Mortgage Strategy
2 June 2008

  • Less is more

    4 Jun 2008

  • AXA slashes cover premiums

    2 Jun 2008

    AXA has cut the premiums on its life protection deals by up to 9%.

  • Cheshire joins AMPD panel

    2 Jun 2008

    The Alliance of Mortgage Packagers and Distributors has added Cheshire Mortgages to its lender panel.

  • Pink launches B2L exclusive

    2 Jun 2008

    Pink Home Loans has unveiled an exclusive buy-to-let deal funded by Bank of Ireland Mortgages. The deal is available to appointed representatives of Pink and BDS Mortgage Group and is fixed at 6.29% until July 31 2011. It is available up to 75% LTV and carries no higher lending charge.

  • Warren sets up consultancy firm

    2 Jun 2008

    Bill Warren, former director of the Regulatory Alliance of Mortgage Packagers, has launched Bill Warren Compliance, a consultancy that will provide compliance support for financial services organisations.

  • Wider access to AfI exclusives

    2 Jun 2008

    Abbey for Intermediaries is allowing more brokers access to its exclusive products and raising the LTVs on these deals. An additional seven mortgage partners have been given access to the exclusives including Mortgage Intelligence, Network Data, Openwork, Personal Touch Financial Services, Pink Home Loans, Premier Mortgage Service and Sesame. Exclusives are now available up to 60% LTV.

  • Necessity it is the mother of invention

    3 Jun 2008

    They say that it is only during times of adversity that we show our true mettle and nothing could be closer to the truth to describe the current situation in the market as anything less than a difficult time.

  • 15,000 estate agents set to lose jobs

    6 Jun 2008

    The Centre for Economics and Business Research says 15,000 estate agents are likely to lose their jobs as a result of the housing downturn.

  • 1M mortgages may disappear

    2 Jun 2008

    Mortgage deals for more than 1m face extinction, wealth manager HFM Columbus warns.The firm says that while a number of lenders offer loans of up to 1m, above this figure they are few and far between.

  • A plan to save us from 1970s hell

    2 Jun 2008

    Another week goes by and Mortgage Strategy is sad to report yet another once-successful business fall-ing by the wayside.

  • A&L withdraws SVR for new customers

    3 Jun 2008

    Alliance & Leicester is withdrawing its SVR as a standalone mortgage to new customers.

  • Adair Turner to take over at the FSA

    3 Jun 2008

    Lord Adair Turner is to be the next chairman of the Financial Services Authority and will be taking up his five-year appointment in September when Sir Callum McCarthy steps down.

  • AFB board nominations open

    6 Jun 2008

    Nominations opened today for three positions to the Board of the Association of Finance Brokers.

  • AFB board nominations open today

    6 Jun 2008

    Nominations for three positions on the board of the Association of Finance Brokers open today.

  • AFB concerned over aspects of CC PPI findings

    5 Jun 2008

    The Association of Finance Brokers believes that the findings from the Competition Commission reflect the messages that the AFB has been delivering to the industry for some time.

  • AfI funds Pink fixed rate exclusive

    2 Jun 2008

    Pink Home Loans is offering a residential fixed rate deal funded by Abbey for Intermediaries.

  • AMI says MPPI has improved

    6 Jun 2008

    Mortgage Payment Protection Insurance has improved says the Association of Mortgage Intermediaries, despite a report suggesting PPI customers had been over charged by £1.4bn a year.

  • Appetite for five-year fixed deals rises

    6 Jun 2008

    Consumers' appetite for five-year fixed rate deals is rising, reveals Abbey.

  • Attempt to airbrush brokers from market history will fail

    2 Jun 2008

    Has Rebecca Atkinson been carving out a career on the side at Heat magazine?

  • AXA expands large case team to protection products

    5 Jun 2008

    AXA has unveiled plans to expand its large case team to protection products.

  • B&B increases mortgage rates for new borrowers

    6 Jun 2008

    Bradford & Bingley has increased its mortgage rates by up to 0.55%, for new borrowers, from today.

  • B&B losses highlight problems facing the economy - Cable

    3 Jun 2008

    Commenting on Bradford & Bingley’s announcement of losses in the first quarter of 2008, Liberal Democrat shadow chancellor, Vince Cable said: “This is further worrying evidence of the serious problems the UK economy now faces.

  • B&B losses reveal shaky market confidence

    2 Jun 2008

    Bradford & Bingley’s warning of missed profit expectations demonstrates just how shaky confidence is in the UK financial sector, say the Liberal Democrats.

  • B&C insurance could pay for brokers

    2 Jun 2008

    Brokers could add a whopping 54,000 to their income over five years by helping clients get building and contents cover.

  • B&W cuts maximum LTV on SVR products

    6 Jun 2008

    Bristol & West is pulling all SVR loans above 90% LTV with immediate effect.

