Mortgage Strategy
2 March 2009

  • 50% more borrowers are making overpayments

    2 Mar 2009

    The number of home owners making overpayments on their mortgages has gone up by 50% in the past year, figures from Co-operative Bank Mortgages reveal.

  • 1st Stop puts credit brokerage into administration

    3 Mar 2009

    The 1st Stop Group has put its credit brokerage 1st Stop Finance into administration, resulting in the loss of 120 jobs.

  • A strategy for success

    6 Mar 2009

    This interview was arranged when the economic outlook was brighter but things are changing rapidly in the recession and Colin Greaves, managing director of Newcastle Strategic Solutions, turns up anyhow to fight his corner.

  • A view from Xit2

    5 Mar 2009

    Why did I think the opportunity to host a blog would be a good thing this year?

  • Abbey launches broker exclusive at 3.59%

    5 Mar 2009

    Abbey for Intermediaries is launching a two-year fixed rate broker exclusive at 3.59% to its key mortgage partners.

  • AFB calls for FSA regulation of second charge lending

    5 Mar 2009

    The Association of Finance Brokers has called on the Treasury and the Department for Business, Enterprise and Regulatory Reform to pass responsibility for regulation of second and subsequent charge residential lending to the Financial Services Authority.

  • AFB calls for FSA regulation of second charge lending

    5 Mar 2009

    The Association of Finance Brokers has called on the Treasury and the Department for Business, Enterprise and Regulatory Reform to pass responsibility for regulation of second and subsequent charge residential lending to the Financial Services Authority.

  • AIFA and AMI call for member action on FSA fee hikes

    5 Mar 2009

    The Association of Independent Financial Advisers and the Association of Mortgage Intermediaries has issued a joint statement calling for members to respond to the Financial Services Authority fees proposals.

  • Alan Dring unveiled as Marketing Innovation Forum's sales guru

    6 Mar 2009

    Industry consultant Alan Dring has been unveiled as the sales guru on the recently launched Marketing Innovation Forum.

  • Allegations of dodgy dealings overshadow Irish recapitalisation

    6 Mar 2009

    The recapitalisation of Ireland's two main banks, Allied Irish and Bank of Ireland, has been at a cost of €7bn to taxpayers. And it has been overshadowed by continuing revelations of what have been called "dodgy dealings" at Anglo Irish Bank, which has already been nationalised.

  • AMI welcomes quantitative easing

    5 Mar 2009

    Robert Sinclair, director of the Association of Mortgage Intermediaries says the Bank of England's plan to inject up to £75bn into the money markets should go some way in helping the mortgage market.

  • Arrears on sub-prime mortgages hit record high

    3 Mar 2009

    Arrears on sub-prime mortgage loans in the UK hit a record high of 28.6% for Q4 last year, research from Standard & Poor’s shows.

  • Assurant warns of MPPI overpayment

    4 Mar 2009

    Clients with mortgage payment protection insurance may be overpaying as a result of the low interest rate environment, warns Assurant Solutions Intermediary.

  • Available mortgage schemes drop 85% year-on-year

    6 Mar 2009

    The number of live mortgage schemes on Mortgage Brain dropped by almost 20% in February, a fall of over 85% compared to last year, the sourcing system's monthly product number and analysis data.

  • Ban on 100% deals is ridiculous idea

    2 Mar 2009

    Oh dear, Labour's latest hair-brained solution to save us from ourselves appears to be outlawing the 100% LTV mortgage for good. And, apparently, Gordon Brown's asked the Financial Services Authority to come up with how to do it.

  • Bank of England cuts rates to 0.5%

    5 Mar 2009

    The Bank of England has pushed rates ever closer to zero with the decision to cut the base rate to 0.5%.

  • Barclays appears to be playing cat and mouse game

    2 Mar 2009

    The system of booking funds at Woolwich has become almost impossible to use.

