Mortgage Strategy
22 January 2007

  • Britannia sticks with fixes

    22 Jan 2007

    Britannia has pledged not to take any of its fixed rate products off the market despite the recent hike in interest rates.Tim Franklin, director at Britannia, says: "While other lenders have been pulling their fixed rate products following the latest increase in the base rate, we have decided not to follow their lead."

  • Commercial First appointment

    22 Jan 2007

    Commercial First has appointed Nick McAuliffe as associate director of customer operations.

  • English housing agency proposed

    22 Jan 2007

    The government has unveiled proposals for an agency to cover regeneration and housing in a big shake-up of the way it supports the delivery of new homes in England.The proposed agency - Communities England - will bring together the functions of English Partnerships, the Housing Corporation and some work done by the Department for Communities and Local Government.

  • Fixing now could be false economy

    22 Jan 2007

    Taking out a fixed rate deal to escape the threat of further interest rate rises could be a false economy, warns My Mortgage Direct. The brokersays customers may be opting for fixed rates to avoid getting into difficulty after the recent base rate rise. But it says holding out with a good tracker deal could be a sensible option until more attractive fixes are back on the table.

  • InterBay boosts sales team

    22 Jan 2007

    InterBay has strengthened its sales team with three business development managers. Nicola Masterson will cover Essex and Suffolk, Sally Williamson will be responsible for Northern Ireland and Andy Jones will be BDM for Lancashire and Cheshire.

  • New magazine on distribution

    22 Jan 2007

    Mortgage Distributor, a new monthly magazine focussing on mortgage distribution, is launched today by the publishers of Mortgage Strategy.

  • Packager Summit will bring top players together

    22 Jan 2007

    Mortgage Strategy's Packager Summit in Nice will play host to the crème de la crème of the packaging community this week. Some 85 delegates will be attending the conference, the main sponsor of which is The Mortgage Business, along with 16 other providers. The programme includes talks on the future of the packaging market, the impact of technology and what the future holds for packagers and the specialist market in general. There will be a host of workshops and social ...

  • Tudor does online applications

    22 Jan 2007

    Packager Tudor Mortgages has revealed that it now offers online applications for over 20 of the lenders on its panel.

  • A better way to solve the housing crisis

    22 Jan 2007

    Surely last week's best story was about the house that was bought for 50p in 1999 and sold recently for 145,000. It's one of those stories that you have to pinch yourself and read twice. But it is true and it contains a message.

  • A different way of ranking networks

    22 Jan 2007

    For some time, intermediaries and lenders have been asking when a table will be printed that looks at all networks rather than just the ones that have mortgage and protection authorisation from the regulator.

  • A&L launches new range

    23 Jan 2007

    Alliance & Leicester has launched a new range of prime mortgages today.

  • Abbey revise fixed rate range

    23 Jan 2007

    Abbey has made changes to the rates on its existing fixed rate mortgages, as well as launching two new deals.

  • Advantage sales appointment

    22 Jan 2007

    Advantage has appointed Nick Parker as regional sales manager for the Midlands. He will be responsible for building relationships with mortgage brokers and achieving sales targets.

  • Advice scheme is welcomed

    22 Jan 2007

    Brokers have welcomed the government's move to introduce a free financial advice service, saying it is likely to help boost their profits.

  • AHIPP launches code of practice

    22 Jan 2007

    The Association of Home Information Pack Providers has launched a HIP code of practice ahead of the introduction of the packs on June 1. All those involved in the provision of HIPs are invited to sign up to the code and consumers will be encouraged to use providers that display the code logo in their windows and on stationery.

  • Anti-HIP campaigners petition Blair's website

    22 Jan 2007

    Campaigners against the introduction of Home Information Packs have hit Prime Minister Tony Blair with a 2,500 strong petition as they look to derail the nationwide introduction of HIPs in June.

  • AToM introduces new three-year fixed rate

    25 Jan 2007

    All Types of Mortgages has launched a self-cert three-year fixed rate from Kensington Mortgages.

  • Bad weather could hit homes, warns Saga

    25 Jan 2007

    Saga is urging homeowners to protect their properties against bad weather conditions as extreme weather is expected to hit Britain this week.

  • Banco Halifax cuts euro rates

    22 Jan 2007

    Banco Halifax Hispania has cut the rate on its variable euro mortgages.Repayment mortgage rates of 4.63% for loans up to 60% and 4.73% for loans up to 70% LTV are now available.

  • Base rate hikes make protection vital

    22 Jan 2007

    Although it was not anticipated for another few months, the Bank of England has hit us with an early interest rate rise of 0.25 percentage points, taking the interest rate to a five and a half year high of 5.25%.

  • Base rate rise tight call

    24 Jan 2007

    The decision to raise interest rates in January was a tight call with members of the Monetary Policy Committee voting 5-4 to raise the base rate to 5.25%.

  • BBA reports December mortgage lending of £18.1bn

    26 Jan 2007

    The British Bankers Association has revealed that December’s gross mortgage lending was £18.1bn, 7% more than the £16.9bn in December 2005.

