Mortgage Strategy
27 April 2009

  • A great tackle by Alan Shearer leaves him out cold

    27 Apr 2009

    With some blinding displays of football recently - notably Everton snatching victory from Manchester United in the FA Cup semi-final and Arsenal's stunning 4-4 draw with Liverpool at Anfield last week - I was reminded of a story about Newcastle manager Alan Shearer at his local building society back when Nationwide sponsored the Championship.

  • 305 jobs to go as Lloyds axes Clerical Medical

    30 Apr 2009

    Scottish Widows and Clerical Medical intermediary sales forces are to combine under the Scottish Widows brand, resulting in the loss of 305 jobs.

  • 60 seconds with...Jas Jaspal

    27 Apr 2009

    How are you coping in the downturn? We've been cutting our cloth accordingly. For those who know me this will almost sound unbelievable but I'm actually focussing on work. We were on a recruitment drive last September but that's gone the other way.

  • A perfect chance to build a relationship

    27 Apr 2009

    Is a borrower who wants to speak to you six months before the end of their mortgage tie-in period an opportunity or a waste of time?

  • A rose-tinted view won't help housing market

    27 Apr 2009

    It would be so nice if some of the people at the top of the property and lending industry spent some time in the real world.

  • A&L launches four-year fix

    29 Apr 2009

    Alliance & Leicester is launching a four-year fixed product with a rate of 4.39%, 1% fee, 65% LTV, and maximum loan of £1m.

  • Abbey (and Alliance & Leicester) announces good Q1 figures

    30 Apr 2009

    Abbey announced its results (unaudited) for the first quarter of 2009 this week and these confirmed a further increase in the bank’s (now also including Alliance & Leicester) market share of gross lending, pushing the figure back up to an estimated 15%, compared to only 11.0% in the previous quarter.

  • Abbey offers direct only fixed rates deals

    30 Apr 2009

    Abbey is launching a range of direct only mortgages offering its lowest fixed rates in 10 years.

  • Accord Mortgages launches semi-exclusives

    27 Apr 2009

    Accord Mortgages has launched a range of semi-exclusive mortgage deals through its key lending partners.

  • Act today so you can benefit tomorrow

    27 Apr 2009

    While the headlines continue to report tumbling profits and downward sales trends in many industry sectors, is there a glimmer of hope for the property market?

  • AMI woos small firms to board

    27 Apr 2009

    The Association of Mortgage Intermediaries is issuing a rallying call to small brokerages, encouraging them to stand for election to its board.

  • Amount of equity being withdrawn increases 16%, says SHIP

    1 May 2009

    Members of Safe Home Income Plans, the UK equity release industry body, that represents over 90% of the equity release sector in terms of volume, has seen a year-on-year 16% increase in the amount of equity people are withdrawing.

  • Arrears help is at hand

    1 May 2009

    As the recession ramps up the pressure on borrowers, outsourcing specialists can add value to lenders' arrears management processes, says Matthew Vallance, president of Firstsource

  • Assurant Intermediary partners with Enterprise Group

    28 Apr 2009

    Assurant Intermediary has teamed up with Enterprise Group - the provider of EDGE.

  • Bad bank, naughty bank, in your bed

    29 Apr 2009

    I heard the news today, (oh boy), that the government are planning to sell off Northern Rock by the end of the year after splitting it up.

  • Bank of China in tie-up to offer broker advice

    27 Apr 2009

    Bank of China (UK) has become the second bank to dip its toes into the broker market and offer whole-of-market advice in its branches.

  • Bank of China to offer whole-of-market advice in branches

    1 May 2009

    Bank of China (UK) has become the second bank to dip its toes into the broker market and offer whole-of-market advice in its branches.

  • Bank of England should get regulatory control

    27 Apr 2009

    I would like to put my two pennies worth in with regard to regulation going forward. Surely common sense should start to prevail - the Financial Services Authority does not have the capability or confidence to continue regulating financial institutions and advisers.

  • Banks’ mortgage lending falls in March

    27 Apr 2009

    Mortgage lending by banks in March was marginally weaker than in February, show figures from the British Bankers’ Association.

  • Become an equity release referrer

    27 Apr 2009

    I made the point last week that you should think carefully before deciding how to enter the equity release market and I hope you have taken my advice.

  • Big players shun mortgage support scheme

    1 May 2009

    Large lenders are shunning the government's Homeowner Mortgage Support Scheme and instead offering their own initiatives.

