Mortgage Strategy
28 February 2005

  • Transatlantic tie-ups work both ways

    28 Feb 2005

    American involvement with UK specialist lenders is growing and firms on both sides of these partnerships can benefit if certain ground rules are observed, says Colin Shave

  • A publication that could boost sales

    28 Feb 2005

    The FSA is taking steps that should help authorised firms including cracking down on unauthorised intermediaries and publishing a document that could aid the sales process, says Neal Smith

  • A View From The floor

    28 Feb 2005

    John Sutherland, divisional director at Nationwide, says the FSA should regulate second mortgages to ensure consumers can compare products before they commit

  • Accord driving Yorkshire growth

    28 Feb 2005

    Accord Mortgages is saying it is now the main growth engine for parent group Yorkshire.The mutual's specialist intermediary lender was only set up in mid-April 2003 but already forms an important part of the Yorkshire group.Accord managing director Linda Will says though the housing market is slowing, demand for remortgages will keep the lender busy.She says: "Even if price growth slows, remortgages will be in demand. Accord has proved it is the growth vehicle for Yorkshire."Accord ...

  • Amber more than doubles sales force

    28 Feb 2005

    Amber Homeloans has made several appointments to its sales team as part of a strategy to enhance relationships with brokers.It has more than doubled its salesforce from four people to 10. Expanding the team gives Amber the ability to provide continued support to intermediaries and increases opportunities to promote the company's service levels and products.Mike Perry, associate director of sales and marketing at Amber, says: "I am pleased with our success in recruiting quality ...

  • Anger over PII demand for third party GI deals

    28 Feb 2005

    Mortgage brokers are up in arms about having to pay for full personal indemnity insurance to cover general insurance even if they are only referring business to a third party and receiving a share of commission.One broker says he applied for and received a variation of permission from the Financial Services Authority as this was required to receive commission for passing GI leads on to IFAs.But he was shocked to find he would have to pay almost 1,000 for PII despite not giving ...

  • B&B results reveal 103m profit for group in 2004

    28 Feb 2005

    Bradford & Bingley has published its preliminary results for 2004 which reveal a profit of 102.7m for the group.Lending profit before tax increased to 249.6m and residential balances rose to 23.6bn.Retail profit before tax was up 35% to 59.6m and savings balances increased by 7% to 1.1bn.The group went through structural change last year and sold five non-core businesses including Charcol and its IFA operations, in addition to reducing costs in its core operations.The ...

  • Bananas Inc launches cashback discount trackers

    28 Feb 2005

    Bananas Inc, the branded lender and packager, has launched two three-year discount cashback trackers for buy-to-let and self-certification borrowers. The products, available exclusively via Platform, are three-year Bank of England base rate trackers, with the buy-to-let launched at BBR plus 0.74%, 5.49%, and the self-certification at BBR plus 0.84%, 5.59%. Both products come with 650 cashback and are available up to 85% LTV.

  • Barclays launches internet banking service in France to help Brits

    28 Feb 2005

    Barclays has today launched an online banking service in English to make life easier for thousands of British owners of French property to manage their finances.

  • BIBA launches ASU scheme

    1 Mar 2005

    The British Insurance Brokers' Association has appointed member broker Burgesses as the exclusive scheme provider of accident, sickness and unemployment insurance to its 2,000 member firms.

  • Blue Sky

    28 Feb 2005

    For some, the work/life balance is about finding time to spend with family and friends.

  • BMS is using gutter tactics because it is running scared

    28 Feb 2005

    From Peter BeaumontFirstly, Mortgages PLC does not pay proc fees of 2.5% or more. MPLC's proc fees are 0.5% on our near prime plus and near prime products (which is 0.25% lower than BM Solutions' equivalent products) and 1.25% on all other products. Packagers are also paid a packaging fee (as with BM Solutions) which will vary depending on the services they provide and the quality of the business they process and submit. We believe our procuration and packaging fees represent a fair ...

  • Body talk that can make or break an interview

    28 Feb 2005

    Mark Witcomb is senior consultant at Venatus Business IntelligenceBody language can be defined as non-verbal communication and is generated from our thoughts. The average conversation speed is around 100 words per minute but the average person thinks 800 words per minute and it's these subconscious feelings and thoughts that create body language.An interview is too brief for an employer to measure the experience, skill level, interest and personality of an individual to make a ...

