Mortgage Strategy
2 April 2007

  • Consortium buys Vertex

    2 Apr 2007

    Vertex has been acquired from United Utilities by a consortium of three top US investment firms - Oak Hill Capital Partners, GenNx360 Capital Partners and Knox Lawrence International. Tom Drury has stood down as Vertex's managing director and the investors' nominee for chief executive officer is Canadian executive Richard Graham.

  • MSTV is a hit with brokers

    2 Apr 2007

    Mortgage Strategy TV has seen a massive rise in its viewing figures and has attracted a total of 6,541 viewers. With a high of nearly 2,000 viewers on March 7, the TV show's audience is growing by an average of 7% each week.

  • A&L launches 100% plus mortgage

    2 Apr 2007

    Alliance & Leicester has launched its new 100% plus LTV mortgage called PlusMortgage which combines a mortgage with an unsecured personal loan.

  • Accord expands credit repair range

    2 Apr 2007

    Accord Mortgages has expanded its credit repair product range with two-year fixed rates that come with free valuation. Accord's offering now includes full status and self-cert options from its near prime plus range.

  • Advisers must change with the times

    2 Apr 2007

    So what is the correct strategy for the average intermediary to take in market conditions such as we are experiencing?

  • Age limits in the spotlight

    2 Apr 2007

    Lenders that impose an age limit on mortgages could be shooting themselves in the foot as more people are requiring mortgages into retirement, say industry pundits.

  • All PPI clients can claim refunds

    2 Apr 2007

    The Financial Services Authority has confirmed that payment protection insurance customers with single premium policies will be eligible for refunds whether they are new or existing customers.

  • Apply TCF approach to buy-to-let deals

    2 Apr 2007

    Last month, the Council of Mortgage Lenders issued its statistics pack for 2006 relating to buy-to-let. For brokers doing buy-to-let mortgages it was doubtless gratifying to note that outstandings at the end of 2006 represented close to 9% of the market, large enough to be meaningful.

  • AToM appoints two RDMs

    2 Apr 2007

    All Types of Mortgagess has appointed two regional development managers for the Welsh regions.

  • Average Council Tax bills to rise

    2 Apr 2007

    The average Council Tax per dwelling for 2007/08 will be £1,101 - an increase of 4.3% from 2005/06. For London, the average Tax will be £1,258. If it were not for the precept applied in London to finance the Olympics, the average Council Tax increase would be 4.2%.

  • Balancing innovation and service

    2 Apr 2007

    In our pursuit of profitability we must always strive to innovate but never lose sight of the most important goal of creating better products and services for clients, says Sally Laker

  • Bankruptcies will boost bridging finance, says Affirmative

    3 Apr 2007

    Increasing levels of bankruptcies – both individual and corporate – is bringing a marked rise in the use of bridging finance, says Affirmative.

  • BDM of the week

    2 Apr 2007

    Name: Lucy Stamford

  • Be prepared to handle HIP enquiries

    2 Apr 2007

    The development of Home Information Packs has cost taxpayers more than 11m in admin-istration, legal and consultation fees so far. What's more, this figure is expected to rise to approximately 16m by the time HIPs go live on June 1.

  • Beacons appoints three new BDMs

    3 Apr 2007

    Beacon Homeloans has appointed three new business development managers.

  • BM Solutions raises awareness of Tenancy Deposit Protection

    4 Apr 2007

    BM Solutions has called on the industry to play its part in making landlords and tenants aware of Tenancy Deposit Protection, which launches this Friday.

  • BM Solutions unveils B2L deals

    2 Apr 2007

    BM Solutions has launched deals in its buy-to-let range including a two-year tracker at base plus 0.04% at 110% rental income cover. Other products include a 5.39% rate fixed until May 1 2009.

  • Borrowers want to cut their terms

    2 Apr 2007

    Intelligent Finance says almost three-quarters of borrowers want to reduce their mortgage terms or increase their payments to reduce their balance. For nearly a third of people, paying off their mortgage is their biggest financial concern.

  • Brits resent paying Inheritance Tax

    2 Apr 2007

    UK taxpayers spend more on Inheritance Tax payments than any other tax meaning the death duty is their second most resented tax, according to Unbiased.co. uk. The overall amount of IHT payments totalled £3.5bn last year.

  • Broker service is having to take a back seat at C&G

    2 Apr 2007

    After reading the numerous letters written about the service given by local Cheltenham & Gloucester branches, I felt compelled to write.

  • Brokers can broaden their horizons

    2 Apr 2007

    Intermediaries helping clients buy property overseas should do their homework or be prepared to immerse themselves in a long and complicated process, says Tim Harvey

  • Brokers don't have to suffer from phone rage

    2 Apr 2007

    I don't know if it's legal to be this angry but if it's not then at least virtually every other person in the UK is also guilty. I'm talking about the particular anger that comes when we are lied to, patronised and inconvenienced all at the same time.

