveals.

  • Long-term thinking may help clients

    18 Jun 2007

    Every so often, talk turns to 50-year mortgages and even the 150-year mortgages that exist in Japan where people pass on debt rather than an inheritance to their offspring. Now, Hampshire-based The Mortgage Lender says it is developing a 50-year mortgage.

  • LSN appoints development director

    18 Jun 2007

    Legal Services Network has appointed a former IFA as its development director.

  • M Harborough gets new CEO

    18 Jun 2007

    Market Harborough has appointed Mark Robinson as chief executive officer, replacing Philip Dearing who announced his departure in February to join Mutual One. Robinson comes from rival society Cumberland where he was general manager.

  • Marketwatch

    18 Jun 2007

    Guess what, swap rates continued to increase last week, with longer term swaps posting the biggest weekly increases I can remember. Two-year swaps are now at 6.25% so the markets are pricing in three base rate increases. Two-year swap rates have now gone up by 0.7% in the past three months or so.

  • May's net lending up £5.8bn, says BBA

    20 Jun 2007

    Net mortgage lending rose by an underlying £5.8bn in May, the latest figures from the British Bankers’ Association reveal.

  • MBSL adds Money Partners Touch to its lender panel

    19 Jun 2007

    Mortgage Broking Services has appointed Money Partners Touch to its lender panel.

  • Me & My Car

    18 Jun 2007

    My Mercedes 320 CLK is good looking, comfortable and full of tricks but the lack of boot space means the time has come for us to part company, says Lorenzo Satchell

  • Mervyn King voted for rate rise, minutes reveal

    20 Jun 2007

    Bank of England’s governor Mervyn King voted for a 25 basis point rise in June, the minutes from the latest Monetary Policy Committee meeting reveal.

  • Mform.co.uk launches online applications

    20 Jun 2007

    Mform.co.uk has launched direct online mortgage applications to Intelligent Finance and ING Direct.

  • Moneysupermarket.com seeks 25 more advisers

    18 Jun 2007

    Moneysupermarket.com is on the hunt for staff in a bid to double its mortgage consultancy team.

  • Mortgage 2000 set up in 1990

    18 Jun 2007

    The firm's parent company is Moneysupermarket.com Financial Group which also trades as Mortgage 2000. Nixon set up M2000 in 1990 as a financial data company. Mortgage director Sean Hornsby and operations director Jamie Stobbs run M2000.

  • Mortgages PLC slashes proc fees

    22 Jun 2007

    Mortgages PLC says "challenging times" have forced it to slash its procuration fees from July for both appointed representatives and directly authorised brokers.

  • MS Invitationals kick off in Coventry and Leeds

    18 Jun 2007

    Mortgage Strategy's Invitationals kicked off last week with ev-ents in Coventry and Leeds.

  • MS readers split on RICS' move to stall HIPs

    18 Jun 2007

    The industry is split over whether the Royal Institution of Chartered Surveyors was right to launch the judicial review that prompted the government to delay the implementation of HIPs.

  • MS takes a peek at Evaluate upgrade

    18 Jun 2007

    Evaluate Technologies last week gave Mortgage Strategy an exclusive preview of the latest version of its sub-prime sourcing system, Evaluate.

  • MT nabbed 80% of ARs in May

    18 Jun 2007

    The Mortgage Times Group is celebrating after 80% of all appointed representatives entering the market in May signed up with the networkLast month, 39 firms became ARs, of which 31 joined MT. These signings bring the number of ARs in Mortgage Times to 391.

  • MT offers brokers the chance to win prizes

    18 Jun 2007

    The Mortgage Times Group has laun-ched a monthly prize initiative called Payam's Prizes.

  • Nationwide ad sparks anger

    18 Jun 2007

    A broker has slammed Nationwide for what he considers to be inaccurate advertising outside its branches.

  • Nationwide hikes fixed and tracker rates

    22 Jun 2007

    Nationwide has increased its rates on some of its fixed rate and tracker mortgages.

  • Nine in 10 brokers say edeus call centre is best

    18 Jun 2007

    Nine out of 10 brokers surveyed by edeus found its call centre to be better than those of other lenders in the market.

