Mortgage Strategy
28 March 2005

  • ... And they are now used by two-thirds of big firms

    28 Mar 2005

    Colin Lloyd is head of operations at Reed Insurance

  • 61% Expect no pre-election rate hike

    28 Mar 2005

    Of the 1,350 people who took part in the straw poll at www.mortgagestrategy. co.uk, only 39% believe the Bank of England's Monetary Policy Committee will raise the base rate from 4.75% before the general election.The vast majority, 61%, are confident the MPC will maintain the status quo on the base rate until the general election, expected to be held on May 5.In the wake of the debate on the level of proc fees you now have the chance to have your say about what should happen.To ...

  • A deal stands or falls on its merits, not the proc fee

    28 Mar 2005

    From Alan SargentI disagree with Monty Burn's comments about standardised proc fees (Mortgage Strategy February 28).To state that the Bristol & West deal sold by the "shedload" on the strength of the 750 proc fee is a silly argument. What evidence does he have for this assertion? How does he know mortgage brokers were influenced by the fee?The popularity of the product is another matter and I would be interested to know how Burn knows whether it was sold by the shedload. Normally ...

  • A View From The floor

    28 Mar 2005

    Rob Hill, corporate communications manager at The Derbyshire says if security is important to home buyers, so should be having the right insurance policy

  • A&L slammed over hike in deeds release fee

    28 Mar 2005

    The fee, which is now the highest in the industry, is more than three times that of some other lenders.Danny Lovey, sole broker at The Mortgage Practitioner, says: "This is a dishonest way of making the consumer pay. It is anti-competitive and should be outlawed. It's a way of lenders imposing an additional redemption penalty by the back door and the Financial Services Authority should use its powers to stop this abuse of the consumer."Alliance & Leicester could also be running ...

  • Abbey thought to be talking to Kensington

    28 Mar 2005

    Mortgage Strategy reported last week how Kensington was forced to confirm to the Stock Exchange it had received an informal bid after its shares rocketed 51p to 656p. Banco Santander jumped feet first into the UK mortgage market last year when it bought Abbey for 8.5bn and has ambitions to grow volume with margin, something a move into the sub-prime sector would almost certainly fulfil. Abbey sold sub-prime subsidiary First National to GE 18 months ago but pundits are not ruling ...

  • Advisers switch on to E-biz says Assureweb

    30 Mar 2005

    More than three quarters of advisers believe good technology plays a role in improving business image, says research from IFA portal Assureweb.

  • APRIL FOOL: BM Solutions launches sub-prime 2% proc fee

    1 Apr 2005

    BM Solutions announced today that it is launching a sub-prime product paying a whopping 2% procuration fee to the broker.

  • BMS reports record activity over Easter

    31 Mar 2005

    BM Solutions says a record number of brokers received online mortgage offers and submitted business to it over the bank holiday weekend, underlining the importance of 24/7 online services.

  • BMS revisions include B2L remortgage deal

    28 Mar 2005

    BM Solutions has launched a revised range of buy-to-let products including a remortgage product.The company says Council of Mortage Lenders data shows 39% of gross advances in the second half of 2004 were based on remortgages, above the 37% long-term average.The BMS products include a 5.74% three-year remortgage discounted product at 85% LTV with refunded valuation and free remortgage service, a 5.99% three-year discounted product at 85% LTV, refunded valuation and 300 cash ...

  • Bradford & Bingley sees Browns pledge as step forward

    1 Apr 2005

    Duncan Pownall, mortgage development manager at Bradford & Bingley, says chancellor Gordon Browns pledge to create one million more homeowners five years on from an election win is a step forward.

  • Brits greet spring with a DIY spending spree

    28 Mar 2005

    Brits are splashing out on a record DIY spending spree, giving their homes a spring facelift, research from Alliance & Leicester reveals.The average home owner intends to spend a record 1,501.85 improving their property this quarter - 5% more than last quarter (1,426) and 21% more than this time last year (1,240).But many are likely to stop short of bigger projects such as kitchens or bathrooms, instead opting for a quick fix in the form of a lick of paint or new curtains and ...

