Mortgage Strategy
24 April 2006

  • 45% Of brokers are wary of selling equity release

    24 Apr 2006

    Research by Alliance & Leicester Intermediary Mortgages exclusively for Mortgage Strategy shows that 45% of intermediaries would not consider selling equity release.Only 27% of mortgage brokers sell equity release and 28% say they might consider selling the product.As Mortgage Strategy's Release it Right Campaign continues, A&L's research among 200 brokers across the country confirms that equity release is still an area many intermediaries do not feel confident ...

  • 76% Find it tough to fund new-build properties

    24 Apr 2006

    76% of Mortgage Strategy Online readers say they find it hard to secure finance on new-build properties.The Mortgage Works recently announced it would no longer accept applications for buy-to-let mortgages on new-build properties, and other len-ders are rumoured to be poised to follow suit.This week, Mortgage Strategy Online asks: "Do you feel confident about selling self-cert mortgages?"

  • A small victory and a big question

    24 Apr 2006

    Despite occasional minor victories for brokers and their clients the cut of valuation fees taken by lenders is a subject an investigative journalist should get their teeth into, says Sue Read

  • A&L launches two year base rate tracker

    27 Apr 2006

    Alliance & Leicester is launching a new range of mortgages, which is available immediately to all intermediaries and includes a two year base rate tracker feesaver with a rate reduced by 0.05% to 4.99%, five year discount and the product fee reduced by 200 to 299.

  • Abbey re-launches buy-to-let range

    24 Apr 2006

    Abbey is re-launching its buy-to-let range of mortgages.

  • Abbey's results for quarter one 2006 show a rise in statutory profit

    28 Apr 2006

    The first quarter highlights include statutory profit before tax higher than the first quarter 2005 due to a substantial increase in trading profits partly offset by higher reorganisation expenses, reflecting early stages of reorganisation activity in the first quarter of 2005.

  • Absentee tax plan denied

    24 Apr 2006

    The Commission for Rural Communities says it will not impose higher taxes on second homes despite reports that it is considering slapping an 'absentee' tax on Britain's 328,000 second home owners.It was reported in last week's national press that the CRM has submitted a report to the Affordable Rural Housing Commission and the Office of the Deputy Prime Minister suggesting an extra tax for landlords who leave their properties empty for months in areas where second home ownership ...

  • Affordability is the modern solution

    24 Apr 2006

    Income multiples have long been the backbone of lenders' assessments of customers' maximum borrowing capacity and they are still widely used.

  • Agents don't understand HIPs

    24 Apr 2006

    Research by HIP provider SimplyHIP shows 84% of estate agents don't understand the financial implications of not having a HIP in place prior to selling a property after June 1 2007.

  • Anti-social behaviour hits small businesses, says Zurich

    27 Apr 2006

    Over half (54%) of the UKs small business owners admit to falling victim to abusive and threatening behaviour whilst at work or on company business according to research by business insurer, Zurich.

  • ASDA to launch into the property market

    28 Apr 2006

    ASDA says it is planning to be the first UK supermarket to move into the property market.

  • Assurant solutions launches new product

    25 Apr 2006

    Assurant Solutions has launched its new Matrix product, which enable lenders and brokers to help those consumers exposed to the risks of rising repossessions and increasing levels of debt..

  • B&B purchase loan from GMAC-RFC

    25 Apr 2006

    Bradford & Bingley plc has today purchased a mortgage loan portfolio from GMAC-RFC for a consideration of around 328m.

  • B&B says mortgage demographics remain strong

    27 Apr 2006

    Steven Crawshaw, B&B group chief executive, says that the demographic drivers of the mortgage market "remains strong".

  • B&B sees reassuring growth

    24 Apr 2006

    Bradford & Bingley's market review for Q1 2006 says the housing market shows reassuring growth, with a 27% increase in lending levels compared with the same period last year.

  • B&W launches Giraffe

    27 Apr 2006

    Bristol & West plc is launching its online mortgage proposition Giraffe.

  • B2L growth is good news for brokers

    24 Apr 2006

    The success of the buy-to-let market in recent years is well documented. This success has been built on lenders providing flexible and competitive product ranges in response to calls from intermediaries. And there's more good news as the buy-to-let sector looks set to expand in 2006 and beyond.

  • Beardshaw takes top sales role at Platform

    24 Apr 2006

    Platform has appointed Richard Beardshaw as head of sales, replacing Jeremy Duncombe who quit earlier this month to join North-West-based Advantage Homeloans.Beardshaw will be responsible for managing Platform's 20-strong sales force and the company's sales strategy, as well as managing corporate and large introducer relationships.He has worked for Platform's sales department for over seven years in various roles including as a business development manager, regional sales manager ...

  • Being anti-HIPs does not mean being anti-progress

    24 Apr 2006

    From Peter Bolton King I found the article in your April 10 edition by Paul Broadhead of the Association of Home Information Pack Providers interesting, if one-sided. Broadhead claims those in the industry against the introduction of Home Information Packs are against improving the industry. Not so. The National Association of Estate Agents constantly campaigns for improvements, but we do not believe HIPs are the best way to smooth the buying and selling of homes. The NAEA's ...

  • Being ready for HIPs will pay off for brokers

    24 Apr 2006

    I suspect I am correct in thinking that although most brokers are aware that the government has published a time-table for the implementation of Home Information Packs, they know little about what the timetable contains.

  • BIBA calls on insurers to cover terrorism in travel insurance policies following Egyptian bomb

    27 Apr 2006

    Following the recent bomb attack in Egypt, the British Insurance Brokers Association, has called on insurers to cover terrorism as a matter of course in insurance policies and warned travellers to check their policies.

