Mortgage Strategy
26 February 2007

  • AMI members get on with TCF work

    26 Feb 2007

    The Association of Mortgage Intermediaries says nearly half of its members are at least at the implementation stage with their Treating Customers Fairly work as the March 31 deadline looms. The trade body polled members on their TCF progress, splitting the stages into awareness, strategy and planning, implementation and embedded.Some 19% of members said they were already at the embedded stage, while nearly 50% said they were implementing TCF.

  • Brokers should think commercial

    26 Feb 2007

    InterBay says brokers can expect to pocket the same proc fee for one commercial deal as they would for eight residential deals. Colin Bell, operations director at InterBay, says: "Residential brokers are well placed to work with commercial mortgage enquiries."

  • HIP confusion could mean delays

    26 Feb 2007

    Legal & General has warned that Home Information Packs without Home Condition Reports could lead to consumer confusion. Director of housing Stephen Smith says this could mean delays in the selling process.

  • Lloyds TSB lost ground in 2006

    26 Feb 2007

    There was bad news from Lloyds TSB last week as its annual results revealed it lost ground in new mortgage lending in 2006. Since 2005, Lloyds TSB, which owns brands Scottish Widows and Cheltenham & Gloucester, has lost 1% of the gross new mortgage lending market. It now controls 8% of the UK market although profits rose by £1.6bn to £27.6bn.

  • Select adds two to lender panel

    26 Feb 2007

    The Select Partnership has added Capital Home Loans and Advantage to its lender panel. Last week, the Council of Mortgage Lenders revealed that 330,000 buy-to-let mortgages were taken out in 2006 - a 48% increase over 2005. But some experts warn a booming buy-to-let market means a substantial proportion of the UK's housing stock is being pushed further out of the reach of first-time buyers.

  • "The Horse" rejoins BM Solutions

    2 Mar 2007

    Dave Horsman, former edeus head of national accounts, has officially rejoined BM Solutions.

  • 100% deals will see a price drop, says John Charcol

    26 Feb 2007

    John Charcol is predicting a drop in the price of 100% mortgages by the end of the year as competition hots up.

  • 66% of brokers think B2L should be regulated

    26 Feb 2007

    Two-thirds of Mortgage Strategy Online readers last week voted that the rise in popularity of the buy-to-let market was a sign it should be regulated. Just 34% thought that the sector should be left untouched.

  • A brand new approach to marketing

    26 Feb 2007

    Developing a strong company and personal brand is important in the mortgage market where product differentiation is hard to achieve, says Sally Laker

  • A missed opportunity for change

    26 Feb 2007

    The watering down of Home Information Pack requirements represents a lost opportunity to streamline the way houses are bought and sold, says Frank Eve

  • A&L group CEO to retire soon

    26 Feb 2007

    Alliance & Leicester group chief executive Richard Pym has indicated his retirement is imminent after he asked the board to start looking for his successor. The board has appointed a consultancy to identify candidates.

  • A&L to join high LTV battle

    26 Feb 2007

    The price war between Northern Rock and BM Solutions took a new turn last week after Alliance & Leicester announced the imminent launch of a rival product.

  • Abbey to sponsor AMI dinner

    26 Feb 2007

    The Association of Mortgage Intermediaries has revealed Abbey for Intermediaries will be the main sponsors of its annual dinner.

  • Accord to get into B2L by the end of the year

    26 Feb 2007

    Accord has revealed that it will be entering the buy-to-let market before the end of the year.

  • AFB publishes complaints process details

    26 Feb 2007

    The Association of Finance Brokers has produced a factsheet explaining what secured loan intermediaries need to do to comply with the new complaints handling rules. Under the Act, which will come into force as part of the Consumer Credit Act from April 6, the Financial Ombudsman Service will review consumer credit complaints, and CCA changes also mean that how a consumer credit licence holder handles complaints could affect its ability to obtain or renew its licence.

  • Alliance of Mortgage Packagers and Distributors: Lenders still need us - for now

    1 Mar 2007

    Even the lenders harbouring a desire to end or reduce their dependence on distributor groups are aware they cannot achieve big completion targets without the distribution power of the big packager alliances. But this does not mean they do not have other long-term plans

  • Allied Surveyors launches good customer service awards

    28 Feb 2007

    Allied Surveyors has launched an awards scheme to encourage good customer service across its UK offices.

  • Amount of Planned Investment in Information Technology Over Next 3 Months

    1 Mar 2007

    Edge system, the bar chart shows The Mortgage Business's research into the expected spend on technology by packagers. During managing director of TMB, Nigel Payne's presentation at the Summit I queried the horizontal scale of expenditure - did that start at £200 or £200,000.

  • Apollo tries to buy Countrywide

    26 Feb 2007

    US private equity firm Apollo has made an offer to buy Countrywide for 505p per share. The offer is conditional on support from Countrywide's rebel shareholders who turned down a similar offer from 3i earlier this year.

  • Approach retention deals with care

    26 Feb 2007

    Who could forget the scene in LA Story when Steve Martin walks off talking to himself and by the time he has finished, looks up and realises he is completely lost.

  • Association of Mortgage Intermediaries: Sound of two hands clapping

    1 Mar 2007

    The notion of principles-based regulation carries an inherent ambiguity where actions could be open to intepretation and dispute. But the merits of such an approach means the regulator will be able to spend more time weeding out the bad apples ruining the image of the sector

  • ATOM stands test

    1 Mar 2007

    From its tiny beginnings as a small IFA firm15 years ago, All Types of Mortgages, quickly outgrew its base in the children's playroom in the marital home of Vic Jannels and his wife Sheila. The couple now find themselves running a respected packager company employing 70 staff that many lenders choose to trial new mortgage products. Matthew West reports

  • Automatic choice

    26 Feb 2007

    Automated valuation models are the latest fix for mortgage speed freaks but they will never completely replace traditional surveys, says Harvey Jones

  • Average expected increase in business over the next 3 months (%)

    1 Mar 2007

    looking at increasing their portfolio. And house price inflation would have to sink to well below 4% to trigger any sort of concern about investment returns."

