Mortgage Strategy
22 September 2008

  • Lloyds' New Baby

    22 Sep 2008

    Although there's still no official name for the new mega-lender formed by the takeover of HBOS by Lloyds TSB, cyber squatters have been quick to see an opportunity.

  • $700bn rescue talks end in shouting match

    26 Sep 2008

    The $700bn bail-out talks in the US have been blocked by Republican members of congress and discussions have come to an end.

  • 92% of estate agents saw effect of Stamp Duty indecision on consumers

    22 Sep 2008

    The vast majority of estate agents have said government floundering over Stamp Duty in August increased consumer concerns about the housing market.

  • Aegon serves £30m volley to bolster UK tennis

    22 Sep 2008

    The Lawn Tennis Association received a massive £30m boost from insurer Aegon last week.

  • AMI greets Darling’s speech with caution

    23 Sep 2008

    Chris Cummings, director general of the Association of Mortgage Intermediaries has urged the chancellor Alistair Darling to be cautious over his plans for the Banking Reform Bill and increased mortgage regulation.

  • AMI urges caution over chancellor's plans

    23 Sep 2008

    Chris Cummings, director general of the Association of Mortgage Intermediaries has urged the chancellor Alistair Darling to be cautious over his plans for the Banking Reform Bill and increased mortgage regulation.

  • AMI visits Labour

    25 Sep 2008

    I spent this week at the Labour Party conference in Manchester.

  • AMPD confident about the future

    24 Sep 2008

    Andrew Hewitt, managing director of packager Oryen and spokesman for the Alliance of Mortgage Packagers and Distributors says it is well placed to tackle any problems in the financial market.

  • Apocalypse now

    22 Sep 2008

    The deal allowing Lloyds TSB to buy HBOS marks the culmination of perhaps the most momentous week in recent financial history. Christine Toner reports

  • Archbishops slam short sellers

    25 Sep 2008

    Two senior clerics have attacked short sellers and the wider banking sector for their role in bringing about the financial crisis.

  • Aston Challenge winner

    22 Sep 2008

    The winner of Paymentshield's Aston Challenge competition was Terence Mulroney, co-director of M T Financial Services, which is part of the Thinc network.

  • Average house price drops 4.6%

    26 Sep 2008

    The average house price in England and Wales in August fell by 4.6% compared to the same period in 2007.

  • B&B cuts 370 jobs

    25 Sep 2008

    Bradford & Bingley is set to trim 370 jobs and £15m in costs as part of a streamlining exercise.

  • B&B rating downgraded

    22 Sep 2008

    Moody's has downgraded Bradford & Bingley, calling the lender weakly capitalised and overreliant on Bank of England funding. B&B's arrears are higher than any of its UK peers, having gone from 2.1% to 3.1% during the first half of 2008. Moody's says the economic downturn is only in its early stages and expects arrears to rise further.

  • B&B sees share price plunge to 16p

    26 Sep 2008

    Beleaguered buy-to-let specialist Bradford & Bingley saw its share price plunge to an all-time low of 16.75p in early morning trading today.

  • B&B slashes 370 jobs

    25 Sep 2008

    Bradford & Bingley is set to trim 370 jobs and £15m in costs as part of a streamlining exercise.

  • B&B to end GMAC-RFC deal in March

    24 Sep 2008

    Bradford & Bingley has renegotiated the termination date of its loan sale agreement with specialist lender GMAC-RFC to March.

  • Banks set up $70bn borrowing pool

    22 Sep 2008

    A group of 10 international banks has established a $70bn (£39bn) borrowing facility to provide liquidity in the face of unprecedented volatility in the money markets.

  • Barclays to employee 10,000 Lehmans staff

    23 Sep 2008

    This morning Barclays announced it will take on 10,000 employees from Lehman Brothers.

  • Barclays to take on Lehman employees

    23 Sep 2008

    This morning Barclays announced it will take on 10,000 employees from Lehman Brothers.Barclays has completed its acquisition of Lehman Brothers North American investment banking and capital markets operations.Banking and advisory services will likely reopen on Monday under the Barclays Capital name.

  • BDS launches exclusives with Skipton

    22 Sep 2008

    BDS Mortgage Group has teamed up with Skipton to launch two exclusive fixed rate packaged products.

  • BDS trains brokers in debt management

    25 Sep 2008

    BDS Mortgage Group has arranged an additional training date for brokers to learn more about Guardian Debt Management and the associated income opportunity.

