Mortgage Strategy
28 August 2006

  • BDS unveils deals from BM Solutions

    28 Aug 2006

    BDS Mortgage Group has launched a range of minus base rate products from BM Solutions. The three products track the base rate with a minus percentage. The base rate minus 0.21% deal for two years is fees-free up to 90% LTV, the base rate minus 0.51% product for two years has a 1,499 fee, and the base rate minus 0.65% deal for two years to 90% LTV has a 1% fee.

  • Em- birthday sponsor

    28 Aug 2006

    em-Financial has revealed that Platform will be the title sponsor of its upcoming fifth birthday celebrations.

  • IHT is political battleground

    28 Aug 2006

    Inheritance Tax is being pumped as an important electoral issue that could see Labour win or lose a string of marginal seats in constituencies where the average house price is above the 285,000 threshold.

  • IHT is still a big issue for many

    28 Aug 2006

    Rocketing house prices and the need for financial security mean Inheritance Tax is still a key issue for many people despite the recent increase in thresholds, says the Association of Chartered Certified Accountants.

  • SMS named top packager

    28 Aug 2006

    Solent Mortgage Services has been named packager of the year by lending partner Preferred. This is the fourth time SMS has won this accolade.

  • A complicated addition to the market

    28 Aug 2006

    You might well wonder about the name Stonehaven and its background. Well, Stonehaven is the newest entrant in the equity release sector and it has not come to market without considerable preparation. As it launches its trial with a number of introducers, Stonehaven as well as the rest of the market will be looking to see whether it has got its offering right.

  • A mortgage that parents can pass on to children

    28 Aug 2006

    Kent Reliance last week launched a ground-breaking mortgage that allows parents to pass on their interest-only mortgage to their children.The inter-generational mortgage aims to help first-time buyers get on the property market, as well as slash the amount of Inheritance Tax the children would need to pay.Kent Reliance says it is more of a change in product criteria that allows the standard interest-only mortgage to be passed down, rather than a new product. But it technically ...

  • A rather silly silly season this year

    28 Aug 2006

    I've always been intrigued by the phrase 'silly season'. For a long time I was unsure when this fabled season visits. Was it an annual occurrence like a bank holiday or a moveable feast? At last I believe I've cracked it. It's clearly the late July to early September period when people are on their summer holidays and there's not much news.

  • Advisers say keep IT simple or we won't use it

    28 Aug 2006

    An overwhelming 90% of advisers say technology must be easy to use or they will stick with traditional paper methods, says Assureweb.The broker portal also says that 88% of brokers believe that for technology to work efficiency, proper training is essential.Stephen Wynne-Jones, director of sales and marketing at Assureweb, says: "The stigma attached to anything technological is ebbing away, particularly with the impact of portals."Jonathan Burridge, managing director at ...

  • AHIPP launches code of practice

    1 Sep 2006

    AHIPP is putting in place a code of practice for the whole Home Information Pack for its members.

  • Amber reports positive feedback to online DIP

    29 Aug 2006

    Amber says its underwriters and sales team have received positive feedback from brokers following the launch of its online decision in principle on June 27

  • AMI offers FSA support for depolarisation consultation

    28 Aug 2006

    The Association of Mortgage Intermediaries has offered its support to the Financial Services Authority's consultation on depolarisation but says changes still need to be made.The FSA has announced plans to consult on the impact of depolarisation and its disclosure documents in October and has instructed advisers to comply with its rules on disclosing product charges until then. The move is part of the FSA's consultation on the Markets in Financial Instruments Directive.Within ...

  • AVM market to treble, says Hometrack

    30 Aug 2006

    The market for Automated Valuation Models is set to treble in the next two years as mortgage lending remains strong and lenders increase their uptake of online valuation services to streamline and improve the mortgage application process, predicts Hometrack.

  • AXA in acquisition talks with Thinc Destini

    1 Sep 2006

    AXA UK is in advanced discussions with the board of Thinc Destini Group with a view to acquiring 100% of Thinc Destini.

  • Ayia Napa investor hotspot, says Assetz

    29 Aug 2006

    With Cypriot authorities clamping down on loud music and typical 18-30s antics, Ayia Napa is fast becoming an upmarket holiday destination and a serious hotspot for property investors, says Assetz.

  • Back political schemes to help FTBs

    28 Aug 2006

    Richard Coulson, chief executive, Home of Choice

  • Basinghall plans B2L debut with move away from AVMs

    28 Aug 2006

    New lender Basinghall Finance will enter the market with a buy-to-let proposition by the end of 2006 and will go against the tide in moving away from automated processes.Basinghall has been set up as a joint operation between UK firm Home Funding and European commercial bank West LB Capital Markets.Tony Ward, CEO of Home Funding, says Basinghall will enter the market discretely in the last quarter of 2006 with a buy-to-let proposition, before expanding into owner-occupier deals.The ...

  • BDS appoints group relationship manager

    30 Aug 2006

    BDS has appointed Di Moore as group relationship manager with immediate effect.

  • Beacon Homeloans appoints account manager

    29 Aug 2006

    Beacon Homeloans has appointed Bill Winters as account manager to cover the North and Scotland.