  • Ayliff quits Paymentshield

    28 Feb 2007

    Paymentshield has confirmed that lender relations manager Jane Ayliff has quit the firm for pastures new.

  • B&B returns to TV screens with new ads

    27 Feb 2007

    Bradford & Bingley is returning to television screens for the first time in five years with television commercials as part of a major relaunch campaign.

  • B&W launches bridging loans in Scotland and Northern Ireland

    2 Mar 2007

    Bristol & West Investments Plc has launched its residential and commercial bridging loan service in Scotland and Northern Ireland.

  • Bananas Inc offers sub-prime fixed rate at 8.35%

    26 Feb 2007

    Bananas Inc has launched a sub-prime two-year fixed rate deal that accepts borrowers with mortgage arrears.

  • BBA reveals 16.6bn gross mortgage lending in January

    27 Feb 2007

    Gross mortgage lending was 16.6bn in January, analysis from the British Bankers Association reveals.

  • BDM of the week

    26 Feb 2007

    A mixture of sunshine and substance, Mortgages PLC's Sarah-Jane Larner helps whenever she can and makes her lender an easy company to deal with, says Rob Roberts

  • Blemain Group appoints BDM

    28 Feb 2007

    David Mullins has joined the Blemain Group as business development manager for the North of England region.

  • BM in retention deals blitz

    26 Feb 2007

    BM Solutions will this week slash rates on its retention range for a limited period to encourage more brokers to get their clients to stick with BM Solutions rather than remortgage elsewhere.

  • BM Solutions confirms B2L cascading on its way

    26 Feb 2007

    BM Solutions has confirmed it is working on a technology solution that would enable it to offer buy-to-let cascading.

  • BoA names head of mortgages

    26 Feb 2007

    Bank of America has hired Richard Downer, who was instrumental in Bear Sterns' acquisition of Rooftop Mortgages, as head of mortgage principal finance based in its London office. BoA has also hired ex-Bear Sterns man Neil Warman as deputy head of mortgage principal finance.

  • Bright Finance launches business website

    26 Feb 2007

    Bright Finance has launched a business website for introducers. Bright Finance, established by Paul Hancock and Mark Cooke, now employs nearly 200 staff and processed more than 1bn in loan applications. The companys website, designed by Sheffield company Technophobia, is the first phase of its project for web-based services for introducers to Bright Finance.

  • Britannia joins EBS in Irish venture

    1 Mar 2007

    Britannia Building Society is in advance negotiations with Irish mutual EBS to set up a mortgage lending joint venture focusing on the Irish intermediary market.

  • Britannia reports 22% increase in mortgage lending

    27 Feb 2007

    Britannia has reported a 22% increase in mortgage lending to 8.4bn in 2006.

  • Brits plan for pension before purchasing property

    2 Mar 2007

    Pensions research released by AXA shows the average British person starts planning for their retirement before taking a first step on the property ladder.

  • Brokers can help their clients go green

    26 Feb 2007

    Going green is trendy. In just over three months, the government will introduce Energy Performance Certificates as part of Home Information Packs. EPCs will provide buyers and sellers with A to G ratings on their homes as well as a list of measures to cut fuel bills and carbon emissions.

  • Brokers must not miss the TCF boat

    26 Feb 2007

    By the end of this week, March will be upon us, meaning the Financial Services Authority's deadline for broker implementation of Treating Customers Fairly will be just a month away.

  • Brokers must sell MPPI with care

    26 Feb 2007

    The referral of the payment protection market to the Competition Commission means that any complacency brokers might feel about selling MPPI would be misplaced, says Bill Warren

  • Brokers reminded of TCF deadline

    1 Mar 2007

    The Association of Mortgage Intermediaries has issued a reminder to its members that the deadline for implementation of the Financial Services Authority's treating customers fairly principles is the end of this month.

  • Budget speech set for March 21

    26 Feb 2007

    The Treasury says chancellor Gordon Brown will deliver his Budget speech on March 21. It will be Brown's 11th Budget speech but his last if he takes over the reins as Prime Minister in the coming months.

  • Building bridges

    26 Feb 2007

    Bridging finance should be renamed as the traditional phrase does not adequately describe the increasing usefulness of this sort of funding, says Andy Moody

  • C&G's service on my case was nothing short of disgraceful

    26 Feb 2007

    The service industry in the US is far superior to that in the UK. In restaurants, waiters get your orders right. In banks, customer services staff cancel direct debits when you ask them to. People pretty much do as they're asked in all service-related jobs.

  • Call for higher IHT threshold

    26 Feb 2007

    Halifax has urged the government to increase the Inheritance Tax threshold to £460,000 to stay in line with house price inflation.

  • Cheshire reports 1.7% fall in mortgage assets

    28 Feb 2007

    The Cheshire has reported a 1.7% decrease in its mortgage assets in 2006.

  • Chipping away at debt mountain

    1 Mar 2007

    n 2006 the secured loans market found its place in a vast number of mortgage advisers' armouries when providing best advice to their clients. It is certain that this trend will escalate even further this year as the secured lending market becomes more and more mainstream.

  • CII applauds FSA competent employees rule

    2 Mar 2007

    The Chartered Insurance Institute has welcomed the Financial Services Authority's proposal that all authorised firms must abide by the competent employees rule as part of the revised training and competence rules that will come into force in November 2007.

  • CML says HIPs will not be ready for launch on June 1

    26 Feb 2007

    The Council of Mortgage Lenders has called for the rollout of Home Information Packs to be delayed because they have not been properly tested.

  • CML to host MPPI seminar

    26 Feb 2007

    The Council of Mortgage Lenders is to host a oneday seminar on mortgage payment protection insurance sponsored by Assurant Solutions.It will be on March 7 at the Mayfair Conference Centre in London.

  • Cobalt rules in the capital

    26 Feb 2007

    Cobalt Capital took the gong for best London broker. Andrew Montlake, partner at Cobalt Capital, says: "This is a wonderful achievement. We would like to thank everyone who took the time to vote for us, and to Mortgage Strategy for putting on a fantastic event."

