Mortgage Strategy
28 April 2008

  • B2L brokerage on Sunday Times list

    28 Apr 2008

    The Money Centre was placed 38th in The Sunday Times' national league table of the top 100 UK firms with the fastest growing profits. It's the first time the specialist buy-to-let brokerage has featured in the Profit track 100.

  • MPC split on April rate cut

    28 Apr 2008

    Three members of the Bank of England's Monetary Policy Committee voted against April's base rate cut. Tim Besley, David Blanchflower and Andrew Sentance voted against it, saying the economic slowdown is not as severe as expected.

  • Protect your income despite the credit crunch

    29 Apr 2008

    Iain Mallon, director of protection marketing at AXA explains how mortgage packagers and brokers can protect their income.

  • Read your contract

    30 Apr 2008

    In this job, I find myself constantly asking the question: Do individuals not read contracts? Or more importantly, do they not understand what theyre signing?

  • A&L pays tribute to chairman

    29 Apr 2008

    Alliance & Leicester has paid tribute to the “outstanding contribution” to British business by its late chairman Sir Derek Higgs.

  • Abbey reintroduces exclusives

    2 May 2008

    Abbey for Intermediaries is to reintroduce mortgage exclusives via its broker channel after withdrawing them last month to help maintain service levels.

  • Abbey sees 17% Q1 profit rise

    29 Apr 2008

    Banco Santander’s Q1 results have revealed a 17% rise in year-on-year profit at Abbey.

  • AFB calls on lenders to unblock market

    1 May 2008

    The Association of Finance Brokers has welcomed today's publication of the Bank of England Financial Stability Report which states that the correction in the credit markets has gone too far and that risk appetite should return in the coming months.

  • Affirmative adds Ask Anna application

    1 May 2008

    Anna is the new face of bridging lender Affirmative's website where visitors can Ask Anna anything in question and answer format about products, rates and criteria.

  • AMI appeals for level playing field on product pricing

    1 May 2008

    The Association of Mortgage Intermediaries is calling for a level playing field when it comes to product pricing.

  • AMI considering going to OFT on dual pricing

    2 May 2008

    The Association of Mortgage Intermediaries is considering going to the Office of Fair Trading over lenders undercutting brokers out of the market.

  • An American philanthropist in London

    28 Apr 2008

    US entrepreneur George Peabody invested his fortune into making life better for the capital's poor and the housing association he founded continues his good work today, says Simon White

  • Another week on the roller coaster

    28 Apr 2008

    I've had a frustrating time with a deal collapsing at the last minute. This could become more commonplace so brokers may have to start charging customers upfront fees, says Sue Read

  • Ask for help to cope with twists of fate

    28 Apr 2008

    After a decade of sustained growth, many in the mortgage industry are struggling to adapt to tougher market conditions.

  • B&B cuts inhouse advisers to 40

    30 Apr 2008

    Bradford & Bingley has cut the number of its inhouse mortgage advisers to 40.

  • B&B reveals £38m in write-downs

    28 Apr 2008

    Bradford & Bingley has revealed write-downs of £38m in Q1 2008. The losses were recorded in the lender's structured finance portfolio, which features collateralised debt obligations.

  • B2L prospects are good, say brokers

    28 Apr 2008

    The Mortgage Works says brokers are optimistic about landlords' prospects this year. Some 44% of respondents polled by the firm think investors will not only maintain their existing portfolios but grow them.

  • B2L repossessions will threaten market

    28 Apr 2008

    The news that Abbey is withdrawing from the buy-to-let market is likely to add to the gloom surrounding the housing market.

  • B2L withdrawal will not affect sector

    28 Apr 2008

    Another week, another lender changes its product range. Last week it was Abbey, and the changes we have made are likely to generate more hyperbolic headlines than any others since the mortgage market started to feel the effects of the credit crunch.

  • Bailout may not be enough to save PM

    28 Apr 2008

    How many more redundancies will it take before Prime Minister Gordon Brown realises he needs to help the mortgage industry? The loss of 50-plus jobs at edeus last week is another hammer blow to the market and a sure sign, if one were needed, that the worst is yet to come.

  • Bank bonuses caused credit crunch, says King

    29 Apr 2008

    Exorbitant bonus structures are responsible for the credit crunch, says Mervyn King.

  • Banks are overstating losses, says BoE

    1 May 2008

    Banks are overstating the losses suffered during the credit crunch, says the Bank of England.

  • Banks could help out building societies

    29 Apr 2008

    The Bank of England’ s Special Liquidity Scheme which allows banks to swap temporarily their mortgage-backed and other securities for UK Treasury Bills, does not appear to be very helpful to the majority of building societies but apparently the big players may come to their rescue.

