Mortgage Strategy
27 March 2006

  • 58% Of brokers favour traditional B2L deals

    27 Mar 2006

    Over half of Mortgage Strategy Online readers give the thumbs down to the idea of variable rental cover with higher upfront fees being the future of buy-to-let. Just 41% thought they would be, with the majority favouring the traditional approach.This week Mortgage Strategy asks: Should Gordon Brown have scrapped Stamp Duty for first-time buyers?

  • A fresh definition of mortgage products

    27 Mar 2006

    How do you define a mortgage product?

  • A&L reported to have rejected 5.8bn takeover bid.

    28 Mar 2006

    Reports in The Times newspaper today claim that Alliance & Leicester has rejected a 5.8bn takeover bid from French lender Credit Agricole.

  • AIFA welcomes FSA's fee installment plan

    29 Mar 2006

    The Association of Independent Financial Advisers says its members would gain significant benefits from the continuation and improved terms of the installments plan for regulatory fees, as announced by the Financial Services Authority. In 2005, AIFA persuaded the FSA to allow firms to pay its regulatory fees by instalments and a scheme was set up with Premium Credit. The FSA has now announced that the industry working group (of which AIFA is a member) set up to review the current ...

  • Ambulance chasers will kill off SPASU

    27 Mar 2006

    I've been reading the letters pages of this magazine for a few months now and I'm amazed at some of the arguments put forward there.

  • Are plummeting proc fees and lower margins from lenders now a fact of life for packagers?

    27 Mar 2006

    Fresh product and service ideas along with technological innovation will help packagers survive this period of pressure, say our experts

  • BDS launches World Cup promotion

    29 Mar 2006

    BDS has launched a football promotion to coincide with the World Cup this summer.

  • Be better at marketing than non-compliant advertisers

    27 Mar 2006

    From Julian Wells I was interested to read Rob Walker's letter about sub-prime mortgage advertising in the March 13 issue, as I'm sure many other readers were. The solution to the issue of non-compliant adverts is not to stop advertising but to produce compliant ads that are more effective from a marketing perspective. This is the best method within a mortgage firm's own control of driving out non-compliant adverts. Much has been said about financial promotions over ...

  • Big lenders are desperate to get business at any cost

    27 Mar 2006

    From Jamie Harris I am getting frustrated at the way the big banks openly ignore FSA regulations and seemingly get away with murder. Two cases come to mind, both within the past two weeks. Client number one, aged 72 and recently widowed, goes into her local branch of Halifax and says she wants to pay off a large chunk of her outstanding mortgage. She is immediately referred to the Halifax financial adviser. The adviser arranges for her savings account (about 4,000) to ...

  • BM Solutions launches B2L and self-cert deals

    27 Mar 2006

    BM Solutions has launched a range of buy-to-let and self-cert products.Rates in the buy-to-let range include a 5.19% two-year fix at 85% LTV and a 4.49% two-year tracker remortgage deal at 85% LTV with a refund of valuation and a free remortgage service.In the self-cert range products include a two-year fixed rate at 4.99%, available at up to 85% LTV. There is also a two-year fix available at 90% LTV at 5.39%.Tim Hague, director of BM Solutions, says: "These products show ...

  • BM Solutions to launch credit repair range on Monday

    30 Mar 2006

    BM Solutions is set to launch on Monday a range of credit repair products that are exclusive to its existing sub-prime client base.

  • Brown lets us down

    27 Mar 2006

    There was little beyond token gestures for the housing market in Gordon Brown's 10th Budget, Natalie Martin and Barney McCarthy analyse a speech full of missed opportunities.There was little beyond token gestures for the housing market in Gordon Brown's 10th Budget, Natalie Martin and Barney McCarthy analyse a speech full of missed opportunities.

  • Bulgaria top of Assetz B2L hot spots list

    27 Mar 2006

    Bulgaria has stormed past Cyprus in the first quarter of 2006 to the top of property investment specialists Assetz's table of buy-to-let hot spots.

  • Buy-to-let prospects looking positive

    28 Mar 2006

    New data points to a strong residential property investment market in 2006 and beyond says Paragon Mortgages. Recent data released by the Council of Mortgage Lenders, Royal Institute of Chartered Surveyors and the Office of the Deputy Prime Minister all point to a positive future for residential property investment says Paragon Mortgages.

  • C2 launches first lender webcast

    27 Mar 2006

    Packager c2 financial has launched the first of a series of six-minute lender webcasts on its website.The film features John Prust, sales director of Southern Pacific Mortgages Limited, talking about the advantages of using packagers as well as the benefits of the SPML range.The aim of the films is to give brokers an insight into the ways lenders on c2's panel think.Upcoming webcasts include interviews with Alison Beech, sales and marketing director at Rooftop, David Newman, ...

  • CETA slams HIPs

    27 Mar 2006

    The introduction of compulsory Home Information Packs for house sellers next year is like regulating fishing and putting the sharks in charge says David Quick, managing director of Central Electronic Trading Agency.

  • Chelsea to launch commercial arm

    27 Mar 2006

    Chelsea is to launch a commercial lending venture headed by Trevor Brown, previously of Cheshire.Brown has taken on the role of head of commercial lending and is planning the society's launch into the sector, due sometime this year.However, it has been revealed that his former employer is investigating a commercial loan that went wrong after it lent 10m on a property that was subsequently revealed to be worth only 2m.In the society's annual results statement Tom Marshall, ...

  • CI must change along with medical advances

    27 Mar 2006

    The past two weeks have seen important breakthroughs in the medical world.