  • Brokers go cool on overseas B2L

    2 Apr 2007

    Brokers are losing faith in the business potential of the overseas rental market, research from BM Solutions reveals.

  • Brokers urged to help cut non-disclosure

    2 Apr 2007

    Legal & General is urging brokers to work with it to ensure clients supply their full medical histories when applying for critical illness cover.

  • Call for more lender leniency on consent

    2 Apr 2007

    Secured loan lenders are calling on mortgage lenders to be more lenient when it comes to giving consent.

  • Changes won't affect brokers, pledges Abbey

    2 Apr 2007

    Abbey has reassured intermediaries that it will maintain its decentralised underwriting service despite changes to its branch-based operations.

  • CHL extends its self-cert limits

    2 Apr 2007

    CHL Mortgages has increased its maximum self-cert lending limits for self-employed people.

  • Citigroup denies job cull claims

    2 Apr 2007

    Citigroup, parent of Future Mortgages and Egg, has denied claims that it is to cut up to 15,000 jobs in an impending restructure. It is rumoured that increased costs could mean mass relocation or redundancy of staff in its US and offices around the world.

  • Clearing up confusion about the FSA's attitude to AVMs

    2 Apr 2007

    This letter is prompted by the huge number of enquiries we have had at UKValuation regarding the recent Financial Services Authority guidance note on the use of automated valuation models.

  • Client satisfaction site launched

    4 Apr 2007

    A website has been launched to allow advisers to monitor their customers satisfaction and ensure all aspects of treating customers fairly is applied.

  • CNLIS appoints Briscoe to board

    2 Apr 2007

    The Council for the National Land Information Service has appointed Sir Brian Briscoe to its board of directors. Briscoe was previously the chief executive of the Local Government Association.

  • Confused FSA guidance angers AVM providers

    2 Apr 2007

    Automated valuation model providers have slammed the Financial Services Authority for creating confusion over AVM regulations and casting doubt on the future of instant mortgage offers.

  • Conti keeps mum on suitors' identities

    2 Apr 2007

    Conti Financial has confirmed that it is in discussion with potential buyers but has declined to name names.

  • Council Tax guru to chair BBC

    5 Apr 2007

    Sir Michael Lyons, who last month published an inquiry for Council Tax rebanding, has been named the new BBC chairman.

  • CurriculumVitae: Mark Tiley

    2 Apr 2007

    "Flying a three-metre kite in extreme winds has to be the craziest thing I've done."

  • Datamonitor reveals upsurge in consumers banking online

    5 Apr 2007

    A new report from market analyst Datamonitor has revealed that the number of consumers banking online in Europe has grown by almost two-thirds, from 39 million in 2002 to 63 million in 2005.

  • Dated price comparisons breed fear, says Knight

    2 Apr 2007

    The practice of comparing house prices with single incomes is outdated and harming the housing market, warns Stephen Knight, executive chairman of GMAC-RFC.

  • DCLG defends its low cost home ownership schemes

    2 Apr 2007

    The Department for Communities and Local Government has defended its approach to low cost home ownership assistance, which has come under attack from the government's Committee of Public Accounts.

  • Dear Delia

    2 Apr 2007

    Dear Delia, My client has two buy-to-let properties, one mortgaged for 120,000 (worth 190,000) and one mortgaged for 140,000 (worth 210,000). He is not happy with his existing products which he thinks are uncompetitive. One is a base rate plus 0.74% tracker and the other a base plus 0.99% tracker. He is beyond early repayment charges on both. What are the best rates you can suggest for both tracker and fixed rate mortgages?

  • Debtors who flee the country can now be tracked down

    2 Apr 2007

    Transcom has linked up with Arrow Global to buy portfolios of European debt and track down debt absconders who flee the UK.

  • Distribution choice is good for brokers

    2 Apr 2007

    Before starting on this piece, I'd better explain some jargon. Open distribution refers to distributors or clubs for directly authorised brokers who can use whichever club route they want, when they want and take responsibility with the Financial Services Authority.

  • Don't let your advice pass its sell-by date

    2 Apr 2007

    If you were selling perishable commodities, how careful would you be with the management, storage and sales of such products? I reckon very.

  • Dorset bungalow to fetch millions

    3 Apr 2007

    A dilapidated bungalow in Dorset has been put on the market for 4m - because it comes with planning permission to demolish the property and build a luxury six-bedroom pad on the site.