  • Beacon Homeloans joins ENC

    30 Aug 2006

    Beacon Homeloans is the latest lender to support the Enhanced Non Conforming sourcing module on Trigold.

  • Beacon Homeloans widens distribution with JMP

    29 Aug 2006

    Beacon Homeloans has appointed Just Mortgage Packaging as a distributor with immediate effect.

  • BM Solutions deals to allow 500 of CCJs

    28 Aug 2006

    BM Solutions has launched a sub-prime range of products to allow 500 worth of County Court Judgements.The 500 category includes rates at 5.15% for near prime customers and will sit alongside its existing near prime 1500 range for 1,500 worth of CCJs and near prime 3500 range for 3,500 of CCJs.The standard light, medium, heavy and unlimited categories still apply.New products in the near prime 500 range include a tracker at Bank of England base rate plus 0.40% then base rate ...

  • BoE figures reveal housing market in good health

    30 Aug 2006

    The July figures from the Bank of England show the UK mortgage market is in excellent health with a 10.9bn increase in the total net lending to individuals.

  • BoS wins awards

    28 Aug 2006

    Bank of Scotland Mortgages won three awards at the 2006 MoneyQuest Awards last week. As well as lender of the year, it also won awards for best technology in the mortgage category and lender business development manager of the year.

  • Britannia launches five-year fixed rate product

    31 Aug 2006

    Britannia is launching a new five-year fixed rate mortgage at 5,14%.

  • Brokers must build trust with clients

    28 Aug 2006

    The recent innovative move by Halifax to pay a full proc fee to an intermediary where they recommend a client to return to the lender has reignited the 'whose customer is it?' debate. This issue took up a proportion of the debating time at the Mortgage Summit in Jerez and was even the subject of Mortgage Strategy's cover feature last week

  • Build MPPI into all mortgage sales

    28 Aug 2006

    Advisers should treat MPPI sales as an integral part of mortgage sales to protect their clients from the threat of repossession and stay on the right side of the regulator, says Lee Titcumb

  • Building strength

    28 Aug 2006

    It is well known that we are building too few houses to meet our needs. The causes of this failure are many.

  • Buy-to-let sees best returns of 21st century

    30 Aug 2006

    As an investment UK buy-to-let has seen the best returns in the 21st century, new research from Landlord Mortgages shows.Investors who purchased a buy-to-let property with a deposit of 25,000 could expect to see a 39,309 profit (157%) over six years. This is significantly higher than the 415 (2%) achieved by those who invested in the FTSE 1004 over the same period.

  • Byers does have a point on IHT

    28 Aug 2006

    With the Conservatives pretty much having free reign to make political capital out of the housing market over the last couple of months, it was perhaps unsurprising that someone from the Labour Party finally struck back.

  • Canadian firm signs HIP deals

    28 Aug 2006

    Canadian property information firm MacDonald, Dettwiler and Associates has signed three exclusive five-year contracts with HIP providers in England and Wales.

  • Cartel signs up Amcat

    29 Aug 2006

    Mortgage intermediary Cartel Group Holdings has signed up Amcat to provide inbound, outbound and blended customer interaction system.

  • Clients in a compromising situation

    28 Aug 2006

    While the emphasis must be on brokers to manage their clients properly, the issue of customer ownership will only be resolved with a compromise, says Drew Wotherspoon

  • Commercial broking at a crossroad

    28 Aug 2006

    The commercial finance broking industry stands at a crossroad. Intermediaries have existed for many years but customer loyalty to banks has meant that only a small percentage (about 15%) of commercial mortgage business is written through brokers.

  • Complaints over BBB reach 300

    28 Aug 2006

    The Financial Services Compensation Scheme says it is aware of at least 300 complaints relating to mis- selling by Berkeley Berry Birch Network, which it declared in default last week, allowing consumers to claim compensation.Following the sale of assets from BBB Network - formerly known as Berkeley Independent Advisors - to Tenet Group in March and its descent into administration, the liability for complaints now lies with the FSCS.The Tenet Group, which took on the liability ...

  • Complete adds Salt to lender panel

    31 Aug 2006

    Complete Mortgage and Loan Services has added Salt, the Derbyshires specialist lending brand, to its lender panel

  • Completions up by 4bn at PMS

    28 Aug 2006

    Premier Mortgage Service has increased its mortgage completions by almost 4bn compared with the same period last year.Figures from its half-year results show completions of 16.7bn from January to June, compared with 13bn last year. Applications in the first half of last year stood at 18bn, compared with 22.8bn in the first half of 2006.PMS says the results puts it in a good position to achieve its full-year target of 44bn applications and 33bn of completions. It says it has ...

  • Conference for credit industry

    28 Aug 2006

    Callcredit is to host a one-day conference for credit industry leaders to address the future of the UK economy, the consumer lending industry and consumer behaviour. The 'Predicting the Future' conference will take place at the Marriott Forest of Arden Hotel & Conference Centre on November 1.