  • Beacon Mortgage Packager offers help to Solent brokers

    22 Sep 2008

    Beacon has an almost identical lending panel to Solent, which called in administrators last week, and is willing to package any Solent DIPs received by advisers.

  • Beacon Mortgage Packaging offers to process Solent DIPs

    22 Sep 2008

    Beacon Mortgage Packaging is offering to take forward mortgage applications that have lapsed as a consequence of the administration of Solent Mortgage Services.

  • Benchmarking the value of leads

    22 Sep 2008

    The mortgage market seems to be changing on a daily basis and this applies to lead generation as much as any other part of the industry.

  • Best buys down by up to 1.16%

    22 Sep 2008

    Best buy rates have been slashed by up to 1.16%, says Mform.co.uk. The six-week average fall is 0.5%.

  • Birkett and Sample to join PTFS

    24 Sep 2008

    Prestbury Financial has signed a deal that will see the transfer of all of its appointed representatives to rival network Personal Touch Financial Services.

  • BoE auctions to be held weekly

    26 Sep 2008

    The Bank of England is set increase the size and number of auctions it holds to help cash strapped lenders.

  • BoE extends SLS until January

    22 Sep 2008

    The Bank of England has extended its Special Liquidity Scheme until the end of January 2009. The Council of Mortgage Lenders says: "The BoE has shown a welcome flexibility."

  • BoE to increase auctions

    26 Sep 2008

    The Bank of England is set increase the size and number of auctions it holds to help cash strapped lenders.

  • Bridging market still strong reports Mathon

    22 Sep 2008

    Mathon, an asset-based lender in the commercial property sector has found that leads in the bridging market are as good if not better than those in 2007.

  • Bridging offers in the Pink

    22 Sep 2008

    Pink Home Loans is boosting its bridging offering with the addition of Link Lending to its panel. Brokers will now be able to access short-term bridging and unsecured loans from the lender, with no early redemption charges, exit or upfront processing fees.

  • Broke SMS is still on the lookout for investors

    22 Sep 2008

    Solent Mortgage Services is still on the lookout for investors after calling in the administrators last week.

  • Brokers must learn not to give their advice for free

    22 Sep 2008

    Our experience of working with single brokers and large networks has shown compelling evidence that advisers must review their remuneration channels urgently. To remain viable, brokers must charge professional fees to all customers whether they recommend products with proc fees or not.

  • Brokers offered 10% commission

    22 Sep 2008

    An IFA firm has launched an unregulated investment product offering brokers with high net worth clients commissions of up to 10%.

  • Bush pleads with Congress for $700bn

    25 Sep 2008

    President George W. Bush was pleading with Congress in front of the American people last night in an attempt to push through Treasury Secretary Henry Paulson’s $700bn rescue plan.

  • Call to check software meets TCF

    22 Sep 2008

    Brokers are being urged to check whether their software systems can provide evidence that they make compliant sales ahead of the looming Treating Customers Fairly deadline.

  • Call to extend shorting ban

    22 Sep 2008

    The Real Estate Investment Trust Association is calling on the Financial Services Authority to extend the short selling ban to include the commercial property and real estate sector.

  • CAMs offer consumers the 'double whammy'

    22 Sep 2008

    The growth in the number of the UK’s self-employed should be good news for mortgage brokers.

  • CBI calls for 1% cut in base rate

    22 Sep 2008

    The Confederation of British Industry is calling for a 1% base rate cut over the next nine months to combat a further decline in economic output. The CBI has slashed its growth forecast for 2008 from 1.7% to 1.1% and for 2009 from 1.3% to 0.3%.

  • CBI predicts 12,000 financial job losses

    26 Sep 2008

    The Confederation of British Industry is predicting that the financial services sector will suffer at least 12,000 job losses over the next quarter.

  • Central banks pump £100bn into markets

    22 Sep 2008

    Central banks pumped £100bn into world markets last week to ease the suffering of financial institutions in the UK and around the world.

  • Chancellor calls for tougher regulation

    22 Sep 2008

  • Clients do themselves harm by going to lenders direct

    22 Sep 2008

    It was interesting to read comments by Gerry Bell of GE Money Lending (Mortgage Strategy Online August 21) stating that around 3.4 million direct mortgage applicants were declined at least once in the past 18 months.

  • Complaint against Connect proc fee payment is not valid

    22 Sep 2008

    In the September 15 issue of Mortgage Strategy a letter from Laraine Adams criticised the service she had received from Connect Mortgages.

