Mortgage Strategy
19 March 2007

  • BDM for Money Partners Touch

    19 Mar 2007

    Money Partners Touch has promoted James Hope to the role of business development manager for London and the Home Counties.Covering the capital plus Hertfordshire, Essex, Kent, Surrey and Buckinghamshire, He will be responsible for building relationships with brokers and IFAs and report to sales director Martin Gilsenan.

  • Cotswold signs up to legal deal

    19 Mar 2007

    Goldsmith Williams has been appointed to provide legal services for network Cotswold Mortgage Services. More than 90 appointed representatives will benefit from the scheme, which provides the facility to monitor cases online in real time via GWLive, Goldsmith Williams' recently launched online offering.

  • Easier2Move joins M2000 panel

    19 Mar 2007

    Easier2Move has joined Mortgage 2000's conveyancing panel. The link-up will see Easier2Move's services offered to the thousands of brokers who use M2000's services.

  • Multi-lender cascade system

    19 Mar 2007

    Lendersonline, the first multi-lender cascade system to integrate Equifax credit search, has been released by the Loan and Mortgage Processing Centre.The system has a panel of 14 lenders. Of these, half will be able to accept direct business by allowing Lendersonline to submit cases direct to lenders.

  • Pearson quits BM Solutions

    19 Mar 2007

    Chris Pearson, sales and marketing director at BM Solutions, has resigned from his position at HBOS. HBOS could not comment on Pearson's reasons for leaving or where he may be going. A spokeswoman for BM Solutions says: "Chris has been with HBOS for over nine years so obviously we wish him all the best in any future endeavours."

  • PNP opts for MortgageStream

    19 Mar 2007

    Premier Network Partnership has opted to use MortgageStream's case management system.MortgageStream is an offline system and therefore instantly links in both directions with advisers' choice of offline mortgage sourcing system, offering Trigold, Mortgage Brian, Mortgage 2000 and Home Buyer Systems as options.

  • 395,000 homebuyers will not need a mortgage

    23 Mar 2007

    Just 13% of the three million people planning to buy a property between February and July claim they won't need a mortgage, research from mform.co.uk reveals.

  • 85% Of FTBs plump for fixed deals

    19 Mar 2007

    A whopping 85% of first-time buyers plumped for fixed rate mortgages in January, the Council of Mortgage Lenders has revealed. This is the highest number yet seen in a single month.

  • A chilling case of changing identity

    19 Mar 2007

    My school run has a two-phase soundtrack - Harry Potter and the Order of the Phoenix on the way to school and BBC Radio 4's Today programme on the way back. Depending on the traffic I only get about 10 minutes of Today before I park the car and jump on the tube to get to the office.

  • A dismal 19% of consumers aware of sub-prime market

    19 Mar 2007

    Despite predictions that the sub-prime sector is set to grow significantly over the next few years, only 19% of consumers have heard of the sub-prime market, research from Beacon Homeloans reveals.

  • A&L says more mutuals will launch lender arms

    19 Mar 2007

    Alliance & Leicester predicts that more societies will jump on the specialist bandwagon and launch lending arms by the end of the year.

  • Abbey launches 10-year fixed and lower rate tracker

    23 Mar 2007

    Abbey has launched a new 10-year fixed rate and 4.99% tracker.

  • Abbey launches 'Green Loans'

    21 Mar 2007

    Abbey has decided to launch green loans in a bid to encourage homeowners to jump on the eco-friendly band wagon.

  • Accidents can change clients' lives

    19 Mar 2007

    According to the University of Southampton's clinical neurosciences division, traumatic brain injury is a leading cause of death and long-term disability worldwide. In the UK alone, around one million people every year go to hospital with head injuries.

  • Accord still awaits B2L OK

    19 Mar 2007

    Accord Mortgages has reveal-ed that it is holding off from entering the buy-to-let market until the Office of Fair Trading comes to a decision on the Consumer Credit Act's effect on the sector.

  • Advisors sign up to CeRER

    21 Mar 2007

    The IFS School of Finance says large numbers of mortgage advisers have already signed up to their new Certificate in Regulated Equity Release in advance of regulation which comes into force next month. From April 6 2007, the sale and marketing of equity release products, including lifetime mortgages and home reversion plans will be regulated by the Financial Services Authority.

  • AMI announces board election timetable

    19 Mar 2007

    The Association of Mortgage Intermediaries has released details of its board elections that will take place this spring.

  • Are lenders with branch networks less attractive in the eyes of intermediaries?

    19 Mar 2007

    Brokers must feel they are being treated fairly by lenders but there is room in the market for both distribution routes, say our experts

  • AToM appoints RDMs for the North

    21 Mar 2007

    All Types of Mortgages has appointed David Cadwallender as regional development manager for Yorkshire.

  • Attacks on C&G broker sales managers are out of order

    19 Mar 2007

    Enough is more than enough. The recent attacks in the industry press on C&G intermediary sales managers are bang out of order. The company has over 100 intermediary sales managers whose job it is to encourage brokers to use C&G.

  • AXA makes key appointments

    19 Mar 2007

    AXA has made three senior appointments to its protection business following structural changes unveiled last November.Graham Harvey, managing director of AXA's protection business, has made Jamie McIver director of sales, Iain Mallon head of marketing and Tim Hopkinson head of development.

  • B2L deal needs no rental proof

    19 Mar 2007

    Bananas Inc has released a two-year fixed-rate buy-to-let mortgage that has no requirement for proof of rental income.

  • B2L investors take the long view

    19 Mar 2007

    One in four buy- to-let investors plan to keep their properties for more than 15 years, according to Mortgage Trust. And three-quarters of landlords expect to hold onto their properties for more than five years.