  • Bricks and mortar

    28 Feb 2005

    Despite some scepticism about targeted graduate mortgages, the variety of deals available for young professionals makes it a complicated sector where brokers can really prove their worth, says Harvey Jones

  • Broker Support Services launches to Support Mortgage Brokers

    4 Mar 2005

    Mortgage Support Network and SimplyBiz, has launched a joint venture company, named Broker Support Services.

  • Brokers' roles are evolving along with FSA rules

    28 Feb 2005

    Colin Lloyd is head of operations at Reed InsuranceThere is a need to re-evaluate sales and marketing strategies due to the Financial Services Authority's focus on telemarketing leads.Before M-Day the role of the mortgage broker was slightly different to what it is now. Common practice for brokers was to include telemarketing leads as part of corporate sales strategies. However, lead generation of this sort is now in question. The FSA has coined the term 'unsolicited real-time ...

  • Buy-to-let letters hold fast as market cools, says RICS

    1 Mar 2005

    Demand for rented property continues to rise, though at a slower paces, says The Royal Institution for Chartered Surveyors' latest lettings survey.

  • Buy-to-let loan to values set to plummet

    3 Mar 2005

    Property investors can now access low cost buy-to-let mortgage deals with much lower deposits as lenders respond to falling demand for the products, says London-based broker Charles Cameron & Associates. Grant Holmes, associate director at CC&A, says: "Some lenders are currently slashing the loan to value on specialist products, allowing investors who do not have the usual minimum 20-25% deposit to access deals. "One recent example is GMAC, one of the biggest players in ...

  • C&G launches new premium tracker and discount mortgage

    3 Mar 2005

    Cheltenham & Gloucester is launching two new premium mortgage products, a premium tracker and a premium discount.

  • Call for FOS to review complaints policy

    28 Feb 2005

    The Association of Mortgage Intermediaries is calling for the Financial Ombudsman Service to review its policy which allows only two free complaints per network rather than per appointed representative.As it stands, individual directly authorised brokers are allowed two free complaints each year. This means ARs are losing out as they have to pay for their complaints if the network has already received two. Many brokers would not have been aware of this when they joined networks.Chris ...

  • Capital ups the stakes in battle for B2L business

    28 Feb 2005

    Capital Home Loans says it has dramatically upped the stakes in the already competitive buy-to-let sector by launching a marketleading two-year fixed rate mortgage at 4.75%.The product, which is also available from CHL's Irish Permanent brand, is fixed until May 31 2007 and the lender says it undercuts the next most competitive product by a good margin. At the end of the fixed rate period it reverts to Bank of England base rate plus 1.65%.It is available to individuals and limited ...

  • Cartel partner decision nears

    28 Feb 2005

    Manchester-based broker Cartel says it hopes to decide in the next six to eight weeks which proposition will be the best to advance its strategy of tying to a single mortgage lending partner.As well as UK expansion, the firm is planning to enter overseas markets including Spain, Italy, Australia, India and the Republic of Ireland and it will also be looking for business partners in these territories.Cartel managing director Carl Wright says he has around 25 possible single-tie ...

  • Choose a decent packager and you'll have no problems

    28 Feb 2005

    From Bill ThomsonThough Michael Bolton's comments regarding packagers (Mortgage Strategy February 7) were in his usual mischievous tone he raises a valid point - brokers should be using packagers with as wide a panel of lenders as possible. However, contrary to what he would like us to believe, there is even more of a case for using a packager post-Mortgage Day.Bolton is raising a red herring when he talks about the problems brokers might face from the Financial Services Authority. ...

  • CML urges Stamp Duty reform for fifth year running

    2 Mar 2005

    For the fifth year running, the Council of Mortgage Lenders has urged the chancellor to reduce Stamp Duty in its Budget submission.

  • Complete starts remote processing for GMAC-RFC

    28 Feb 2005

    Complete Mortgage and Loan Services has become a remote processor for GMAC Residential Funding, with the lenders underwriters permanently on site.

  • Compliancy Services prepares Norton Finance for GI

    2 Mar 2005

    Compliancy Services has assisted Norton Finance Group in preparing its business for Financial Services Authority general insurance regulation, which came into force in January 2005.

  • Coventry launches three capped rate mortgages

    3 Mar 2005

    The Coventry has launched three capped rate mortgage products.