  • Barratt reports half-year pre-tax loss of £600m

    2 Mar 2009

    Barratt Developments has posted a pre-tax loss of almost £600m for the second half of 2008.

  • Bitter sweet

    2 Mar 2009

    As the economic crisis worsens it seems Brits are finding solace in the sweeter things in life. Cadbury's has reported a 30% rise in annual profits, bucking the trend of gloom. Apparently, indulging in treats is the way to make it through the night.

  • BoE to begin £75bn asset purchase programme

    5 Mar 2009

    The Bank of England is to start a £75bn asset purchase programme in a bid to the boost the UK money supply.

  • Broker marketing tool pushes direct products

    2 Mar 2009

    Home Buyer Systems has launched a broker marketing tool to help brokers explain to clients that lender products may be more competitive.

  • Brown takes his prayers to the Pope

    2 Mar 2009

    Prime Minister Gordon Brown's recent audition with the Pope teased my febrile brain. Was it just something one does as a Prime Minister visiting Rome?

  • Building society net lending falls to -£491m

    2 Mar 2009

    Net lending by building societies in January this year was in negative territory at -£491m, compared to £1.4bn in January 2008.

  • Business-to-business news in brief

    6 Mar 2009

    HSBC launched a two-year fixed rate mortgage at 2.99% as it revealed that its mortgage application requests doubled in February compared with January 2009. The bank is also offering two new longer term fixed mortgages - a five-year deal at 3.99% and a 10-year loan at 4.98%. Martijn van der Heijden, head of mortgages at HSBC, said: "The feedback we have received from our customers is that the majority want to lock into today's historically low interest rates."

  • C&G restructures current mortgage range tiers

    2 Mar 2009

    Cheltenham & Gloucester is restructuring its current mortgage range, with reductions to its two tier thresholds.

  • Cattles calls for help in reviewing its bad loans

    6 Mar 2009

    Cattles has hired accountancy firm Deloitte to help review its provision against bad loans.

  • Chelsea reports a loss before tax of £39.3m

    6 Mar 2009

    Chelsea Building Society made a loss before tax of £39.3m for 2008 as it emerges as the latest mutual to shoulder the costs of the Icelandic banking crisis.

  • Claims firms welcome crackdown

    2 Mar 2009

    The Ministry of Justice's move to clamp down on dishonest ambulance chasers has been welcomed by the claims industry.

  • CML slates Lib Dem SafeStart proposal as too prescriptive

    6 Mar 2009

    The Council of Mortgage Lenders says the Liberal Democrats' proposed SafeStart mortgages would be too prescriptive.

  • Cobalt silent on strife rumours

    2 Mar 2009

    Cobalt Capital last week refused to be drawn on rumours of internal strife at the firm.

  • Curriculumvitae: Clare Barker

    2 Mar 2009

    Describe your current job

  • Customers take a broader view

    6 Mar 2009

    German consumers, weary of the financial services sector, would be happy to get their financial products via the automotive industry, a survey has revealed.

  • Distressed property prices hint at recovery

    2 Mar 2009

    Developers and lenders are reporting that prices of part-exchanged and repossessed properties are firming up with sales prices increasing by 3% since October.

  • Don't forget your high-end clients

    2 Mar 2009

    On speaking to industry contacts it is clear, and not that surprising, that an air of pessimism exists in the mortgage market.

  • Don't talk the market down

    6 Mar 2009

    Sally Laker, managing director of Mortgage Intelligence, says there are signs the housing market will pick up soon and it is nobody's interest to jump on the media bandwagon of gloom

  • Dual pricing is no longer a threat to brokers, says AMI

    2 Mar 2009

    The Association of Mortgage Intermediaries says dual pricing no longer poses a serious threat to the broker market.

  • Easy answers to complicated questions

    2 Mar 2009

    This must be the season for sound bites about mortgages.