  • Conti partners with A Place in the Sun

    25 Sep 2008

    Overseas mortgage provider Conti Financial Services has formed a strategic partnership with the website of television series A Place in the Sun.

  • Darling commits to action on economy

    22 Sep 2008

    Alistair Darling has pledged to take action to address weaknesses in the financial system.

  • Demand for Islamic Finance set to increase

    26 Sep 2008

    An increasing number of individuals and corporations are set to invest in Islamic banking and Sharia compliant products than ever before, predicts accountants and financial advisers BDO Stoy Hayward.

  • Demand soars for unemployment insurance

    22 Sep 2008

    The deteriorating economy is beginning to inflict a toll on the jobs market, which has resulted in a surge in demand for unemployment insurance protection polices, says Paymentcare.co.uk.

  • Derbyshire directors to lose jobs post-merger

    23 Sep 2008

    None of the directors at the Derbyshire will keep their posts beyond 2010 as a result of the merger with Nationwide.

  • Director quits HML

    22 Sep 2008

    Mike Perry, director of sales and marketing at Homeloan Management, has decided to leave the company. Perry joined HML earlier this year from Amber Homeloans, where he had worked since 2001.

  • Drop in business for NACFB members

    25 Sep 2008

    Members of the National Association of Commercial Finance Brokers have seen a drop of almost 20% in commercial business from June 2007 to June 2008, due mainly to a poor performance in the commercial finance sector.

  • Easier access to impaired life deals

    22 Sep 2008

    Hodge Equity Release is speeding up access to impaired life equity release quotations for customers with ailing health.

  • Editor’s view: Why you SHOULD vote for your best lender and nominate your best brokers

    23 Sep 2008

    Is it really possible to reward those that have been so harsh to so many over the past 12 months?

  • Em- offers dual proc fee proposition

    22 Sep 2008

    Em-financial is offering a dual proc fee proposition as a result of increased investment in technology.

  • End of era for US banks

    22 Sep 2008

    America’s last two investment banks Goldman Sachs and Morgan Stanley have changed their status to become bank holding companies.

  • End of the line for PMPA

    22 Sep 2008

    The Professional Mortgage Packagers Alliance is to close from September 30 as a result of current market conditions.

  • Equity release feasible option says Defaqto

    24 Sep 2008

    Equity release may be a feasible option for some pensioners struggling at this time of financial crisis, says David Black, prinicpal consultant of banking expert at Defaqto.

  • Equity release thriving in crunch

    22 Sep 2008

    The housing market is slowing, new mortgage volumes are falling – it’s a story we are familiar with, but the equity release market is thriving. Safe Home Income Plan’s Q2 figures, which came out this week, demonstrate how equity release is resisting the credit crunch with a 14% increase in business – an encouraging scenario considering the current economic climate.

  • Equity release thriving in crunch

    22 Sep 2008

    The housing market is slowing and new mortgage volumes are falling – it’s a story we are familiar with, but the equity release market is thriving. Safe Home Income Plan’s Q2 figures, which came out this week, demonstrate how equity release is resisting the credit crunch with a 14% increase in business – an encouraging scenario considering the current economic climate.

  • Eurodebt to exhibit at Mortgage Expo

    22 Sep 2008

    Debt management provider, EuroDebt Financial Services will be exhibiting at this year’s London Mortgage Business Expo.

  • Evocative reminders of grisly crimes

    22 Sep 2008

    At the top of Ladbroke Grove in west London you’ll find Bartle Road. I valued a house there some years ago. Immediately adjacent to the house is a garden about the width and depth of a building plot, so when viewed from a distance the terrace has the appearance of a row of teeth with the middle one missing.

  • Fair's fair

    24 Sep 2008

    They say that the best salespeople and the most intelligent economicthinkers do not necessarily make the best managers and leaders.

  • FBI investigates US execs for mortgage fraud

    24 Sep 2008

    The bosses of Fannie Mae, Freddie Mac, Lehman Brothers and insurer AIG are thought to be under investigation by the Federal Bureau of Investigation for mortgage fraud.

  • Financial reclaim services bite the hands that feed us

    22 Sep 2008

    I am writing to voice my concern over the rush of packagers and brokers offering financial reclaim services.

