Mortgage Strategy
23 May 2005

  • A crash course in financial planning

    24 May 2005

    A quarter of UK adults feel they are deficient at managing their money. Be your own Financial Adviser, a new Which? book, aims to provide a crash course for those lacking financial nous. People are expected to take a more active role to ensure their financial wellbeing as responsibility is increasingly being passed from state to individual. But many dont have the knowledge to do so effectively. Jonquil Lowe, author of Be your own Financial Adviser, says: "The government ...

  • A View From The floor

    23 May 2005

    Rachel Le Brocq, press and public affairs officer at the BSA, says many measures proposed in the Queen's Speech will have an impact on the financial services sector

  • A&L heralds shared ownership initiative

    23 May 2005

    Alliance & Leicester has welcomed the government initiative concerning shared ownership. Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, says: "This initiative is good news for first-time buyers and creates more opportunity for those that were previously unable to enter the propertymarket.

  • A&L launches affordability calculator on website

    25 May 2005

    Alliance & Leicester has launched a new affordability calculator on its intermediary website to help mortgage brokers quickly and easily find out how much their client can borrow.

  • Abbey dragged off high horse with 800k, says Which?

    25 May 2005

    Which? has hailed the Financial Services authority's decision to fine Abbey 800,000 as good news for the thousands who have been mis-sold one of their endowments.

  • Abbey fined 800,000 for mishandling mortgage endowment complaints

    25 May 2005

    The Financial Services Authority has fined Abbey National 800,000 for mishandling mortgage endowment complaints and for providing the regulator with inaccurate and potentially misleading information in its response to a letter to CEOs, from then FSA Managing Director John Tiner, regarding proper handling of mortgage endowment complaints.

  • Abbey welcomes shared ownership scheme

    23 May 2005

    Abbey has welcomed the government's shared ownership scheme.

  • Advantage 99 flat fee valuation offer

    27 May 2005

    Branded mortgage arranger Advantage Home Loans has replaced its current valuation fee scale in favour of a flat fee of 99.

  • AIFA welcomes FSA regulatory fees

    27 May 2005

    Following the publication by the FSA of its final fees and levies for 2005/06, David Severn, director general of AIFA has welcomed the FSA s review of the way the compensation scheme is funded. Severn says: "We welcome the much needed decision by the FSA to review of the way the compensation scheme is funded. This year IFAs face a massive 50% increase in their contribution to the levy and this is without taking account of any further call in respect of compensation for splits. ...

  • Alliance & Leicester launches new mortgage range

    24 May 2005

    Alliance & Leicester is launching a new range of mortgages, which are available from today.

  • AMI members to get discount

    23 May 2005

    The scheme has been set up to help brokers struggling with the additional costs of regulation. On July 1, brokers will be hit by their first consolidated invoice from the FSA. This will be a quadruple whammy consisting of the FSA fee, the Financial Ombudsman Scheme levy, the Financial Services Compensation Scheme levy and the stub period fee from October 31 2004 to April 1 2005.To help brokers, the FSA has joined with Premium Credit, part of the MBNA group, to set up an instalment ...

  • B&B buy loan portfolio from GMAC RFC

    27 May 2005

    Bradford & Bingley has today purchased a mortgage loan portfolio from GMAC-RFC for a consideration of around 210m.

  • B&W launches fixed rate lifetime product at 6.65%

    23 May 2005

    The mortgage has a lump sum release and a no negative equity guarantee, with competitive LTVs across all age bands.The deal is also Safe Home Income Plans accredited, which means home owners have the reassurance of knowing that B&W Mortgages belongs to an organisation dedicated to the fair and proper marketing of equity release plans.B&W Mortgages is aiming to break into the top four lifetime mortgage providers over the next 12 months.Dominic Toller, head of marketing for ...

  • Banco Halifax Hispania reduces mortgage rates

    23 May 2005

    Banco Halifax Hispania, the Spanish arm of Halifax, has reduced its mortgage rate with immediate effect.

  • Bank of Ireland sells Bristol & West branches and savings business

    24 May 2005

    Bank of Ireland is selling its Bristol & West branch network and savings business to Britannia for 150 million.

  • Barry Fry signs for em-financial

    26 May 2005

    Peterborough United Manager Barry Fry will be guest speaker at the forthcoming em- charity golf day in association with GMAC-RFC.

