Mortgage Strategy
21 April 2008

  • Brokers benefit from TMA link-up

    21 Apr 2008

    The Mortgage Alliance has teamed up with Conveyancing Alliance Limited and Easier2Move to provide online conveyancing services to members. The partnership will enable brokers to earn referral fees of £150 from purchasing, selling and remortgaging deals.

  • Adversity brings with it opportunity for lenders

    21 Apr 2008

    Action needs to be taken at a macro level to bring more liquidity into the market and it seems like the government are starting to take a more proactive interest in resolving the issue.

  • Government moves into the arrears field

    22 Apr 2008

  • Secured Loans on the brink

    22 Apr 2008

  • Sitting ducks in stormy waters

    22 Apr 2008

  • The changing landscape

    24 Apr 2008

    Amidst all the going’s on in the secured loan industry in the last six months one thing that stands out is that the distribution methods of lenders appears to be changing, if only in the short term.

  • £38m write-downs for B&B

    23 Apr 2008

    Bradford & Bingley has revealed it took write-downs of £38m in Q1 2008.

  • £51m in mortgage drawdowns for Prudential

    24 Apr 2008

    Prudential's UK insurance operations has reported £51m in mortgage drawdowns during Q1 2008.

  • A quick fix during the servicing crisis

    21 Apr 2008

    One solution to servicing problems caused by the credit crunch could be for lenders to outsource their processing to those that have stopped lending but have efficient systems, says Sally Laker

  • Abbey passes on base rate cut

    21 Apr 2008

    Abbey is applying the Bank of England's recent 0.25% base rate cut to its SVR and base rate tracker mortgage deals.

  • Abbey withdraws from B2L

    21 Apr 2008

    Abbey has withdrawn from the buy-to-let market temporarily to focus on residential business.

  • Alana Heaton joins Alexander Hall

    25 Apr 2008

    Mortgage Strategy display sales executive Alana Heaton is joining London-based mortgage firm Alexander Hall to train as a broker.

  • AMI Expo seminar subjects revealed

    21 Apr 2008

    The organiser of Mortgage Business Expo Manchester has revealed the programme of seminars to be held in the Association of Mortgage Intermediaries area. Clarion Events says the seminars will include a debate on the relationship between directly authorised brokers, appointed representatives and franchise panels. Small firms' preparations for regulatory visits will also be covered and there will be a buy-to-let masterclass. AMI director Richard Farr will host the seminars.

  • AMI reveals its full Expo programme

    22 Apr 2008

    The Association of Mortgage Intermediaries has unveiled its full programme of seminars to be held at Mortgage Business Expo Manchester.

  • AMPD revamps payment system

    21 Apr 2008

    The Alliance of Mortgage Packagers and Distributors has revamped its reporting and payment structure to guarantee members' proc fees. AMPD members have committed to a set of payment standards that mean proc fees should be paid within 10 days.

  • At last a little bit of positive move, albeit a slight one

    22 Apr 2008

    Good work and fair tidings to Abbey which has been the first to react to the Bank of England's £50bn swap offer. Although Abbey’s move to cut its two-year tracker and flexible mortgage by a mere 0.1% may not seem much, in the current market it does offer a glimmer of hope.

  • AToM looking to take on 10 staff

    21 Apr 2008

    All Types of Mortgages is bucking the market trend by launching a re-cruitment drive for 10 staff.

  • AVM use up 400%, says Hometrack

    21 Apr 2008

    Hometrack has reported a 400% rise in the use of automated valuation models. It says lenders are looking for objective valuations of their portfolios to protect themselves during the credit crunch. Oliver Hughes, director of capital markets at Hometrack, says: "Large lenders and mortgage-related investors are looking to AVMs to value portfolios, reset LTVs and identify areas of risk. They also seek more transparency and a betterunderstanding of their assets."

  • B&B board member resigns

    23 Apr 2008

    A Bradford & Bingley board member has resigned this week.

  • B&B denies rights issue rumours

    21 Apr 2008

    Bradford & Bingley has denied reports that it plans to raise hundreds of millions of pounds in a rights issue. Reports say the lender is looking to launch the rights issue on April 22 at the latest.

  • Bank of England’s £50bn liquidity initiative leaves building societies and specialist lenders out in the cold

    21 Apr 2008

    The Bank of England has launched its scheme to allow banks to swap temporarily their mortgage-backed and other securities for UK Treasury Bills, though the size of the package, estimated to stand at £50bn has not been confirmed, and it is not clear how the package will help the bulk of the UK building societies and specialist lenders have been left out in the cold.

  • Bank of Scotland offers brokers £190 commission

    22 Apr 2008

    Bank of Scotland is offering brokers £190 incentive to sell its general insurance.