  • Commercial First launches sales force

    1 Mar 2007

    Commercial First is offering a support service for brokers to assist them in selling its products.

  • Compass becomes Debt Adviser Group

    1 Mar 2007

    Debt solutions specialist Compass Finance Group has changed its name to The Debt Advisor Group.

  • Confidence in housing market is declining

    26 Feb 2007

    Buyer and seller confidence in the housing market has been declining over the past three months, says Propertyfinder.com.

  • Confusing lender websites let consumers down

    26 Feb 2007

    Lenders' websites have been accused of being confusing and putting consumers off applying for mortgages online.

  • Consumers could pay for loss of PPI

    26 Feb 2007

    Defaqto has warned that reduced payment protection insurance sales could lead to lenders hitting consumers with rate rises and charges on other financial products.

  • Court sentences woman for mortgage and benefit fraud

    2 Mar 2007

    A woman who falsifyed a mortgage application and dishonestly claimed more than £15,000 in benefits and has been prosecuted, after an investigation by Aylesbury Vale District Council.

  • Coventry lent £10bn in 2006

    26 Feb 2007

    Coventry saw a 10.2% rise in mortgage lending and other loans to £10bn in 2006. David Stewart, chief executive of Coventry, says: "These results demonstrate the success of our strategy to develop our core mortgage and savings business."

  • Coventry unveils Godiva

    1 Mar 2007

    Coventry Building Society is to launch an intermediary lender focusing on the specialist mortgage market.

  • Cupis finds open door at Sesame and Young makes an enterprising move

    1 Mar 2007

    John Cupis quit Legal & General Mortgage Club last month to join rival network and mortgage club Sesame.

  • Current & Expected Proportion of Mortgages Packaged Online in 3 months' time

    1 Mar 2007

    est rates and affordability are likely to take effect. Moreover, house price inflation is less likely to be as high in 2007 as in previous years. Jenks says HBOS expects 4% compound house price inflation over the next four or five years. But he does not see lending at £330bn and 4% to 5% house price inflation as a bad thing.

  • CurriculumVitae

    26 Feb 2007

    "I love rugby, and having just hit the big 40, I am in the paranoid phase of going to the gym as much as possible."

  • Dear Delia

    26 Feb 2007

    Dear Delia, I have a client who wants to buy a 3m property in central London for letting purposes. It is obviously not a straightforward buy-to-let case, involving a prestigious property in Mayfair that will be rented out to high earners. I think it will be difficult to get a mortgage because of the large amount involved. Also, the client is looking for a hassle-free application process with minimal checks, an 80% LTV, plus a good rate. What do you suggest?

  • Develop your existing customer base

    26 Feb 2007

    A question brokers often ask is - how can I get more clients? Buying leads is certainly one answer but if a broker has written mortgages for some time, they already have access to the most valuable and cheapest leads of all - their existing customers.

  • Dilemma of the Week

    26 Feb 2007

    I am a broker and bring in an adequate level of business for my company. But I think I am overlooked when it comes to promotion because I am a woman. The men in my office get more praise and respect from the management than my female colleagues and myself. I don't want to be seen as a troublemaker but I'm growing more frustrated by the situation. What can I do?

  • Don't be a well-kept secret

    1 Mar 2007

    Success in the mortgage market is not just a matter of offering a good product. Your firm also needs to develop a good, recognisable brand that can differentiate it from rivals and appeal to customers through the values it projects

  • E2M links up with TMP

    27 Feb 2007

    Easier2move has linked up with The Money Portal, the mortgage club for Batesmillfield, Bates Investment Services and Sage Independent.

  • Easier RMBS comparisons

    26 Feb 2007

    Fitch Ratings has launched a tool designed to increase transparency in the sub-prime residential mortgage-backed securities sector. Deal Compare provides users with the ability to compare asset and liability characteristics of UK sub-prime RMBS transactions.

  • Easier2move to offer HIPs

    26 Feb 2007

    Easier2move has launched a partnership with Global Mortgages which will see it provide a branded white label conveyancing service including Home Information Packs to clients using its mortgage products.

  • Eight out of 10 homeowners don’t care about EPCs

    27 Feb 2007

    Eight out of 10 home buyers attach little or no importance to the energy efficiency rating of a house being offered for sale, says Primemove.com.

  • Equity release key growth area, says Pru

    1 Mar 2007

    Almost a quarter of advisers expect equity release products such as lifetime mortgages to be a key area for growth over the next five years, says Prudential.

  • Exclusive Connections: Shop around for right package

    1 Mar 2007

    Satellite packaging is a trend that is set to continue. It offers smaller packagers access to new lenders and a wider range of products - but making the right choice of partnership is critical to the long-term success of both parties

  • Ex-Paymentshield member blogs for justice

    27 Feb 2007

    A disgruntled ex-Paymentshield member has started a blog about the firm to encourage trail commission claimants to exchange and compare evidence.

  • Finance Finder joins with Dashboard

    27 Feb 2007

    Finance Finder has selected Dashboard as the provider of its case management system.

  • First-time buyers ditch parental help

    28 Feb 2007

    First-time buyers looking to get on the property ladder are less likely than before to turn to their parents for help, the latest research from Abbey reveals.

  • First-timers opting for 100% plus LTVs, says MAB

    26 Feb 2007

    Mortgage Advice Bureau has reported a 50% increase in the number of first-time buyers taking out mortgages in excess of 100% LTV in 2006 compared to 2005. With the average first-time buyer property currently greater than £152,000 and Halifax reporting that first-time buyers now face an extra £120 on their monthly mortgage payments, buyers in 2006 had to borrow increasingly greater amounts to get their first foot on the property ladder.

  • Focus launches POS technology

    2 Mar 2007

    Focus Solutions Group plc has launched a point-of-sale solution, branded focus:pos, for the life, pensions and mortgage markets.

  • Freedom launches B2L trackers

    28 Feb 2007

    Freedom Lending has released limited edition two and three-year buy-to-let discounted tracker products.