  • Easier2Move to host HIP seminars

    2 Apr 2007

    Easier2Move is to host free Home Information Pack seminars for IFAs.

  • Ecology calls for transparent best buy tables

    5 Apr 2007

    The Ecology has urged the Financial Services Authority to make sure that best buy tables reflect the true cost of mortgages.

  • Edeus poised to launch fixed rate product range

    2 Apr 2007

    Edeus has revealed it is launching a fixed rate range in anticipation of another base rate rise soon.

  • Em- launches Spectrum deals

    2 Apr 2007

    Em–financial has launched two additional deals on all heavy and unlimited products from the Spectrum range.

  • EMoneyfacts adopts MTE

    2 Apr 2007

    eMoneyfacts is upgrading its broker sourcing system with the Mortgage Trading Exchange and is due to go live in May.

  • Energy-assessors says UK is ready for HIPs

    2 Apr 2007

    Energy-assessors.com has predicted that there will be more than enough operatives to make sure Energy Performance Certificates will be up and running on June 1.

  • Enterprise offers free legals via EDGE

    2 Apr 2007

    Enterprise Group is offering free valuations and free legals for all products sourced through its EDGE sourcing system.

  • Estate agents unprepared for HIPs

    3 Apr 2007

    Innovative Group Services has found that 67% of estate agents are not prepared for the introduction of mandatory Home Information Packs in June. David Collett, chairman of the FE4 Group, the parent company of Innovative Group, says: “We’re finding a number of different levels of risk in the lack of preparations made by estate agents - from those who are aware of how they will deal with the practicalities of collating their HIP and simply have not thought through how they will fund ...

  • Exams have changed with the times

    2 Apr 2007

    In the 10 years since CeMAP was introduced, 150,000 advisers have taken the qualification which has evolved with the market and the advent of the digital age, says Mark Roberts

  • Ex-SPML dream team in second charge rumour

    2 Apr 2007

    The ex-SPML dream team's new lender is to be backed by a US bank and will launch with a second charge offering in September, sources claim.

  • Family wins eco-friendly award from N&P

    2 Apr 2007

    A family from East Sussex with eight children has scooped an award for their environmentally-friendly home and a cheque for £5,000 from Norwich and Peterborough.

  • Finding hidden benefits in the Budget

    2 Apr 2007

    The Budget is an all-encompassing beast that dominates the country's hearts and minds whatever the political climate. Yet chancellor Gordon Brown's latest one has drawn even more attention because it is likely to be his last and we were all taken by surprise by the Income Tax cut from 22p to 20p. And he's not the only one thinking about his political legacy.

  • Freedom launches self-cert with Freehold

    4 Apr 2007

    Freedom Lending has launched a three-year self-cert tracker mortgage, which is available exclusively via members of Freehold.

  • Freedom unveils self-cert tracker

    2 Apr 2007

    Freedom Lending has launched a two-year self-cert tracker exclusively via members of the Alliance of Mortgage Packagers and Distributors. It is priced at base rate plus 0.18% to 85% LTV or base plus 0.38% to 90% LTV. There are optional free legals on remortgages.

  • Friends Provident in GI clarification

    2 Apr 2007

    In the March 26 issue Mortgage Strategy we reported that Friends Provident's targets for new business growth could be endangered by a challenging mortgage payment protection insurance market. Friends Provident would like to point out that it is a life and pensions company that does not offer general insurance products such as MPPI. The protection products it provides are term assurance, critical illness cover and income protection benefit.

  • FSA gears up for equity release regulation

    5 Apr 2007

    The Financial Services Authority will be rolling out regulation of the equity release market tomorrow.

  • GE Life confirms name as Tomorrow

    5 Apr 2007

    GE Life has confirmed it has changed its name to Tomorrow, which it is adopting with immediate effect.

  • GE Life has rebranded as Tomorrow

    4 Apr 2007

    Equity release provider GE Life has refused to confirm or deny whether its new name is Tomorrow.

  • Get to grips with affordability

    2 Apr 2007

    Lenders are turning away from using income multiples towards complex affordability calculations which means greater accuracy and better risk control for them, but more work for brokers, says Christine Toner

  • GMAC-RFC case is on FSA radar

    2 Apr 2007

    The Financial Services Authority says the case of a 71 year old pensioner who was left homeless after taking out a mortgage he could not afford is on its radar.

  • GMAC-RFC sells portfolios to Oakwood for 923m

    3 Apr 2007

    GMAC-RFC has sold three portfolios to Oakwood Homeloans, totalling 923m.

  • Guard against compliance fatigue

    2 Apr 2007

    There is a danger that brokers may become complacent about regulation so they should take note of a recent speech that summarises the FSA's basic ideas, says Bill Warren

  • Halifax joins GI panel

    2 Apr 2007

    Halifax General Insurance has been appointed to the general insurance panel of Network Data.

