Mortgage Strategy
25 May 2009

  • 60 Seconds with....Clive Kornitzer

    26 May 2009

    Is it true that 65% of cases submitted to Abbey are shoddily packaged?

  • Abbey should look to itself before blaming brokers

    26 May 2009

    I write in response to the comments by Clive Kornitzer, chief operating officer of Abbey for Intermediaries, in last week's issue.

  • Accord cuts fixed rates in semi-exclusive range

    26 May 2009

    Accord Mortgages is reducing the majority of fixed rates in its semi-exclusive range.

  • Advisers ignoring home reversions

    26 May 2009

    The Financial Services Authority requires that when considering whether a lifetime mortgage is suitable for a client, advisers must look at the alternatives available.

  • Alison Beech now at Spicerhaart

    26 May 2009

    Alison Beech, former business development director at Rooftop Mortgages, has been appointed business relationship director at Spicerhaart Financial Services.

  • Alliance & Leicester hikes LTVs on some products

    26 May 2009

    Alliance & Leicester has raised the LTV on its 60% LTV tracker deals and 65% LTV fixed rate products to 70%.

  • AMI launches mortgage market consultation

    26 May 2009

    Following the Financial Services Authority’s Mortgage Sector Conference last week, the Association of Mortgage Intermediaries has launched a consultation paper on the future of mortgage regulation.

  • AMI tells brokers it is fighting their corner

    26 May 2009

    The Association of Mortgage Intermediaries has defended its decision not to publicly retaliate against the latest bout of broker bashing, after calls for it to fight back.

  • Annual inflation rate drops to 2.3%

    26 May 2009

    The annual rate of inflation slowed in April, falling to 2.3% from 2.9% in March.

  • Asking prices up 2.4% as sellers try to boost equity in their homes

    26 May 2009

    Sellers pushed asking prices up 2.4% in May as they looked to boost equity in their property.

  • Assurant appoints Gavin Patman as BDM

    26 May 2009

    Assurant Intermediary has appointed Gavin Patman as BDM.

  • Assurant Intermediary teams up with Stonebridge

    26 May 2009

    Assurant Intermediary has partnered with the Stonebridge Group to provide general insurance products to the brokerage’s clients.

  • Banks risk outrage on PPI challenge

    26 May 2009

    I was surprised that some high street banks chose to reopen old wounds by launching legal action against the Competition Commission's decision to ban point-of-sale payment protection insurance.

  • Base Commercial to restart lending

    26 May 2009

    Base Commercial Mortgages is to re-enter the market via a limited panel of commercial finance brokers.

  • BBC investigation alleges lending irregularities at HBOS

    26 May 2009

    An investigation by BBC Radio 4 has pointed to alleged lending irregularities at HBOS by its ‘high-risk’ loans unit.

  • Beware danger of hidden HIP fees

    26 May 2009

    If the MPs expenses debacle has proven anything, it's that transparency matters. The revelations that our elected representatives have been pilfering from the public purse enraged voters not only because of the size and audacity of the claims, but also because the system had been kept under wraps.

  • BM Solutions upgrades One Minute Mortgage

    26 May 2009

    BM Solutions has revamped its One Minute Mortgage application to include new features and personalised tools.

  • Boost for claims firms as judge decides not to put a stay on cases

    26 May 2009

    Claims management firms breathed a sigh of relief last week after an influential Cheshire judge decided against a stay on all cases.

  • Brits cash in on overseas homes

    26 May 2009

    Brits are releasing equity from their homes in Spain and France to pay off their UK debts, says overseas specialist Viva Costa International Mortgages.

  • Brokers hit out against shared ownership slur

    26 May 2009

    Brokers are outraged over claims that they are standing in the way of shared ownership schemes being a success.

  • Brokers not a hindrance

    26 May 2009

    It seems everyone likes a bit of broker bashing at the moment. First it was the Council of Mortgage Lenders, then it was the turn of the Financial Services Authority. The Intermediary Mortgage Lenders Association then had a pop at directly authorised brokers and now the National Housing Federation is having a go.