  • Freehold: Crunch time for lenders that cannot justify their existence

    1 Mar 2007

    The majority of new lenders in the specialist arena are failing to get the mix right on pricing, unique selling points to the consumer and services and are coming up with almost identical products. So it is inevitable that the is market is heading for a shake-up

  • FSA gets serious about equity release

    26 Feb 2007

    "Ensuring that firms provide appropriate advice about lifetime mortgages is one of our key priorities in the mortgage market. This letter is part of our strategy to address the potential risks to consumers posed by firms carrying out low volumes of such business."

  • FSA names head of mortgages

    26 Feb 2007

    The Financial Services Authority has appointed Mandy Spink to the role of head of mortgages and credit unions in its small firms division.

  • Garfield is the star as industry celebrates

    26 Feb 2007

    John Charcol's legendary chairman John Garfield scooped the lifetime achievement award at the Mortgage Strategy Awards last week.

  • GEMHL teams up with Sesame and Mortgages Direct

    1 Mar 2007

    GE Money Home Lending has teamed up with Sesame and Mortgages Direct, Spicerhaart’s financial services division.

  • GMAC-RFC grants Network Data corporate accounts status

    28 Feb 2007

    GMAC-RFC has granted Network Data corporate accounts status.

  • Government cuts housing funding

    26 Feb 2007

    A steep decline in Right to Buy sales has prompted the government to cut housing funding across the country.

  • Government urged to stall "gold plated" EPCs

    26 Feb 2007

    The Better Regulation Commission has called for the government to delay the introduction of Energy Performance Certificates after it condemned the regulation as gold plated and over complicated.

  • Gross lending hits January record

    26 Feb 2007

    Gross lending hit a record January high of £26.8bn, figures from the Council of Mortgage Lenders reveal.

  • Growth in mortgAge lending (%)

    1 Mar 2007

    Wells disagrees, however. "I would have said fast track is self-cert," he says. "I have always heard the term associated with self-cert. It has never been associated with anything else such as full status or stood on its own. Electronic trading is making the mortgage " If people continue to decide to work for themselves or the number working on temporary contracts increases, there will always be a need for self-cert products"process faster in general, but that's across the board - it doesn't ...

  • HBOS reports gross mortgage lending of 73.6bn

    28 Feb 2007

    HBOS has reported gross mortgage lending of 73.6bn in 2006, up from 60.6bn in 2005.

  • Head of credit for Advantage

    26 Feb 2007

    Advantage has appointed Richard Wilson as head of credit. He will be responsible for the quality of lending and will oversee underwriting and credit risk.

  • Healthy banter is good but personal insults are not on

    26 Feb 2007

    As a regular contributor to the letters pages of Mortgage Strategy I expect feedback to my missives. Healthy banter forms the basis for a thriving magazine and is to be encouraged. But what I do not encourage are letters that move away from key issues and insult me personally.

  • HIPs may attract rogue traders

    26 Feb 2007

    Easy Convey has warned that the growth of the Home Information Pack market could attract rogue traders. It is urging sellers and estate agents to only use qualified legal professionals or licensed conveyancers when commissioning HIPs.

  • HIPs under fire for being an environmental hazard

    26 Feb 2007

    Home Information Packs were slammed again last week, not for potentially denting the housing market but for contributing to climate change.

  • Home of Choice: Quality of advice is real issue

    1 Mar 2007

    The argument about which is better between tied and independent adviser is an overworked and self-interested discussion. When there is real value in the relationship between consumer and distributor and the adviser is doing their job well that is all that matters

  • HSBC acquisition battered in perfect storm

    26 Feb 2007

    It's time for me to take my victory lap and shout, "I told you so."

  • Hush hush

    1 Mar 2007

    zxdfvvdscv They say never work with children or animals but it appears the same could be said for several people in the mortgage industry. There are just some things you really can't legislate for. Such as silly messages written on white boards. it appears someone at Mortgagematch Home Loans thought it would be funny to sneak the message "Amo stinks" onto the white board in the background of last month's Meet the Mortgage Desk. Honestly you just can't get the staff!!

  • Hypocrisy rules on lender strategies

    26 Feb 2007

    What a difference a few months can make. Late last year Abbey caused a furore when it said it was going to offer 5 x income multiples.

  • IFS hosts Skills Exchange Day at Chelsea grounds

    2 Mar 2007

    The IFS School of Finance is to host a Skills Exchange Day at Chelsea FCs Stamford Bridge ground on April 18 2007.

  • Industry launches Mortgage Compliance Forum

    28 Feb 2007

    Industry leaders have come together to form a Mortgage Compliance Forum to work through some of the Financial Service Authority's more pressing issues.

  • Industry risks IT crisis of confidence

    26 Feb 2007

    The near-1m fine doled out to Nationwide for a stolen laptop had to make it the most expensive portable computer in commercial history. But the point was well made by the Financial Services Authority. This is a clarion call to the industry in terms of how we collect, use and store information.

  • IntelliFlo launches IFA client portal

    1 Mar 2007

    Financial services technology provider IntelliFlo, has launched a of client portal available to all users of Intelligent Office at no extra cost.

  • Investec Principle Finance unveils Landmark securitisation

    26 Feb 2007

    Investec Principle Finance, part of Investec Treasury and Specialised Finance has revealed the pricing of Landmark Mortgage Securities No 2 PLC.

  • Is the booming buy-to-let market to blame for first-time buyers' woes?

    26 Feb 2007

    Last week, the Council of Mortgage Lenders revealed that 330,000 buy-to-let mortgages were taken out in 2006 - a %48 increase over 2005. But some experts warn a booming buy-to-let market means a substantial proportion of the UK's housing stock is being pushed further out of the reach of first-time buyers.So, this week Mortgage Strategy asks "Is the booming buy-to-let market to blame for first-time buyers' woes?"

  • It won't be easy for edeus to build strong relationships with packagers

    26 Feb 2007

    Regarding the news story entitled 'Edeus restructures business' (Mortgage Strategy February 5), I think the market is rather confused about how moving aside one's head of packagers and losing a national account manager to a competitor is aligning one's business to support packagers.