  • Clarification on mutuality research

    27 Mar 2006

    Last week Mortgage Strategy attributed research criticising the cost of mutuality to Perspecta. In fact the research was wholly conducted by moneysupermarket.com. Perspecta's own research shows the exact opposite, with societies often more successful than banks in retaining existing mortgage borrowers, but that this has been at a significant cost to margin.

  • Clients still need help from advisers

    27 Mar 2006

    After over a year of regulation most consumers still lack confidence when it comes to picking the right mortgage, and this presents an opportunity for intermediaries, says Bill Warren

  • CML welcomes FSA financial education programme

    28 Mar 2006

    The Council of Mortgage Lenders has welcomed the Financial Services Authority seven point programme to raise awareness of financial capability in schools, colleges and universities over the next five years.

  • Commentators should get their facts straight on HIPs

    27 Mar 2006

    From Brian J Marson The article by Drew Wotherspoon in Mortgage Strategy March 6 on Home Information Packs uses statistics and statements that are inaccurate, selective or just plain wrong. Constant misrepresentation, often to protect self-interest, causes confusion and uncertainty when in fact the HIPs process should be encouraged and supported as being in consumers' best interest. Take the example of Kirsty Allsopp, presenter of Channel 4's Location, location, location, ...

  • Compliance training event for supervisors launched

    29 Mar 2006

    The Society of Mortgage Professionals is launching a two-day training event to provide mortgage supervisors with the essential skills to achieve compliance and a better experience for customers. Supervisors will learn how to coach their advisers to properly explain the benefits of information about the firm contained in the Initial Disclosure Document and ensure understanding of the key information about the mortgage being recommended. The skills required by supervisors ...

  • Conservatives "mad" to scrap HIPs, says AHIPP

    27 Mar 2006

    The Association of Home Information Pack Providers has responded to David Camerons pledge that he would axe Home Information Packs if the Conservatives got into power at the next general.

  • Counselling firm launched to help borrowers and lenders

    27 Mar 2006

    Debt recovery expert Close Credit Management has launched a service for mortgage lenders struggling to recover cash from borrowers who can't meet their repayments.Close Assistance Mortgage Counselling sends agents to visit borrowers who have fallen into arrears to help establish their commitment to pay and identify potential problems early.It will also carry out pre-eviction visits on lenders' behalf and collect contact details so lenders can forward information regarding outstanding ...

  • Curriculum Vitae - Lilian Starkie

    27 Mar 2006

    "The acetete was a mass of fingerprints"

  • Dear Delia

    27 Mar 2006

    Dear Delia David Stephens is 35 years old and is looking to purchase his first buy-to-let property as part of his retirement planning. Being self-employed, David is worried that he might not be able to secure a buy-to-let mortgage through self-certification. What are the options available to him?

  • e.surv celebrates 10th birthday

    27 Mar 2006

    Personnel from e.surv Chartered Surveyors celebrated the firm's 10th birthday with head office staff at Kettering last week.

  • e.surv defends its valuation system

    27 Mar 2006

    e.surv has hit back at claims it deliberately undervalues properties that are subject to free valuations from lenders such as Kensington Mortgages.A broker wrote to Mortgage Strategy regarding five valuations he recently instructed with Kensington Mortgages via e.surv. Of the five, two were downvalued from his original estimates by £3,000 each and another two by a total of £30,000.When the broker, who asked to remain nameless, spoke to the surveyor to find out the reason ...

  • e.surv downvalued several properties by up to 30,000

    27 Mar 2006

    Name and address supplied I always thought free valuations were a way for lenders to attract new business. I have recently instructed at least five valuations with Kensington via e.surv. Of these, two were downvalued by 3,000 and two were downvalued by 30,000 - yes 30,000. I took time out from my busy day to speak to the valuers and ask why this was. On both occasions they said they will only put a value on something that either they themselves or their colleagues have valued ...

  • E2M offers TMA members April 10% discount

    27 Mar 2006

    Easier2Move, the online conveyancer, is offering The Mortgage Alliance members a 10% discount off the price of all conveyancing instructions received in April.

  • Easier access to commercial deals

    27 Mar 2006

    Obtaining commercial finance is usually seen as a tricky business but intermediaries can now access this growing market by using commercial packagers, says Payam Azadi

  • E-business viewed as complication, says Assureweb

    29 Mar 2006

    One in five advisers still review e-business as just another complication in the running of their businesses, reveals research from intermediary portal Assureweb.

  • E-commerce can improve efficiency

    27 Mar 2006

    How do you convince clients you can find products best suited to their needs while making the broking process as efficient as possible? E-commerce is part of the answer says Frank Eve

  • em - appoints underwriter

    27 Mar 2006

    em- has appointed an new member of staff in its Chester underwriting office.Becca Falvey joins as and underwriter and brings with her a wealth of experience.Roger Morris, managing director of em-, says: "We are enjoying monthly increases in business volumes thanks to our em-homeloans free valuations, no application fee offer on all sub-prime ranges."

  • Em- adds to panel to extend sub-prime offer

    27 Mar 2006

    Packager em- has extended its offer of free valuations and no application fees on its sub-prime range with the appointment of Victoria Mort- gages to the em-homeloans branded lending panel.Simon Mouncher, operations director at em-, says: "Unlike others we don't cherry pick products to assign offers to. This offer applies across our sub-prime range. Victoria joins lenders on our panel including GMAC-RFC, Beacon Homeloans, First National, Kensington Mortgages, Mortgages PLC, Platform, ...