  • Barclays reassures shareholders

    24 Apr 2008

    Barclays has told shareholders it is now looking to create the conditions in which its stock price can move ahead again.

  • Base rate tinkering is not good enough

    21 Apr 2008

    I recall speculating three years ago about a tidal wave of capital that would be unleashed on the mortgage market in 2008, as well as envisaging a considerably livelier business environment than we are experiencing.

  • BoE to launch £50bn bond plan today

    21 Apr 2008

    The Bank of England will unveil this morning the long awaited plan to swap up to £50bn of mortgage-backed securities for government bonds.

  • Bridgingloans.com links with Complete Mortgage & Loan Services

    22 Apr 2008

    Bridgingloans.com has partnered with mortgage packager and distributor, Complete Mortgage & Loan Services.

  • Brokers can earn from debt service

    21 Apr 2008

    Trafalgar Square Solutions has linked up with The Debt Advice Portal to help brokers earn extra income and enhance their service.

  • Brokers face Rate Matcher headache

    21 Apr 2008

    I was dismayed by the negative coverage of HSBC's decision to extend its Rate Matcher offer to new borrowers. Some commentators have dismissed it as irrelevant and others have focussed on its low LTV and high arrangement fees.

  • Brokers fear lenders will copy HBOS proc fee cuts

    21 Apr 2008

    There's growing concern among brokers that other lenders will follow HBOS' decision to reduce proc fees.

  • Brokers have faith in professional landlords

    23 Apr 2008

    Brokers remain positive about the prospects for professional buy-to-let landlords, research from The Mortgage Works reveals.

  • Brokers lost in the retention maze

    21 Apr 2008

    Some lenders are not being straight with borrowers with regard to their retention deals and this is leading to situations in which brokers are working for no reward, says Mark Harris

  • Brokers must keep their eye on the ball

    21 Apr 2008

    Recent market turbulence has left everyone in a spin. The mortgage industry is wondering when things will calm down and is desperately hoping for stability to return.

  • Brokers should stay loyal to clients

    21 Apr 2008

    With good mortgage deals vanishing faster than lines of coke at a Nazi-themed orgy, this is surely the time for mortgage brokers to come into their own and prove that although lenders may be good, brokers are better.

  • Brokers to get proc fee lifeline

    22 Apr 2008

    Struggling brokers have been given a lifeline from outsourcing firm Connect Mortgage Group.

  • Brokers told to focus on conveyancing

    21 Apr 2008

    Mortgage brokers and IFAs could have missed out on £330m in extra in-come in the past five years by neglecting the conveyancing needs of clients.

  • Brokers urged to consider law change

    23 Apr 2008

    Secured loans packager Loanoptions.co.uk is urging brokers to reconsider their strategies in line with the Consumer Credit Act changes.

  • Brokers who adapt can negate client retention problems

    21 Apr 2008

    I was not surprised to see that my article in the March 31 issue of Mortgage Strategy generated two stiffly worded letters in the April 7 issue.

  • C&G joins Connect's preferred panel

    24 Apr 2008

    Connect Mortgage Group has added Cheltenham & Gloucester to its preferred panel.

  • C&G raises its rates

    25 Apr 2008

    Cheltenham & Gloucester has raised its rates for the second time in three weeks.

  • Cattles to launch £200m rights issue

    23 Apr 2008

    Sub-prime loan company Cattles has revealed plans to raise £200m from a rights issue.

  • CCA changes make secured loans more transparent

    23 Apr 2008

    Loanoptions.co.uk, the national intermediary dedicated secured loans packager, is telling intermediaries to reconsider their strategy to help clients wishing to raise capital in the light of the credit crisis and changes to the Consumer Credit Act.

  • Chase not in administration

    21 Apr 2008

    Chase UK has denied it has gone into administration despite revealing last week that the business is winding up.

  • CML predicts grim future for lending

    21 Apr 2008

    The Council of Mortgage Lenders has warned that the outlook for lend- ing levels in the next few months has worsened.

  • Complete retained as Salt packager

    23 Apr 2008

    Complete Mortgage and Loan Services has been retained as one of Salt’s select group of packagers, following the lender’s rationalisation of its packager panel.

  • Compliancy Services launches training course

    25 Apr 2008

    Compliancy Services has today launched its compliance officer training course.

  • Connect adds C&G to panel

    24 Apr 2008

    Connect Mortgage Group has added Cheltenham & Gloucester to its preferred panel.

  • Connect Mortgage Group to pay proc fees on offer

    21 Apr 2008

    Connect Mortgage Group is offering to pay procuration fees to its 460 members when the mortgage is offered rather than the industry norm of after completion. Tony Webster, chief executive officer at Connect, says: “The credit crunch is affecting everyone in the industry and some brokers are finding cash flow extremely tight. Allowing our brokers to receive proc fees some six to eight weeks early will help them significantly. “Historically, we’ve always paid out proc fees ...

