Mortgage Strategy
19 May 2008

  • Abbey cuts rates on several deals

    19 May 2008

    Abbey has cut rates on flexible and tracker deals as well as some fixed rates. The lender says it is focussed on providing choice but is continuing to review its mortgage range.

  • Europe still tops investment chart

    19 May 2008

    Europe still has six of the top 10 overseas property investment hotspots, says Currencies Direct. The firm says Spain continues to rule but young people are boosting the popularity of cities such as Vancouver and Auckland.

  • NatWest unveils fixed products

    19 May 2008

    NatWest has launched several fixed rates. The deals include a two-year fixed rate at 6.74% and a two-year fixed rate has been reduced to 6.99% from 7.09%.

  • Packagers having to work harder than ever, for less reward

    21 May 2008

    With the news that Future Mortgages left the market this week, it has left many packagers scratching their heads wondering who is left.

  • £50Bn not enough to turn market around

    19 May 2008

    An economist has branded the Bank of England's £50bn Special Liquidity Scheme as "a snowflake in an iceberg" and says it falls far short of what is needed.

  • 10m endowment policies used in 80s and 90s

    19 May 2008

    More than 10 million mortgage endowment policies are thought to have been sold in the UK during the 1980s and 1990s, claims Fairinvestment.co.uk.

  • 30% rise in home owners seeking debt advice

    19 May 2008

    The number of people seeking advice on mortgage arrears and late payments has surged 30% so far in 2008, says Community Money Advice.

  • 80% Of sub-prime losses disclosed, says Fitch

    19 May 2008

    Fitch Ratings says banks around the world have already written down more than 80% of their losses on sub-prime mortgage assets.

  • A good time to buy new-build homes

    19 May 2008

    There are bargains to be had in the new-build sector thanks to developers' growing desperation to shift units, as long as clients tread carefully and seek brokers' advice, says Mark Harris

  • A&L increases buy-to-let fixed rate

    19 May 2008

    Alliance & Leicester has increased the rate on its buy-to-let two-year fixed product from 6.49% to 7.14%.

  • A&L launches Imail system

    21 May 2008

    Alliance & Leicester has launched an email communication system that is designed to offer brokers personalised messages.

  • A&L sales boss claims gender gap is closing

    19 May 2008

    Alliance & Leicester's new head of intermediary sales claims the gender divide in the sales sector of the mortgage industry is narrowing.

  • Advantage to cease origination next month

    20 May 2008

    Advantage has revealed it will stop all mortgage origination on Monday June 16, following completion of its last outstanding mortgage offer.

  • AMI calls for FSA to reconsider comments

    20 May 2008

    The Association of Mortgage Intermediaries has today called on the Financial Services Authority to reconsider its comments on broker disclosure.

  • AMI hits back at FSA over dual pricing

    20 May 2008

    The Association of Mortgage Intermediaries has called on the Financial Services Authority to reconsider its comments on mortgage intermediary disclosure.

  • AMI says brokers could save consumers £1,830 each year

    21 May 2008

    The Association of Mortgage Intermediaries has today revealed brokers could save consumers up to £1,830 each year, in its Value of Mortgage Advice report.

  • B&B plans £300m rights issue

    19 May 2008

    Bradford & Bingley plans to raise £300m in a rights issue on the basis of 16 new ordinary shares for every 25 existing ordinary shares.

  • B2L is healthy and here to stay, says Paragon

    19 May 2008

    The buy-to-let bubble has not burst, says Paragon Mortgages.

  • Bananas Inc appoints underwriter

    22 May 2008

    Bananas Inc has recruited an additional underwriter to help speed mortgage application turnaround times.

  • Barclays blames crunch for losses

    19 May 2008

    Barclays has revealed write-downs of £1.7bn for Q1 2008, blaming the losses on its exposure to sub-prime and the downturn in the credit markets. Last week Barclays warned that group profits would be down due to tough trading conditions affecting its investment banking division in March.

  • BDS appoints BDM

    19 May 2008

    BDS Mortgage Group has appointed Lesley Munro as BDM to manage brokers switching to the group.

  • BDS sees increase in online enquiries

    19 May 2008

    BDS has seen a five-fold increase in online enquiries as a direct result of its specialist online sourcing system, it says.

  • Blemain appoints legal director

    21 May 2008

    Blemain Group has appointed a group legal director to head up its mortgage litigation.

  • Blemain appoints legal director

    21 May 2008

    Blemain Group, the Manchester based lender, has appointed Anis Waiz to the new role of group legal director.