  • Britannia launches flagship management learning academy

    28 Apr 2006

    Britannia is to launch a learning academy that will give the societys managers "the attitude, skills and tools they need to guarantee its future" for years to come.

  • Business failures up by 13%, says Equifax

    24 Apr 2006

    Despite Gordon Browns insistence that the UK economy is thriving, the latest analysis from Equifax, the business information specialist, reveals that business failure rates are up in Q1 2006 by 13%.

  • Business Lending widens its scope

    24 Apr 2006

    Business Lending, the London-based specialist commercial lender, is expanding its business to include the wider broker market. BLL provides mortgage loans to SMEs and investors in small and medium-sized commercial properties.

  • Buyers must know how to use HIPs

    24 Apr 2006

    The government is embarking on a campaign to educate the industry and, later in the year, the public about the merits of Home Information Packs.

  • Buy-to-let house prices drop by 1.5% in March

    25 Apr 2006

    As activity in the buy-to-let sector remains strong, the average price at which landlords acquire investment properties eased slightly in March, reflecting the sustained tenant demand particularly for properties at the lower end of the price spectrum and a surge in activity on the part of smaller scale investors.

  • C&G launches fixed rate deals range

    24 Apr 2006

    Cheltenham & Gloucester is stepping up its strategy of securing a larger slice of the mortgage market in 2006 with the launch of a fixed rate mortgage range.The range has lower minimum loan sizes on its best rates and is fees-free for remortgages.The fixed rate range is available through intermediaries as well as branches of C&G and Lloyds TSB.It includes a two-year fixed loan at 4.45% and a three-year loan at 4.69%, both of which are available to customers borrowing at ...

  • Callcredit data solutions receives Microsoft highest honour

    27 Apr 2006

    Callcredit, as part of the Skipton Information Group, has become the first UK credit reference agency to be accredited as a Microsoft Gold Certified Partner, the highest level of the Microsoft partnership program.

  • Catholic launch Guarantor Plus mortgage

    28 Apr 2006

    Catholic has launched a mortgage deal that will allow potential applicants to borrow up to 100% of the property value, with 25% of the loan secured with additional suitable security.

  • Cheshire deals on Trigold

    24 Apr 2006

    Cheshire Mortgage Corporation's products are now live on Trigold, allowing brokers access to a wide range of products.

  • CI is now in a more stable condition

    24 Apr 2006

    The future of critical illness cover is looking a lot more stable and significantly brighter following the review by the Association of British Insurers' critical illness working party and the subsequent launch of the Statement of Best Practice.

  • Commercial mortgages can boost brokers' incomes

    24 Apr 2006

    From Andrew Murray In a recent article by Nicola York on residential mortgage brokers branching out into commercial loans, the comments from industry figures characterise commercial business as difficult, confusing and foreign to residential brokers. With all due respect to those commenting on this subject, there are several reasons brokers should consider adding commercial loans to their advisory services. Three non-traditional lenders offer commercial loans on a self-cert ...

  • Competition Commission says customers face high loan prices

    28 Apr 2006

    The Competition Commission has released its report on competition in the home credit market.

  • Competition hits SLB gross lending

    24 Apr 2006

    Standard Life Bank has blamed growing competition for a fall of £1bn in gross lending in 2005.

  • Complete offers 95% LTV self-cert

    25 Apr 2006

    Through its GMAC-RFC branded lending operation, Complete Residential Funding, Complete Mortgage and Loan Services is offering limited availability to its 95% LTV self-cert fixed rate and discounted products with no extended early repayment charges.

  • Confidence is key to success

    24 Apr 2006

    Psychology plays a big part in the success of the housing market, says John Charcol. The brokerage says March's lending figures from the Council of Mortgage Lenders show consumer confidence is key.

  • Consumers turn to internet first

    24 Apr 2006

    The internet is the first port of call for potential IFA clients planning to take financial advice, a survey for IFA Promotion reveals. A quarter of IFAs' target market say they would first look for information online, 22% would make for a bank or building society, 20% would head for a high street IFA, and 16% would ask friends or family.

  • Coventry eyeing sub-prime market

    24 Apr 2006

    Coventry is believed to be planning a launch into the sub-prime market this summer.One source tells Mortgage Strategy the society will be funding products itself and piloting the scheme through controlled distribution - possibly two or three packagers.The source says: "Coventry is looking at launching into the sub-prime market around June. I suspect this will only be through closed distribution to start with - possibly two or three packagers."David Mead, director ...

  • Cupar rated Britain's top property hotspot

    28 Apr 2006

    Cupar in Fife is Britain's top property hotspot with a 36% rise in prices over the past year, shows Halifax's Price Index.

  • Curriculum Vitae - Peter Charge

    24 Apr 2006

    "I've been a Chelsea supporter for more than 30 years"

  • Cutting out estate agents

    24 Apr 2006

    Mouse Sale is launching an online property sales system that lets buyers and sellers make property transactions without having to use estate agents, potentially saving them thousands of pounds in fees. mousesale.co.uk also offers ancillary products and services such as conveyancing, mortgages and insurance.

  • Cutting the burden of regulation

    24 Apr 2006

    AMI suggests we question the impact of regulation and companies can do this by submitting suggestions to the FSA and the Better Regulation Executive, says Bill Warren

  • Davenham Property Finance appoints commercial mortgage manager

    24 Apr 2006

    Davenham Property Finance has appointed a commercial mortgage manager for its new commercial mortgage.

  • DB Mortgages gets off the ground with packager pilot

    24 Apr 2006

    The industry welcomed the long-anticipated arrival of DB Mortgages last week.DB Mortgages hit the UK market by piloting products through three packagers, offering specialist and sub-prime deals. It intends to offer a wider product range in the future, including prime and heavy adverse.Managing director Bill Dudgeon launched the mortgage lending group of DB UK Bank, part of the Deutsche Bank Group, alongside sales and marketing director Mark Bergin, operations director Paul Graham ...