  • Barclays director to advise FSA

    28 Apr 2008

    The Financial Services Authority has appointed Naguib Kheraj, former finance director at Barclays Group, as senior adviser to its Supervisory Enhancement Programme. The scheme will implement the recommendations of the Northern Rock inquiry that criticised the regulator's handling of the crisis.

  • Barnes takes on MS

    28 Apr 2008

    Former Liverpool and Newcastle winger John Barnes (pictured) will take on a Mortgage Strategy team in a charity five-a-side football tournament next week.Scoring Goals Against Leukaemia will also feature Everton goalkeeping legend Neville Southall.Financial services firm Lifetime is organising the event in St Albans on Thursday May 8 to support The Anthony Nolan Trust.

  • Base Commercial offers helping hand to brokers

    2 May 2008

    Base Commercial Mortgages is looking to offer a helping hand to brokers left stranded by Salt Commercial’s decision to halt new lending and review pipeline cases.

  • Base Commercial urges MPC to unlock log-jam

    1 May 2008

    Base Commercial Mortgages says the Monetary Policy Committee should focus its attention on cutting inter-bank rates rather than base rate to unlock the current financial log-jam.

  • BBA paints bleak March picture

    28 Apr 2008

    The British Bankers' Association says new mortgage approvals for house purchases fell 18% in March compared with February.

  • BDM appointed at TMB

    28 Apr 2008

    The Mortgage Business has appointed Rob Fields as BDM.

  • BDS and Assurant link up on MPPI

    28 Apr 2008

    Assurant Solutions Intermediary and the network arm of the BDS Mortgage Group have partnered to provide mortgage payment protection insurance.

  • BoE reveals individual lending fall

    29 Apr 2008

    Bank of England figures published today reveal that the rate of increase in individual lending is on a downward turn.

  • Bond plan a case of too little, too late

    28 Apr 2008

    For some time I've been calling for the tripartite authority to take decisive action to address the liquidity crisis engulfing the market and it has finally made its move.

  • Borrowers urged to focus on true cost

    29 Apr 2008

    Borrowers should focus on the true cost of loans and keep falling house prices in mind, says Mform.co.uk.

  • Bridging lender trade association to launch

    28 Apr 2008

    Bridging lenders are set to launch the Association of Short Term Lenders, a self-regulatory trade association with its own code of conduct.

  • Bright Finance launches marketing package

    30 Apr 2008

    Bright Finance has launched a free service for all its introducers, to help support them in successfully promoting their company.

  • Bringing liquidity back to the market

    28 Apr 2008

    Allowing banks and societies to swap a range of asset-backed securities for bonds is a good idea and should ease liquidity constraints.

  • Broker-hearted

    28 Apr 2008

    Mole bid a fond farewell to Strategy display sales executive Alana Heaton last week as she departed to join London-based Alexander Hall to train as a mortgage broker.

  • Broker-hearted

    28 Apr 2008

    Mole bid a fond farewell to Strategy display sales executive Alana Heaton last week as she departed to join London-based Alexander Hall to train as a mortgage broker.

  • Brokers can't make a living in these turbulent conditions

    28 Apr 2008

    Regarding Danny Lovey's spoof open letter to mortgage brokers from lenders (Mortgage Strategy April 14), brokers can't make a living.

  • Brokers must diversify in tough times

    28 Apr 2008

    There have been a variety of reactions to what is the worst lending environment for 30 years. The inability to lend means some firms are sitting it out, while the likes of edeus have decided to di-versify in a big way.

  • Brokers should be questioning packagers' financial strength

    28 Apr 2008

    In this time of market uncertainty it's understandable that packagers that re-main in the market are trying to reassure brokers they will not be left fi- nancially high and dry if packagers run into trouble.

  • Brokers told to consider CCA

    28 Apr 2008

    Loanoptions.co.uk is urging brokers to align their businesses with the revamped Consumer Credit Act. Andy Moody, managing director of the firm, says the guidelines will ensure secured loans are better options for clients.

  • Brussels dismisses Darling's economic forecast

    29 Apr 2008

    The European Commission has dismissed the chancellor’s claims that the UK economy will bounce back from the credit crunch in the coming years.

  • Building society net lending plummets by over 60%

    29 Apr 2008

    Gross lending by building societies fell £1.808bn to £3.631bn in March 2008 compared with £5.439bn in March 2007, according to new figures from the building societies association

  • Buyers show marginal interest in Elephant Home Loans

    29 Apr 2008

    Begbies Traynor, the rescue and recovery specialist handling the liquidation of Elephant Home Loans says it has received marginal interest in the firm so far and urges any interested parties to step forward before 16 May.

  • Buy-To-Let Has A Long Life Yet

    29 Apr 2008

    After having spent the weekend trying to put together a Bugaboo and putin a baby car seat, (don't even mention the blinds), the frustrations Ifelt trying to follow the instructions in order to make sure it allworks felt a bit like applying for a mortgage in current times.