  • Bolton to bolt

    27 Apr 2009

    And finally, industry consultant Michael Bolton was apparently left reeling from last week's Budget.

  • Borrowers face a tough decision

    27 Apr 2009

    I'm sure it did not come as a surprise to many industry experts that the Bank of England held the base rate at 0.50% this month.

  • Britannia members vote in favour of Co-operative merger

    29 Apr 2009

    Members of Britannia have voted overwhelmingly in favour of merging with The Co-operative Financial Services.

  • Brits struggling with mortgages on Spain homes

    27 Apr 2009

    Brits who own Spanish holiday homes are struggling with the escalating cost of their Spanish mortgage payments.

  • Brown, building societies and the three-way split

    28 Apr 2009

    I loved the Council of Mortgage Lenders’ lunch in London last Friday. The numbers were down by half but it was none the worse for that.

  • Budget was unexciting

    29 Apr 2009

    The chancellor’s pronouncements in the Budget on the property sector can hardly be called exciting and indeed the extension of the Stamp Duty rebate until December 31 could never really have been in doubt.

  • Cattles requests share trading suspension

    27 Apr 2009

    Cattles last week requested that trading in its shares be suspended because it will be unable to publish results until it renegotiates its £635m credit line.

  • Cattles to close Welcome Finance

    28 Apr 2009

    The board of Cattles is proposing to close its direct distribution car retailer, Welcome Car Finance.

  • Chairman Beale knows the score

    1 May 2009

    Graham Beale, chief executive of Nationwide, is to be this year's chairman of the Building Societies Association which despite a recent spate of bailouts is not, he insists, about to become the Nationwide League

  • Change of name for M2000 mortgage club

    27 Apr 2009

    Exclusive Connections, which acquired M2000 mortgage club in February, will be renaming it Brilliant Mortgages from May 1.

  • Clarification

    1 May 2009

    In last month's issue we shortened Anglo Irish Bank to AIB which is in fact the acronym for Allied Irish Bank. Apologies for any confusion this might have caused.

  • Clydesdale and Yorkshire report £70m profit

    28 Apr 2009

    National Australia Bank says it still has no plans to sell its UK banking subsidiaries Clydesdale and Yorkshire Bank after reporting a £70m profit for the banks for the six months to 31 March 2009.

  • Confusing market signals

    1 May 2009

    Some indicators point towards a possible recovery in the mortgage market although LTVs remain stubbornly high, says Sally Laker, managing director of Mortgage Intelligence

  • Consumer compensation limits to increase from next January

    1 May 2009

    The Financial Services Authority is to increase the compensation limits payable to consumers in the event of insurance, investment and home finance advice businesses failing.

  • Consumers more receptive to cover

    27 Apr 2009

    Everyone keeps looking at the negative impacts of the recession on the economy, but what about the impact on the public?

  • Co-operative Bank sees 50% fall in repossessions

    27 Apr 2009

    Figures from The Co-operative Bank show the number of repossessions at the bank have halved over the past 12 months.

  • Countrywide looks to expand business team

    1 May 2009

    Countrywide is looking to recruit a business development manager for the Midlands.

  • Cut investment at your peril

    1 May 2009

    Investing in technology now will ensure lenders are in a position to benefit when the market recovers - and those that don't face dire consequences, says Neil Warman, finance and commercial director at HML

  • Damp squib

    27 Apr 2009

    There you have it, no more hiding from the obvious. Chancellor Alistair Darling has revealed the true extent of the country's debt and, to put it bluntly, we're in it up to our necks.

  • Debt firm takes on five more employees

    27 Apr 2009

    TCF Debt Solutions has recruited five members of staff for its business development, debt consultant and credit control divisions.

  • Demand from young renters could lead to growth in buy-to-let sector

    27 Apr 2009

    Economic guru David Miles has predicted that there is still scope for the buy-to-let market to expand due to a surge in demand from young consumers looking to rent.

  • Disappointing early findings of equity release mystery shop

    28 Apr 2009

    Which? is concerned that brokers are not covering the basics when advising on equity release, based on the early findings of a mystery shop it started in April.

  • Disgruntled mutuals get the chance to prove Moody's wrong

    1 May 2009

    Exact Mortgage Experts is offering societies the chance to prove that ratings agency Moody's is wrong.

