Mortgage Strategy
26 May 2008

  • Advantage calls it a day

    27 May 2008

    Advantage is to stop originating mortgages on June 16. Mark Clarke, outgoing chief executive officer of Advantage, says: "I'd like to thank the borrowers, brokers, suppliers and staff who have been part of our journey in the past three years."

  • Website sees IVA enquiries boom

    27 May 2008

    IVA.com says it saw a 50% increase in enquiries for individual voluntary arrangements in the last few days of April. The website says it has also seen a sharp rise in enquiries from professionals.

  • The clue is not in the title…………

    30 May 2008

    The financial services industry is much exercised this year by the FSA implementing its views on the concept of Treating Customers Fairly.

  • The trouble with PPI

    30 May 2008

    The controversy surrounding the selling of Payment Protection Insurance does not look set to ease up anytime soon.

  • Where are we now?

    29 May 2008

  • £1m mortgage vanishing from the market

    29 May 2008

    Mortgage deals worth over £1m are “becoming virtually extinct” warns wealth manager HFM Columbus.

  • A&L unveils Imail service for BDMs

    27 May 2008

    Alliance & Leicester has launched its Imail service for BDMs. The system allows BDMs to communicate with brokers using a personalised email system instead of the lender's generic system.

  • Abbey expands access to exclusive products

    28 May 2008

    Abbey for Intermediaries has extended the number of brokers who have access to its range of exclusive products, as well as raising the LTV offered on these products.

  • Adair Turner appointed chairman of FSA

    30 May 2008

    The chancellor Alistair Darling has appointed Lord Adair Turner to be the new chairman of the Financial Services Authority.

  • Adair Turner tipped as next FSA chairman

    27 May 2008

    The Treasury is rumoured to be poised to appoint Lord Adair Turner as the next chairman of the Financial Services Authority.

  • AMPD adds Cheshire to packaged panel

    27 May 2008

    The Alliance of Mortgage Packagers and Distributors has added Cheshire Mortgages, part of the Blemain Group, to its panel of packaged mortgage lenders.

  • ARs of non-mortgage networks appear to get an easier ride

    27 May 2008

    Times are tough for all brokers at the moment, but some seem to have found an easier path than others.

  • Asda may partner multiple brokers

    27 May 2008

    Asda's launch into the mortgage market could involve multiple partnership deals with brokers, an industry source says.

  • Assetz urges banks to stop profiteering

    30 May 2008

    Property investment firm Assetz says banks’ profiteering is lowering house prices.

  • AXA cuts protection rates

    29 May 2008

    AXA rejigs premiums on life protection range.

  • Banks swapped £16bn in 10 days

    27 May 2008

    New Star claims banks swapped around £16bn worth of securities within 10 days of the Bank of England giving them access to its Special Liquidity Scheme.

  • Barnetts calls on brokers to be project managers

    28 May 2008

    Conveyancing firm Barnetts Solicitors is calling for brokers to add value to their service by becoming client project managers.

  • BDS launches online e-learning system

    28 May 2008

    The BDS Mortgage Group has launched an online e-learning system for its appointed representative members.

  • BDS makes BDM appointment

    27 May 2008

    BDS Mortgage Group has appointed Lesley Munro as BDM to manage brokers switching to the group. Munro joins from packager Knight Funding.

  • BDS rolls out AR training platform

    28 May 2008

    The BDS Mortgage Group has launched an e-learning system for its appointed representatives.

  • Bill Warren launches compliance business

    29 May 2008

    Bill Warren, former director of the Regulatory Alliance of Mortgage Packagers, has launched a new consultancy firm to provide compliance support to financial services firms.

  • BoE's hands are tied by inflation target

    27 May 2008

    The Bank of England's quarterly report on inflation states that the Consumer Price Index inflation rate, which already stands at 3%, is likely to rise to 3.6% this autumn. The BoE's statement points to higher fuel and food costs as one of the main reasons for this.

  • BoI's UK loan book edges up

    27 May 2008

    The Bank of Ireland's UK mortgage book rose from £145m in 2007 to £147m in 2008. Brian Goggin, group chief executive of BoI, says the figures are satisfactory.