  • Back from reality

    19 Mar 2007

    Ruth Badger starred as a no-nonsense contestant on BBC TV's The Apprentice but now she's come home to the mortgage industry as the public face of The Help Group campaign to reduce lead costs, she tells Nicolette Botbol

  • Batchelor pledges continuity

    19 Mar 2007

    Guy Batchelor says it will be business as usual when he starts in his new role today as executive director of sales and marketing for the UK at Lehman Brothers' European Mortgage Capital Division.

  • BBA welcomes tax cuts

    23 Mar 2007

    British Bankers Association welcomes cuts to personal and business taxes.

  • BDM of the week

    19 Mar 2007

    Maria Betti is a good listener, a sound communicator and a pleasure to work with - that's why she is a worthy BDM of the week, says Just Mortgage Packaging's Anthony O'Callaghan

  • Be fair to home buyers, Gordon

    19 Mar 2007

    The industry is to witness two important firsts by the end of this month - March 21 and March 31.

  • Book celebrates ordinary UK homes

    19 Mar 2007

    With government tax inspectors rumoured to be eyeing up the quality of people's homes for new Council Tax bands, a book just out could offer inspiration to those looking to devalue their homes in the eyes of prying inspectors.

  • Borrowers opt for fixed rates

    23 Mar 2007

    Uncertainty over the future of interest rates is prompting borrowers to opt for fixed rates, says Spicerhaart.

  • Brash ads can dilute a good brand

    19 Mar 2007

    As I move to pastures new I mull over my unhappiness about edeus' muscular advertising, which is nothing short of unprofessional in the way it knocks the opposition, says Sue Read

  • Brokers call for Stamp Duty threshold to be upped

    19 Mar 2007

    Research from GE Money Home Lending has found that half of UK brokers think the Stamp Duty threshold should rise immediately and be fixed at the average national house price.

  • Brokers hit out at First Active

    19 Mar 2007

    Brokers have hit out at First Active for misleading advisers over the portability of its products.

  • Brokers must help clients take cover

    19 Mar 2007

    We have been fortunate to have seen a number of years with low unemployment and economic stability, but the recent base rate increases have caused concern that clients could be left un- protected in the event of sickness, accident or unemployment.

  • Brokers say no to government-funded eco-deals

    19 Mar 2007

    Just over half of Mortgage Strategy Online readers say the government should not partially fund green mortgages. Meanwhile, 44% of intermediaries think that government-funded green mortgages are a good idea.

  • Brown plans funding to boost home insulation

    19 Mar 2007

    Chancellor Gordon Brown has pledged to help fund the insulation of two million UK homes by 2008 in an attempt to slash the country's carbon emissions.

  • Brown's Budget is a "lost opportunity", says A&L

    21 Mar 2007

    Alliance & Leicester says Gordon Brown’s Budget is a missed opportunity to help first-time buyers.

  • Brown's zero carbon Stamp Duty exemption is an "empty pledge"

    21 Mar 2007

    SmartNewHomes calls Brown’s pledge to exempt zero carbon homes under £500,000 from Stamp Duty an “empty pledge”.

  • BSA applauds governments green promise

    21 Mar 2007

    The Building Societies Association has welcomed Gordon Browns plans to encourage greener homes in his latest budget statement.

  • BSA delighted at MP backing

    23 Mar 2007

    The Building Societies Association says it is delighted that MPS have backed a new parliamentary bill which affects building society funding limits and the rights of investors.

  • BUDGET 2007: Brown pledges to fund insulation of pensioners' homes

    21 Mar 2007

    Brown has pledged to give pensioners grants of £300 to £4,000 for insulating their homes.

  • BUDGET 2007: Brown pledges to hit affordable housing targets

    21 Mar 2007

    Gordon Brown has pledged to meet the targets he has set for affordable housing by creating 200 million new owner-occupied properties by 2010.The Department of Communities and Local Government will today announce the second stage of its shared equity competition.

  • BUDGET 2007: Brown pledges to keep interest and mortgage rates low

    21 Mar 2007

    The chancellor has pledged to keep interest and mortgage rates low for 2007.

  • BUDGET 2007: Brown promises Stamp Duty break on zero-carbon homes up to 500K

    21 Mar 2007

    The chancellor has set out plans to allow Stamp Duty exemptions to all zero carbon-emitting homes worth up to 500,000.Gordon Brown has also revealed that the government are in talks with other European nations to begin measures that would see the VAT on all green home improvement products to be eventually reduced from 17.5% to 5%.

  • BUDGET 2007: Brown says 94% of the country will be exempt from IHT

    21 Mar 2007

    In today's budget the chancellor says that Inheritance Tax will increase to 350,000 in 2010 up from the current level of 285,000.He says this will mean that 94% of the state will not pay IHT.

  • BUDGET 2007: Brown ups higher level Income Tax by 5,000

    21 Mar 2007

    Gordon Brown has increased the higher-level Income Tax threshold from 38,000 to 43,000 from April 2009.

  • BUDGET 2007: Capital Gains Tax to double for married couples

    21 Mar 2007

    The chancellor says Capital Gains Tax allowance will double for married couples.

  • BUDGET 2007: Chancellor cuts Corporation Tax

    21 Mar 2007

    Chancellor Gordon Brown has unveiled plans to cut Corporation Tax from 30p to 28p.

  • BUDGET 2007: Chancellor cuts relief on empty commercial properties

    21 Mar 2007

    The Chancellor is to restrict relief on commercial property lying empty for industrial properties to six months and to three months for retail premises and offices and special exemptions for charities.The measure is in line with recommendations in the Lyon's report published today, in order to relieve surplus demand for property in some areas.