  • Conspiracy theorists should look into Nationwide case

    28 Aug 2006

    From Dave RogersI was shocked at a scandalous accusation recently levelled at Nationwide in Mortgage Strategy (August 21). So shocked that I fired up my laptop only to find that Nationwide was indeed still quoting the base rate as 4.5% via Homebuyer. No, I don't think JFK's death was a conspiracy, nor do I believe the lunar landings were faked or even that Freddie Starr ate anyone's hamster, but this is something for conspiracy theorists to get their teeth into.

  • Cost of remortgaging over 1,000 says Abbey

    1 Sep 2006

    Abbey estimates that the average upfront cost of remortgaging to a new deal can be around 1,100 including booking and valuation fees.

  • Curriculum Vitae

    28 Aug 2006

    Name: Alison Beech

  • Dear Delia

    28 Aug 2006

    Dear Delia: In common with other mortgage brokers I have been following the debate surrounding payment protection products with interest. Is there a mortgage payment protection product that I can recommend and be secure in the knowledge that I am offering best advice?

  • Destined for growth

    28 Aug 2006

    There's no pleasing some people. Just when you thought mortgage lenders were doing everything humanly possible to give borrowers maximum flexibility, along comes a survey that suggests customers want a lot more.

  • Detached property shortage sparks price rise, says Linden Homes

    30 Aug 2006

    The severe shortage of detached family homes in the UK has resulted in an average 6% price rise, compared to a 2% rise in apartment prices over the last 12 months, reports Linden Homes.

  • Don't moan when staff take a break

    28 Aug 2006

    Holidays allow us to crystallise our thoughts, plan and return to work with renewed vigour so bosses who complain about staff taking legitimate breaks are short sighted, says Sue Read

  • Doubts over rollout of HIPs

    28 Aug 2006

    Brokers and lenders have questioned how successful the voluntary rollout of Home Information Packs by the Association of HIP Providers will be.The first stage of AHIPP's regional rollout of HIPs and Home Condition Reports will take place from November 6 in Southampton, Bath, Northampton, Newcastle, Cambridge and Huddersfield.But Malcolm Graham-Jones, head of lending at Bath, says AHIPP is "living on another planet".He adds: "People will see a voluntary HIP as a hassle, so ...

  • Easier2Move appoints BDM

    30 Aug 2006

    Easier2move has appointed Gordon Bell as a lender focused business development manager.

  • Edeus hits 5,000 broker target early

    28 Aug 2006

    Edeus has signed up its 5,000th intermediary. It reached the mark - its target for the end of this year - just 10 days after it launched online.

  • Em- predicts price war after edeus launch

    28 Aug 2006

    Em-financial has predicted that a lender price war will determine the winners and losers in the mortgage market when edeus finally launches in September.Roger Morris, managing director of em-Financial, says he expects rates to improve when the new lender begins trading."The lenders that are wise are sitting on a mountain of cash ready for a price war in September. Lenders that have planned ahead for this price war will gain market share," he says.Morris believes the likes ...

  • Endowment claims firm launched

    28 Aug 2006

    Destiny Business Services has launched Endowment Fighters, a business that aims to reshape the claims management and endowment market.

  • Entrants can't shake HBOS dominance

    28 Aug 2006

    Unless you've been asleep or out of the country for the past few months, you'll have heard of Michael Bolton's new lender edeus. While there's been loads of hype surrounding its launch next month, what has taken me by surprise is the rumour that it is to unveil an amazing 650 products.

  • Era of automated valuations dawns

    28 Aug 2006

    Automated valuation models will play a much larger part in the mortgage industry in this country now rating agencies have given them the green light, says Frank Eve

  • Exclusive deals from GreenBank

    28 Aug 2006

    GreenBank Mortgage Services has launched exclusive products with The Mortgage Business and Swift 1st. In its TMB line-up is a self-cert tracker with 500 cashback and a refund of valuation fee, and a buy-to-let House 2 House tracker. The Swift products allow unlimited adverse with discounted rates from 6.33% to 80% LTV.

  • First and Last

    28 Aug 2006

    I think back to my first mortgage and to a time of hope over experience and I wonder why building societies were so stupid. I was graduating from business school and wanted a smart flat in Pimlico in London for 22,500. But my Halifax manager said my maximum advance was 15,000 and that single men shouldn't need more.So I went to a mortgage broker for a 3,000 second charge from Norwich Union, my employer for a 4,000 unsecured overdraft and my father for money for fittings. My indebtedness ...

  • First packager for LMS remortgaging service

    28 Aug 2006

    Personal Touch Packaging is the first firm to sign up for LMS' new remortgaging service for packagers.The LMS system is designed to make remortgaging easier and a better experience for clients through the use of features such as automated documentation and personal contact.Rob Jupp, managing director of Personal Touch, says: "The system is fully automated and takes seconds, rather than hours or days, to process information. It collates data at the front end and pre-fills questionnaires ...

  • Flexible-mortgage appoints sales director

    29 Aug 2006

    Flexible-mortgage.net has appointed Arron Bardoe as sales director.