  • Curriculum Vitae - Matt Humphrey

    28 Feb 2005

    "I walked into a door in the middle of the Webline office following a few celebratory drinks"

  • Dear Delia

    28 Feb 2005

    Emma and Jonathan jointly own a property valued at 250,000 but need to raise 25,000 to cover home improvements. They have a combined annual salary of 50,000.

  • Do ARs get fees direct or via their network?

    28 Feb 2005

    Confusion still surrounds the issue of VAT after Mortgage Strategy revealed last week that some networks are believed to be flouting Customs & Excise VAT rules, leaving mortgage clients without protection because of the way their members are being paid.

  • Europe's housing markets goes from strength to strength

    3 Mar 2005

    The Royal Institute of Chartered Surveyors European Housing Review 2005, published today shows housing markets across Europe continue to strenghten.

  • February house price figures show positive trend

    4 Mar 2005

    Andrew Frankish, managing director of Mortgage Talk, has hit back at commentators who predicted gloomy times ahead for UK homeowners.

  • Financial health matters

    28 Feb 2005

    Critical illness insurance was in the spotlight recently with the BBC's Watchdog programme covering three disputed claims.

  • First Title acquires The Live Organisation

    3 Mar 2005

    First Title has bought The Live Organisation, provider of legal services in the conveyancing sector.

  • FSA begins costs of regulation study

    3 Mar 2005

    The Financial Services Authority has today revealed the scope, form and timing of its study of the costs of regulation.

  • FSA fines Highbury Financial Services 35,000 for misleading financial promotions

    3 Mar 2005

    The Financial Services Authority has fined Highbury Financial Services 35,000 for the publication of misleading financial promotions entitled 'The 25 Shares Most Likely to Double in 2004', and for lacking the systems and controls that would have prevented its publication.

  • FSA restructures website to make compliance easier

    3 Mar 2005

    The Financial Services Authority has restructured and re-designed its web site with the aim of helping authorised firms cut the time they spend on regulation. Improved navigation and an intuitive search facility will make it quicker and easier for users to find the information they need.

  • FSA should look into issue of lenders' deeds release fees

    28 Feb 2005

    From Danny LoveyIf the FSA is truly there to protect the consumer it should launch an investigation into lenders' deeds release fees/sealing fees.The recent trend has been for lenders to increase the fees, which are being applied irrespective of when the customer took out the mortgage. Thus they have consumers over a barrel if they wish to change their mortgage - lenders can charge what they like.The deeds release fee used to be a nominal 50 or so for administration in a lender's ...

  • FSA unveils its online reporting requirements

    28 Feb 2005

    The Financial Services Authority has unveiled its reporting requirements which force firms to submit returns online, using a secure web-based system.From July 1 there will be mandatory electronic reporting for all firms except credit unions.The Association of Mortgage Intermediaries has warned brokers this will involve a lot of preparation as negligence will mean expulsion from the industry.Chris Cummings, director of AMI, says: "Electronic reporting is not as easy as it ...

  • FTBs could pay Stamp Duty in 98% of constituencies

    28 Feb 2005

    Halifax sent out a pamphlet last weekend about Stamp Duty and first-time buyers to approximately 800 opinion formers across the UK, including all MPs, members of the Scottish parliament and other senior public officials.

  • FTBs want government sponsored deposit savings scheme

    28 Feb 2005

    Brahm Research and financial services policy specialists Cicero Consulting research shows young people believe that there is not enough being done to help first-time buyers.

  • GMAC-RFC completes subprime collateral securitisation valued at 757.5m

    3 Mar 2005

    GMAC-RFC has closed its first securitisation for 2005, valued at 757.5m through its RMAC programme.

  • GMAC-RFC cuts rate on three-year B2L deal

    28 Feb 2005

    GMAC-RFC has cut the rate on its three-year fixed rate buy-to-let mortgage with an LTV of 89%, from 6.25% to 5.85%.The product attracted a mixed reaction at the time of its launch in January despite having the highest LTV in the market. Its rate was seen as uncompetitive.Some brokers felt a rate of 6.25% required borrowers to pay too high a premium to obtain it.The rental cover calculation, at 125% Bank of England base rate plus 1.25%, was also seen as beyond the reach of ...