  • Offsets can help clients fund their kids

    18 Jun 2007

    I've been discussing the benefits of offset in Mortgage Strategy for a number of weeks but it struck me recently how glad I am that I practice what I preach.

  • OFT puts spotlight on house building industry

    22 Jun 2007

    The Office of Fair Trading has revealed it will investigate the effectiveness of the house building process in the UK.

  • Openwork POS averaging 485 applications a day

    22 Jun 2007

    Openwork has revealed its mortgage point of sale solution is averaging 485 applications per day.

  • Optoma launches insurance product

    22 Jun 2007

    Optoma Broker Solutions has launched an accident, sickness and unemployment insurance product for mortgages and secured loans. The product is available through a web platform on the Optoma website optomaonline.co.uk.

  • Packager Power

    18 Jun 2007

    There has been a lot of staff movement in the industry over the past few months, which has led to a shortage of experienced workers in specific locations. How widespread is this issue and what can be done to address it?

  • Packagers slam SPML for favouring brokers

    18 Jun 2007

    Southern Pacific Mortgage Limited has been blasted by its packaging partners for switching its loyalty from them to brokers.

  • Paul Lewis is wrong when he says commission creates a conflict of interest

    18 Jun 2007

    I'd like to start by saying how much I enjoy reading Mortgage Strategy, particularly the letters pages. I've often thought about making a comment on something but unfortunately, as with most readers, the moment passes. But the time has come to speak my mind. I'll try to keep my comments brief but I'm afraid I'm in rant mode - in fact, my normally coiffured hair is standing on end.

  • Pink extends loans campaign

    18 Jun 2007

    Pink Home Loans has extended its secured loans commission enhancement campaign until the end of August.

  • Pity the HIP trainees left high and dry

    18 Jun 2007

    The recent news that Connells Group and LSL Property Services have withdrawn funding for their joint venture firm energy-assessors.com is bad news for those hoping for a lucrative ca-reer in Home Information Packs.

  • Platform confirms Hunt's departure

    18 Jun 2007

    Platform has confirmed the departure of its head of marketing, Paul Hunt.

  • PMPA unveils buy-to-let trackers

    18 Jun 2007

    The Professional Mortgage Packagers Alliance has unveiled three buy-to-let trackers from BM Solutions. They are available up to 85% LTV for two years from completion. Two of the deals feature early repayment charges of 6% in year one and 5% in year two. The third has ERCs of 6%.

  • PPI providers adding insult to injury, says Moneyfacts.co.uk

    19 Jun 2007

    Moneyfacts.co.uk says that despite the Office of Fair Trading investigation, Payment Protection Insurance prices are continuing to rise, adding insult to injury.

  • Pricing errors see HBOS market share slashed to 8%

    18 Jun 2007

    HBOS has admitted it got its pricing wrong earlier this year, resulting in its market share plummeting from close to 20% to 8%.

  • Proof that first-timers need brokers

    18 Jun 2007

    A recent report by AA Legal Services highlights the lack of knowledge first-time buyers have about the property buying process.

  • Property transactions up on this time last year

    21 Jun 2007

    The number of properties changing hands is up 11% in the last three months compared to the same period last year, statistics for Revenue and Customs have shown.

  • Question marks over AHIPP's strategy

    18 Jun 2007

    Now the dust is slowly settling after the debacle of the recent Home Information Pack delay, it's not only the government that may be questioning the merits of its strategy.

  • RBS led consortium will make ABM Amro bid mid-July

    22 Jun 2007

    The consortium group led by Royal Bank of Scotland looking to beat Barclay’s bid for Dutch bank ABN AMRO has revealed it will make its £71bn offer in mid-July.

  • RBSIP launches two-year fix

    20 Jun 2007

    RBS Intermediary Partners has launched a two-year fixed rate mortgage and is also repricing its range of fixed rate products. There will also be some new rates for the NatWest fixed rate buy-to-let products.The new RBS two-year fixed rate will offer an initial rate of 5.99% and is aimed at first-time buyers, house purchasers and home movers and will have a £999 arrangement fee.

  • RBSIP unveils fixed rates

    18 Jun 2007

    RBS Intermediary Partners has unveiled new rates in its First Active fixed rate range. These include a two-year fix which will only be available online at 5.99% with a £699 arrangement fee.

