Mortgage Strategy
27 June 2005

  • 55% of consumers favour fixed rates, reveals Cartel

    28 Jun 2005

    Research out by national mortgage intermediary Cartel has revealed that a whopping 55% of borrowers favour fixed rate mortgages above all other mortgage products.

  • 56% Say recommend sub-prime deals without ERCs

    27 Jun 2005

    In Mortgage Strategy's latest straw poll 56% of respondents say they believe it is best advice to only recommend sub-prime products which do not have an early repayment charge where that option is available to the client.Of those who responded to the survey less than half, 44%, think it is acceptable for clients to be recommended products with ERCs if there are other options.This week's question asks: "Should the Association of Mortgage Intermediaries have a dedicated ...

  • A nightmare on retirement street

    27 Jun 2005

    Is equity release a dream come true or a nightmare on retirement street? The brochures are neat, the advertising compelling. You're old, grey and concerned about the next heating bill.

  • A View From The floor

    27 Jun 2005

    Mark Blackwell, director of marketing at The Derbyshire, says it is encouraging to see a more diverse range of people entering the property market for the first time

  • A&L launches two-year fix at 4.44%

    1 Jul 2005

    Alliance & Leicester has launched a range of mortgages, including a two-year fixed rate of 4.44%.

  • AIFA urges FSA to focus on failing areas

    30 Jun 2005

    AIFA has urged the Financial Services Authority to focus on areas of failure rather than create a new initiative.

  • Alternatives to higher lending charges

    27 Jun 2005

    Mention higher lending charges and you can be sure of a lively debate regardless of whether you are talking to a mortgage customer, intermediary or lender.

  • AMI must be its own boss again

    27 Jun 2005

    Chris Cummings' recent and sudden elevation to director-general of the Association of Independent Financial Advisers poses an interesting quandary.

  • AMI urges firms not to miss instalments deadline

    29 Jun 2005

    The Association of Mortgage Intermediaries has reminded members that they only have a limited time to apply if they wish to pay regulatory fees by instalments. The instalments scheme was negotiated by AMI and other trade bodies to help members spread the costs of FSA, FOS and FSCS levies.

  • Bananas Inc targets bankrupts

    28 Jun 2005

    National packager and branded lender Bananas Inc is targeting bankrupts, or those on the verge of bankruptcy, with a new product. Its Lifeline Remortgage Scheme clears all existing debts with creditors after an individual has been made bankrupt and then allows them to move forward and remortgage their property. The process starts with a solicitor being instructed to liaise with creditors and the appointed representatives charged with monitoring the bankrupt to agree settlement ...

  • Battle for self-cert business hots up

    27 Jun 2005

    The battle for self-cert business stepped up a gear last week after BM Solutions and The Mortgage Works launched some of the most competitive products the market has seen this year.

  • BDS appoints Mike Davies as head of compliance

    30 Jun 2005

    BDS Mortgages has appointed Mike Davies as head of compliance.

  • Be positive and your income will rise

    27 Jun 2005

    Talk to most mortgage brokers and they will tell you their income has taken a hit since M-Day. It is easy for the anti-Financial Services Authority brigade to point the finger and blame it for the decrease in income.

  • BMS could work with Genesis following MBO

    27 Jun 2005

    BM Solutions says it may do business with Genesis Home Loans now it is no longer owned by Mortgages PLC.The directors of Genesis last week revealed they have bought the entire shareholding in the mortgage network, packager and branded lender back from Mortgages PLC.BMS refused to do business with Genesis when it was bought by MPLC in February 2004 for at least 1.5m, but denied this had anything to do with the new ownership.Martin Reynolds, key account manager at BMS, says: ...

  • BMS offers Pink exclusives

    27 Jun 2005

    BM Solutions has launched a range of exclusive light, extra light and near prime trackers through Pink Home Loans.Products in the range include a near prime three-year tracker at 5.95, an extra light three-year tracker at 6.19% and a light three-year tracker at 6.39%. All come at 90% LTV with refunded valuation and 250 cashback. A sub-prime self-cert range is also available.The range offers a number of deals with no early repayment charges, which reflects the principles of fair ...