  • It's time to review your data security

    26 Feb 2007

    The number of times my email inbox is ass-aulted by Nationwide, Halifax, Barclays et al seems to be on the increase. Alerts are at fever pitch, warning me that the security of my account has been compromised or that my access to online transactions is about to be withdrawn unless I can confirm account details.

  • John Charcol appoints sales director

    27 Feb 2007

    John Charcol has appointed Duncan Banks as its new sales director.

  • John Cupis quits L&G to join rival Sesame

    26 Feb 2007

    Legal & General lost its mortgages and propositions director last week as John Cupis quit to join rival network and mortgage club Sesame.

  • Kensington could be tough sell in US

    26 Feb 2007

    Industry sources have warned that Kensington Group's chances of finding a buyer across the pond could be limited, given the downturn in the US market.

  • Kensington Square is priciest street in England

    26 Feb 2007

    There are now 1,352 streets in England where the average house price is over £1m, research by Mouseprice.com using Land Registry data reveals.

  • Landlord Mortgages calls for Capital Gains Tax breaks

    27 Feb 2007

    Landlord Mortgages has urged the government to allow landlords Capital Gains Tax breaks when selling their properties to first-time buyers and key workers.

  • Launch for new compliance forum

    1 Mar 2007

    Delegates representing interests across the mortgage industry came together in London for the first meeting of the Mortgage Compliance Forum last month. The meeting, at Kensington Mortgages offices in Paddington, was chaired by Nick Battersby, compliance director of the Regulatory Mortgage Packagers' Alliance.

  • Leads firm founder named top young entrepreneur

    26 Feb 2007

    Andrew Georgiou, the 29 year old founder of lead generation company onlyleads.co.uk, beat 500 hopefuls to win the Young Entrepreneur of the Year category at the Sharp Edge Awards last week.

  • Learning sub-prime lessons from the US

    26 Feb 2007

    The US sub-prime market has generated some ugly headlines in the past few months. Several originators have filed for bankruptcy protection and losses continue to mount.

  • Learning to love arrangement fees

    26 Feb 2007

    Arrangement fees are creeping upwards so brokers will have to learn to highlight this to clients and take it into account when they are assessing products, says Mark Harris

  • Legal definition

    1 Mar 2007

    Don't remain in the dark Confused by the plethora of legal jargon in the mortgage industry or want to know what a legal term or practice means? Each month our panel of experts answer questions sent in by readers.

  • Legal services scheme launched for brokers

    1 Mar 2007

    Goldsmith Williams, has launched a new broker nomination scheme for remortgage and conveyancing services with em-financial.

  • Lib Dems warn against volatile market

    28 Feb 2007

    The Liberal Democrat party has warned that world stock markets may not be stable enough to support the UK housing market if it were to slow, or indeed turn.

  • LMS looking for 30% of HIPs market

    27 Feb 2007

    LMS says it's bullish about the introduction of Home Information Packs in June and says it anticipates to snap up a 30% share of the market.

  • LMS to launch home navigation system

    26 Feb 2007

    LMS is launching its Home Navigator system using the Microsoft Virtual Earth Platform on February 27.

  • Make a happy face for charity

    26 Feb 2007

    High Street Home Loans is running a smiley face photo competition in ass-ociation with Mortgage Strategy to raise money for Comic Relief.

  • Marketwatch

    26 Feb 2007

    Swaps fell sharply on February 15 and have been edging back up, but it's good to see a generally downward trend.

  • MDA and Quest scrap merger plans

    28 Feb 2007

    MacDonald, Dettwiler and Associates and Quest Associates have mutually agreed to scrap their plans to merge. The decision follows the Office of Fair Trading's referral of the merger to the Competition Commission for further review.MDA and Quest Associates have mutually agreed to terminate the merger agreement. MDA was recently appointed as the main Home Information Pack provider for Countrywide.

  • MDA to supply Countrywide HIPs

    26 Feb 2007

    MacDonald, Dettwiler and Associates, a provider of essential information solutions, has signed a contract with Countrywide estate agents to be its lead supplier of Home Information Packs.

  • Me & My Car

    26 Feb 2007

    I love Ferraris but with its V8 engine and awesome acceleration, my 360 Spider would be hopeless as an everyday car so it spends most of its life in the garage, says Chris Pearson

  • MGM appoints lender to panel

    26 Feb 2007

    MGM Home Finance has appointed Money Partners Touch, the direct-to-broker business of specialist lender Money Partners, to its lender panel. MGM's 185 members will have access to the full range of specialist products.

  • M-Next unveils buy-to-let tracker

    26 Feb 2007

    Mortgage Next has launched a five-year buy-to-let tracker mortgage funded by West Brom for Intermediaries. The product is priced at base plus 0.7% for five years before reverting to base plus 0.99% for the rest of the term.

  • Mole

    26 Feb 2007

    Snappy Hackette

  • Mortgage Angels appoints head of new media

    26 Feb 2007

    Mortgage Angels has appointed Mo Mulki as head of new media to run its online directory of consumer contact details for brokers and lenders.

  • Mortgage Intelligence: Building up to a bright future

    1 Mar 2007

    Innovation is alive and kicking once more as the mortgage sector enters a new era marked by fresh products and attitudes, new lenders able react quickly to new developments in the market and participation by big finance houses

  • Mortgage Promotions: Partners, not order takers

    1 Mar 2007

    With a shrinking number of distributors, it is important for lenders to become more professional in their approach and recognise their key accounts are actually customers in a business-to-business market.

  • Mortgage terms are getting longer

    26 Feb 2007

    Eight out of 10 lenders now offer mortgage terms of more than 25 years, a survey by Moneyfacts.co.uk reveals.

  • Mortgage Times launches Xit2 link

    1 Mar 2007

    The Mortgage Times has launched a link to Xit2's Conveyancing Portal, enabling it to send conveyancing instructions directly to partner firm McKeags.

  • Mortgages Direct chooses portal

    26 Feb 2007

    Mortgages Direct has chosen Assureweb's mortgage portal to enable advisers to access quotations and submit new business applications online.

  • Motivational courses for advisers

    26 Feb 2007

    Mortgage Minds is offering its staff motivational courses to boost their communication skills and improve their advisory techniques.