  • FSA advises advisers on advising

    28 Aug 2006

    A recent piece of Financial Services Authority work on the quality of advice was designed to help firms improve their practice and is relevant to the all-pervading topic of Treating Customers Fairly. The FSA describes this as one of the largest pieces of thematic work it has undertaken, with the objective of providing firms advising consumers on financial products with help on how to improve their advice processes and cut the risk of mis-selling.

  • FSA appoints five to consumer panel

    31 Aug 2006

    The Financial Services Authority has appointed five members to the Financial Services Consumer Panel.

  • FSA fines friendly society

    28 Aug 2006

    The Financial Services Authority has fined The Ancient Order of Foresters Friendly Society 55,000 for financial promotions failings, including substandard television adverts and direct offer packs which targeted the elderly.This is the first time the FSA has fined a friendly society for financial promotions failings.

  • FSA to simplify approved persons regime

    31 Aug 2006

    The Financial Services Authority has issued a consultation paper outlining a new proposal to merge the customer functions in the approved persons regime in response to feedback from the industry.

  • GE denies claims about advisers' commissions

    28 Aug 2006

    GE Money Home Lending has refuted accusations that advisers failed to disclose commission payments on a number of its sub-prime mortgages and loans.It has been reported that claims firm Loancheck has documents showing that commission was not disclosed on two cases by GE subsidiaries.Loancheck has confirmed to Mortgage Strategy that it has other cases against GE, which it is believed it will take up when it launches officially in September.However, GE claims Loancheck ...

  • Government under pressure to increase IHT threshold

    28 Aug 2006

    The government is coming under increasing pressure to raise the threshold of Inheritance Tax after a week of fierce political debate.Leading Blairite Stephen Byers resurrected the argument, publicly calling for the abolition of the tax. He was quickly contradicted by trade and industry secretary Alistair Darling, who says an anti-IHT stance doesn't make a prudent or sensible tax-and-spend policy.The Conservatives also slammed Byers, accusing him of merely trying to get one over ...

  • Great time to sell endowments

    28 Aug 2006

    There has never been a better time to sell an endowment, figures from the Association of Policy Market Makers reveal. Brian Goldstein, chairman of the APMM, says high demand for traded endowment policies mean consumers could realise top prices.

  • Halifax reinstatement policy is branded unfair

    28 Aug 2006

    Halifax has been accused of treating customers unfairly by not supplying reinstatement costs on its purchase valuations as standard.Danny Lovey, sole broker at The Mortgage Practitioner, says that by not giving reinstatement costs on level one valuations as standard Halifax is not only falling foul of the Treating Customers Fairly initiative but could also be being anti-competitive.Although the lender supplies this information on its level two and three valuations, customers ...

  • Hamptons' business rockets by 87%

    28 Aug 2006

    Hamptons Mortgages has reported a whopping 87% rise in business over the last three months compared to the same period last year.June, July and August saw record- business at the London-based brokerage, coinciding with rocketing gross mortgage levels across the industry - the Council of Mortgage Lenders reported gross mortgage lending of 30.4bn for July alone.However, the brokerage isn't complacent and is looking to expand to even greater heights in 2006. As a result it is looking ...

  • Hedge fund eyes US servicing platform

    28 Aug 2006

    Cambridge Place Investment Management - a London-based hedge fund manager backed by Trigold founder Martin Finegold - is rumoured to be looking to buy a US servicing platform to cash in on the expected boom in sub-prime delinquencies.CPIM, in which Finegold is a partner, declined to comment on the rumours, but one US adviser, who asked not to be named, says Cambridge wants to purchase a servicing platform that can handle sub-prime loans.The source adds: "It isn't interested ...

  • HML appoints Smith as MD

    28 Aug 2006

    Homeloan Management has made Mark Smith managing director. He will report to Steve Haggerty, whom the company has appointed chairman following his promotion to group commercial director of parent group Skipton.

  • Hometrack AVM for edeus

    28 Aug 2006

    Edeus has confirmed Hometrack will be supplying its automated valuation model for its point-of-sale offer proposition when it launches in September.Although the new lender intends to do most of its business through a POS-O system, Alan Cleary, managing director of edeus, says the waters are untested, so it only expects to do a small percentage of business in this way at first. He says: "We have low expectations of how much business will be done using POS-O on day one ...

  • Housing market still strong, says Stubbs

    31 Aug 2006

    David Stubbs, RICS economist, says the Nationwide house price figures show the market is buoyant.

  • How important is owning a property to you?

    28 Aug 2006

    TORY LEADER David Cameron recently mooted proposals for a new type of Right to Buy scheme with the aim of increasing home ownership by converting rental payments on social housing into mortgage repayments. But does the public think owning property is all that important?So, this week Mortgage Strategy asks...

  • HSBC launch

    28 Aug 2006

    HSBC has launched the first of 80 commercial banking centres, in Swansea.

  • ID responsibility

    28 Aug 2006

    Brits do not hold lenders or the police responsible for protecting people against ID theft, research from online credit report service MyCallcredit reveals.

  • Industry must cooperate to integrate

    28 Aug 2006

    Technology has revolutionised the application process for mortgages. It's now not a matter of if the goal of instant mortgage offers will be achieved but when. But all companies involved in the mortgage industry need to apply this same level of technological innovation and imagination to every area of the process for the market to advance.