  • Connells hits out at BoE plan

    22 Apr 2008

    Connells Survey & Valuation has warned that the Bank of England's £50bn cash injection will have little impact on the high street.

  • Consortium rumoured to be eyeing RBS assets

    24 Apr 2008

    A private equity consortium is being formed to examine a bid for the Royal Bank of Scotland's insurance assets, reports claim today.

  • Cover sales can help brokers survive

    21 Apr 2008

    Gross mortgage lending fell 7% in February compared with the month before and was down year-on-year. This could translate into a downturn in revenues for brokers.

  • Credit Suisse suffers first quarterly loss in five years

    25 Apr 2008

    Credit Suisse reported its first quarterly loss in five years yesterday, citing write-downs of around £2.6bn.

  • Crunch puts the pressure on politicians

    21 Apr 2008

    The news that in March house prices saw their biggest monthly fall since the 1990s was harsh, not only for home owners but also for politicians.

  • CurriculumVitae: Martin Reynolds

    21 Apr 2008

    "My most expensive possessions are my children"

  • Darling and Flint to meet lenders

    22 Apr 2008

    Chancellor Alistair Darling and housing minister Caroline Flint are thought to be meeting lenders today to address the issue of struggling borrowers.

  • Darling commends efforts to ease borrower pain

    22 Apr 2008

    Chancellor Alistair Darling is commending lender efforts to ease borrower pain as a result of the credit crisis, after a summit with lenders.

  • Dear Delia...

    21 Apr 2008

    My client Mark is a qualified reflexologist who set up his own business 10 months ago. He would like to buy a £160,000 flat and has a deposit of £45,000, which is made up of savings and a lump sum from his parents. His business is doing well and he estimates his annual income to be £29,000. Mark has been turned down for a mortgage by his existing lender as he is unable to produce any accounts. Can you help?

  • Distant Star

    21 Apr 2008

    Mole was intrigued to learn that prior to winning The X Factor and becoming a superstar singer, Leona Lewis worked at London-based brokerage Metropolitan Mortgages.

  • Do you think lenders will pass on the BoE's base rate cut to borrowers?

    21 Apr 2008

    Prime Minister Gordon Brown has urged lenders to slash their product rates in line with the Bank of England's 0.25% base rate cut earlier this month. But pressures including rising LIBOR have made it increasingly difficult for lenders to pass on base rate reductions to clients. So, this week Mortgage Strategy asks...

  • Don't cut corners when disclosing fees

    21 Apr 2008

    Sometimes the temptation to break the rules can be too strong and we surrender to temptation. I'm not just talking about breaching the speed limit or bringing more booze than we should through customs - I'm referring to ignoring laws that govern the way firms do business.

  • Don't hold your breath for fresh liquidity

    21 Apr 2008

    At the Council of Mortgage Lenders' recent annual lunch, Steven Crawshaw, chairman of the CML, asked the rhetorical question - what interventions by the tripartite authority, in collaboration with the mortgage industry, could help rather than hinder the market?

  • Edeus stops lending and cuts 50 jobs

    25 Apr 2008

    Edeus today announced that it has stopped lending - resulting in the loss of some 50 jobs.

  • em- strengthens its commercial mortgages offering

    23 Apr 2008

    em- has brought in two time-served bankers with over 60 years experience in commercial lending as well as specialists in commercial administration to sharpen processes its commercial offering.

  • Em-commercial hires commercial team

    23 Apr 2008

    Em-commercial has appointed commercial lending and administration specialists to underpin its commitment to the commercial lending arena.

  • Enhanced proc fees for brokers online

    22 Apr 2008

    A packager is offering enhanced proc fees if brokers submit applications online.

  • Enterprise adds Cheshire Mortgage Corporation to panel

    24 Apr 2008

    Enterprise Broker Services, the mortgage packaging arm of Enterprise Group has added Cheshire Mortgage Corporation to its extended lender panel.

  • Enterprise adds Cheshire Mortgage Corporation to panel

    24 Apr 2008

    Enterprise Broker Services has added Cheshire Mortgage Corporation to its lender panel.

  • Enterprise unveils marketing support

    21 Apr 2008

    Enterprise Group has launched an online marketing toolbox that contains a range of leaflets, flyers, posters and adverts. The material has been designed with compliant text and allows brokers to upload their own brand and contact details. It is digitally printed and can be delivered to brokers' offices within two days. The material focusses on secured loans and debt management solutions.

  • Equity release demand falls

    21 Apr 2008

    Demand for equity release plans fell 16.5% in Q1 this year compared with the previous quarter, Key Retirement Solutions reveals.