  • Buy-to-let investors here to stay

    29 Apr 2008

    A mass exodus from the buy-to-let market by investors is unlikely, says Paragon Mortgages.

  • C&G goes direct in search of business

    28 Apr 2008

    So what should we make of Cheltenham & Gloucester's latest tentative foray into the mortgage market? There was no big product launch but apparently it is reverting to pounding the pavements in search of new business from estate agents.

  • C&G's commitment to brokers questioned

    28 Apr 2008

    Cheltenham & Gloucester is being accused of bypassing brokers by encouraging estate agents' inhouse brokers to submit applications via branches to avoid delays.

  • Calls to raise ISMI threshold

    28 Apr 2008

    A state benefit to help struggling home owners has been slammed by the mortgage industry for being out of touch with market prices.

  • Cameron calls for lender-funded advice service

    29 Apr 2008

    Conservative party leader David Cameron has proposed a £50m social responsibility charge be levied on lenders to subsidise a free consumer finance advice service.

  • Castleview looks for 10 staff prior to May launch

    28 Apr 2008

    Castleview Independent Mortgage Brokers is recruiting staff for its office in Nottingham in the run-up to its official launch.

  • Cattles rustles up rights issue

    28 Apr 2008

    Sub-prime lender Cattles has launched a 200m rights issue to be underwritten by Citigroup and HSBC. The lender says that although it has received strong support it will use the rights issue to diversify its funding and finance its long-term growth.

  • Chelsea withdraws broker mortgage products

    2 May 2008

    Chelsea is temporarily withdrawing all its intermediary mortgage products by close of business today.

  • Cheque please

    28 Apr 2008

    The Bank of England will inject £50bn into the mortgage market to tackle the credit crunch but it could be a case of too little, too late, says Christine Toner

  • City Talk

    29 Apr 2008

    Our man with his finger on the pulse of all things in the city, Rob Gill, gives us his weekly update…

  • CML asserts real aim of BoE scheme

    30 Apr 2008

    The Council of Mortgage Lenders has asserted that the Bank of England's Special Liquidity Scheme is designed to improve liquidity in the banking system, not to support the housing market.

  • CML calls on EU to abandon mortgage White Paper

    28 Apr 2008

    The Council of Mortgage Lenders is urging the European Commission to abandon its suggestions for the integration of EU mortgage markets.

  • CML says builder's code does not go far enough

    28 Apr 2008

    THE COUNCIL of Mortgage Lenders says that the recent revamp of the House Builders Federation’s code of conduct does not go far enough.

  • CMLS adds ER via Equity Release Club

    2 May 2008

    CMSL Network has added equity release products to its network proposition for those appointed representatives qualified and competent.

  • Complete links to Trigold ETC

    30 Apr 2008

    Complete Mortgage and Loan Services has linked with Trigold’s Electronic Trading Centre to directly transfer of client data into the Dashboard back office system.

  • Conti launches overseas remortgage service

    30 Apr 2008

    Conti Financial Services has launched a remortgaging service to owners of overseas residential property in 15 countries across Europe, Africa and the USA.

  • Coventry revamps mortgage range

    1 May 2008

    Coventry Intermediaries is making changes to its Coventry and Godiva mortgage range from tomorrow.

  • Credit crunch fuels loan fraud

    30 Apr 2008

    Data from UK fraud prevention service CIFAS shows that more people are lying on applications for loans, credit cards and insurance products since the credit crunch took hold.

  • Credit management packager launched

    28 Apr 2008

    A new credit management packager has been launched to help borrowers who find themselves in arrears.

  • CurriculumVitae: Jeremy Claridge

    28 Apr 2008

    “I took a gap year to improve my finances and ended up delivering and packing coal”

  • Customised valuation reports

    28 Apr 2008

    Trigold and Hometrack have launched customised broker property valuation reports. Hometrack subscribers on Trigold's panel can generate reports for £5 a month.The government's bid to help the mortgage market with a £50bn plan to swap mortgage-backed securities for Treasury bonds dominated the media spotlight last week. Al-though it is expected to inject liquidity into the money markets, some MPs have blasted the scheme as bailing out the banking industry.

  • Cutting out brokers means consumers get a poor deal

    28 Apr 2008

    I am writing with regard to Kevin Mit-chell's recent letter about Woolwich deals that are not available to brokers (Mortgage Strategy April 21).

  • Dear Delia

    28 Apr 2008

    Dave is an experienced buy-to-let investor who sees opportunities in the current market to grow his portfolio. He has agreed to buy a discounted property in a private sale and the vendor wishes to complete as quickly as possible. The agreed purchase price is £200,000 but the property's true value is £235,000, which he knows valuers will confirm. How can he maximise his borrowing and save his cash for further purchases? Delia says: A bridging loan may be the solution as Stuart Law ...