  • MPC split on base rate vote

    26 Feb 2007

    The Monetary Policy Committee voted to keep the base rate at 5.25% by seven to two, the minutes of the February meeting reveal.

  • MPLC manager for Scotland and NI

    26 Feb 2007

    Mortgages PLC has appointed Harry McGeough regional manager for Scotland and Northern Ireland.

  • MPs have fixed ideas about finance

    26 Feb 2007

    Discounted trackers are a good alternative to fixed rates for first-time buyers so I put it to this house that MPs should find out more about the subject before passing motions, says Mel Dring

  • MT launches MEX exclusive

    26 Feb 2007

    The Mortgage Times Group has launched a buy-to-let exclusive with Mortgage Express. The deal, which offers a three-year discount rate of 5.89%, has no early repayment charges.

  • MT named best mortgage network

    26 Feb 2007

    The Mortgage Times Group won the best mortgage network gong. Head of marketing Payam Azadi says: "We are delighted to win this award and are looking to double the size of our network this year."

  • MT offers brokers free compliance health checks

    26 Feb 2007

    The Mortgage Times Group is offering brokers who visit its business development forums a free compliance health check.

  • N&P launches two long term fixed rates

    27 Feb 2007

    Norwich and Peterborough is launching two 15 and 20 year fixed rates on March 2.

  • N&P reports 8.8% increase in mortgage business

    1 Mar 2007

    Norwich and Peterboroughs results for 2006 showed that total mortgage assets increased by 8.0% to 2.8bn and mortgage advances amounted to 809m.

  • NAEA reports strong marketplace for lettings

    26 Feb 2007

    The National Association of Estate Agents says there was a strong marketplace for UK residential lettings over Q4 2006.

  • Nationwide rewards existing borrowers

    27 Feb 2007

    Nationwide has launched a mortgage deal exclusively for borrowers that have been with the society three years and longer.

  • NatWest offset fee reduced

    26 Feb 2007

    Royal Bank of Scotland Intermediary Partners has cut the arrangement fee on NatWest's offset mortgage. The fee has been reduced from £345 to £100.

  • Network Data adds Victoria to lending panel

    2 Mar 2007

    Network Data has added Victoria Mortgages to its packaged panel of lenders.

  • Network Data Holdings: IT pipe dreams of packagers

    1 Mar 2007

    Packagers find themselves on crumbling ground as advancing mortgage applications processing technology eats away at their historic added value service. And any idea they could produce a mortgage sourcing system to compete with the likes of Trigold is doomed

  • New compliance forum could be a timely move

    1 Mar 2007

    It seems the Financial Services Authority rarely has a quiet month in the mortgage market these days and March appears to be no exception. With lenders backing down over exit fees at the start of the month, we now stomp onwards to its end with the implementation deadline for treating customers fairly looming large in most intermediaries' minds.

  • Niches to boost distributors

    1 Mar 2007

    Distributors and packagers face a bright future over the next five years. So says Phil Jenks, head of specialist lending at Halifax Bank of Scotland.

  • Niches to boost ditributors

    1 Mar 2007

    Distributors and packagers face a bright future over the next five years. So says Phil Jenks, head of specialist lending at Halifax Bank of Scotland.

  • On the case

    1 Mar 2007

    Client A is an experienced buy-to-let investor who is looking to buy a property in need of repair. Once restored to a good standard, he believes it would be a good long-term investment - but traditionally, lenders have not offered loans unless a property is fit to let out immediately.

  • Only 6% of brokers aware of TCF deadline

    27 Feb 2007

    Mortgage Next has revealed that only 6% of small directly authorised mortgage brokers are aware of the Financial Service Authoirty deadline for implementing the Treating Customers Fairly regime into their businesses.

  • Oryen joins AMPD alliance

    27 Feb 2007

    Oryen, the Middlesbrough-based packager, will join the Association of Mortgage Packagers and Distributors on March 1.

  • paaleads to display telephone transcripts

    27 Feb 2007

    Lead generation firm paaleads.com has revealed it is to display transcripts of its telephone qualifying service on its website.

  • People move to avoid crime

    26 Feb 2007

    One in three people who moved house in the UK in the past five years did so to find a better quality of life, Abbey reveals. For a third of the people who moved, the main reason was that there was too much crime and they wanted to move somewhere safer.

  • Pink brings sales, operations and compliance together

    28 Feb 2007

    Pink Home Loans is bringing its sales, operations and compliance teams together under one director.

  • Pink is on the acquisition trail

    26 Feb 2007

    Pink Home Loans says it is in talks with rival networks and packagers about a possible acquisition in the near future.

  • Pink launches campaign to attract ARs

    28 Feb 2007

    Pink Home Loans is set to launch a campaign with the aim to encourage new intermediaries to come and join its network.

  • Pink unveils executive team

    26 Feb 2007

    Pink Home Loans has unveiled its reorganised executive team which includes the appointment of Kay Leslie as network services director and Elliott Stoneham as chief operating officer.

  • PMPA releases TMB range

    27 Feb 2007

    The Professional Mortgage Packagers Alliance has released a range of exclusive products from The Mortgage Business.

  • Portman to close nine Staffordshire branches

    26 Feb 2007

    Portman says the nine branches it is closing were previously part of Staffordshire and pins the blame on lack of member support.

  • Post-sale, should brokers contact clients to advise on appealing against exit fees?

    27 Feb 2007

    Our experts are split, with one feeling brokers should alert clients to the situation and the other saying the regulator should take the lead

  • PPI firms must clean up their act

    26 Feb 2007

    Payment protection insurance firms must reform their practices or face costly penalties, warns Britishinsurance. com. It also says firms must work together to combat the growing tide of anti-PPI opinion.

  • Praxis to target remote offices

    1 Mar 2007

    Praxis says it intends to triple business from remote offices by the end of 2007.