  • ERC rated number one for equity release

    21 Apr 2008

    Equity Release Club have been ranked number one out of 22 listed mortgage clubs offering equity release including Premier Mortgage Service, Legal & General, and The Mortgage Alliance.

  • Estate agents' books start to fill up

    23 Apr 2008

    Estate agents can breath a sigh of relief as the number of house hunters on their books improves.

  • Evaluate and I-nvent launch backoffice integration

    21 Apr 2008

    Evaluate has integrated with I-nvent’s I-MAPS back office processing system for secured loans and residential, buy-to-let and commercial mortgages.

  • Expert warns BoE bond swap may not appeal

    21 Apr 2008

    An investment expert has cast doubt on the effectiveness of the government's plan to swap mortgage-backed securities for government-guaran- teed bonds.

  • First-time buyers need more savings

    24 Apr 2008

    The rising cost of living is making it difficult for first-time buyers to save for a deposit.

  • FSA appoints senior adviser to Northern Rock panel

    23 Apr 2008

    The Financial Services Authority has appointed Naguib Kheraj as senior adviser to the Supervisory Enhancement Programme, reporting directly to Hector Sants, chief executive of the FSA.

  • FSA bans NI mortgage broker

    22 Apr 2008

    The Financial Services Authority has banned a mortgage broker based in Northern Ireland for failing to prevent mortgage fraud.

  • FSA issues data security warning

    24 Apr 2008

    The Financial Services Authority has urged firms to change their attitude to data security and do more to protect customers from identity fraud.

  • Future stays in secured loans

    21 Apr 2008

    Future Mortgages has decided to stay in the secured loans market and is accepting cases again. Ian Warrilow, head of secured lending at Future, says: "We are back to where we were and accepting applications."

  • GMAC-RFC will cut 280 jobs

    21 Apr 2008

    GMAC-RFC will cut its workforce by 280. The job losses are aimed at reducing its cost base, which the lender says is essential if it is to remain competitive. Last October GMAC-RFC cut 200 jobs and made a further 66 staff redundant by closing its direct-to-consumer arm High Street Home Loans.

  • Goldsmith appointment

    21 Apr 2008

    Goldsmith Williams has appointed Andy Milburn, former IFA marketing manager at Royal Liver, to replace Alan Dring as head of marketing.

  • Good news for TFC Homeloans

    21 Apr 2008

    TFC Homeloans reports an increase in business volumes of around 30% in the past month. The lender, part of the Orbiter Group, says applications have risen by nearly 90% since December 2007.

  • Government goes some way to boosting liquidity

    21 Apr 2008

    Apologies for the radio silence for a week but things have been a bit crazy in the wonderful world of mortgages.

  • Guarantee boosts business at c2

    21 Apr 2008

    C2-Financial last week reported a 40% rise in business from brokers in the first four months of 2008 as a result of its proc fee guarantee. The packager has set aside £250,000 to fund the scheme. It says many brokers have been left out of pocket recently by packagers closing down.

  • Halifax branded decrepit, derelict and rundown

    21 Apr 2008

    The town of Halifax has proved to be the least popular among home movers, claims research by Moveme.com.

  • Hard Change

    26 Apr 2008

    Today I thought I would share my unedited column that I wrote for Money Marketing.Apart from the fact it means I don't have to think of anything else to write, I think it is important to reiterate these points in the ever-changing market we now face....

  • Has your relationship with lenders improved or worsened in the past few months?

    23 Apr 2008

    A lot has happened in the past few months, brokers and lenders have had to adapt to the changing market, but has this improved or hindered their relationship? Andy Moody from Loanoptions.co.uk and Dan Gale from Help Personal Finance go head to head with their views.

  • Heritable switches processing to Newcastle

    23 Apr 2008

    Heritable Bank has switched the processing of its current and new savings books to Newcastle in a strategic overhaul.

  • Home improvements drive equity release demand

    22 Apr 2008

    A survey has revealed home improvement is the most common reason why home owners consider equity release.

  • Homebank to grow sales force

    21 Apr 2008

    Homebank Financial Services is expanding its sales team following a rise in its number of enquiries. The broker says it is reaping the benefits of investing heavily in automating its administration and processing systems.

  • HSBC challenges lenders and brokers

    21 Apr 2008

    Turbulence continues to blight the mortgage market. Rates are up despite the Bank of England's decision to cut the base rate this month, deals are being pulled and mortgage firms are falling by the wayside.

  • In The Long Run

    21 Apr 2008

    Beset by knee problems while training for the London Marathon, e-Conveyancer's Vanessa Blount (pictured) confessed to Mole last week that she was beginning to lose the plot as the big day drew near.

  • Is hsbc's rate matcher initiative likely to be a further blow to brokers?