  • ECB boss calls for global regulation of financial markets

    6 Mar 2009

    Hedge funds, credit rating agencies and all other important financial markets should be subject to global regulation, according to Jean-Claude Trichet, president of the European Central Bank.

  • Economic review shows optimism for a 2010 recovery

    2 Mar 2009

    At the Bank of England's recent economic review, which was held by Peter Andrews and Roger Beales, the outlook was upbeat for recovery.

  • E-conveyancing will not happen overnight

    2 Mar 2009

    I was recently asked for an update on the Land Registry's e-conveyancing initiative. My enquirer pointed out that having heard a fair amount in 2007 and early 2008 about the Land Registry's intention to revolutionise the conveyancing system, they had heard little since.

  • Email Mortgages ties up with online estate agent

    2 Mar 2009

    Online estate agent Get-Set-Go has teamed up with Email Mortgages to allow buyers and sellers to find properties and arrange mortgages online.

  • Engineering a new model for mutually

    6 Mar 2009

    Neville Richardson, chief executive of Britiania Building Society, talks about the ground-breaking merger with Co-operative Financial Services that will create a strong mutual force in the market

  • England faces shortage of a million homes in two years

    6 Mar 2009

    The former chief executive of Barratt Developments has warned that England will face a shortage of a million homes in 2010.

  • Ensure families are taken care of

    2 Mar 2009

    As reality TV star Jade Goody faces the tragic realisation that she has terminal cancer, her main focus is on her children who now face a future without their mother.

  • Eurodebt partners with Complete

    4 Mar 2009

    Debt management company, EuroDebt Financial Services has partnered with specialist mortgage and loans packager, Complete.

  • Exclusive Connections teams up with Affirmative

    4 Mar 2009

    Financial services provider Exclusive Connections has added Affirmative Finance to its bridging panel.

  • Ex-GE Money Home Lending director launches networking firm

    3 Mar 2009

    Mark Harrison, ex-sales director at GE Money Home Lending has launched a networking organisation for senior financial services executives.

  • Failure won't stop regulators paying themselves bonuses

    6 Mar 2009

    The Financial Services Authority's budget for 2009/10 has leapt to an eye-watering £415m, leaving shell-shocked firms to find an additional £117m for the privilege of having someone to watch over them.

  • Financial brands condemned as walking dead

    6 Mar 2009

    HSBC was still ranked as number one in Brand Finance/The Banker magazine's Top 500 global financial brands in 2009 but its brand value fell by more than 40% in a year to $25.4bn.

  • Flexible PPI product launched

    2 Mar 2009

    Payment protection insurance provider MMS has launched a product designed to address some of the criticisms aimed at the sector by the Competition Commission.

  • FSA bans mortgage broker for submitting false applications

    2 Mar 2009

    The Financial Services Authority has banned Wakefield-based mortgage adviser Mohammed Ahmed for submitting mortgage applications with fake payslips.

  • FSA considers taking control of mortgage products

    2 Mar 2009

    The Financial Services Authority looks set to wade in on product regulation and may be considering setting maximum LTVs.

  • FSA tells MPs that bank supervision will improve

    2 Mar 2009

    Lord Turner, chairman of the Financial Services Authority, admitted to MPs last week that in retrospect the supervision of banks such as HBOS was wrong. But he told the the Treasury Select Committee that "it will be fit for purpose, given the changes we are making".

  • Get Cable in as he's the best man for the job

    2 Mar 2009

    It was good to hear Gordon Brown telling the world that 100% mortgages were to be clamped down on.

  • Go figure...

    2 Mar 2009

    When is bad news good news? When the news is better than predicted.

  • Go to court to get the commission networks owe you

    2 Mar 2009

    There have been several letters in Mortgage Strategy recently about money owed to brokers not being paid, some wondering what can be done to secure payment.

  • Going boldly down the road to nowhere

    2 Mar 2009

    We can all sleep more easily this week, safe in the knowledge that Prime Minister Gordon Brown is planning to outlaw 100% LTV mortgages.