  • Drive your business down the DA route

    27 Apr 2009

    Last week was a bad week for network members. First, we learnt that Network Data had had its permissions removed by the Financial Services Authority and that Bluefin is closing its Thinc network and passing members to Sesame, although it subsequently transpired that some of them would not be accepted.

  • Dunfermline's demise and déja-vu

    1 May 2009

    The demise of Dunfermline seems to have opened a particularly unpleasant can of worms for some in the mutual sector if the letter from Financial Services Authority chairman Lord Turner to chancellor Alistair Darling on April 17 is anything to go by.

  • eGateway teams up with Orbiter

    27 Apr 2009

    eGateway has signed a deal with Orbiter Distribution to offer its mortgage and secured loan sourcing system free to eGateway members.

  • eGateway teams up with Orbiter

    28 Apr 2009

    eGateway has signed a deal with Orbiter Distribution to offer its mortgage and secured loan sourcing system free to eGateway members.

  • Emergency Ward

    1 May 2009

    John Murray talks to Tony Ward, managing director of Home Funding, about the blueprint he recently submitted to government outlining proposals he believes could save the mortgage market

  • Exact offers to prove Moody's wrong

    28 Apr 2009

    Exact Mortgage Experts is offering societies the chance to prove Moody's wrong about their ratings.

  • Extension for secured loans commission offer

    27 Apr 2009

    Your Broker Network last week extended its 60% commission offer for secured loans until June 30 2009.

  • Former FSA bigwig spills the beans on HBOS rumours in TV exposé

    27 Apr 2009

    A former head of supervision at the Financial Services Authority has hit out at the regulator for making assurances last year that rumours of financial problems at HBOS were bogus.

  • FSA bans East London mortgage broker for fraud

    30 Apr 2009

    The Financial Services Authority has banned Tower Hamlets based mortgage adviser Zia Chowdhury for certifying client identities for fraudulent mortgage applications.

  • FSA introduces instalment plan for next year's fees

    28 Apr 2009

    The Financial Services Authority has re-negotiated a payment by installment plan to help firms pay their regulatory fees and levies for 2009/10.

  • FSA poised to take over retail banking regulation

    1 May 2009

    The Financial Services Authority will take control of retail banking regulation for deposit-taking and payment services in November.

  • FSA set to regulate retail banking conduct

    28 Apr 2009

    The Financial Services Authority is set to take over all retail banking conduct regulation for deposit taking and payment services in November 2009.

  • FSA to increase FSCS limit

    28 Apr 2009

    The Financial Services Authority is to increase the compensation limits for insurance, investment and home finance advice business in the event of a firm failing.

  • FTBs overlooked as market seeks out the green shoots of recovery

    27 Apr 2009

    Hometrack is warning that first-time buyers are being overlooked in the clamour to hunt out the green shoots of recovery.

  • Great rates from Woolwich if you manage to get them

    27 Apr 2009

    I was intrigued to read the recent article on Mortgage Strategy Online saying that Woolwich was set to cut its mortgage rates by up to 0.30%.

  • Gross mortgage lending up 16% but outlook remains weak

    27 Apr 2009

    Gross mortgage lending climbed 16% from £9.9bn in February to an estimated £11.5bn in March.

  • Guardian Financial Group launches Legal Issues

    28 Apr 2009

    The Guardian Financial Group has launched Legal Issues, a free online legal service offering brokers access to a select panel of lawyers.

  • Halifax deal helps first-time buyers meet Stamp Duty costs

    1 May 2009

    Halifax has launched a first-time buyer product designed to cover purchasers' Stamp Duty costs for properties valued between £175,000 and £250,000.

  • Halifax to pay FTB Stamp Duty costs

    27 Apr 2009

    Halifax is launching a first-time buyer product which is designed to cover the buyer's Stamp Duty costs for properties valued between £175,000 and £250,000.

  • Higher commercial lending limit for mutuals is laughable

    27 Apr 2009

    I was surprised to read that the Financial Services Authority could potentially increase the cap - currently 25% - on commercial lending for mutuals (Mortgage Strategy Online).

  • Hints of turf war between mutual industry bodies

    1 May 2009

    In this month's Lending Strategy interview Graham Beale, the incoming chairman of the Building Societies Association, says he doesn't think many societies resigned fromthe Council of Mortgage Lenders as a result of the BSA boosting its executive team to represent them when it comes to mortgage market issues.

  • House prices fall 0.4% in April

    30 Apr 2009

    House prices fell by 0.4% in April reversing some of the 0.9% rise seen in March, the latest data from Nationwide shows.