  • Base Commercial says no to a rate cut

    4 Jun 2008

    Base Commercial Mortgages says that the country needs a restoration of economic stability and confidence more than it needs a rate cut.

  • BBA supports OFTs' IVA clamp down

    6 Jun 2008

    The British Bankers’ Association has welcomed moves by the Office of Fair Trading to warn people about the risks of signing up to unsolicited and inappropriate debt advice.

  • BDS remains committed to satellite packagers

    5 Jun 2008

    BDS says it is still committed to the satellite packaging sector and will be embarking on compulsory training and monitoring workshops.

  • BDS unveils e-learning for ARs

    2 Jun 2008

    BDS Mortgage Group has launched an e-learning system for its appointed representatives. Developed with Absolutely Training, the system will help users to meet their regulatory obligations through a series of online courses, updated learning material and competency tests while recording continuing professional development hours.

  • Bill Warren and Stephen Atkins join up with Insynergi

    3 Jun 2008

    Compliance experts Bill Warren and Stephen Atkins have become associate partners of Insynergi.

  • BIM withdraws fixed rate and cuts SVR LTVs

    6 Jun 2008

    Bank of Ireland Mortgages is withdrawing its 6.09% three-year fixed rate product up to 75% LTV with a £999 arrangement fee.

  • Black times for Bradford & Bingley

    3 Jun 2008

    Bradford & Bingley’s controversial on and off rights issue has run into further trouble with the revelation that the mortgage bank has sold a 23% stake in the business to US private equity investor TPG Capital in a cut price deal.

  • Blemain and CMC join Mortgage Next lender panel

    6 Jun 2008

    Mortgage Next has added Blemain Finance and Cheshire Mortgage Corporation to its panel of lenders.

  • BoE ignored clamour for rate cut

    5 Jun 2008

    The Bank of England is ignoring the clamour for an interest rate cut, and the longer it waits to cut rates the more economic damage will be done, warns Mform.co.uk.

  • Born to run

    2 Jun 2008

    While most of us spent the bank holiday resting, nine brave souls from Lifetime ignored the bank holiday rain to run 10km for the Anthony Nolan Trust.

  • Bright sees increase in mortgage broker enquiries

    6 Jun 2008

    Master broker Bright Finance has seen an increase in the number of mortgage brokers signing up to become introducers to Bright Finance.

  • Britannia launches members-only three-year fixed rate

    6 Jun 2008

    Britannia has released a members-only three-year fixed rate deal at 6.14% available up to 75% LTV with a £499 arrangement fee.

  • British Insurance calls for PPI to be taken away from lenders

    5 Jun 2008

    The Competition Commission’s latest report into Payment Protection Insurance is "lightweight" and will not protect against exploitation, says Simon Burgess from independent PPI provider, British Insurance.

  • Brits fail at valuing home contents, says L&G

    4 Jun 2008

    UK homeowners are seriously undervaluing the contents of their homes, reveals research from Legal & General.

  • Brits feel trapped in their homes, says Gocompare.com

    2 Jun 2008

    Gocompare.com says more than 3.5 million Brits feel stuck in their homes as a result of the credit crunch.

  • Brokerages respond to Sky News exposé

    2 Jun 2008

    Alexander Hall and Chase De Vere have defended themselves against allegations of bad practice.

  • Brokers arrange more big loans

    2 Jun 2008

    Over a third of brokers have arranged more loans in excess of 500,000 in the past three years, research from Bank of Scotland reveals.And some 10% of brokers say such loans now account for more than 25% of their business. BoS says its findings mirror Council of Mortgage Lenders figures that show the number of mortgage advances over 500,000 rose 32% in 2007.

  • Brokers think more securitisations are likely

    2 Jun 2008

    some 61% of Mortgage Strategy Online readers think HBOS' 500m securitisation will lead to other lenders following suit, despite the unfavourable terms it secured.

  • Brokers told to make the most of protection

    2 Jun 2008

    LifeSearch Expert says brokers could claim average fees of around £600 for protection plans.

  • BSA reports 3.3% fall in gross lending

    2 Jun 2008

    The Building Societies Association today reports a 3.3% fall in gross lending, dropping from £3.7bn in April 2007 to £3.6bn in 2008.

  • Buy-to-let remains strong says Assetz

    3 Jun 2008

    An increase in repossessions and rise in rental demand will keep the the buy-to-let market stable, says Assetz.

  • CAL appoints Connect Mortgage Group

    5 Jun 2008

    Conveyancing Alliance, the online conveyancing distributor, has been appointed to supply its services exclusively to Connect Mortgage Group members.

  • Charcol picks Evaluate for sub-prime products

    2 Jun 2008

    John Charcol will use Evaluate Technologies for sub-prime applications from today.