  • Debts.co.uk sees loss of £0.9m

    30 Apr 2008

    Debt specialist Debts.co.uk has reported a loss after tax of £0.9m for the first half of the 2008, compared with a £1.3m profit for the same period last year.

  • Deutsche Bank likely to request €17bn at AGM

    28 Apr 2008

    Media reports suggest Deutsche Bank will request permission to raise up to €17bn for the purpose of acquisitions.

  • Do you think the Treasury plan is a wise use of government resources?

    28 Apr 2008

    THE GOVERNMENTS bid to help the mortgage market with a 50bn plan to swap mortgage-backed securities for Treasury bonds dominated the media spotlight last week. Although it is expected to inject liquidity into the money markets, some MPs have blasted the scheme as bailing out the banking industry.So, this week Mortgage Strategy asks

  • Edeus quits lending and shifts focus

    28 Apr 2008

    Edeus has stopped new lending and has rebranded itself as edeus market innovators.

  • Evaluate adds Beacon to packaged lender panel

    28 Apr 2008

    Evaluate has added Beacon Homeloans to its panel, and now beleives it is able to offer the most accurate sourcing possible on all lenders that currently offer packaging arrangements.

  • Evaluate completes lending panel with Beacon

    28 Apr 2008

    Evaluate Technologies says it has completed its whole of market lending panel with the addition of Beacon Homeloans.

  • Experts to sharpen em-'s business

    28 Apr 2008

    Em-commercial has appointed a team of experts to bolster its commitment to commercial lending. The team, comprising bankers and administration experts, has a mandate to improve em-'s processes.

  • Expo Manchester to feature FSA clinic

    28 Apr 2008

    This year's Mortgage Business Expo Manchester will feature an advice centre where delegates can meet a Financial Services Authority representative.

  • Financiers Anthony & Co increase Mini Loan size

    2 May 2008

    Private financiers Anthony & Co have raised its Mini Loan size from 12,500 to 20,000 and is still lending up to 75% LTV.

  • FLA to launch focus group for secured lenders

    1 May 2008

    The Finance and Leasing Association is to set up a focus group for secured loan lenders.

  • Former Home Loans chief launches credit management packager

    28 Apr 2008

    Former High Street Home Loans chief executive Gary Forrest has launched a credit management packager. The packager will provide debt management solutions for clients struggling financially. Broker will key the clients details into Guardians web-based system and be presented with a list of possible solutions.

  • Forrest returns to the market

    28 Apr 2008

    The former managing director of High Street Home Loans has returned to the market with a credit management firm that could give brokers an income lifeline.

  • Fraud rockets due to credit crunch, says CIFAS

    30 Apr 2008

    CIFAS has blamed the credit crunch for a 10% rise in fraud cases.

  • FSA bans NI broker for not acting on fraud tip

    28 Apr 2008

    The Financial Services Authority has banned a Northern Ireland-based broker for failing to prevent fraud.

  • FSA publishes full findings of Northern Rock supervisory review

    28 Apr 2008

    The Financial Services Authority is being urged to conduct bi-annual reviews of high-impact firms.

  • FSA report highlights lax data controls

    28 Apr 2008

    Poor data control is a serious and widespread problem in the financial services industry.

  • FTBs' share of market falls

    28 Apr 2008

    The National Association of Estate Agents has revealed first-time buyers' share of the mortgage market fell from 11.7% in February to 8.3% in March. It blames tighter lending criteria caused by the credit crunch.

  • Goldsmith Williams teams up with Finance & Mortgage Solutions

    29 Apr 2008

    Goldsmith Williams, the specialist direct conveyancing firm, is to make its conveyancing services, which include GW Live and a seven day remortgage guarantee, available via PMPA packaging member Finance & Mortgage Solutions.

  • Good news for KGB volumes

    28 Apr 2008

    KGB Packaging has reported a 30% rise in the volume of submitted cases during the past month compared with its monthly average.

  • Gross lending by mutuals drops £1.8bn

    29 Apr 2008

    Gross lending by building societies fell £1.808bn to £3.631bn in March 2008 compared to £5.439bn in March 2007, new figures reveal.

  • Hanging onto the ladder for dear life

    28 Apr 2008

    The latest news from housing charity Shelter says the boom in house prices since 1998 means many first-time buyers have been unable to get on the property ladder. I didn’t see that coming.

  • HBOS confirms £4bn rights issue

    29 Apr 2008

    HBOS has confirmed plans to launch a £4bn rights issue in an attempt to shore up its capital, it was revealed this morning.