  • Halifax recovers stolen briefcase

    2 Apr 2007

    A briefcase stolen from a Halifax employee containing mortgage account details of 13,000 customers was recovered last week.

  • HBOS plans Xmas savings account

    2 Apr 2007

    HBOS is to launch a Christmas savings account for low income households in May, just six months after it found itself at the centre of the Farepak scandal.

  • HBOS pledges to be carbon neutral before 2008

    2 Apr 2007

    HBOS says it will be carbon neutral by the end of the year.

  • Heritable extends introductory offer

    2 Apr 2007

    Heritable Bank has extended its residential mortgages introductory fee offer by a month to April 30 following feedback from advisers. The extension also applies to applications falling outside standard criteria.

  • HIP deadline changes again

    2 Apr 2007

    The government has changed the deadline by which house sellers must have Home Information Packs if their properties are on the market before June 1 this year in a third successive amendment to the HIP regulations.

  • HIP HIP Hooray.com appoints HCR expert

    2 Apr 2007

    HIP HIP Hooray.com has appointed Home Information Pack specialist Lesley Sorridimi to join its team.

  • HIPs go public

    2 Apr 2007

    Last week, the government laun-ched its consumer advertising campaign to raise awareness of Home Information Packs prior to their implementation on June 1.

  • Home reversion plans to quadruple after regulation

    2 Apr 2007

    Home & Capital believes that the new regulatory regime will lead to an expansion in home reversion plans from the current 5% of the equity release market to around 20% over the next few years.

  • House price rises slowed in March

    2 Apr 2007

    House price inflation slowed to 9.3% in March, figures from Nationwide reveal.

  • How do you think this year's Budget will affect your finances?

    2 Apr 2007

    The ommission of Stamp Duty changes from Gordon Brown's Budget went down like a lead balloon with the mortgage industry, and his token gesture of raising the Inheritance Tax threshold was little consolation. He cut Income Tax by 2% but his decision to scrap the lower 10p tax rate left a bitter taste.So this week Mortgage Strategy asks...How do you think this year's Budget will affect your finances?

  • ifs urges advisors to get qualified in equity release

    5 Apr 2007

    The IFS School of Finance has highlighted the need for advisors to get qualified in equity release, in light of the new regulatory regime.

  • Instant B2L offers are imminent

    2 Apr 2007

    Point-of-sale offers on buy-to-let mortgages are just around the corner, according to automated valuation model providers.

  • Interest rates frozen at 5.25%

    5 Apr 2007

    The Bank of England has voted to freeze interest rates at 5.25% in April.

  • Is it a conflict of interest when lenders offer some products via brokers and some in their branches?

    2 Apr 2007

    There is no definitive answer but lenders should let brokers know if they are operating differential pricing policies, say our experts

  • KRS reveals mortgage time-bomb

    4 Apr 2007

    Key Retirement Solutions warns UK pensioners are heading towards a 98bn mortgage debt time-bomb in retirement.

  • L&C makes environmental pledge

    2 Apr 2007

    London & Country is pledging to plant 50 trees for every new mortgage taken out by its clients in 2007 enough to offset a persons carbon emissions for the year.

  • Landlords favour buy-to-let, says Mortgage Trust

    4 Apr 2007

    Three quarters of new landlords choose to invest in buy-to-let because they expect better returns than they would achieve from other investments, reveals the latest research from Mortgage Trust. Evidence that landlords have more confidence in the returns achievable in buy-to-let than other forms of investment is revealed by the gearing of their portfolios. The research revealed that on average, 63% of a landlord’s investment portfolio is made up of property.

  • Learning to challenge Labour's plans

    2 Apr 2007

    This year's Budget finally killed off pension term assurance less than a year after its introduction. The questions now are - what about existing PTA customers and what lessons can we learn?

  • Learning to live with uncertainty

    2 Apr 2007

    Lenders are taken to task over their affordability calculators in our cover story this week. We ask the million-dollar questions - why are lenders reluctant to divulge the formulae underlying their affordability calculators and do brokers need this transparency?

  • Leeds lanches 100% LTV three-year fixeds

    3 Apr 2007

    Leeds has launched a range of three-year fixed rate mortgages available up to 100% LTV together with fee free options.

  • Lehman Brothers makes secured loans appointment

    2 Apr 2007

    Tom Atkins has been appointed head of lending operations secured loans for both of the secured lending brands in the Mortgage Capital businesses, London Personal Loans and Southern Pacific Personal Loans.