  • GMAC-RFC unveils second portfolio sale to Dunfermline

    28 Feb 2005

    GMAC-RFC has unveiled its second portfolio sale worth 100m to Dunfermline.

  • Hadenglen to install SDS MAPS mortgage system

    2 Mar 2005

    SDS, a provider of systems and services to the UK mortgage sector, is to install the SDS MAPS system at Coalville based Hadenglen.

  • Halifax helps first-time buyers to survive the homebuying maze

    2 Mar 2005

    With 92% of the UK's main postal towns considered to be unaffordable for first-time buyers, Halifax, highlights the help available to FTBs to get them onto the housing market.

  • Have your say in the MS Awards

    28 Feb 2005

    Time is running out for you to have your say as to who should scoop the Mortgage Strategy Awards 2005, the Oscars of the industry.

  • HBOS reports record profits of 4.77bn

    2 Mar 2005

    HBOS, the UKs biggest mortgage lender, today revealed record profits of 4.77bn.

  • HIPs will strengthen Lending Solutions' chain

    28 Feb 2005

    Lending Solutions says Home Information Packs will speed up the house buying process and should be welcomed by the industry and consumers alike. The company sees HIPs as an important part of its future development, and will be a provider of the packs when they become compulsory in 2007.Lending Solutions offers a complete service including estate agency, valuations, conveyancing, surveys and remortgaging. The rapidly expanding company that includes the Your Move chain of estate ...

  • HML signs deal with Oakwood Homeloans

    1 Mar 2005

    Homeloan Management has announced Oakwood Homeloans as its first new client for 2005 and its seventh new client in just over 12 months.

  • Home insurance policies hit the mark

    2 Mar 2005

    Saffron Walden Herts and Essex Building, says its home insurance policies have been a big hit.

  • Homebuyers in search of highland fling

    1 Mar 2005

    Scotland is now one of the most popular places for new home buyers in the UK, with 3.23% more people looking for new homes in the area than live there, says data from SmartNewHomes.com.

  • House prices down by 0.5% in Febraury

    4 Mar 2005

    House prices fell by a seasonally adjusted 0.5% in February, but overall prices have risen by 0.8% since July 2004, says the latest Halifax House Price Index.

  • House prices rise in February, says Nationwide

    2 Mar 2005

    House prices rose slightly in February with an 0.5% increase from January, says Nationwide.Its figures show the average price of a UK property is 152,879 - 10.2% higher than a year ago.Alex Bannister, Nationwide economist, says: "We are not seeing the market collapsing in the way some had feared."There are no obvious triggers on the horizon that might result in significant price falls."

  • HSBC reveals profits of 9.2bn for 2004

    28 Feb 2005

    HSBC has today revealed profits of 9.2bn ($17.6bn) for 2004.This was a 37% rise on the previous year, with much of the profits coming from its operations abroad in Europe, Asia and the Americas.HSBC Is the worlds second largest bank, with 110m customers worldwide and 10.6m in Britain alone.

  • Hunt is on for those flouting the rules

    28 Feb 2005

    Intermediaries who have expended time and effort on their own compliance are not sitting idly by while clear breaches of FSA rules are made by firms down the road, says Ben Stafford

  • If fees have to be standardised, so be it

    28 Feb 2005

    The debate on proc fees is as old as Methuselah but still it rages on. This is a contentious issue for a number of reasons - and I have strong views on all of them.

  • Internet Insite

    28 Feb 2005

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Jeff Sutherland-Kay checks out the websites of brokers, product providers, clubs, networks and packagers

  • Ipswich's launches two-year fixed rates

    4 Mar 2005

    Ipswich, the East Anglian mutual lender, has unveiled a new range of two-year fixed rate homeloans.

  • Kensington goes direct to brokers

    28 Feb 2005

    Kensington Mortgages has launched a new direct submission channel for brokers.

  • Knight Funding adds L&H to its lending panel

    28 Feb 2005

    Packager Knight Funding has added Leeds and Holbeck to its lender panel, enabling it to offer a wider range of prime niche products to its brokers.

  • L&G updates online system

    28 Feb 2005

    Legal & General has launched a revamped version of its Online Protection system.Online Protection offers an enhanced range of products including term assurance with options for critical illness cover, critical illness in isolation, mortgage payment protection insurance, buildings, contents and personal possessions cover and family legal protection.L&G was the first in the market four years ago to offer protection online. With rivals such as Friends Provident catching up, its ...