  • HBOS rights issue rumours clarified

    28 Apr 2008

    In a HBOS trading statement to be released tomorrow shareholders will find out if a rights issue will be signed off.

  • Help clients see the bigger picture

    28 Apr 2008

    Clients are increasingly in need of information on trends in the housing market and the wider economy and brokers should be able provide this, says Justine Tomlinson

  • HML appoints operations director

    28 Apr 2008

    Home Loan Management has appointed former HBOS man Gordon Soutar as its operations director.

  • House prices fall 1.3% in April

    2 May 2008

    House prices fell by 1.3% on average in April, says the latest Halifax House Price Index.

  • House prices may need to fall 30%

    30 Apr 2008

    A Monetary Policy Committee member has warned house prices may need to fall 30% to restore a more sustainable house price-to-earnings ratio.

  • Howard's away

    28 Apr 2008

    In a move that will doubtless be celebrated throughout the kingdom, Halifax is reported to be poised to axe all-singing all-dancing Howard Brown from its TV adverts.

  • HSBC thrives as rivals retreat

    28 Apr 2008

    HSBC and First Direct have recorded their best lending figures for five years as competitors withdraw from the mort- gage market.

  • In the Hot Seat

    30 Apr 2008

    This month, Rachel Bancroft, managing director at KGB Packaging takes her place in Mortgagedistributor.co.uk’s hot seat and discusses why the packager sector is one the most resilient and entrepreneurial in the market.

  • Inside Track Seminars placed into administration

    29 Apr 2008

    Inside Track Seminars - the company that offered people the chance to become millionaire property investors - has been placed into administration.

  • Investment firm tipped to bid for RBS insurance arms

    2 May 2008

    A private investment company is reported to be mounting a bid for RBS’ insurance arms.

  • ISMI reform will be too late for many so brokers must step in

    28 Apr 2008

    The Council of Mortgage Lenders' call for Income Support for Mortgage Interest to be reformed should be applauded.

  • It's great when a plan comes together

    28 Apr 2008

    Swapping mortgage-backed securities for government bonds should inject liquidity into the market and help the mortgage industry get back on its feet, says Katie Tucker

  • Job cuts at RBS

    28 Apr 2008

    RBS merger with ABN AMRO will mean job cuts for members of staff

  • Just Retirement Group reveals 12% rise in sales

    28 Apr 2008

    The Just Retirement Group has revealed a 12.1% year-on-year rise in group sales as part of its Q3 results.

  • Lean Mean Mortgage Machine

    1 May 2008

    As any good Kenzai warrior will tell you, sorry Heroes reference again,tough times often mean tough action.

  • Lenders should hike not slash proc fees

    28 Apr 2008

    Tightening criteria, direct-to-consumer product ranges and lenders considering proc fees cuts - there's been a lot for brokers to contend with recently.

  • Lenders urged to remain cautious

    28 Apr 2008

    Lenders should maintain a cautious attitude to lending when the financial markets stabilise, according to one member of the Bank of England's Monetary Policy Committee.

  • Let's burn the rule book and start again

    28 Apr 2008

    When defending our system of mortgage regulation against the threat of even more red tape courtesy of the European Union, Michael Coogan, director-general of the Council of Mortgage Lenders, used to argue that the UK had one of the most competitive and innovative markets in the world.

  • Light at the end of the tunnel

    1 May 2008

    Natalie Martin, editor, Mortgagedistributor.co.uk

  • Link Lending appoints customer accounts manager

    1 May 2008

    Link Lending has appointed Simon Tanner to the newly created role of customer accounts manager.

  • Loan values maintain brokers' income

    28 Apr 2008

    Latest figures on the equity release market show that in Q1 2008 the number of plans sold was down 16.5% compared with Q1 2007.

  • MAB sees remortgaging rise 27%

    28 Apr 2008

    The Mortgage Advice Bureau has seen its amount of remortgaging business rise 27% in Q1 2008 compared to Q1 last year.

  • Market watch 28 April 2008

    28 Apr 2008

    Swaps leapt up last week in the biggest weekly increases I can remember. I would hate to guess why but maybe it's because the Bank of England's £50bn Special Liquidity Scheme to get the banking sector moving again may mean inflation won't fall as far as it would have done if financial Armageddon fell upon us and borrowers couldn't afford to take out new mortgages.

  • MfB boosts staff numbers

    28 Apr 2008

    Mortgages for Business has increased the number of staff in its business-to-business operation. Mike Freeman, who previously worked for Mortgage Trust, has been appointed to manage MfB's technical desk and deal placement team.

  • Moody's revises HBOS and BOS outlooks to negative

    30 Apr 2008

    Ratings agency Moody’s has revised its outlook for HBOS and Bank of Scotland to negative.