  • FISA tightens panel rules

    22 Sep 2008

    The Finance Industry Standards Association, the secured loan industry's self-regulatory and compliance body, has altered its application requirements for firms wishing to join its surveyors' panel, FISAVal. The list of requirements for its panel of valuers now includes the need to have written Quality Assurance policies that cover head office and administrative procedures.

  • FOS to name and shame

    25 Sep 2008

    The Financial Ombudsman Service is to name and shame companies that it receives the most complaints about.

  • FSA appoints senior retail and wholesale advisors

    23 Sep 2008

    The Financial Services Authority has appointed two senior advisors to retail markets and wholesale insurance.

  • FSA bans Southall mortgage broker

    23 Sep 2008

    The Financial Services Authority has banned Asim Hussain based on the fruits of the Information from Lenders anti-fraud programme.

  • FSA fines GEMHL £1.12m

    25 Sep 2008

    The Financial Services Authority has fined GE Money Home Lending £1.12m after 684 borrowers suffered financial loss in excess of £2.3m before redress was paid.

  • FSA rumoured to be seeking buyer for B&B

    22 Sep 2008

    Bradford & Bingley is thought to be in takeover talks as reports surface that the Financial Services Authority is gauging interest in the lender.

  • FTBS face limited range of direct mortgage deals

    23 Sep 2008

    First-time buyers looking to borrow more than 90% LTV have only 36 direct mortgage deals to choose from, reveals research from mform.co.uk.

  • Goldman Sachs to raise $5bn through Warren Buffett

    24 Sep 2008

    Goldman Sachs is to raise $5bn through renowned investor Warren Buffet in order to shore up its position amidst the ongoing financial crisis.

  • Goldmans and Morgan Stanley get retail finance approval

    22 Sep 2008

    America's two remaining investment banks are moving into the retail finance arena.

  • Goldsmith Williams makes top ten of legal employers

    24 Sep 2008

    Goldsmith Williams has been voted as one of the top ten legal employers in an independent survey of law firms across the UK.

  • Hard-hit Loanmakers in £1.86m share issue

    22 Sep 2008

    Stock market-listed master broker Loanmakers is calling on shareholders to help it raise £1.86m of funding to safeguard its future.

  • Hedge funds hard on needy borrowers

    22 Sep 2008

    The UK's most vulnerable borrowers could be subject to the profit-driven whims of unregulated hedge funds, experts warn.

  • Home owners struggling to find remortgage deal

    26 Sep 2008

    Research from online credit information provider Equifax shows that 23% of home owners are having difficulty getting a competitively priced deal.

  • Home reversion plans to become preferred option

    22 Sep 2008

    Nationwide has predicted that the housing market will not recover until 2010.

  • Homebank looks for acquisitions

    22 Sep 2008

    Brokerage Homebank is looking to buy or merge with other established brokers. It says its automated systems allow it to flourish in difficult market conditions where other firms struggle.

  • Horsing Around

    22 Sep 2008

    There are already some potential logos for the new ber- lender floating around cyberspace.

  • Housebuilders to draw up code of conduct

    25 Sep 2008

    The housebuilding sector is to develop its own code of conduct in the wake of a study by the Office of Fair Trading.

  • HSBC appoints combined chief executive

    26 Sep 2008

    Ken Harvey has been appointed to the newly created role of chief technology and services officer at HSBC.

  • Hush Hush

    27 Sep 2008

    High Ho Mawdsley John Mawdsley admitted defeat this month and decided to leave the mortgage industry.

  • IMLA attacks SLS extension

    22 Sep 2008

    The Intermediary Mortgage Lenders Association has slammed the extension of the Special Liquidity Scheme as madness since it excludes a number of broker-facing lenders from accessing the plan.

  • Ireland falls into recession

    25 Sep 2008

    The Irish Republic has slumped into a recession figures from the Central Statistics Office show.

  • Islamic Finance set to soar in troubled market

    26 Sep 2008

    An increasing number of individuals and corporations are set to invest in Islamic banking and Sharia compliant products, says accountants and financial advisers BDO Stoy Hayward.

  • John Charcol signs protection deal with L&G

    24 Sep 2008

    John Charcol has partnered with Legal & General for a sole-tie distribution agreement to provide protection and mortgage payment protection insurance products.

  • JPMorgan snaps up WaMu for $1.9bn

    26 Sep 2008

    JPMorgan Chase has bought US credit union Washington Mutual for $1.9bn.