  • EXCLUSIVE: Grenville rules out Rightmove job

    28 Mar 2006

    Grenville Turner, former head of intermediary business at HBOS, has told Mortgage Strategy he is not in the running to be the new chairman of estate agency website Rightmove, but refused to comment on whether a job at Countrywide was in the offing.

  • EXCLUSIVE: Unity Homeloans to enter buy-to-let market

    27 Mar 2006

    Unity Homeloans, the Investec funded lender set up exclusively for members of the Professional Mortgage Packagers Alliance, is to launch a range of buy-to-let products in April.

  • Factsheet prepares firms for FSA visits

    27 Mar 2006

    Brokers and IFAs expecting a visit from the Financial Services Authority can prepare for the event using a factsheet published by the Association of Mortgage Intermediaries.The guide targets small firms and outlines the regulator's approach to supervision and what preparations firms can make before their visit.It also provides information on how the regulator selects firms and what they can expect if it decides to drop by.The visit process from notification to feedback is ...

  • Flexible reversion enquiries rocket by 300% at Bridgewater

    28 Mar 2006

    Bridgewater Equity Release says enquiries from IFAs has increased by 300% since launching its flexible reversion plan last September.

  • FMO adds The Insurance Surgery to its panel

    28 Mar 2006

    First Mortgage Options, the mortgage distribution and support services group, has added The Insurance Surgery to its pure protection and general insurance panel to offer IFAs and mortgage brokers access to products for unusual risk clients.

  • Fresh self-cert allegation

    27 Mar 2006

    Secured loan firm Portfield Finance is investigating claims that one of its employees asked a customer to lie on their self-cert mortgage application.The Yorkshire-based company says it is looking into allegations that a member of staff asked a woman to exaggerate her income and lie about her job to gain a mortgage.Nigel Pamment, senior mortgage consultant at Inspirational Financial Management, says one of his customers cancelled her application with Portfield after receiving ...

  • FSA improves application pack

    27 Mar 2006

    The Financial Services Authority has improved its application process so that mortgage, general insurance and investment firms can now build their own application pack tailored to their type of business.

  • FSA launches programme to improve financial education of 18 to 40 year olds

    28 Mar 2006

    The Financial Services Authority has today launched a programme to improve the financial skills of 18 to 40 year olds in the UK.

  • FSA plans to overhaul FSCS following funding criticism

    27 Mar 2006

    The Financial Services Authority is proposing an overhaul of the Financial Services Compensation Scheme following criticisms of the current funding arrangements.Chris Cummings, director general of the Association of Independent Financial Advisers, slams the current system as unsustainable and unfair.He says: "The smallest firms - our members - are being asked to pay the lion's share of the funding for the scheme."This year, the fee block into which most IFAs fall will be ...

  • Future launches buy-to-let range

    27 Mar 2006

    Future Mortgages is launching into the buy-to-let market with a range of products available from March 28 2006.

  • GE appoints two national account managers

    29 Mar 2006

    GE Money Home Lending has made two appointments to its second mortgage sales force.

  • GHL switches to local rate telephone system

    28 Mar 2006

    Guaranteed and Genesis Home Loans have introduced a new telephone system that customers make a saving on when telephoning the companys Peterborough and Maidstone offices.

  • Gilles Avenel appointed chairman of L&E

    27 Mar 2006

    Gilles Avenel has been appointed chairman of London & European Title Insurance. Avenel was appointed as a non-executive to L&E's board in October 2005 and brings over 30 years experience of the banking and insurance industry, the last 10 of which have been spent in executive and non-executive board roles. He says: I am honoured and delighted to accept the role of chairman of London & European. It is an exciting and growing business with an excellent business proposition ...

  • Give first-timers a break in buy-to-let

    27 Mar 2006

    The boom in the buy-to-let market that has been seen over recent years can in no small measure be attributed to first-time buyers' lack of purchasing power.

  • GMAC-RFC announces portfolio sale to Dunfermline worth 240m

    29 Mar 2006

    GMAC-RFC has announced its tenth portfolio sale of the year to Dunfermline.

  • GMAC-RFC completes portfolio sale to West Brom Mortgage Company

    31 Mar 2006

    GMAC-RFC has completed its eighth portfolio sale to West Bromwich Mortgage Company.

  • Government must aim for a transparent market

    29 Mar 2006

    Reflecting on Gordon Brown's 10th and probably last Budget before he makes a play for the Prime Minister’s role, one question I have is would George Osborne, shadow chancellor, have done anything different? Following the criticism Brown has received, Osborne would no doubt say “Yes, of course it would be different”, but of most interest to me and most mortgage intermediaries is; would he have addressed the issues facing the first-time buyer market?

  • Government to pledge more homes and help for FTBS this week

    27 Mar 2006

    Housing minister Yvette Cooper will unveil more help for first-time buyers alongside plans to deliver more homes this week.

  • Guarded welcome for REIT plan

    27 Mar 2006

    The industry has welcomed Gordon Brown's decision to put real estate investment legislation in place, but feels more can be done.

  • Help me understand equity valuations

    27 Mar 2006

    Mortgage Strategy readers can help clear up some questions about certain mysterious practices that seem to surround equity release valuations, says Sue Read

  • Heritable Bank increases loan size for buy-to-let and self-cert

    31 Mar 2006

    Heritable Bank has increased the maximum loan offered on its range of buy-to-let and self-cert mortgages.

  • HIPs decision could double fraud among estate agents

    27 Mar 2006

    Fraud and corruption among estate agents could double, the former head of the National Association of Estate Agents has warned, after being told by the Office of the Deputy Prime Minister that it will offer no training to estate agents to sell Home Information Packs.Trevor Kent, former president of the NAEA, was told by Andrew Hannan, who is in charge of HIPs implementation at the ODPM, that it won't give estate agents any education on how they should sell the packs.Kent says: ...