  • Brokers still value packagers

    27 Jun 2005

    Exclusive research by Alliance & Leicester for Mortgage Strategy reveals brokers feel there is still a role for packagers.The findings should come as reassurance for a sector seen by some to be under threat.A&L carried out online broker research which included the question: "Do you think there is a need for mortgage packagers?"Of those responding, 49.6% say yes, 38.9% say no, and 11.6% don't know. The view is similar for both directly authorised firms and appointed ...

  • Brown talks of cutting red tape

    27 Jun 2005

    Chancellor Gordon Brown spoke of the need to lessen the burden of regulation in a speech entitled Global Britain, Global Europe, last week.Brown told diners at the Lord Mayor's banquet in London that moving from the trade bloc era to the era of global Europe requires a long-term commitment to regulatory reform that balances the need to lessen the burden of regulation and enhance flexibility whilst ensuring high standards.Brown says: "In Britain I am determined that we not only ...

  • CETA adds notional household insurers to quotation system

    1 Jul 2005

    CETA has added a panel of notional household insurers to its general insurance quotation system.

  • CHL unveils B2L fixed deal

    27 Jun 2005

    Capital Home Loans has launched a market-leading 4.95% three-year buy-to-let fixed rate mortgage.The product, which is also available from CHL's Irish Permanent brand, is fixed until October 31 2008. At the end of the fixed rate period it reverts to Bank of England base rate plus 0.99% for the remaining term.The deal is available to individuals and limited companies, with student lets and houses divided into self- contained flats also permitted.The maximum loan size is 2m ...

  • Clients think advisers recommend best deals

    27 Jun 2005

    Intelligent Finance says borrowers who see a financial adviser before taking out a mortgage believe they have got the best possible deal.Research carried out for the lender by ICM shows 42% of all borrowers who felt they had secured a good deal, with the lowest monthly payments and total borrowing cost, had consulted a financial adviser.IF says that given these figures it is not surprising financial advisers are the single most important guide people use to help them choose ...

  • Conti launches 80% mortgage scheme for Cyprus

    28 Jun 2005

    Conti Financial Services is launching an 80% mortgage scheme up to a maximum term of 15 years in Southern Cyprus.

  • Cummings' promotion could diminish AMI

    27 Jun 2005

    Chris Cummings' promotion to director-general of the Association of Independent Financial Advisers could lead to the Association of Mortgage Intermediaries turning into a voiceless off-shoot.Now that Cummings has taken on the role of director-general at AIFA, industry pundits are worried the concerns and interests of the mortgage industry will be overshadowed by those of IFAs. Cummings took over the position following the departure of David Severn due to ...

  • Curriculum Vitae - Ali Crossley

    27 Jun 2005

    "I don't buy dinner it's bought for me, I wish"

  • Darlington implements Summit

    28 Jun 2005

    Darlington has completed a systems replacement project with the implementation of the final phase of AttentiV Systems' retail banking system, Summit. Summit manages the society's full mortgage application processing and post completion administration, together with all aspects of savings account administration.

  • Dear Delia

    27 Jun 2005

    Dear Delia A client is looking to buy a holiday home in Spain. To complete the purchase they will need a mortgage, but are uncomfortable about having a foreign currency mortgage and are concerned about high fees being added to the loan.

  • Derbyshire sees boom in buy-to-let lending

    27 Jun 2005

    The Derbyshire says the buy-to-let market is booming with its lending in this sector jumping by 45% over the past year.Of this, 60% is for new purchases and 40% for remortgages, showing investors are still entering the market.Tony Capon, head of intermediary support and development at The Derbyshire, says: "Confidence remains high in the buy-to-let market with little sign of a downturn despite what some pundits are saying. Fundamentally it's sound and amateur investors have ...