  • BUDGET 2007: Employers to get 2K for skills training

    21 Mar 2007

    Gordon Brown has revealed that the government will offer employers 2,000 to train young people in basic skills.The chancellor has set out plans to help young people learn the skills they need in industry by granting businesses this break for each employee. The government hopes this will help lower the rate of workers in industry with inadequate education.

  • BUDGET 2007: Fuel duty up 2p

    21 Mar 2007

    In today's Budget the chancellor has announced that fuel duty is up 2p, inline with inflation.

  • BUDGET 2007: Income Tax down 2p in 2008

    21 Mar 2007

    Gordon Brown has ended his 11th budget by revealing Income Tax will fall 2p in the pound, from 22p to 20p next April.This surprise announcement from the chancellor will make the basic Income Tax rate the lowest it will be for over 75 years.

  • BUDGET 2007: UK economy growing fastest out of G7 economies

    21 Mar 2007

    In his opening statement for his 11th Budget, the chancellor Gordon Brown says the UK economy is growing faster than any other G7 economy.Joking, Brown thanked his "comrades in the civil service that have helped him in the past.He says that since 1997 inflation has averaged 1.5%, the best inflation performance he says in a century.

  • Building society lending for February hits 4bn

    20 Mar 2007

    Building society gross advances reach 4.2bn in February 2007, compared to 3.183bn in February 2006.

  • C&G embraces sub-prime

    19 Mar 2007

    Cheltenham and Gloucester has ploughed full steam ahead into the sub-prime mortgage market despite brokers' concerns about a decline in its service.

  • C&G staff are being let down by their management

    19 Mar 2007

    Oh what a circus, oh what a show.

  • C&G staff blame bosses

    19 Mar 2007

    Cheltenham & Gloucester intermediary sales managers have begged brokers not to blame them for recent poor service standards, instead placing the blame at the door-step of their employers.

  • C&G teams up with Countrywide

    19 Mar 2007

    Cheltenham & Glouchester for Intermediaries has joined the lending panel of Countrywide.

  • Call centres' passage back from India

    19 Mar 2007

    What have Powergen, Norwich Union and Lloyds TSB got in common? The answer is that they have all fallen out of love with Indian call centres.

  • Catholic launches fixed product

    23 Mar 2007

    The Catholic has released a one-year fixed product for new purchases and remortgages.

  • Chancellor will be best remembered for first act

    21 Mar 2007

    Chancellor Gordon Brown will be best remembered for granting the independence of the Bank of England, a poll by accountants Baker and Tilly reveals.

  • Charities stand to lose up to 75 million from Budget reform

    23 Mar 2007

    Charities face losing over 75 million per year from April 2008, as a result of the reduction in the basic rate of income tax from 22% to 20%, announced in the Budget.

  • CHL ups lending limits on its self-cert range

    19 Mar 2007

    CHL Mortgages has increased the lending limits on its range of self-cert products.

  • Choice is a good thing, including in sub-prime

    19 Mar 2007

    I read numerous editorials and articles every week from leading figures in the industry, and never fail to be interested in the different points of view ex-pressed in these.

  • Click sees automated future

    19 Mar 2007

    CLICK predicts the secured loans industry will become fully automated within the next three years.

  • Clients want to be kept in the loop

    19 Mar 2007

    Mortgage customers would like to be kept better informed about how their applications are progressing, research from mform.co.uk reveals. Results of a survey into lender service levels show borrowers feel this is the weakest part of the mortgage process. It received a 67.6% satisfaction score, the lowest of 16 services rated in the survey.

  • CML reports 25bn in mortgage lending

    20 Mar 2007

    Gross mortgage lending had its highest February ever at 24.6bn, figures from the Council of Mortgage Lenders reveal.

  • Commercial mortgages have been good for all

    19 Mar 2007

    Over the past couple of years, one of the best performing asset classes in terms of overall returns has been commercial property. But what part has the commercial mortgage market played in this success?

  • Commercial seminars in NI

    19 Mar 2007

    InterBay is running seminars in Northern Ireland to educate brokers on the subject of commercial mortgages.

  • Complete appointment

    19 Mar 2007

    Complete Mortgage and Loan Services has appointed Mark Game as business development manager for central London.Game joins Complete from three years at Optoma where he was BDM and prior to that he worked in estate agency for seven years.Tristan Pile, head of sales and marketing at Complete, says:"Appointing top quality staff is key to our growth plans."

  • Complete names dates for events

    19 Mar 2007

    Complete Mortgages has released dates for the first of its 2007 broker and lender round tables. Its first buy-to-let event will be held at Southampton FC's St Mary's Stadium on March 20, followed by a specialist mortgage event at Arsenal's Emirates Stadium on March 27.

  • Co-op to add eco-features to mortgage portfolio

    21 Mar 2007

    The Co-operative Bank say it is working on new eco-features that will be built into its mortgage portfolio.

  • Countrywide sells off loss-making firms

    19 Mar 2007

    Countrywide has revealed it is to sell off its remortgage conveyancing operation and its Spanish estate agency, H2O Homes.

  • Coventry unveils Godiva offering

    21 Mar 2007

    Godiva Mortgages, the new specialist lending subsidiary of Coventry is to launch tomorrow.

  • CurriculumVitae: Lee Tillcock

    19 Mar 2007

    "I used to love playing golf and cricket but now I am the father of an eight month old boy. Say no more."

  • Data security is an issue for us all

    19 Mar 2007

    The case of Nationwide and the stolen laptop stuffed full of client details for which it was recently fined by the Financial Services Authority probably raised a few smiles. There was some satisfaction in seeing a mighty company such as Nationwide brought low.