  • HMO law could affect many investors

    27 Mar 2006

    In my column a couple of weeks ago I told you I was planning to put my money on a horse in the Cheltenham Gold Cup rather than bet on Gordon Brown raising Stamp Duty in the Budget.

  • HMO law could affect many investors

    27 Mar 2006

    In my column a couple of weeks ago I told you I was planning to put my money on a horse in the Cheltenham Gold Cup rather than bet on Gordon Brown raising Stamp Duty in the Budget.

  • House prices rise again

    27 Mar 2006

    The latest survey from Hometrack shows house prices have risen by 0.5% in March. This is the fourth monthly rise in a row and the highest monthly rise since the summer of 2004. Over the last 12 months house prices have risen by 0.1%, the first annual rise since January 2005.

  • HSBC equity controversy

    27 Mar 2006

    HSBC's foray into the equity release market last week has sparked a fierce backlash, with many brokers slamming the lending giant for not offering its customers an IFA service.

  • Iain Dickson joins Private Finance

    27 Mar 2006

    Mortgage broker Private Finance has made Iain Dickson head of sales management and business development. He was previously head of external sales at Bank of Scotland Mortgages.

  • ID fraud inquiry is welcomed

    27 Mar 2006

    The Home Office has welcomed the launch of the first parliamentary inquiry into identity fraud.The All-Party Parliamentary Group on Identity Fraud has set in place the terms of reference for the inquiry into steps the government could take to tackle the problem of identity fraud.

  • IF unveils ERC-free non-offset product

    27 Mar 2006

    With research showing 27% of borrowers fail to account for early redemption charges when taking out their mortgages, Intelligent Finance is launching an early repayment charge-free non-offset tracker deal.IF is also changing the way it calculates ERCs on the other non-offset trackers in its range. ERCs will be charged on full redemption of the balance only during the discount period.Mark Parker, managing director of IF, says: "Moneyfacts recently revealed that mortgage exit ...

  • I'm fed up with hearing from the bickering network chiefs

    27 Mar 2006

    From Jim Gillespie I'm a big fan of Mortgage Strategy and think it is the best read publication in all the financial services press. But I'm sure I'm not the only member of your readership who is getting tired of the constant bickering between various heads of networks that appears to takes place on the letters pages every week. I have no problem with you giving Richard Griffiths, Paul Tebbutt, Richard Coulson et al editorial space in your publication to air their views ...

  • Industry bids farewell to Tim Dawson

    27 Mar 2006

    The industry said goodbye to Mortgage Express's managing director Tim Dawson last week at his leaving party at Madame Tussaud's, London.After 16 years with the company, Dawson says the time is right to hand over the reins to Chris Gillespie.After joining Mortgage Express in 1990, Dawson was appointed finance director and deputy managing director before becoming managing director in October 2001. During his time at Mortgage Express he was intimately involved with the sale of ...

  • Industry frowns on Brown's feeble Stamp Duty decision

    27 Mar 2006

    The industry has slammed Gordon Brown for failing to significantly raise the Stamp Duty threshold to help first-time buyers in his Budget speech.

  • Industry frowns on gesture politics

    27 Mar 2006

    Gordon Brown may have been hoping his 10th Budget speech would get him through the black door bearing the same number, but it did little to inspire a street party in the mortgage industry.

  • Infinity acquires 100m portfolio

    27 Mar 2006

    Infinity has bought its first mortgage portfolio, acquiring 100m of assets from specialist lender Amber Homeloans.Infinity says the deal is just part of the growing market in whole loan sales.Branding can play an important part in choosing a mortgage lender. As selecting a mortgage is one of the biggest decisions a person makes, they want to be sure it's with someone they trust. Banks and building societies spend thousands on advertising so their brands are recognised by the ...

  • Inflation rose in February

    27 Mar 2006

    A rise in sales of computer games and books led to a rise in inflation in February for the first time in five months, the Office of National Statistics reveals.Consumer price index inflation rose to 2% from 1.9% in January, hitting the Bank of England's target. The only large upward influence on inflation came from the recreation and culture sector, including computer games, books, newspapers and stationery.But this was balanced by heavy downward pressure from air fares, which ...

  • Insight to float housing fund

    27 Mar 2006

    Insight, the fund management division of HBOS, is planning to float a fund of residential property on the stock exchange this year.The fund will come from a property portfolio bought from British Land for 300m, with the intention being to grow it to around 500m before flotation.The structure has yet to be confirmed as Insight is awaiting details from the on legislation to introduce tax-efficient Real Estate Investment Trusts to the UK.

  • Insurance agreement

    27 Mar 2006

    The Derbyshire has selected Friends Provident as its partner in a distribution agreementunder the terms of which Friends Provident will be the only insurance provider offering mortgage protection products - including level and decreasing term assurance, critical illness cover and income protection - to the society's customers from April 3.

  • Islamic bridging loans in pipeline

    27 Mar 2006

    ONE Bridging is working on the first line of bridging finance compliant with Islamic Sharia law.The One Finance group subsidiary has established itself as a principal lender for short-term bridging finance, currently lending on both residential and commercial properties throughout England and Wales.The new line of bridging finance is expected to be launched towards the end of 2006.Stewart Lancaster, head of operations at One Bridging, says: "We are in talks with a number ...