  • BDM of the week

    22 Jan 2007

    Focus and perseverance are important traits when it comes to BDMs, and Paul Choksey has these qualities in abundance, says Paul Buckner

  • BDS adds New Life to panel

    25 Jan 2007

    BDS Mortgage Group has added New Life, the lifetime mortgage specialist, to its packaged lender panel. This equity release lender is a member of Safe Home Income Plans and has been writing mortgages since 2004.

  • Beat the January financial blues

    22 Jan 2007

    To help combat the January spending hangover, uSwitch.com has teamed up with financial expert Cesarina Holm Kander, presenter of Channel 4's Your Money or Your Wife.The aim is to develop some practical tips on how consumers can recover from the January blues and take control of their finances.

  • Blunkett says estates should be bulldozed

    22 Jan 2007

    Former home secretary David Blunkett has called for some problem housing estates to be bulldozed.

  • BoS email included misleading marketing material on deals

    22 Jan 2007

    From Peter Stokes

  • Bright Grey appointment

    22 Jan 2007

    Bright Grey has appointed Gordon Watson as head of customer care operations. He will assume responsibility for all customer service and underwriting functions.

  • Bright Grey expands sales team

    26 Jan 2007

    Bright Grey has appointed four new sales consultants to its sales team.

  • British Insurance offers PPI online

    22 Jan 2007

    Britishinsurance.co.uk has launched a new website, which it says will massively increase intermediaries earnings potential from payment protection insurance.

  • Britons save as much as they spend

    23 Jan 2007

    Britons saved almost 32bn in the last three months but for every pound saved they are borrowing 49p, reveals unbiased.co.uk.

  • Brokers call for post-retirement trail commission

    23 Jan 2007

    The majority of members of the Association of Mortgage Intermediaries believe insurance providers should continue to pay trail commission even though the firm or the adviser had retired.

  • Brokers could ride remortgaging wave

    22 Jan 2007

    Even after last week's surprise increase in interest rates, many commentators believe the Monetary Policy Committee's work is not yet done. They say that rates may have to rise to at least 5.5% to keep inflation under control.

  • Brokers oppose AVM premiums

    22 Jan 2007

    Some 69% of brokers say there should be no premium charged for the use of automated valuation models.

  • Brokers remain confident despite base rate rise

    22 Jan 2007

    Confidence is still high in the mortgage market judging by last week's straw poll, even after the base rate rise.

  • Brokers say packagers will rise to the direct challenge

    22 Jan 2007

    Despite research predicting threequarters of future growth in the sub-prime market will be through the direct-to-broker channel, lenders say packagers will still have a place in the mortgage market.

  • Brokers warned not to miss the HIP bandwagon

    22 Jan 2007

    Mortgage Advice Bureau has expanded its sales force with the appointment of a regional sales director for the Midlands and two area sales managers for the south of the UK.

  • Brokers warned not to miss the HIP bandwagon

    22 Jan 2007

    With the imminent launch of Home Information Packs in June this year, fears abound that brokers who are not involved in the scheme will see a fall in revenue.

  • Buyout trouble grows at Countrywide

    22 Jan 2007

    Another Countrywide shareholder added its name to the growing list of investors coming out against the proposed buyout of the estate agency by 3i last week.

  • Changes pay off for TBMC as business grows by 40%

    22 Jan 2007

    The Business Mortgage Company has reported a whopping 40% growth in its business in 2006 compared with the previous year.

  • Charitable business launched

    22 Jan 2007

    Two former John Charcol brokers John Mulkerrin and Kevin Macadam have launched Quotes4Charity, the first financial services community interest company.CICs are limited companies for people who want to use the profits of a business to benefit the community.

  • Chelsea changes fixed rate deals

    22 Jan 2007

    Chelsea has changed its fixed rate mortgage products following the recent rise in the base rate.All the lender's two-year fixes, buy-to-let, self-cert, and fees-assisted remortgage products will be increased by 0.4%.All standard three-year fixed rates including helping hand and fees-assisted remortgages will be increased by 0.10%. Chelsea's three-year buy-to-let fixed rate will be increased by 0.15%.

  • CHL extends B2L deals on back of record sales

    22 Jan 2007

    CHL Mortgages says record demand for its fixed-rate buy-to-let mortgages has prompted it to extend the life of two specific products so brokers can get their applications in on time. The lender says it has received calls from hundreds of intermediaries concerned that their clients may miss out on the 5.59% fixed-rate products, which were due to be withdrawn this week.

  • CHL raises B2L limit to 5m

    22 Jan 2007

    CHL Mortgages is continuing its aggressive stance towards the buy-to-let market with the extension of its lending limit to 5m.

  • Citigroup set to buy ABN AMRO Mortgage Group

    23 Jan 2007

    ABN AMRO Bank has signed an agreement with Citigroup to sell its US-based residential mortgage brokerage ABN AMRO Mortgage Group.

  • Citigroup snaps up ABN Amro's mortgage business

    22 Jan 2007

    US banking heavyweight Citigroup is buying ABN Amros mortgage business, as it looks to strengthen its consumer lending arm.

  • Commercial First introduces submission checklist

    22 Jan 2007

    Commercial First has introduced a submission checklist to improve speed and accuracy in the submission of packaged mortgage applications.