  • Mortgage approvals drop 18%

    29 Apr 2008

    New mortgage approvals for house purchase dropped 18% in March compared with February, according to the British Bankers Association.

  • Mortgage Times Group places staff into consultation

    30 Apr 2008

    The Mortgage Times Group has put a number of staff on consultation, after a downturn in business.

  • Mortgages for Business reports best ever trading month

    28 Apr 2008

    Mortgage packager Mortgages for Business has seen a 154% increase in sales since March 2007, this is also their busiest ever month since the packaging operation of Mortgages for Business was set up in late 2006. Nick Blunt, head of business partner development at Mortgages for Business, says: “Contrary to some opinions across the market, packagers are even more necessary in the current climate. However, the packagers who are thriving in these difficult market conditions are the ...

  • MPLC starts to axe jobs

    1 May 2008

    Mortgages PLC has this morning told a significant number of staff they could face redundancy.

  • MS bids farewell to Alana Heaton

    28 Apr 2008

    Mortgage Strategy display sales executive Alana Heaton is joining London-based mortgage firm Alexander Hall to train as a broker.

  • Nationwide direct product under fire

    28 Apr 2008

    Nationwide is the latest high street lender to come under fire for allegedly undercutting brokers.

  • Nationwide joins the gang of lenders that seem happy to undermine brokers

    28 Apr 2008

    It was with dismay that I learnt recently of another lender happy to undercut the products available to brokers with better ones in branches. Most readers will already be aware of Woolwich's tracker deal as well as the stance of Principality and I'm sure there are a few other culprits too, but now Nationwide has joined this group.

  • Nationwide reveals sixth month of falling prices

    30 Apr 2008

    Nationwide's April house price index shows that house prices have tumbled for the sixth month running.

  • Nearly 60% of home owners eligible for mortgage holidays

    28 Apr 2008

    MoneyExpert.com is urging home owners to check the terms of their mortgages because 58% could be eligible for a break from their monthly payments.

  • Norwich Union beefs up LTV rates

    28 Apr 2008

    The equity release provider is enhancing its lifetime mortgage product range by increasing its LTV on all fixed rate and providing cash reserve option.

  • NR shareholders seek legal review

    28 Apr 2008

    A potential legal battle between Northern Rock shareholders and the government took a step closer to court recently after Treasury lawyers rejected investors' pleas for fair compensation. The UK Shareholders' Association will now seek a judicial review of the decision to base payouts on the assumption that NR was unable to survive without public support. The association says the Treasury's stance makes NR shares worthless.

  • NR submits plan for job cuts

    1 May 2008

    Northern Rock has submitted details of proposed staff cuts to the Department for Business Enterprise and Regulatory Reform.

  • NU says equity release has withstood credit crunch

    1 May 2008

    Norwich Union has asserted that equity release is still a viable option, despite recent figures showing a downturn in the sector.

  • Our house is burning down, says AMI director

    28 Apr 2008

    The director of the Association of Intermediaries has compared the mortgage market to a burning building and says urgent action must be taken.

  • Packager bosses are trying hard to rebuild confidence

    28 Apr 2008

    I read with interest the recent letter from Kevin Friend (Mortgage Strategy April 21) in which on one hand he applauds Terry Pritchard for doing everything he could to keep Chase UK going and on the other, urges bosses of other packagers to shut up shop.

  • Packager code to be shown to FSA

    29 Apr 2008

    The much anticipated mortgage packager code is to be shown to the Financial Services Authority for feedback, once it has been given the thumbs up by packagers.

  • Packager insures proc fees

    28 Apr 2008

    Just Mortgage Packaging has taken out an indemnity insurance policy to reassure brokers their proc fees are safe in its hands.

  • Packagers call on FSA to look at lenders’ dual pricing

    2 May 2008

    Packagers have called on the Financial Services Authority to look at the issue of dual pricing by lenders, as they fear it could go against the principles of Treating Customer Fairly.

  • Paradigm launches GI referral scheme

    1 May 2008

    Paradigm Mortgage Services, the mortgage partnership proposition, has launched a GI referral service for its members in conjunction with T&R Direct Insurance Services.

  • Paragon says rents up 4%

    1 May 2008

    Average rents have risen 4% during Q1 and 12% over six months to reach a new record of more than £1,000 per month, says Paragon Mortgages.

  • Persimmon halts new building

    28 Apr 2008

    Persimmon Homes has blamed market turmoil for its decision to halt future building developments. The house builder says sales have plummeted and that it will resume building when the mortgage market returns to normal. Stuart Law, chief executive of Assetz Finance, says: "With the number of new-build properties set to decrease, we are moving away rather than towards the government's housing targets."

  • Personal insolvencies and IVAs rise in Q1

    2 May 2008

    Personal insolvencies rose by 1.7% over Q1 2008 to 25,264 and individual voluntary arrangements rose by 4.3% to 9,614.