  • Just turn your MPLC mouse mat around and it will work

    27 Mar 2006

    From Edwin Finlayson Your news article in the March 13 issue entitled 'MPLC appoints Gould to develop strategy' cites a source who cannot get their MPLC free mouse mat to work with a laser mouse. They should turn it 90 degrees. It works fine. Edwin Finlayson Training manager Matrix Financial Training Institute By emailFrom Mike Lazenby Being a headless chicken is not a prerequisite for running a building society but in some cases it appears to help, especially ...

  • Kensington introduces incentives for Extra Choice products

    31 Mar 2006

    Kensington Mortgages is introducing some incentives to complement its Extra Choices product range from April 1. Purchasing customers can now receive a 250 cashback on any Extra Choices product, and remortgaging customers have the option of either a 250 cashback or rapid free legals, provided by First Title, on any Extra Choices product. This includes Right to Buy and buy-to-let remortgages. Kensington has decided to keep its Simple Choices range as a 'no frills' product ...

  • KMC launches flexible B2L deal

    27 Mar 2006

    Kensington Mortgages has become the first large lender to launch a 90% LTV flexible buy-to-let product for either purchases or remortgages.The product offers a choice of two-year fixed or discount rates starting from 6.04% and three-year fixed rates from 5.94%.The buy-to-let option is available for a loading of 0.5% on the headline residential rates within Kensington's Extra and Simple Choices product sets.The rental calculation is based on 125% of the discounted or fixed ...

  • Lagoon launches bridging loan firm

    27 Mar 2006

    The Lagoon Group has launched Lagoon Bridging Loans & Finance. The Lagoon group aims to help consumers understand financial issues. It plans further business launches during this year in mortgages, insurance and secured loans.

  • Landlords' cover deal proves popular online

    27 Mar 2006

    Paymentshield says applications have trebled for its BestQuote landlords' buildings and contents insurance since it was added to the online Inertia system.The company says when the product was available on a paper basis it averaged 60 to 70 applications per day but from the moment it launched online applications shot up to 100 per day, and were pushing 200 within the week .Chris Traynor, sales and marketing director at Paymentshield, says: "This is an example of the benefits ...

  • Launch DB Countdown

    27 Mar 2006

    In a week that ends with DB Mortgages moving out of its temporary residence, the company's PA receives 67 phone calls from overseas buyers asking for mortgages, says Bill Dudgeon

  • Leeds unveils fixed rate offset

    27 Mar 2006

    Leeds has launched a fees-freethree-year fixedrate offset mortgage. The society says that with offsetting offering flexibility and the fixed rate security, the deal offers the best of both worlds. It says a customer taking a 125,000 mortgage and offsetting 20,000 in the savings account will pay 37,626 less in interest and repay their mortgage four years and eight months early.

  • Lehman Brothers buys LMC

    27 Mar 2006

    Lehman Brothers' has added the London Mortgage Company to its European capital mortgage division, with the deal due to complete for an undisclosed sum in April.A spokesman for LMC confirms that contracts were exchanged on Friday March 24, quash- ing rumours the deal would be delayed due to credit problems.LMC's chief executive officer Robert Owen declined to comment on the sale but he is believed to be happy that the company will become Lehman Brothers' third spec- ialist lending ...

  • Lenders that build close links with brokers will prosper

    27 Mar 2006

    From Bob Sturges I found Simon Biddle's comments about customer retention (Mortgage Strategy Letters March 13) extremely interesting. Having worked in the financial services sector for over 25 years I have seen numerous retention initiatives come and go - along with their fancy marketing tags. Most have failed for the simple reason that lenders are generally pretty half-hearted about retaining borrowers, preferring instead to devote their time, energy and cash to bringing in ...

  • Lenders urged to go green

    27 Mar 2006

    Norwich and Peterborough is urging lenders to do more to help the environment as the trend toward building environmentally friendly houses gathers pace.The society runs a competition for environmental homes and was the first lender to launch a green mortgage in 1998. Just two years later, in July 2000, N&P became the first mortgage lender to offer a carbon-neutral mortgage, developed in association with environmental group Future Forests, now called The Carbon Neutral Company.But ...

  • Let's name and shame lenders that let us down

    27 Mar 2006

    People abroad often see the British as a nation of moaners and still, occasionally, shopkeepers. This is not a particularly endearing picture, as national characteristics go.

  • Licensing regulation could hit professional landlords

    27 Mar 2006

    Landlords are to face tough new regulations from April 6 when landlord licensing becomes mandatory for certain properties.Those landlords who have properties classed as houses in multiple occupation could face fines if they don't comply with the rules and their properties are found to be unfit.Under the changes in the Housing Act 2004, if you let a property which is seen as a house in multiple occupation you will need a licence. Homes that are classed as being in multiple occupancy ...

  • Loans firm seems to have asked self-cert client to lie

    27 Mar 2006

    From Nigel Pamment I recently had the unfortunate experience of dealing with a secured loan company called Portfield Finance. I was previously using another company but was visited by the BDM of this firm and persuaded to give it a go. I submitted a case to Portfield on a self-cert basis as the applicant had incomes from different sources. Apart from the application being poorly administrated from the word go, the final straw came six weeks after the original application ...

  • Long-term fixes no longer dominate

    27 Mar 2006

    Long-term fixed rates no longer dominate the field, according to the latest survey of the buy-to-let market by Business Moneyfacts.This time last year,13 of the top15 fixed rate products were for terms of five years or longer. But in the same survey 12 months on, 13 of the 15 leading fixed rates are for a three-year term or less.

  • M2000 appointment

    27 Mar 2006

    Mortgage 2000 has appointed Stephanie Ayres office manager for its packaging arm m2-d&p and its online system Casemaster.Ayres has worked in the group for six years.