  • BM Solutions reduces fixed-rate deals

    23 May 2005

    BM Solutions has launched a suite of fixed rate deals that have been dramatically reduced across the buy-to-let and self-cert ranges.

  • Brokers can't be bothered with this innovative deal

    23 May 2005

    From C E Sheldon Some years ago I helped design a special mortgage repayment plan. Our second client repaid his remortgage last year, some six years early on a 14-year outstanding term. Even though the plan is not regulated, a few months ago it underwent a complete redesign in view of the new rules. The Omega Mortgage Management Plan now incorporates all the requirements of transparency, clarity and simplicity, including the use of plain English. It is also more flexible. The ...

  • Brokers urged to check websites are approved

    23 May 2005

    Mortgages PLC is urging brokers to make thorough checks to ensure their websites are Financial Services Authority approved.Julian Wells, head of marketing at Mortgages PLC, says brokers must be careful they are not offering advice without being able to produce Initial Disclosure Documents or Key Facts Illustrations.He says: "Any online data capture must be checked. If you take someone's personal information and then use it to promote particular products you may be crossing the ...

  • Brown's speech a bit rich, says Liberal Democrats

    24 May 2005

    Norman Lamb, Liberal Democrat shadow trade and industry secretary, has slammed Chancellor Gordon Browns promise to work with business to identify outmoded and unnecessary regulation as "a bit rich".

  • Buy-to-let market flat, say RICS

    27 May 2005

    The buy-to-let market has come to a standstill as a result of rising interest rates according to The Royal Institution for Chartered Surveyors latest lettings survey, published today.

  • Buy-to-let schemes damaging reputation of market

    24 May 2005

    The six buy-to-let firms taken to court by theDTI for selling get-rich-quick property schemes have been slammed by the managing director of The Money Centre.

  • c2 to stage secured loan workshops

    23 May 2005

    c2 secured is to stage a series of regional secured loan workshops across the UK showing brokers how they can break into second charge lending.

  • Career advisers do nothing to help sole traders move on

    23 May 2005

    From Rod Murdison When will Mark Witcomb, Colin Lloyd or any other recruitment specialist write something to help the large number of sole traders working in financial services who would like to leave the industry? Typically, these are men in their mid-40s to mid-50s who have ended up working for more than 10 years in financial services on a self-employed basis, more by default than any great desire to be insurance salesmen, and are earning about the same as mid-level civil ...

  • Carter Massey partners quit over Russell

    23 May 2005

    Andrew Bloom, managing director of Carter Massey, has emailed clients to say that both he and fellow director Barry Sutton had no choice but to resign as a result of shareholder Darren Russell failing to give up his financial holding in the firm.Russell is the owner of a firm called Homes Direct, a lettings and property management firm. The Office of Fair Trading took action against Russell in March following complaints by landlords and tenants who respectively have had deposits ...

  • Charlesworth to become head of Future Mortgages

    23 May 2005

    Charlesworth left TMO in the middle of February after a simplification of its management structure by parent Venturion Capital. His departure from TMO followed the closure of its network and the loss of 50 additional staff. Venturion later revealed it was setting up a sub-prime lending arm to be called Victoria Mortgage Funding. His appointment, revealed exclusively on www.mortgagestrategy.co.uk last Wednesday, has surprised some in the industry given ...

  • Cheshire offers credit repair mortgages through brokers

    24 May 2005

    In response to demand from the intermediary sector, the Cheshire has made its new three-year fixed rate credit repair mortgage available through the intermediary channel.

  • Cheval appoints marketing director

    23 May 2005

    Bridging loan specialist Cheval Property Finance has appointed Paul Rumbold as marketing director.

  • CHL and Focus team up to deliver electronic trading

    23 May 2005

    Focus Business Solutions has revealed an agreement with Capital Home Loans for the provision of an online mortgage application solution.

  • Clydesdale launch two and five year fixed rate products

    27 May 2005

    Clydesdale is launching two and five-year fixed rate products which will be available as offset or non-offset with no differential in the rates.The two-year fix will have a rate of 4.65% until July 31, 2007, a long with a five-year fix until July 31, 2010, with a rate of 4.75%.

  • CML calls for reform in Northern Ireland

    24 May 2005

    The Council of Mortgage Lenders has called for a Barker style of review of the housing market in Northern Ireland.

  • CML disappointed with FSA results on equity release

    24 May 2005

    The Council of Mortgage Lenders has noted with disappointment the results of the FSA's newly-published qualitative research on how equity release, lifetime mortgages and investments linked to them are being sold.