  • Charcol restructures as founders pump in cash

    2 Jun 2008

    John Charcol is being restructured in the wake of major refinancing from founders John Garfield and Charles Wishart.

  • Cheshire Mortgage Corporation sees increased interest from networks

    4 Jun 2008

    Cheshire Mortgage Corporation has seen a huge upsurge of interest from mortgage networks sourcing specialist lending products.

  • CHL confirms withdrawal from residential and B2L until Q3 2008

    5 Jun 2008

    CHL Mortgages has confirmed it will re-enter the residential and buy-to-let markets later in the year.

  • CML says arrears and repossessions should still stay low

    4 Jun 2008

    The Council of Mortgage Lenders says it still anticipates that arrears and repossessions will remain low in 2008, as it forecast in October 2007.

  • Conti and John Charcol pair up for overseas

    2 Jun 2008

    Overseas mortgage brokerage Conti Financial Services has exclusively partnered with John Charcol to provide finance for holiday homes, investment and retirement properties in more than 45 countries.

  • Crawshaw steps down as B&B chief executive

    2 Jun 2008

    Health problems force Bradford & Bingley chief executive Steven Crawshaw to resign as Texas Pacific Group takes a 23% stake in the lender.

  • CULHANE RESIGNS FROM EDEUS BOARD

    3 Jun 2008

    Micheal Culhane, chief executive of Oakwood Home Loans, has resigned from the board of directors of edeus.

  • Culhane resigns from edeus board

    2 Jun 2008

    Mike Culhane, chief executive of Oakwood Global Finance, has resigned from edeus' board of directors to avoid a potential conflict of interest.

  • CurriculumVitae: Mark Posniak

    2 Jun 2008

    "I no longer aspire to be the next Adam Gilchrist"

  • Directors buy B&B shares to show confidence

    6 Jun 2008

    Three directors at Bradford & Bingley have bought 430,000 shares in the beleaguered bank.

  • Doppelganger

    2 Jun 2008

    It's not unusual for PRs to treat journalists to the odd lunch, but Loandistributor.co.uk editor Natalie Martin was a bit worried when one friendly PR invited her to a back and abs class at the gym.

  • Dual pricing bites into brokers' market share

    4 Jun 2008

    A report by Datamonitor, the independent market analyst, reveals brokers will lose market share in 2008 from 65% to 63%, a 2% drop.

  • Dual pricing is a short-term problem

    2 Jun 2008

    Dual pricing threatens brokers' businesses and could make the market less fair for consumers but the phenomenon should die out as lenders rebuild their volumes, says Rob Clifford

  • Dunfermline unveils drawdown range

    2 Jun 2008

    Dunfermline has launched a range of drawdown lifetime mortgage products which include regular payment options.

  • Emotion is a dangerous market driver

    2 Jun 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

  • Evaluate and John Charcol join forces

    2 Jun 2008

    John Charcol has chosen Evaluate’s specialist mortgage sourcing and application software for its sub-prime specialist division.

  • Even providers agree that HIPs don't cut the mustard

    2 Jun 2008

    Housing minister Caroline Flint will look you in the eye and spew out the Department for Communities and Local Government’s line that Home Information Packs save buyers time and money until the cows come home.

  • Exclusive Connections guarantees proc fees

    3 Jun 2008

    Exclusive Connections, the UK’s largest mortgage packaging and distribution network, has launched a scheme that guarantees procuration fee payments to its introducers.

  • Experts should help improve the market by backing HIPs

    2 Jun 2008

    For many years the house buying process has been fundamentally flawed, so why are those who presided over this mess so resistant to change? What do the National Association of Estate Agents, the Royal Institution of Chartered Surveyors and the Law Society have to gain by opposing HIPs?

  • Ex-Prestbury COO to launch bridging lender

    3 Jun 2008

    Steve Keenan, co-founder of Prestbury Financial and Prestbury Holdings, has resigned as chief operating officer and is to launch bridging lender Sense Lending.

  • Fed governor calls for greater transparency

    2 Jun 2008

    The Federal Reserve commemorated the first anniversary of the credit crunch last week with a speech by one of its governors on the prospects for a recovery in the mortgage market.

  • Firms could be ranked by complaints

    2 Jun 2008

    Financial services firms could be ranked by the number of complaints they receive in an effort to better inform consumers.

  • Firms flout TCF with unfair contract terms

    5 Jun 2008

    A review from the Financial Services Authority has found that firms are still drafting unfair contract terms, directly going against the principle of Treating Customers Fairly.

  • FirstPlus quits FISA

    3 Jun 2008

    FirstPlus, one of the UK’s largest secured loan lenders has quit as a member of the Finance Industry Standards Association, the secured loan industry’s self-regulatory and compliance body.

  • Fitch predicts a weakened UK banking market

    3 Jun 2008

    Fitch Ratings is predicting a weakened banking market in the UK in 2008 as a result of the continuing pressure on the wholesale and investment banking sectors.