  • Inheritance Tax should be scrapped

    28 Aug 2006

    Amid continuing reports of significant increases in house prices, Jean's story is a cautionary one and very much a tale of our times.

  • Interbay launches seminar programme

    1 Sep 2006

    InterBay, the commercial mortgage lender, is launching a programme of 11 seminars across the country to provide commercial mortgage knowledge to brokers.

  • Interest-only deals are not FTBs' biggest problem

    28 Aug 2006

    From Thomas Reeh  Is it me or are others also getting tired of Isabelle Kassam's rants on subjects she clearly has a poor grasp of? Her gem of August 21 was entitled 'Interest-only trap could snare FTBs'. Kassam is selective in her use of Council of Mortgage Lenders facts and not surprisingly brokers are held to be at fault. And of course that old favourite word came in again - dodgy. Let's set the record straight. First-time buyers are having to dig ever deeper. According ...

  • Interest-only is not always a bad thing

    28 Aug 2006

    From Thomas ReehFollowing a brief surge in popularity, interest-only mortgages are generating a lot of negative interest in the media.Interest-only mortgages have had a bit of an image problem since the endowment mis-selling problems of the 1990s. Acres of newsprint are still devoted to the problems faced by people who were mis-advised and found that their endowment policies were going to pay less than expected, while the advertising market has been kept afloat by compensation ...

  • John Charcol incorporates xit2 Valuation Exchange

    30 Aug 2006

    John Charcol has incorporated the xit2 Valuation Exchange into its branch and online application process to provide an online system for its panel mangers, SecureMove Panel Management Services and Colleys.

  • July lending reaches 19bn

    28 Aug 2006

    Further lending figures from Major British Banking Groups show July's gross mortgage lending was 19bn, some 7% below the record figure of 20bn in June, though 19% higher than the 16bn in July last year.

  • Keeping pace with medical advances

    28 Aug 2006

    It would be reassuring to know that within the next 10 years we'll be able to scan, screen or test for the most debilitating illnesses quickly, followed by swift, effective treatment. And when you look at the medical advances of the past couple of months it's easy to believe that anything is possible.

  • Kent boom

    28 Aug 2006

    Kent Reliance took more than 10 times its usual share of new savings and mortgages business in the six months to June 30.

  • Key appointments at Enterprise

    28 Aug 2006

    Enterprise Group has made four key appointments to its senior management team. Liam Dixon, Simon Jacobs and Jorge Monte have been appointed as service quality managers, with Marie Hughes appointed as head of underwriting.

  • KRS shows support by joining AMI

    28 Aug 2006

    Key Retirement Solutions has joined the Association of Mortgage Inter- mediaries just one month before its equity release working party is due to vote on becoming a permanent fixture within the trade body.Working parties within AMI have finite lives, but the next AMI working group meeting will be to discuss the creation of a separate equity release body under the AMI umbrella.Although it is not yet clear what structure the working group will take if the vote is positive, ...

  • Labour should forget about HIPs

    28 Aug 2006

    The government must drop the duff idea of Home Information Packs or Michael Coogan will find he is the scapegoat when things go pear-shaped, says Justine Tomlinson

  • Leaving brokers with nowhere to churn

    28 Aug 2006

    There's something particularly appealing about a building society chief executive. It's the thrill of power. The same charisma that makes normally sensible women throw themselves at deputy prime ministers exudes from the pores of those chaps in suits who make big decisions about consumers' finances between the next game of golf and the last glass of port.

  • Lenders keep market heart pumping

    28 Aug 2006

    Housing is something of a national obsession and our culture sometimes seems to be fixated on the value of our houses. As for those who haven't already bought a house, there's a fair chance that they are focussed on remedying that perceived problem at the earliest opportunity. In fact, virtually everyone has an opinion and an interest in the property market at one level or another.

  • Lenders take flak over PPI

    28 Aug 2006

    Payment protection industry pundits have slammed lenders for hijacking the industry and giving it a bad name.Providers say the PPI industry has been taken over by big lenders and high street retail banks, and they predict the mortgage payment protection industry is in for the same fate if lenders aren't stopped.Shane Craig, managing director of Paymentcare, says: "The recent report from the Office of Fair Trading confirms what brokers and advisers know about PPI - that it is ...

  • Lenders that treat brokers unfairly risk losing out

    28 Aug 2006

    From Lee Martin Like any other broker I do this job be-cause when it goes well it is satisfying, we get paid enough and the hours are flexible. But some lenders have a lot to learn about Treating Customers Fairly. I am the lender's customer. I decide if a lender gets my client's business and I have the power to exclude who I want, particularly when I am treated like a second class citizen. Brokers' lives are made harder by lenders with the following standards - 48-hour ...

  • Let's get a few things clear about HIPs

    28 Aug 2006

    There are now just nine months to go before Home Information Packs are born. There has been considerable concern expressed about this initiative, resulting in the government being forced to step down over the thorny issue of Home Condition Reports.