  • Compensation reminder

    22 Jan 2007

    The Financial Services Compensation Scheme last week reminded consumers that they can claim compensation of up to £48,000 if they have lost money as a result of their dealings with any one of 24 firms it has declared to be in default.

  • Council Tax could rise by 3.9%, warns LGA

    22 Jan 2007

    Council Tax bills could rise by 3.9% in certain areas from April 2007 according to a survey by the Local Government Association.

  • Coventry improves B2L lending policy

    22 Jan 2007

    Coventry has made significant improvements to its buy-to-let lending policy with immediate effect.

  • Curbing inflation may cause financial stress

    22 Jan 2007

    The theory behind the latest base rate rise is that inflation is running at a higher level than the Monetary Policy Committee would like.

  • CurriculumVitae

    22 Jan 2007

    "A formal meeting over tea in an opulent room seemed to be going well until my mobile phone rang."

  • D&D Homecare appoints new senior manager

    23 Jan 2007

    D&D Homecare, the general insurance arm of Swansure Group, has appointed John Prentice to its senior management team.

  • Darce appoint Abbeys top surveyor

    23 Jan 2007

    Yorkshire estate agent, Dacre, Son & Hartley, has appointed Eric Leiper as head of residential surveying department. Formerly manager of survey operations at Abbey, Leiper was involved in many exciting projects including the development of Abbeys range of Adaptable Homes.

  • DCLG will persevere with HIPs, says eConveyancer

    26 Jan 2007

    eConveyancer says the publication of new Home Information Pack guidelines show the government's intentions to forge ahead with the controversial legislation.

  • Dear Delia

    22 Jan 2007

    Mr Clements is a small builder who wants to buy a property to let out to students. The property has six bedrooms, a kitchen and a bathroom. It is in some disrepair and although it is fine structurally, a new kitchen, bathroom and general decoration is required before it can be let out. The fact that it is not in a state to let out at the present time means that the rental assessment from a valuer would be insufficient to support the advance he requires. What are his options?

  • Debt grows at £250,000 per minute

    22 Jan 2007

    The UK's national debt mountain is growing by £250,000 per minute, a study by Credit Action reveals. The report, based on Bank of England statistics, shows the national debt to be standing at £1.278trillion, of which mortgages account for £1trillion.

  • Duke steps down as chairman of Grosvenor

    22 Jan 2007

    The Duke of Wetminster, one of Britains wealthiest men, is to step down as chairman of his property development company Grosvenor.

  • Edeus delivers first 24-hour remortgage

    22 Jan 2007

    Edeus last week delivered the first 24-hour remortgage completion on its London & European instant funds service with John Charcol.

  • EDGE success for Enterprise

    22 Jan 2007

    Enterprise Group says its EDGE system now has over 2,100 registered users and is receiving more than 150 enquiries a day. In the last quarter of 2006 Enterprise ran a campaign whereby applications sourced through EDGE qualified for a free administration fee which includes the cost of valuation, for all products and all lenders. As a result, Enterprise has seen a 50% jump in new business and a 25% rise in the average loan size it deals with.

  • EPC can tackle climate change, says NHER

    26 Jan 2007

    The National Home Energy Rating scheme says the Energy Performance Certificate is a good way to help tackle climate change and promote energy efficiency.

  • Equity Advice unveils strategic partnership

    25 Jan 2007

    Equity Advice, the national referral service for professional introducers, has unveiled a strategic partnership with Cotswold Mortgage Services.

  • Equity release brokers must qualify or lose out, warns KRS

    22 Jan 2007

    Key Retirement Solutions has called on equity release brokers to act now and get qualified to advise on home reversions or risk being caught out when regulation starts on April 6.

  • EU likely to regulate Packagers

    25 Jan 2007

    Mortgage packagers could find they become regulated as a result of the European Union attempts to harmonise mortgage market.

  • Exciting times for commercial deals

    22 Jan 2007

    This seems an appropriate time to reflect on 2006 and consider what changes we can expect to see in 2007.

  • Focus Solutions launches front-office propositions

    26 Jan 2007

    Focus Solutions Group has unveiled a series of propositions for the life, pensions, investments and mortgage markets.

  • FSA bans IFA from doing business

    25 Jan 2007

    The Financial Services Authority has banned independent financial adviser, George Robert Piggott, from all regulated activities in the financial services industry.

  • FSA could mystery shop equity sector again

    22 Jan 2007

    Pundits are predicting more mystery shopping exercises in the lifetime mortgage sector following criticism from the regulator that advice is still not up to scratch.

  • FSA denies BBC claims

    22 Jan 2007

    The Financial Services Authority has denied claims that a number of banks and lenders are to be fined around 1m for mis-selling payment protection insurance.

  • FSA gets serious about compliance

    22 Jan 2007

    The regulator taking action against non-compliant mortgage firms after a sector review should remind us that when the FSA looks into a subject it means business, says Bill Warren

  • FSA must name and shame, says Which?

    26 Jan 2007

    Which? says the Financial Services Authority should name and shame lenders that won't put a stop to increasing mortgage exit administration fees.

  • FSA net tightens on lazy advisers

    22 Jan 2007

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

  • FSA seeks new chief exec

    22 Jan 2007

    Speculation is mounting over who will inherit John Tiner's crown as chief executive of the Financial Services Authority, after he revealed last week that he would be quitting in July.