  • Friends Prov joins Paradigm's dual protection panel

    2 Jun 2008

    Friends Provident is the latest provider to join Paradigm Mortgage Services’ dual protection panel.

  • Friends Provident joins Paradigm's dual protection scheme

    2 Jun 2008

    Friends Provident has joined Paradigm Mortgage Services’ dual protection proposition.

  • FSA appoints three senior advisers

    5 Jun 2008

    The Financial Services Authority has appointed three senior advisers from City banks in the wake of this week’s Bradford & Bingley profit warning.

  • FSA campaign highlights arrears

    2 Jun 2008

    The Financial Services Authority is ramping up its financial education campaign in reaction to concerns about rising mortgage arrears. It will provide borrowers with checklists advising them to keep track of their income and outgoings, plan for difficulties and speak to debt advice counsellors or their lenders if they fall behind with payments.

  • FSA closes down illegal land sales company

    4 Jun 2008

    A company that illegally promised planning permission for plots of land is being closed down by the Financial Services Authority.

  • FSA website doesn't practise what the regulator preaches

    2 Jun 2008

    A couple of weeks ago I needed to produce a combined IDD to cover equity release and general insurance products.

  • FSA website to help young people in debt

    3 Jun 2008

    The Financial Services Authority has unveiled a website for young people in need of advice on money matters.

  • GMAC-RFC defends quality of loans sold to B&B

    2 Jun 2008

    GMAC-RFC has defended the quality of its mortgages after Bradford & Bingley revealed that the arrears for loan books it had recently bought from GMAC-RFC were now higher than anticipated.

  • Goldsmith launches Free Fee Plus conveyancing scheme

    4 Jun 2008

    Goldsmith Williams is offering brokers a free fee conveyancing deal which is designed to give brokers an alternative to lenders own free fee legal options.

  • Good luck charm

    2 Jun 2008

    Mortgage Strategy was treated to an evening of football last week when England clashed with the US in a friendly at Wembley.

  • Green shoots of market recovery

    2 Jun 2008

    At last there's good news for the industry as lenders are offering brokers exclusives again and HBOS has completed the market's first securitisation since August 2007, says Mark Harris

  • Guidance for equity release brokers

    2 Jun 2008

    The news that Stonehaven has seen a 50% increase in broker registrations should come as no surprise.

  • Halifax cuts rates on broker products

    2 Jun 2008

    Halifax will today slash fees by as much as £500 and reduce rates on a number of tracker products available via brokers.

  • Hannibal lecher

    2 Jun 2008

    Positive Lending's latest newsletter proved to be insightful reading.

  • History will judge us differently

    3 Jun 2008

    At times of crisis there’s a tendency to look back to the past and see if we can glean any lessons from history.

  • Home Buyer Systems reports heavy demand for Lite product

    2 Jun 2008

    Home Buyer Systems has reported strong demand for its new compliance and insurance sales system, HBSLite.

  • Home moves cost firms £1.5bn a year

    2 Jun 2008

    The time employees spend co-ordinating home moves during office hours costs businesses £1.5bn a year, says Moveme.com.

  • House prices down 2.4%, says Halifax

    5 Jun 2008

    In its monthly house price index, Halifax says house prices declined by 2.4% in May, down 3.8% year-on-year. Average property prices now stand at £184,111.

  • IMF is no longer up to the task, says BoE

    2 Jun 2008

    The Bank of England says global economic evolution has rendered the International Monetary Fund obsolete.

  • IMLA bullish about brokers

    2 Jun 2008

    Peter Williams, executive director of the Intermediary Mortgage Lenders Association, has called brokers an essential part of the market's landscape. IMLA says 75% of mortgages were originated by brokers in Q1 2008 compared with 25% 20 years ago. Williams says: "Despite all the challenges, the market will return and a robust intermediary sector will be essential, particularly given the need for customers to be properly advised in a testing market."

  • Increase in arrears not confined to sub-prime

    2 Jun 2008

    The number of home owners falling behind on mortgage payments is rising in the prime and sub-prime sectors, says Standard & Poor's.

  • Increasing number of people worried about debt

    3 Jun 2008

    The number of people concerned about debts is up from 33% to 38% in three month, show figures from MoneyExpert.com/

  • Intrinsic chooses EDGE V2 for sub-prime sales

    2 Jun 2008

    Intrinsic Financial Services has chosen EDGE V2 as its preferred sales process for sub-prime products.

  • Jam today generation needs protection

    2 Jun 2008

    Our culture has changed dramatically in the past 50 years. If we want to go on holiday we can pay for it by credit card and worry about it later. When we are hungry we can stick a ready meal in the microwave rather than cooking from scratch. And when we want a new TV we can buy it online and have it delivered tomorrow.