  • King offers no solace to the industry

    22 Sep 2008

    When Sir Howard Davis was top dog at the Financial Services Authority between 1997 and 2003 he liked to describe his role as then chancellor Gordon Brown's representative on earth.

  • Lament for fading building societies

    22 Sep 2008

    For some time it's been clear that 2008 will go down as one of the most turbulent years in financial services history. Nevertheless, the fall of Lehman Brothers, the last-minute sale of Merrill Lynch and HBOS' demise still came as a shock.

  • Landlords are in it for the long term

    22 Sep 2008

    Capital growth has always been seen as a key motivation for investing in buy-to-let properties, prompting some commentators to ask what today's decreasing HPI environment means for the future of buy-to-let.

  • Landlords delay on EPCs

    24 Sep 2008

    Research from Paragon Mortgages reveals that the majority of landlords haven’t arranged Energy Protection Certificates despite the deadline being only a week away.

  • Landlords should use EPCs as marketing tool

    22 Sep 2008

    With the introduction of Energy Performance Certificates on all homes for sale as well as rented properties upon us, EPCs continue to be under the microscope.

  • Last week greatest change since Industrial Revolution, says Brown

    23 Sep 2008

    Gordon Brown has called for a new settlement of the British economy in the wake of last week which he dubbed the greatest change since the Industrial Revolution.

  • Lehmans can't escape event horizon

    22 Sep 2008

    The pace and breathtaking enormity of the recent failures brought about by the seemingly insatiable appetite of the credit crunch can be likened to an event horizon.

  • Lehmans' ratings lowered

    22 Sep 2008

    Standard & Poor's has lowered the long and short term counterparty credit ratings for both Lehmans' UK-based European arm Lehman Brothers International and Lehman Brothers Holdings from R to D.

  • Lloyds TSB is no St Bernard

    23 Sep 2008

    Lloyds TSB, which is sponsoring the London Olympics to the tune of £80m, is set to take over HBOS, the UK’s largest mortgage lender for £12.2bn and the move has been spun by all those involved as a rescue.

  • Loan Line goes into liquidation

    25 Sep 2008

    Accuma Group has put its secured loan master broker subsidiary Loan Line into liquidation.

  • Loan Options offers unlimited adverse on 65% LTV

    22 Sep 2008

    Secured loan broker Loan Options, is offering up to 65% LTV with unlimited adverse and self-cert available up to loans of £40,000.

  • Loanagency.co.uk offers New York incentive

    23 Sep 2008

    Loanagency.co.uk if offering brokers a weekend to New York with every secured, commercial or bridging loan application received before November 15 2008.

  • Loans Warehouse offers lifeline to brokers

    23 Sep 2008

    Secured loan master broker Loans Warehouse is offering its help to brokers that have been caught out by lenders increasing rates and cutting agencies.

  • Mann steps down at Bankhall

    23 Sep 2008

    Peter Mann is stepping down in his role as head of Bankhall as he takes up the role of chief development officer at parent group Skandia UK.

  • Market grapples with Lehmans' demise

    22 Sep 2008

    In last week's column I said I thought there would be worse to come before we saw signs of a recovery, but little did I know that a major US bank was about to go down the tubes and HBOS would be swallowed by Lloyds TSB.

  • Market Watch 22/09/08

    22 Sep 2008

    Swaps fell again last week. Most of the falls seemed to follow the weekend's announcements about Lehman Brothers and Merrill Lynch.

  • Mergers could be beginning of the end

    22 Sep 2008

    Are we finally witnessing the beginning of the end of the building society movement? Reports of its demise probably started as far back as Abbey National's conversion to bank status in 1989.

  • Mform signs deal with Tiscali and Channel 4

    22 Sep 2008

    Mortgage comparison site mform.co.uk is to provide mortgage finder services for Tiscali and Channel 4 as part of a major expansion deal.

  • Money Partners increases rates

    22 Sep 2008

    With effect from Wednesday September 24 2008, all Money Partners interest rates will increase by 0.75% and lender completion fees by £750.

  • More write-downs in 2008 warns S&P

    22 Sep 2008

    Securities write-downs and rising loan losses will characterize the second half of 2008 warns Standard & Poor’s.

  • Morgan Stanley and Mitsubishi to partner

    24 Sep 2008

    Morgan Stanley and Mitsubishi UFJ Financial Group are pursuing a strategical alliance.

  • Mortgage Next launches commercial insurance for ARs

    24 Sep 2008

    Mortgage Next Network has launched a commercial insurance proposition for its appointed representatives in association with Towergate Lifestyle.