  • FSA to crack down on financial crime

    22 Jan 2007

    The Financial Services Authority unveiled a new division to tackle the risks posed by the evolution of financial crime.

  • GHL Group adds Salt to its network lender panel

    22 Jan 2007

    GHL Group has added The Derbyshire's specialist lending brand Salt to its network lender panel.

  • GMAC parent to axe jobs

    22 Jan 2007

    Residential Capital Corporation - the parent group of GMAC Residential - last week unveiled plans to cut 1,000 positions from its lending operations in the US over the next nine months.

  • Goldman Sachs takes 17% stake in Kensington

    25 Jan 2007

    Goldman Sachs has snapped up a 17% stake in Kensington Group on behalf of one or more of its clients.

  • Good time for clients to review deals

    22 Jan 2007

    Virtually everyone was taken by surprise when the base rate rose to 5.25% this month - its highest level in five and a half years.

  • Gordon Bennett! He's losing his grip

    22 Jan 2007

    Interest rates up to 5.25%. Inflation verging on 3%. Mortgage lending at a record high (29.4bn last December and 346bn in 2006). And now the Office of National Statistics says that, for the first time ever, net UK debt as a percentage of GDP is more than half a trillion pounds.

  • Government unveils anti-loan shark projects

    25 Jan 2007

    Chancellor Gordon Brown has unveiled additional funding to enable the national roll out of a scheme to tackle loan sharks, with a project in every region.

  • Halifax agents will use LMS HIPs

    22 Jan 2007

    LMS says it has won the biggest Home Information Pack contract in the market after it signed a deal to provide Halifax Estate Agents with HIPs.

  • Halifax appoints LMS to supply HIPs

    23 Jan 2007

    Halifax Estate Agents has appointed LMS as its preferred supplier of Home Information Packs.

  • Hanover appoints group CEO

    22 Jan 2007

    Hanover House has appointed Bruce Moore as group chief executive, as it looks to expand its services. Moore will work with Hanover's recently appointed chairman Lord Best to grow the business.

  • HBOS appoints mortgage boss

    22 Jan 2007

    HBOS has appointed Joe Higgins as head of mortgages overseeing product development, policies and strategies across the lender's five brands.

  • Help is at hand in the mortgage deals maze

    22 Jan 2007

    The Financial Services Authority has recently commented on the subject of packagers' relationship with brokers, essentially suggesting that brokers do not exercise the necessary diligence when dealing with packagers.

  • Heritable Bank reports mortgage book growth

    26 Jan 2007

    Heritable Bank has reported a 45% increase in its mortgage book in 2006.

  • HIPs should not affect brokers much

    22 Jan 2007

    The Home Information Pack trials seem to be going well but the fact that Home Condition Reports are no longer compulsory means HIPs' impact on brokers will be muted, says Frank Eve

  • Homeowners ill-prepared for big freeze

    26 Jan 2007

    Homeowners are unprepared for extreme cold weather, Lloyds TSB Insurance has warned.

  • House price inflation in Scotland hits 12.5%

    24 Jan 2007

    The Bank of Scotland' s house price index for Q4 2006 reveals that the annual rate of house price inflation in Scotland is now 12.5%.

  • House price inflation to hit 5% in 2007

    23 Jan 2007

    Bank of Ireland's housing market forecast predicts that the average house price inflation will be 5% in 2007.

  • IFS School of Finance launches Certificate in Equity Release

    24 Jan 2007

    The IFS School of Finance is launching a new qualification, the Certificate in Equity Release in order to meet the new regulation requirements of the Financial Services Authority.

  • IN Partnership adopts The Exchanges portal

    26 Jan 2007

    E-commerce provider The Exchange has revealed IN Partnership is to use its Exweb portal on an exclusive basis.

  • Inaugural Packager Summit starts today

    24 Jan 2007

    The inaugural Packager Summit got off to a cold but flying start today in Nice, France.

  • Increased exit fees to face FSA scrutiny

    26 Jan 2007

    Lenders who increase their mortgage exit administration fees beyond that originally quoted to the customer may face investigation, warns the Financial Services Authority.

  • Inflation sparks threat of more rate rises

    22 Jan 2007

    The threat of a further rise in interest rates looms following news that the rate of inflation reached a 15-year high last month.

  • ING Direct supports FSA exit fees measures

    26 Jan 2007

    ING Direct has wecomed the Financial Services Authority’s announcement on mortgage exit and administration fees

  • Inspector Morse prompts Oxford house boom

    24 Jan 2007

    House prices in Oxford have outstripped the regional and national average since the television series Inspector Morse first aired 20 years ago, reveals new research.

  • Is electronic underwriting the way forward for lenders?

    22 Jan 2007

    Automation brings speed to the underwriting process but brokers still value the flexibility of human contact, say our experts

  • Is it worth following the advice of so-called experts?

    22 Jan 2007

    From Brian Humphreys

  • Just Retirement sees 55% increase in equity release business

    24 Jan 2007

    Just Retirements business figures for the six months to December 31 2006 shows growth in equity release advances of 55% quarter-on-quarter.