  • Labour peer made FSCP chairman

    2 Jun 2008

    Labour peer Lord Lipsey has been appointed chairman of the Financial Services Consumer Panel by the Financial Services Authority. The former economist and journalist will take over the post from John Howard this month. Chris Cummings, director-general of the Association of Independent Financial Advisers, says: "We are pleased that Lord Lipsey has been appointed as chairman of the FSCP."

  • Lexicon shuts resi surveyors

    2 Jun 2008

    Lexicon Surveying Services became the latest victim of the credit crunch last week after it ceased trading on Friday and axed 80 staff.

  • Lib Dems doubt sub-prime scruples

    4 Jun 2008

    The Liberal Democrats have called into question the commitment of sub-prime lenders to stick to proposals outlined in the Council of Mortgage Lenders' open letter to Chancellor Alistair Darling today.

  • LMS launches rebate scheme

    3 Jun 2008

    Estate agents could pocket up to £30,000 a year under LMS’ combined Home Information Pack and conveyancing rebate scheme.

  • Lord Turner appointed new chairman of FSA

    2 Jun 2008

    chancellor Alistair Darling finally confirmed Lord Adair Turner as the Financial Services Authority's new chairman last week.

  • LV= launches protection deal

    2 Jun 2008

    LV= has launched a mortgage and lifestyle protection product to protect customers' mortgage repayments and living expenses. The firm says that while many brokers recommend mortgage payment protection insurance for long-term cover, if customers need to make disability claims they often find that MPPI only pays out for short-term periods.

  • MAB unveils promotions

    6 Jun 2008

    Mortgage Advice Bureau today unveiled two internal promotions.

  • Mandatory advice leaflet would treat clients fairly

    2 Jun 2008

    An open letter to Lesley Titcombe, head of small firms at the FSA

  • Market Watch 02 June 2008

    2 Jun 2008

    Swaps posted another meteoric increase last week, surging to levels not seen since last autumn. Two-year swaps are up almost 0.66% compared with two or three weeks ago and three-month LIBOR now stands at 5.88%.

  • Mayfair bridging reports record enquries in May

    3 Jun 2008

    Preston based bridging Mayfair Bridging has seen a record number of enquiries for the month of May.

  • Mform.co.uk launches remortgage comparison service

    3 Jun 2008

    Mform.co.uk has launched a comparison facility for borrowers coming to the end of mortgage deals.

  • Mixed news on house prices

    2 Jun 2008

    Latest figures from the Land Registry show house prices fell by 0.2% in April. This represents a slowdown in declining prices, despite marking the eighth consecutive monthly drop. Nationwide figures for May were more downbeat, claiming prices are £8,000 down compared with the same period last year.

  • Money Partners joins AMPD lender panel

    2 Jun 2008

    The Alliance of Mortgage Packagers and Distributors has appointed Money Partners to its lender panel, meaning Money Partner’s range of specialist mortgage products is now available to AMPD members.

  • Money Partners joins AMPD's panel

    2 Jun 2008

    The Alliance of Mortgage Packagers and Distributors has appointed Money Partners to its lender panel.

  • Money Partners to relaunch product range on June 16

    3 Jun 2008

    Money Partners is relaunching its product range on Monday June 16 with new prices and criteria.

  • More 2 Life links up with Living Plus

    2 Jun 2008

    More 2 Life is launching a new home reversion plan with Living Plus.

  • More than 200 brokers attend Friends Prov online seminar

    2 Jun 2008

    Friends Provident says it had a positive response to its first online seminar entitled Maximise Your Income, with more than 200 brokers attending the event.

  • Mortgage 2000's packaging arm hits target

    2 Jun 2008

    Mortgage 2000’s packaging arm, m2-d&p has seen significant outcomes and improvements as a result of its recent Right First Time initiative.

  • Mortgage Next adds Blemain and Cheshire Mortgage Corporation to panel

    6 Jun 2008

    Mortgage Next has added Blemain Finance and The Cheshire Mortgage Corporation to lender packager panel.

  • Mortgage Next teams up with PMI

    5 Jun 2008

    Mortgage Next has teamed-up with PMI Partners to add private medical insurance to the range of products they offer.

  • Most brokers not focussed on TCF, says Pink

    6 Jun 2008

    Pink Home Loans says 59% of brokers are more concerned with income levels than the looming Treating Customers Fairly deadline.

  • MPC freezes rate at 5%

    5 Jun 2008

    The Monetary Policy Committee has voted to hold the base rate at 5.0% in June.

  • MPPI's short-term solutions do not meet clients' needs

    2 Jun 2008

    Mortgage payment protection policies provide a short-term fix for problems that could last years.

  • MS base rate pundits right on the money

    2 Jun 2008

    Mortgage Strategy's Shadow Monetary Policy Committee last week convened for the 15th time since its inception last April.