  • Don't vote for cavalier A&L in any awards this year

    27 Jun 2005

    From Jim Gillespie I empathise with Helen Pierson having read her letter on in the June 13 issue of Mortgage Strategy about Alliance & Leicester poaching her client. A&L is cavalier in its attitude to brokers and the public. I don't wish to sound like Bob Geldof in a rant, but I fail to see how any mortgage broker in their right mind could consider voting A&L all the accolades it seems to pick up year after year. This year let us kick it where it hurts. I urge all readers of ...

  • Education needed on APR

    27 Jun 2005

    GE Life has warned that IFAs and consumers need to be educated to focus on the APR of a lifetime mortgage and not just the headline rate.The equity release provider has just repriced its lifetime mortgage rates from 6.69% to 6.25% per year.However, a crucial difference between GE Life and its competitors is that it only has a single annual rate. There is no additional monthly rate.The aim of the single rate is to make the product as transparent and easy to understand as ...

  • Elephant Loans opens second regional office

    28 Jun 2005

    Elephant Loans is about to open its second regional branch office, this time in the north east of England.

  • em-financial extends business hours

    28 Jun 2005

    em-financial is extending its opening hours due to the increasing levels of business coming in to its Chester processing department.

  • Enterprise launches three-year capped deal

    27 Jun 2005

    Enterprise has launched a three- year capped rate mortgage funded by Kensington Mortgages.The product has a rate set at 0.05% above Kensington's current fixed rate deals.The launch follows joint research by Enterprise and Kensington among intermediaries to identify the ideal mortgage for the current climate.Brokers say their top priorities are a three-year mortgage with no extended tie-in period and a product that enables borrowers to budget easily.Keith Street, director ...

  • F&C reacts to MPC minutes

    27 Jun 2005

    Timing is everything. If Mervyn King had delivered his "calm down dear" speech just after the publication of the MPC minutes rather than just before, we'd be looking at a far different set of near term interest rate expectations in the UK market today.

  • Flurry of self-cert activity

    27 Jun 2005

    Intense competition among true self-cert lenders fuelled by mainstream players offering fast-track rates has led to a flurry of new deals coming onto the market.Just last week BM Solutions and The Mortgage Works both launched two-year fixed rates priced at 5.35% available up to 85% LTV.John Mawdsley, managing director of Merseyside-based The Mortgage Partnership, believes it's only a matter of time before even more lenders join the fray and prices are forced down further.He ...

  • Focus on specialist broking

    27 Jun 2005

    Median Insurance is strengthening its specialist brokerage division to meet increased demand from lenders looking for insurance related support.The company, which is a division of Lloyd's broker Monument UK, has seen a 30% rise in enquiries this year and expects interest to continue to grow.The division covers creditor payment protection, term life and other finance related insurance. It also develops niche product lines and offers bespoke insurance management solutions to the ...

  • Focus Solutions celebrates 10 years in business

    28 Jun 2005

    Focus Solutions Group has celebrated its 10th year in business following its profitability announcement made to the London Stock Exchange on June 14 2005.

  • Following the US route to integration

    27 Jun 2005

    As margins get tighter in the UK market the incentive is there to emulate the US and develop systems to provide an integrated end-to-end mortgage processing system, says Frank Eve

  • Freedom Lending increases procuration fees

    27 Jun 2005

    Freedom Lending is promoting an offer on its procuration fees this summer by giving away an additional 0.1% during the months of July and August.

  • Fresh slant on the housing debate

    27 Jun 2005

    A right leaning think tank has produced a refreshingly frank report on unaffordable housing that debunks some of the myths that surround the debate, says Rachel Blackmore

  • FSA publishes annual report

    29 Jun 2005

    The Financial Services Authority has published its annual report for the year 2004/05.