  • Borrowers cutting back on life cover are at risk, says My Mortgage Direct

    29 May 2008

    Only one in five home owners sign up for life cover with their mortgage, exposing many borrowers to massive risk, says broker My Mortgage Direct.

  • Broker could be sidelined by FSA table

    30 May 2008

    The introduction of a Payment Protection Insurance comparison table from the Financial Services Authority runs the risk of sidelining the broker from the sales process, warns insurer Paymentshield.

  • Brokers are served the cold shoulder

    27 May 2008

    Like knights of old who have outstayed their welcome, brokers are getting signals from lenders that they are no longer welcome and distribution is king no more, says Julian Wells

  • Brokers can only sell one Kensington deal

    27 May 2008

    Mortgage brokers have access to just one of several investment products Kensington is distributing for parent Investec.

  • Brokers dubious about charging for direct deals

    27 May 2008

    Some 62% of Mortgage Strategy Online readers think that charging fees for advising clients on better mortgages available direct from lenders is not viable.

  • Brokers flock to Stonehaven

    27 May 2008

    Stonehaven saw broker registrations rocket 50% last month. The rise follows the launch of the equity release provider's 5.97% Flexible Cash Release Lite deal.

  • Brokers' star falls but will rise again

    27 May 2008

    Back when potential home owners had to save for 12 months before their society would consider them for a mortgage, when a bank's word was its bond and bank managers had integrity and knew their customers personally, brokers weren't valued. In fact, they were often seen as parasites living off host lenders.

  • Business still to be done says Base

    27 May 2008

    Base Commercial Mortgages says there is still plenty of good quality business to be done.

  • CAL reveals online conveyancing trading platform

    27 May 2008

    The online conveyancing distributor Conveyancing Alliance Limited has today revealed its fully integrated trading platform.

  • Car crash

    27 May 2008

    Finally it was great to see someone making light of the credit crunch with the news that Loanmakers managing director Tim Wheeldon has named his team for an endurance car series after the global economic crisis.

  • CAT standard deals could help brokers and borrowers

    27 May 2008

    I have an idea about how the government could help the mortgage market.

  • Chase De Vere investigating adviser over bad practice allegations

    27 May 2008

    Chase De Vere is investigating one of its advisers over claims made by Sky News that the broker offered one of its researchers a mortgage they could not afford.

  • Cheshire Mortgage Corporation added to em-

    28 May 2008

    Mortgage packager em- financial has added the Cheshire Mortgage Corporation to its lending panel.

  • CML reveals April lending figures

    27 May 2008

    The Council of Mortgage Lenders has revealed gross mortgage lending reached an estimated £23.5bn in April. The figure represents a 5% increase on March's figures but an 8% decrease compared with April 2007.

  • Commercial First refinances

    27 May 2008

    Commercial First has refinanced its business with a £40m three-year working capital facility from Lloyds TSB. This has enabled it to secure long-term stability after it was forced to temporarily suspend new lending in April.

  • Commercial squeeze will weed out poor quality brokers who blight the sector

    27 May 2008

    The recent withdrawal of several lenders from the commercial marketplace and the repositioning of others in terms of LTVs, fees, rates and commission has had a devastating effect on the intermediary sector.

  • Culhane resigns from edeus board

    28 May 2008

    Michael Culhane, chief executive of Oakwood Home Loans, has resigned from the board of directors of edeus.

  • CurriculumVitae: Julie Alderson

    27 May 2008

    "There was an incident with a hot air balloon"

  • Danny Lovey: “We can unlock liquidity”

    30 May 2008

    A mortgage broker from Essex thinks he may have the cure to the liquidity crisis engulfing the UK mortgage market and believes his ideas could deliver the magic to kick start the market back into action.

  • DCLG to analyse future of regeneration

    27 May 2008

    A study in to the effects the credit crunch may have on regeneration is to be commissioned by local government minister John Healey.

  • Debt service via Connect

    27 May 2008

    Guardian Debt Management's services will now be available via Connect Mortgage Group. These include individual voluntary arrangements and sale-and-rent-back schemes.

  • Debts.co.uk acquires Relax Finance for £3m

    27 May 2008

    Debt solutions provider Debts.co.uk has acquired Relax Finance, including Relax Mortgages, for £3m.