  • Pink in consultation over redundancies

    30 Apr 2008

    Pink Home Loans has confirmed that around 30 people are facing redundancy as part of a company restructuring programme.

  • PMPA calls on lenders to give more notice for product withdrawals

    28 Apr 2008

    The Professional Mortgage Packagers Alliance is calling on lenders to review their position and ensure more reasonable notice on the withdrawal of products, allowing enough time for pipeline business to be processed.

  • PMPA enhances due diligence procedures

    28 Apr 2008

    The Professional Mortgage Packagers Alliance is to have greater information sharing by members and other stakeholders, which will enhance its due diligence procedures.

  • PMPA urges lenders to give more notice

    28 Apr 2008

    The Professional Mortgage Packagers Alliance is calling for lenders to give more reasonable notice when withdrawing products.

  • Promise makes 70 redundancies

    28 Apr 2008

    Promise Finance has shed up to 70 jobs after going into administration. The Wolverhampton-based firm decided to close its business-to-client operation due to worsening market conditions but will continue to operate in the business-to-business sector.

  • Property prices fall for seventh month running

    28 Apr 2008

    A Hometrack survey has revealed a drop in house prices across 51% of the UK, making this the seventh consecutive month of falling av-erage property values.

  • Pru reports £51m in Q1 advances

    29 Apr 2008

    Prudential has reported its highest sales in a quarter since entering the lifetime mortgage market in 2005.

  • PTFS chairman urges lenders to end dual pricing

    1 May 2008

    The chairman of Personal Touch Financial Services is calling for lenders to halt the practice of dual pricing and undercutting the broker market.

  • PTP extends opening hours to cope with demand

    30 Apr 2008

    Personal Touch Packaging, has extended its opening hours to cope with demand from brokers.

  • PTP opens early to support brokers

    30 Apr 2008

    Personal Touch Packaging is opening its doors early every morning from now on to accommodate increased demand from brokers.

  • Readers think US-backed lenders will survive

    28 Apr 2008

    last week's Mortgage Strategy Online poll shows that 55% of readers are optimistic about the prospects for UK lenders with US parents and think they will be around this time next year, while 45% think UK subsidiaries may face the axe.

  • Recession not expected, says IMLA survey

    30 Apr 2008

    A survey by the Intermediary Mortgage Lenders Association reveals 44% of respondents expect two quarters of negative economic growth, but none expect a recession.

  • Red Roar

    28 Apr 2008

    Not too many Riises to be cheerful for Mole at Anfield last week as his beloved Liverpool dropped a shocking 95th minute clanger against a dismal Chelsea.

  • Remortgaging tops broker business

    28 Apr 2008

    Research carried out for Mortgage Strategy reveals the importance of remortgaging to brokers.

  • Repossessions set to soar by a quarter

    28 Apr 2008

    Home repossessions are set to climb by nearly a quarter this year, a report from the Centre for Economics and Business Research warns.

  • Rightmove sounds warning over house prices

    28 Apr 2008

    Rightmove is warning there could be an overcorrection in house prices if confidence between lenders does not improve.

  • Rights issue rumours loom over HBOS

    28 Apr 2008

    HBOS is rumoured to be launching a rights issue this week to bolster its capital base by £4bn.

  • Robust remortgage levels paint brighter picture

    30 Apr 2008

    Robust remortgage volumes represent a truer reflection of the current mortgage market than current newspaper headlines, says Hometrack.

  • Safety in numbers

    28 Apr 2008

    Thanks to the credit crunch and increasing regulation there has never been a better time for brokers to join networks, says Christine Toner

  • Salt Commercial suspends new lending

    2 May 2008

    Salt Commercial has suspended new business and put a number of staff into consultation.

  • Salt cuts packager panel to eight

    29 Apr 2008

    Specialist lender Salt has slashed its packager panel from 46 to just eight packagers, covering six companies.

  • Salt retains CMLS after restructure

    28 Apr 2008

    Salt has retained Complete Mortgage and Loan Services as one of its select packagers following a reorganisation of its packager panel. Complete says lenders are looking to form stronger relationships with larger distributors.

  • Sharing can add Edge to survival

    1 May 2008

    Lower specialist mortgage business volumes will continue this year, forcing operations to become more efficient. Packagers and networks that work together via shared technology will enhance their chances of survival. The Edge v2 system is a top contender in this area

  • Sir Derek Higgs, chairman of A&L, dies

    29 Apr 2008

    Alliance & Leicester chairman Sir Derek Higgs, 64, was taken ill on Monday 28 April and died in a London hospital during the afternoon.