    21 Apr 2008

    The features of the range mean it will only be available to a limited number of borrowers so brokers should not worry, say our experts

  • Jeanette Harwood

    22 Apr 2008

    The OFT gets tough on consumer credit licensing

  • Jobs for the boys as brokers suffer

    21 Apr 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

  • JP Morgan says 40,000 City jobs will go

    21 Apr 2008

    JP Morgan predicts 40,000 City jobs will be lost over the next two years because of the credit crunch's impact on the financial services sector.

  • KGB Packaging asks lenders to declare position

    21 Apr 2008

    Following ongoing lender closures, KGB Packaging is appealing to mortgage lenders to declare their intentions with regard to remaining active in the UK mortgage market and supporting the intermediary distribution route.

  • KGB sees 30% increase in broker applications

    23 Apr 2008

    KGB Packaging, a member of the Regulatory Alliance of Mortgage Packagers has seen an increase of 30% in volumes of cases submitted by brokers over the last month, compared with the average for 2008 so far.

  • KGB sees 30% rise in volume

    23 Apr 2008

    KGB Packaging has seen a 30% rise in the volume of cases submitted by brokers during the past month, compared with its monthly average for 2008 so far.

  • Landlords could flee London

    21 Apr 2008

    Fitch Ratings is warning that the heavy presence of buy-to-let borrowers in urban centres could trigger a deterioration in the wider market.

  • Landlords retain property despite tax cut

    24 Apr 2008

    Few buy-to-let landlords will take advantage of this month's Capital Gains Tax cut, says a Royal Institution of Chartered Surveyors report.

  • Landlords told to release equity now

    21 Apr 2008

    Cardiff-based property financier Kingswood Associates is calling on landlords to release equity from their properties before it's too late. It says it has become harder for them to refinance because of the credit crunch. John Phillips, managing director of Kingswood, says: "As the market tightens landlords must raise the finance they need quickly." He adds that by using the equity built up in recent years landlords can grow their portfolios as prices fall.

  • Leadbay slashes LTVs on leads

    21 Apr 2008

    Leadbay has reduced the LTVs on its leads for the second time in two months and is insisting that borrowers have realistic deposits that lenders are likely to accept.

  • LeadPoint launches payday loan leads

    22 Apr 2008

    LeadPoint is branching into pay day loan leads in the UK, following its success in the US.

  • Lenders are playing with fire by not supporting brokers

    21 Apr 2008

    Having been in the financial services industry for nigh on 20 years I've seen plenty of changes, panics and crashes. Things eventually stabilise and life goes on.

  • Lenders continue to cut packager panels

    23 Apr 2008

    Lenders are continuing to cut their packager panels, in a bid to control distribution.

  • Lenders should be fair now because they will need brokers again one day

    21 Apr 2008

    I was interested to read Scott Swift's letter in the April 7 issue of Mortgage Strategy. I share Swift's frustration with the way Royal Bank of Scotland Intermediary Partners' First Active brand has changed its retention policy but unfortunately, this is just the tip of the iceberg - lenders simply don't need brokers as much as they did before the liquidity crisis.

  • Lenders still can't get KFIs and offer letters right

    21 Apr 2008

    I was interested to read the letter from Rob Stead in the April 14 issue of Mortgage Strategy on how brokers are sick of wasting time hanging on the phone to lenders.

  • Lenders urged to declare plans

    21 Apr 2008

    KGB Packaging is calling on lenders to declare whether or not they intend to commit to active lending so that packagers can plan for market recovery.

  • Let's be honest about service levels

    21 Apr 2008

    There's a growing perception among brokers that in this difficult period when they are struggling to secure rates for their clients, lenders are delivering poor service.

  • Link Lending appoints new finance member

    23 Apr 2008

    Link Lending Limited has appointed former Nissan Finance GB Limited worker, Stuart Giles, to join its team.

  • Loan Ranger

    22 Apr 2008

    Find out why a recent trip to the Ritz attracted a few more guests than expected, and why no publicity is bad publicity for Future Mortgages.

  • London Scottish ceases secured loan business

    24 Apr 2008

    London Scottish Bank has ceased writing new secured loan business, but will continue to write small volumes of new first-charge mortgages.

  • London Scottish to cease mortgage lending

    25 Apr 2008

    London Scottish Bank has announced that it will shut down its lending division.

  • LUXMedia directors set up specialist packager

    21 Apr 2008

    The directors of finance marketing agency LUXMedia have joined forces to launch specialist packager White Label Money.

  • Market fears see LIBOR review brought forward

    21 Apr 2008

    The British Bankers' Association has brought forward a review of how it sets LIBOR thanks to industry fears that the system isn't working.

  • Market Watch 21 April 2008

    21 Apr 2008

    Swaps had a mixed week but rates went in one direction and that was up.

  • MfB expands team

    21 Apr 2008

    Mortgage for Business expands staff at business-to-business operation.