  • Lender fees complicate brokers' jobs

    2 Apr 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

  • Long and short of it for fixed rates

    2 Apr 2007

    Last week, I looked at the prevailing popularity of fixed rate deals in the market and we have recently seen the launch of a product from Nationwide that has been the focus of some attention in this regard.

  • Lyons' meat is too rich for ministers

    2 Apr 2007

    'New Council Tax horrors sneaked through' or 'Home tax will help the poor' - which recent headline writer was right? Well, neither.

  • Marketwatch

    2 Apr 2007

    Sadly, swaps rose for the second week in a row so the prospect of cheaper fixed rates is slipping away. It's been quiet on the rate front for several months. We've seen the occasional tweak up and down but nothing major.

  • Me & My Car

    2 Apr 2007

    My new-style Mini is charismatic, practical and a worthy representative of a noble line, but my son likes it a bit too much and won't cough up for his own, says Paul Marks

  • Merger will create UK's biggest house builder

    2 Apr 2007

    House builders George Wimpey and Taylor Woodrow are to merge to become Taylor Wimpey, the UK's biggest property developer.

  • MI launches offset exclusive with IF

    2 Apr 2007

    Mortgage Intelligence is offering an exclusive two-year offset tracker for its members with Intelligent Finance

  • Misguided TV guru wreaks havoc

    2 Apr 2007

    In half an hour, Martin Lewis has undone years of good work by hard-working brokers in helping advance the case for safe equity release products, says Sue Read

  • MoneyQuest down under

    2 Apr 2007

    MoneyQuest has expanded into Australia despite its struggling housing market.

  • Monthly lending fell in February

    2 Apr 2007

    Monthly gross mortgage lending fell in February but was up 7% on the same period last year, analysis by the British Bankers' Association reveals. Lending stood at £14.9bn, well down on the £16.6bn seen in January.

  • More singletons enter the property investment fray

    2 Apr 2007

    BM Solutions says the demographic profile of property investors is changing, with singletons increasingly regarding property as a shrewd investment.

  • Mortgage club recommends Evaluate

    2 Apr 2007

    Mortgage Promotions has agreed to recommend Primrose's technology platform Evaluate to its members.

  • Mortgage Next frees ARs from onerous contracts if they want to change networks

    2 Apr 2007

    The record needs to be set straight about what Mortgage Next is doing regarding the payment of disturbance allowances to appointed representatives joining our network.

  • MortgageMatch expands B2L range with BM Solutions

    3 Apr 2007

    MortgageMatch Home Loans has launched two buy-to-let trackers with BM Solutions.

  • MT launches website design service for ARs

    2 Apr 2007

    The Mortgage Times Group has launched a website design service offering brokers the chance to design their own company websites.

  • MTE to be revamped for packagers

    2 Apr 2007

    Mortgage Brain and the Mortgage Trading Ex-change have developed a packager proposition to answer critics who feel the system does not cater fully to the packager community.

  • My local C&G branch has always given great service

    2 Apr 2007

    I can't help but notice the slating C&G is getting recently in the trade press regarding its service levels.

  • My Mortgage Day

    2 Apr 2007

    The facts: I am 14 years old. Mortgages mean nothing to me. I'm on the train to London to shadow my mum at work as part of 'Bring your Daughter to Work Day'. My mum works at Rooftop Mortgages. It's going to be a long day…

  • My point about employed self-cert was misunderstood

    2 Apr 2007

    Andrew Gerber's letter (Mortgage Strategy March 19) is the kind of sulky response I'd expect from a lender that does not understand the point I was trying to make regarding employed self-cert mortgages.

  • Nationwide launches 25-year fixed deal

    2 Apr 2007

    Nationwide has launched a 25-year fixed rate mortgage in response to consumer demand for longer term fixes.

  • NatWest International joins AIPP

    3 Apr 2007

    NatWest International has become the first bank to become a member of the Association of International Property Professionals.

  • Network Data named top company for investors

    2 Apr 2007

    Network Data has been picked by AIM Bulletin, the Alternative Investment Market magazine, as the top company to invest in.

  • Nobody seems to want to assist first-timers

    2 Apr 2007

    Gordon Brown's final Budget did nothing to help first-time buyers - unless they can find a carbon-neutral home which are few and far between in the UK.

  • NR reports strong Q1 results

    2 Apr 2007

    Northern Rock has reported a 34% increase in total net lending in the first three months of 2007 than the same period last year.

  • OFT gives stamp of approval to estate agents

    2 Apr 2007

    The Office of Fair Trading has urged home buyers to look out for its logo when choosing an estate agent.