  • Kaszczak is latest high profile face to join Lehmans

    22 Jan 2007

    Lehman Brothers Mortgage Capital gained another high profile recruit last week with the appointment of Louis Kaszczak to the firm's mortgage division.

  • Keeping up standards in equity release advice

    22 Jan 2007

    Someone recently asked me if I was planning to use the word 'standards' in every article I write this year. Well, I'm not, but if I was I'd be most pleased to drop it in at word number 23 in the second standards - I mean sentence.

  • Kensington drops plans to diversify

    22 Jan 2007

    Kensington Group has ditched plans to move into commercial lending, sparking speculation about its future strategy.

  • Landlords say demand is high

    22 Jan 2007

    Research from Paragon Mortgages reveals that landlords believe tenant demand for rental properties is at its highest rate ever. Almost a third of landlords surveyed stated that demand for rental property is growing or booming. This was an 8% increase over the previous quarter.

  • Landlords shrug off falling returns

    22 Jan 2007

    Despite a record low in rental re-turns, buy-to-let investors are still upbeat about the market.

  • Landlords well placed to handle increased cost of borrowing

    22 Jan 2007

    Landlords will continue to be able to handle their mortgages and have enough headroom to offset further interest rates, new research reveals.

  • Lenders should come clean on fast-tracking

    22 Jan 2007

    I'm convinced that many brokers are confused about what fasttrack is and when it should be used.

  • Lending 5 x salary is far too conservative for Barclays

    22 Jan 2007

    From Simon Collis

  • Lending in 2006 was up 20% on previous year

    22 Jan 2007

    A massive £346bn was lent during 2006, the Council of Mortgage Lenders revealed last week - 20% up on the 2005 figure.

  • Lepine firm shuts up shop

    22 Jan 2007

    First Class Mortgages has gone into administration, leaving more than 45 members of staff out of work.

  • Liquid assets

    22 Jan 2007

    Opportunities for brokers in the boat mortgage market depend on more moorings coming on-stream and a rethink on fees by lenders, says Amanda Hall-Davis

  • Make your mind up time

    22 Jan 2007

    Early results of trials are open to interpretation but Home Information Packs are coming and brokers will either have to battle it out with estate agents or make peace and hope to pick up referral business, says Harvey Jones

  • Marketwatch

    22 Jan 2007

    Last week, swaps posted the biggest weekly increases that I have seen since I've been writing this column, with one-year swaps almost going up by 0.25%. The increases were so large that I had to increase the y axis of my graph above 5.8%. One and two-year swaps are up about 0.5% in the past three months, which fits with two base rate increases.

  • Me & My Car

    22 Jan 2007

    It won't rival an Aston Martin in the supercar stakes but my edgy and classy Smart Car more than makes up for this in practicality, says Rob Field

  • Meeks becomes MD at Pink

    22 Jan 2007

    Barry Meeks was last week named as the new managing director of Pink Home Loans, taking over from Tony Jones.

  • Merrill makes mysterious market moves

    22 Jan 2007

    I've had a consistent relationship with Merrill Lynch. I call it about something I've heard going on in its mortgage unit and it either fails to return the call or declines to comment. Like I say, it's a consistent relationship - predictable.

  • MEX appoints key account manager

    22 Jan 2007

    Mortgage Express has appointed Richard Freedman as a key account manager. He joins from Alliance & Leicester where he was national account manager.

  • Money Partners Touch recruits BDM

    24 Jan 2007

    Money Partners Touch, the direct-to-broker channel of Money Partners, has appointed Sheryl Andrew as business development manager for the North of England.

  • Money Partners warns of lender price war

    22 Jan 2007

    Money Partners is predicting a price war among lenders in 2007 as the market grows to the point of saturation, with US investors being first to run in the event of a downturn.

  • More advice could mean fewer claims

    22 Jan 2007

    The Treasury is to consult on a national gen-eric financial advice service, it was announced last week.

  • Mortgage Angels launches pre-view leads

    23 Jan 2007

    Mortgage Angels has reveamped its lead distrubution system by launching pre-view leads.

  • Mortgage Match launches website

    25 Jan 2007

    Mortgage Match, Nottinghamshire, has launched a new website as part of a long term Information Technology strategy.

  • Mortgage Trust appoints BDM for North

    22 Jan 2007

    Mortgage Trust has appointed Mick Kirkman as a business development manager in the North.

  • Mortgages PLC to sponsor all three Expos

    22 Jan 2007

    Mortgages PLC has signed up to sponsor all three Mortgage Business Expos in 2007.

  • MT plans to set up academies to train brokers

    22 Jan 2007

    The Mortgage Times Group is to launch its own broker training academies in a bid to bring fresh blood into the industry.

  • NAEA and ARLA agree to join forces

    22 Jan 2007

    The National Association of Estate Agents and the Association of Residential Letting Agents have agreed to merge to become the National Federation of Property Professionals.

  • Nationwide deals

    22 Jan 2007

    Nationwide has increased the rates on its range of fixed rate mortgages.

  • Networks should be offering HIP services

    22 Jan 2007

    The latest report from the Financial Services Authority found that over three-quarters of the smaller mortgage firms it investigated did not have robust processes in place, leading to the risk of clients being given unsuitable advice.