  • Moneysupermarket.com reports 30% revenue rise

    22 Apr 2008

    Moneysupermarket.com has reported a 30% rise in group revenues during Q1 2008 in an interim management statement.

  • Moody's puts RBS on downgrade watch

    22 Apr 2008

    Moody's has put the Royal Bank of Scotland on review for possible downgrade.

  • More apprehension from first-time buyers

    23 Apr 2008

    While buyers and sellers go about business as normal first-time buyers are still holding back.

  • Mortgage approvals drop 18% in March

    23 Apr 2008

    New mortgage approvals for house purchase dropped 18% in March compared to February, says the British Bankers’ Association.

  • Mortgages for Business expands B2B operation

    21 Apr 2008

    Mortgages for Business has expanded its business to business operation and has hired Mike Freeman to manage its mortgage technical desk and deal placement team.

  • Mortgages for Business offers £100 to TMO brokers

    22 Apr 2008

    Mortgages for Business is offering abandoned TMO brokers the opportunity of £100 cash back on completion if cases are submitted through Mortgages for Business before 30 April 2008. Nick Blunt head of business partner development at Mortgages for Business, says: “We are happy to offer this unique opportunity to any TMO brokers who have found themselves in a difficult predicament at this uneasy time in the market. "Mortgages for Business is in a unique position in that we ...

  • MortgageStream is brokers' favourite

    25 Apr 2008

    A brokers’ forum has voted MortgageStream as the number one mortgage case management software.

  • Mosaic sales appointment

    21 Apr 2008

    Mosaic Mortgage Club has appointed Amanda Gurley-Jones to the position of sales and operations manager. She will manage its lender panel and BDM sales force and co-ordinate the mortgage club's brand.

  • Most readers fear lenders will abandon brokers

    21 Apr 2008

    Some 68% of Mortgage Strategy Online's readers think that lenders will start to cut brokers out of their mortgage business.

  • NAEA calls for perspective on house price gloom

    21 Apr 2008

    The National Association of Estate Agents has called for perspective after the bleakest house price survey from the Royal Institution of Chartered Surveyors for 30 years was published.

  • Network aims to enlist 200 brokers

    21 Apr 2008

    Norton Broker Services hopes to enlist 200 brokers during the first year of its secured loans packager network's operations. The firm says it wants to bring stability to the secured loans market.

  • Networking site for brokers

    21 Apr 2008

    Brokers looking to network with their peers or packagers and master brokers trying to source customers can now use a Facebook-style website to get in touch.

  • Newcastle extends bridging options

    25 Apr 2008

    Newcastle has extended its bridging products to offer a faster option for buy-to-let investors.

  • NLA and TBMC team up to offer sourcing system

    21 Apr 2008

    The National Landlords Association and The Business Mortgage Company are launching a service that all- ows landlords to source buy-to-let mortgage deals.

  • No reward for justifying TMB's product changes to client

    21 Apr 2008

    Having secured an agreement in principle for one of The Mortgage Business' House 2 House products in January, my client wants to proceed with the deal.

  • Northern Rock to reduce SVR from May 1

    25 Apr 2008

    Northern Rock is cutting its SVR by 0.10% to 7.49% for exisiting borrowers.

  • NR shareholders poised to launch legal action

    24 Apr 2008

    A legal battle between Northern Rock shareholders and the government took a step closer yesterday after Treasury lawyers rejected investor pleas for fair compensation.

  • NR to submit business plan to government

    25 Apr 2008

    Northern Rock will submit its business strategy to the government next week in a move that will kickstart a 90-day consultation process with staff.

  • OFT wins first step in overdraft fee test case

    24 Apr 2008

    The Office of Fair Trading has won the first step in its landmark test case against banks over unfair overdraft fees.

  • Paaleads.com filters out 96% LTV cases

    22 Apr 2008

    Paaleads.com has introduced a temporary LTV filter of 96% and above to help brokers.

  • Packager usage up 5% in 2008

    24 Apr 2008

    Independent research from NMG Financial Services Consulting shows that packager usage is 5% higher in Q1 2008 than it was the same time in 2007.

  • Patrick Bamford, managing director of UNIFi Partners

    22 Apr 2008

    When I was asked to write a blog for the Loan Distributor website I immediately said yes but then realised that whilst I'd heard of the term 'blog' I didn't actually know what it meant.

  • Persimmons postpones all future developments

    24 Apr 2008

    Persimmons has postponed all future developments until the mortgage market improves.

  • Pink guarantees fees

    21 Apr 2008

    Pink Home Loans has given brokers a proc fee guarantee once a deal has been completed.

  • Play your part in the green revolution

    21 Apr 2008

    The sun has started to make an appearance over the past couple of weeks and people are emerging from their winter slumber.