  • One in eight mortgages goes through packagers

    4 Apr 2007

    Intermediaries now submit one in eight of all mortgage business to packagers, reveals a survey by the Intermediary Mortgage Lenders Association,

  • Only in graduate recruitment drive

    2 Apr 2007

    The Only Group is to recruit 200 staff by the end of the year from the graduate and young professional markets. Posts to fill include mortgage and loans advisers and customer services staff.

  • Optoma offers legal incentives with Kensington

    3 Apr 2007

    Optoma is offering a legal incentive across the Kensington Mortgages adverse range.

  • Optoma sponsors Superbike Championship

    5 Apr 2007

    Optoma has teamed up with Virgin Media to sponsor the British Superbike Championship which starts this weekend.

  • Optoma unveils DB exclusives

    2 Apr 2007

    Optoma is to release exclusives with free valuations and free legals on DB Mortgages' product range. The incentives are being released alongside reduced rates for members of the Intrinsic network.

  • Over a million pensioners need home renovation

    2 Apr 2007

    Around 1.2 million pensioners are living in properties in need of renovation or in poor decorative order, says Economic Lifestyle. The equity release provider says that the average cost for repairs is almost 5,000, with the result that around 240,000 pensioners not being able to afford the work.

  • Over half UK wealth is in homes

    4 Apr 2007

    Prudential has revealed that 55% of all the wealth in the UK is tied up in homes.

  • Packager Power

    2 Apr 2007

    What is the priority for packagers when recommending a particular product?

  • Paragon in £1.5bn securitisation

    2 Apr 2007

    Paragon Group has achieved record pricing on its latest securitisation of £1.5bn. It is backed by prime buy-to-let mortgages and brings the group's total issuance to £18.5bn.

  • Pearson to replace Marsh at RBS

    4 Apr 2007

    Royal Bank of Scotland has confirmed that Chris Pearson, the former sales and marketing director at BM Solutions, will be replacing Caroline Marsh as director of intermediary mortgages from May 1.

  • Persimmon unveils deal

    2 Apr 2007

    Persimmon Homes has launched a mortgage product, the Persimmon Capital Plan, that enables purchasers to borrow up to 97% LTV with the loan split into two portions. The first is a conventional mortgage on a three-year fixed rate which is available as a capital repayment or interest-only loan and the second is classed as a residential ownership loan, charged at a fixed rate of 2.99% for the entire term.

  • Personal debt in February hits £1,310bn

    2 Apr 2007

    Total UK personal debt at the end of February 2007 stood at £1,310bn, figures from credit action reveal.

  • Pink adds Victoria to its panel

    2 Apr 2007

    Pink Home Loans has added Victoria Mortgages Funding to its packaging panel.

  • Pink extends campaign

    5 Apr 2007

    Pink Home Loans has extended the dates of its secured loan campaign.

  • Pink launches fees free IF deal

    5 Apr 2007

    Pink Home Loans has launched an exclusive fees-free remortgage deal from Intelligent Finance.

  • Pink tips 300 ARs

    4 Apr 2007

    Pink Home Loans has revealed that its appointed representative numbers have exceeded the 300 mark.

  • Platform appoints head of IT

    3 Apr 2007

    Platform has appointed of Mike Gannon to the post of director of IT.

  • PMPA extends end dates

    2 Apr 2007

    The Professional Mortgage Packagers Alliance has extended end dates for its 350 cashback to customers on Preferreds two & three year fixed rates, available exclusively through PMPA member firms.

  • Politicians clash on housing

    2 Apr 2007

    A bitter war of words has broken out between rival housing ministers Yvette Cooper and Michael Gove over housing stock and first-time buyers.

  • Popular innovations are few and far between

    2 Apr 2007

    Throughout the history of mortgages there have not been too many innovations which, with the benefit of hindsight, could be considered ground-breaking - or perhaps more accurately, both ground-breaking and popular.

  • Praxis adds TMW to panel

    3 Apr 2007

    Praxis has added The Mortgage Works to its lender panel.

  • Promise unveils underwriting arm

    2 Apr 2007

    Promise Finance has launched Promise Solutions Network, an underwriting solution aimed at brokers. It features Promise Quote, an automated online underwriting system.

  • Quest launches EPCs via mobile phones

    2 Apr 2007

    Quest Associates has launched Q-Mobile EPC, a system that enables domestic energy assessors and home inspectors to complete a full Energy Performance Certificate via WAP-enabled mobile phones.

  • Rate rises boost fixed rates

    2 Apr 2007

    Three base rate hikes within six months have unsettled home owners, says Fool.co.uk. It says owners believe more rate rises are on the horizon and almost eight out of 10 borrowers now opt for fixed rates.

  • Regulator intends to stick to its principles

    2 Apr 2007

    For many months, we have talked about the Financial Services Authority's intention to move towards a more principles-based regulatory regime and what the implications of this might be for intermediary firms.