  • DB holds less 5% of its own shares

    23 Mar 2007

    Deutsche Bank has disclosed that it holds less than 5% of its own shares.From March 21, DB shares declined to 4.63% of its issued share capital.Under German regulations, an investor is required to disclose his shareholding in a company if it breaches certain levels, such as 3%, 5%, 10% and 20%.

  • Dear Delia

    19 Mar 2007

    Dear Delia, one of my clients is attempting to remortgage one of the buy-to-let properties in his portfolio. The property is 150,000 and his portfolio is 1m. He bought this property speculatively about three years ago and the rent only just covers the mortgage. At today's interest rates, he is going to face a serious problem. Do you have any suggestions? Delia says: Your client has a number of options available to him as Brian Murphy of Mortgage Advice Bureau and John Heron of Paragon ...

  • Disappointing Budget for FTBs, says FirstRungNow

    21 Mar 2007

    FirstRungNow has described today's Budget as disappointing for first-time buyers.

  • Don't dumb down mortgage exams

    19 Mar 2007

    The most amazing thing to see in a Financial Services Authority consultation paper is an endorsement of the status quo. But that is more or less the situation with the consultation on the FSA's Training and Competence Sourcebook.

  • eConveyancer takes HIPs on the road

    23 Mar 2007

    eConveyancer is running a series of roadshows to help brokers exploit the commercial opportunities arising from Home Information Packs on June 1.

  • Eight to one majority in favour of MPC rate hold

    21 Mar 2007

    Eight members of the Bank of England's Monetary Policy Committee, including Kate Barker voted in favour of maintaining the base rate at 5.25%.MPC member David Blanchflower voted against the others, wanting the base rate to be reduced by 25 basis points.

  • Electronic integration

    19 Mar 2007

    Finance & Mortgage Solutions says its operations are now fully integrated with Trigold'sE-Trading Centre.Following this development, advisers will be able to send applications electronically to over 50 lenders.

  • Employed self-cert clients should not be excluded

    19 Mar 2007

    Reading Kevin Paterson's article entitled 'Lenders' employed self-cert offers will come back to haunt borrowers' (Mortgage Strategy March 5), I was disappointed to see the sort of ill- conceived criticism of our industry that is normally the preserve of the more sensationalist elements of the consumer press.

  • Equity release sector to get TV grilling tonight

    19 Mar 2007

    Tonight with Trevor McDonald is this evening taking a look at the equity release market in the run-up to Financial Services Authority regulation of the sector in April.

  • Estate agents slam Budget for lack of Stamp Duty reform

    21 Mar 2007

    Gordon Browns Budget has been slammed by haart estate agents for its lack of Stamp Duty reform.

  • Expo attendance figures show industry is less of a man's world, says Clarion

    19 Mar 2007

    Clarion Events has revealed that there was a 50% upsurge in women attending last year's Mortgage Business Expo in London.

  • Fees clampdown could backfire

    19 Mar 2007

    Moneynet.co.uk has warned the Financial Services Authority's clampdown on exit fees could lead to lenders massively hiking their arrangement fees.

  • Firstplus appoints new MD

    22 Mar 2007

    Neil Radley has been appointed managing director of UK secured lending at Baclaycard, which encompasses Firstplus, and its sister company Broker Ridge.

  • Flagging up US-style mortgage problems

    19 Mar 2007

    The US is often a good indicator of what's in store for the UK so the meltdown in the sub-prime mortgage market over there is something lenders here must steer well clear of.

  • Friends of Earth calls for council tax rebates for green homeowners

    20 Mar 2007

    Friends of the Earth has made a plea to the chancellor to pour out over 2bn to encourage homeowners to get green.

  • Friends Provident shares drop as full-year profits are down 3%

    20 Mar 2007

    Friends Provident is already warning that a challenging market for mortgage protection insurance could endanger its targets for new business growth of up to 200m by 2008.

  • FSA plans principles-based approach to general insurance regulation

    21 Mar 2007

    The Financial Services Authority moves towards a principles-based approach to general insurance regulation, it has revealed in an interim report today.

  • FSA plays down MPPI fears

    19 Mar 2007

    The Financial Services Authority has reassured brokers that their mortgage payment protection insurance fears are unwarranted as long as their product advice is in line with its rules.

  • FSA sets outs FSCS reforms

    20 Mar 2007

    The Financial Services Authority has set out proposals to reform the funding of the Financial Services Compensation Scheme.

  • FSA should clamp down on small companies' bad ads

    19 Mar 2007

    I am writing in response to Simon Robin's recent letter (Mortgage Strategy March 12 ).

  • FSA warns insurance brokers on client money

    19 Mar 2007

    The Financial Services Authority last week warned general insurance intermediaries that they have no excuse for failing to protect client money in their possession.

  • Game on

    19 Mar 2007

    The Treating Customers Fairly implementation deadline is nearly upon us and brokers have an important role to play, says Christine Toner

  • GE Life says new identity will help it succeed in equity release sector

    19 Mar 2007

    GE Life is set to reveal its new name on Wednesday April 11 following its sale to Swiss Re last October.

  • GEMHL disappointed at no change to Stamp Duty threshold

    21 Mar 2007

    GE Money Home Lending says it is disappointed that the Stamp Duty threshold remains unchanged following todays Budget.

  • George Wimpey launches Property Investor Club

    23 Mar 2007

    George Wimpey has launched a Property Investor Club in response to growing demand for investment properties.

  • GHL to promote secured loans

    19 Mar 2007

    GHL Group will be hosting several round tables and workshops this year in an attempt to educate brokers about secured loans.

  • Global warming may cool overseas market

    19 Mar 2007

    Upon my return from a recent skiing holiday in Andorra - yes, there was some snow and no, I didn't break any bones - I got thinking about overseas investments.