  • Blemain offers help to Future brokers

    20 May 2008

    Following the announcement from Future Mortgages that it is to no longer accept second charge lending as of 21st May, Blemain Finance has offered a helping hand to brokers who may not be able to get cases into Future fast enough.

  • BoE reveals further falls in demand for property

    21 May 2008

    A Bank of England report published today has found that weakness in demand for housing has intensified.

  • BoI reveals £147m pre-tax profit from mortgage arm

    22 May 2008

    Pre-tax profits for Bank of Ireland's UK mortgage book rose by 1% from £145m in 2007 to £147m in 2008.

  • Bright joins forces with FT Partners

    19 May 2008

    Master broker Bright Finance has formed a strategic alliance with FT Partners, the secured loan brokerage network.

  • British Insurance blames banks for slump in MPPI sales

    22 May 2008

    Banks and building societies are to blame for a downturn in Mortgage Payment Protection Insurance sales, says British Insurance.

  • Brokers complaining about dual pricing are hypocrites

    19 May 2008

    It was with a mix of amusement and incredulity that I read about the burgeoning dual pricing row and the Association of Mortgage Intermediaries' views on the matter (Mortgage Strategy May 5).

  • Brokers feel the strain of dual pricing

    19 May 2008

    Lenders seem to be doing all they can to destroy their relationships with brokers and the FSA's defence of dual pricing leaves brokers under attack on two fronts, says Sue Read

  • Brokers must fight for extra income

    19 May 2008

    Brokers feel betrayed by lenders opting for direct business but there's no point complaining. Instead they must compete with them for cross-selling opportunities, says Sally Laker

  • Brokers should have access to clients' full credit histories

    19 May 2008

    With all the debate about TCF, there is one area where we are not treating customers fairly or rather are not able to do so - that is the question of brokers being able to conduct full credit searches.

  • Brokers slam FSA fees call

    19 May 2008

    The regulator's suggestion that brokers charge fees when advising clients to go direct has received a hostile response.

  • Brown offered £100 for Labour

    19 May 2008

    The chairman of the Northern Rock Shareholders Action Group has sent an open letter to Prime Minister Gordon Brown offering to buy the Labour Party for £100. It was sent after a newspaper report claimed Labour was reliant on loans from prominent businessmen who are beginning to demand repayment. Roger Lawson, who is heading the campaign for NR shareholders, says: "Bearing in mind the difficulties facing the party, a period of temporary public ownership under a new management team may ...

  • Brown pledges to beef up regulation

    19 May 2008

    Prime Minister Gordon Brown has resolved to strengthen the UK against future economic crises by revamping the powers of the Bank of England and the Financial Services Authority.

  • Buy-To-Let Boom

    23 May 2008

    While Mini Monty sleeps, the rest of us battle on through the maelstrom of the modern financial world.

  • C&G withdraws and replaces entire range

    20 May 2008

    Cheltenham & Gloucester has withdrawn and replaced its entire range of mortgage products.

  • Callcredit sees 20% rise in people checking credit rating

    21 May 2008

    Owen Roberts, head of Callcredit Check says that it is finding people taking more interest in their credit rating.

  • Changing roles

    19 May 2008

    Women have traditionally left important financial decisions to the men in their lives but changing gender roles are pushing them to the forefront, says Mark Skinsley

  • Claims firms' fees come under fire

    19 May 2008

    The LoanCheck Foundation is calling for an enquiry into financial claims chasers that are coercing customers into paying high upfront fees.

  • Client confidence is the key for brokers

    19 May 2008

    With the recent news that HBOS is following the Royal Bank of Scotland's lead by seeking financial support from its shareholders, I started to think about what brokers could do to protect themselves in the prevailing market conditions.

  • Commercial First gets £40m cash injection from Lloyds TSB

    22 May 2008

    Commercial First has successfully refinanced its business with a £40m three year working capital facility from Lloyds TSB.

  • Commercial lenders still showing support for brokers

    21 May 2008

    Adam Tyler, Chief Executive of the National Association of Commercial Finance Brokers says the trend of lenders turning their backs on brokers in the residential market is not being mirrored in the commercial sector.

  • Crunch could last until late 2009

    19 May 2008

    Liquidity in the mortgage market may not return to normal levels until the end of 2009, says Jackie Bennett, head of policy at the Council of Mortgage Lenders. In a seminar at the Mortgage Business Expo, Bennett warned that it may take 18 months before lenders' funding issues are resolved.