  • Brokers urged to consider secured loans business

    26 May 2009

    Brokers are being urged to dip their toes into the secured loan market and take advantage of the changes the sector has undergone.

  • Brokers urged to shift focus to purchases

    28 May 2009

    Conveyancing Alliance is urging brokers to focus their efforts on the purchase side of the market as remortgage business continues to fall away.

  • Buy-to-let will spur market recovery

    26 May 2009

    In previous downturns, everyone thought first-time buyers held the key to unlocking property values.

  • Change needed to regain confidence

    26 May 2009

    To help your clients make sense of critical illness cover, there are two areas of the sale process that should be addressed.

  • Confidence in RDR proposals alarmingly low

    26 May 2009

    As the Financial Services Authority looks to transfer the Retail Distribution Review to the mortgage market, international law firm Pinsent Masons has found a worryingly low level of confidence in the review.

  • Cornish identifies right issue, but gives the wrong solution

    26 May 2009

    I was interested to read the comments made about lenders pricing for risk in last week's issue by the Yorkshire chief executive Iain Cornish.

  • Cost of fixed rate deals goes up

    26 May 2009

    The cost of the average fixed rate deal has risen in the last month, with borrowers wanting long-term deals seeing rate rises of up to 0.20%.

  • Do your homework on debt advice firms

    26 May 2009

    Cynics believe the only reason for the fast spread of debt advice among brokers is because of the desperation to replace income lost because of the collapse of the lending market.

  • eGateway teams up with RPS Capital Partners

    28 May 2009

    eGateway has teamed up with RPS Capital Partners to offer its Home Rescue and Buy-back product through the eGateway membership.

  • Equity release clients find products online

    26 May 2009

    Research from Equity Release Solicitors' Alliance has found that 35% of equity release customers shopped for their product online.

  • Ex-Money Partners colleagues to launch debt network for brokers

    26 May 2009

    Colin Sanders, former chief executive of Money Partners, has teamed up with three former colleagues to launch the Debt Supervision Network.

  • Flower power

    26 May 2009

    No-one can accuse the Chelsea Flower Show of not keeping up with the times.

  • FSA is culpable but question of who regulates it remains

    26 May 2009

    I am a bit confused. If the Financial Services Authority regulates and authorises the individuals who work in financial services, where is its intervention with regard to networks stealing their customers' monies?

  • FSA reveals stress test model

    28 May 2009

    The Financial Services Authority has revealed it is stress testing banks’ capital against the impact of a 50% peak-to-trough fall in house prices.

  • FSA reveals stress test model

    29 May 2009

    The Financial Services Authority has revealed it is stress testing banks’ capital against the impact of a 50% peak-to-trough fall in house prices.

  • FTB moves stir market in Q1

    26 May 2009

    The first-time buyer market started to show signs of life at the beginning of the year, the John Charcol index shows.

  • Gross mortgage lending down 60% year-on-year

    26 May 2009

    Gross mortgage lending fell to 10.4bn in April, a drop of 60% from the same time last year.

  • Headless Chickens

    28 May 2009

    It may have escaped some peoples notice, but three-month LIBOR, (the rate at which banks lend to each other that was so out of kilter during the main thrust of the credit crunch), is now back to around 0.7% above Bank of England base rate. This is the upper limit of “normality” we have seen in the past.

  • Helping pensioners reduce their tax bill

    26 May 2009

    Buried deep in this year's Budget was the increase in the savings and capital limit allowance for pensioners claiming pension credit.

  • HML appoints sales director

    27 May 2009

    HML has appointed Graham Mears-Young as director of sales.

  • HML boosts marketing team

    26 May 2009

    HML, a financial outsourcing provider has expanded and restructured its marketing team.

  • Home Buyer Systems to partner with broker services firms

    28 May 2009

    Home Buyer Systems is expanding its current system to include links to partner firms providing broker services such as conveyancing, valuations and credit checking.

  • House prices climb 1.2% in May

    29 May 2009

    House prices rose by 1.2% in May with the annual fall in house prices improving significantly, the latest figures from Nationwide reveal.