  • Market Watch

    27 Mar 2006

    It's always a treat for me having to write this column for JC while he takes his annual skiing trip and I am always pleasantly surprised at how many people read it.

  • Marketing Brief

    27 Mar 2006

    Support is critical in the mortgage industry. Kevin Paterson's A-Z review rates the marketing material that lenders issue to help brokers with sales and business development

  • MCPL moves

    27 Mar 2006

    Mortgages PLC is moving its headquarters to a riverside office complex in the City of London. From today, MPLC will be based at 1 Swan Lane, London EC4R 3TN.

  • MEX takes flak from packagers over fees

    27 Mar 2006

    Mortgage Express has become the object of packagers' wrath over reduced procuration fees and curtailed packager panels.

  • Misys terminates Sesame sale

    30 Mar 2006

    Misys has terminated discussions with potential purchasers of Sesame, its subsidiary that provides support services to UK financial advisers.

  • Money Partners launches Origin product range

    30 Mar 2006

    Money Partners has launched a new range of mortgage products under its Origin brand.

  • Money worries are a downer

    27 Mar 2006

    As many as two million British adults admit that worrying about their finances has made them lose their sex drive, according to a study by insurance giant AXA. The company says that around 1.3 million women and around 732,000 mensay they have lost their libido and sorting out their finances is the only way they will rediscover it.

  • More clients for Mortgage Brain

    27 Mar 2006

    Mortgage Brain has increased its customer base following Openwork's decision to rely exclusively on Mortgage Brain and the Mortgage Trading Exchange for its sourcing and electronic trading needs.

  • More HBOS staff could defect

    27 Mar 2006

    News that the Oakwood Group has started recruiting for its mortgage business in Wolverhampton has prompted speculation that more staff will leave BM Solutions.Oakwood says it is in the development stage of launching its specialist lender and is recruiting at all levels.It will not comment on how many staff it is looking for but a source close to the business tells Mortgage Strategy: "If people knew how many staff it wants take on it would set pulses rocketing, especially ...

  • More money for rundown estates

    27 Mar 2006

    Deputy Prime Minister John Prescott last week unveiled a further 482m of investment to regenerate some of England's most rundown estates. The government says funding into the Housing Market Renewal programme will continue its drive to turn around neighbourhoods suffering the blight of abandonment and anti-social behaviour.

  • Mortgage approvals up by 22% in Feb

    28 Mar 2006

    Mortgage approvals were up by 22% in February compared with the same month last year show figures from the British Bankers' Association.

  • Mortgage Next launches network comparison calculator

    27 Mar 2006

    Mortgage Next Network has launched an online cost comparison calculator, which enables appointed representatives to compare the cost of belonging to their existing network with the cost of being a member of the Mortgage Next Network.

  • Mortgages PLC promotes Beaumont to deputy CEO

    30 Mar 2006

    Mortgages PLC, the UK lender and subsidiary of Merrill Lynch, has promoted Peter Beaumont to deputy chief executive officer.

  • MortgageStream launches two way link to Mortgage Brain

    29 Mar 2006

    MortgageStream has developed a two way link to allow client and lender data to be imported to and from MortgageStream and Mortgage Brain.

  • MortgageStream system updated

    27 Mar 2006

    Covernet UK, the broker support services provider, has launched a customised version of the MortgageStream case management system.

  • MPs strike a blow for better financial deals

    27 Mar 2006

    The newspapers are full of stories about rising utility prices, rising transport costs and the possibility of Council Tax increases. And by the time you are reading this we will know if chancellor Gordon Brown's Budget contained any surprises.

  • New love that dares not speak its name

    27 Mar 2006

    In last week's column I had one of my rants about Home Information Packs - that they will fail to eradicate gazumping or significantly speed the sales process. But widespread concerns are being ignored by the government which has announced its timetable for the introduction of HIPs.

  • No real growth in house prices for foreseeable future

    29 Mar 2006

    Martin Ellis, chief economist at HBOS Plc, says he does not see house prices rising in real terms for the next 10 to 20 years.

  • NU joins the fight for your business

    27 Mar 2006

    How far will lenders go as they fight for your equity release business?

  • One in four B2L investors female

    27 Mar 2006

    Research on over 20,000 landlords compiled by Landlord Mortgages reveals that 2006 is the year of the landlady.

  • Openwork to cut panel again

    27 Mar 2006

    Paul Shearman, mortgage proposition director for Open-work, says it has fresh plans to axe lenders from its panel following its restructuring.

  • Optoma sponsors British Superbikes team

    28 Mar 2006

    Optoma Broker Solutions is to sponsor the British Superbikes for the forthcoming season.

  • Origo waits for CML backing

    27 Mar 2006

    Paul Pettitt, managing director of Origo, says the organisation is waiting for lenders to exert pressure on the Council of Mortgage Lenders to embrace open standards.Origo, the financial services industry standards body, has gained significant funding from 13 lenders to establish a mortgage standards framework.But Pettitt says that despite having the full support of the Association of Mortgage Intermediaries and the Intermediary Mortgage Lenders Association, it has not yet received ...

  • Paragon completes 48th securitisation

    29 Mar 2006

    Paragon has completed a buy-to-let securitisation transaction totalling more than 1bn and bringing the Groups aggregate issuance to over 14bn.

  • Pink 1000 Index Survey near to launch

    30 Mar 2006

    Pinks 10th 1000 Index Survey will be launched on April 4 and run until April 11.