  • FSA says intermediaries have nowhere to hide

    27 Jun 2005

    The Financial Services Authority has stressed to Mortgage Strategy that brokers have nowhere to hide from the regulatory regime.Last week the regulator put the first three mortgage firms into enforcement and is in the process of gathering information from lenders on what business brokers are doing.Speaking exclusively to Mortgage Strategy, Andy Watson, FSA head of mortgages and credit unions, says: "Lenders will provide us with data on every single mortgage transaction ...

  • FSA takes carrot and stick approach

    27 Jun 2005

    While last week saw the FSA's first enforcement actions, the regulator tempered this with praise for the industry, showing it is keen to use the carrot as well as the stick, says Ben Stafford

  • Give brokers a break, Portman

    27 Jun 2005

    Peter Stokes Portman's web page for intermediaries states the lender is committed to offering an 'extensive' product range to intermediaries. In fact, it has precisely three products available to brokers. Come on Portman, give us a chance or we'll go elsewhere. Peter Stokes DirectorDavidson DeemPoole

  • GMAC RFC has record month

    1 Jul 2005

    GMAC-RFC has just experienced a record month of mortgage completions, and has seen Junes completions increase by more that 22% from this time last year.

  • GMAC says not using POSD system means losing out

    27 Jun 2005

    GMAC-RFC is urging intermediaries to embrace its point- of-sale decisioning system or risk losing out on a potential 35,000 per year.Speaking a year after the launch of the POSD system, GMAC-RFC sales director Godfrey Blight claims the company's research has found brokers are receiving incremental earnings they would not get using another system.By having more customers signing up on day one the research states an intermediary can earn about 6,000 per year, and a further 14,000 ...

  • GMAC-RFC launches sub-prime range

    30 Jun 2005

    GMAC-RFC says its new sub-prime range will send the competition running for cover.

  • Government equity share scheme is unfair and unworkable

    27 Jun 2005

    From Rick Gifford Most of the readers of this magazine have gone through the financial stress and tribulations of buying their first house. Was there anyone there to help them? In most cases the answer must surely be no. Bear in mind the gross incomes earned by some youngsters these days in real terms compared with, say, 25 years ago. They are better off by far. How many times a week could you afford to go out drinking and clubbing? At what age did you buy your first new car? And ...

  • Government plan slammed

    27 Jun 2005

    The Royal Institution of Chartered Surveyors has slammed the government's proposals on second homes for failing to provide a definition of what a second home is.The proposals could force people buying a second home to get permission for a change of use. This is intended to stop local people being priced out of the housing market.But RICS says there is no clear definition of a second home that would help demonstrate how this would affect people such as MPs, university students, ...

  • Have the lunatics finally taken over the FSA asylum?

    27 Jun 2005

    Name and address supplied I received the following response from the Financial Services Authority after I made an enquiry regarding client money. My initial response on reading this was to wonder if lunatics had taken over the FSA asylum. Client money is money of any currency which, in the course of carrying on mortgage mediation activity, an intermediary receives and holds on behalf of a client, either in a bank account or in the form of cash. Client money would include, ...

  • House price betting exchange launched by Betfair

    27 Jun 2005

    A revolutionary betting exchange based on UK house prices has been launched by betting exchange firm Betfair to allow UK home owners to hedge against house price falls.

  • Housing market steady in May

    30 Jun 2005

    Bank of England figures show the number of loans approved for house purchases in May 2005 at 96,000, little changed from the 95,000 seen in April.

  • ifs wins Lloyds TSB tender

    27 Jun 2005

    Lloyds TSB is to adopt ifs revised Certificate for Financial Advisers as the appropriate examination that aspiring financial advisers in its retail network will be expected to achieve.

  • Insight

    27 Jun 2005

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Kevin Paterson, sales director at Park Row Associates, takes a look at lender websites, working his way from A to Z

  • John Charcol appoints Legal & General for household and buy-to-let insurance

    30 Jun 2005

    Legal & Generals general insurance business has been chosen by John Charcol, independent mortgage broker, to be the sole-provider of household and buy-to-let insurance cover.