  • Dear Delia

    24 Apr 2006

    Dear Delia Tim and Alice bought their house six years ago. It is now worth 160,000. They have a mortgage of 107,000 and want to remortgage to borrow 13,000 to pay off debts. They have a joint salary of 38,000 and County Court judgements of just under 1,900, plus credit card debts of 9,000. They have missed one mortgage payment in the past three months. They want to know what they will have to pay per month, and would like a lower rate in the first year.

  • Direct Line deals come with extras

    24 Apr 2006

    Direct Line has launched a suite of fixed rate mortgages which are available with discounted home insurance and free home emergency cover for two years.

  • Do lenders' cascade systems represent the future of mortgage lending?

    24 Apr 2006

    Our experts are split - lenders say their cascade systems have certain advantages but distributors believe they offer better service

  • Eddie Smith to leave as BuildStore hires BDMs

    24 Apr 2006

    Eddie Smith, head of distribution at BuildStore, is being made redundant following the recruitment of three field- based business development managers.BuildStore says it decided to increase its face-to-face presence with intermediaries after running a series of seminars at which the issues surrounding self-build finance were explained.On the back of this it is to recruit three field-based business development managers to supplement the existing telephone-based broker team of ...

  • Endowment price pledge

    24 Apr 2006

    Integrity, a specialist in the traded endowment policy selling market, has launched a best price pledge for policyholders wishing to sell with-profit endowment policies that expire between 2018 and 2025.

  • England: Three lions continue to roar

    24 Apr 2006

    England has qualified for the World Cup on no fewer than 11 occasions, winning on home soil in 1966 and reaching the quarter finals on five other occasions. During those 11 World Cups we have played 50 games, of which we won 22, drew 15 and lost 13.

  • Equity business continues to increase

    24 Apr 2006

    This week will see the release of Key Retirement Solutions' latest market monitor for equity release which will again show the hotspots and cold spots for equity release in this country.

  • First And Last

    24 Apr 2006

    Chris Cummings, director-general, AMI

  • FSA develops tools to help RMAR reporting

    24 Apr 2006

    The Financial Services Authority has issued advice on completing the Retail Mediation Activities Return for financial advisers, mortgage advisers and general insurance intermediaries.

  • FSA fines firm 20,000 for not seeking approval for individual

    28 Apr 2006

    The Financial Services Authority has imposed a penalty of 20,000 on insurance intermediary Besso Limited for failing to apply for approval of an employee who held a significant management role at the firm when it first applied for authorisation.

  • FSA may regulate second charges

    24 Apr 2006

    Bringing financial promotions for all secured loans under the remit of the Financial Services Authority could be the first step towards the regulation of second charge lending.Later this month, the FSA will consult on changing its rules so advertisements subject to dual regulation need only contain one risk warning.Stephen Atkins, managing director of Freedom Finance, says the FSA will have to take more ownership of secured loans. He says if it does not it risks being in breach ...

  • FSA updates passporting webpages

    24 Apr 2006

    The Financial Services Authority has updated its webpages to help firms with the passporting notification process.

  • FSA updates payout advice

    24 Apr 2006

    The Financial Services Authority is rewriting its endowment mortgage factsheet to include guidance on using compensation to address shortfalls.

  • FSSC publishes new standards for retail financial services

    28 Apr 2006

    The Financial Services Skills Council has published new industry performance standards for retail financial services, covering banking and building society activities, general insurance, life assurance, financial advice and investment administration. The need for a major overhaul of the original national occupational standards emerged as the FSSC worked with firms and industry experts to update them.

  • Funding for access initiative

    24 Apr 2006

    Chief secretary to the Treasury Des Browne says money from the Financial Inclusion Fund will be made available to support a new Financial Inclusion Taskforce campaign. The campaign will address the barriers to accessing banking products and sources of affordable credit.

  • Good response to em- relaunch

    24 Apr 2006

    Packager and branded arranger em- reports a huge response to the relaunch of its em-homeloans RX range, in association with Rooftop Mortgages.

  • Good time to sell endowments

    24 Apr 2006

    Lending usually starts to pick up in March after the traditional lull in house buying activity during the winter months. But lending was unseasonally strong in the past winter, producing five consecutive monthly record lending figures.

  • Gross mortgage lending rose by 26% in March

    24 Apr 2006

    Gross mortgage lending in March reached 28.3bn, an increase of 26% over the previous month, says the Council of Mortgage Lenders.

  • Halifax GI agrees deal with Sesame

    24 Apr 2006

    Halifax General Insurance has agreed a deal with Sesame to become a provider of Household and ASU Insurance to its 7,800 financial advisers through the Halifax, Bank of Scotland and The Mortgage Business brands.

  • Halifax launches website to help first-time buyers

    27 Apr 2006

    Halifax has launched buyingyourfirsthome.co.uk, a new website which gives first time buyers a helping hand getting onto the housing ladder.

  • HIP rules open the door to confusion

    24 Apr 2006

    They might not be scheduled to come into force until June 1 2007 but Mortgage Strategy can tell you that 2006 is going to be the year of the Home Information Pack. Only last week we told you sellers of properties with sitting tenants will not need to provide HIPs as they are classed as commercial properties.

  • HIPs may impact business levels, says IMLA

    25 Apr 2006

    The latest broker research from the Intermediary Mortgage Lenders Association, which represents the interests of lenders that generate mortgage business via the intermediary market, indicates that intermediaries business volumes may be adversely by the introduction of Home Information Packs.