  • Lib Dems propose to hike Stamp Duty threshold to 150,000

    1 Mar 2005

    Charles Kennedy, leader of the LIberal Democrats, has promised to help first-time buyers by proposing to abolish Stamp Duty on houses worth less than 150,000.

  • m2i negotiates exclusive deal with Webline

    28 Feb 2005

    Mortgage 2000 Financial Groups independent mortgage and non-investment support service, m2i, has negotiated an exclusive discount deal with Webline.

  • Market shows first signs of recovery this month as buyers return in force

    28 Feb 2005

    The Hometrack February survey of the national housing market reports a fall of 0.2%, the eighth consecutive month that house prices have fallen.

  • Marketwatch

    28 Feb 2005

    With swaps surging last week, I suspect we will see a busy couple of weeks for rate changes as lenders reprice upward.

  • MEX predicts strong growth in lifetime mortgages for 2005

    2 Mar 2005

    Mortgage Expresss lifetime mortgage captured over 30% of the intermediary market during 2004.

  • MEX releases interim buy-to-let confidence report

    28 Feb 2005

    Mortgage Expresss buy-to-let confidence report for January 2005 has unveiled increasing confidence in the stability of the market, and a decrease in void periods from the previous quarter.

  • More lenders weigh in as packaging fees debate grows

    28 Feb 2005

    Amber Home Loans is the latest lender to call on the industry to unite to standardise proc fees and packaging fees to ensure borrowers are being recommended the best deals rather than those that pay the highest fees.Mike Perry, associate director of sales and marketing at Amber, says he was talking to packager Enterprise Homeloans about joining its panel but was told Amber would have to pay a fee of at least 2.25%, which he did not agree to.This means Amber does not get access to ...

  • Mortgage approvals down by 37.8%

    1 Mar 2005

    Figures released by the Bank of England today show the number of new mortgage approvals for home purchases were a seasonally adjusted 79,000, down 3.7% on the previous month and 37.8% lower than the same month last year.

  • Mortgage lending rises 14% at Ipswich

    1 Mar 2005

    Figures just realised by Ipswich show mortgage lending rose 14% during last year, with total membership of the society increasing to 61,500 members.

  • Mortgage Mole

    28 Feb 2005

    Digging the dirt in the mortgage world

  • MSN and SImplyBiz launch joint venture

    1 Mar 2005

    Mortgage Support Network and SimplyBiz have launched a joint venture company, Broker Support Services.

  • New chairman for CML Scotland

    4 Mar 2005

    Norrie Henderson, head of mortgages at Lloyds TSB Scotland, has become chairman of CML Scotland.

  • Nick's notes

    28 Feb 2005

    One area of product growth that fascinates me is the lifetime mortgage and home reversion sector.

  • NLA at the palace

    3 Mar 2005

    The Prince of Wales has held a reception at Saint James's Palace as part of the promotion of the Affordable Rural Housing Scheme.

  • Now Trigold verifies details

    28 Feb 2005

    Trigold is following in the footsteps of other sourcing systems by verifying product details despite speculation that a number of major lenders have yet to sign up.Trigold will verify products from March 14, more than two years after rivals Mortgage Brain and Mortgage 2000.However, one source tells Mortgage Strategy key lenders such as Halifax, Northern Rock and Alliance & Leicester have yet to agree to verify their products.Bill Safran, joint managing director at Trigold, ...

  • NU offers its lowest fixed rate for lifetime mortgage

    28 Feb 2005

    Norwich Union is offering its lowest fixed rate for a lifetime mortgage, from today.

  • Opus and MP target 2.5bn

    28 Feb 2005

    Opus, the Glasgow-based loan administration company, and Mortgage Promotions have agreed a joint lending target of 2.5bn.Mortgage Promotions completed in excess of 1.5bn in its last trading year with over 1,700 firms having joined since its launch in 2001. It says the exclusive arrangement with Opus has allowed an aggressive approach to products and pricing, supported by restructuring and investment in IT and training by Opus in 2004.As part of the package, exclusive products ...