  • Developer targets hesitant clients

    27 May 2008

    Galliford Try Homes is launching a range of initiatives to encourage hesitant buyers to purchase new property. The house builder is linking up with New Homes Mortgage Helpline to raise awareness of mortgage deals and incentives.

  • Does the extension of first-day marketing devalue Home Information Packs?

    27 May 2008

    Our experts' views vary, with one saying the extension may devalue HIPs and the other saying the industry will greet the delay with relief

  • Doom on the cards for consumers

    27 May 2008

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

  • Double standards on dual pricing

    27 May 2008

    The Financial Services Authority's pronouncement that brokers only have to highlight to clients the fact that better deals may be available direct from len-ders was a kick in the teeth to the idea of treating customers fairly.

  • Dunfermline equity release deals offer regular payment option

    29 May 2008

    Dunfermline is launching a range of equity release products with regular payment options, making it the first lender to do so since Northern Rock last year.

  • Edeus has found "cure" for credit crunch, says Cleary

    27 May 2008

    Alan Cleary, managing director of edeus, says the firm has found the cure to the credit crunch.

  • EDGE V2 completes integration with First National

    28 May 2008

    EDGE V2 the specialist sourcing system developed by Enterprise, went live today with fully integrated KFI functionality with First National.

  • Ex-manager holds wake for TMO

    30 May 2008

    A former staff member of The Mortgage Operation is holding a wake for the closed company.

  • Fan mail

    27 May 2008

    Mortgage Strategy’s exiled senior reporter Laura Stavro-Beauchamp has received supportive letters by the sackful since mole received she had been forcibly thrown out of the country two weeks ago.

  • Fingers crossed for PPI findings

    28 May 2008

    Patrick Bamford, managing director, UNIFi Partners

  • Flexibility is our friend in hard times

    27 May 2008

    While the current market is not much fun for most of us, what with job losses, dual pricing and reductions in proc fees, some firms will be making hay.

  • FOS sees 30% increase in new complaints

    28 May 2008

    The Financial Ombudsman Service handled a record 794,648 consumer enquiries and 123,089 new complaints last year, a 30% annual increase, but saw a 70% decrease in mortgage endowment complaints.

  • FOS sees 30% increase in new complaints

    28 May 2008

    The Financial Ombudsman Service handled a record 794,648 consumer enquiries and 123,089 new complaints last year, a 30% annual increase, but saw a 70% decrease in mortgage endowment complaints.

  • FSA gives mixed messages on TCF

    27 May 2008

    In light of lenders offering better deals direct, recent statements from the FSA leave brokers in a dilemma when it comes to delivering on the TCF initiative, says Katie Tucker

  • FSA has got itself in a mess when it comes to dual pricing

    27 May 2008

    I was interested to read the recent comments from the Financial Services Authority calling on brokers to charge fees for sending customers direct to lenders.

  • FSA releases consumer mortgage checklist

    30 May 2008

    The Financial Services Authority is ramping up its consumer education campaign in reaction to concerns about mortgage arrears.

  • FSA releases findings from liquidity discussion paper

    27 May 2008

    The Financial Services Authority has published feedback to its discussion paper on liquidity requirements for banks and building societies.

  • FSA should help brokers, not profiteering lenders

    27 May 2008

    How can the FSA support its decision that dual pricing is a viable commercial choice?

  • Future shock hits packagers

    27 May 2008

    Packagers say the closure of Future Mortgages has left a question mark over the sector's prospects.

  • GE MHL selects Heath Lambert to offer insurance products

    28 May 2008

    GE Money Home Lending has selected Heath Lambert Group to offer its customers home insurance products.

  • GEMHL in sub-prime pledge

    27 May 2008

    GE Money Home Lending has reassured brokers that it re-mains committed to sub-prime lending.

  • Goldsmith Williams teams up with Praxis Mortgages

    28 May 2008

    Goldsmith Williams, the direct conveyancing firm, is making its specialist services, which include GW Live, available via Birmingham based packager, Praxis Mortgages.