  • Infighting will only cause more harm

    26 May 2009

    In the next few columns I will be looking at the various associations attached to the equity release market and providing some background of their roles.

  • Intrinsic value

    26 May 2009

    When it comes to financial stability capital is the word on everybody's lips at the moment, and away from the big banks nowhere is this more true than for networks.

  • It's good to hear that brokers are trusted

    26 May 2009

    The last couple of weeks has seen the Daily Telegraph naming and shaming many MPs in relation to their expense claims, and it does look like a case of snouts in the trough on a monumental scale.

  • Leadbay will check borrowers' status

    26 May 2009

    Leadbay is to phone borrowers seeking advice to check they are in a position to proceed on their mortgage before passing their details to brokers.

  • LeadPoint launches conversion rate calculator

    28 May 2009

    LeadPoint has launched a conversion rate calculator which brokers can use to work out how many of the leads they have bought have converted into business.

  • Lenders may have to carry the can

    26 May 2009

    Stephen Knight, executive chairman of Checkmate Mortgages, says he expects lenders to be more responsible for brokers' actions in the future, which could lead to a bigger market share for larger brokers.

  • Let Brokers Unite

    29 May 2009

    As the dust settles from the FSA mortgage conference, and the sound-bytes and rhetoric end up in office bins, the hard work star

  • Link Lending loans on offer from eGateway

    26 May 2009

    Broker trading platform eGateway is now offering brokers access to Link Lending's bridging loans and secured second charges.

  • Loan Options highlights importance of packagers

    26 May 2009

    Andy Moody, managing director of secured loan packager Loan Options says brokers who use specialist packagers have a far higher successful completion rate for their loan applications than those that go direct.

  • Longer-term deals back in fashion, says Mortgageforce

    28 May 2009

    Borrowers are increasingly turning to longer-term fixed rate deals as two-year deals fall out of favour.

  • Lost for words

    26 May 2009

    Mole was tickled last week when Mortgage Strategy's superstar hackette Natalie Holt left the Financial Services Authority dumbfounded at the Building Societies Association's annual conference in Harrogate.

  • LTV changes will just worsen Abbey's processing times

    26 May 2009

    I was intrigued by the news last week that Abbey was increasing LTVs for fixed rates to 70% (Mortgage Strategy Online).

  • LV=encourages brokers to share protection tips

    28 May 2009

    To celebrate the first anniversary of its mortgage and lifestyle protection product, LV= is launching an initiative to encourage advisers to share their most successful strategies and tips for getting across to clients the benefits of protecting income against accident, sickness or unemployment.

  • MAB signs deal with Assurant for ASU cover

    26 May 2009

    Mortgage Advice Bureau has teamed up with Assurant Intermediary and will offer its accident, sickness and unemployment cover to its clients.

  • Marketwatch 26/05/2009

    26 May 2009

    Swaps had another varied week. Shorter term swap rates fell to levels lower than I have seen before although I don't think we have seen any lenders passing these on.

  • Mayor's housing claim is smoke and mirrors

    26 May 2009

    My uncle Stan used to say that nothing is ever as it seems and everything is done by smoke and mirrors, and so it seemed recently.

  • Metro reports the average female lives 204 years

    26 May 2009

    Today’s Metro has an article (p.4) about the number of births and deaths in England & Wales.

  • Mixed views on Lend a Hand deal

    26 May 2009

    Lloyds TSB's efforts to entice first-time buyers into the mortgage market with a 95% LTV deal has received a mixed reception from brokers.

  • Mortgage Brain offers commercial mortgage sourcing

    26 May 2009

    Mortgage Brain has launched the first commercial mortgage sourcing system in the UK through a partnership with Fiducia Commercial Solutions.

  • Mortgage Intelligence signs up to utilities deal

    26 May 2009

    Mortgage Intelligence has become an authorised distributor of the Utility Warehouse Discount Club.

  • Mortgageforce to use L&E system

    26 May 2009

    London & European has signed a deal with Mortgageforce to offer its web-based property transaction management service, Complete Conveyancing, to its national network.