  • Gordon Brown might try to please his crowd

    19 Mar 2007

    When Gordon Brown stands up this week it will be his 11th and most likely final Budget. Unless there is a big political upset, Brown will be walking through the door of 10 Downing Street as Prime Minister in a matter of months.

  • Growing business

    19 Mar 2007

    There has been an explosion of interest in the commercial mortgage market among brokers so it's time to grab a piece of the action, says Andy Young

  • Halifax: Get your NIE before buying property in Spain

    22 Mar 2007

    any Britons dream of owning a property in the sun and, for many, Spain offers it all.

  • HBOS to launch green mortgages

    21 Mar 2007

    HBOS has unveiled plans to launch a green mortgage next year.

  • Heritable appoints BDM for East Anglia

    23 Mar 2007

    Heritable has appointed Robert Salter as business development manager for East Anglia.

  • High LTV deals give FTBs a leg up

    19 Mar 2007

    It's never been harder for first-time buyers to get on the property ladder and lenders have come up with ideas to help, including high LTV mortgages, says Sean Murphy

  • HIP conferences set for April

    19 Mar 2007

    The Association of Home Information Pack Providers is to host two conferences in April to help estate agents and other industry figures prepare for the introduction of HIPs on June 1. The conferences will be held at the City of Manchester Stadium on April 16 and the Emirates Stadium in London on April 18.

  • HIPs have cost 11m so far

    19 Mar 2007

    Last week, the government revealed that preparation for the launch of Home Information Packs has already cost over 11m in administration, legal and consultation fees.

  • House prices continue to surge

    19 Mar 2007

    The mix-adjusted average house price in January 2007 stood at £205,286, up from £201,090 in December 2006, government figures reveal.The Department of Communities and Local Government's house price index for January also shows that annual house price inflation was 10.9%.

  • House prices grew by 0.8% in March, says Hometrack

    23 Mar 2007

    The latest national housing survey from Hometrack shows that average prices grew by 0.8% in March up from 0.7% the previous month.

  • Housing demand outweighs supply

    19 Mar 2007

    Analysis from Hamptons International has found there are now an average of eight buyers to every home seller. Hamptons says this imbalance shows no sign of changing as the spring market moves closer and many sellers hold back from putting their properties on the market until suitable alternative homes become available. The London property market has seen a 38% increase in registered buyer numbers so far this year compared with 2006, while the stock of properties available to Hamptons' ...

  • How brokers can cover their backs

    19 Mar 2007

    The inability of some borrowers to understand a single thing about their loans used to be a taboo subject. Cynical people might suggest that it was only taboo because borrower weakness was something brokers were happy to exploit and therefore wanted to keep quiet. Or that lenders were keen to avoid the authorities' beady eyes and avoid mis-selling scandals while continuing to shift unsuitable products.

  • IFA firm picks Convex for conveyancing service

    19 Mar 2007

    Convex Conveyancing, is to roll out its conveyancing service to independent financial advisers, The Clarkson Hill Group.

  • IFS equity release questions lack consistency and clarity

    19 Mar 2007

    With reference to question number one on page 69 of the February 26 issue I am of the opinion that the question and subsequent answer are either incorrect or unclear.

  • Industry applauds Chilton move

    20 Mar 2007

    The mortgage industry has welcomed Network Datas decision to appoint Mark Chilton as chief executive of its new lender, Homeowners Mortgages.

  • Inflation hits 2.8%

    21 Mar 2007

    The Bank of Englands Monetary Policy Committee has increased inflation by 0.1% from 2.7% to 2.8%.

  • Information is the fuel of your business

    19 Mar 2007

    One thing I've learned working in the mortgage industry is that it's all about data.

  • Is it fair for the government to tax you on the appearance of your home?

    19 Mar 2007

    Last week, the Conservatives exposed an 80-page government manual designed to instruct inspectors on how to grade properties for Council Tax. The Tories have warned that features such as patios and other aesthetic improvements might lead to the government placing residents in a higher band.So this week Mortgage Strategy asks: Is it fair for the government to tax you on the appearance of your home?

  • ITV programme slams equity release as next big mis-selling scandal

    20 Mar 2007

    Financial guru Martin Lewis slammed equity release as the next big mis-selling scandal after endowment policies and payment protection insurance, on ITV's Tonight with Trevor McDonald last night.

  • KRS says ITV programme mis-represented equity release

    20 Mar 2007

    Key Retirement Solutions says that yesterday’s progamme Tonight with Trevor McDonald was a mis-represention of the equity release market.

  • L&G covers three more illnesses

    19 Mar 2007

    Legal & General is launching a critical illness product covering three additional illnesses. The new policy incorporates mandatory changes to the definitions of critical illnesses as set out by the Association of British Insurers.It also includes wider definitions for some illnesses. The intention of this development is to improve clarity for consumers.The three additional illnesses that are now covered are encephalitis, systematic lupus and primary pulmonary hypertension.

  • Landlord culture attracts younger generation

    19 Mar 2007

    Nearly 26% of new investors who own just one buy-to-let property are aged between 26 and 35, latest research from Mortgage Trust reveals. This age group also makes up 16% of all buy-to-let investors with up to three properties, compared to 14% six months ago. John Heron, managing director, says: Traditionally buy-to-let has been perceived as something for the more mature investor.

  • Lehman brands to use Hometrack AVMs

    19 Mar 2007

    Lehman Brothers four mortgage brands, Southern Pacific Mortgage Limited, Southern Pacific Mortgage Loans Preferred and London Mortgage Company are set to use Automated Valuation Models provided by Hometrack.