  • NAEA calls for tax relief for struggling home owners

    4 Jun 2008

    The National Association of Estate Agents is calling on the government to come to the aid of struggling first-time buyers by offering them a stamp duty holiday.

  • Nationwide rejigs self-build remortgages

    2 Jun 2008

    Nationwide is no longer accepting remortgage applications on self-builds, has made changes to lending its criteria for new-builds, and across the board for its fixed rate products.

  • Natural move

    2 Jun 2008

    The government's plan to build 10 eco-towns could boost buyers' interest in green mortgages and brokers must remain aware of the deals available, says Mark Skinsley

  • Network Data launches five-year product with Abbey

    3 Jun 2008

    Network Data is offering an exclusive five-year fixed rate product from Abbey.

  • Newcastle appoints head of product development

    3 Jun 2008

    Newcastle has appointed its head of product development and third party marketing.

  • Newcastle to launch broker savings service

    2 Jun 2008

    Newcastle Building Society has soft-launched a range of savings and investment products exclusively for brokers under the new brand Newcastle IS.

  • NLA reveals 78% of members against letting agency fees

    3 Jun 2008

    A survey conducted by The National Landlords Association has revealed 73% of landlords consider the renewal fee charged by letting agents is not reflective of the work put in at the agency.

  • NLA unveils guiding principles for rent-back code

    4 Jun 2008

    The National Landlords Association has unveiled the guiding principles for its forthcoming code of practice for landlords involved in the sale and rent back market.

  • Norton expands broker team

    5 Jun 2008

    Norton Broker Services has expanded its team with two new appointments.

  • Norwich Union to make up to 1,800 UK staff redundant

    6 Jun 2008

    Norwich Union is set to make around 1,800 redundancies over the next two years in a mass restructuring of the company.

  • NR clients can switch to Lloyds TSB

    5 Jun 2008

    Lloyds TSB has unveiled a three-year agreement with Northern Rock to allow customers of the government owned lender nearing the end of their fixed rate deals to switch to Lloyds TSB products.

  • OFT fires warning shot over misleading IVAs

    5 Jun 2008

    The Office of Fair Trading is today warning consumers to be careful before responding to unsolicited letters advising them to cancel existing individual voluntary arrangements.

  • OFT fires warning shot over misleading IVAs

    5 Jun 2008

    The Office of Fair Trading is today warning consumers to be careful before responding to unsolicited letters advising them to cancel existing individual voluntary arrangements.

  • Orbiter bags MPLC veteran for marketing post

    2 Jun 2008

    Orbiter Group has hired Pete Thomson to lead its sales and marketing department.

  • Our distribution of Investec products will benefit brokers

    2 Jun 2008

    Thank you for your coverage of Kensington's launch of structured products provided by our parent company Investec (Mortgage Strategy May 26).

  • Paradigm unveils protection panels

    2 Jun 2008

    Paradigm Mortgage Services has launched a two-tiered protection proposition. It includes a preferred panel whole of market option plus a limited panel comprised of five brands. The propositions are open to all brokers. The deal gives Paradigm members access to protection products from all chosen providers including life cover and mortgage payment protection. Bob Hunt, chief executive of Paradigm, says: "Given the ongoing difficulties in the market, the panels will support brokers in ...

  • Paragon guide on B2L tax breaks

    2 Jun 2008

    Paragon Mortgages has launched an online guide to encourage landlords to take advantage of tax breaks. Research by the lender shows that 86% of landlords are unaware of a 1,500 allowance for improving the energy performance of their rental properties.

  • Pink analyst gets on his bike for Jennifer Trust

    2 Jun 2008

    A member of staff from Pink Home Loans will cycle from London to Paris this month to raise money for spinal muscular atrophy charity The Jennifer Trust.

  • Pink receives record votes for 2008 service awards

    4 Jun 2008

    Pink Home Loans Group has received a record number of votes for its annual Pink Service Awards this year.

  • Platform launches lending services

    2 Jun 2008

    Platform has launched a lending services department. Jason Finch, previously head of new business at Platform, has been appointed head of mortgage processing within the department. He will oversee 52 staff across five teams, who will be responsible for processing applications from receipt to offer while co-ordinating with Platform's sales team.

  • Platform to cut packager panel

    3 Jun 2008

    Platform has cut the 170 odd firms on its packager panel but the lender has not revealed how many firms have been affected by the change.

  • PMPA members avoid Platform cull

    4 Jun 2008

    The Professional Mortgage Packagers Alliance says that none of its member firms have been affected by Platform's recent cull of its packager panel.

  • PMPA members retained on Platform's packager panel

    4 Jun 2008

    All member firms of the Professional Mortgage Packagers Alliance have been retained on Platform’s packager panel, following the lender’s recent rationalisation of its packager distribution route.