  • Industry left empty-handed

    27 Apr 2009

    The 2009 Budget held little for the mortgage market, other than a big fat £175bn IOU. Well, that's not entirely true - if things pick up in your finances you could now find yourself paying 50% tax.

  • Investment in technology will not be in vain

    27 Apr 2009

    In these straightened times, there is a huge temptation to make cutbacks wherever possible.

  • Ireland's Sir Fred bows to pressure and hands back 1bn bonus

    1 May 2009

    The man they have been calling Ireland's Sir Fred Goodwin has bowed to public and government pressure and agreed to hand back a 1m bonus from a building society that was saved by taxpayers.

  • It looks like the government is finally listening

    27 Apr 2009

    Last week's Budget saw an embattled chancellor come out fighting. Darling began with an adamant statement that he expected the economy to start growing again by the end of the year.

  • It was a shock to see Network Data's permissions axed

    27 Apr 2009

    I was shocked to read that Network Data had had its permissions cancelled last week (Mortgage Strategy Online).

  • Just 21% of broker-only deals are over 80% LTV

    27 Apr 2009

    Broker-only products available at over 80% LTV represent just 21% of the deals on offer across direct and broker channels, says Home Buyer Systems.

  • Keeping the Red (Bull) flag flying

    1 May 2009

    The Labour Party's proud and iconic red flag has been left in tatters after revelations that a proposed new website for the party would carry sleazy and unfounded personal stories about leading figures in other political parties dreamt up by Prime Minister Gordon Brown's now discredited director of strategy Damian McBride.

  • Key Retirement Solutions teams up with Home of Choice

    30 Apr 2009

    Key Retirement Solutions and Home of Choice have launched an equity release referral proposition.

  • L&E completes buyout from parent

    27 Apr 2009

    Christopher Taylor has completed a management buyout of London & European, purchasing the remaining 90% stake from the firm's former parent group April.

  • Large lenders ignore mortgage support scheme

    27 Apr 2009

    The government's Homeowner Mortgage Support Scheme received a lukewarm reception when it launched last week, with the noticeable absence of some large lenders.

  • LeadPoint to recommend minimum lead buy

    30 Apr 2009

    LeadPoint is now recommending that in order to hit advertised market conversion levels for different products that brokers buy a minimum volume of leads.

  • Lenders must grant 90% LTV if house prices are to go up

    27 Apr 2009

    Demand for property is not weak. Lenders are restricting the availability of funds, so purchasers are not able to obtain mortgages at reasonable interest rates for loans that are more than 75% LTV.

  • Lenders must rein in profit ambitions

    27 Apr 2009

    Although this week the country's eyes are very much on analysing the government's housing stimulation package and the chancellor's Budget measures, it's worth remembering that it's not only central fiscal policy that can lift the UK from its financial malaise.

  • Lenders trying to support you

    27 Apr 2009

    It's the deepest recession since World War II, unemployment continues to rise and house prices continue their slow decline. Finance remains restricted, decimating some areas of the mortgage market such as sub-prime, which the Association of Mortgage Intermediaries confirmed last week was "unlikely to recover in any serious way".

  • Let's hope 2010 will see a cleaner regime

    27 Apr 2009

    I feel sorry for chancellor Alistair Darling. His boss has made a right mess of the economy and he is taking most of the stick.

  • Lib Dems to put pay to loopholes

    27 Apr 2009

    The Liberal Democrats pledged a crack down on Stamp Duty loopholes as part of their pre-election campaign last week.

  • Lighthouse in the frame for Network Data ARs

    29 Apr 2009

    Appointed representatives with Network Data Limited have been offered a new contract with the Lighthouse Group.

  • Lighthouse transfer to include MBSL ARs

    30 Apr 2009

    Appointed representatives from Mortgage Broking Services Limited have been informed by Network Data Limited that they too will be transferred to the Lighthouse Group.

  • Lloyds group to slash almost 1,000 jobs

    27 Apr 2009

    Lloyds Banking Group revealed last week that it is to shed 985 jobs over the next two years, mainly in its asset and motor finance operations.

  • Loan Options moves into commercial and bridging

    28 Apr 2009

    Secured loans packager Loan Options is adding bridging and commercial finance to its portfolio.

  • Loan Options moves into commercial and bridging

    28 Apr 2009

    Secured loans packager Loan Options is adding bridging and commercial finance to its portfolio.