  • New appointments at GMAC_RFC

    22 Jan 2007

    GMAC-RFC has unveiled three appointments to help support the firm's strategic goals for 2007. Julie Gaskin, Barry McGuire and Emily Bosley all joined the marketing team earlier this month bringing the department's ranks to over 40 people.Julie Gaskin takes on a new role of corporate relations manager with responsibility for GMAC-RFCs PR and public policy activity, reporting direct to Jeff Knight, director of marketing.

  • New electronic conveyancer promises to revolutionise process

    23 Jan 2007

    Convex says its new conveyancing system is a 41% improvement on regular conveyancing methods, meaning the home buying process can be speeded up by over a month.

  • NR reports 33bn record gross lending

    24 Jan 2007

    Northern Rock has reported record gross lending of 33bn in its preliminary results for the year ended December 31 2006.

  • Optoma launches Kensington self-cert

    26 Jan 2007

    Optoma Broker Solutions has launched a self-cert fixed rate from Kensington Mortgages.

  • Our B2L product is popular and will give us an edge

    22 Jan 2007

    From Julie Gaskin

  • Outlook - An A-Z Guide to 2007

    22 Jan 2007

    A is for Abbey, resurgent in 2006, and after a measured specialist lending debut, expectations are high for it to develop further in 2007 possibly with a large loans niche. As with the crestfallen David Beckham, it will be interesting to see whether a Spanish paymaster cultivates its asset even more or determines that its specialist proposition will not receive incremental investment in a challenging market.

  • PACKAGER SUMMIT 2007: AMI to establish standing committee for packagers

    25 Jan 2007

    The Association of Mortgage Intermediaries is to launch a standing committee to represent packagers in a bid to unify industry.

  • Packagers focus on sub-prime

    22 Jan 2007

    Almost 90% of packagers polled by The Mortgage Business see sub-prime is the most important market segment and an area that will be vital to their business in the future. Self-cert was voted the next most important sector.

  • PACKAGING SUMMIT 2007: BTL as big as FTB market by 2011, says HBOS

    25 Jan 2007

    HBOS has predicted that the buy-to-let market will be as big as the first-time buyer market by 2011.

  • PACKAGING SUMMIT 2007: Common trading platform still long way off

    25 Jan 2007

    A common mortgage e-commerce trading platform still looks to be a long way off following discussions on the second day of the Mortgage Strategy Packager Summit in Nice.

  • PACKAGING SUMMIT 2007: Eight out of 10 providers not threatened by DIY lenders

    24 Jan 2007

    DIY lenders, created by packagers, hold no fear for 80% of established lenders, according to a poll cast at this year's Mortgage Strategy Packager's Summit in Nice.

  • PACKAGING SUMMIT 2007: HBOS may launch sixth arm

    24 Jan 2007

    HBOS could launch a new brand to the mortgage market to compete against the growing number of do it yourself lenders that have come to market over the last 24 months.

  • PACKAGING SUMMIT 2007: Lenders warned over dual pricing

    24 Jan 2007

    Packagers have accused lenders of mistreatment over the dual pricing of mortgage products depending on whether they are sold direct by brokers or through the distribution channel.

  • PACKAGING SUMMIT 2007: New lenders accused of pushing credit limits too far

    24 Jan 2007

    New lenders have been criticised for pushing credit limits in an attempt to gain ground in a saturated market.

  • PACKAGING SUMMIT 2007: Packagers claim industry innovation

    24 Jan 2007

    Packagers feel that they are the drivers of new ideas and innovation in the industry, rather than lenders, according to a poll cast at this year's Mortgage Strategy Packaging Summit.

  • PACKAGING SUMMIT 2007: Packagers slam sourcing systems

    25 Jan 2007

    The packaging community has given sourcing system Trigold and Mortgage Brain a vote of no confidence, claiming that their systems are not up to the standard they require.

  • PACKAGING SUMMIT 2007: Packagers urge lenders to form true partnerships

    24 Jan 2007

    Packagers have accused lenders of having preferred the development of IT solutions aimed at getting direct business from brokers, rather than working with packagers to improve their technology.

  • PACKAGING SUMMIT 2007: PMPA slams lenders

    25 Jan 2007

    The Professional Mortgage Packager's Alliance has attacked lenders who have failed to deliver in terms of technology links at Mortgage Strategy's Mortgage Packager's Summit.

  • Pain and Maltby to serve second CML term

    26 Jan 2007

    The Council of Mortgage Lenders has confirmed that chairman Jon Pain and deputy chairman John Maltby will serve a second term in their respective positions in the trade body.

  • Parents use contents insurance to bail out kids

    25 Jan 2007

    Cornhill Direct has revealed that parents are increasingly using their home contents insurance to replace their kids lost and stolen gadgets.

  • Personal Touch launches expansion plan

    23 Jan 2007

    Personal Touch Packaging is set to launch a packager franchise operation called Franchise Partners.

  • Pink confirms sales conference speakers

    26 Jan 2007

    Pink Home Loans has announced three additional speakers for its annual sales conference.

  • Portman appoints accounts manager

    22 Jan 2007

    Portman has appointed Jeremy Cook as national accounts manager. Cook joins Portman and The Mortgage Works from Friends Provident where he was mortgage relationship manager, responsible for the insurer's mortgage, general insurance and packaging propositions.