  • Let's hope edeus lives up to the hype when it launches

    28 Aug 2006

    From Crawfurd HillAs a one-time managing director of a PR company, I must doff my cap to the PR brigade spending the edeus buck to get its brand in front of us partially receptive intermediaries. In the history of launches in this sector surely no firm has managed to secure the column inches - nay metres - that Michael Bolton's modest and retiring team has, especially in Mortgage Strategy. Clearly, money spent on PR has hit its target. Three bylines in a recent issue ...

  • Lifetime deal relaunched

    28 Aug 2006

    Woolwich has relaunched its lifetime tracker mortgage, which is guaranteed to stay at 0.19% above the base rate.

  • LIME launches commercial mortgage proposition

    29 Aug 2006

    Tenets Lifetime Insurance Mortgage Experts network has launched LIME Commercial, with the aim of simplifying the process around commercial lending and the different routes to do business.

  • Little Deed

    28 Aug 2006

    Openwork, a 2,350-strong multi-tie network, was launched in June 2005 when the UK's Olympic bid was still in doubt, the McCartneys were a happy couple and the finance industry was beginning to adjust to depolarisation. The exclusive multi-tie business was developed to meet the growing need for financial advice in the UK, offering clients and advisers choice, while still being a profitable business. Openwork is a limited liability partnership, with advisers and employees owning 75% ...

  • Lloyds TSB launches fully flexible mortgage

    30 Aug 2006

    Lloyds TSB has launched a fully flexible mortgage to give customers complete control of the structure and cost of their loan throughout the whole mortgage term, meaning they never have to switch their mortgage again.

  • Marathon Money

    28 Aug 2006

    Duffy's Dirty Dozen

  • Market Watch

    28 Aug 2006

    Swaps fell sharply last week with the longer term swaps falling much further than the shorter ones. Hopefully this should mean the end of lenders repricing their fixed rates upwards for a while and if we see more falls in the future we may see some cuts. However, my guess is we're a couple of weeks away from that at the moment.One-year money is down 0.04% at 5.20%Two-year money is down 0.12% at 5.14%Three-year money is down 0.14% at 5.13%Five-year money is down 0.15% at 5.07%

  • Marketing Brief

    28 Aug 2006

    The Nottinghamwww.thenottingham.com

  • Me & My Car

    28 Aug 2006

    Mark Leaper's Chrysler Crossfire is impractical and guzzles gas. But its gadgets and powerful engine are enough to keep him going over the many business miles he covers every year

  • MEX unveils self-cert fixes

    28 Aug 2006

    Mortgage Express has launched a range of two-year fixed rate deals on self-cert mortgages.

  • Moneyquest restructures business

    28 Aug 2006

    MoneyQuest has revamped its business by taking on 150 new staff, expanding operating hours and restructuring its board.The move was revealed by newly-installed managing director Paul Reynolds at the official opening of the Scottish mortgage insurance and loan brokerage's new headquarters in Glasgow. Reynolds was formerly operations director at the firm.Previous managing director Steve Pollard is to become the company's first chief executive officer, focussing on the expansion ...

  • More landlord cover taken out

    28 Aug 2006

    There has been an 88% rise in the number of landlords' building and contents insurance policies taken out in the past 12 months, says Paymentshield.

  • More lender restraint would help FTBs

    28 Aug 2006

    We suffered wall-to-wall trauma in the Mounty household recently - A level results. Need I say more?

  • Mortgages plc and Kensington to sponsor em-financial event

    30 Aug 2006

    em-financial says two of the five affiliate sponsors for its upcoming em-5 in association with Platform will be Kensington and Mortgages plc.

  • MS unearths legendary Montlake album

    28 Aug 2006

    In a moment equal to when the lost John Lennon recordings were rediscovered, Mortgage Strategy has unearthed a copy of Cobalt Capital partner Andrew Montlake's legendary lost album The Temple Sessions.One of the 10 CDs that Montlake made in 2000 arrived at Mortgage Strategy's offices last week.The album is a series of romantic ballads detailing lost loves and more casual encounters.Mortgage Strategy contacted music website Music-news.com to see what ...

  • Nationwide base rate row goes on

    28 Aug 2006

    Nationwide has come under fire again over the way it displays the Bank of England base rate on sourcing systems.Last week Mortgage Strategy re-ported that the society had asked sourcing system Trigold to change the base rate back to 4.5% on its system despite the recent 0.25% increase.One broker claimed Nationwide was falsely advertising its products in an attempt to gain customers.But Nationwide says the incident was a misunderstanding caused by communication problems ...

  • Nationwide slashes rates

    31 Aug 2006

    Nationwide has cut its rates on its range of fixed rate mortgages.

  • New entrants must bring fresh ideas

    28 Aug 2006

    I was surprised to read recently that the Financial Services Authority had received 28 applications for new lenders entering the market in 2006. I can only think of six - and most of those aren't bringing anything exciting to the table.

  • New lenders face a tough market, says Pink's MD

    28 Aug 2006

    Tony Jones, managing director of Pink Home Loans, has questioned whether now is the right time for new lenders to enter the market.He says the uncertainty of the housing market and predictions of an increase in the number of repossessions will not make it easy for new entrants.He adds: "There are a lot of new players entering the mortgage lending market and we have to question whether the timing is right. The Bank of England chose to increase the base rate by 0.25%, which would ...