  • Mortgageforce sees record business enquiries

    24 Sep 2008

    Mortgageforce’s centrally generated new business has doubled in the last three months.

  • Mortgageforce takes on Devon brokerage

    22 Sep 2008

    Mortgageforce has taken on 14 new brokers as part of an 18-month expansion plan by adding Devon-based brokerage Mortgages and Financial Solutions to its franchise operation.

  • Mosaic looks for partners

    22 Sep 2008

    Mosaic Mortgage Club is looking to appoint packager partners to its panel following the withdrawal of c2-financial from the mortgage sector.

  • MS columnists should stop pointing the finger at Brown

    22 Sep 2008

    Is your publication a political magazine? Do you take backhanders from disgruntled Tories? I read Mortgage Strategy most weeks and during the property boom that lined the pockets of many of your columnists, I didn't see a regular spot to hail former Prime Minister Tony Blair.

  • NACFB sees drop in member business

    25 Sep 2008

    Members of the National Association of Commercial Finance Brokers have seen a drop of almost 20% in commercial business from June 2007 to June 2008, due mainly to a poor performance in the commercial finance sector.

  • Net mortgage lending at £2.1bn in August, says BBA

    23 Sep 2008

    The British Bankers’ Association has reported a £2.1bn rise in net mortgage lending - less than half the average rise over the previous six months.

  • New directors for Checkmate

    22 Sep 2008

    Checkmate Mortgages has appointed Jeremy Sillem and Gerald Gregory as non-executive directors. Stephen Knight, executive chairman of Checkmate, says: "The appointment of experienced executives is consistent with our intention to become a new force in the market."

  • No fears on Clavis arrears

    22 Sep 2008

    The co-owner of Basinghall Finance says market securitisation arrears should not be taken at face value.

  • Nomura buys Lehmans' European division

    23 Sep 2008

    Japanese brokerage Nomura has emerged as the winning bidder in an agreement to buy Lehman Brothers’ equities and investment banking arms in Europe and the Middle East.

  • Nursing plans for equity release

    22 Sep 2008

    Research from Retirement Plus reveals that one-third of consumers would use money freed up by equity release to fund long-term care.

  • Offset can pay for private school days

    22 Sep 2008

    The summer has drawn to a close and what a rubbish season it's been weather-wise. It has rained for weeks with a glimmer of sunshine here and there and that's it.

  • Offset offer ultimate in flexibility

    23 Sep 2008

    One essential thing to be considered when taking out a mortgage is the products flexibility – it is the key to a successful partnership between the consumer and their mortgage product.

  • Osborne: Brown is increasingly becoming a stranger from the truth

    22 Sep 2008

    Prime Minister Gordon Brown claimed on the Andrew Marr programme yesterday morning that the national debt is now lower than the level he inherited.

  • Packagers that evolve will flourish

    22 Sep 2008

    As the credit crunch continues, packagers have endured a tougher time than most. Some lenders have reduced their panels, forcing some firms to stop packaging altogether.

  • Paragon shuns takeover bid

    22 Sep 2008

    Buy-to-let specialist Paragon Group last week turned down a £373m takeover bid.

  • Peter Mann appointed CDO at Skandia

    23 Sep 2008

    Peter Mann is stepping down in his role as head of Bankhall as he takes up the role of chief development officer at parent group Skandia UK.

  • PMPA to close

    22 Sep 2008

    The Professional Mortgage Packagers Alliance will close its doors on September 30 2008.

  • Prestbury duo may join PTFS

    22 Sep 2008

    Prestbury chief executive Lee Birkett and sales director Kevin Sample are rumoured to have been offered jobs by Personal Touch Financial Services.

  • Prestbury finalises deal with PTFS

    23 Sep 2008

    Prestbury Financial has today signed the deal that will see the transfer of all of its appointed representatives to rival network Personal Touch Financial Services.

  • Prestige cuts distribution

    23 Sep 2008

    Secured loan lender Prestige Finance has cut its distribution and is only accepting business through a select group of brokers.

  • Private rental sector is flourishing

    22 Sep 2008

    The recent quarterly figures from the Association of Residential Letting Agents confirm what we have been saying for some time – that the private rented sector is not just holding up in the current economic environment, but flourishing.

  • Profits down at Network Data Holdings

    26 Sep 2008

    Network Data Holdings has seen group turnover drop by 34% to £10.6m in H1 2008, compared to £16.1m in H1 2007.