  • Long-term fixed deals make sense

    27 Apr 2009

    On March 25 I commented that it was time to fix and swap rates have subsequently bobbed up and down without moving far.

  • Long-term fixes are back in vogue

    27 Apr 2009

    Fixed rate products are now firmly back in favour as brokerage John Charcol saw applications for fixed deals in March surge to eight out of 10 new mortgages.

  • Make the most of your online pressence

    27 Apr 2009

    As the financial crisis deepens, it is crucial to maximise the efficiency of your business. Consumers are valuing advice more than ever and your firm's success will lie in your ability to continue building productive relationships.

  • Marketwatch 27/04/2007

    27 Apr 2009

    Swaps increased pretty sharply last week, more than reversing the falls of the previous week. Have we seen the bottom? Who knows.

  • Media Spotlight: Good to Great, Jim Collins

    27 Apr 2009

    Good to Great is the classic corporate self-help book for firms looking to turn themselves around from just an average firm to a market-leading one.

  • Minister picks knight to lead bank rescue mission

    1 May 2009

    A Bank of England veteran who is also a knight has been recruited by Irish finance minister Brian Lenihan to help find a professional who can rebuild confidence in the country's battered financial system.

  • Month-on-month bank lending weaker in March, says BBA

    1 May 2009

    Mortgage lending by banks this March was marginally weaker than in February, according to the British Bankers Association.

  • Mortgage Intelligence adds Assurant to GI panel

    30 Apr 2009

    Mortgage Intelligence has added Assurant Intermediary to its general insurance panel for both appointed representatives and directly authorised members.

  • Mortgage lending at Northern Rock reached £550m in Q1 2009

    1 May 2009

    Gross mortgage lending at nationalised lender Northern Rock totalled £550m in Q1 2009.

  • Mortgage Next offers car insurance service

    29 Apr 2009

    Mortgage Next is launching a car insurance service where brokers can earn up to 12.5% in referral fees for every policy sold.

  • Movers and Shakers

    1 May 2009

    Sir David Lees to take board role at the Bank of England

  • MPC unsure about how much money to invest

    27 Apr 2009

    Minutes of the MPC meeting in April revealed that it is still unsure how much it should invest in its quantitative easing programme.

  • MPPI frog could turn into clients' prince

    27 Apr 2009

    While brokers have had to face what has probably been the most challenging period of their trading lives over the past 12 months, spare a thought for accident, sickness and unemployment insurers.

  • Mutual bailout plan was on table for Dunfermline

    1 May 2009

    Lord Turner, chairman of the Financial Services Authority, has revealed that a capital injection from a consortium of building societies was one of the options for Dunfermline.

  • NACFB fraud body ready to take on first commercial broker case

    27 Apr 2009

    The National Association of Commercial Finance Brokers says it already has one commercial broker lined up to face its newly formed fraud committee.

  • Nationwide introduces new standard rate

    27 Apr 2009

    Customers taking out a mortgage after April 30 with Nationwide will no longer revert to its base mortgage rate when their deal expires, but will instead go on to the society’s new 3.99% standard mortgage rate.

  • Network Data in crisis talks with regulator

    27 Apr 2009

    Network Data says it is in crisis talks with the Financial Services Authority and other financial services firms to get its appointed representatives writing business again.

  • Network Data's finance director passes away

    30 Apr 2009

    Craig Sharp, group finance director and company secretary at Network Data, has died from a heart attack.

  • NR sees £550m gross lending in three months

    27 Apr 2009

    Gross mortgage lending at Northern Rock totalled £550m in the first three months of the year, but arrears increased from 2.92% to 3.67%.

  • OFT bans Croydon estate agent

    27 Apr 2009

    The Office of Fair Trading has issued a prohibition order banning a Croydon estate agent from estate agency work after she failed to disclose a personal interest in the sale of a property.

  • On a high

    27 Apr 2009

    Mole was tickled to hear how one building society reacted to the news that it was being downgraded in Moody's assault on the mutual sector recently.

  • Only one household helped by Mortgage Rescue Scheme

    1 May 2009

    Figures released by the government show only one household has been approved for its Mortgage Rescue Scheme since January.

  • Personal insolvencies leap by 22%

    1 May 2009

    Figures released by the Insolvency Service today show 30,253 people went into bankruptcy or entered into an Individual Voluntary Arrangement in the quarter ended 31 March 2009.