  • Lender to launch this year

    19 Mar 2007

    Network Data Holdings has revealed that it plans to launch its wholly owned lending subsidiary Homeowners Mortgages in the latter half of 2007.

  • Lenders are changing the IVA agenda

    19 Mar 2007

    Is the net closing in on the individual voluntary arrangement firms? Well, no, but there are signs that moves are afoot to rein in the excesses of this relatively new sector.

  • Lenders should proceed with caution

    19 Mar 2007

    Although business is booming, lenders should not ignore the dangers of overstretching borrowers because conditions can change rapidly as we have seen in the US, says Frank Eve

  • Linden Homes points to growth

    19 Mar 2007

    The new homes market is exceptionally strong heading into spring, says Linden Homes.In January and February this year, the house builder's sales were 55% higher than in the same period last year. Almost 2,000 potential customers visited its developments, leading to 222 sales compared with 143 sales in the first two months of 2006.

  • Lloyds TSB becomes first sponsor of the 2012 London Olympics

    19 Mar 2007

    Lloyds TSB has become the first sponsor of the 2012 Olympics which will be held in London.

  • London packager forum will forge industry links

    19 Mar 2007

    Mortgage Brain and the Mortgage Trading Exchange are to hold a packager forum in London on March 23 in association with Mortgage Strategy.

  • London rentals strong in 2006

    19 Mar 2007

    Chesterton Lettings has reported continuing growth in London rental values throughout 2006. It estimates that in the last three months of the year overall rents increased by 3.6%, house rents went up by 3.8% and flat rents rose by 3.1%.

  • Lyons Report calls for new Council Tax bands for high value properties

    21 Mar 2007

    Sir Michael Lyons has called for new Council Tax bands to reduce bills for those in the lowest value properties by increasing those of higher value homes, in his report into local government published today.

  • Maltby quits Kensington

    23 Mar 2007

    John Maltby has quit Kensington Group and Alison Hutchinson will replace him as chief executive officer.

  • Mark Chilton appointed CEO of Homeowners Mortgages

    19 Mar 2007

    Mark Chilton has been appointed as the new chief executive officer of Network Data Holdings lender Homeowners Mortgages.

  • Marketwatch

    19 Mar 2007

    It was great to see swaps continue to edge down last week and we've seen a couple of lenders reducing their fixed rates too. Let's hope more follow.

  • Me & My Car

    19 Mar 2007

    My V6-engined Jeep Grand Cherokee is a truly robust vehicle and gives a surprisingly smooth ride but I still haven't taken it off-road yet, says Richard Hearn

  • Money Partners Touch appoints new BDM for South

    21 Mar 2007

    Money Partners Touch, the direct-to-broker channel of Money Partners, has appointed Chris Pearson as business development manager for the South.

  • Mortgage application fees double in three years

    19 Mar 2007

    Mortgage application fees have nearly doubled since 2004, research from find.co.uk reveals.

  • Mortgages Direct becomes Spicerhaart Financial Services

    19 Mar 2007

    Spicerhaart has rebranded its financial subsidiary Mortgages Direct to Spicerhaart Financial Services.

  • Mortgages PLC cashback offer

    19 Mar 2007

    Mortgages PLC has launched an exclusive cash- back deal for packagers. £300 cashback is offered on all heavy and unlimited mortgage applications submitted via packagers.

  • Mosaic lifts lid on packager plight

    19 Mar 2007

    Mosaic Mortgage Club says its search for a packager for its sub-prime business has revealed that many firms are suffering huge losses and a depletion in capital reserves.

  • Moss quits MEX for MPLC

    23 Mar 2007

    Andrew Moss has quit Mortgage Express for Mortgages PLC to help the Merrill Lynch lender relaunch into the buy-to-let market later this year.

  • MPLC complete 575m securitisation

    21 Mar 2007

    Mortgages PLC has completed its latest securitisation deal for a total of 575m.

  • MS columnist made an offer she couldn't refuse

    19 Mar 2007

    Sue Read has quit Marshall James & Co after 11 years and joined Jobson James Mortgage Services as head of mortgages.

  • My local C&G branch has helpful and competent staff

    19 Mar 2007

    From Dave Rogers

  • Nationwide incentives

    19 Mar 2007

    Nationwide has unveiled a book of offers containing 10 money-saving deals including reward payments and shopping vouchers.The deals, available until May 5, include a £100 payment for existing Nationwide customers of six months or more who switch their current accounts to the bank, £100 off its home buyer legal service and £25 cashback to existing customers taking out home insurance with the firm.

  • New lenders are good for consumers

    19 Mar 2007

    The specialist market has seen a large number of lender entrants in the past couple of years. These have been either completely new lenders or brands created by established lenders as specialist offerings.

  • New scheme allows BTL properties to be sold with tenants in place

    23 Mar 2007

    A new national scheme launched at the London Stock Exchange yesterday will allow buy-to-let properties to be bought and sold with the tenants in place.

  • North-East tipped as next hotspot

    19 Mar 2007

    The North-East has been tipped as a potential property hotspot by SG Hambros. A study by the wealth management group says that while the North-East presently has the lowest house prices in the UK, this is unlikely to be the case for long. It predicts that by 2015 property prices in the area will be climbing faster than the national average rise.

  • One in four listed buildings lack cover

    19 Mar 2007

    Some 25% of home owners with listed properties have inadequate buildings protection despite their age and specialist nature making them particularly vulnerable, warns insurance firm NFU Mutual.

  • Openwork adviser base grows

    19 Mar 2007

    Openwork last week revealed it has grown its network base to 2,500 advisers.

  • Paaleads.com in link with TMA

    19 Mar 2007

    Paaleads.com has agreed a deal to provide mortgage leads to The Mortgage Alliance.The firm has been approved by the mortgage club to supply leads, with TMA subsidising the cost of leads received by its members and offering a half-price leads promotion throughout March and April.