  • Premier Mortgage Service: Ripe time for a quality checkup

    1 Mar 2007

    While the findings of the FSA report on the quality of advice processes in mortgage firms are still fresh in our minds firms should take the opportunity to ensure their own practices and processes are meeting regulatory standards

  • Prestbury added to takeover panel after rivals swoop to buy

    1 Mar 2007

    Prestbury has admitted in its annual results today that its received a number of offers from interested parties looking to buy it.

  • Professional Mortgage Packagers Alliance: True partners route to success

    1 Mar 2007

    To succede in their partnerships with packager associations, lenders must deal fairly with all association members and keep them informed about their plans. They must also invest in straight-through-processing technology that gives distributors direct links into their systems

  • Promise appoints managing director

    2 Mar 2007

    Promise Homepacks has appointed Darren Beech as managing director.

  • propertyfinder.com teams up with Virgin

    1 Mar 2007

    propertyfinder.com is to supply Virgin Media broadband customers with an exclusive property search capability.

  • Protection is increasingly important

    26 Feb 2007

    The debate over why advisers undersell protection products is flourishing. But is there a new risk that goes beyond adviser apathy?

  • Protection-finding service unveiled

    26 Feb 2007

    Risk Placement Services, which specialises in special risk and impaired life insurance products, has launched a protection-finding service for non-standard clients through Saga Personal Finance.

  • Pru endowments will pay off

    26 Feb 2007

    Prudential last week re-vealed that the vast majority of its mortgage endowments are on target to pay off its customers' home loans in 2007.

  • Prudential has damaged the industry

    26 Feb 2007

    I wonder if you were as shocked as I was when Prudential published its ludicrous research findings suggesting that the protection industry declined 43.9bn worth of claims in the past five years, and that taking out cover through an adviser makes no difference to whether a claim will be declined or not.

  • Prust resignation raises questions

    26 Feb 2007

    John Prust's resignation from Lehman Brothers has sparked speculation about the reasons for his departure and what his next move will be.

  • PTFS gets into secured loans

    26 Feb 2007

    Personal Touch Financial Services has launched into the secured loans market through a joint venture with Promise Finance.

  • Rate changes for ADV range

    26 Feb 2007

    Advantage has unveiled new rates on its ADV sub-prime range. It is offering 3.99% on one-year discounted rate mortgages and 5.94% on three-year fixed rates.

  • Rate hikes boost fixed deals

    26 Feb 2007

    The Bank of England's strategy of raising interest rates has pushed borrowers towards fixed rate products in a spectacular fashion, says Hamptons Mortgages.

  • RBS slashes rates on two-year fixes

    1 Mar 2007

    Royal Bank of Scotland Intermediary Partners has cut the rates on the First Active and RBS two-year fixed rate products.

  • Record year for Exclusive

    26 Feb 2007

    Exclusive Connections had a record year in 2006 with over £2bn of mortgage business completed. This represents a 50% increase in completions over 2005 and is 25% higher than its previous best year in 2004.

  • Refer lifetime business to an expert in the field

    26 Feb 2007

    An Englishman's home may have once been his castle but increasingly it is becoming his retirement income.

  • Regulatory Alliance of Mortgage Packagers: Use compliance to gain an edge

    1 Mar 2007

    As the move to principles-based regulation takes hold it is becoming evident that the packagers that will continue to thrive are those providing regulatory support to help their lending and intermediary partners ensure the mortgage sales process is compliant

  • Remortgages and self-cert drive non-conforming market

    1 Mar 2007

    Rising personal debt that needs consolidating is fuelling a steady rise in remortgages. And with self-certification the most popular option in the specialist lending sector, the two loan categories are the mainstays of the non-conforming market

  • Risks with fast track confusion

    1 Mar 2007

    One of the biggest confusions in the self-cert market is in relation to fast track mortgages. Fast track and self-cert products are completely different, and ensuring they are kept apart is one of the major services distributors can deliver, writes Martin Reynolds

  • Rooftop adds Connect to panel

    28 Feb 2007

    Rooftop Mortgages has added Sussex-based packager Connect Mortgage Group to its distribution panel.

  • RPS expands distribution

    1 Mar 2007

    Risk Placement Services, the online provider of special risk and impaired life insurance products, will now be available to advisers via Mortgage Promotions, Personal Touch and Whitechurch.

  • Say no to packager inducements

    26 Feb 2007

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

  • Secured loans bonus from Swift

    26 Feb 2007

    Swift is offering an additional £100 processing allowance for packaged secured loans business. The bonus will be payable on completion.

  • Self employed in upbeat mood

    1 Mar 2007

    Almost a third (32%) of self-employed people say they are “very confident” about the prospects for their business over the next six months, with 47% expecting turnover to increase in the coming year, according to the first Self-Employed Index produced by Kensington Mortgages.

  • Selfcert finally comes of age

    1 Mar 2007

    Its not just the growing number of self-employed people who are choosing a self-cert mortgage. The fast, flexible approach is also attracting more traditional borrowers as the product moves firmly into the mainstream market, writes Matthew West

  • Self-cert leads way as market sees big rise in packaged cases

    1 Mar 2007

    The average number of mortgages being packaged has reached 170 a month, with self-certification mortgages leading the way in the number of cases being dealt with, according to research from The Mortgage Business.

  • Self-cert looks a dead cert

    1 Mar 2007

    The future for the self-cert market looks bright as the product becomes more mainstream - but brokers need to clean up their act, check affordability, and make sure self-certs are not simply used as a quick fix, writes Brian Murphy.

  • SMS boosts income multiples

    26 Feb 2007

    Solent Mortgage Services has increased the income multiples on its Collingwood Homeloans near prime product range - its branded lending partnership with Kensington Mortgages. Multiples are now tiered to account for risk and therefore change according to LTV and adversity.

  • SMS hands out Premier Awards at 7th dinner

    1 Mar 2007

    Solent Mortgage Services held its 7th Annual Premier Gala Awards dinner this month.

  • Society lending to housing associations up 25%

    26 Feb 2007

    Building society lending to housing associations totalled 2.0bn in 2006, up 25% from 1.5bn in 2005.

  • SPF to use xit2 online system

    26 Feb 2007

    Savills Private Finance has picked technology provider xit2 to provide the online system to manage its external valuations. Alex King, director of SPF, says: "Xit2's Valuation Exchange provides a single efficient system which speeds up the valuation process."