  • Government got us into this mess and now it must fix it

    2 Mar 2009

    Many suggestions have been made on how to resolve the credit crunch, but we think we have the definitive answer.

  • Guardian launches insolvency service for brokers

    4 Mar 2009

    The Guardian Financial Group has launched Guardian Corporate Solutions to provide a range of financial solutions or insolvency services to businesses and sole traders exclusively via the broker market.

  • Hamptons chooses First Action Finance

    3 Mar 2009

    Hamptons International has chosen London-based brokerage First Action Finance as its exclusive referral partner for mortgages.

  • Hays reports insurance recruiting drive

    2 Mar 2009

    Specialist recruitment company Hays is seeing a high demand for senior professionals across the UK insurance sector.

  • HCA proposes £135m affordable housing investment

    3 Mar 2009

    The Homes and Communities Agency is planning a £135m investment programme to help first-time buyers in London and support affordable housing in the capital.

  • Helping Tories add up the sums

    6 Mar 2009

    Those among you who believe that celebrity-fronted advertisements should come with a stern health warning might have raised an eyebrow at the beginning of this month, when it became known that former Countdown presenter Carol Vorderman is to head a Tory party task force to make maths fun.

  • House prices drop a further 2.3%

    5 Mar 2009

    House prices declined by 2.3% in February, more than offsetting January's 2% increase, shows the latest Halifax House Price Index.

  • HSBC announces £12.5bn rights issue

    2 Mar 2009

    HSBC has launched a £12.5bn rights issue as the banking giant reveals full-year pre-tax profits of £6.5bn.

  • Hundreds of Encore users make switch to Mortgage Brain

    4 Mar 2009

    Hundreds of Encore users have made the move to Mortgage Brain within days of Mortgage 2000’s announcement that it is pulling out of the mortgage sourcing market.

  • IGroup secured loan range axed

    5 Mar 2009

    GE Money Home Lending is scrapping its secured loan iGroup range, but will continue to offer secured loans through its First National brand.

  • I'm quitting because of unnessary regulation

    2 Mar 2009

    I am throwing in the towel as a mortgage and insurance adviser following decades of unnecessary regulation.

  • IMLA calls on government to help sub-prime market

    6 Mar 2009

    The Intermediary Mortgage Lenders Association is calling on the government to extend its funding to cover sub-prime lenders.

  • Industry bodies slam PM's plan to axe 100% deals

    6 Mar 2009

    Prime Minister Gordon Brown's idea to axe 100% mortgages has been slated by the industry.

  • Intrinsic clarifies new business income figures

    2 Mar 2009

    Intrinsic has clarified that its overall new business income for 2008 was £82.4m, not £51.9m as it indicated in last week's news story.

  • It's no fun working for Gordon

    6 Mar 2009

    What a difference a year makes. Last year the Royal Bank of Scotland was one of the best places in the world to work. According to website Here Is The City, RBS employees were having the time of their lives, riding high at number 18 on the list.

  • Judge predicts a repossessions avalanche

    6 Mar 2009

    Courts in the Irish Republic face an avalanche of repossession cases as the recession deepens and job losses soar towards 400,000, a top judge has predicted.

  • King asks Darling to agree to £150bn asset purchase

    5 Mar 2009

    Mervyn King, governor of the Bank of England, wants to buy £150bn in assets to boost inflation and restore lending.

  • L&C looking for 10 more advisers

    2 Mar 2009

    London & Country is embarking on a recruitment drive that will take its sales force to over 170.

  • L&G and MT partner up to bag 15% market share

    2 Mar 2009

    Legal & General can lay claim to a 15% share of the mortgage market as it formalises a trading partnership with the UK's biggest mortgage network Mortgage Times today.

  • L&G forms trading alliance with Mortgage Times

    2 Mar 2009

    Legal & General can lay claim to a 15% share of the mortgage market as it formalises a trading partner-ship with the UK's biggest mortgage network Mortgage Times today.