  • Crunch provides protection silver lining

    19 May 2008

    Figures published by the Bank of England reveal that net mortgage lending to borrowers fell to £6.9bn in March compared with £7.3bn the previous month.

  • CurriculumVitae: Stewart Hunter

    19 May 2008

    "The horse had to go"

  • Day of reckoning for mortgage expos

    19 May 2008

    By the time this article is published the numbers will have been counted and the fate of regional Mortgage Business Expos sealed.

  • Debt advice for borrowers

    19 May 2008

    Debt Advice Portal has joined forces with packager W&B Mortgage Solutions to provide debt solutions to help borrowers who are unable to get mortgages.

  • Defaqto says equity release market thriving

    20 May 2008

    A research paper issued by Defaqto has found the equity release market is thriving in the face of wider market difficulties.

  • Deposit insurance is worth considering

    19 May 2008

    It's a pity life doesn't mirror comic books. But instead of Mortgage Man zooming over Canary Wharf and the City to put the financial world to rights, we have a set of heroes who modestly wear their Y-fronts under their tights and could easily be mistaken for ordinary folk.

  • Don't expect base rate cut until 2010, says BoE

    19 May 2008

    There may not be any more base rate cuts for two years, the Bank of England has warned.

  • Dual pricing is no problem, says OFT

    19 May 2008

    The Office of Fair Trading has effectively sanctioned the practice of dual pricing by lenders, saying it is permissible as long as lenders do not breach competition law.

  • Duncan Berry, director of mortgages at GE Money Home Lending

    22 May 2008

    With lenders continuing to pull out of the secured loan market, LoanDistributor.co.uk has interviewed Duncan Berry, director of mortgages at GE Money Home Lending, to discuss the market, regulation, and why he thinks it is still lacking a unified voice.

  • ECB boss warns worst of crunch not over

    19 May 2008

    The worst of the credit crunch is not necessarily over, says Jean-Claude Trichet, head of the European Central Bank.

  • Electronic mailing service DeskDirect Global launches

    23 May 2008

    An electronic mailing service has launched, enabling brokers to send mortgage documents electronically, using an international network of automated processing centres.

  • Equity Release Club's Wilson was invaluable in tricky case

    19 May 2008

    In an otherwise gloomy industry it was great to see a ray of sunshine in the form of Stuart Wilson of the Equity Release Club.

  • Evaluate offers online trading platform for lenders

    21 May 2008

    Evaluate Technologies has claimed that its online trading platform costs less than other systems, but is just as good.

  • Exclusive Connections begins consultation with staff

    21 May 2008

    Exclusive Connections has today confirmed it has entered into a period of consultation with all staff members.

  • Ex-Money Partners sales boss to launch sub-prime broker

    19 May 2008

    Jim Nash, former national sales manager at Money Partners, is launching a sub-prime brokerage, specialising in the secured loan, mortgage, bridging and commercial markets.

  • First Direct resumes lending to new customers

    20 May 2008

    First Direct has now resumed selling mortgages to new customers after its self-imposed suspension last month.

  • FSA bureaucrats are clueless about commercial realities

    19 May 2008

    I can only express my support for the outrage being felt by the broker community over some lenders' dual pricing strategies.

  • FSA chief writes open letter on dual pricing

    20 May 2008

    The Financial Services Authority’s chief executive has written an open letter on dual pricing, saying brokers may not have to tell clients about specific deals from lenders that are cheaper direct.

  • FSA fines insurance firm £640,000 for call centre failings

    21 May 2008

    The Financial Services Authority has fined UNAT DIRECT Insurance Management £640,000 for failures over the sale of policies via its call centres.

  • FSA fines Thinc £900,000

    19 May 2008

    The Financial Services Authority has fined Thinc Group £900,000 for failures in its sub-prime business, saying that its conduct could have an adverse impact on clients.

  • FSA fines three brokers

    22 May 2008

    The Financial Services Authority has doled out a total of £37,100 in fines to three mortgage brokers for inadequate sales procedures.

  • FSA shames brokerage over poor promotions

    22 May 2008

    The Financial Services Authority has today named and shamed London-based brokerage Mortgageland over poor financial promotions, inadequate sales processes and failures in record-keeping.

  • FSA to crack down on fraud

    19 May 2008

    The Financial Services Au-thority will step up its efforts to crack down on professional mortgage fraud rings.

  • Future halts second charge lending

    19 May 2008

    Citigroup owned lender, Future Mortgages has given brokers until close of business on Wednesday 21 May to obtain a web "Get Decision" for secured loan business.