  • CML reports 21.5bn lending in April

    23 May 2005

    Gross lending in April totalled 21.5 billion, up by 2% on last month, according to the latest data from the Council of Mortgage Lenders.

  • CMLS adds Victoria to packaged lender panel

    25 May 2005

    Complete Mortgage and Loan Services has added new sub-prime lender, Victoria Mortgages, to its packaged lender panel.

  • Compass considers light adverse

    23 May 2005

    Sub-prime remortgage specialist Compass Finance says its looking at moving into the light adverse market as business has boomed over the past two months.Despite recent market warnings that the AIM-listed firm would not hit its lending target for the 2005 financial year, the company says business has picked up over the past two months, with it looking to lend around 2.5bn for the next financial year.Any move into light adverse would come on the back of a number of major internal ...

  • Consumers not being properly advised on equity release says FSA

    24 May 2005

    The Financial Services Authority has discovered that many financial advisers are giving poor quality advice to consumers on equity release.

  • Cost of regulation study gathers pace

    23 May 2005

    The Financial Services Authority has stepped up its study to measure the costs of regulation with the appointment of Deloitte to carry out research among regulated firms.

  • Curriculum Vitae - Peter Brodnicki

    23 May 2005

    "I'm pretty good at losing lots of money on shares"

  • David Seaman to play at em-charity golf day

    27 May 2005

    David Seaman will line up along side players at em-financial's forthcoming charity golf day in association with GMAC-RFC.

  • Deals for life could plug your income gap

    23 May 2005

    Few people outside the mortgage industry realise churning is still prevalent.

  • Dear Delia

    23 May 2005

    Dear Delia Sue and John have received confirmation from the council that they have the Right to Buy their council house at a discounted price of 50,000.

  • Depolarisation opens door to more consumer choice

    27 May 2005

    Consumers will find it easier to shop around for investment products and assess whether their adviser is providing value for money as the new disclosure rules from the Financial Services Authority for depolarisation come into force for all financial advisers. Advisers must provide two keyfacts documents, entitled about our services and about the cost of our services'. These will give consumers much clearer information earlier in the sales process about the type of advice and ...

  • Depolarisation will affect mortgages

    23 May 2005

    The mortgage sector will look on as the rest of the financial services industry prepares for depolarisation but it could indirectly affect many brokers' independent status, says Neal Smith

  • em achieves Rooftops first ever Scottish case.

    26 May 2005

    em-financial has submitted Rooftops first ever Scottish case, which has now gone to offer.

  • em-financial launches generic application form

    23 May 2005

    em-financial is now offering the benefit of a generic application form.

  • Ensuring your career gets off to a flying start

    23 May 2005

    Mark Witcomb is divisional sales manager at Venatus Business Intelligence

  • Ethics are key to business success

    23 May 2005

    The writers of this book focus on the key issues of integrity and ethics. We should all regard this as being vital in our businesses because we deal with peoples' key assets - their homes.

  • Financial Health Matters

    23 May 2005

    For everyone on the supply side of mortgages, the initials FSA mean one thing - regulation.

  • First National launches mortgage portfolio

    23 May 2005

    GE Consumer Finance Home Lending has launched a range of products and underwriting features under the First National brand.

  • First-time buyer initiative not enough

    24 May 2005

    David Bexon, chief executive of SmartNewHomes.com, the UKs leading new homes website, reacts to the governments shared ownership scheme for first-time buyers.

  • First-time buyers call for online debt test

    26 May 2005

    Nearly two thirds of recent first-time buyers say that an online debt test designed to help them to assess their future borrowing risk would be useful, says the Council of Mortgage Lenders.

  • Flood ravaged areas to receive government aid

    25 May 2005

    Carlisle, Cumbria, Allerdale, Copeland, Eden and South Lakeland Councils and Cumbria Police will all be given help with meeting the costs of clearing up the flood damage caused at the beginning of this year.

  • FMO increases protection and GI panel

    23 May 2005

    First Mortgage Options has increased its general insurer panel with the inclusion of Paymentshield for household insurance and ASU.

  • FOS surprised by low level of complaints since M-Day

    23 May 2005

    Speaking at the Mortgage Business Expo in Manchester last week, Jane Hingston, lead ombudsman for banking, said the FOS had received only 220 complaints in the past six months.Hingston says: "There were predictions we would be swamped after Mortgage Day but this hasn't happened and I'm optimistic it won't."Most of the complaints the FOS has received concern fees, delays, administration and factual or accounting errors, with the majority resolved informally in six weeks.Hingston ...