  • Norwich Union increases rates on lifetime mortgage

    1 Sep 2006

    Norwich Union is raising the interest rates on its fixed rate lifetime mortgage and cash reserve option plan from Monday September 4, 2006. The interest rate on the fixed-rate lifetime mortgage introduced by intermediaries will be 6.35%(6.6% APR) and the previous rate was 6.25% (6.5% APR).

  • One in five FTBs rely on family rather than MPPI

    28 Aug 2006

    One in five first-time buyers say they would rather rely on friends and family to pay their mortgage than take out payment protection in the event of losing their jobs.This apparent lack of faith in mortgage payment protection products comes as research by the Post Office shows that half of first-time buyers could only pay their mortgage for six months if they lost their job. Almost the same percentage, 45%, don't have any form of MPPI.The Post Office says with the average deposit ...

  • Online forum

    28 Aug 2006

    Newly launched chat room and forum 1BigTable aims to let brokers and IFAs share views.

  • Online option from Mortgage Choice

    28 Aug 2006

    Mortgage Choice has launched the next phase of its IT programme by offering brokers access to online applications from its 10 lenders.

  • Only 57% back Conservative Right to Buy scheme

    28 Aug 2006

    Just 57% of Mortgage Strategy Online readers think the Conservatives' revamped Right to Buy scheme is a vote winner.This is despite a recent poll showing the Conservatives to be finally making headway and ahead of Labour.This week Mortgage Strategy asks: "Would you advise a first-time buyer to take out a 'death bed' mortgage?"

  • paaleads launches telephone leads service

    30 Aug 2006

    paaleads.com has launched a new telephone qualified mortgage leads service called Qualified by Telephone.

  • Personal possession cover up 23%

    30 Aug 2006

    There has been a 23% increase in the take up of personal possession cover over the last 12 months, figures from Paymentshield have revealed.

  • Pink survey

    28 Aug 2006

    Pink Home Loans will launch its 12th 1000 Index Survey on September 29.

  • PMPA adds UCB to lender panel

    31 Aug 2006

    The Professional Mortgage Packagers Alliance has added UCB Home Loans to its lender panel.

  • Poll shows disaffection for Brown

    28 Aug 2006

    Figures from a Guardian/ICM poll show that just 37% of Britons feel that chancellor Gordon Brown should take credit for the success of Britain's economy since Labour came to power.A whopping 83% of people also agree with the statement that since Labour came to power in 1997 the average person finds it harder to afford somewhere to live, while 77% say they have become more selfish about money.The poll also shows a strong Conservative lead, with 40% saying if there was ...

  • Prefferred freezes fixed rate mortgages

    1 Sep 2006

    Preferred will not be increasing rates on its fixed rate mortgages.

  • Prices to rise 10% in two years

    28 Aug 2006

    The costs of buying and owning a home are almost the worst for over two decades and are set to worsen further, says the Royal Institution of Chartered Surveyors. It predicts house prices will rise by 10% in the next two years.

  • Primrose to integrate in real time with lenders

    28 Aug 2006

    Primrose has confirmed that it is finalising plans to offer full real-time integration with four lenders and provide brokers with point-of-sale binding decisions via its evaluate technology.Kevin Friend, national accounts director at Primrose, says it is working with GMAC-RFC, Advantage, Kensington Mortgages and Platform to integrate with their systems in time for its launch on September 4. Integration with six other lenders on its panel will follow.In the longer term, Primrose ...

  • Review: The Temple Sessions

    28 Aug 2006

    If ever there were proof that art and finance can mix it can be found in the songs of Andrew Montlake.A Neil Diamond of his day, Montlake sings of romance and casual liaisons. Unlike many of today's musicians, Montlake plays his own instruments and the gentle strumming on the guitar conjures up a summery mood that complements the widely amorous lyrics that explore melancholy memories and "velvet starlight".In Personal Touch (no relation to the mortgage network) Montlake ...

  • Rightmove's operating profit up by 138%

    1 Sep 2006

    Rightmove has released it interim results for the six months to June 30, 2006 showing that operating profit grew by 138% to 8.3m, before Home Information Pack project costs, flotation costs and share option charges.

  • Road shows are key for advisers, says Prudential

    31 Aug 2006

    New research from Prudential reveals that the majority of financial advisers think that roadshows play a key role in terms of them learning more about the Equity Release market.

  • Seminar series

    28 Aug 2006

    Threesixty is staging seminars over the next month on protection.

  • Skipton fixed rate

    28 Aug 2006

    Skipton has launched a 10-year fixed rate mortgage at 5.29% for loans up to 75% LTV and 5.39% for loans up to 95% LTV.

  • SPPL strengthens sales team

    30 Aug 2006

    Southern Pacific Personal Loans has added two new members to its sales team.

  • Standard Life fills marketing role

    28 Aug 2006

    Standard Life has appointed Allison Crawford as sales and marketing director. Crawford previously worked at Standard Life Bank as head of its customer proposition.