  • HML wins top industry award

    27 Apr 2006

    HML has won Financial Services Technology magazines top award for Best Business Continuity Plan Implementation of the Year.

  • Home reversion and islamic mortgage get consumer protections

    27 Apr 2006

    The Financial Services Authority today set out its plans for the future regulation of home reversion plans and home purchase plans also known as Islamic mortgages.

  • Hope for affordable home credit for Britains two million poorest

    27 Apr 2006

    The provisional findings from the Competition Commissions16-month inquiry into the UKs 2bn home credit (doorstep lending) industry were released today.

  • House prices have risen by 0.6% in April, says Hometrack

    28 Apr 2006

    Hometrack latest survey reveals that this is the highest monthly rise for almost two years driven by values rising across 36% of the country, primarily in London and the South East.

  • How much do you know about Home Information Packs?

    24 Apr 2006

    Although the mortgage industry has been living and breathing Home Information Packs for the past few months, little has been done to educate the public about them.

  • If OFT bites, borrowers will get hurt

    24 Apr 2006

    If the OFT's assault on credit card penalty charges widens to include mortgage redemption charges it will be borrowers rather than lenders who pay the price, says Sally Laker

  • IFS and Just Retirement offer new equity release exam

    28 Apr 2006

    The Institute of Financial Services has teamed up with equity release specialists, Just Retirement, to offer a training and exam package for up to 1,000 financial advisers.

  • IMF says UK housing market is overvalued

    24 Apr 2006

    The International Monetary Fund is warning that an explosion in property prices threatens the global economy, saying that 40% of house price booms end in busts.

  • Industry is in for a shock on HIPs

    24 Apr 2006

    A startling 100% of Mortgage Strategy Online users who took part in a recent Home Information Pack survey feel the industry is not doing enough to prepare for the launch of HIPs.The Mortgage Strategy Online HIP survey shows the industry is in for a shock, come June 2007.Some 2,323 online users res-ponded to 10 questions on the HIP proposals, including whether the government should change HIPs and whether the launch of the packs would be delayed.Some 88% of ...

  • Industry responsibility to ensure fair deal for consumer

    26 Apr 2006

    Following the announcement by Des Browne, chief secretary to the Treasury, that money from the Financial Inclusion Fund would be made available to support a new Financial Inclusion Taskforce campaign, I began to ask a number of questions.

  • Insurance aggregator websites slammed

    27 Apr 2006

    Aggregator websites have been slammed by specialist insurance website www.protection-insurance.com for providing inaccurate insurance quotes.

  • Interest-only warning

    24 Apr 2006

    moneysupermarket.com is warning borrowers who rely on interest-only mortgages that it could cost them up to 12,000. The price comparison website says with house prices up 41% in the past four years, it's not surprising interest-only mortgages are popular.

  • Ireland: Growing strong

    24 Apr 2006

    Three overall World Cup qualifications, one World Cup quarter final in 1990 when Ireland narrowly lost to the Italian hosts, 13 finals games where Ireland has won two, drawn in eight and lost three.

  • Japan looks at Burns-Anderson's example

    27 Apr 2006

    Nomura Research Institute has approached Burns-Anderson, the UKs fifth largest IFA network, in its quest to understand the UKs financial services regulatory regime.

  • Kensington Mortgages wins Queen's Award for Enterprise

    24 Apr 2006

    Kensington Mortgages, a UK specialist mortgage provider, has won the prestigious Queens Award for Enterprise in the Innovation category for 2006.

  • KRS survey reveals 22% upsurge in equity release business in Q1 2006

    24 Apr 2006

    Key Retirement Solution's latest Equity Release Monitor for Q1 2006 has revealed a 22% rise in business over the same period in 2005, from 5,795 to 7,087.

  • L&E extends National Australia Bank contract

    24 Apr 2006

    London & European, provider of services and solutions designed to enhance the speed, simplicity and security of property transactions, has extended its contract with National Australia Bank UK.

  • Labour may tax second home owners

    24 Apr 2006

    The government could be planning a tax on second home owners as part of its review of local government financing. There is concern about the lack of affordable housing and rising house prices, especially in rural areas. To combat this, the Commission for Rural Communities has called for Council Tax on second homes to be treated as a "separate taxation resource" to help fund low cost homes.

  • Lambeth mails out Portman merger booklet

    24 Apr 2006

    The Lambeth is mailing eligible members of the society copies of its merger booklet in relation to its proposed merger with the Portman, which was announced on March 6.

  • Land tax will stifle housing supply, says RICS and BPF

    25 Apr 2006

    Much needed affordable homes will be jeopardised by a new government proposal to tax property development, says the Royal Institution of Chartered Surveyors and British Property Federation.

  • Launch DB Countdown

    24 Apr 2006

    After the Easter break the tempo builds towards the launch of a pilot scheme on Thursday which produces such positive feedback that it melts Mike Tottle's phone, says Bill Dudgeon

  • Law group says FSA method causes uncertainty

    24 Apr 2006

    The City of London Law Society has written to the Financial Services Authority regarding its concern that principles-based regulation lacks clarity.The letter, penned by the chairman of the society's regulatory committee, Margaret Chamberlain, was sent to FSA chief executive officer John Tiner on April 12. It warns that reliance on principles is leaving firms uncertain how to comply, especially with regard to Treating Customers Fairly.Chamberlain writes: "Although senior managers ...

  • Leadgeneration

    24 Apr 2006

    Mortgage Strategy's monthly guide to the lead generation companies brokers could be doing business with. Justine Tomlinson looks at the options available to intermediaries

  • Let's act together to stamp out fraud

    24 Apr 2006

    Isn't it depressing that despite the proliferation of legislation that has altered our mortgage landscape in recent years we still seem unable to adequately address the issue of mortgage fraud?