  • Packager Power

    19 Mar 2007

    "Lenders also seem to have lost their way, focussing on gimmicks rather than adding value to brokers's businesses."

  • Pass your equity release clients on to specialists if you want to rest easy

    19 Mar 2007

    WWe describe our company as being made up of brokers who specialise in equity release indeed it is extremely unusual for us to become involved in anything else. We operate an introducer scheme for advisers who do not wish to get involved in this area.

  • PISCES updates HIP standards

    23 Mar 2007

    PISCES, the e-commerce standards organisation, has updated its Home Information Pack standards.

  • PMPA offers DB fixed deal

    23 Mar 2007

    The Professional Mortgage Packagers Alliance has teamed up with DB Mortgages to offer exclusive deals on its sub-prime range.

  • PMS launches new proposition

    19 Mar 2007

    Premier Mortgage Service unveiled today its new proposition for the mortgage market.

  • PMS launches online platform

    19 Mar 2007

    John Malone, managing director of Premier Mortgage Service, says his mortgage club today goes head-to-head with every mortgage network, packager and club in the UK with the launch of its online platform.

  • PMS to bring regulation roadshow to Belfast

    23 Mar 2007

    Premier Mortgage Service has revealed it will be hosting another Northern Ireland roadshow to help promote regulation in the province.

  • PNP chooses Salans as preferred conveyancer

    21 Mar 2007

    The mortgage and insurance network, Premier Network Partnership, has chosen a Salans as its preferred conveyancer.

  • PNP plumps for MortgageStream

    19 Mar 2007

    Premier Network Partnership has opted to use MortgageStream's case management system.

  • Praxis adds igroup to panel

    20 Mar 2007

    Praxis has added igroup to its lending panel, the third new lender it has added, alongside Advantage and Freedom, in 2007. This move takes Praxis lending panel to 23.

  • Praxis aims to go green

    23 Mar 2007

    Praxis is calling on the mortgage industry to go green after announcing it is to aim for a prestigious environment award by the end of the year.

  • Preferred release one-year fixed

    21 Mar 2007

    Preferred has released a one-year fixed rate mortgage product.

  • Pritchard denies he was forced out of Freehold role

    19 Mar 2007

    Terry Pritchard last week quit his position at packager group Freehold but denied that this was as a result of pressure from lenders.

  • Pundits agree house prices will keep rising

    21 Mar 2007

    At the Wriglesworth Consultancys great housing debate, pundits agreed that it would take a major economic decline for house prices to fall in the foreseeable future.

  • Purely and ITV unveil virtual mortgages plan

    19 Mar 2007

    Purely Mortgages last week signed a deal with ITV to launch an online mortgage service that it predicts will lead to nationwide, virtual online mortgage deals.

  • RBS slashes BTL rate

    22 Mar 2007

    Royal Bank of Scotland Intermediary Partners will be cutting the rate on its NatWest buy-to-let two-year fixed rate mortgage to 5.35% from 5.74%. The bank has also raised the LTV on interest only buy-to-let mortgages to 85% from 75%.

  • RBS strengthens US team

    23 Mar 2007

    The Royal Bank of Scotland Group has made new appointments to its US-based team and announced the creation of a unified management team to take advantage of growth opportunitiesacross and between its businesses in the US.

  • Remortgages levels grow by a third, says LMS

    19 Mar 2007

    Borrowers increased their mortgage debt by an average of 31% through remortgaging in 2006, research from LMS reveals.

  • Renaming bridging loans would boost understanding

    19 Mar 2007

    As outlined in a recent column (Mortgage Strategy February 26), Andy Moody deserves strong industry support for his campaign to rename bridging loans 'short-term funding'. This describes the most important function of such loans much more accurately.

  • Rule confuses clients, says broker

    19 Mar 2007

    A broker has hit out at Financial Services Authority rulings insisting that commercial mortgage adverts include the same disclaimers as residential adverts.

  • Salt proves its value to parent

    19 Mar 2007

    Specialist lending division Salt has revealed that it contributed over 70% of parent lender the Derbyshire's 2bn mortgage lending in 2006.

  • Scarborough takes flak for direct-to-consumer plan

    19 Mar 2007

    Scarborough has come under fire following revelations that its subsidiary lender will launch a direct-to-consumer lending arm.

  • Scots borrowers get a break

    19 Mar 2007

    Kensington Mortgages is looking to bring in new affordability criteria on remortgages for Scottish borrowers who have signed protected trust deeds.

  • Self-build mortgages on the rise

    19 Mar 2007

    Sizing the self-build market has proved difficult. Research company Datamonitor estimates that the number of self-builders grew from about 14,000 in 1998 to 17,000 in 2002. Anecdotal evidence suggests that the number was near 20,000 by the end of 2006.

  • Shared ownership deals relaunched

    19 Mar 2007

    Preferred has relaunched its shared ownership product range.The products cater for a wide range of government schemes, including those for key workers.

  • Shelter from the sub-prime storm

    19 Mar 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

  • SHIP refutes ITV equity release mis-selling scandal claim

    20 Mar 2007

    Safe Home Income Plans has refuted Martin Lewiss claim on Tonight with Trevor McDonald, that equity release will become the next major mis-selling scandal.

  • Shoparound plumbs for xit2

    19 Mar 2007

    Shoparound Mortgages has chosen xit2's valuation exchange to manage its instructions.

  • Small companies pay price of Corporation Tax cuts

    21 Mar 2007

    Despite Gordon Browns pledge to cut Corporation Tax from 30p to 28p, small companies will pay more, experts reveal.