  • Rental demand outstrips supply

    18 Jun 2007

    Demand for rental properties outstripped supply during the three months to the end of May, according to the Association of Residential Letting Agents. The trade body also found that rents rose for the fourth quarter running.

  • Repayment mortgages losing their market share, says Paragon

    21 Jun 2007

    The past decade’s trend towards repayment mortgages over interest-only deals maybe beginning to turn, the latest research by Paragon Mortgages reveals.

  • Repossessions set to rise, say Moore Blatch

    18 Jun 2007

    Repossession litigation specialists, Moore Blatch, predict a rise in mortgage repossession claims following the recent further increase in interest rates to 5.5%.

  • RICS attacks OFT’s missed opportunity

    22 Jun 2007

    The Royal Institute of Chartered Surveyors has accused the Office of Fair Trading of missing out on several key issues over house building.

  • RICS warns of HIP loopholes

    18 Jun 2007

    The Royal Institution of Chartered Surveyors has warned that the phasing in of Home Information Packs will create loopholes that could be exploited.

  • Risk specialists aim to protect landlords from rising insolvency

    22 Jun 2007

    TL Risk Solutions has launched a product aimed at protecting commercial landlords from rising insolvency.

  • Rooftop appoints finance director

    19 Jun 2007

    Rooftop Mortgages has promoted Neil Mardon to finance director.

  • Secured loans bonus for brokers

    18 Jun 2007

    Swift Advances has launched a summer bonus for brokers, with an additional 1% being paid on unregulated secured loan cases until the end of July.

  • Secured loans from Advantage

    18 Jun 2007

    Advantage is hoping to take the market by storm with the launch of a secured loans range under new brand ADV2, to be exclusively distributed by master broker Enterprise Finance.

  • Silent partner bought out

    18 Jun 2007

    Moneysupermarket.com was launched in December 1999 by Simon Nixon and Duncan Cameron. Originally based in Chester, the price comparison website and its 400-odd staff now have a home in Ewloe, North Wales. Nixon recently bought out silent partner Cameron's 48% stake.

  • Single premium PPI "not in customer's best interest"

    18 Jun 2007

    Paymentcare.co.uk has slammed single premium payment protection insurance policies as “not in the customer’s best interest”.

  • Sir Bob could take on top housing job

    18 Jun 2007

    The UK is facing a chronic housing shortage and first-time buyers are paying the highest amount of mortgage interest for 15 years.

  • Slowly does it

    18 Jun 2007

    Deutsche Bank approached Bill Dudgeon to launch DB Mortgages in 2005, pitching a low-risk entry to the specialist lending market. From four packagers in 2006 to 370 today, DB has thrived and is set to diversify, he tells Christine Toner

  • Sound borrowers are being penalised

    18 Jun 2007

    There's an injustice in the world of secured loans - successful borrowers who tell the truth and whose loan applications go through end up paying for all those who lie, cancel at the last moment or default on payments.

  • Spicerhaart offers starting positions to New Leaf mortgage advisers

    18 Jun 2007

    Spicerhaart Financial Services has unveiled a partnership with training providers, New Leaf Group, to offer job opportunities to newly-trained advisers.

  • Start at the bottom to get to the top

    18 Jun 2007

    I closely follow the trade press and not a week goes by when there isn't an announcement that a particular lender has poached a BDM from a rival firm or that a packager has appointed a senior member of staff from somewhere else.

  • Sub-prime sector will stay strong

    18 Jun 2007

    The combination of growing borrower and investor demand for sub-prime mortgages should reassure brokers that the market will remain robust for some time, says Tony Ward

  • Swift revamps e-ID system

    21 Jun 2007

    Swift has revamped its e-ID facility following intermediary feedback.

  • TBMC announces record results

    18 Jun 2007

    The Business Mortgage Company has seen record results for the second month running, with £350m worth of applications in May. For the five-month period to May 2007, TBMC's business was up 37% compared with the same period in 2006.

  • TFC appoints financial director

    20 Jun 2007

    The TFC Group has appointed Phillip Latala as financial director with responsibility for all businesses within the group.

  • The Mortgage Mole

    18 Jun 2007

    "Digging the dirt in the mortgage world..."