  • John Charcol in fee-free denial

    27 Jun 2005

    John Charcol has denied offering the clients of departed employees their next mortgage free.The clarification comes after a consultant who recently left John Charcol claimed the broker was sending letters to the client lists of departed employees offering to do their next mortgage with no client fee.While John Charcol says it has contacted clients who dealt with brokers who have left, these were primarily clients nearing the end of their deals who could be introduced to new ...

  • Kent defends outsourcing to India

    27 Jun 2005

    Kent Reliance has strongly defended its decision to outsource more mortgage business to India despite reports of an Indian call centre worker selling UK mortgage details on the black market.The Sun newspaper last week described how an undercover reporter was offered thousands of account and credit card details by Karan Bahree, an IT call centre worker in Delhi who charged just 3 for each person's details.Bahree's ex-employer Daksh does not disclose which companies it ...

  • Kent Reliance warns UK must embrace overseas outsourcing

    28 Jun 2005

    The chief executive of Kent Reliance, Mike Lazenby, has warned that the UK financial services industry is hanging on a "viability knife edge."

  • KMC to lend on unusual homes

    27 Jun 2005

    Kensington Mortgage Company is entering the non-standard construction type sector and lending on properties with a maximum LTV of 65%.It is lending on Wimpey No Fines and Laing Easiform houses as a tentative step into the area.Alison Hutchinson, managing director of Kensington, says: "The non-standard construction sector is one we have been monitoring for a while now."We are only going through two house builders and want to be confident the properties will resell in the ...

  • L&G chosen by John Charcol for GI cover

    30 Jun 2005

    Legal & General has been chosen by John Charcol to be the sole-provider of household and buy-to-let insurance cover.

  • Landlords buying student property are pushing up prices

    30 Jun 2005

    The June edition of the Paragon Mortgages buy-to-let index shows a significant rise in the prices landlords have been paying for their residential investments, as property values increased by 2.8% or 4,265 over the month.

  • Low income homeowners less likely to experience hardship than tenants

    28 Jun 2005

    Research into low income homeowners has been published by the Housing Research and Analysis Division of the Department for Work and Pensions. The research was commissioned following the finding of Burrows and Wilcox, that half the poor are homeowners.

  • m2i adds value to proposition

    29 Jun 2005

    m2i is to further enhance its proposition by securing a partnership with HMC funding and British Overseas Mortgages.

  • Market Watch

    27 Jun 2005

    Swaps hovered around previous levels at the start of last week, then plunged on Wednesday. As a result I predict we will see some lenders reduce fixed rates this week.

  • Mortgage Next boosts API rates on narrow panel offering

    29 Jun 2005

    Mortgage Next has revealed significant increases in API rates via insurers included on the Premier Protection narrow panel.

  • Mortgage Next launches self-cert and buy-to-let exclusives

    29 Jun 2005

    Mortgage Next has launched two exclusive products funded by Freedom Lending.

  • Mortgage Strategy launches Technology Service Awards

    27 Jun 2005

    Mortgage Strategy and Frank Eve Consulting last week launched the 2005 Benchmark Study on Lenders' Intermediary Technology and the Mortgage Strategy Technology Service Awards 2005.This is the fourth annual study of how UK mortgage lenders use internet technology to automate their intermediary lending channel.The Benchmark Study is the only survey in the UK that analyses how lenders and intermediaries use internet technology to speed up the lending process.It ...

  • Mortgage Talk appoints head of sales

    28 Jun 2005

    Mortgage Talk has appointed Michelle Brook as its head of sales.

  • Mortgage Trust boosts MT Select range

    27 Jun 2005

    Mortgage Trust has boosted its MT Select range with the addition of two fixed buy-to-let products.

  • Mortgage Trust Select rates available through TBMC

    1 Jul 2005

    The Business Mortgage Company has revealed that Mortgage Trust Select fixed rate products can be accessed through TBMC.