  • Star letter: Brokers should not blame the regulator and government for their problems

    29 Aug 2006

    From Ron Radway

  • Stonehaven warned on products

    28 Aug 2006

    equity release new entrant Stonehaven has been welcomed by brokers but warned against com- plicating its product range.The London-based lender has launched a pilot through six specialist equity release intermediary firms. It has designed a range of equity release lifetime mortgages aimed at home owners aged over 55.The range consists of five products: a lump sum and lump sum plus option, regular cash release, flexible cash release, build your own and interest only.Jayne ...

  • Sturley to leave Mortgage Express

    1 Sep 2006

    Mortgage Express has revealed its head of intermediary mortgage distribution Tim Sturley has decided to leave the company.

  • SWB reveals record profits

    28 Aug 2006

    Scottish Widows Bank saw a record financial performance in the first half of 2006. Profit before tax was 13.5m compared with 10.7m for the same period last year.

  • Swift won't pass on rate rise

    28 Aug 2006

    The Swift Group will not pass on the rise in the base rate to new borrowers applying for secured loans and will instead absorb the cost.

  • The Mortgage Mole

    28 Aug 2006

    Plane DitzyMortgage Strategy reporter Nicolette was left in a flustered state after having her shoes stolen on the plane to Edinburgh for the MoneyQuest awards.Self-confessed shoe addict Nicolette was distraught after finding that sticky-fingered airline staff had stolen her shoes, but even more panic-stricken when she realised she would have to be wearing her trainers with her evening dress.However, never to be defeated, Nicolette hunted down a bargain shoe shop ...

  • The WAY Group plans IHT road shows

    30 Aug 2006

    Inheritance Tax planning specialists The WAY Group is to embark on a major drive to raise the profile of its suite of IHT products within the independent financial advisor sector.

  • TMP appoints consultant

    28 Aug 2006

    The Mortgage Partnership has appointed an inhouse mortgage consultant. Mark Kennedy, who previously worked at Northern Rock, is now based at the enquiries desk at TMP's principle office in Wirral.

  • Tories must flesh out housing policy

    28 Aug 2006

    My prediction that politicians would start saying some interesting things on home ownership is coming true.

  • Tories push to protect suburbs

    28 Aug 2006

    The Tories are launching a national campaign to prioritise building family homes over one-bedroom flats and stop England's gardens and suburban neighbourhoods being over-developed.

  • UCB relaunches tracker mortgages

    31 Aug 2006

    UCB Home Loans is relaunching its entire core range of self-cert and buy-to-let tracker mortgages with effect from September 1.

  • UK population 1.4 million more than official estimates

    29 Aug 2006

    The Centre for Economics and Business Research says the UK population is 1.4 million more than office figures suggest.

  • Valuers ought to stop bleating and do a full day's work

    28 Aug 2006

    From Andrew BrownlieIn the August 14 edition of Mortgage Strategy, I read an anonymous letter headlined 'It's time to ask if the FSA provides value for money'. I recently had a client ask me the same question about his valuation from Northern Rock. NR had sent a guy round to my client. He knocked on the door and stated that he was there to survey the house. My client told him he was actually there to do a valuation, but let him in anyway. He was in the house for six ...

  • Victoria updates product range

    31 Aug 2006

    Victoria Mortgages has made a series of significant updates and improvements to its product range and lending criteria.

  • We can all do our bit to help FTBs

    28 Aug 2006

    Aspiring first-time buyers are having a torrid time but lenders, brokers and networks can all play a role in helping them get a foot on the property ladder, says Sally Laker

  • West coast prices beat the east

    28 Aug 2006

    Research from Halifax Estate Agents shows that seaside towns on the west coast have seen stronger house price growth over the last five years with 14 of the top 20 located on the west coast against six on the east coast. The most expensive seaside town is on the west coast, Sandbanks in Dorset, where the average house price is 508,337. About 18 miles away, property in the east coast seaside resort of Lymington in Hampshire is going for a whopping 62% less. The average price there is ...

  • Will new lenders' technology result in the death of building societies?

    28 Aug 2006

    Roger Morris is managing director of em-financialThe mortgage industry should be aware of how new technology will change things. Building societies need the ability to recognise this development and leadership that understands the speed of change and can invest in technology to compete.But most are far too institutionalised and cocooned in their own worlds to realise what is happening. At one time if we, as clients, wanted a loan we would have to send in our P60 along with ...

  • Woolwich ensures brokers are rewarded for retaining clients

    28 Aug 2006

    From David Finlay Having read the letter from Nigel Pamment (Mortgage Strategy August 21), I feel duty bound to point out that Woolwich was one of the first high street lenders to offer brokers proc fees for retained business. We wanted then - as we do now - to ensure brokers are rewarded for helping us retain clients. Pamment is correct in that we write to customers a number of weeks before their products mature. ...

  • Young families continue to suffer property shortgage

    31 Aug 2006

    A recent survey, carried out by SmartNewHomes.com found that 94% of participants said they felt there were not enough new homes available for families to buy.

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