  • Goldsmith Williams to support Praxis

    28 May 2008

    Goldsmith Williams has finalised a deal to provide specialist conveyancing support to brokers using Praxis Mortgages.

  • Halifax now seems to be in competition with brokers

    27 May 2008

    Halifax never ceases to amaze me. As if things weren't hard enough for brokers with dual pricing, reductions in proc fees and products being withdrawn on almost a daily basis, we now have to put up with direct, aggressive competition from a lender we once gave business to.

  • Halifax to slash rates and fees

    30 May 2008

    Halifax is unveiling a new mortgage range on Monday including tracker rates cut by 0.3%.

  • HBOS deal may be too pricey

    27 May 2008

    HBOS may be forced to hike its mortgage rates if it wants to complete another major securitisation deal, a market expert claims.

  • Hidden B2L deals exposed

    27 May 2008

    The Business Development Research Company claims up to 500,000 homes in the rental sector may have been bought with permission-to-let deals.

  • High net worth borrowers on the rise

    28 May 2008

    Over one-third of brokers have seen a rise in the number of loans over £500,000 in the last three years, research from Bank of Scotland reveals.

  • HIPS delay proves critics wrong

    27 May 2008

    The government decision to delay Home Information Packs until August 1 has proven critics wrong, says Easier2Move.

  • Hodge joins Paradigm panel

    27 May 2008

    Paradigm Mortgage Services has added Hodge Equity Release to its panel. Hodge will provide lifetime mortgages and home reversion deals including three schemes that provide cash lump sums.

  • Home owners turn to lettings

    27 May 2008

    Clients struggling to sell their homes are turning to the rental market, the Royal Institution of Chartered Surveyors says. Surveyors have reported a rise in new landlords in Q1.

  • Housing transactions to plummet

    27 May 2008

    Industry trade bodies are predicting a 35% to 40% plunge in housing transactions this year.

  • I don't want to be in lenders' shoes

    27 May 2008

    A recent meeting with luminaries from RBSIP opened my eyes to the difficulties lenders face in today's market, although dual pricing is still the wrong way for them to proceed, says Sue Read

  • IMF no longer countries' financial saviour, says BoE

    28 May 2008

    The Bank of England says the International Monetary Fund is no longer able to fulfil its role as the rescuer of crisis-stricken countries.

  • IMLA backs brokers

    30 May 2008

    The Intermediary Mortgage Lenders Association is standing up for brokers saying they are "an essential part of the landscape of the market".

  • John Charcol in redundancy review

    29 May 2008

    John Charcol is in the midst of a consultation with staff over redundancies, and is in talks with its chief executive Ian Kennedy about his future at the company.

  • Labour peer appointed chairman of FSCP

    27 May 2008

    A former Labour peer, Lord Lipsey, has been appointed as the chairman of the Financial Services Consumer Panel by the Financial Services Authority.

  • Land Registry figures show property prices down 0.2%

    30 May 2008

    Property prices fell by 0.2% during April, taking the average house price to £183,626, the latest figures from the Land Registry show.

  • Lehman Brothers still to file accounts

    30 May 2008

    Lehman Brothers could face legal action if they fail to file their overdue accounts.

  • Lenders plan survival as BoE dithers

    27 May 2008

    With a further $75bn and $25bn to be made available via auction on a fortnightly basis to lending institutions in the US and Europe, the Federal Reserve and the European Central Bank respectively seem determined to shore up lending activities in their spheres of influence.

  • Lenders under fire over PPI

    27 May 2008

    British insurance is accu-sing lenders of duping cus-tomers into taking out over- priced and unnecessary payment protection insurance.

  • Living Plus and more 2 life roll out home reversion deal

    28 May 2008

    Equity release provider more 2 life has struck a partnership deal with Living Plus to provide a home reversion product in addition to its existing lifetime mortgage offering.

  • Loanoptions.co.uk revamps website

    27 May 2008

    Secured loan packager, Loanoptions.co.uk, has relaunched its website after research from intermediaries.

  • LV= launches mortgage and lifestyle protection product

    28 May 2008

    LV= has today launched a mortgage and lifestyle protection product to protect customer’s mortgage payments and living expenses.