  • Mortgages for Business joins Base Commercial panel

    29 May 2009

    Specialist buy-to-let and commercial broker and packager Mortgages for Business has been selected as one of the select brokers to work with Base Commercial on its return to the UK lending market.

  • MPs' innovation alive and flipping

    26 May 2009

    Mortgage innovation is alive and flipping in Westminster. When it came to innovation and housing finance I thought Lord Peter Mandelson was streets ahead of the competition with his Britannia Piggy Back Mortgage.

  • Mutuals slated for crunch inaction

    26 May 2009

    It was the turn of building societies to be condemned by the Financial Services Authority last week over how quickly they reacted to the economic downturn.

  • My take on the Santander rebrand

    29 May 2009

    The logic of Santander’s announcement to rebrand all its UK branches (Abbey, Alliance & Leicester and Bradford & Bingley) as Santander is obvious and when the integration has been completed will have clear benefits for those with a current and/or savings account with any of these brands as they will have access to a larger branch network.

  • Nationwide profits hit by FSCS levy

    27 May 2009

    Nationwide has reported its annual pre-tax profits fell 69% to £212m after the building society was hit by a £241m levy for the Financial Services Compensation Scheme.

  • Nationwide's profits take a dive after FSCS levy

    29 May 2009

    Nationwide has reported its annual pre-tax profits fell 69% to £212m after the building society was hit by a £241m levy for the Financial Services Compensation Scheme.

  • Net mortgage lending falls to eight-year low

    27 May 2009

    Net mortgage lending among the high street banks hit an eight-year low during April falling to £2.7bn from a previous six-month average of £3.4bn.

  • Network Data's ARs will be paid by Paymentshield

    26 May 2009

    As Network Data went into administration last week, its former appointed representatives were given some good news, with Paymentshield promising to pay all their renewal commissions.

  • Now you can keep up-to-date with LIBOR on Twitter

    26 May 2009

    Although all the political parties agree that we need to tighten our belts more, their intentions are likely to remain unclear until the next administration is formed following the general election.

  • Number of mortgage deals up 3% in April

    26 May 2009

    TrigoldCrystal's latest product index shows the number of live mortgage deals in April reached 2,858, up 3% from March.

  • oc

    26 May 2009

    Two-thirds of Mortgage Strategy Online readers believe that self-cert mortgages should not be scrapped.

  • OFT cracks down on cold calling by debt companies

    26 May 2009

    The Office of Fair Trading has warned six debt management businesses and four cold calling companies that they could face enforcement action if they continue to use unsolicited and misleading calls to advertise their services.

  • Paradigm to hold conference in Marbella

    29 May 2009

    Paradigm Partners, the compliance and business support provider, has revealed details of its inaugural conference for partner firms which will take place in September at the 5-star Hotel Don Carlos in Marbella.

  • Paragon profits fall by over 10m

    26 May 2009

    Paragon Group posted a pre-tax profit of 15.9m for the six months to March 31, down over 10m from 26.4m at the same time last year.

  • Pension funds to play part in commercial funding

    29 May 2009

    Specialist commercial property lender,Business Lending believes pension funds will provide the catalyst for renewed lending while taking a significant market share from UK and overseas banks.

  • Peter Beaumont revealed as Marketing Innovation Forum guru

    26 May 2009

    Marketing Innovation Forum, the free online marketing service for brokers, has unveiled Peter Beaumont as its sale-and-rent-back guru.

  • Property Spotlight: Radstock, Somerset

    26 May 2009

    The areaRadstock is a town in the county of Bath and North-East Somerset. It has a population of 5,275.

  • Quality is the key to survival for hard-hit brokers

    26 May 2009

    Last week I talked about the parallels between the 1930s depression and the current situation we are in. It was all about easy credit and a belief that wealth by speculation was everyone's right.

  • RDR plan prompts brokers to sign up for sales training

    26 May 2009

    The news that the Financial Services Authority is looking to implement the Retail Distribution Review in the mortgage market has prompted brokers to sign up for sales training courses, says Home Buyer Systems.

  • Risk assignment could free up cash

    26 May 2009

    Risk management and the availability of capital feature at the top of every board’s agenda.