  • Square Mile bosses sign up for three years

    26 Feb 2007

    The directors of Square Mile Mortgage Finance have been locked into three-year contracts as part of their agreement to sell the firm to Cobalt Capital last week.

  • Take work out of commission

    1 Mar 2007

    Moves in the mortgage industry towards better commission payments trails are set to expand the data volumes to be processed. Technology can help you stay in the game but it must be based on a widely used data standard or it might increase rather than reduce the workload

  • Targeted marketing can hit the spot

    26 Feb 2007

    I often bang on about selling being simple - it is about understanding people's problems and solving them.

  • TCF applies to everything brokers do

    26 Feb 2007

    The publication of the Financial Services Authority's business plan for 2007/08 confirms that the regulator's primary focus for the year is principles-based regulation.

  • Teens must learn that money matters

    26 Feb 2007

    This month saw the launch of Learning Money Matters, an initiative being run by educational charity Personal Finance Education Group to help teachers deliver personal finance education in English secondary schools.

  • Terry Young quits Network Data for role at Enterprise

    26 Feb 2007

    Terry Young has quit his position as director at Network Data to join packager Enterprise as director of bespoke partners.

  • Thanks a lot for longer mortgage terms

    26 Feb 2007

    Trapped in long hours at work just to service the mortgage payments on their increasingly expensive homes, where would people be without mortgages?

  • The limited benefits of limited companies

    26 Feb 2007

    Over the past 12 months the number of companies registered as having limited liability has increased significantly.

  • The Money Portal adopts Convex Conveyancing's system

    27 Feb 2007

    Intermediaries at The Money Portal are to use Convex Conveyancings online system in a new partnership.

  • The role of non-status secured loans

    26 Feb 2007

    When the history of lending at the beginning of the 21st century is written it is likely to seem amazing to observers that the prime lending market had become so fixated on different elements of customers' credit profiles that could tip them into becoming sub-prime - particularly as the majority do not have poor credit records when it comes to making repayments.

  • Time for estate agents to act fairly

    26 Feb 2007

    There is a widely held belief that estate agents are regulated but this is not the case, even though that would be a move towards treating customers fairly, says Sue Read

  • Time to put your house in order

    1 Mar 2007

    The FSA has been been busy this year handing out fines for non-compliance, and it is an issue everyone should take seriously. Are your procedures up to date - and are they being adhered to? Sloppy work could cost you dearly

  • Tipton reports 30% increase in mortgage lending

    28 Feb 2007

    Preliminary results from Tipton & Cosely reveal gross mortgage lending was up nearly 30% to 73.22m in 2006.

  • Title Deed - Home Buyer

    26 Feb 2007

    The idea behind the name Home Buyer System came about in 1994 when Richard Angliss was head of sales and marketing at the Automobile Association's financial services division and met Home Buyer System co-director Glynn Williams.

  • TMP launches packaging facility

    26 Feb 2007

    The Beacon Group has teamed up with The Money Portal to offer a facility called TMP Packaging Services for all TMP members. Brokers will be able to access sub-prime lenders' products including exclusives and benefit from on-site underwriting.

  • TMW cuts rates on specialist deals

    26 Feb 2007

    The Mortgage Works has cut rates on its buy-to-let and self-cert mortgages. It has also launched two self-cert products - a three-year fix at 5.63% and a three-year tracker starting from 5.99%.

  • Top spot for eConveyancer

    26 Feb 2007

    Best conveyancer was won by eConveyancer. Sales director Alan Dring says: "This award is a testament to the hard work we have all put in at eConveyancer over the past 12 months. A big thanks to all who voted for us."

  • Trigold poised to launch integrated Dashboard e-packaging system

    1 Mar 2007

    Trigold and Dashboard have announced the launch of a fully-integrated mortgage application processing platform designed specifically for distributors that they say is the first system to offer full straight-through processing from mortgage application to offer.

  • UCB goes green

    27 Feb 2007

    UCB Home Loans has launched a long-term programme based on environmental issues.

  • UCB slashes rates

    26 Feb 2007

    UCB Home Loans is reducing the fixed rates across its entire core range of self-cert and buy-to-let mortgages.

  • UK movers push up prices

    26 Feb 2007

    Roving Brits who move house within the UK are pushing up house prices, according to Properyfinder.com.

  • Understanding self-cert customers' needs is vital

    26 Feb 2007

    Having read the anonymous letter entitled 'MEX gives strange reasons to justify self-cert deals' (Mortgage Strategy February 12), I'd like to make a couple of points regarding self-cert customers.

  • United Packagers' Association: Enough of this Vulgo business

    1 Mar 2007

    The orgy of company rebranding that in 2003 sparked a satirical website by Design Conspiracy now appears to have taken root in the mortgage industry with so many labels for firms, products and projects that the industry risks diluting recognition and trust in brands

  • Victoria slashes fixed rate pricing

    28 Feb 2007

    Victoria has reduced its fixed rate pricing on its two and three year fixed rates.

  • War of words breaks out between TMB and edeus

    26 Feb 2007

    A bitter war of words has broken out between The Mortgage Business and edeus, with TMB managing director Nigel Payne deriding Michael Bolton's lender for being full of "front and self-delusion".

  • West Brom and Trigold offer Orient Express competition

    26 Feb 2007

    West Brom for Intermediaries and Trigold are offering brokers the chance to win a trip on the Orient Express by submitting applications via Trigolds E-Trading Centre.

  • West Brom changes to notional B2L rent calculations

    1 Mar 2007

    West Brom for Intermediaries is switching its buy-to-let rental calculations to a fixed notional rate of 5.95%.

  • Woolwich continues to make progress

    26 Feb 2007

    Woolwich has become a more interesting proposition in recent times and shows no signs of slowing down its push to get back on the map - as it should, being the mortgage brand of a bank as big as Barclays.

  • Woolwich returns to two year fixed market

    28 Feb 2007

    Woolwich is returning to the two year fixed rate market as SWAP rates begin to stabilise

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