  • Many a slip between thought and lip

    27 May 2008

    The older I get the more I'm convinced that language is a tool of deception and this problem is compounded by the propensity of some to fool themselves as well as others.

  • Market Watch 27 May 2008

    27 May 2008

    Swaps surged last week and are now at their highest level for six months. Three-month LIBOR leapt up too.

  • Mayfair Bridging receives record enquiries

    29 May 2008

    Mayfair Bridging has seen a record number of bridging enquiries. Yasin Patel, director at Mayfair Bridging, says it has had a record month.He says: "We have a had a record month thanks to our brokers. Although we concentrate on loans under the £500,000 mark, we have a very large appetite to lend. Our brokers find the online case tracking system very useful as it updates them in real-time."

  • Merger maker

    27 May 2008

    When Matthew Wyles talks, people listen. He was instrumental in the merger of Nationwide and Portman and has some home truths for a mortgage industry struggling with the credit crunch, says Christine Toner

  • Mortgage details found in street

    28 May 2008

    Documents containing names and mortgage details of Leed's customers have been found on a Belfast city centre street.

  • Mortgage lending hit £17.8bn in April

    27 May 2008

    The British Bankers' Association says gross mortgage lending hit £17.8bn in April.

  • Mortgagepackager.co.uk to offer free valuations

    30 May 2008

    The Mortgagepackager.co.uk is offering free valuations on all mortgages packaged through its exclusive deal with The Mortgage Business and BM Solutions.

  • Mosaic campaign will benefit itself more than brokers

    27 May 2008

    Call me cynical, but I was rendered speechless when I saw the supposed anti-dual pricing campaign launched by Mosaic Mortgage Club recently.

  • Moving home costs businesses £1.5bn a year

    27 May 2008

    The time employees spend co-ordinating the moving home process during office hours costs UK businesses £1.5bn every year, estimates Moveme.com.

  • MPC voted eight to one for freeze

    27 May 2008

    Minutes from the Monetary Policy Committee show eight members voted to freeze the Bank of England base rate to stave off inflation. Only David Blanchflower voted for a cut.

  • MS Podcast launches

    27 May 2008

    Stephen Knight reveals his secrets for predicting the market's future in the first of a series of Mortgage Strategy Podcasts.

  • NAEA members see positive signs

    27 May 2008

    Members of the National Association of Estate Agents think the housing market is stabilising. Chris Brown, president of the NAEA, says figures from its April report suggest stability but consumer confidence remains low. He adds: "Property supply is good but buyers are being cautious."

  • Nationwide figures don't tell whole story, says NAEA

    29 May 2008

    The National Association of Estate Agents says Nationwide's house price index does not portray regional variations.

  • Nationwide optimistic despite May house price fall

    29 May 2008

    Nationwide figures show house prices fell again this month and are down £8,000 compared with this time last year.

  • New homes still going strong in South-East

    30 May 2008

    The South East is bucking the national trend of falling house prices when it comes to new homes, says SmartNewHomes.com.

  • Newcastle to display artwork in new premises

    27 May 2008

    Newcastle is to display local artwork in different parts of its new premises in Cobalt Business Park.

  • Northern Rock plans to redeploy staff

    30 May 2008

    A document revealing Northern Rock’s plans to move forward with its downsize has made its way into the public domain, says a source.

  • OFT bans rogue estate agent

    27 May 2008

    The Office of Fair Trading has banned an estate agent in Scotland for perpetrating fraud. Roderick Yule, an estate agent from Fife, was deemed unfit to continue after committing the offences. The OFT says the case shows it will get tough on rogue estate agents.

  • Orbiter appoints sales and marketing director

    29 May 2008

    Orbiter has hired Pete Thomson to lead its sales and marketing department.

  • Packager firms NMS and FMS merge

    27 May 2008

    Niche Mortgage Solutions and Finance & Mortgage Solutions have joined forces and merged their packager arms.

  • Packagers link up to beat the crunch

    27 May 2008

    Em-financial and Open Door Solutions have launched a strategic partnership in a week that saw other pack- agers join forces to shore up their market positions.

  • Paradigm gives brokers access to direct deals

    29 May 2008

    Paradigm Mortgage Services tackles dual pricing with Home Buyer System Lite.