  • Let's do business

    24 Apr 2006

    The sooner intermediaries use the services of specialist commercial brokers, the sooner they will cash in on a thriving market, says John Ford

  • Lloyds TSB Scotland appoints non-executive director

    27 Apr 2006

    The board has appointed Andy Cumming as non-executive director of Lloyds TSB Scotland.

  • Lloyd-Webber's 35m deal smashes mortgage record

    24 Apr 2006

    Andrew Lloyd-Webber has taken out a record mortgage of 35m to help buy seven West End theatres in London.Fans of Lloyd-Webber will delight in the news that his monthly payments are estimated to be around 150,000 -meaning that his musical hits which include Phantom of the Opera and Whistle Down the Wind will not be leaving the West End any time soon.Lloyd-Webber's mortgage is reported to be secured against his 5,000 acre Hampshire estate, Sydmonton Court, and his ...

  • Make friends with a portfolio landlord

    24 Apr 2006

    Following my earlier article on landlord types, this week I take a look at the benefits of having portfolio landlords as clients.

  • Market Harborough appoints new director

    24 Apr 2006

    Market Harborough has appointed Kerry Spooner as a non-executive director.

  • Market watch

    24 Apr 2006

    Swaps continued to rise last week and soon they will go above the 5% mark. Most lenders' fixed rate offerings are well below this and it will be interesting to see how long that situation continues.

  • Marketing Brief

    24 Apr 2006

    Support is critical in the mortgage industry. Kevin Paterson's A-Z review rates the marketing material that lenders issue to help brokers with sales and business development

  • Me and my car

    24 Apr 2006

    It's awesome, beautiful and powerful and if I had to choose between my BMW M5 and one of my top salespeople, that salesperson would be on their way, says John Prust

  • MI members get link with SPML

    24 Apr 2006

    All members of Mortgage Intelligence can submit cases directly to Southern Pacific Mortgages Limited. They will now have the choice of submitting cases via the Mortgage Intelligence packaging desk or directly to the lender.

  • Mole

    24 Apr 2006

    Fishy TreatAll smells at Hamptons' City HQ last week after MD Kevin Duffy received a package of jellied eels from those kind folk at rival London firm Cobalt Capital.It seems Duffy's pointed remarks about the loss of key staff to Cobalt ("Each consultant can generate up to 130,000 a year in commission and would be successful whether they were selling mortgages, jellied eels or Ford Escorts") rubbed somebody up the wrong way."I was delighted to receive them," Duffy confessed ...

  • Money Partners' appointment

    24 Apr 2006

    Money Partners has appointed Steven Fitzhugh to lead the specialist lender's product development.The lender says this appointment brings specialist expertise to a crucial business area.

  • Moneynet warns lenders on pitfalls of loans with PPI

    27 Apr 2006

    Borrowers are currently enjoying some of the lowest-ever personal loan and credit card rates in the UK, as fierce competition in the sector sees lenders slashing rates.

  • Moneyquest to create 100 jobs

    24 Apr 2006

    Moneyquest will create 100 jobs with the relocation of its headquarters to Glasgow's prime office building. The company is to move to 123 St Vincent Street. The relocation, which will take place at the end of May, will see the firm expand its staff to 240.

  • More families priced out of rural areas, says JRF

    26 Apr 2006

    Government needs to address the acute housing problems facing growing numbers of families priced out of booming rural property markets, according to a new report published by the Joseph Rowntree Foundation.

  • Mortgage lending rose by 5.4bn in March

    24 Apr 2006

    Latest figures from the Major British Banking Groups, for March 2006 show that the total sterling lending to the UK private sector showed a net underlying increase of 23.0bn, +2.0% to 1,191bn.

  • Mortgage Times Group launches prime self-cert deals with TMB

    24 Apr 2006

    The Mortgage Times Group is launching two new prime self-cert exclusive products with free valuations in conjunction with The Mortgage Business. Both products have a pay rate of 4.79% fixed until June 30 2008 and 2009, both with a maximum LTV of 85%. The free valuation service is subject to a maximum loan size of 500,000 and maximum property value of 800,000, from 800,000 to 1.5m is 499. Chris May, director at The Mortgage Times Group, says: The momentum is certainly ...

  • Mortgages to feature in Russian Economic Forum

    24 Apr 2006

    For the first time mortgage lending will be coming under the spotlight at a Russian Economic Forum which takes place from April 23 to 26.

  • MPC vote was seven to one

    24 Apr 2006

    Minutes from the Bank of England's Monetary Policy Committee meeting earlier this month show members voted seven to one to keep the cost of borrowing at 4.5%.

  • N&P denies undercutting broker on client's cover

    24 Apr 2006

    Norwich and Peterborough has denied trying to undercut a broker by offering their client buildings and contents insurance despite this already being arranged.

  • Nationwide's Tuan Le fails to impress Sir Alan

    24 Apr 2006

    Tuan Le, an area sales manager at Nationwide, was fired from the BBC's The Apprentice TV show last week.Le, aged 27, had worked as a financial consultant for Nationwide before joining the show but since being booted off he has been taken back by the society and promoted to the role of financial planner.Self-made millionaire Sir Alan Sugar sacked Le after he and his group failed in their task to work as estate agents letting out properties. But despite Le's fin-ancial ...

  • Network Data offers sub-prime exclusive

    24 Apr 2006

    Network Data is offering free valuations on all sub-prime applications up to a property value of 500,000 exclusively across Platform's sub-prime range.It is also offering a 0.10% reduction on sub-prime two and three-year fixed rates.Stewart Rennie, product development manager at Network Data, says: "We are conducting research with our appointed representatives and directly authorised brokers to develop innovative products."Paul Hunt, head of marketing at Platform, adds: ...