  • Osland quits to try fresh Formula

    28 Feb 2005

    Mark Osland, director of IFA firm Fidelius, is to set up his own company, Formula, which will open for business on March 1.Osland set up Fidelius with partners Alan Phillips, Iain Fox and Adam Hammond. Hammond will join Osland at Formula.Fidelius will no longer have premises in Wallington, Surrey, but will continue to operate from its site in Bath. Formula will be based at Brighton Road in South Croydon.Osland says: "This development follows an amicable agreement and the ...

  • Petition to be delivered this week

    28 Feb 2005

    West Brom will this week deliver a petition of some 23,000 signatures to Downing Street, calling for Stamp Duty reform.With the next Budget set for March 16, groups across the country are putting the pressure on the government to give home buyers a break and raise Stamp Duty thresholds. With the election likely to be in May, now is the time to push for Stamp Duty reform.If you've not yet done so, sign the coupon below and send it to: Mortgage Strategy, 50 Poland St, London W1F ...

  • Pink cuts 34 jobs in restructure

    28 Feb 2005

    Pink Home Loans last week told 34 members of staff they are to be made redundant.The cuts are in the group's operations department, with the majority of the losses being to Pink's packaging arm. The firm says the cuts are part of a restructure which involves moving away from general packaging to focus on complex sub-prime packaging.The majority of Pink's business is now direct to lender which it says is a result of brokers becoming comfortable with electronic submission and ...

  • Platform appoints business development manager

    28 Feb 2005

    Platform, the intermediary lender of Britannia has appointed of Mark Hindmarsh as its new business development manager for the London area. Hindmarsh has been internally promoted to business development manager having spent four-years at Platform in the telesales department. In his new role he will be managing the development of Platform's business in the London area by strengthening the lender's existing intermediary contacts and developing new ones. Jeremy ...

  • Platform seeks to increase buy-to-let market share in 2005

    1 Mar 2005

    Platform, the intermediary lender of Britannia, has launched buy-to-let base rate trackers and fixed rates designed to increase the lender's market share in 2005.

  • Practitioner emphasises importance of costs research

    3 Mar 2005

    The Financial Services Authority has revealed further details today of the project being undertaken in partnership with the Financial ServicesPractitioner Panel, into the costs of regulation.

  • Principality revamps image as it looks to broaden offer

    28 Feb 2005

    Principality, Wales' largest building society, will unveil its new look on St David's Day, March 1, in support of its plan to provide a wider choice of products and services.The new identity features a bolder logo. The society's 51 branches and customer communication materials have also been redesigned to appeal to more customers in Wales and the Borders.The society says it is committed to intermediaries and is smartening up its marketing communication with them.Red, the ...

  • Property investment funds would add value to market

    1 Mar 2005

    A report by the Council of Mortgage Lenders says if the UK introduces property investment funds, they would add value to the property market by making it more flexible and diversified.

  • Sellers view housing market through rose-tinted spectacles

    28 Feb 2005

    Research from property website propertyfinder.com reveals a growing gap between the views of buyers and sellers on the property market.

  • Slaving to raise cash

    28 Feb 2005

    Standard Life Bank has raised over 120,000 for the tsunami appeal with a series of fundraising events including a slave auction which saw employees in Edinburgh sell their services for a day to the highest bidder. Teleconsultancy managers Lesley Avinou and Fiona Ross were willing slaves, along with sales development manager Neil Irvine (pictured as a butler). Ross slaved away on February 25, wearing fancy dress and ironing and polishing while singing Paula Abdul songs.

  • Smaller packagers feel ignored

    28 Feb 2005

    Packaging collective Freehold has revealed that of the 90-plus smaller packagers that responded to its membership adverts in the trade press, the majority are disillusioned with the treatment they are receiving from lenders.Freehold says that most of those who responded feel lenders are ignoring them because of their size relative to larger packagers and packager trade groups.It adds there is a widely held perception that too much space is being given by the media to the negative ...

  • Spring system offers new way of buying and selling houses

    1 Mar 2005

    A new service called Spring says it will transform the existing delay-ridden process of buying and selling houses by providing all property reports upfront and using only one solicitor per transaction.

  • Square Mile sees remortgages rise

    28 Feb 2005

    London brokerage Square Mile Mortgage Finance has reported that remortgages accounted for 60% of its total business in the first eight weeks of 2005.While the firm says volumes are broadly in line with the same period in 2004, the number of remortgages is up by 10% and continues to outstrip house purchase.Some 44% of remortgages were for residential properties and 14% were for buy-to-let properties.On the purchase side, residential properties accounted for 30% of business ...