  • Paradigm launches two-tiered protection project

    27 May 2008

    Paradigm Mortgage Services has launched a two-tiered protection proposition.

  • Paradigm sets up protection panel

    27 May 2008

    Paradigm Mortgage Services has launched a service that enables all brokers to sell protection products from top providers.

  • Paragon launches tax guide

    27 May 2008

    Paragon Mortgages has launched its online Tax Guide to encourage landlords to take advantage of tax breaks.

  • Paragon unveils half-year results

    27 May 2008

    Paragon Mortgages has reported overall profits of 38.4m in its half-year results. It saw secured personal advances of 94.9m in the six months ending March 31 compared with 103.3m in the previous six months.

  • Park life

    27 May 2008

    Trying to find cheap parking is a problem for all drivers.

  • People searching for 100% mortgages on Ask.com

    29 May 2008

    People using search engine Ask.com are searching for 100% mortgages, more than any other financial product.

  • Personal Finance Society teams with 1st - The Exchange

    28 May 2008

    The Personal Finance Society is partnering with 1st - The Exchange to provide its members with access to PFS’s Promoting Excellence in Equity Release initiative by giving them free access to the Exweb online equity release service.

  • Pink Group launches Bank of Ireland exclusive

    27 May 2008

    The Pink Home Loans Group is rolling out an exclusive buy-to-let deal funded by Bank of Ireland Mortgages.

  • Pink programmer to ride from London to Paris

    28 May 2008

    A staff member at Pink Home Loans is taking part in the three-day London to Paris cycle ride.

  • Pink seeks partners to help brokers diversify

    29 May 2008

    Pink Home Loans is set to add bridging loans, equity release and home reversion providers to its panel to give brokers more comprehensive access to alternative income streams.

  • Platform launches into lender services

    27 May 2008

    Platform has launched a lending services department incorporating a mortgage processing and service management division.

  • Prices fall again, says Hometrack

    27 May 2008

    Figures from Hometrack show house prices have tumbled for the eighth consecutive month. Richard Donnell, director of research at Hometrack, says: "It's likely that in the short term prices will continue to edge down until they reach a level where buyers are prepared to commit."

  • Products available to brokers decline by 27%

    27 May 2008

    The number of mortgage products available to brokers fell by 27% in April, Trigold's product index reveals.

  • Questions of value in a bear market

    27 May 2008

    The credit crunch has made the job of valuers more difficult and they must use evidence to plot a course through the minefield of falling prices and client dissatisfaction, says Simon White

  • Rate Hunter and BDS launch viral marketing campaign

    29 May 2008

    Midlands based mortgage broker, Rate Hunter, has launched its secured loan website www.searchandapply.co.uk along with a viral marketing campaign to drive secured loan enquiries to BDS Secured Loans.

  • Registrations returning to pre-credit crunch days, says TFC Homeloans

    28 May 2008

    TFC Homeloans says the number of registrations it is experiencing marks a return to levels seen prior to the credit crunch.

  • Regulator fines three brokers

    27 May 2008

    The Financial Services Authority last week fined three brokers for poor sales procedures and named and shamed another for shoddy promotions.

  • Regulator has missed a great chance to promote advice

    27 May 2008

    Reading the increasing number of stories about dual pricing being featured in Mortgage Strategy, I feel sorry for everyone involved but it is brokers who are suffering most.

  • Remortgage and prime business dominates market

    27 May 2008

    Remortgaging and prime customers are now the dominate force in the mortgage market with the decline in home movers and first-time buyers.

  • S&P sees sharp rise in mortgage arrears

    28 May 2008

    More than a fifth of home owners with poor or no credit history have fallen behind on their mortgage payments, says credit ratings agency Standard & Poor’s.

  • Savings of £880 for home buyers that go direct

    27 May 2008

    Borrowers could be saving up to £880 each year by applying direct, says mform.co.uk.

  • Secured Solutions launches broker pack

    27 May 2008

    Secured Solutions, The OFM Group’s secured loan master broker, is offering a compliance pack to brokers.

  • SMS opens up products to other packagers

    29 May 2008

    Solent Mortgage Services is to allow fellow packagers to access its products, processing, and its technology platform, The Porthole.