  • No top-slicing attracts new brokers to GHL

    28 Apr 2006

    Guaranteed and Genesis Home Loans have experienced an immediate upturn in the number of new directly authorised brokers using their direct submission facility as a result of their recent no top-slicing enhancement.

  • Number of property millionaires rose 14% in past year

    24 Apr 2006

    The number of property millionaires has risen by nearly 14% in the past 12 months and now stands at almost 60,000, says Portman.This 12-month rise adds to the enormous increase seen over the past decade during which the number of property millionaires rose more than 12 times, from 4,677 in 1995 to 59,827 in 2005.The figures, based on the latest Land Registry sales data and figures from the Office of the Deputy Prime Minister, also reveal a large regional disparity in the distribution ...

  • Oakwood appoints Richard Klemmer as President

    26 Apr 2006

    The Oakwood Group has appointed Richard Klemmer as president.

  • Online GI studies

    24 Apr 2006

    Buying activity was particularly strong around London reflecting high City bonuses, and this is probably a factor behind the strength of lending."

  • Online insurance sales system

    24 Apr 2006

    CETA has launched a web-based insurance quotation and sales system to intermediaries and advisers. The portal is available free of charge and gives brokers access to an extensive range of insurance products and financial services.

  • Online strength

    24 Apr 2006

    Guaranteed and Genesis Home Loans have strengthened their online decision In principle service by employing two extra staff on the placements team.

  • Overseas property is a hot sector

    24 Apr 2006

    Intermediaries should identify and help the growing number of their clients who are likely to be thinking about buying properties in far-flung destinations, says Richard Coulson

  • Packager appoints new director of sales and operations

    26 Apr 2006

    Mortgage-1, Broker Support Services and SimplyBiz Mortgages has appointed Alan Waddington to the new role of director of sales and operations. Waddington has been with the company for over two years, heading up the development and sales support teams and previously was national development manager for The Royal Bank of Scotlands intermediary mortgage services.

  • Packagers unite to launch Spectrum Lending

    28 Apr 2006

    Solent Mortgage Services, The Finance Centre and em-financial have clubbed together to launch Spectrum Lending.

  • Parents increasingly pooling resources with children

    25 Apr 2006

    A growing number of parents are pooling resources to jointly purchase new homes with their first-time buyer children either as an investment or a gift, says Linden Homes.

  • Paying the price

    24 Apr 2006

    Although house price inflation has slowed, prices in England are still rising so affordability remains a challenge in one of the world's most innovative mortgage markets, says Harvey Jones

  • Paymentcare.co.uk kick starts MPPI FREE-4-ALL

    24 Apr 2006

    Paymentcare.co.uk, the online payment protection insurance provider says its latest MPPI product offers homeowners the best value.

  • Paymentcare.co.uk offers four months free MPPI cover

    24 Apr 2006

    Paymentcare.co.uk is offering four months free cover and reduced rates on its latest mortgage payment protection insurance product. The Free-4-all offers both new and existing borrowers four months free cover at 3.95 for full ASU on a back to day one basis.

  • Pensioners property equity 54bn higher than last year, research reveals

    24 Apr 2006

    Pensioners property equity is 54bn higher than last year , research reveals

  • Perils of a renewed property boom

    24 Apr 2006

    High levels of activity in the mortgage market in the early part of this year could signal a renewed property boom that may prove fragile or even unsustainable, says Frank Eve

  • Pink offers online DIP facility

    25 Apr 2006

    Pink Home Loans is now offering its appointed representatives an online decision in principle facility.

  • PISCES publishes HIP Standard

    27 Apr 2006

    PISCES, the providers of a common computer language for the property industry, has published its Home Information Pack Standard, for the quick completion of HIPs.

  • PMPA announces two new products

    25 Apr 2006

    The Professional Mortgage Packagers Alliance has announced two new semi exclusive products from The Mortgage Business, both of which have no higher lending charge.

  • PMPA launches stepped discount product

    26 Apr 2006

    The Professional Mortgage Packagers Alliance has launched a three year stepped discount product from Unity Homeloans available exclusively through PMPA packager members.

  • PMPA offers two products from TMB

    24 Apr 2006

    The Professional Mortgage Packagers Alliance is offering two semi exclusive products from The Mortgage Business, both of which have no higher lending charge.

  • Portfolio boom for GMAC-RFC

    24 Apr 2006

    GMAC-RFChas completed 10 portfolio sales in 2006 so far, to a value of £2.1bn. This represents 67% of last year's total portfolio sales, putting GMAC-RFC on track for a year of record sales.

  • Portman changes product range

    28 Apr 2006

    Portman is repricing its mortgage range following significant increases in swap rates.

  • Portman resolves proc fee confusion

    24 Apr 2006

    Portman has moved to resolve the confusion over proc fee rates on its two-year tracker at 4.29%, which was launched on April 12.

  • Potential first-time buyers unaware of financial reality of homebuying

    26 Apr 2006

    Seven in ten, 71%, of potential first-time buyers say they are either completely unaware of the other financial products that need to be considered to accompany a mortgage or would at least need advice.

  • Praise for AMI on third birthday

    24 Apr 2006

    The Association of Mortgage Intermediaries has been praised for the support it offers mortgage brokers as it enters its third year.

  • Profit is blocking progress on PPI reform

    24 Apr 2006

    Unemployment, arrears and repossessions are all on the march and it's time we made sure people have in place the kind of payment protection insurance they can rely on.The worst of what is being offered by the PPI industry was put on show by The Money Programme recently, when it aired an episode entitled 'The Protection Racket Awards'. The programme highlighted cases of mis-selling, inflated pricing and shabby sales procedures.There seems to be little shock that such practices ...