  • Labour urged to help sub-prime

    2 Mar 2009

    The government was last week urged by the Intermediary Mortgage Lenders Association to help fund sub-prime lenders.

  • Law firm offers clients refunds on their HIPs

    2 Mar 2009

    Liverpool-based solicitor Paul Rooney Partnership is offering to refund clients the cost of their Home Information Packs when their house sales complete.

  • Lead generation guru for marketing forum revealed

    2 Mar 2009

    Jonathan Barrett, head of sales at Leadbay, has been revealed as the lead generation guru on Marketing Innovation Forum.

  • LeadPoint tailors lead package for medium sized firms

    2 Mar 2009

    LeadPoint is offering medium sized adviser firms a tailored lead buying package including price reductions and a dedicated account manager.

  • LEBC Group to stay with Sesame for another three years

    2 Mar 2009

    IFA firm LEBC Group has committed to stay with its network Sesame for at least three more years.

  • Lenders must fight their corner

    6 Mar 2009

    Phillip Tebbatt says politically motivated measures to address problems in the lending market could do more harm than good and the industry fightback should start here

  • Lenders seizing the balance of power in market

    2 Mar 2009

    While networks, brokers and house buyers have used the hiatus in mortgage activity to strengthen their position for competitive advantage, it appears some lenders are attempting to map out a different and exclusive mortgage market.

  • Lenders that make loss on homes may sue valuers

    6 Mar 2009

    Lenders that make a loss selling properties after repossession could recover substantial damages from the valuers and solicitors who advised them on the purchases, says law firm Optima Legal.

  • Lending through building societies falls to -£491m

    3 Mar 2009

    Net lending by building societies in January this year was in negative territory at -£491m, compared to £1.4bn in January 2008.

  • Lloyds Banking Group yet to agree asset protection terms

    4 Mar 2009

    Lloyds Banking Group continues to be locked in talks with the Treasury over the bank’s participation in the government Asset Protection Scheme.

  • Looking forward to recovery

    6 Mar 2009

    We have seen a sea change in the performance of the household sector in relation to debt and borrowing in the past 18 months.

  • Lord Turner and the Nuremberg defence

    3 Mar 2009

    Perhaps I’m lucky and have always enjoyed the luxury of believing in what I do and of being able to walk away from a job when I thought that my values were being too sorely tested.

  • Magic Loans goes into liquidation

    3 Mar 2009

    Secured loan master broker Magic Loans has gone into liquidation.

  • Making a splash in servicing

    6 Mar 2009

    After a year in the hot seat at HML, managing director Brian Brodie has made a big impact at the Skipton-owned mortgage servicer. Lending Strategy caught up with him

  • Mark Harrison launches networking firm

    3 Mar 2009

    Mark Harrison, ex-sales director at GE Money Home Lending has launched a networking organisation for senior financial services executives.

  • Marketwatch 02/03/2009

    2 Mar 2009

    Swaps didn't move a great deal last week. There was a small increase for longer term money and a small decrease for shorter term money. Three-month LIBOR is now 2.06%. 1-year money is down 0.04% at 1.88%. 2-year money is up 0.01% at 2.24%. 3-year money is unchanged at 2.53%. 5-year money is up 0.01% at 3.02%

  • Mortgage approvals are down by almost 60% year-on-year

    6 Mar 2009

    Mortgage approvals rose slightly in January from £7.3bn to £7.6bn compared with the previous month but the total was down almost 60% on January 2008, figures from the British Bankers' Association reveal.

  • Mortgage approvals remain flat in January

    2 Mar 2009

    The level of mortgage approvals for house purchase in January has remained static at 31,000, figures from the Bank of England reveal.

  • Mortgage approvals rose in January

    2 Mar 2009

    Latest figures from the British Bankers' Association show the value of mortgage approvals increased from £7.3bn in December 2008 to £7.6bn in January 2009.