  • Still reasons for commercial brokers to be optimistic

    27 May 2008

    Commercial lender, Base Commercial Mortgages says there are still good reasons for commercial mortgage brokers to remain optimistic and plenty of good quality business to be done.

  • Stock Picker

    27 May 2008

    Bradford & Bingley and Alliance & Leicester were in favour last week following rumours that Barclays was interested in making a bid for one of the firms.

  • TBMC joins Thinc's packager panel

    30 May 2008

    The Business Mortgage Company is joining Thinc Group’s packager panel.

  • TFC sees 42% increase in new registrations

    28 May 2008

    TFC Homeloans, part of the Orbiter Group, has seen an average monthly growth in new registrations of 42% from February to April 2008.

  • The dating game

    27 May 2008

    With all the talk of diversifying at the moment, it seems the advice has not fallen on deaf ears.

  • The Motgagepackager.co.uk launches the valet packaging service

    30 May 2008

    Hampshire based packager, The Mortgagepackager.co.uk, is launching the valet packaging service, and exclusive deal with TMB and Halifax Conveyancing Services.

  • This week's top question from CashQuestions.com

    27 May 2008

    Question: A couple own a large house in north London worth over £1m. The wife is self-employed and in her 50s while the husband is in his 80s. They want to renovate the coach house attached to their property so they can live in it and rent out the house. The work will cost around £50,000. They tried to remortgage with their current lender but were refused. They've only been able to source an unsecured loan of £25,000 at 8.9%.

  • Three non-executive directors appointed to FSCS board

    30 May 2008

    The Financial Services Authority has reappointed three non-executive directors to the board of the Financial Services Compensation Scheme.

  • Tide is turning against dual pricing, says AMI

    27 May 2008

    The tide is turning for brokers hit hard by dual pricing, the Association of Mortgage Intermediaries says.

  • TMA is urging brokers to use whole of market

    27 May 2008

    The Mortgage Alliance is calling for brokers to maximize ancillary sales to help them through the credit crisis.

  • TMA urges brokers to maximise ancillary sales

    27 May 2008

    The Mortgage Alliance is advocating that mortgage intermediaries should maximize ancillary sales to help navigate their way through tempestuous market conditions.

  • TMB denies packager cull

    27 May 2008

    The Mortgage Business has shot down suggestions that it is trimming its packager panel. The HBOS subsidiary says it remains committed to packagers as key distribution partners.

  • Trigold refuses to list direct deals

    27 May 2008

    Sourcing system Trigold will not be including direct-only products on its database.

  • Ussher to speak at AIFA annual dinner

    27 May 2008

    Economic Secretary to the Treasury Kitty Ussher MP will be delivering the key note speech at the annual general meeting and dinner of the Association of Independent Financial Advisers.

  • We must safeguard economic growth

    27 May 2008

    The nice decade is over. In this context, nice serves as economic shorthand for non-inflationary continuous expansion.

  • West Bromwich pre-tax profits drop by £3m

    28 May 2008

    West Bromwich has reported a pre-tax profit of £41.1m, for the year end, March 31, 2008, down from £44.1m for 2007. Despite this, its assets grew by 15% to £9.6bn, while mortgage assets under management were up 9% to £7.3bn, with gross lending of £2.3bn. The society returned £37.5m in mutuality benefits to members through better savings and borrowing rates in the year under review, up from £34.1million.

  • White Label Loans forecasts tough six months ahead

    29 May 2008

    Kam Sanghani, managing director at White Label Loans is predicting the next six months will be tough, but a more competitive market should emerge at the end of it.

  • Woolwich launches tracker deal

    28 May 2008

    Woolwich is launching a lifetime tracker and updating its fixed rate deals.

  • Would you pay a broker if they advised you to go direct to a lender?

    27 May 2008

    Last week The Financial Services Authority reiterated its position on dual pricing, which is that lenders are not breaching regulations by distributing their best deals via branches. It suggests brokers charge clients fees when advising them to go direct but this has been branded impractical.

  • Wyles says dual pricing will die out

    27 May 2008

    Matthew Wyles says dual pricing will wither away when lenders' funding problems start to subside.

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