  • Praxis opens Northern Ireland office

    24 Jan 2007

    Praxis has opened a new dedicated office in Northern Ireland days after announcing a new lender partner and the relaunch of its commercial arm.

  • Pre-HIP deadline extended to spring 2008

    25 Jan 2007

    In yet another government U-turn, properties that go on the market before the Home Information Pack implementation date June 1 will now be able to stay HIP-free until March 2008 rather than the original October 2007 deadline.

  • Primrose appoints marketing manager

    22 Jan 2007

    Primrose has appointed Helen James, formally of GMAC-RFC, as its new marketing manager.

  • Prospects are good for B2L sector

    22 Jan 2007

    Opinions in Mortgage Strategy seem to be divided when it comes to the future of the buy-to-let market, but the evidence is on the side of the optimists, says Sally Laker

  • Rate rise could shift power towards buyers

    22 Jan 2007

    Propertyfinder.com is predicting a shift in the balance of power in the housing market in 2007 as buyer demand declines and sellers find themselves forced to compromise on price.

  • RBS rings the NatWest changes

    22 Jan 2007

    The Royal Bank of Scotland has made changes to its NatWest range of fixed rate, tracker and variable buy-to-let mortgages. It has increased the maximum LTV across the range to 85% from 80%. This excludes the buy-to-let two-year tracker, which has a maximum LTV of 70%.

  • Reduce exit fees, says Moneysupermarket.com

    26 Jan 2007

    Moneysupermarket.com has called for exit fees to be reduced, following the Financial Services Authoritys call for exit fee transparency.

  • Register free for Glasgow event

    22 Jan 2007

    Free registration has begun for the Financial Services Scotland 2007 event in Glasgow on March 8. Organiser Clarion Events expects more than 1,000 visitors.

  • Relax chooses xit2 system

    22 Jan 2007

    Relax Finance has chosen xit2's Valuation Exchange to provide the online system for its panel manager Gateway Surveyors.

  • Remortgages funded Xmas

    22 Jan 2007

    Consumers releasing equity from their homes via remortgaging may have been the biggest source of funds for record-breaking spending over Christmas and the new year.

  • Salt adds GHL to packager panel

    22 Jan 2007

    Specialist lender Salt has added the GHL Group to its premier packager panel.

  • Secured loans market is IT-savvy too

    22 Jan 2007

    While it is said that the days of paper are over for residential mortgages and the online world is here to stay, the secured loans market is not far behind in terms of its adoption of information technology, both as an administrative helpmate and as the most effective way of marketing loans.

  • Seminars will boost secured loans' profile

    22 Jan 2007

    Oryen Commercial and Oryen Secured Loans for Intermediaries are to host a series of seminars to raise awareness of commercial mortgages and secured loans.The seminars, held in conjunction with Commercial First, Kensington Personal Loans and Southern Personal Pacific Loans, will kick off on January 30 at the Wentbridge House Hotel, Pontefract.A spokesman for Oryen says: "We will emphasise the opportunities for brokers to offer clients secured loans as an alternative to remortgages."

  • Sesame is the largest network overall

    22 Jan 2007

    Sesame is the largest overall financial services network with 2,209 appointed representatives, outranking its nearest rival by 61%.

  • Skipton relaunches fixed rate range

    23 Jan 2007

    Skipton has relaunched its range of two-year, three-year, five-year, seven-year and 10-year fixed rate mortgages with rates starting from 5.34%.

  • Standard Life Investments stays bullish on office sector

    22 Jan 2007

    Standard Life Investments says it's cautious about large parts of the UK property market but has remained positive about the prospects of the office sector.

  • Stop patronising clients when it comes to SPASU

    22 Jan 2007

    From Andrew Botte

  • Stroud & Swindon increases SVR

    26 Jan 2007

    Stroud & Swindon has increased its SVR by 0.25%.The increase takes the societies SVR from 7.04% to 7.29% and will affect existing borrowers from February 1.The increase in line with the Bank of England base rate increase of the same amount.

  • Stroud & Swindon reveals new product range

    25 Jan 2007

    Stroud & Swindon has launched a range of new residential, buy-to-let and intermediary products.The society is offering free legal fee package and free valuation on remortgages for two, three and five year fixed prodict.It is also offering a two year fixed fee saver, flexible tracker products, buy-to-let for two, three and five year fixed, and buy-to-let three year discount products.

  • Swift raises lending limit

    22 Jan 2007

    Swift has increased its lending limit for first and second charge mortgages for up to 75% LTV to £750,000. The previous limit was £500,000. Swift will continue to lend on properties valued over £750,000 at a reduced 70% LTV.

  • Swift release fixed products for RAMP

    23 Jan 2007

    Swift has released new two and three-year fixed rates that are exclusively available to RAMP members.

  • Tesco to build homes in London

    22 Jan 2007

    Tesco is to build homes for its employees and key workers in London in a bid to counter the shortage of affordable housing in the capital.

  • TFC offers free applications

    22 Jan 2007

    TFC Homeloans is offering free applications and valuations on its sub-prime range.The deal applies to sub-prime products across all lenders, except Future Mortgages, that recoup TFC a gross commission of 1.5% or above. For products that don't qualify for the promotion, TFC's £99 application fee still stands, except for 100% products.