  • Profits plummet at Network Data Holdings

    26 Sep 2008

    Network Data Holdings has seen group turnover drop by 34% to £10.6m in H1 2008, compared to £16.1m in H1 2007.

  • Property investment - Do your homework

    23 Sep 2008

    I managed to watch both Panorama and The Price of Property last night,and I must say I am finding the latter interesting indeed, especially the historical context of the housing boom we have seen over the previous years in different areas.

  • Property sales plummet for August

    24 Sep 2008

    Figures from HM Revenue & Customs have revealed that the number of houses sold in the UK last month fell by over half compared to a year ago.

  • Public slams HBOS takeover

    22 Sep 2008

    Nearly 50% of consumers polled by YouGov last week think that Lloyds TSB’s take-over of HBOS will be bad news for them.

  • Ratings agencies in the spotlight

    22 Sep 2008

    The International Organisation of Securities Commissions is seeking a global regulatory approach to monitoring the activities of ratings agencies based on its code of conduct. A taskforce will review adherence to the code and report back in January.

  • Rental demand up 65% year-on-year says Your Move

    22 Sep 2008

    Rental demand has risen by 65% year on year from August, says online estate agent Your Move.

  • Review of secured loan repossessions on the cards

    22 Sep 2008

    BERR, the Department for Business Enterprise and Regulatory Reform, may be reviewing the way secured loan lenders repossess properties.

  • S&P downgrades B&B

    24 Sep 2008

    Ratings agency Standard & Poor’s has downgraded Bradford & Bingley over asset quality concerns within the lender’s buy-to-let and self-cert mortgage book.

  • Scottish MP calls on financial 'elders' to save Bank of Scotland

    22 Sep 2008

    Scottish National Party MP Alex Neil is thought to be issuing an invitation to Scottish financial heavy weights in a £6bn effort to buy Bank of Scotland and save jobs on the lender’s home soil.

  • Secret government research reveals HIPs have failed

    22 Sep 2008

    The Government’s flagship housing policy of Home Information Packs was in tatters yesterday as they were condemned by Whitehall’s own research.

  • Securitisation is the key to recovery

    22 Sep 2008

    The government is taking a battering from all sides of the mortgage market at the moment but I can't say I'm surprised. While it could be argued that the temporary increase in the Stamp Duty threshold to £175,000 is a step in the right direction, I think it will do little to kick-start the market.

  • Sesame hosts mortgage seminars

    24 Sep 2008

    Helping mortgage advisers to diversify will be a key theme for Sesame as it embarks on its latest round of regional mortgage seminars.

  • Seven out of ten brokers can't place deals

    26 Sep 2008

    Nearly 70% of UK brokers have been unable to source mortgage deals for their clients in the past two months, reveals a survey from the Intermediary Mortgage Lenders Association.

  • Short notice changes drive me mad

    22 Sep 2008

    You may recall that my family is addicted to roller coaster rides. I'd never describe myself as an adrenaline junkie so I'm usually the one looking after the bags. Yet the mortgage industry can be something of a roller coaster - you swing from high to low on a regular basis.

  • Spanking Idea

    22 Sep 2008

    As we all know, when the chips are down you've got to take advantage of whatever you have to hand. And one former Lehmans employee has taken this point to its logical but unpleasant conclusion.

  • Spare a thought for staff affected by US giants' fall

    22 Sep 2008

    I read with interest the cover feature about the US Federal Reserve's rescue of Fannie Mae and Freddie Mac in last week's Mortgage Strategy. It put me in a positive mood about the future as I began the working week.

  • SPF to keep Mortgagematch ties

    22 Sep 2008

    Savills Private Finance says it will uphold its ties with packager Mortgagematch after rescuing Personal Touch Packaging from administration.

  • Staff axed in dot shake-up

    22 Sep 2008

    Dot financial services revealed last week it has let go a small number of employed advisers as it switches to a self-employed business model.

  • Stamp Duty savings could pay for cover

    22 Sep 2008

    The government's announcement that Stamp Duty on properties valued up to £175,000 will be scrapped for one year could mean consumers are more able to afford protection insurance.

  • Surprise - The end of an era, the beginning of another

    22 Sep 2008

    I was lucky enough to indulge in a brief sojourn on Friday, not only to recharge my batteries after the mayhem of last week, but to attend the surprise wedding of Cobalt Managing Partner Julian Ingall to the lovely Julia.