  • This Week's Dilemma

    18 Jun 2007

    I am building up my career in a succcessful and expanding mortgage firm. I have been acknowledged as a conscientious and effective people manager and possess good administrative skills. However, I am not confident in driving hard bargains or negotiating and am worried this will limit my career potential. Is there any way I can improve my negotiating skills with the suppliers and stakeholders I have to deal with, or should I just give up and be content where I am?

  • Timber Frame Association creates practice guide

    22 Jun 2007

    The UK Timber Frame Association has published the first Code of Practice for Engineered Wood Products.

  • Time to regulate the buy-to-let sector

    18 Jun 2007

    Recent revelations about the inappropriate use of mainstream mortgages to purchase buy-to-let properties show it's time for the regulator to take control, says Frank Eve

  • Title Deed: Promise Finance

    18 Jun 2007

    "We deliberated long and hard before settling on the name for our organisation and we think we arrived at the right decision," says Steve Walker, managing director of Promise Finance. "The name suggests a commitment to treating customers fairly and conducting business in an ethical manner - something everyone who works here agrees with.

  • TML appoints head of mortgages

    19 Jun 2007

    The Mortgage Lender has appointed Kevin Chapman as head of mortgages at its Whiteley headquarters.

  • TML in talks for 50-year mortgage

    18 Jun 2007

    The Mortgage Lender says it is in talks with an unnamed lender about launching a 50-year mortgage.

  • TMP offers free valuations with Freedom

    21 Jun 2007

    The Mortgage Partnership is offering free valuations in association with Freedom Lending. The free valuation scheme has been launched to celebrate Freedom Lending’s rebranding next week.

  • Tomorrow launches online quotations

    20 Jun 2007

    Tomorrow has launched an online quotation system for lifetime mortgages.

  • Top broker turns to renting

    18 Jun 2007

    A top London broker has bailed out of the property market in favour of renting until the market stabilises.

  • Trevor MacDonald to take another pop at equity release

    19 Jun 2007

    Trevor MacDonald is to take another look at equity release in the autumn, he revealed on Monday's episode of Tonight.

  • Trustguard opens telesales office in Delhi

    18 Jun 2007

    Trustguard has opened a Delhi telesales office, allowing three of its Indian staff members to move back home and be closer to their families.

  • UCB reprices range

    20 Jun 2007

    UCB Home Loans is slashing rates on its self-cert and buy-to-let two-year trackers.

  • Unforeseen dangers of weak criteria

    18 Jun 2007

    I recently attended the Global ABS conference in Barcelona. This year, 4,000 people from all over the world descended on the city to discuss the European securitisation market.

  • Victoria justifies rate hike

    18 Jun 2007

    Victoria has admitted that its introducers are fuming after it hiked rates from 80 to 100 basis points across its pro-duct range last month.

  • Was RICS right to disrupt the implementation of Home Information Packs?

    18 Jun 2007

    CHRIS HARRIS is legal services director at LMS

  • We should not rely on the postal service

    18 Jun 2007

    For the first time in over 10 years, postal workers may go on strike. Unhappy about a proposed 2.5% wage increase, they have already voted in support of strike action while negotiations continue. This is a potential nightmare for businesses and they must protect themselves from the problems such action would generate.

  • Whitehall must change tack on HIPs

    18 Jun 2007

    I recently had the pleasure of being involved in two sporting pursuits, horse racing and sailing. I entertained some industry guests at Epsom on Ladies Day, but missed Frankie Dettori finally winning his elusive Derby.

  • Woolwich launches B2L fix and track mortgage

    22 Jun 2007

    Woolwich has launched a buy-to-let range to get around the short term hike in swap rates.

  • Would you trust the advice of brokers who are receiving commission?

    18 Jun 2007

    Last week, Radio guru Paul Lewis warned that there is a conflict of interest when financial advisers receive commission from lenders that also charge fees. Lewis says that although not all brokers will be swayed by commission some will and this is in conflict with their status as advisers.So this week Mortgage Strategy asks: Would you trust the advice of brokers who are receiving commission?

  • Yousefi breaks for Freedom on August 13

    21 Jun 2007

    Freedom Lending has confirmed that Mehrdad Yousefi will be taking up his post as director of distribution and sales on August 13.

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