  • Peter Harrison becomes chairman of Saffron

    27 Apr 2009

    Saffron has appointed vice-chairman Peter Harrison as chairman. He replaces Richard Herbert who retired last week.

  • Pink launches broker deals with A&L

    27 Apr 2009

    Pink Home Loans has launched two fixed rate broker deals with Alliance & Leicester starting from 3.79%.

  • Politicians in row over HomeBuy sales figures

    27 Apr 2009

    Housing minister Margaret Beckett has denied the Opposition's claims that no properties have been sold through the government's HomeBuy Direct scheme.

  • Porn, politicians and regulators

    1 May 2009

    It seems improbable that the husband of the lovely Jacqui Smith, our home secretary, should have sought solace in her absence by watching adult movies, and equally incredible that the couple should have tried to have the cost met by the public purse.

  • Property shortage driving quick sales, says Cluttons

    29 Apr 2009

    A shortage of properties on the market in Central London is driving quick sales and some price stabilisation, reports estate agency Cluttons.

  • PruProtect expands income protection range

    29 Apr 2009

    PruProtect has launched two income protection products and has extended its life cover to those living with HIV.

  • PTFS remodels compliance for DA members

    27 Apr 2009

    Personal Touch Financial Services has revamped its directly authorised proposition to align it more closely with its network model.

  • Reality TV

    27 Apr 2009

    Mole hears that the BBC is to air a new drama in June based on the financial crisis. Titled Freefall, it views the sub-prime crisis through the eyes of borrowers, bankers and brokers, and charts how a decade of excess ended.

  • Repossessions fall 50% at Co-operative Bank

    28 Apr 2009

    Figures from The Co-operative Bank show the number of repossessions at the bank have halved over the past 12 months.

  • Retirement Plus forced to close doors to new lending

    27 Apr 2009

    A flood of applications caused home reversion provider Retirement Plus to suspend new lending last week.

  • Rich man's world

    27 Apr 2009

    It's good to know that in the economic turmoil it's not just us regular folk feeling the pinch.

  • Rising cover rates reflect higher risk

    27 Apr 2009

    Once again the protection sector has come under attack, this time from the self-appointed public guardians at Which?.

  • RPI inflation below 0% for first time since 1960

    27 Apr 2009

    For the first time since March 1960, annual inflation measured by the Retail Prices Index - which includes housing costs such as mortgage interest payments and Council Tax - fell below 0% to -0.4%. And the Consumer Prices Index fell to 2.9% in March, down from 3.2% in February.

  • Santander reports 25% increase in UK profits

    29 Apr 2009

    Pre-tax profits at Santander's UK arm rose by 25% to £372m for the first quarter of this year, with revenues up 24%.

  • Scheme not a quick fix

    27 Apr 2009

    Housing minister Margaret Beckett finally launched the government's long-awaited Homeowners Mortgage Support Scheme last Tuesday - nearly five months after it was first announced.

  • Scottish Widows Bank joins eMoneyfacts Savings Club

    30 Apr 2009

    Scottish Widows Bank has joined the eMoneyfacts Savings Club to give brokers a wider range of choice of savings products for their clients.

  • Six steps to credibility

    1 May 2009

    Plugging the gaps in Lord Turner's recent report could lead to measures that would restore consumers' trust in the lending sector, says Gary Styles, strategy, risk and economics director at Hometrack

  • Societies see sharp rise in mortgage approvals

    1 May 2009

    Mortgage approvals by societies in March were £1,542m compared to £742m in February.

  • Solicitors' body investigates claims firms for misleading advertising

    27 Apr 2009

    The Solicitors Regulation Authority is investigating 10 claims management firms for misleading consumers and has warned solicitors not to get involved with unscrupulous companies.

  • Some party

    27 Apr 2009

    But it's not all doom and gloom. Mole was pleased to hear that Alan Cleary, managing director of Exact, and Ian Lonergan, chief executive officer of Exact, partied in style to celebrate their own 40th birthdays.

  • Still no plans to sell Clydesdale and Yorkshire says parent

    28 Apr 2009

    National Australia Bank says it still has no plans to sell its UK banking subsidiaries Clydesdale and Yorkshire Bank after reporting a £70m profit for the banks for the six months to 31 March 2009. The banks did £1.9bn of new business and mortgage lending in the six months to 31 March 2009, the average gross loans and acceptances increase 9.5% to £33.5bn.