  • The Mortgage Mole

    22 Sep 2008

    Bargain Buy"Have you missed the Bear Stearns garage sale?" the message asks. "Another successful bank is now on the market".

  • The problem is one of supply, not demand

    22 Sep 2008

    In my introductory article, I identified self-certification as one of the driving forces behind the spectacular growth of specialist lending in the UK.

  • The problem is one of supply, not demand

    22 Sep 2008

    In my introductory article, I identified self-certification as one of the driving forces behind the spectacular growth of specialist lending in the UK.

  • The truth's stranger than science fiction

    22 Sep 2008

    No-one would have believed in the first years of the 21st century that human affairs were not being watched by the regulator.

  • Thompson to stay put at L&G Mortgage Club

    22 Sep 2008

    Ben Thompson has revealed he is no longer leaving Legal & General Mortgage Club.

  • TMA launches into GI market

    22 Sep 2008

    The Mortgage Alliance has teamed up with Abbey for Intermediaries and Halifax to launch into the general insurance market.

  • TMA teams up for GI deals

    22 Sep 2008

    Abbey subsidiary The Mortgage Alliance is launching a general insurance proposition with Abbey for Intermediaries and Halifax.

  • Together loan sees huge hike

    22 Sep 2008

    Borrowers holding Northern Rock Together products who remortgage away from the lender could see rates more than double on the unsecured portion of the controversial product.

  • Tougher regulation needed says Darling

    22 Sep 2008

    The chancellor Alistair Darling says the events of the last couple of months have proven that the UK financial sector now needs tougher regulation.

  • UCB unveils B2L range

    22 Sep 2008

    UCB Home Loans has launched a range of buy-to-let and self-cert products with rates starting at 5.54%.The buy-to-let range includes two, three, five and 10-year fixed rate deals as well as tracker rates at base rate plus 1.25%. They are available up to 75% LTV.

  • UNIFi revamps fee structure

    24 Sep 2008

    Secured and unsecured loan broker network UNIFi Partners, is moving from a flat administration fee to a tiered structure for unsecured business, with fees starting at £20.

  • Urgent need for wider access to advice, says Aegon UK

    23 Sep 2008

    Aegon UK is calling on the government to improve public access to financial advice in the wake of the current economic crisis.

  • US bail out will happen says Bush

    26 Sep 2008

    US President George W Bush says it will rise to the occasion and pass the $700bn rescue deal.

  • US mortgage bail out

    26 Sep 2008

    Three weeks ago we seemed to be in the eye of the credit crunch storm. There was calmness and some green shoots. But when you come out of the eye you arguably hit the worst part of the tempest and that is where we are now.

  • US Treasury pushes $700bn rescue plan

    22 Sep 2008

    The US Treasury is looking to push through a $700bn rescue plan to buy up bad debt from US financial institutions.

  • Veteran Mawdsley rides off into the sunset

    22 Sep 2008

    After over 30 years in the mortgage market, John Mawdsley, managing director of Merseyside-based The Mortgage Partnership, is hanging up his spurs.

  • Warning on Lehmans fallout

    22 Sep 2008

    Industry experts are warning that the closure of Lehman Brothers could flood the UK residential mortgage-backed securities market with discounted deals that could push down prices.

  • We must remind consumers that property remains an excellent long-term investment

    22 Sep 2008

    We have been warned about property crashes for years. Firms such as Capital Economics have long said that UK house prices were unsustainable. We are also hearing from fund managers and investment specialists warning that property is no longer a sound investment.

  • Woolwich cuts product rates

    22 Sep 2008

    Woolwich is cutting rates on its fixed rate and lifetime tracker mortgages. Its three-year fixed rate deals start at 5.54% while five and 10-year products are available from 5.64%. All have a maximum LTV of 60% with a £995 fee. It has also launched a three-year fixed rate at 5.84% and a two-year fix at 5.99% available to 75% LTV.

  • Your Broker Network lends a hand to mortgage brokers

    23 Sep 2008

    Following the recent closure of some packagers within the sub-prime market, secured loan packager Your Broker Network is opening its doors to mortgage brokers who are unable to place business.

  • Your Broker Network offers help to mortgage brokers

    23 Sep 2008

    Following the recent closure of some packagers within the sub-prime market, secured loan packager Your Broker Network is opening its doors to mortgage brokers who are unable to place business.

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