  • Future Mortgages to close

    19 May 2008

    Future Mortgages is closing down for new business as of Wednesday May 21.

  • Future Mortgages to shut up shop for new business

    20 May 2008

    Citigroup is pulling out of the UK sub-prime market with around 700 job lossess expected at Future Mortgages and at its CitiFinancial personal loan business.

  • Galliford Try Homes tries to lure house buyers

    22 May 2008

    Galliford Try Homes is launching a range of initiatives to encourage hesitant buyers to purchase a new home.

  • GB Finance launches online case tracking

    19 May 2008

    Bridging loans company GB Finance has introduced an online case tracking system which gives brokers 24/7access to the status of their client’s applications.

  • GE looking to expand packager offering

    22 May 2008

    GE Money Home Lending says it's looking to continue its expansion with packagers that have sustainable propositions as Network Data is added to its packager panel.

  • GEMHL director discusses future of secured lending

    22 May 2008

    Duncan Berry, director of mortgages at GE Money Home Lending, has spoken to Loandistributor.co.uk about its plans for the secured loan market.

  • Gordon, I'll give you £100 for the Labour Party because it may be a gone concern

    19 May 2008

    An open letter to Prime Minister Gordon Brown

  • Government must act to avoid NR repossession bloodbath

    19 May 2008

    Does the government really think its £10m package for debt advice is going to help borrowers facing repossession? Moreover, now that taxpayers are supporting bank debt in general, why does it think an extra £10m is acceptable?

  • Government plans to help FTBs may not be enough

    19 May 2008

    Several organisations in the property sector have warned that government plans to help first-time buyers may not go far enough.

  • Gross mortgage lending hits £23.5bn in April

    21 May 2008

    Gross mortgage lending reached an estimated £23.5bn in April, figures published today by the Council of Mortgage Lenders reveal.

  • Guardian Debt Management teams up with AToM

    21 May 2008

    Debt management specialist Guardian have teamed up with All Types of Mortgages to distribute its credit management solutions.

  • Guardian Debt Management teams up with AToM

    21 May 2008

    Debt management specialist Guardian have teamed up with All Types of Mortgages to distribute its credit management solutions.

  • Guardian links up with Connect

    19 May 2008

    Credit management specialist Guardian Debt Management has linked up with Connect Mortgage Group for distribution of its credit management services.

  • Halifax slashes fixed and tracker rates

    20 May 2008

    Halifax is slashing the rates on its fixed and tracker rates as of Wednesday May 21.

  • Hard Cell

    19 May 2008

    After that blatant bit of identity theft, it was only appropriate that Murray should do penance. But rather than settling for chanting a dozen Hail Marys, the intrepid hack headed off to the nick.

  • hat would be your first port of call if you got into financial difficulties?

    19 May 2008

    Last week The government revealed plans to launch a £10m package to support struggling home owners. The initiative will see £9m invested in Citizens Advice Bureau for face-to-face debt advice. The remaining £1m will pave the way for access to free legal representation for those at risk of repossession.

  • HBOS closes £500m RMBS deal

    20 May 2008

    HBOS has closed its first public UK residential securitisation deal since July 2007.

  • Help offered to brokers hit by Future closure

    20 May 2008

    Blemain Finance is offering a helping hand to brokers left high and dry by the imminent closure of Future Mortgages.

  • High risk remortgagers may be offered SVRs only

    20 May 2008

    Remortgaging borrowers regarded as high risk may only be offered SVR deals by their existing lenders under new customer profiling rules, says Mform.co.uk.

  • HIPs need to be buried, not postponed

    19 May 2008

    It was unsurprising to see that the full rollout of Home Information Packs has once again been delayed, with first day marketing extended until the end of 2008. But what HIPs really need are burying, not postponing.

  • Home & Capital on Paradigm panel

    19 May 2008

    Paradigm Mortgage Services has added Home & Capital to its equity release provider panel. H&C will offer Paradigm members access to its range of home reversion plans.

  • Home Buyer warns brokers of compliance deadline

    19 May 2008

    Home Buyer Systems is warning brokers and networks that time is running out for them to put right common compliance failings.

  • Housing starts fell in Q1 2008

    19 May 2008

    Figures from the Department for Communities and Local Government reveal there were 32,100 housing starts in England in Q1 2008 - down 24% compared with Q1 2007. Housing minister Caroline Flint says this is a short-term trend, with the government's target of building 240,000 homes per year by 2016 still being achievable.