  • Submit strong cases for faster decisions

    27 Apr 2009

    In times of increased focus on risk criteria it is vital that when submitting applications to lenders that cases are presented in a favourable light.

  • Target to service loans for Blue Motor Finance

    28 Apr 2009

    Target Loan Servicing has won another significant contract to service loans for the Blue Motor Finance portfolio owned by Merrill Lynch.

  • Target wins Blue Motor Finance contract

    28 Apr 2009

    Target Loan Servicing has won another significant contract to service loans for the Blue Motor Finance portfolio owned by Merrill Lynch.

  • TBMC direct service is popular

    27 Apr 2009

    The Business Mortgage Company has signed up over 2,000 directly authorised brokers and five networks to its direct-to-lender proposition since it launched it in February.

  • Tenet launches apprenticeship scheme

    1 May 2009

    Leeds based adviser support group, Tenet, is working with the Financial Services Skills Council to help bring new blood into the industry via two apprenticeship programmes for both professional mortgage and investment advisers.

  • The financial services sector and the Frankenstein factor

    1 May 2009

    The spectre of Dr Frankenstein is hanging over the financial services sector - and I'm not thinking of Fred the Shred and his unfeasibly large pension here because his connection with the Gothic horror tradition falls more into the Dr Jekyll and Mr Hyde category.

  • The iron fist being applied to those on front line is wrong

    27 Apr 2009

    Imagine you go to bed knowing you have a business and wake up to find that your firm is now on the verge of going out of business because the Financial Services Authority and government have failed to monitor your principle effectively.

  • The month at a glance

    1 May 2009

    Last month was dominated by the Budget but before chancellor Alistair Darling unveiled that damp squib there quite a few notable events affecting the financial industry, including a certain international meeting in London

  • The Nationwide 'Real' House Price Index is up 0.6% in April

    30 Apr 2009

    The Nationwide 'Real' House Price Index shows prices up by 0.6% in April, after a rise of 2.2% in March, and this index records a fall of only 0.8% in the first 4 months of 2009.

  • The repossession crisis then and now

    27 Apr 2009

    During a recent conversation with a senior figure from a large lender, I outlined my analysis of where lenders went wrong in their handling of mortgage arrears in the last repossession crisis in the 1990s.

  • The shape of lending to come

    1 May 2009

    Lenders will have to be innovative in forging products that take account of the more flexible lifestyles of the borrowers of the future, says Neil Johnson, mortgage policy manager at the Building Societies Association

  • The view from Xit2

    29 Apr 2009

    One of the great benefits of having a wild-fire rage through forests is that it cleans out the dead wood and undergrowth. There is a lot of destruction that goes on, botanically speaking, in the fire.

  • There should be no doubt over Abbey's broker commitment

    27 Apr 2009

    I was disappointed to see Sue Read's article in the April 20 issue of Mortgage Strategy on Abbey for Intermediaries' attitude towards brokers as I feel she has not understood all that we are doing for them.

  • Three million Brits could be in negative equity

    1 May 2009

    The number of UK home owners in negative equity could be closer to three million than the 900,000 estimated by the Council of Mortgage Lenders, according to property forecaster Calnea Analytics.

  • Trigold and Crystal merger gets go-ahead

    1 May 2009

    Trigold and Crystal have been given the go-ahead by shareholders for the merger and have signed and completed the transaction.

  • Unemployment levels reach 2.1 million

    27 Apr 2009

    The National Statistics Office revealed last week that unemployment rose to 2.1 million.

  • Victorian values and fantasies

    1 May 2009

    Danger lurks in imagining that there was once a golden age for building societies and that they would benefit from tighter regulation or an FSA-instigated code of conduct, says Philip Tebbatt

  • Virtual Net cuts mortgage broker network prices

    30 Apr 2009

    Virtual Net, a technology based network for whole of market advisers has launched its mortgage network and reduced prices for mortgage only firms by 50%.

  • We can be high street heroes

    1 May 2009

    Headline-grabbing government initiatives to revive high streets will achieve little whereas lenders can play an important role, says Julien Holmes, managing director of Crown Mortgage Management

  • Why asbestos and knotweed can mean big business

    27 Apr 2009

    It was sad to hear that Guy's hospital had to close a few wards because it found asbestos in them.

  • Your Broker Network extends 60% commission offer

    28 Apr 2009

    Your Broker Network is extending its 60% commission offer for secured loans, until June 30 2009.

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