  • Mortgage arrears in Lloyds group leap 44%

    2 Mar 2009

    The level of arrears on Lloyds Banking Group's mortgage book rose 44% in the past year, its full-year results reveal.

  • Mortgage Brain ponders further acquisitions after buying Encore

    2 Mar 2009

    Mortgage Brain says it is considering making further acquisitions after snapping up Mortgage 2000's Encore sourcing system last week.

  • Mortgage Intelligence and Northern Rock host equity release workshop

    3 Mar 2009

    Mortgage Intelligence is holding an equity release workshop in association with Northern Rock.

  • Mortgage Intelligence offers 48 hour proc fee

    6 Mar 2009

    Mortgage Intelligence is offering 48 hour procuration fees for Abbey’s latest exclusive 3.59% two- year fixed broker rate to all directly authorised members.

  • Most businesses remain sound

    6 Mar 2009

    Last month I reported that businesses were taking a more realistic view of their situation as well as appropriate action to remedy impending problems.

  • Movers and shakers

    6 Mar 2009

    Simon Conn says goodbye to Conti Financial ServicesSimon Conn, sales and marketing director at Conti Financial Services (pictured), has decided to leave the overseas mortgage company after 15 years it, but he will continue to work for it as a consultant. Conn started out in the financial services industry with Legal & General in 1980 and founded Conti in 1994.

  • MP tries to ease building societies' FSCS burden

    6 Mar 2009

    MP Ann Cryer is introducing a parliamentary early day motion in an attempt to reduce the amount of fees building societies are forced to pay the Financial Services Compensation Scheme to fund the failure of banks.

  • Newcastle posts pre-tax loss of £35.7m

    6 Mar 2009

    Newcastle Building Society has reported a pre-tax loss of £35.7m for 2008 against a backdrop of £43m in exposures to failed Icelandic banks.

  • Nick Baxter joins Rockstead

    6 Mar 2009

    Nick Baxter, director at Mortgage Promotions, has joined Brian Pitt's venture Rockstead as a non-executive director.

  • Northern Rock reports £1.4bn pre-tax loss

    3 Mar 2009

    Northern Rock has made a full-year pre-tax loss of £1.4bn, with write-downs on retail customer loans of £894.4m.

  • Northern Rock to boost its mortgage lending

    2 Mar 2009

    Northern Rock is to increase its mortgage lending with up to £14bn in new loans by 2011, a move that could see it return to the 90% LTV market.

  • Oakwood Global Finance receives European servicer ratings

    4 Mar 2009

    Oakwood Global Finance has been assigned servicer ratings for the first time by Fitch.

  • OFT probes firms' links with estate agents

    2 Mar 2009

    The Office of Fair Trading has launched a study into the relationship between estate agents and other parties in the house buying chain, including mortgage brokers and surveyors.

  • Only 40% of buyers see a HIP before they make an offer

    4 Mar 2009

    The Department for Communities and Local Government's annual report shows Home Information Packs still have their faults and many buyers are not seeing the packs until after an offer has been made.

  • PMS adds Halifax GI to general insurance panel

    3 Mar 2009

    PMS has extended its general insurance panel with the addition of Halifax GI.

  • PMS announces Northern Ireland roadshow

    4 Mar 2009

    PMS is returning to the Hilton, Templepatrick to host the first of its twice yearly Roadshows.

  • PMS launches large loan service

    6 Mar 2009

    PMS has launched a new commercial partnership with specialist broker largemortgageloans.com to deliver a large loan referral service for PMS members.

  • Poor value savings products boost mortgage overpayment

    6 Mar 2009

    The number of home owners making overpayments on their mortgages has gone up by half in the past year, figures from Co-operative Bank Mortgages reveal.

  • Product design is rarely the problem

    2 Mar 2009

    The national press seems to be predicting that the Prime Minister is about to instruct the Financial Services Authority to ban 100% LTV lending. The idea is meant to symbolise a new era of responsible lending.