  • Repossessions could be good for B2L

    2 Apr 2007

    Repossession figures are on the rise. The Council of Mortgage Lenders says that in the second half of 2006, repossessions increased by 9% totalling 8,860 - up from 8,140 in the first six months of the year. This increase has been blamed on higher interest rates.

  • Retirement Plus to be authorised

    2 Apr 2007

    From April 6 this year, Retirement Plus will be authorised by the Financial Services Authority. It will be regulated as a provider, arranger and administrator of home reversion plans.

  • Rightmove ads target London

    2 Apr 2007

    Rightmove has launched an advertising campaign aimed at home movers buying, selling and renting in London. The campaign involves promotions on radio stations and billboards.

  • Rightmove offers a tasty prize

    2 Apr 2007

    Rightmove and McDonald's are teaming up to offer a prize of a £240,000 house as part of the Bigger Win Monopoly promotion. The prize is won by collecting the Park Lane and Mayfair property game stickers hidden among thousands given away with selected McDonald's food purchases.

  • Rightmove sees revenue grow

    2 Apr 2007

    Rightmove has announced revenue growth of 85% from £18.2m to £33.6m for its first full year after flotation. Use of its website was up more than 80% over 2005 and advertiser membership increased by 42%.

  • Rumours of US housing crash don't bother brokers

    2 Apr 2007

    Recent wobbles in the US sub-prime market have left UK brokers unperturbed. A massive 76% of Mortgage Strategy Online readers say they are not concerned about rumours of a possible housing market crash in the US, while only 24% are worried.

  • Shadow MPC

    2 Apr 2007

    The first Mortgage Strategy GE Money Home Lending Shadow Monetary Policy Committee met last week. Each month, our hand-picked panel of industry experts will discuss the market factors they think will influence the Bank of England's base rate decision. Will it go up or down or stay the same? Read on...THIS MONTH'S DECISION: HOLD.

  • Shared equity sector needs competition

    2 Apr 2007

    This was the year we expected Stamp Duty thresholds to be changed in the Budget. At least it was expected that the tax would be abolished for first-time buyers.

  • Signature offers virtual broking

    2 Apr 2007

    Signature Group has launched an online virtual advice service aimed at home buyers needing on-the-spot advice.

  • Sims makes a Swift move

    2 Apr 2007

    Martin Sims has quit his position as head of sales development and project management at Kensington Mortgages to join the Swift Group. He will develop Swift's sector-specific sales teams.

  • Societies step closer to a revolution in funding

    2 Apr 2007

    MPs have backed a Private Members' Bill that could revoluntionise the way societies are funded.

  • Some final thoughts before regulation

    2 Apr 2007

    This week, it would be inappropriate not to return to the subject of home reversion regulation, which arrives on April 6.

  • Standard Life extends professional mortgage range

    2 Apr 2007

    Standard Life Bank is extending its Freestyle professional mortgage range, launching a new two-year fixed rate mortgage with the option of offsetting.

  • Stick to EU destinations, says Rightmove Overseas

    2 Apr 2007

    Less well established markets offer better potential returns but are more risky, warns Rightmove Overseas.

  • Strategy's Shadow MPC will debate base rate moves

    2 Apr 2007

    Mortgage Strategy has brought together top industry experts to form a Shadow Monetary Policy Committee to vote on interest rate changes.

  • Sue Read overstates the cost of the advanced CeMAP exam

    2 Apr 2007

    In the article 'Hobson's choice on broker exams' by Sue Read (Mortgage Strategy March 12), she states that "a colleague told me the other day that to get an advanced CeMAP qualification one needs to spend about 2,000 on exam fees and special guides".

  • Sunny prospects

    2 Apr 2007

    Buying property abroad is increasingly popular so brokers should develop strong ties with relevant third parties to help their adventurous clients, says Nia Jones

  • Surveyor to train with Rooney

    2 Apr 2007

    A chartered surveyor has won the chance to train with Wayne Rooney and other members of the England squad. Richard Ingham, of Thomas Davidson, won the raffle prize at a celebrity poker evening hosted by Vinnie Jones.

  • Surveyors in rescue drama

    2 Apr 2007

    Two fearless chartered surveyors braved rapids to save a drowning man from being swept over a 30ft waterfall while on a fundraising adventure in Malawi.

  • TBMC unveils buy-to-let fix at 4.65%

    2 Apr 2007

    The Business Mortgage Company has launched a buy-to-let fixed mortgage with an initial rate of 4.65%.

  • Thanks to TMB for good service and common sense

    2 Apr 2007

    So, there is a lender that listens. I would like to take what I assume is an unusual stance in the broker market and thank a lender for its helpful app-roach to a case.