  • MTE For All campaign victory

    27 Jun 2005

    Mortgage Strategy's campaign for a true open trading platform has scored a victory with the announcement that the Mortgage Trading Exchange is to be made available to all intermediaries.The MTE is describing this as a major boost to the mortgage market, saying it is the first and only common trading platform to be accessible to all intermediaries.And the move comes just a fortnight after MS launched its MTE For All campaign, demonstrating the power of the industry's ...

  • Nationwide's 10-year fixed rate proves popular

    27 Jun 2005

    Nationwide has confirmed that its 10-year fixed rate mortgage is proving popular with borrowers.

  • Network Data unveils second series of AR workshops

    30 Jun 2005

    Network Data has released full details of its second series of appointed representative workshops that will run across the country from July to September 2005.

  • Newcastle wins IT software compliance accolade

    1 Jul 2005

    Newcastle has achieved one of the highest accolades for IT software compliance. Gaining the Platinum Award of registration to the nationally-recognised FAST Standard for Software Compliance involved a rigorous series of tests and auditing over three consecutive years. The FAST programme is broken down into four stages, bronze, silver and gold, with platinum as the highest level of excellence in software management, demonstrating that the organisation has achieved registration ...

  • Northern seaside house prices rise

    27 Jun 2005

    Britain's northern seaside resorts are undergoing a revival that is fuelling the local housing market.Research by the Property Investor and Homebuyer Show North, based on Land Registry figures, reveals house price growth in resorts such as Bridlington and Scarborough almost double that of some southern towns over the past five years.On average, northern resorts have seen price growth of 112.83% since 2000, while in southern towns prices have risen by an average of 99.89%.Nick ...

  • OFT takes action against Nottingham estate agent

    30 Jun 2005

    The Office of Fair Trading has decided to ban Nottingham estate agent Parminder Johal from engaging in estate agency work.

  • Paragon launches discounted fee saver product

    1 Jul 2005

    Paragon Mortgages has launched a discounted fee saver product aimed at landlords wishing to save money or release equity by remortgaging their buy-to-let properties.

  • Paragon launches five-year fix at 5.25%

    28 Jun 2005

    Buy-to-let mortgage provider Paragon Mortgages has launched a five-year rate fixed at 5.25%.

  • Pension term assurance could pay off

    27 Jun 2005

    Pension term assurance is due to reappear on the agenda as a result of pension simplification which comes into force on April 6 2006.

  • Period piece that sheds little light

    27 Jun 2005

    I bought Confessions of an Advertising Man on the spur of the moment, hoping it would give me some new insights into the mysteries of advertising.

  • Pink Home Loans links up with Trigold

    29 Jun 2005

    Pink Home Loans has added the Trigold sourcing system to its proposition for appointed representatives and directly authorised intermediaries.

  • PMI Europe launches foreign language websites

    1 Jul 2005

    PMI Mortgage Insurance Company has launched its Spanish and French language websites to support its programme of European expansion.

  • Portman integrates Officeweb with The Exchange's Exweb

    30 Jun 2005

    Portman has chosen to integrate Officeweb, The Exchanges business administration system for the intermediary market, with the Exweb portal and point-of-sale software from N4 to form a straight through processing platform for its advisers.

  • Probe finds buy-to-let lending robust

    27 Jun 2005

    An investigation by the Council of Mortgage Lenders into the interaction between property investment clubs and the buy-to-let sector has found lenders have rigorous procedures in place to ensure lending is robust.The investigation came in the wake of the DTI's action to close several property investment clubs and subsequent calls for further regulation.PICs typically operate by encouraging potential investors to pay large sums as subscriptions for access to new-build or off-plan ...

  • RCH Communications offers corporate beer opportunity

    28 Jun 2005

    RCH Communications is to offer firms the chance to design, name and brand their own beer.

  • Received your annual FSA invoice?