  • RBS pledges to boost lending by £9bn this year

    2 Mar 2009

    The Royal Bank of Scotland has promised to boost mortgage lending by £9bn this year in exchange for its participation in the Treasury's Asset Protection Scheme.

  • Recession hits surveyors as two big firms go into administration

    2 Mar 2009

    Surveyors are emerging as the latest victims of the credit crunch, with two major companies being placed into administration in a week.

  • Regulator costs us a fortune but lets banks off lightly

    2 Mar 2009

    From time to time Mortgage Strategy publishes readers' letters that refer to the FSA. In almost all cases the writers prefer to remain anonymous, presumably to avoid the ire of the regulator. I too fall into this category.

  • Research shows consumers value societies above banks

    6 Mar 2009

    Savers and borrowers with building societies are more satisfied than customers of other financial service providers, according to research conducted by NOP and recently published by the Building Societies Association.

  • Retrain in comfort of your own home

    2 Mar 2009

    If I told you about something that has the potential to boost your business, but won't cost you anything, would you be interested?

  • S&P downgrades its outlook for Clydesdale

    2 Mar 2009

    Standard & Poor's has revised its outlook on Clydesdale Bank from stable to negative.

  • Savvy brokers will leap into IFA-land

    2 Mar 2009

    There has been much talk of mortgage advisers diversifying to stay in business and there is evidence of forward-thinking brokers doing just that, resulting in Premier Mortgage Service changing its name to PMS last month to accommodate protection and savings products.

  • Securitisation market for prime loans back by 2011, says IMLA

    3 Mar 2009

    Some 75% of intermediary lenders think the securitisation and whole loan sale markets for prime mortgages will be back in action by 2011, shows the Intermediary Mortgage Lenders Association's latest survey of its members.

  • Seek some help to get back on terra firma

    2 Mar 2009

    With all firms in the mortgage sector affected by the downturn, The Beatles' plea for Help resonates today now more than ever before.

  • Shadow MPC: This month's decision: hold

    2 Mar 2009

    Melanie Bien, Director, Savills Private Finance Decision: Hold

  • Societies always lend prudently

    2 Mar 2009

    Last week Prime Minister Gordon Brown called for a blanket ban on 100% mortgage lending.

  • Some lenders are kicking brokers while they're down

    2 Mar 2009

    I support the sterling efforts of the Association of Mortgage Intermediaries in fighting brokers' corner at this tough time.

  • Stars shine in the darkness

    2 Mar 2009

    2008 was probably the toughest year many in the mortgage sector have experienced. With the wholesale markets closed, lending has pretty much ground to a halt and the impact on firms in the intermediary sector has been challenging to say the least. Many brokers who contact Mortgage Strategy are wondering when the next customer they can actually help is going to walk through their door.

  • Stepping out

    2 Mar 2009

    Mole is feeling emotional this week after bidding farewell to editor extraordinaire Robyn Hall, who stepped down last Friday.

  • Stockton cements position at Lloyds

    3 Mar 2009

    Nigel Stockton has been made sales director of mortgages at Lloyds Banking Group.

  • Sub-prime arrears hit record high in Q4

    2 Mar 2009

    Arrears on sub-prime mortgage loans in the UK hit a record high of 28.6% for Q4 last year, research from Standard & Poor’s shows.

  • The Key integration for Sesame members

    2 Mar 2009

    Trigold has integrated with Mortgage Brain's point-of-sale system The Key for Sesame members.

  • The M factor

    2 Mar 2009

    The awards also saw the first M Factor show, featuring some of the industry's greatest talents including (pictured from top) Cobalt Capital's Andrew Montlake, Complete Mortgage Services' Brian Newell, Mortgageforce's Katie Tucker and Spinnaka's David Gillam.