  • If direct deals are best brokers will have to charge for advice

    19 May 2008

    I agree with Gary William's letter in the May 5 issue of Mortgage Strategy, in which he points out that the best mortgage deals are often available direct from lenders.

  • If lenders play dirty with us it's time to repay them in kind

    19 May 2008

    I don't believe the dual pricing from lenders is purely down to cost-cutting.

  • Illegal alien

    19 May 2008

    On the subject of social exclusion, Strategy ace reporter Laura Stavro- Beauchamp, who happens to be Canadian, ran into a spot of border bother last week.

  • It is time to accentuate the positive

    19 May 2008

    I consider myself to be of a cheerful disposition but even I'm struggling to find a silver lining in the reports predicting disaster for the mortgage market.

  • IVA.com sees 50% traffic rise

    21 May 2008

    IVA.com has reported a significant rise in enquiries for individual voluntary arrangements as consumers try to relieve the pressure of rising debt.

  • Job cuts in house building sector inevitable

    22 May 2008

    The Home Builders Federation has warned that job cuts in the house building sector are looming.

  • Keep on learning

    19 May 2008

    Continuous professional development allows brokers to keep their skills and knowledge up-to-date in a constantly changing marketplace, says Alison Beeston

  • Kensington to distribute structured products

    22 May 2008

    Kensington is launching into the distribution of its parent company's structured products.

  • Landlords still able to fund purchases

    20 May 2008

    Buy-to-let landlords still believe it is easy to obtain mortgage finance, data from The Money Centre reveals.

  • Legal referrals can pay off for brokers

    19 May 2008

    Recent research indicates that many brokers are failing to take the opportunity to sell conveyan-cing services to their clients.

  • Lenders must be transparent across distribution channels

    19 May 2008

    There has been a lot of coverage in Mortgage Strategy about lenders' dual pricing policies.

  • Loanmakers takes to the roads with Credit Crunch racing

    19 May 2008

    Tim Wheeldon, managing director of Loanmakers, has become a driver in an endurance racing series.

  • Loanoptions.co.uk offers debt solutions referral

    21 May 2008

    Loanoptions.co.uk, the Wilmslow based national secured loans packager is offering clients a debt referral solution, if they do not meet the criteria for a secured loans.

  • Lomax steps down as BoE deputy governor

    19 May 2008

    The deputy governor of the Bank of England is stepping down, it has been confirmed.

  • Mainstream mortgage lenders go into hiding at Expo

    21 May 2008

    Natalie Martin

  • Market remains flexible for DA firms, says TMA

    20 May 2008

    Directly authorised brokers are being urged by The Mortgage Alliance to capitalise on the flexibility that remains on offer across the market.

  • Market Watch 20 May 2008

    19 May 2008

    Swaps raced back up last week, wiping out some of the recent falls. Three-month LIBOR is now at 5.77%.

  • Missed payments on the increase

    19 May 2008

    LeadPoint claims the number of borrowers missing mortgage repayments is rising.

  • M-Next Partners offers insurance

    19 May 2008

    Mortgage Next Partners has launched buildings and contents cover and mortgage payment protection insurance for directly authorised brokers. The products guarantee to pay 30% commission for the life of the policies.

  • Moneynet.co.uk appoints communications manager

    19 May 2008

    Moneynet.co.uk has appointed Andrew Hagger as PR and communications manager.

  • More surveyors see prices fall

    19 May 2008

    The Royal Institution of Chartered Surveyors says 95% more surveyors saw house prices fall than rise in April. This is the highest figure since 1978 and a big increase compared with the 79% seen in March.

  • Mortgage deals down 20,000

    19 May 2008

    The number of total mortgage deals available has been slashed by more than half in the last six months, claims Mortgage Monitor.

  • Mortgage deals down and tracker market decimated

    20 May 2008

    The number of mortgage deals available has fallen by more than half in the last six months, according to Mortgage Monitor.

  • Mortgage Times offers free vals on TMB applications

    21 May 2008

    Mortgage Times is offering free valuation of all TMB applications.

  • Mortgage Times offers free valuations on TMB deals

    20 May 2008

    Mortgage Times is offering free valuation on all The Mortgage Business applications.

  • MPC votes eight to one to freeze base rate

    21 May 2008

    Only one Monetary Policy Committee member voted against the decision to maintain base rate at 5%, minutes from the committee meeting reveal.

  • Multiple borrower deals accepted

    19 May 2008

    Home buyers can join forces and submit multiple borrower mortgage applications, says Mform.co.uk. The website says around 46% of lenders will accept multiple borrower applications from up to a maximum of four clients.