  • The FSA should look at how Cheshire is doing business

    2 Apr 2007

    I am gravely concerned about the future of Cheshire. It has been in financial difficulties and for the past three months or so any new business I send it disappeared into a black hole.

  • The Money Portal buys into TPIM

    2 Apr 2007

    The Money Portal has acquired a 7.8% stake in The Property Investment Market. TPIM is an internet-based exchange which allows private investors to buy and sell shares in individual residential properties.

  • The Mortgage Mole

    2 Apr 2007

    Sweet

  • The old guy could have the last laugh

    2 Apr 2007

    There are several ways to look at the shocking news that a 102 year old man has been given a 25-year mortgage.

  • The price is not right on 25-year deal

    2 Apr 2007

    Borrowers' statements from Nationwide could make tough reading next year if they take out its well publicised long-term deal any time soon, says Drew Wotherspoon

  • Thinc adds Britannia to panel

    3 Apr 2007

    Thinc Group has added Britannia to its panel of lenders. This arrangement makes Thinc Group the only mortgage intermediary with Britannia on its lending panel.

  • This Week's Dilemma

    2 Apr 2007

    I am a mortgage broker who is looking into the possibility of becoming a satellite packager. I particularly like the fact that such a move may bring me technological benefits and more autonomy but I worry that I don't know enough about satellite status to fully understand the effect it will have on my business and I don't want to make the wrong decision. Can you give me an idea of hwat I should look out for and what issues I should consider so I can make and informed decision?

  • Title Deed: Baseline Capital

    2 Apr 2007

    What's in a name? Quite a lot, especially when you're trying to stay in the wife's good books.

  • TMW embraces packagers

    2 Apr 2007

    The Mortgage Works is changing its distribution strategy so that its sub-prime pro-position will only be available through packagers.

  • Trail commission lobby seems to expect money for nothing

    2 Apr 2007

    I have been following the saga concerning Paymentshield with interest and would like to add my own observations to the mix.

  • TV programme gave distorted picture of equity release

    2 Apr 2007

    The Tonight with Trevor McDonald TV programme on equity release aired on March 19 confirmed that despite the excellent progress made by the equity release industry in the past 10 years or so, we still have a long way to go to improve the industry's reputation.

  • Two lenders under fire for snubbing packagers

    2 Apr 2007

    Royal Bank of Scotland and Coventry have come under fire for rejecting the packaging market.

  • Two-year fix from Scarborough

    2 Apr 2007

    Scarborough has launched a two-year fixed rate deal with a rate of 4.94% until May 30 2009. It is available for both purchases and remortgages, with the latter benefiting from the society's free legals package.

  • UCB Homeloans cuts fixed rates

    2 Apr 2007

    UCB Homeloans has cut 0.15% from its residential self-cert and full status fixed rate deals. In the self-cert range, its two-year flexible fixed deal will be available at 5.84%, its three-year flexible fix at 5.79% and its five-year flexible fix at 5.74%. For full status, its two-year flexible fix is now 5.74% and its three-year flexible fix is 5.69%.

  • UK is second best country for B2L

    2 Apr 2007

    The UK is the second most profitable country for buy-to-let investors, Assetz's property investment tracker shows. Poland is in first place with a total 165% return on cash investment followed by the UK with 63%, Bulgaria with 54% and France with 51%.

  • Unity launches B2L range

    2 Apr 2007

    Unity Homeloans has launched a near prime and light adverse buy-to-let range.

  • US storm need not rock the UK boat

    2 Apr 2007

    The recent problems in the US have been pushed off the agenda for now. The shocks of the past few weeks took US markets by surprise, the news being that in Q4 2006, the US Mortgage Bankers Association reported that foreclosures were at their highest rate since it started reporting the numbers 37 years ago.

  • US sub-prime will get worse, says CML

    3 Apr 2007

    The US sub-prime market is likely to get worse before it gets better, says the Council of Mortgage Lenders’ chief economist Jim Cunningham.

  • Watch your step when sourcing bridging loans

    2 Apr 2007

    We constantly read in the trade press that bridging finance (or 'short-term funding' or 'express short-term funding' or my personal favourite 'quick short-term solution finance') is a growing area, but nobody is highlighting the care that needs to be taken with these deals.

  • Website will help brokers play fair

    2 Apr 2007

    Although the deadline has passed, brokers can still find practical guidance on meeting the regulator's TCF requirements on a centralised industry website, says Frank Eve

  • You should put a footprint on some contributors' emissions

    2 Apr 2007

    As much as I enjoy reading and contributing to the letters pages of Mortgage Strategy, I must take you to task on your abject failure to take into account the environmental implications of the section.

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