  • PPI complaints to FOS spiral

    2 Jun 2008

    A sixfold rise in payment protection insurance complaints to the Financial Ombudsman Service has been blamed on ambulance-chasing lawyers.

  • PPI customers being overcharged 1.4bn a year

    5 Jun 2008

    The Competition Commissionss provisional findings into the Payment Protection Insurance market have found that consumers are being overcharged by 1.4bn a year.

  • PPI customers overcharged by £1.4bn a year

    5 Jun 2008

    Provisional findings from the Competition Commission today have slammed the lack of competition in the Payment Protection Insurance market, alleging that customers may have been overcharged by £1.4bn a year.

  • PR protection

    2 Jun 2008

    PR guru John Wriglesworth is preparing himself for the rigours of the Berlin Marathon on September 28.

  • Praxis adds five lenders to panel

    4 Jun 2008

    Mortgage packager Praxis is adding five lenders to its panel.

  • Prestbury COO steps down

    3 Jun 2008

    Steve Keenan, co-founder of Prestbury Financial and Prestbury Holdings has resigned as chief operating officer.

  • Price falls could help FTBs

    2 Jun 2008

    First-time buyers could benefit from falling house prices this year, says Nationwide's chief economist Fionnuala Earley.

  • Pricing is not clients' biggest issue

    2 Jun 2008

    The dual pricing debate raises interesting questions about the reasons consumers consult brokers in the first place.

  • Principal firms to pay less FSA fees

    2 Jun 2008

    Firms employing appointed representatives will get a break when it comes to regulatory costs under revised Financial Services Authority fee rates.

  • Providers fill the equity release gap

    2 Jun 2008

    With dramatic product development in the equity release market over the past few years, one wonders what's next for the sector.

  • Quality of promotions is still too low

    2 Jun 2008

    The Financial Services Consumer Panel recently took a look at the standard of financial advertising.

  • Ratings agencies to strike deal over sub-prime crisis

    5 Jun 2008

    The world's top three ratings agencies have reportedly closed a deal that frees them from having to admit any wrongdoing when it comes to the sub-prime crisis.

  • Recruitment drive at Premier Group

    4 Jun 2008

    The Premier Group has revealed plans to recruit up to 20 extra advisors by the end of the year.

  • Regeneration study planned

    2 Jun 2008

    A study into the effect the credit crunch might have on regeneration projects is to be commissioned by local government minister John Healey. He says: "Tightening credit, uncertainty in the housing market and slower economic growth could all affect regeneration investments and we have to understand these risks."

  • Remortgages rose in April but purchases still plunged

    2 Jun 2008

    The latest figures from the Bank of England show remortgages actually rose in April from £13.6bn in March to £14.1bn.

  • Remortgaging increasingly dominates the slowing market

    3 Jun 2008

    The proportion of mortgage business represented by remortgaging continues to grow, according to latest survey information obtained by IMLA from both intermediaries and lenders.

  • Richard Brown appointed chairman of CML

    3 Jun 2008

    Richard Brown has been appointed acting chairman of the Council of Mortgage Lenders.

  • Richard Taylor - The Mortgage Daddy

    3 Jun 2008

    It is with great sadness and huge regret that I need to inform you all that Richard Taylor, our senior partner at The Cobalt Group, passed away last week.

  • Salans appoints conveyancing manager

    2 Jun 2008

    Conveyancing specialist Salans has appointed Chris Cosgrave as conveyancing manager.

  • Sants' mixed messages add to confusion over lenders' dual pricing policies

    2 Jun 2008

    I have received a personal written response to my correspondence with Hector Sants, chief executive of the Financial Services Authority, which I mentioned in my letter in the May 19 issue of Mortgage Strategy.

  • Scotland fares better in credit crunch

    3 Jun 2008

    Borrowers in Scotland are faring better during the credit crunch than the rest of their UK counterparts, says the Council of Mortgage Lenders.

  • Self-employed women less fearful about the future

    3 Jun 2008

    Self-employed women are less fearful for their businesses in the face of the credit crunch, reveals the latest Kensington Self-Employed Index.

  • Shadow Mpc

    2 Jun 2008

    The unexpected rise in inflation caused by spiralling fuel and food costs has led the Mortgage Strategy GE Money Home Lending Shadow Monetary Policy Committee to unanimously call for a base rate freeze this month

  • Sharetobuy.com to roll out 90% deal to Trigold in June

    4 Jun 2008

    Sharetobuy.com, a provider of shared mortgages, is roll out a 90% LTV lifetime tracker available at 5.85% on Trigold in June.

  • Small firms lose track of ARs

    2 Jun 2008

    A compliance firm has accused small firms of failing to keep track of their appointed representatives, contrary to Financial Services Authority regulations.

  • SmartNewHomes.com is calling for steps to revive market

    4 Jun 2008

    Practical steps are needed to kick start the housing market, says SmartNewHomes.com.