  • Friends Provident won't drop Saints sponsorship

    23 May 2005

    The Hampshire side recently dropped out of English football's top flight for the first time in 27 years but the current Friends Provident contract runs until the end of the 2005/06 season.Friends Provident started its sponsorship of the Saints in 1999 and renewed its backing in 2001 and again in 2003.The deal sees the life, pensions and asset management group hold naming rights for Southampton's 32,250-capacity ground which is currently called The Friends Provident St Mary's ...

  • FSA calls for lenders' data on transactions

    23 May 2005

    The Financial Services Authority is calling on all lenders to send in their transaction data to enable it to create credit risk files on firms.Andy Watson, head of supervision of the high street firms division at the FSA, says: "We want lenders to send us transaction data about the types of products and business they are doing with brokers. We will then turn the data round and create electronic credit risk files on firms."The information will also be passed on to the Council ...

  • FSA creates accounting and auditing sector team

    23 May 2005

    The FSA has created an accounting and auditing sector team to co-ordinate work across the FSA that involves accountancy issues.

  • FSA makes stand on KFIs

    27 May 2005

    The Financial Services Authority has made a stand over Key Facts Illustrations well, sort of.

  • FSA says KFIs should be just five pages long

    23 May 2005

    The Financial Services Authority has finally put its foot down on lengthy Key Facts Illustrations, saying a KFI for a standard mortgage should be no longer than five pages.Following a review, the regulator wants to promote a less is more strategy on disclosure, and says of the KFIs it has looked at, only around half were five pages or less.It has offered to work with the industry to help raise standards.Clive Briault, managing director retail markets at the FSA, says: "We ...

  • FSA: consumers are not being properly advised on equity release

    24 May 2005

    The Financial Services Authority has discovered that many financial advisers are giving poor quality advice to consumers on equity release.

  • Genesis offers on-site underwriting with Victoria Mortgages

    27 May 2005

    Genesis Home Loans has added new sub-prime lender, Victoria Mortgages, to its branded lending panel.

  • GMAC extends sub-prime criteria

    23 May 2005

    GMAC-RFC is extending its criteria for sub-prime mortgages to cover Right to Buy and buy-to-let, making them available to intermediaries.It is also extending the end date for its fixed and discounted sub-prime mortgage products after reporting an increase in sub-prime business which it claims makes it the number one sub-prime lender.Jeff Knight, head of marketing services at GMAC RFC, says: "GMAC-RFC is happy to knock the competition for six with competitive rates, straightforward ...

  • GMAC to launch cascade system

    23 May 2005

    GMAC-RFC is developing a cascading system and intends to have it operational by October.The procedure will see cases automatically transferred up or down into different categories if they do not meet the criteria for the mortgage originally applied for.This would make the application easier for both the consumer and intermediary as the case would not have to be resubmitted. Using the cascading system will not affect footprints left by previous searches.Jeff Knight, head ...

  • Government plans welcome, but planning system requires radical reform

    25 May 2005

    SmartNewHomes.com says while the government's to extend home ownership are a step in the right direction, but warns that the planning system requires radical reform.

  • Guaranteed Home Loans signs up to Key

    26 May 2005

    Guaranteed Home Loans has signed up to Key to process its mortgage applications.

  • Halifax denies business is down

    23 May 2005

    Halifax insists business levels are up, despite reports that mortgage applications are down by almost 40% in some regions.One broker was told by Halifax that business was quiet and mortgage applications to its South-East call centre were down by almost 40%.The broker says: "I was talking to Halifax's office in the South-East and it said mortgage applications are down by about almost 40% and that it has only been doing 100 applications a day whereas it would normally do 160."Halifax ...

  • House price stagnation continues, reveals Hometrack

    23 May 2005

    The Hometrack May survey of the national housing market reports a further fall of -0.1%.

  • Housing market reaches turning point

    23 May 2005

    SmartNewHomes.com says that after several months of decline, the housing market has reached a turning point. David Bexon, chief Executive of SmartNewHomes.com, says: The latest report from Hometrack forecasts continuing stagnation for the next few months and reports that house prices have dipped by 0.1% over the month.

  • ifs to launch advanced CeMAP qualification

    23 May 2005

    The Institute of Financial Services is to launch a qualification that will cover home reversion plans.