  • Property market could slow

    24 Apr 2006

    The property market could slow down as people invest in larger properties over longer periods of time.

  • Rental yields fall in England

    24 Apr 2006

    Quarterly rental yield figures from Landlord Mortgages show yields in England have fallen from 6.15% in Q4 2005 to 5.91% in Q1 2006. This is England's second lowest performance since the index began and seems to check the rise in yields seen at the end of last year.

  • Retirement Plus appoints senior relationship manager

    26 Apr 2006

    Retirement Plus has appointed Chris MacMahon as senior relationship manager.

  • Rightmove joins AHIPP

    24 Apr 2006

    The Association of Home Information Pack Providers swelled its numbers this week with the sign-up of Rightmove.co.uk.

  • Rooftop refreshes product range

    24 Apr 2006

    Following its LIBOR rate change to 4.63%, Rooftop Mortgages is rolling out brand new fixed products, reducing its Right to Buy fixed rates, and relaunching its Right to Buy heavy adverse.

  • S&P launches whole loan evaluation direct credit assessment service

    25 Apr 2006

    Standard & Poor's ratings services has launched its whole loan evaluation direct credit assessment service, the first of its kind in the European market.

  • Scheme to help pensioners

    24 Apr 2006

    National Homebuyers has launched an initiative aimed at helping those worst affected by the pension crisis. The plan involves buying a property from those who need access to cash, then renting it back to them.

  • Scotland: Glasgow is growth capital

    24 Apr 2006

    While Scotland won't be participating in this year's World Cup, it has qualified for the finals on nine occasions, sadly experiencing first round exits each time. Scotland has played 23 games, won four, drawn seven and lost 12 - goals for 25 and goals against 41.

  • Scottish house prices rose by 0.8% in Q1

    28 Apr 2006

    The annual rate of house price inflation in Scotland is now 6.9%, above the UK average of 6.2%, with house prices rising by 0.8% in Q1 2006. Over the past five years house prices in Scotland have risen by 85%.

  • Second homes on the up, says Savills

    25 Apr 2006

    There are over a quarter of a million second homes in England a figure which grew by 3.3% between 2004 and 2005, according to Savills Residential Research.

  • Show line-up shows way ahead

    24 Apr 2006

    The line-up for the Manchester Business Expo is interesting as it shows how the industry is evolving and also the marketing strategies being employed, says Payam Azadi

  • Specialist lenders lead the field in innovation

    24 Apr 2006

    Over the past decade specialist lenders have led innovation not only in product design but also in terms of distribution and operational aspects.

  • Spicerhaart poised to expand

    24 Apr 2006

    Spicerhaart has repaid its financial backer Winterthur three years ahead of schedule. It is now poised for a major expansion involving the creation of 500 jobs. Spicerhaart chief executive Paul Smith says: "We are grateful to Winterthur and parent company Credit Suisse for the support they have given us."

  • Spring Move links sales failures to gazumping

    24 Apr 2006

    Spring Move says more than 2.2 million people in England and Wales saw house sales fall through in the past five years, and up to 150,000 failed sales per year could involve gazumping.Spring Move chairman Stephen Foden says: "We face a huge problem. There aren't enough properties and this is fuelling gazumping.It is made worse by the amount of paperwork involved when buying or selling properties. Hopefully, Home Information Packs will speed up the process."Jonathan Burridge, ...

  • Standard life celebrates anniversary of equity mutual funds

    28 Apr 2006

    Standard Life Investments will celebrate the 20th anniversary of two of its most popular UK equity mutual funds - the 276.6m UK equity high income and the 208.3m UK equity growth funds as at April 24 2006.

  • Studios shrink and large pads expand, says DTZ

    28 Apr 2006

    Central London studio flats are shrinking in size, while two and three-bedroom apartments in the capital are expanding latest research from DTZ Residential reveals.

  • Support for Skipton at AGM

    27 Apr 2006

    Skipton has again illustrated the mutual's strong links with its members, as 19% voted in its Annual General Meeting.

  • Swift adds online tracking

    24 Apr 2006

    Brentwood-based niche lender Swift has built case tracking into its website. The system allows brokers to check which items are outstanding on their cases and see who is responsible for supplying them.

  • Swift makes flying start to 2006 with 73% growth in business

    28 Apr 2006

    Swift Group has announced that gross new lending for the first quarter of 2006 is running an astonishing 73% higher than for the corresponding period in 2005.

  • Tebbutt fine is sign of things to come, industry warned

    24 Apr 2006

    Industry experts are warning that the Financial Services Authority will continue to come down hard on individuals following its fine on Paul Tebbutt, chief executive of Millfield Partnership.The FSA fined Tebbutt 35,000 on April 12 for providing misleading information in connection with an application by MPL to merge with another financial adviser group, Inter Alliance.His fine came a day after Margaret Cole, director of enforcement at the FSA, gave a speech in which she stated ...

  • The ice cream business is regulated by the FSA

    24 Apr 2006

    From Andy Valvona Congratulations to Mortgage Strategy for the excellent cover story on estate agency licensing in the April 10 issue. It gave readers a balanced and well informed overview of the issues surrounding the potential licensing and regulation of estate agency. The article also illustrated the insular nature of the industry that the majority of Mortgage Strategy readers work in - mortgage and non-investment insurance. In his piece, Rob Proctor of the Kent Reliance ...

  • Time constraints hold advisers back, says IFS

    24 Apr 2006

    Many advisers are loosing out on gaining specialist qualifications because they are deterred by the prospect of long hours of study, says the Institute of Financial Services.