  • Sophisticatedmortgages.com launches with PMS

    19 Mar 2007

    Premier Mortgage Service mortgage club has agreed a distribution deal with Clegg Gifford Private Clients to release a bespoke mortgage service for individuals or businesses worth 250,000 or more.

  • Speak out on competence issues

    19 Mar 2007

    The regulator has published a consultation paper on changes to its training and competence regime and industry players must make their opinions known, says Bill Warren

  • SPML release credit repair product

    19 Mar 2007

    Southern Pacific Mortgage Limited has released a one-year fixed rate product, starting from 6.04% with no extended tie-in.

  • Spread the news about equity release

    19 Mar 2007

    Lead generation is probably the greatest challenge facing advisers who want to be involved in the equity release sector.

  • Spring heralds the HIPs beauty parade season

    19 Mar 2007

    In last week's column I pointed out that by mid-April we will know for certain whether Home Information Packs are going to happen or not.

  • Stamp Duty exemption for zero carbon homes will have minimal impact

    21 Mar 2007

    Gordon Brown’s Budget proposals to exempt all new zero carbon homes up to £500,000 from Stamp Duty will have little impact on the cost of moving home, says e.surv chartered surveyors.

  • Surprises await house hunters

    19 Mar 2007

    Ghosts, pets with their own bedrooms and copulating couples are some of the unusual experiences reported by house hunters in research by Smile Mortgages. It found that 23.5% of people viewing homes have reported unusual experiences. These ranged from owners giving pets their own bedrooms to experiencing ghost-like presences. Some have been locked into houses and others have walked in on couples in the bedroom.

  • SWB lending rose 23% during 2006

    19 Mar 2007

    Scottish Widows Bank says that mortgage lending for 2006 was £1.03bn - up 23% on 2005. It also says mortgage balances as of December 31 2006 stood at £5.6bn. 2006 was Scottish Widows Bank's 12th successive year of growth.

  • Take a break option proves popular

    19 Mar 2007

    Lenders are increasingly offering mortgage deals with payment holiday options, research from Money-Expert.com reveals.

  • Taking a fresh look at Stamp Duty

    19 Mar 2007

    The chancellor should consider ways to retain the tax take from Stamp Duty while aligning it with the realities of the housing market and helping first-time buyers, says Drew Wotherspoon

  • Tenancy Deposit Solutions reveals fees for agents

    22 Mar 2007

    Tenancy Deposit Solutions has revealed its tariff for agents who join its tenancy deposit protection scheme.

  • The Mortgage Mole

    19 Mar 2007

    Digging the dirt in the mortgage world ...

  • This Week's Dilemma

    19 Mar 2007

    I am a directly authorised sole trader. I have always dealt honestly with my customers and had no trouble getting authorised. But with the shift to principles-based regulation I am finding it hard to keep up-to-date with what the Financial Services Authority expects of me. FSA concerns are not all in one place and seem to be spread across speeches, press releases and newsletters, I am 55 years old and want to build my trading turnover to boost my retirement savings but compliance work ...

  • Title Deed: Easier2Move

    19 Mar 2007

    Choosing the name Easier2Move was not a difficult challenge for managing director Colin Baum.

  • Tory air tax plan could hit overseas market

    19 Mar 2007

    David Cameron's proposals to charge a higher rate of aviation tax to consumers who take more than one short-haul flight a year will have a damaging effect on the overseas property market, says Rightmove Overseas.

  • Tory seeks funding equality for mutuals

    23 Mar 2007

    Conservative backbencher Sir John Butterfill has posted a Private Members Bill to level the playing field between the mutual sector and other financial organisations. The Bill seeks to amend the Building Societies Act to enable the relaxation of limits of the prescribed non-member funding limits, currently standing at 50%.

  • Transcom tightens net on debt absconders

    21 Mar 2007

    Transcom, the European credit management provider is to jointly purchase European debt portfolios with Arrow Global, making it harder for absconders to escape their debts. Arrow Global has already purchased more than $17bn in receivables. Transcom is Europe’s largest collections company by geographic footprint. The deal with Arrow Global will focus on UK credit card and loan portfolios, including debt created due to credit card and loan accounts that originated in the ...

  • UCB enters adverse market

    21 Mar 2007

    UCB Home Loans is expanding into the adverse market from March 22.

  • Unity launches residential range

    19 Mar 2007

    Unity Homeloans has launched a residential range. The light to medium sub-prime range now allows for County Court judgements up to £7,500. The lender has also introduced 90% LTV on light adverse deals and maximum amounts of £1m on self-cert and £1.5m on full status deals. Unity is offering 5.69% on its two-year fixed rate and there are also new three-year fixed rate options in all product categories.

  • US separate beds craze unlikely to catch on over here

    19 Mar 2007

    Experts have predicted that the US trend for split master bedrooms will not catch on in the UK as space here is too limited and expensive.

  • US sub-prime giant is brought low

    19 Mar 2007

    The New York Stock Exchange delisted ailing mortgage giant New Century Financial Corporation, the second largest funder of sub-prime loans in the US, last week.

  • Warning on Council Tax

    19 Mar 2007

    More pensioners will be plunged into poverty if the government introduces a new band to double Council Tax on 1m homes, says the Devon Pensioners' Action Forum.

  • Worries about wobbly stock markets

    19 Mar 2007

    Shaky world stock markets could herald trouble for the UK mortgage sector, especially if troubled sub-prime lenders in the US take a big financial hit, says Sally Laker

  • Yousefi quits A&L to join Merrill Lynch

    22 Mar 2007

    Mehrdad Yousefi has quit his role as head of intermediary mortgages at Alliance & Leicester after an 18-year career with the lender, to join Merrill Lynch.

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