  • Small firms must partner the big boys

    28 Apr 2008

    Lenders are likely to cut smaller brokers out of their work thanks to prevailing market conditions so to survive they must seek out relationships with bigger brokerages, says Rob Clifford

  • SMS launches TCF and debt solution roadshows

    2 May 2008

    Solent Mortgage Services is undertaking a series of nationwide seminars and workshops to highlight the importance and application of Treating Customers Fairly.

  • SMS to run debt management seminars

    2 May 2008

    Solent Mortgage Services is to run a number of workshops in May and June to offer help on providing debt management solutions to ensure brokers continue to treat customers fairly.

  • Solent Mortgage Services signs up to Gravity

    1 May 2008

    Solent Mortgage Services has become the fourteenth packager to sign up to Gravity.

  • Some protection is better than none

    28 Apr 2008

    Research recently published by LifeSearch provides an insight into the contemporary protection industry.

  • Spicerhaart to launch service with Tesco

    30 Apr 2008

    Spicerhaart and Tesco are holding talks over the creation of an online estate agency service.

  • Stonehaven joins Paradigm's equity release panel

    30 Apr 2008

    Paradigm Mortgage Services has added equity release specialists, Stonehaven, to its equity release provider panel.

  • Striking Back

    28 Apr 2008

    So with the gruesome events at Anfield thankfully already a fading memory, Hall and Toner are poised to take the Stamford Bridge stadium by storm courtesy of those kind folk at Chelsea, as Liverpool take their revenge this Wednesday.

  • Sub-prime won't return to pre-crunch levels

    28 Apr 2008

    LEADING trade bodies have given the clearest sign yet that sub-prime lending will never return to the high levels seen before the credit crunch.

  • Swift cuts broker panel and introduces quotas

    28 Apr 2008

    Swift is no longer accepting business from new brokers in the secured loan market, and instead will deal with what is thought to be 16 master brokers who will each have monthly quotas.

  • TFC Homeloans urges brokers to make use of technology

    1 May 2008

    Specialist mortgage distributor TFC Homeloans, part of the Orbiter Group of companies, is urging brokers to make the most of the information systems available to them in order to identify remortgage leads from their client lists.

  • TFC urges brokers to capitalise on IT

    1 May 2008

    TFC Homeloans has urged brokers to make the most of the information systems available to them in order to identify remortgage leads from client lists.

  • The Debt Advisor predicts increase in IVAs

    2 May 2008

    Figures published today by the Insolvency Service show the number of personal insolvencies reached 25,264 in the first quarter of 2008, an increase of 1.7% on the previous quarter.

  • The Germans worry like it's 1929

    28 Apr 2008

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

  • The mortgage drought anomaly

    29 Apr 2008

    On Wednesday 29 April Lending Strategy is holding a mortgage funding conference in Manchester to explore how the different providers in the mortgage chain can work together to ease the mortgage drought.

  • Tim Hague appointed director of savings at BM

    30 Apr 2008

    BM Solutions’ managing director Tim Hague has been redeployed to head up the Birmingham Midshires savings and investments team.

  • Time to break big lenders' stranglehold on the market

    28 Apr 2008

    It's about time the Competition Commission investigated the stranglehold that HBOS and a handful of other len-ders including Abbey, the Royal Bank of Scotland, Lloyds TSB/Cheltenham & Gloucester and Nationwide have on the mortgage market.

  • TMB appoints BDM for West and South West London

    28 Apr 2008

    TMB has appointmed Rob Field as business development manager for the West and South West London areas.

  • UBS may cut 8,000 jobs

    28 Apr 2008

    UBS is expected to cut 8,000 jobs when it reveals its Q1 results on May 6.

  • UKSA calls for backing to block Rock share terms

    30 Apr 2008

    The UK Shareholders Association is calling on disgruntled Northern Rock shareholders to back its court battle to block the government's valuation of shares in the nationalised bank.

  • Vendors face 50% chance of sale falling through

    29 Apr 2008

    Property sellers face a one in two chance of their sale falling through, research from Quickmovenow.com reveals.

  • Vision gets green light on insurance

    28 Apr 2008

    The Financial Services Authority has granted Vision Network permission to sell insurance and pensions. Vision plans to offer a full wealth management service.

  • Wave suspends new lending

    30 Apr 2008

    Merrill Lynch has confirmed that its UK subsidiary Wave is temporarily suspending new lending.

  • We must stop moaning and put out a positive message

    28 Apr 2008

    At the risk of alienating my peers, I have to say I'm sick and tired of brokers moaning.

  • What is the FSA Intermediary Fraud Initiative?

    1 May 2008

    Caroline Havers, partner at Salans

  • Will heavy sub-prime lending make a comeback to the mortgage market?

    28 Apr 2008

    One of our experts believes heavy sub-prime is dead while the other thinks a more risk-averse version of it will rise from the ashes eventually

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