  • Industry interest in Mortgage Summit continues to mount

    23 May 2005

    Interest in Mortgage Strategy’s Mortgage Summit in Spain, the industry’s premier event for mortgage strategists, continues to mount.

  • Internet Insight

    23 May 2005

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Jeff Sutherland-Kay checks out the websites of brokers, product providers, clubs, networks and packagers

  • It's time for an offshore outsourcing accreditation

    23 May 2005

    From Stuart Drew The conclusions of the recent FSA report into the security of Indian offshore outsourcing organisations and the reactions to the report have made for interesting reading. It is encouraging to see more stories reporting positive developments for offshore outsourcing than some of the scaremongering we've seen in the past. The FSA endorsement that Indian organisations have a clean bill of health regarding customer data is especially welcome. The old misconception ...

  • KFIs have been good for the industry

    23 May 2005

    Despite the initial reservations, KFIs have proved to be good for the mortgage industry and the idea has huge potential if the FSA heeds the advice of professionals, says Tony Capon

  • L&C launch five-year fix

    26 May 2005

    London & Country has launched a new fix at 4.85% for five years.

  • L&G appoint group chief executive

    27 May 2005

    Legal & General has appointed Tim Breedon to succeed David Prosser as group chief executive.

  • L&G has mis-selling fine halved to 575,000

    27 May 2005

    The Financial Services and Markets Tribunal has halved the fine Legal & General was given on January 18, reducing it from 1.1m to 575,000.

  • Labour claims countryside protected for future generations

    26 May 2005

    Labour says its proven commitment to recycling previously developed land and making better use of existing development land is helping to protect our countryside for future generations to come.

  • Leeds & Holbeck raise money for Cancer Research UK

    27 May 2005

    A team of employees from Leeds & Holbeck has raised over 1,200 for Cancer Research UK.

  • Lemon Squeezy launches client newsletter

    23 May 2005

    Lemon Squeezy Marketing, the specialist financial services marketing agency, has announced the launch of a client newsletter service for mortgage brokers.

  • Levy reduced for general insurers

    26 May 2005

    FSCS has updated its initial 2005/06 levy requirements to take account of a substantial recovery now expected from the KWELM estate, of which it is a creditor.

  • Linda Williams joins Rooftop as operations director

    26 May 2005

    Rooftop Mortgages has appointed Linda Williams as its new operations director, to help manage its increase in business volume.

  • Liquid Assets

    23 May 2005

    Following Norwich Union's launch into the home reversion market and the Queen's Speech confirming that home reversions will soon be regulated by the Financial Services Authority, it's clearly time to sit up and take note.

  • Loan approvals show signs of support for mortgage market

    27 May 2005

    British Bankers Association figures for April show gross mortgage lending was 14.1bn in April 3% higher than March but 13% lower than April 2004.

  • Market achieving soft landing, says BSA

    23 May 2005

    Building society gross advances amounted to 3.4bn in April 2005, compared to 4bn in April 2004.

  • Market Watch

    23 May 2005

    Swap rates continued their downward march last week.

  • Money that can slip through the net

    23 May 2005

    Online advertising is a tempting, boom area but could be a waste of money if mortgage companies do not proceed with caution when determining their strategies, says Frank Eve

  • Mortgage Next launches buy-to-let exclusive

    23 May 2005

    Mortgage Next has launched an exclusive buy-to-let lifetime tracker mortgage funded by the Derbyshire.

  • Mortgage Trust launch buy-to-let products

    27 May 2005

    Mortgage Trust, the specialist buy-to-let lender has added a one-year fixed rate of 5.29% and a three-year fixed rate of 5.55% to its buy-to-let core range.

  • Mortgages PLC has record month in April

    24 May 2005

    Mortgages plc says it had a record month in April with the value of mortgage applications received representing a 315% increase since January 2005.

  • MPLC expands sales and marketing team

    25 May 2005

    Mortgages PLC has expanded its sales and marketing team, resulting in recent promotions for a number of existing staff. Mark Harrison, Simon Cossons and Sally Young have all been awarded promotions within the regional sales team.

  • Mutual One expands mortgage partnership

    27 May 2005

    Mutual One has launched its portfolio acquisitions today,.