  • PM must tackle the liquidity crisis now

    21 Apr 2008

    For years UK lenders tried to develop retention models to keep remortgaging borrowers on their books but thanks to the US-born liquidity crisis and the resulting credit crunch the Yanks have managed to do it overnight.

  • PMPA to boost member due diligence

    25 Apr 2008

    The Professional Mortgage Packagers Alliance has revealed it will enhance its due diligence to instil confidence in brokers.

  • PNG teams up with debt firm

    21 Apr 2008

    Premier Network Group has linked up with TCF Debt Solutions. Under the deal PNG has been awarded key partner status, allowing its members access to TCF's debt advisory service.

  • Pritchard deserves praise for taking tough decision

    21 Apr 2008

    It's hard to find words to describe what our industry is going through, particularly the packaging sector.

  • Proc fee changes good for packagers

    23 Apr 2008

    Making proc fee adjustments is good news for packagers says Mortgages for Business.

  • Promise adds quick quote feature to website

    22 Apr 2008

    Promise Solutions has added a quick quote facility to its secured loans sourcing, underwriting and packaging proposition.

  • Promise Finance goes into administration

    21 Apr 2008

    Promise Finance became the latest victim of the credit crunch last week after it went into administration late last Friday evening, shedding up to 70 jobs in the process.

  • Promise Solutions adds Quick Quote facility

    22 Apr 2008

    Promise Solutions, the technology led secured loans master broker, has now added a quick quote facility to its secured loan sourcing, underwriting and packaging proposition.

  • Promise unveils website

    21 Apr 2008

    Promise Homepacks has launched a website with a pricing matrix for consumers and estate agents. The website features case tracking and a simplified process for ordering Home Information Packs.

  • PTP shuffles pack to survive crunch

    21 Apr 2008

    Personal Touch Packaging has reshuffled its senior management team and advises packagers to move away from sub-prime to survive the credit crunch.

  • RBS confirms rights issue may be imminent

    21 Apr 2008

    Royal Bank of Scotland has this morning confirmed it is considering conducting a rights issue.

  • RBS defends £12bn rights issue

    22 Apr 2008

    The Royal Bank of Scotland has defended its decision to launch an unprecedented £12bn rights issue today.

  • RBS to distribute shares

    25 Apr 2008

    RBS directors will meet next month to distribute shares connected to its recent rights issue.

  • Recession virgins worried about negative equity

    21 Apr 2008

    Nearly 25% of home owners between the ages of 24 and 34 are fearful of negative equity as a result of falling house prices, says Fool.co.uk.

  • Response to the Bank of England special liquidity scheme

    21 Apr 2008

    The new special liquidity scheme from the Bank of England does absolutely nothing for the specialist lenders hardest hit by the credit crunch and little more for the building society sector - a fact highlighted by Michael Coogan, director general of the CML.

  • Rhyme Time

    21 Apr 2008

    It’s great to see that despite the woes caused by the liquidity crisis, some industry professionals are trying to stay positive.

  • Rich clients still get what they want

    21 Apr 2008

    The base rate cut won't solve the problems working and middle class mortgage customers face and only wealthy borrowers remain unaffected by the credit crunch, says Sue Read

  • Richard Griffiths would do well to mind his own business

    21 Apr 2008

    I am writing with regard to the league table of mortgage networks printed in the April 7 issue of Mortgage Strategy, and the associated comment by Rich-ard Griffiths.

  • Rightmove reports end of climbing house prices

    22 Apr 2008

    Rightmove is reporting the end of a decade of rising house prices.

  • Rooftop RMBS not hit by closure

    21 Apr 2008

    Fitch Ratings says residential mortgage-backed securities issued by Rooftop Mortgages and its RMBS firms Farringdon Mortgages and Mansard Mortgages are unlikely to be affected by the firm's closure.

  • Rumours over RBS rights issue

    21 Apr 2008

    The Royal Bank of Scotland is rumoured to be preparing a rights issue for up to £12bn to bring its capital holdings up to the European average. Last week the lender's broker arm RBS Intermediary Partners launched a two-year fixed rate product at 6.195% with a £999 arrangement fee.

  • Sally Laker

    22 Apr 2008

    It’s funny how we often use the words interesting or challenging when what we actually mean is downright difficult. Certainly there can be no doubt that we are going through a difficult period and it is not just one sector of the mortgage market that is under pressure. At such a time it is easy to become introverted, when a wider perspective and more collaborative approach would service us all better.

  • Salt retains Complete on packager panel

    23 Apr 2008

    Salt has retained Complete Mortgage and Loan Services as one of its select group of packagers, following a reorganisation of its packager panel.

  • Six out of 10 mortgages go to just three lenders

    22 Apr 2008

    Up to six out of 10 mortgage applications are going to just three lenders, as fewer firms are in a position to offer the best deals.