    27 Jun 2005

    Paying for FSA regulation costs five times as much as the previous voluntary regime and the instalment payment concession is not all it's cracked up to be either, says Richard Griffiths

  • Revise for your visit from the FSA

    27 Jun 2005

    You can't pass a test without doing your revision so firms expecting a grilling from the FSA should make sure they have all the facts and figures at their fingertips, says Bill Warren

  • Rush for student properties pushes up property values

    1 Jul 2005

    The Paragon Mortgages buy-to-let index for June shows a rise in the prices landlords have been paying for their residential investments, as property values increased by 2.8% over the month.

  • Select & Protect unveils Intego

    29 Jun 2005

    Select & Protect has launched Intego, a MPPI product offering.Intego, available from August 2005 and underwritten by Norwich Union, is an age-banded product and will be the first of its kind in the market.The product enables S&P's intermediary partners to provide valuable and appropriate mortgage payment protection to their customers with a much fairer deal based upon their age.

  • Should the buy-to-let sector be regulated by the financial services authority?

    27 Jun 2005

    Regulation of buy-to-let will boost the sector's reputation or is unnecessary, depending on your point of view. Our experts take opposing positions.

  • SMS launches new product portfolio under Trafalgar brand

    30 Jun 2005

    Solent Mortgage services, the Fareham based branded mortgage arranger, has launched a new product portfolio for its Trafalgar branded lending partnership with Preferred.Ian Balfour, sales and marketing director at SMS, says: "The new products are a consequence of feedback from brokers and address many areas which they had flagged.

  • Specialist lenders won't lose out, says society

    27 Jun 2005

    The Derbyshire has played down fears specialist sub-prime lenders may be pushed out of the market by building societies entering the sector.Norwich and Peterborough, Stroud & Swindon and The Derbyshire have all recently entered the sub-prime market. But Mark Blackwell, marketing director at The Derbyshire, says it is still early days and societies entering into the market will have little impact on other specialist lenders.He says: "It depends on the area borrowers go into and ...

  • Stamp Duty changes fail to boost FTB confidence

    27 Jun 2005

    Despite the increase in the Stamp Duty threshold, confidence among first-time buyers is not improving, reveals Abbey.

  • Stay focussed on quality of service

    27 Jun 2005

    A debate is raging in the field of equity release regarding advisers charging fees to customers. One view is that it is acceptable to charge customers a fee, though the level is a matter of further debate.

  • Straw Poll Results

    27 Jun 2005

    Q:Would it be best advice to only recommend sub-prime products which do not have an ERC where that option is available to the client?

  • Surge in savings assists strong growth for Scarborough

    28 Jun 2005

    Scarborough has revealed strong results across all areas of the business for the full year ended April 30 2005. Group total assets are up 12% to a record 1.6bn and the group's pre-tax profits are up 8.5% to 5.1m.

  • TFC and First National in branded link

    27 Jun 2005

    Packager TFC Homeloans and GE subsidiary First National have entered into a branded lending partnership.The development continues First National's programme of branded lending partnerships and follows a similar arrangement with The Mortgage Times announced earlier this month.As part of the arrangement, a First National underwriter has been deployed onsite at TFC Homeloans. Through the relationship First National will be able to offer products tailored to meet the requirements ...

  • TFC Homeloans and First National team up

    27 Jun 2005

    TFC Homeloans and First National have unveiled a branded lending partnership.

  • The Mortgage Mole

    27 Jun 2005

    BAR ONE The latest celebrity update from deputy editor Gallagher comes from a day out at the Legends Tennis tournament at Mottram Hall, Cheshire, courtesy of those nice folk at Amber Homeloans. Two of the big names from yesteryear playing were Henri Leconte and Mats Wilander which got Strategy's stalker off to a flying start. Luckily for Leconte, Gallagher was in a taxi by the time he hit the bar - shouldn't that be the other way round? Ed.US AID Skipton recently ...

  • The Mortgage Times reveals Kensington benefits

    28 Jun 2005

    The Mortgage Times Group has revealed extra client benefits for packaged Kensington Mortgage applicants, which are only available to its members.