  • N&P says it had to raise fees to stay competitive

    23 May 2005

    N&P has increased 12 of its fees and almost doubled its redemption administration charge and sealing fee from 75 to 140 in a move it says is in line with other lenders.Increased charges include the deeds query fee which has increased by 10 to 20, the agreement to letting fee which has increased by 40 to 100, and the deeds photocopying fee which is up 5 to 20.Alison Rolls, spokeswoman for N&P, says: "The increase in the redemption administration fee reflects the increase in administration ...

  • Nationwide backs call for NI banks to start treating customers

    26 May 2005

    Nationwide has welcomed the decision of the OFT to refer the market for personal current account banking services in Northern Ireland tothe Competition Commission.

  • Nationwide launches two-year fix at 4.69%

    23 May 2005

    Nationwide has revealed details of its revised fixed rate mortgages including a two-year fixed rate available from 4.69%.

  • NatWest launch annual 10% overpayment option

    27 May 2005

    NatWest Mortgages has launched an annual 10% overpayment option on every deal.

  • NatWest launches remortgage deal

    23 May 2005

    NatWest has launched a remortgage deal to the intermediary market as part of its revamped mortgage range.

  • NFRL gives evidence to Scottish Parliament

    27 May 2005

    The National Federation of Residential Landlords gave evidence to a Parliamentary Committee in the Scottish Parliament on Wednesday May 11, concerning the Scottish Housing Bill.

  • Nicks Notes

    23 May 2005

    A few developments recently give an insight into how the year is shaping up. One piece of news is the slump in retail sales.

  • Nine out of 10 first-time buyers dont get home they want

    26 May 2005

    First-time buyers have always had to balance fantasy with financial reality, but now many are having to settle for second best, says Bradford & Bingleys first-time buyer report.

  • No premium increase from Select & Protect

    23 May 2005

    Select & Protect has confirmed to business partners and customers alike that no premium increases will be put in place for 2005. The revelation follows strong underwriting results for 2004, where the company saw a combination of a decrease in the cost of weather related claims coupled with a general downward movement in premiums in the housing market.

  • Northern exposure for property market

    23 May 2005

    The UKs biggest show for homebuyers and property investors is moving into Manchester. A wealth of opportunities for property investment both in the UK and overseas will be offered to northern-based investors and homebuyers next month when the second Property Investor and Homebuyer Show North comes to the area. Following on from the success of the inaugural event last year, the show will return to the G-Mex Centre in Manchester from Friday 24 to Sunday June 26 2005. ...

  • On The Beat

    23 May 2005

    Sometimes I think we should ask ourselves more tough questions.

  • One in ten Britons with no contents cover

    24 May 2005

    No excuse for one in ten Britons to do without contents cover says insuresupermarket.com.

  • Online tool for equity release

    23 May 2005

    The Council of Mortgage Lenders has created an online tool that highlights how a person's benefits and taxes will affect their equity release deals.Called FINTAL, the CML has designed the system in conjunction with Ferret Information Systems.Gareth Morgan, chief executive at FIS, says clients are often misled into thinking the more equity they take out of their homes, the greater their income will be.He says this is not always the case, especially once a person's benefits ...

  • Personal banking in NI faces new probe

    26 May 2005

    The Office of Fair Trading has referred the market for personal current account banking services in Northern Ireland to the Competition Commission for further investigation.

  • Platform launch two and five year fixed rates

    24 May 2005

    Platform, the intermediary lender of Britannia , is launching two and five- year fixed rate mortgage deals on its self-certification and buy- to- let ranges. The fixed rates have been launched following the recent decrease in the price of fixed rate funds and are designed to maintain Platform's position within these markets.

  • Pru drops NR to develop own lifetime mortgage

    25 May 2005

    Prudential have revealed plans to stop distributing Nortern Rocks equity release product and develop its own lifetime mortgage.

  • Quality candidates should read between the lines

    23 May 2005

    Colin Lloyd is head of operations at Reed Insurance

  • Queen rubber stamps legislation on reversions

    23 May 2005

    While lifetime mortgages fall under the remit of statutory regulation, home reversion schemes - which see elderly people sell a share of the equity in their home in return for an annual income - have not yet been policed.The Queen told peers and MPs: "A bill will be introduced to improve protection of consumers by bringing home reversion plans within the scope of the Financial Services Authority."This was welcomed by a number of industry figures, particularly a coalition of ...

  • Rates Ladders

    23 May 2005

    I'm sure you'll find this hard to believe, but during the past two months I've had no fewer than six offers from India to rearrange my mortgage at a better rate.