  • SMS secures proc fee payments

    21 Apr 2008

    Solent Mortgage Services has revealed that proc fees earned by brokers will be paid into independent bank accounts and won't be used as cash flow by the packager.

  • SMS to meet about redundancies on Thursday

    21 Apr 2008

    Solent Mortgage Services has confirmed that it will be announcing redundancies later this week.

  • Software firm appointment

    21 Apr 2008

    Home Buyer Systems has appointed Alison Griffiths to head its outsourcedcompliance and monitoring system for brokerages and networks.

  • South West reigns supreme for second month

    21 Apr 2008

    Propertyfinder.com says the South West has continued to be the most searched region for the last two months running.

  • Specialist lenders left out in the cold by BoE

    21 Apr 2008

    Industries trade bodies are concerned that specialist lenders have been left out of the Bank of England's £50bn liquidity lifeline.

  • Sticking to the KFI rules is tough in a volatile market

    21 Apr 2008

    In current market conditions I foresee a problem with meeting the Financial Services Authority's requirement that all clients must receive fully compliant Key Facts Illustrations prior to completing applications.

  • Stock Picker

    21 Apr 2008

    Banking shares rallied last week as the government announced it was working on a scheme to enable banks to swap mortgage-based ass-ets for government bonds.

  • Switchers face fee shock

    21 Apr 2008

    Application fees on best buy fixed rate mortgages have almost doubled in the past year.

  • TFC sees nearly 3,000 applications from Gravity

    24 Apr 2008

    Since the launch of its online mortgage decision and case processing system, Gravity, TFC has received nearly 3000 mortgage applications.

  • The 25-year trap

    21 Apr 2008

    The government wants clients to take out long-term deals but a one-size-fits-all approach won't work and many consumers aren't interested in long and binding contracts, says Mark Skinsley

  • The Bank of England special liquidity scheme in detail

    21 Apr 2008

    Under the Bank of England scheme, announced on 21 April, to ease the credit crisis, banks can, for a period, swap illiquid assets of sufficiently high quality for Treasury Bills. Responsibility for losses on their loans, however, stays with the banks. By tackling the overhang of assets in this way, the scheme aims to improve the liquidity position of the banking system and increase confidence in financial markets.

  • The survivors will inherit the market

    21 Apr 2008

    At the end of March it was gratifying to announce to the market that we hadn't gone into administration and had actually enjoyed a record month.

  • Three MPC members voted against rate cut

    23 Apr 2008

    The minutes from this month’s Monetary Policy Committee reveal three members voted against the 0.25% rate cut.

  • Time to toss the FSA rule book on the bonfire of the vanities!

    21 Apr 2008

    Defending our system of mortgage regulation against the threat of even more rules and red tape from the European Union, Michael Coogan, director general of the Council of Mortgage Lenders, used to argue that we had one of the most competitive and innovative mortgage markets in the world, if not in the entire universe.

  • Tiuta launches tracking system

    21 Apr 2008

    Tiuta has launched an online case tracking system that allows brokers to check the status of their clients' bridging loans.

  • Tiuta to host bridging seminars

    24 Apr 2008

    Bridging loans company Tiuta is to share its expertise at a broker seminar in June.

  • TMC makes it onto top 100 profit list

    21 Apr 2008

    The Money Centre placed 38 in The Sunday Times' latest national league table of the top 100 UK firms with the fastest growing profits.

  • Top four UK lenders face £37bn shortfall, says JP Morgan

    21 Apr 2008

    American investment bank JP Morgan warns that the UK’s four largest lenders face a combined capital shortfall of £37bn, with earnings shrinking by up to 35% if they do not confront the losses.

  • UNIFi adds Halifax to panel

    22 Apr 2008

    UNIFi Partners has added Halifax to its unsecured loans portal.

  • US lenders rumoured to be pulling out

    21 Apr 2008

    Rumours are rife that Preferred Mortgages, Southern Pacific Mortgage Limited and Mortgages PLC will cease trading within weeks.

  • Vision gets green light to sell protection

    23 Apr 2008

    The Financial Services Authority has given Vision Network permission to sell protection products.

  • Warning over agency losses

    21 Apr 2008

    The director of one of the UK's largest estate agency networks has predicted that 4,000 estate agents will close within a year because of market pressures.

  • When it is going to all end?

    22 Apr 2008

    Andy Moody, managing director, Loanoptions.co.uk

  • Woolwich seems to be turning its back on loyal brokers

    21 Apr 2008

    I would like to draw readers' attention to a recent move by Woolwich.

  • Wyles takes aim at new lenders

    21 Apr 2008

    That's the damning verdict of Matthew Wyles, non-retail director at Nationwide.

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