  • Mutual gives proc fee guarantee

    19 May 2008

    Melton Mowbray has guaranteed proc fee payments for cases completed via its packager arm, Praxis Mortgage Solutions. Arif Darr, managing director of Praxis, says: "Clients are concerned about the 'here today, gone tomorrow' perception of packagers. We want to allay those fears."

  • NAEA members see signs of market stability

    23 May 2008

    Members of the National Association of Estate Agents have seen certain sectors of the housing market start to stabilise.

  • Name Game

    19 May 2008

    It was a case of mistaken id-entity last week for John Murray, editor of Mortgage Strategy's sister title Lending Strategy.

  • Nationwide campaign will help teens manage money

    19 May 2008

    Nationwide has launched a campaign to help students manage their finances.

  • Nationwide cuts not enough

    19 May 2008

    A broker claims Nationwide is not going to get back into intermediaries' good books anytime soon despite the building society slashing some of its fixed rates.

  • Nationwide's pre-tax profit rises by £112.5m

    22 May 2008

    Nationwide’s underlying pre-tax profit for the full year up to April 4 2008 has risen £112.5m to £781.1m.

  • New Star claims BoE has swapped £16bn in securities

    22 May 2008

    Banks may have swapped about £16bn of securities under the Bank of England’s Special Liquidity Scheme within the first 10 days of its launch, analysis from New Star suggests.

  • Newcastle to spend £1m on boosting IT systems

    19 May 2008

    Newcastle plans to invest £1m in technology in a strategy it calls Mortgage Vision.

  • Nigel Payne, managing director at TMB discusses the changing market

    20 May 2008

    With lenders' pulling from the market almost every week, Mortgagedistributor.co.uk talks to Nigel Payne, managing director at The Mortgage Business about what its plans are for the market.

  • No plans to cut packager panel says TMB

    21 May 2008

    Nigel Payne, managing director at The Mortgage Business says it has no plans to follow other lenders and cut its packager panel. Despite rumours that the lender was about to make cuts, Payne says: "We have no plans to condense our panel. We have strong relationships within the packaging community and appreciate the support our packager partners have given us in this market.

  • No product could cater for all of Montlake's scenarios

    19 May 2008

    I read with interest the cover story by Mark Skinsley last month about long-term fixed rate products and the comments made by Phil Rickards of BM Solutions and Andrew Montlake of Cobalt Capital.

  • No sign of housing market crash, says Assetz

    20 May 2008

    There is no evidence of a housing market crash despite average house prices remaining flat, says the May edition of the Assetz House-Price Watch.

  • NU launches equity release TV campaign

    20 May 2008

    Norwich Union is launching an equity release TV campaign.

  • OFT bans Scottish estate agent

    19 May 2008

    The Office of Fair Trading has banned an estate agent in Scotland for fraudulent activity.

  • On the ball for charity

    19 May 2008

    Mortgage and insurance broker Lifetime Financial Management recently hosted a charity football tournament as part of its 10th anniversary celebrations.It featured an array of former professional players including Ray Parlour (pictured above) and Luther Blissett. Mortgage Strategy took part but failed to make the final stages due to numerous refereeing errors.The tournament raised £10,000 for the Anthony Nolan Trust.

  • Package to boost equity release

    19 May 2008

    The Personal Finance Society is launching a broker support package including an advice guide. The PFS hopes this initiative will stimulate market growth, boost consumer confidence and counter previous bad publicity.

  • Packager firms NMS and FMS merge

    23 May 2008

    Niche Mortgage Solutions and Finance & Mortgage Solutions have joined forces and merged their packager arms.

  • Paradigm adds Hodge to equity release panel

    21 May 2008

    Hodge Equity Release has joined Paradigm Mortgage Services’ preferred equity release panel.

  • Paragon reports 14% rise in average rent

    19 May 2008

    Rents have risen nearly 14% during the past year, reveals the latest buy-to-let index from Paragon Mortgages.

  • Paragon reports 94.9m of secured lending

    21 May 2008

    In its interim results today, Paragon reported overall profits of 38.4m, with secured personal finance advances of 94.9m for the six months ended 31 March 2008, compared with 103.3m in the first half of 2007.

  • Paragon reveals 38.4m profit

    21 May 2008

    Paragon Mortgages has today revealed a 38.4m profit in its half-year results.

  • Partners will stop clients walking away

    19 May 2008

    At times like this it is important that we maximise every business opportunity. But to grasp the nettle, firms must establish healthy referral relationships.