  • Real cost of compliance for brokers

    23 May 2005

    Mortgage intermediaries must analyse their compliance costs in terms of both money and time if they are to survive and grow in the regulated marketplace, says Jeff Sutherland-Kay

  • Regulation prevents rather than promotes good advice

    23 May 2005

    Name and address supplied I write regarding your recent coverage of the BSA conference (Mortgage Strategy May 9), and in particular the story saying that FSA regulation is a sledgehammer to crack a nut. I applaud some of the sentiments expressed - too many commentators are afraid to speak the truth about the likely impact of regulation. If it follows the same route as the regulation of designated investments it will result in similar outcomes, including good brokers leaving ...

  • RICS calls for more government built houses

    26 May 2005

    The Royal Institute of Chartered Surveyors has welcomed yesterday's plans to create one million more homeowners by 2010, but says the government needs to buy more homes.

  • S&P to unveil age-banded MPPI product in July

    23 May 2005

    General insurance provider Select & Protect is to launch its Intego mortgage payment protection insurance product on July 1.S&P says Intego, underwritten by Norwich Union, is an age-banded product that will be the first of its kind. It means intermediaries and introducers can offer clients a fairer deal based on their age, rather than being forced to take a one price fits all approach.Pricing structure is based on age of entry to the scheme and maintained for the life of the ...

  • Sell the benefits of lifestyle deals

    23 May 2005

    Offset and current account mortgages may be winning favour among home owners but as we explore in our cover feature starting on page 42 this week, it would appear both still have some way to go before intermediaries throw their weight fully behind them.

  • Shared equity scheme could destabilise UK house prices, warns Fitch

    25 May 2005

    Following the release of the Government's plans to extend home ownership, Fitch Ratings, the international rating agency, warned that unless demand for the new proposed shared equity products is managed effectively with increased supply, the proposals risk destabilising house prices.

  • Should best buy tables take into account the true cost of a mortgage rather than just lowest rate?

    23 May 2005

    Ranking mortgages according to interest rate is not always the best way of judging which are the best value deals, say our experts

  • SIPPs investors urged to seek expert advice

    23 May 2005

    Experts at the Property Investor and Homebuyer Show North are warning that investors need to exert caution to ensure their investments avoid pitfalls. A-Day will see major changes to the rules regarding Self-Invested Personal Pensions.

  • Skipton sees business treble

    23 May 2005

    Skipton has revealed that its mortgage business has almost tripled over the past year, as brokers take into account service rather than rates alone.Colin Dale, head of mortgage lending at Skipton, says brokers are starting to choose good service and look for lenders who can sustain high business levels.He says: "We have seen business go up across the board since regulation, with it almost tripling in March and April this year compared with the same period last year. It is not ...

  • Skiptons executives lend a hand

    27 May 2005

    Executives from Skipton have transformed the land around the LMS Club in Skipton from baron wasteland to a landscaped Yorkshire in Bloom competition entry.

  • Small law firms are keen on HIPs

    23 May 2005

    Small legal firms are upbeat about Home Information Packs, with 67% keen to take part in the voluntary dry run of packs, research by ConveyanceLink reveals.The government is planning a dry run of HIPs from July 2006 to enable property professionals to test the process for marketing homes and learn from the experience before HIPs become mandatory in early 2007.The survey reveals the majority of small law firms want to be involved because they believe HIPs will help them win business.They ...

  • Sole traders fight a losing battle

    23 May 2005

    Directly authorised brokers are essentially no more independent than the appointed representatives of a network that offers a whole of market panel, says Richard Griffiths

  • SPPL launches website

    23 May 2005

    Southern Pacific Personal Loans, the sister company to SPML that specialises in secured second charge mortgages, has launched its dedicated website.

  • Students under pressure

    23 May 2005

    The pair are taking the Certificate in Lifetime Mortgages, run by the Institute of Financial Affairs.As Hillier admits: "Anything short of a merit will be considered a failure."The certificate costs 105, and for that students get learning materials and an exam entry.Hillier has ploughed his way through the course book which consists of 78 A5 pages, split into three main units. The first is an introduction to equity release, the second section goes through the different types ...

  • 'Super' packaging should be about service, not marketing

    23 May 2005

    From Dave Gould I am amused how the concept of super packagers has evolved in the past few months. At times it takes on a histrionic tone but generally manifests itself as beard stroking, sagaciously nodding, "we saw this coming" pretension. It has become a mantra of those who see themselves as having vision in a market seriously lacking in it, and who like to reassure those repeating the mantra with them that they too are people of vision. A Cartel spokesman recently said ...