  • Pink campaign pays off

    27 Mar 2006

    Pink Home Loans says its campaign called 'Turning the adverse world upside down' has led to a substantial number of calls to its mortgage helpdesk and a rise in applications of over 80%.

  • Pink supports GMAC-RFC's partner proposition

    29 Mar 2006

    Pink has given its backing to GMAC-RFCs partners proposition launched to the market on March 27.

  • Platform appoints PR manager

    28 Mar 2006

    Platform, the intermediary lender of Britannia, has appointed Toby Nelson as public relations manager. Nelson joins Platforms expanding marketing team from property investment company Inside Track where he was group public relations Manager. He has over six years PR experience working in both an agency and in-house environment. In this new position Nelson will be responsible for developing and implementing the PR strategy plus managing the day-to-day public relations activity ...

  • Platform hits 5bn assets mark as completions rise

    27 Mar 2006

    Figures from Platform show completion volumes shot up by 20% in 2005 compared with 2004.Total completions were 3bn, with the specialist lender for Britannia hitting the 5bn mark for mortgage assets in the past couple of weeks. The rise is put down to the launch of Platform's online decision facility clickdecision in July last year together with changes to pricing and credit across its self-cert, buy to let and sub-prime ranges.The launch of electronic ID verification on clickdecision ...

  • Private Finances recruits new lending officer

    29 Mar 2006

    Joy Gough has joined Private Finance from Mortgage Express where she was senior new lending officer.

  • Property investors looking outside of major cities

    28 Mar 2006

    Jon Clark of residential property specialists CCRE Touchstone says property investors are looking outside of traditional areas such as London and Manchester to focus on regional cities and towns, where they can find good performing investments in less trendy locations.

  • Regulators look to cut burden on companies

    27 Mar 2006

    The Financial Services Authority and the Office of Fair Trading are considering working more closely together to cut the administrative burden on firms.A plan will be published by the end of April, setting out how the organisations believe they can deliver benefits to consumers and firms by working together on issues such as the sale of payment protection insurance.The organisations also plan to collaborate when it comes to the enforcement of advertising rules and the issuing ...

  • Rooftop in relaunch

    27 Mar 2006

    Rooftop Mortgages has relaunched its buy-to-let range, which includes a buy-to-let near prime product designed for investors with up to three properties, and a buy-to-let portfolio product designed for experienced landlords with three or more properties. Both start at 5.30% for a 12-month discount. A two-year fix is available at 5.80%. Rooftop sales and marketing director Alison Beech says the new range shows Rooftop's "commitment to challenge the market with fresh and innovative products".

  • Rooftop to use Pro Val system

    27 Mar 2006

    Rooftop Mortgages is to use UKValuation's ProVal automated valuation system. Rooftop staff will have access to the ProVal database which will be used for checking on-site valuations to spot rogue results, as well as to validate investment decisions. Jonathan Naylor, managing director of Rooftop, says: "The underlying value of property is a critical to our business and affects us at all stages from application to redemption. Employing the latest technology will allow us to deliver accurate ...

  • Showing initiative

    27 Mar 2006

    Government initiatives in the housing market have met with mixed success but they are likely to be a permanent feature, says Mike Fitzgerald

  • Singletons could block FTBs

    27 Mar 2006

    Unless more houses are built to cope with the growing number of single people entering the market, rising prices could mean first-time buyers fail to get on the housing ladder, the government warns.The number of people living alone is expected to account for 72% of annual household growth by 2026, meaning a lack of housing could cause prices to rise, says the Office of the Deputy Prime Minister.Projections show that in the UK the number of households is expected to increase ...

  • Someone in Future must take responsibility for shambles

    27 Mar 2006

    An open letter to Future Mortgages from Brian Melling I have just received an update on the following application - Case B387818804 Boddy. This is interesting as this case was cancelled on January 6 verbally and in writing to your head office and by email to your local representative. Despite this, the valuation was carried out on January 13. I have subsequently complained about the service (including reference to the cancellation and requesting a refund of application ...

  • Sophisticated investors like the sound of REITs

    27 Mar 2006

    The Associationof InvestmentTrust Companies says that whilelast week's changes to the draft Real Estate Investment Trusts legislation do not go far enough, the latest research pointsto a strong appetite among sophisticated property investors for property investment vehicles of this type.

  • Spicerhaart defends HIPs as good for first-time buyers

    27 Mar 2006

    Stephen Nation, Director of Home Information Packs at Spicerhaart, has reacted to David Camerons promise to axe HIPs.

  • Student property and residential syndicates to be allowed in SIPPs

    29 Mar 2006

    The Chancellor is now permitting SIPP holders to invest directly in student halls of residence and indirectly in other residential property within a syndicate of just eleven or more members, reports Assetz. In Her Majestys Revenue & Customs Guidance Notes, the details of the definition and tax treatment of residential property within SIPPs were divulged last week. They are draft documents at this stage and are expected to become law as part of the Finance Act in July 2006. ...

  • TCF sees online business hit 80%

    27 Mar 2006

    The Finance Centre says around 80% of its applications now go through its online mortgage processing and management information system.Using the system, cases can be submitted in 48 hours, with pre-populated forms allowing brokers to print off an entire online application pack that contains all the necessary processing documents and highlights the lender's document requirements.As a result of using the system, brokers spend less time assessing paperwork with their clients and ...

  • Tenet releases LIME Direct

    27 Mar 2006

    Tenet has launched its LIME Direct service for directly authorised advisers who offer direct access to the LIME whole-of-market mortgage, life and insurance panels.

  • TFC welcomes GMAC-RFC Partners Initiative

    27 Mar 2006

    TFC Homeloans has welcomed GMAC-RFCs Partners Initiative.