  • SmartNewHomes.com is calling for steps to revive market

    4 Jun 2008

    Practical steps are needed to kick start the housing market, says SmartNewHomes.com.

  • Solicitors form equity release alliance

    4 Jun 2008

    Six solicitor firms specialising in equity release have come together to form the Equity Release Solicitors’ Alliance.

  • Stability and confidence more important than base rate cut

    4 Jun 2008

    Base Commercial Mortgages beleievs the country needs a restoration of economic stability and confidence more than it needs a rate cut, which it believes could send out the wrong signals that the economy is running out of control.

  • Standard & Poor’s downgrades B&B

    3 Jun 2008

    Ratings agency Standards & Poor's has lowered its short-term counterparty credit rating on Bradford & Bingley and warned that weaknesses in the bank's loan book have become apparent faster than expected.

  • Steve Keenan steps down as COO at Prestbury Holdings

    3 Jun 2008

    Steve Keenan, chief operating office at Prestbury Holdings has stepped down from his role, but will remain a consultant to the firm.

  • Stock Picker

    2 Jun 2008

    Figures from Nationwide show that house prices have declined by 4.4% year-on-year. The monthly decline of 2.5% recorded for April was the largest drop seen since the index was launched in 1991.

  • SYH Charterhouse warns of "unscrupulous" industry elements

    3 Jun 2008

    SYH Charterhouse is warning struggling borrowers not to be taken in by “mortgage rescue” propaganda.

  • This week's top question from CashQuestions.com

    2 Jun 2008

    Question: My client has an interest-only base rate mortgage with Nationwide at 20% LTV, originally taken out as a pension-linked deal. She has been making capital repayments with bonuses. Last year she took out a further advance but a recent inheritance means she can pay this back. Should she do this to save mortgage interest or keep it for home improvements she is planning in 18 months' time?

  • Three out of four brokers predict BBR will stay at 5%

    3 Jun 2008

    A survey by Pink Home Loans shows that three out of four of its brokers believe that the Bank base rate will remain unchanged in June.

  • Time to take the remortgaging initiative

    2 Jun 2008

    The recent rainy bank holiday gave me a rare opportunity to sit back and pore over the weekend newspapers that once again spent much of their time pontificating on the state of the mortgage market.

  • Tiuta launches refurbishment bridging loan

    3 Jun 2008

    Bridging lender Tiuta is launching Refurbridge, that will finance both the purchase price and the cost of refurbishing the property.

  • TMA tells brokers to diversify

    2 Jun 2008

    The Mortgage Alliance is calling on brokers to maximise ancillary sales to cope with the credit crunch.

  • TMB staff raise over £1,300 for charity

    5 Jun 2008

    Staff at The Mortgage Business have raised £1,330 for charity.

  • TMO employee to hold wake for firm

    2 Jun 2008

    A former staff member of The Mortgage Operation is holding a wake for the firm, which went into administration in April. Charles Fitzpatrick, former central services manager, is organising a party to commemorate the firm from 6pm on June 13 at Tiles Wine Bar in Mayfair, London.

  • US unemployment rises to 5.5%

    6 Jun 2008

    Unemployment in the US has risen for the fifth month in a row, hitting 8.5 million in May. This represents 5.5% of those available for work.

  • Ussher to address AIFA AGM

    2 Jun 2008

    Kitty Ussher, economic secretary to the Treasury, will deliver the keynote speech at the Association of Independent Financial Advisers' annual general meeting on November 19.

  • We do like to be beside the seaside

    2 Jun 2008

    It could be time to unpack the bucket and spade because seaside towns are bucking the market trend, with property prices on the increase despite the credit crunch, says Simon White

  • Weaknesses in B&B loan book apparent faster than expected

    2 Jun 2008

    Ratings agency Standards & Poor's has lowered its short-term counterparty credit rating on Bradford & Bingley and warned that weaknesses in the bank's loan book have become apparent faster than expected.

  • Website reveals true cost of dual pricing

    2 Jun 2008

    The true extent of dual pricing was revealed last week, with the news that borrowers could save up 880 a year by applying for mortgages direct.

  • We're in the dark about the market

    2 Jun 2008

    Not even BoE governor Mervyn King knows what economic conditions have in store for the mortgage industry and many pundits' predictions have proven to be hollow, says Sue Read

  • Woolwich unveils lifetime tracker

    2 Jun 2008

    Woolwich has launched a lifetime tracker deal and updated its fixed rates. It is now offering a flexible lifetime product at base rate plus 0.99% at 60% LTV.

  • Would you be willing to take out a mortgage from your local supermarket?

    2 Jun 2008

    Supermarket giant Asda is looking at referral deals with brokers to help its customers source mortgages. Other supermarket chains already offer such services and Asda has a relationship with Lifesearch for protection products. Whether Asda's move will be a hit with consumers is another matter.

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