  • The Mortgage Times unveils Classic Home Loans promotion

    28 Jun 2005

    The Mortgage Times Group has unveiled a Classic Home Loans promotion.

  • The saying 'too good to be true' was not invented for nothing

    30 Jun 2005

    Over the past few years hedge funds have gained acceptance to the point where not only are they included in growing numbers of portfolios, they are almost considered an asset class in their own right.

  • Tie-up paves way for SIPPs service

    27 Jun 2005

    John Charcol will refer investment and pensions business to IFA Hargreaves Lansdown and receive its mortgage referrals in return in a strategic alliance formed last week.As well as the benefits to clients on a day-to-day basis, both firms believe the alliance will tie in with the upcoming A-Day changes. From April 6 2006 residential property can be placed within self invested personal pensions, but brokers with John Charcol are not authorised to advise on SIPPs.Hargreaves Lansdown ...

  • UCB Home Loans increases buy-to-let LTV to 85%

    28 Jun 2005

    UCB Home Loans, the specialist lender of Nationwide, is to increase its mortgage LTV limits and maximum loan sizes on July 4.

  • Valuing brokers' independent spirit

    27 Jun 2005

    An independent outlook is important to the small businesses that form most of the industry and networks must be aware of this when designing their business models, says Brad Baker

  • View from above

    27 Jun 2005

    As the regulator starts to weed out the few bad apples, the industry is seen as broadly compliant, says the FSA's head of mortgages Andy Watson, talking exclusively to Rosemary GallagherAs the regulator starts to weed out the few bad apples, the industry is seen as broadly compliant, says the FSA's head of mortgages Andy Watson, talking exclusively to Rosemary Gallagher

  • West Brom offers immediate DIPs through online facility

    28 Jun 2005

    West Bromwich's intermediary arm is to offer broker partners an efficient service with an online facility that gives brokers an immediate Decision in Principle.

  • West Bromwich looses court appeal battle

    1 Jul 2005

    West Bromwich has lost its appeal against Lynne and Mark Wilkinson, over section 20 of the Limitation Act 1980 in the House of Lords.

  • Woolwich says 18.5% is spent on mortgages

    27 Jun 2005

    The Woolwich last week launched its first monthly mortgage affordability research revealing the proportion of household income spent on monthly mortgage payments increased to 18.5% from 18.3% in April.The lender believes this is the first real measure of affordability available across England and Wales because it is based on the ratio between earnings and mortgage payments of 1.3 million home owners.Though affordability has decreased in the past month compared with data from ...

  • Would Stamp Duty rebate boost energy efficiency?

    27 Jun 2005

    The Environmental Audit Committee has expressed concern over unsustainable levels of carbon emissions from residential housing and has called on the government to take remedial action.A Stamp Duty rebate for homes that achieve set energy efficiency standards has been proposed and backed by 227 MPs signing an Early Day Motion in parliament.The Energy White Paper describes energy efficiency as the cheapest, cleanest way of achieving energy policy objectives and many believe incentivising ...

  • Wow! Mortgages closes its doors to new business

    30 Jun 2005

    Wow! Mortgages, the direct to consumer operation run jointly by Mortgages PLC and mortgageforce, has closed its doors to new business.

  • YES Loans & Mortgages doubles turnover

    29 Jun 2005

    YES Loans & Mortgages has revealed that turnover has doubled for the third successive year, while pre-tax profits have also peaked. The company, a provider of secured loans mainly in the consolidation and home improvements sector, saw turnover for the 12 months to June 2005 surpass 3m.

  • Yorkshire reduces fixed rates

    1 Jul 2005

    Yorkshire has reviewed and reduced its whole mortgage range, which now includes a 10-year fixed rate at just 4.74%.

  • Yorkshire to give 50,000 to charity

    27 Jun 2005

    Yorkshire's Charitable Foundation is looking for lots of local good causes to share in its annual charity giveaway from July 1.

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