  • The Mortgage Mole

    27 Mar 2006

    BLAZERPhilip Dearing, chief executive of Market Harborough, was left distraught after being introduced to Thickett's beard only moments before it went up in flames.

  • The Property Investor and Homebuyer Show Scotland heads north

    30 Mar 2006

    The Property Investor and Homebuyer Show Scotland sets up home in Glasgows SECC next weekend, Friday April 7 to Sunday April 9, with free entry for all visitors.

  • threesixty services and Just Retirement stage seminars

    27 Mar 2006

    threesixty services, the fee-based IFA support services provider, has teamed up with Just Retirement, the specialist provider of enhanced annuities and equity release products, to stage a series of seminars exploring issues around equity release and Inheritance Tax at some of the countrys top rugby grounds.

  • Too few advisers bother to learn about specialist deals

    27 Mar 2006

    From Mark Chipperfield I don't wish to cause offence with the following but rather give readers a taste of reality. I have been prompted to write after seeing George Chappell's letter (Mortgage Strategy March 6). The two of us sat together taking CF7 in Inverness back in October 2005 - not another soul to be seen taking any other examination. I am glad to see he passed the second time round but it is a great shame his network is not backing him. I passed the CF7 that ...

  • Tories vow to scrap "costly" HIPs

    27 Mar 2006

    David Cameron has vowed to scrap costly Home Information Packs if elected to power in the next general election.

  • Towns that count the cost of students

    27 Mar 2006

    Households in university towns are paying extra Council Tax, according to a backbench MP. In effect, residents are subsidising students - who are exempt from the tax - because of the way the government assesses grants given to local councils.

  • Trigold gets insurance link

    27 Mar 2006

    Guaranteed and Genesis Home Loans have linked with Trigold to provide navigation between the sourcing system and their online insurance proposition.This means network members that use the GHL version of Trigold's Prospector software can go straight to its website to find information and quotes on life and general Insurance products. Eachtime a KFI is requested an insurance pagewill appear as a pop-up page.

  • Trigold unveils its updated system

    27 Mar 2006

    Trigold is to demonstrate the updated version of its Prospector AAA at free seminars across the country.Prospector Version 7 has a fresh look, better navigation and improved integration with the Electronic Trading Centre, which links to over 50 lenders.Bill Safran, chief executive officer at Trigold, says: "The mortgage market is developing at an astounding rate, and it is essential that system providers think ahead rather than just react to trends."Support is crucial in ...

  • UCB Home Loans increases lending multiples

    29 Mar 2006

    UCB Home Loans, the specialist lender of Nationwide, is increasing the maximum lending multiples on its self-cert and buy-to-let mortgages as part of its affordability assessment with effect from Thursday March 30.

  • UCB signs up Mr Potato head

    27 Mar 2006

    Classic toy Mr Potato Head is heading an advertising campaign for UCB Home Loans.Intended to provide images that stand out from the crowd, the campaign promotes the lender's buy-to-let range.

  • Vertex completes acquisition of 1st Software

    31 Mar 2006

    Vertex Financial Services, the provider of outsourced services and technology solutions to the life and pensions, mortgages and investment industry, has completed its acquisition of 1st Software Group, a player in the IFA technology market.

  • We must not let equity release become a mis-selling scenario

    27 Mar 2006

    From Rick Gifford I read with interest Bill Petrie's comments on equity release (Mortgage Strategy March 13) and agree with what he has to say. The problem we may have - and I sincerely hope all the parameters will be in place, unlike with the Home Information Packs saga - is that in years to come we might see an equity release mis-selling scenario. It happened with endowment mortgages and the industry had to pay out millions. But mis-selling what? At the time just about every ...

  • We need a public agenda for change

    27 Mar 2006

    The ominous silence following the meeting between the FSA and PPI practitioners must not go on too long or the reputation of the industry will continue to suffer, says Simon Burgess

  • West Brom MPPI deal

    27 Mar 2006

    Friends Provident has signed an exclusive deal for mortgage payment protection products with West Bromwich. It will be the only insurance provider offering mortgage protection products for the society's customers. Friends Provident will offer level and decreasing term assurance, critical illness cover and income protection through West Bromwich's personal mortgage managers.

  • Whitechurch Network teams up with Securah

    31 Mar 2006

    The Whitechurch Network has announced a strategic business partnership with general insurance firm Securah to provide its group of advisers with access to monthly mortgage payment protection insurance products.

  • Why advice will always be valued

    27 Mar 2006

    Last week I looked at the way the use of online technology has become part of the furniture in the mortgage system and improved lender speed and efficiency, so this week I will investigate how the internet has affected the mortgage buying process for borrowers.

  • Wolsey Securities appoints regional development director

    27 Mar 2006

    Wolsey Securities, the independent specialist in 100% residential development finance, has appointed Paul Hollyman as a regional development director joining the South-West operation.

  • Would you use a lender whose name you are not familiar with?

    27 Mar 2006

    Branding can play an important part in choosing a mortgage lender. As selecting a mortgage is one of the biggest decisions a person makes, they want to be sure it's with someone they trust. Banks and building societies spend thousands on advertising so their brands are recognised by the person in the street.

  • Yorkshire pays for guide dog puppy

    30 Mar 2006

    Last year the Yorkshire became the first UK company to pay for a guide dog puppy through its first year of life from the donation of mobile phones.

  • You must choose your HIP provider with care

    27 Mar 2006

    Over the course of the next 12 months, you may well receive quite a few phone calls, emails and promotional literature from the 143 would-be Home Information Pack providers.

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