  • People turning to IVAs come pay day

    20 May 2008

    Increasing numbers of people are finding that pay day no longer brings relief from the worry of their debts and are turning to professional help at the end of the month, says IVA comparison site IVA.com.

  • Picture chief executive reported to have left

    20 May 2008

    It has been reported in the local Welsh press that the majority of the senior management team at Picture Financial, including its chief executive Neville Allport, have left the company.

  • PPI sold via stealth, British Insurance warns

    20 May 2008

    British Insurance is urging consumers to source payment protection insurance independently from their loan, or else face crippling financial payback.

  • Pressure groups guard our heritage

    19 May 2008

    From the Victorian Society to the Georgian Group, pressure groups interested in preserving our architectural tradition do a sterling job in the face of developers, says Simon White

  • Rate Matcher deal extended

    19 May 2008

    HSBC has extended its Rate Matcher deal until June 29. It is available to home owners whose fixed rate mortgages mature before August 31, subject to affordability criteria.

  • Readers doubt impact of debt support package

    19 May 2008

    Some 79% of Mortgage Strategy Online readers believe that the £10m support package unveiled by the government last week doesn't go far enough to help struggling home owners. Only 21% of them think it will make a difference.

  • Regulator reviews repossessions

    19 May 2008

    The Financial Services Authority is conducting a probe into the repossession practices of several lenders. The regulator revealed the review during a seminar at the Mortgage Business Expo in Manchester last week. Brokers at the session suggested that in a growing number of cases lenders were too quick to move to repossession. They want to see lenders work more closely with clients to keep them in their homes rather than see cases go to court too quickly. The review's findings will be ...

  • Rental sector report does not go far enough, trade bodies warn

    20 May 2008

    Trade bodies across the private rental market claim a government report into the sector could have done more to build on the sector's sustained success.

  • Repossession is the responsible way

    19 May 2008

    The latest Ministry of Justice repossession figures have prompted another media outcry and the temptation to sensationalise the issue is clearly irresistible.

  • RICS predicts 40% drop in housing transactions

    19 May 2008

    The Royal Institution of Chartered Surveyors predicts a 40% drop in housing transactions this year if the lending squeeze continues.

  • RICS says falling property sales could drop further

    21 May 2008

    The Royal Institution of Chartered Surveyors says figures released by the Council of Mortgage Lenders today over falling housing transactions could worsen.

  • Right attitude key to regulatory visits

    19 May 2008

    Brokers must show the right attitude to handle visits from the Financial Services Authority, a compliance expert has warned.

  • Rise in cost of living brings payday loans to fore

    20 May 2008

    With the cost of the essentials of life spiraling, a record number of consumers are turning to payday loans to help tide them over financially.

  • Rob Jupp, managing director, Personal Touch Packaging

    19 May 2008

    Always look on the bright side of life

  • S&P in deal to boost GI sales

    19 May 2008

    Select & Protect has signed a deal with Payplan as part of its strategy to enter new markets. The deal offers Payplan customers access to S&P's range of general insurance products. The partnership aims to raise the profile of GI among Payplan's customers.

  • Secured loan DIPs double at Pink

    20 May 2008

    The number of monthly Decisions in Principle submitted for secured loans, via Pink Home Loans, has doubled since its online facility was launched in June 2007.

  • Skipton information group rebrands as Callcredit

    23 May 2008

    Skipton Information Group has rebranded to Callcredit Information Group following its recent acquisitions.

  • Still cheaper to borrow more says MoneyExpert.com

    19 May 2008

    Average rates on unsecured loans of 5,000 and 7,500 have increased by up to 1% in the past six months despite the Bank of England cutting rates three times, shows research from MoneyExpert.com.

  • Stock Picker

    19 May 2008

    Last week HSBC announced that its Q1 2008 profits were ahead of those for the same period last year despite the group making $1.3bn of addition-al write-downs.

  • Stonehaven sees 50% rise in broker registration

    22 May 2008

    Equity release provider Stonehaven has seen a 50% rise in firms registering to sell its products in April compared with March 2008.

  • Struggling home owners flock to rental sector

    22 May 2008

    Home owners struggling to sell their homes are turning to the rental market, says the Royal Institution of Chartered Surveyors.

  • Sun sets on the Californian dream

    19 May 2008

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

  • Talks to secure DA benefits

    19 May 2008

    The Association of Mortgage Intermediaries is in talks with the Financial Ombudsman Service to ensure that directly authorised brokers get similar benefits to appointed representatives when they retire.