  • Title deed

    24 Apr 2006

    Savills Private Finance came into being in 1997 when Mark Harris, Mike Boles, Stuart Robinson and Alex King joined Savills to set up a mortgage brokerage.

  • TMB appoints regional sales manager

    27 Apr 2006

    The Mortgage Business has appointed a regional sales manager to cover the Midlands, North, Scotland, North Wales and Northern Ireland.

  • TMB supports new charity for 2006

    25 Apr 2006

    The Mortgage Business is pleased to announce Chester Aid to the Homeless as its chosen charity for 2006.

  • TMP adds HHL to lender panels

    27 Apr 2006

    The Mortgage Partnership has added High Street Home Loans to its packaged lender panel.

  • Together clients are not at higher risk of negative equity

    24 Apr 2006

    From Tom Gardiner I'd like to take this opportunity to comment on some recent articles. First, Isabelle Kassam's comments (Mortgage Strategy April 10) on Northern Rock's Together mortgage are fairly accurate but as she points out, only 90% to 95% of the loan is secured on the property so borrowers are at no more risk of negative equity than any other high LTV borrowers. Thank God for lenders such as NR as I for one find it difficult to get first-time buyers onto the ladder. Second, ...

  • Total mortgage borrowing to exceed 1 trillion

    27 Apr 2006

    The CML says despite growing rapidly in recent years, borrowing has been dwarfed by the amount of unmortgaged property wealth held by UK home-owners, which currently stands at 3.6 trillion.

  • Towns most prone to CCJs

    24 Apr 2006

    Households in certain towns in Yorkshire and the Midlands are more likely to have County Court judgements registered against them than anywhere else in England or Wales, according to MyCallcredit.

  • Trade bodies discuss PPI with FSA

    24 Apr 2006

    Financial services trade associations including the Association of Mortgage Intermediaries, the Council of Mortgage Lenders and the Building Societies Association have met the Financial Services Authority to discuss the future of the payment protection insurance market.One insider present at the meeting tells Mortgage Strategy that all the associations feel the best way forward is to work together to implement proposed changes to the market.The FSA says the discussions ...

  • Tudor gets a hole in one

    28 Apr 2006

    Tudor Mortgage & Finance is giving away four tickets for the final days play at the British Open Championship at Royal Liverpool Hoylake on Sunday July 26.

  • UCB home loans removes 75 reservation fee from products

    25 Apr 2006

    UCB Home Loans, is removing the 75 up-front reservation fee from all its core range self-cert and buy-to-let products with effect from Thursday, April 27.

  • UK acquisition for Canadian firm

    24 Apr 2006

    Canadian firm MacDonald, Dettwiler and Associates has completed the acquisition of PropertyFlow, a UK online conveyancing provider.

  • UK's first impaired life equity release plan launched

    26 Apr 2006

    Partnership Home Loans has launched the UKs first fully medically underwritten impaired life equity release plan.

  • Underwriting methods continue to grow, says CML

    28 Apr 2006

    There has been a rapid rise in new methods of underwriting mortgages in the past few years, according to a new research report published today by the Council of Mortgage Lenders.

  • Unity launches two impaired ranges

    24 Apr 2006

    Unity Home Loans is launching two impaired credit ranges at the end of April.

  • Unknown implications of sub-prime

    24 Apr 2006

    The long-term effects of sub-prime lending will only become clear when there is an in-depth study of how borrowers fare in the credit repair cycle, says Mehrdad Yousefi

  • Validus publishes no-nonsense guide to international property

    26 Apr 2006

    International property investment agent Validus has issued a free 22-page booklet designed to present a concise, no-nonsense guide to investing in overseas property and managing an overseas property portfolio.The Honest Approach to Property Investment explores the concepts of investing in property, emphasising that it is very different to investing in other assets such as stocks and bonds and is affected by global economic trends.Louis Mann, director of Validus, says: It ...

  • Wales: Good prospects

    24 Apr 2006

    Wales' performance in World Cups has not been great, having only qualified once - in 1958 - when it lost narrowly in the quarter finals against eventual winners Brazil.

  • Web beats banks as first port of call for advice-seekers

    28 Apr 2006

    The internet is the first port of call for potential IFA clients planning totake financial advice, according to an Ipsos MORI survey for IFA Promotion.

  • Web service offers to sell properties without HIPs

    24 Apr 2006

    Mortgage Strategy has uncovered a service offering consumers the chance to sell their properties without Home Information Packs, as the legislation means some homes will be exempt.Properties with sitting tenants will not need packs and nor will private sale transactions where properties are not offered on the open market, for example, being sold to a family member, neighbour or friend. Right to Buy sales by local authorities or social landlords will also be exempt. Questions ...

  • West Brom raises 20,000 for British Heart Foundation

    26 Apr 2006

    As the cricket season springs into life, the West Bromwich has already raised 20,000 over the past year for the British Heart Foundation, the nations heart charity.

  • West Bromwich unveils B2L deal

    24 Apr 2006

    West Bromwich has launched a buy-to-let mortgage with a pay rate of 4.75% for two years from completion.

  • When a guarantee is not a guarantee

    24 Apr 2006

    A promise is a promise, and a promise must be kept. Well that's the theory but it doesn't always apply if you can find a clever barrister to run his eye over the terms and conditions attached to your promise.

  • Young couples should take precautions

    24 Apr 2006

    The research from Alliance & Leicester Mortgages that shows bricks and mortar could soon replace a band of gold as a symbol of marriage is scary. A&L says one in four single first-time buyers put off buying a home until they've met their ideal partner. They think taking the plunge and buying a buying a property together is a sign of love and commitment.

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