  • The month at a glance

    6 Mar 2009

    Lord Oakeshott unveiled the Lib Dems' vision of mortgage stabilityFebruary started with many mortgage brokers finally understanding that it was time to diversify into different product areas.

  • The Rocky road goes ever on

    6 Mar 2009

    Recent press reports about a men-only 3i party for bankers have an interesting footnote.

  • There are plenty of sourcing systems to choose from

    2 Mar 2009

    I read with interest your article regarding Moneysupermarket.com closing its Encore system and moving brokers to Mortgage Brain (Mortgage Strategy Online).

  • This could be the return of the MIG

    2 Mar 2009

    At last, some joined-up thinking from the government was seen last week with an announcement that Northern Rock would start lending again.

  • Time to give saving a chance

    6 Mar 2009

    The word unprecedented is fast becoming overused when talking about the financial services sector. But the low interest rates we are currently seeing have led to an unprecedented situation whereby it is in the interests of borrowers for the Bank of England base rate to go up rather than down.

  • Tough on crime

    2 Mar 2009

    As the old adage goes, you wait ages for a fraud case and then three come along at once. It's been a long time coming but in the past 12 months the Financial Services Authority finally seems to have found its teeth when it comes to acting against fraudulent firms. It has begun cracking the whip and showing firms who's boss by working closely with the police to prosecute fraudulent brokers.

  • Towards a brighter future

    6 Mar 2009

    Equity release is one of the few financial markets that is growing in the UK, but it is a sign of the times that this is probably because it is one of the few areas in which there is still an opportunity for advisers and lenders to make their mark.

  • Tracker borrowers set for "inevitable" payment shock

    2 Mar 2009

    A debt solution website has warned that home owners currently on rock bottom tracker deals will face severe payment shock when their deals expire.

  • UKFI face wrath of Treasury Select Committee

    3 Mar 2009

    The Treasury Select Committee has slammed the men in charge of UK Financial Investments for failing to prepare for today’s hearing into the banking crisis.

  • Unfair FSCS levies could plunge societies into the red, warns BSA

    2 Mar 2009

    Hefty levies to the Financial Services Compensation Scheme could mean many societies report losses this year, according to the Building Societies Association.

  • Useful lenders are frozen out

    6 Mar 2009

    February saw the UK blanketed by the heaviest snowfall the country had seen for 18 years - and it was completely unprepared. The infrastructure that supports our way of life sagged under the pressure. Schools closed, offices were deserted and the capital's public transport system didn't just buckle, it shut down completely.

  • Val takes a long-term perspective

    6 Mar 2009

    With chief executives in the industry now enjoying about the same degree of job security as a Premiership football club manager, Lending Strategy was fascinated to hear from Val Stanesby, pictured above with chief executive Ian Rowling, who has just retired from Nottingham after 47 years with the society.

  • Way to go

    2 Mar 2009

    Last week the mortgage industry came together to celebrate at the Mortgage Strategy Awards, and despite the economic meltdown, a good time was had by all. But two industry stalwarts almost didn't make it to the party.

  • We can't blame it all on the bonus culture

    2 Mar 2009

    Reward for failure has become a phrase for our time. But in the hysteria surrounding the bonus culture, the facts are being disregarded as it is much easier to tar everyone working for a bank with the same brush of incompetence and greed.

  • We must return to basic underwriting

    2 Mar 2009

    Amid the recriminations and buck passing of recent weeks, little attention has been paid to the lessons that need to be learnt from the mess we are in.

  • Xit2 offers speedier payments for surveyors

    2 Mar 2009

    Xit2 is launching a scheme to pay surveyors faster once they have carried out instructions.

  • Yorkshire reports pre-tax profit of £8.3m

    3 Mar 2009

    Yorkshire Building Society has reported pre-tax profits of £8.3m, after paying its £14.7m Financial Services Compensation Scheme levy for the failures of Bradford & Bingley, Icelandic and London Scottish banks.

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