  • Tax warning branded a scare tactic

    19 May 2008

    The Association of Residential Letting Agents has branded a warning from DTE Group on the taxation of second properties as scaremongering.

  • Technology will be key to intermediaries' survival

    20 May 2008

    Homebank has warned brokers and packagers of the need to invest in the right technology to survive the credit crunch.

  • The One account products pulled

    19 May 2008

    RBS Intermediary Partners has temporarily withdrawn all The One account deals from sourcing systems due to high demand. RBSIP says it has done so to maintain service levels.

  • The Eye Of The Storm

    21 May 2008

    It never ceases to amaze me that despite the almost blanket coverage the mortgage market has received since the credit crunch began, how many people are only now acknowledging the difficulties.

  • This week's top question from CashQuestions.com

    19 May 2008

    Question: I have two clients, a husband and wife who are 56 and 60 respectively. They have a property worth £140,000 and an interest-only mortgage of £100,000 with 10 years remaining. They're worried as they will end up owing the same amount on their home. The couple ha put the house up for sale but after paying off the mortgage they will be left with just £40,000 for their next property. What would you advise?

  • Three options in a constricted market

    19 May 2008

    Everyone in the industry is aware that the mortgage market faces tough times in 2008 and there is no recovery in sight.

  • Tiner joins FSSC board

    22 May 2008

    Former Financial Services Authority chief executive John Tiner has been appointed to the board of the Financial Services Skills Council.

  • Tiuta backs bridging body

    19 May 2008

    Tiuta has announced its support for the Association of Short Term Lenders. It is calling on the new trade body to reflect best practice and work with major regulatory and lending bodies to represent bridging lenders while respecting their competitive individuality.

  • TMA tells DAs they still have choice

    20 May 2008

    Directly authorised mortgage intermediaries have been urged to make the most of their status, by The Mortgage Alliance.

  • TMB allows access to offer documents online

    19 May 2008

    TMB is allowing all brokers and packagers to access their client’s offer documents online, allowing them to print them in their own office.

  • TMB provides online offer documents

    19 May 2008

    The Mortgage Business has revealed that from today all brokers and packagers can access their clients’ offer documents online, allowing them to print them in their own office.

  • Trade bodies support rent-back probe

    19 May 2008

    Trade bodies have given their backing to the Office of Fair Trading's probe into the sale-and-rent-back sector.

  • Trigold moves offices

    21 May 2008

    Trigold is moving to a new head quarters to support its growth plans.

  • Two million household to go on council waiting lists

    20 May 2008

    A slowdown in the economy combined with the credit crunch could lead to two million households, or five million people, on the waiting list for social housing in less than two years.

  • UBS offloads £11.25bn of sub-prime securities

    22 May 2008

    UBS has completed a deal for £11.25bn in sub-prime residential mortgage-backed securities with BlackRock.

  • UK non-conforming reserve funds are still adequate

    20 May 2008

    Most UK non-conforming residential mortgage-backed securitisations (RMBS) still maintain sufficient support to cover any near-term loss expectations, despite the recent spate of reserve fund draws.

  • Underwriting manager for Link

    19 May 2008

    Link Lending has appointed Matt Smith to the newly created role of underwriting manager. Smith will report on the firm's risk exposure at point of origination. John Maclean, managing director of Link, says: "I am confident Smith's experience will be an asset."

  • Unsecured loan rates rise despite base rate cuts

    19 May 2008

    Average rates on unsecured loans of £5,000 and £7,500 have increased by up to 1% in the past six months, says MoneyExpert.com.

  • Website calls for rate cut clarity

    19 May 2008

    Emoneyfacts.co.uk has lashed out at lenders for refusing to state whether they will pass on base rate cuts to borrowers. The consumer website says 41 lenders have yet to reveal their stance on the cuts.

  • We'll keep fighting HIPs because Labour won't listen

    19 May 2008

    If only the government would listen to experts in the fields they intend to legislate rather than charging in like a bull in a china shop, deaf to all but its own snortings, life would be much easier.

  • What are the implications of lenders cutting out brokers by adopting dual pricing?

    19 May 2008

    This risky strategy has brokers up in arms and lenders may find it hard to tap into this channel when the market returns, say our experts

  • Who’s fooling who?

    20 May 2008

    The older I get, and I’m very old, the more I’m convinced that language is a tool of deception and that this problem is compounded by the propensity of people to fool themselves as well as each other.

  • Woolwich revamps case tracking system for brokers

    20 May 2008

    Woolwich has launched a swathe of services to improve its mortgage system MAX.

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