  • The deal makers

    22 Jan 2007

    The speed of Cobalt Capital's rise has been remarkable but it still has big plans. Here, Christine Toner meets a management team on a mission

  • The good, the bad and the regulated

    22 Jan 2007

    In our regulated world we regularly ponder the definition of good. We think we've got it until someone comes along and kindly informs us that we are wrong.

  • The importance of joined-up technology is becoming evident in the sales process

    22 Jan 2007

    Star Letter

  • The Mortgage Mole

    22 Jan 2007

    Bonjour

  • The Partnership welcomes HIP changes

    26 Jan 2007

    The Partnership has welcomed changes to government regulations on the introduction of Home Information Packs.

  • These low start deals could trap the unwary

    22 Jan 2007

    How much would you be willing to pay for a mortgage that helps you plan your finances over the longer term?

  • This rate hike could hit landlords hard

    22 Jan 2007

    The shock decision by the Monetary Policy Committee to raise the base rate by 0.25% is bound to still be on everybody's lips this week. The increase will not make a big difference to most home owners but it can't be taken in isolation.

  • This Week's Dilemma

    22 Jan 2007

    Treating customers fairly is an idea we have all endorsed for some time, but it has only recently become one of the many things that the Financial Services Authority will monitor within regulated firms as part of its remit. This is all well and good but there are no clear rules to define "fair". The guidlines from the FSA draw a line in the sand that seems to be forever shifting. How do I know that my understanding of TCF will satisfy the FSA?

  • Time to get your ducks in a row on affordability

    22 Jan 2007

    When I criticised lenders' appetite for pushing the bar ever higher on income multiples recently, I took a lot of flak.

  • Title Deed

    22 Jan 2007

    It started life as a company called First Fortune Finance, dealing with personal loans and hire purchase and subsequently became Commercial Credit, a subsidiary of the American Control Data Corporation, the mainframe computer manufacturer.

  • TMP unveils online enquiry form

    25 Jan 2007

    The Mortgage Partnership has launched an online enquiry form that allows brokers to submit enquiries directly to its new business desk.

  • To be or not to be VAT registered

    22 Jan 2007

    The question of whether appointed representatives should register for VAT is complicated but here are some guidelines that advisers should be aware of, says Kevin Carletti

  • Tories say families are becoming worse off

    22 Jan 2007

    Figures showing prices are outstripping earnings at the same time as the jobs market is stagnating have sparked concerns in the Tory party.

  • Truestone appointment

    22 Jan 2007

    Truestone Asset Management has appointed Ian Handley to launch its lending arm Truestone Private Finance. Handley and his team will provide independent advice relating to investment property finance, residential mortgage borrowing, multiple property financing, loans, offshore finance and commercial finance.

  • Trustguard says sales soared 46% last year

    22 Jan 2007

    Trustguard reports overall sales growth of 46% in 2006. This increase includes first and second charge lending during the year, pushing the volume of mortgages and loans beyond £700m.

  • TV revelations on PPI will give a boost to brokers

    22 Jan 2007

    From Sara-Ann Burgess

  • Victoria reprices product range

    22 Jan 2007

    Victoria Mortgages is withdrawing its entire product range with effect from January 29, with new pricing starting today.

  • We must be aware of green deals

    22 Jan 2007

    As consumers become more aware of environmental issues, brokers must ensure they know about the green mortgage products available in the market, says Drew Wotherspoon

  • We must learn from this warning shot

    22 Jan 2007

    I'm sure nobody was under any misapprehension that things would be easier under Financial Services Authority regulation rather than the Mortgage Code Compliance Board. But a principles-based regulatory process, which the FSA is committed to, can give firms a feeling that they are on the right track even if they are not.

  • We want better lender IT systems

    22 Jan 2007

    Lenders don't make it easy to use their online systems and I'm getting tired of doing all the legwork for them in return for a pretty modest proc fee, says Sue Read

  • Weir's letter about my ethics was sanctimonious garbage

    22 Jan 2007

    From Simon Burgess

  • Welcome to Blue Monday

    22 Jan 2007

    January 22 is the worst day of the year so far, according to Lloyds TSB Insurance. So-called Blue Monday has been pinpointed by academics as the most miserable day of the year, coming one month after Christmas when spiralling debt, bad weather, unkept new year resolutions and a lack of motivation overwhelm even the most upbeat personality.

  • West Brom completes first residential deal

    23 Jan 2007

    The West Brom has completed its first residential mortgage securitisation, via a £320m buy-to-let financing transaction.

  • What does the increase in interest rates mean for you?

    22 Jan 2007

    Last week's 0.2% interest rate hike caught financial experts on the hop. While most economists had predicted a rate rise some time in 2007, nobody anticipated it would come so quickly. This could mean many borrowers - particularly first-time buyers - will struggle with mortgage repayments.So this week Mortgage Strategy asks: What does the increase in interest rates mean for you?

  • White label conveyancing deal

    22 Jan 2007

    Easier2move has linked up with Bananas Inc to provide a branded white label conveyancing service for its brokers.

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