  • Surrendering not only option for endowment policyholders

    24 May 2005

    The Association of Policy Market Makers has warned policyholders that they could lose out financially if they surrender their endowment.

  • Surviving an FSA audit

    26 May 2005

    Compliancy Services Offers practical advice on preparing businesses for their first FSA audit.

  • TBMC offers 4.99% three-year fixed rate B2L mortgage

    23 May 2005

    The Business Mortgage Company has lanched a buy-to-let mortgage fixed at 4.99% for three years as part of its Mortgage Trust Select Range.

  • The Mortgage Mole

    23 May 2005

    "Digging the dirt in the mortgage world"

  • The offset advantage

    23 May 2005

    Though intermediaries remain sceptical about offset mortgages, they should consider promoting these deals as they can be great value for the right customers, says Harvey Jones

  • Trigold ranked 17th in Sunday Times Tech Track 100

    26 May 2005

    Trigold is celebrating after it ranked in 17th place in the Sunday Times Microsoft Tech Track 100 for Britains fastest growing technology companies.

  • Trust Together customers, say 76%

    23 May 2005

    BM Solutions warned lenders to ensure they are lending responsibly to avoid the risk of the Financial Services Authority banning sub-prime at the Mortgage Business Expo in Manchester last week.Martin Reynolds, head of key accounts at BM Solutions, says: "Lenders must be careful they do not abuse the market and ensure they are lending responsibly. There is a risk the FSA could ban sub-prime business if the market is abused."BM Solutions is to launch a near- prime and extra light ...

  • Tudor utilises GMAC-RFC's automated underwriting system

    23 May 2005

    Tudor Mortgage & Finance, who badge lends for GMAC-RFC under its Tudor Home Loans brand, has added GMAC's automated underwriting system to its. armoury.

  • Turnaround in UK expectations extraordinary, says F&C

    23 May 2005

    The turnaround in financial market expectations for UK base rates has been extraordinary.

  • Two-year variable rates improve

    23 May 2005

    Mortgage Advice Bureau's research into best buy rates for first-time buyers shows two-year variable rates have become even more affordable since the start of the year.A comparison of repayments of two, three and five-year best buys for a 100,000 mortgage shows that currently two-year variable rates are 544.70, three-year are 569.54 and five-year are 589.85 per month.It finds that towards the end of last year, five-year variable rates were better value than the three- year rates ...

  • Website gives geographic phone numbers of lenders

    23 May 2005

    From Stuart Duncan Regarding your reader who deplores the use of 0870 telephone numbers, this is something being looked at by the telephone regulator. In the meantime, visit the website www.saynoto0870.co.uk which gives the geographic numbers of many banks and building societies and should be supported by all members of the public. Stuart DuncanTaylor Engley Mortgage Services By email

  • What's happening with interest rates

    23 May 2005

    The turnaround in financial market expectations for UK base rates has been extraordinary.

  • Will the housing market fall by one-third?

    23 May 2005

    Philip Williamson, chief executive and newly appointed chairman of the Building Societies Association, last week told Mortgage Strategy: "I expect the housing market to be a third smaller this year. Last year, net lending across the industry was 100bn and I predict it will only reach 70bn this year."So, Mortgage Strategy asks: Do you think the housing market will be a third smaller this year?John Stewart, PMI Independent Financial Adviser From what I've seen, ...

  • Woolwich launch fixed rate mortgage deals

    26 May 2005

    Woolwich has launched a suite of fixed rate deals to meet the increasing consumer demand for fixed rate products, available from tomorrow.

  • Your Move to a quick result

    27 May 2005

    Your Move estate agency has just taken on the first twelve new wave mortgage advisors, assessed, recruited and professionally trained by meta-morphose International.

  • Zest launches range of sub-prime products

    23 May 2005

    Zest Home Loans has developed a range of sub-prime mortgage products in conjunction with Stroud & Swindon Mortgage Company.The deals are targeted at clients who with some level of adverse credit from minor arrears to heavy adverse, multiple CCJs and even discharged bankruptcy, which mean they cannot get favourable lending conditions from high street lenders.Named Hedgerow and available throughout England and Wales up to 90% LTV, the range has three products for three levels ...

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