  • Stroud & Swindon launch new flexible tracker mortgage

    3 Mar 2005

    Stroud & Swindons new flexible tracker mortgage guarantees that the interest rate payable will be 0.49% above the Bank of England base rate for the whole term of the mortgage.

  • Stub it out and pay the mortgage off, suggests Charcol

    2 Mar 2005

    With National No Smoking Day on March 9, Charcol is advising quitters to plough all the savings into overpaying on their mortgage.

  • Take care when buying internet leads

    28 Feb 2005

    The Financial Promotions Order will govern the provision of mortgage leads on the internet and brokers will have to be vigilant when dealing with unregulated providers, says Frank Eve

  • TBMC team up with threesixty services' clients

    2 Mar 2005

    Cardiff based specialist commercial and buy-to-let processor, The Business Mortgage Company, has linked up with threesixty's clients.

  • Telling it like it is in financial adverts

    28 Feb 2005

    Promotions should give consumers the information they need in a way they can easily understand and it's good for the market that the FSA is cracking down in this area, says Rachel Blackmore

  • The Derbyshire announces record performance

    2 Mar 2005

    The Derbyshire has revealed a record 770m in gross mortgage lending for 2004.

  • TMO reveals exclusive prime self-cert product with B&W

    3 Mar 2005

    TMO has announced the launch of its exclusive Bristol & West self-cert product

  • TV gives DIY fans a false picture

    28 Feb 2005

    Property renovation programmes are luring home buyers into a false sense of optimism about what they can achieve, property experts have warned.Jonathan Cornell, technical director at Hamptons International Mortgages, says the boom in renovation programmes is leading people to think they can achieve too much when it comes to home renovation.Cornell says: "You can't switch on the TV these days without coming across a DIY programme or someone doing up a property. A lot of people ...

  • UCB enhances tracker deals

    1 Mar 2005

    UCB Home Loans, the specialist lender of Nationwide, is enhancing its range of buy-to-let and self-cert tracker mortgages on March 3 2005.

  • Universal continues strong performance

    2 Mar 2005

    Universal experienced a strong year in 2004, with its annual results showing an increase in assets of by 6.2% to 534m and gross mortgage lending of 121m.

  • VAT confusion grips networks

    28 Feb 2005

    Confusion reigns among networks over whether fees are liable for VAT if they allow members to receive payment direct from clients for the advice they give.Mortgage Strategy last week revealed that some networks are thought to be flouting Customs & Excise VAT rules and rendering professional indemnity insurance worthless in certain cases.This is because they are not insisting fees for advice are channelled through the principal, the network. But not all networks interpret the ...

  • Vesta launches conveyancing operation

    2 Mar 2005

    Vesta Packaging is to launch its in-house conveyancing division. Operated in partnership with national conveyancer Goldsmith Williams, it is being set-up to speed transactions by providing seven day a week trading, online tracking, a direct link to the Land Registry, and fixed-price guarantees.

  • Warnings are failing to prevent growing identity fraud

    3 Mar 2005

    Reports in the news show that one in four Britons are victims of identity fraud confirm a dramatic upward trend, says fraud experts at city law firm Philippsohn Crawfords Berwald in an interview with BBC breakfast television today.

  • Welcome to the network revolution Financial details of the takeover

    28 Feb 2005

    Prestbury's takeover of Blue Pearl is an indicator that the much-heralded consolidation revolution among networks is finally becoming a market reality, says Richard Griffiths

  • Will we see more packagers turning themselves into mortgage lenders?

    28 Feb 2005

    Venturion expanding into lending shows the packaging sector is having to rethink its business model, say our experts

  • Work better and have more fun

    28 Feb 2005

    John Prust, sales and marketing director of Southern Pacific Mortgage Limited, says many mortgage brokers should look at how they can lead more rounded, fulfilling lives

  • You choose

    2 Mar 2005

    At Kensington Mortgages we have just launched our new electronic distribution channel, an on-line system complete with all the whistles and bells that enable brokers and packagers to access our entire production range and submit applications directly to us, quicker and more efficiently than ever before.

  • Zebra Homeloans opens branch in the North-West

    2 Mar 2005

    Zebra Homeloans, a packager with offices in Luton and Bedford, has opened a branch in Warrington.

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