  • Santander to keep Abbey for Intermediaries

    27 May 2009

    Santander has revealed that all UK Abbey, Bradford & Bingley and Alliance & Leicester branches will adopt the Santander brand and name from Q1 2010, but it will retain its specialised-market brands, including Abbey for Intermediaries.

  • Sesame looking to offer mortgage tranche system to more lenders

    26 May 2009

    Sesame has revealed it is in talks with several lenders about offering them an online mortgage tranche system for brokers, similar to the one the network launched with Woolwich last week.

  • Sir Alan points the way forward in difficult times

    26 May 2009

    While the science involved is not absolute, most industry professionals agree the key indicators used to predict future trends or even to measure past activity can be confusing.

  • Solent Mortgage Services offers equity release

    27 May 2009

    Solent Mortgage Services is offering brokers an equity release referral service through Equity Advice.co.uk.

  • Star Loans teams up with Link Lending

    26 May 2009

    Star Loans has teamed up with Link Lending to offer its secured loan and bridging range.

  • Star Loans to offer Link Lending products

    26 May 2009

    Star Loans has teamed up with Link Lending to offer its secured loan and bridging range.

  • Star struggles

    26 May 2009

    They may have the looks, the glamorous lifestyle and a legion of fans but even celebrities aren't exempt from the credit crunch.

  • Stop this broker bashing

    26 May 2009

    Broker bashing seems to be the favoured sport of lender trade bodies at the moment. First we had the Council of Mortgage Lenders having a go at brokers at the Financial Services Authority's conference and now it seems the Intermediary Mortgage Lenders Association has joined the game.

  • Swine of the times

    26 May 2009

    Mole has been glued to the news as the expenses scandal continues to unfurl. The latest surrounded speaker Michael Martin who, after a good few months of scandals including reports late last year that refurbishment of his official residence had cost taxpayers £1.7m, made a prat of himself and was forced to step down.

  • The last laugh’s on the lenders

    26 May 2009

    The Financial Services Authority is a joke but it’s no laughing matter – that was the view that gained currency around the bars of Harrogate last week as building society executives exchanged anecdotes and drowned their sorrows at the Building Societies Association's annual conference.

  • The truth is brokers are providing a great service

    26 May 2009

    As Professor Nigel Waite, director of the Financial Services Research Forum, was recently quoted as saying, "it may be an inconvenient truth, but the reality is that trust in the financial services industry is not at rock bottom".

  • There is a place for ethical rent-back

    26 May 2009

    It's great to be back in the broker market and Mortgage Strategy. Contrary to rumours, I have not been sunning myself on an exotic beach but have been hard at work developing a new business - Residential Property Solutions.

  • Time for election as UK rating set for fall

    26 May 2009

    It never rains but it pours. Britain is now facing the unsettling possibility of seeing its debt rating downgraded, after credit ratings firm Standard & Poor's revised the country's outlook to negative from stable.

  • TMA teams up with fastsurveyors.com

    26 May 2009

    The Mortgage Alliance has partnered with fastsurveyors.com to give directly authorised brokers access to a national network of private surveys and valuations.

  • Two-thirds of structured products to have FSCS protection

    26 May 2009

    Opal, one of the UK’s largest providers of structured product and administration services predicts that around two-thirds of all structured products offered in 2009 will include Financial Services Compensation Scheme protection – up from around 30% in 2008.

  • US housing starts down 54% on last year

    26 May 2009

    Housing starts in the US fell to the lowest level on record in April, 54.2% lower than the same time last year.

  • Vision hosts business forums for brokers

    26 May 2009

    Vision Network is hosting a series of forums to help brokers boost business.

  • Vital to know cost of winning clients

    26 May 2009

    John Wanamaker, the well-known US retailer, famously said nearly 100 years ago that "half the money I spend on advertising is wasted - the trouble is I don't know which half".

  • We must not lose sight of what is really important

    26 May 2009

    Over the last year or two my colleagues and I have noticed that the number of BDM visits we receive has fallen markedly.

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Should the Financial Conduct Authority be more intrusive than the Financial Services Authority?

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