  • Broker Support Services chooses Webline

    1 Apr 2005

    Webline, the UK's first provider of online comparative quotations to Origo standards, has announced that Broker Support Services has chosen Webline to provide online quotations to its members.

  • Brokers can ease payment shock

    28 Mar 2005

    Brokers whose customers are coming to the end of short-term, low-priced fixed rate and discount deals can help them avoid payment shock when their mortgages revert to their lender's SVR.In July 2003 the base rate stood at a 50-year low of 3.5%, and there was an abundance of cheap deals. But with base rate now at 4.75% and further rises possible these borrowers could be in for a nasty shock.Brian Murphy, lender manager at Mortgage Advice Bureau, says a large number of borrowers ...

  • Brokers must give shock treatment

    28 Mar 2005

    Clients who bagged themselves a bargain two-year fixed or discount mortgage in the low interest rate environment of 2003 will soon be coming to the end of their deals. It's likely they will not have given their mortgages much thought since they first took them out and will have become used to low monthly repayments.In July 2003 the base rate was at a 50-year low of 3.5%. But it is now 4.75% and further rises are possible. These borrowers could be in for a nasty shock. For example, ...

  • Brown pledges to create one million more homeowners

    1 Apr 2005

    Gordon Brown, chancellor and John Prescott, deputy prime minister have pledged to create one million more homeowners in the next five years of an election win.

  • Call to support charity auction

    28 Mar 2005

    Alan Dring, head of sales at Standard Life Bank, is calling on brokers to support a charity auction for Macmillan Cancer Relief.Dring is supporting the fundraising efforts of a friend, Brian Burrows, who is running the Flora London Marathon. An auction will be held in Hanley, Staffordshire on April 6 and will feature lots such as the labour services of two plumbers, an electrician and a gardener for the day.Dring says: "Tired brokers with no time to spend on sprucing up their ...

  • Charcol launches buy-to-let stepped tracker

    29 Mar 2005

    Charcol has launched a buy-to-let stepped tracker, with an opening rate of 4.59%.

  • Chelsea reports increased satisfaction among members

    29 Mar 2005

    Chelsea has reported an increased turnout, increased majority and increased satisfaction among its members at its AGM meeting.

  • CML welcomes government plans to expand home ownership

    1 Apr 2005

    The Council of Mortgage Lenders has welcomed today's announcement by the deputy prime minister and the chancellor of the government's commitment to encourage the expansion of home-ownership.

  • Curriculum Vitae - Mark Lofthouse

    28 Mar 2005

    "I support the greatest football team in the world - Carlisle United"

  • DA brokers in the dark about RMAR

    28 Mar 2005

    Pink Home loans campaign to educate directly authorised brokers on Retail Mediation Act Requirements reveals an astonishing 39% are not aware of the rules.Of the 159 DA brokers Pink questioned, only 94 were aware of the requirements. Of those not aware 49% were interested in compliance support from Pink.The Association of Mortgage Intermediaries warns in its latest newsletter that the Financial Services Authority is proposing a 250 fine for information received late and has ...

  • Dear Delia

    28 Mar 2005

    Dear Delia Self-employed businessman Steve is looking to move home. He has found a property but has been advised by the developer there are two other parties interested in purchasing it.

  • Did the chancellor go far enough in doubling the stamp duty threshold to 120,000??

    28 Mar 2005

    The increase in the Stamp Duty threshold will help some first-timers but a wholesale reform of the tax would be more useful, say our experts

  • Direct Line launches new fixed rate mortgages

    31 Mar 2005

    Direct Line is launching a new range of fixed rate mortgages from April 4. These will be available at a rate of 5.15% for two, three and five year terms. Customers will also be able to pay up to 10% extra during the fixed rate period with no charge/penalty.The arrangement fee is 399 for remortgages and 299 for house purchase mortgages.The valuation is free for remortgages. Legal fees are free for remortgages when customers use our solicitors package, with maximum LTV of 95%.

  • Direct Line launches new range of fixed rate mortgages

    1 Apr 2005

    Direct Line will launch a new range of fixed rate mortgages on April 4, with a 5.15% rate.

  • Economists say there will be no base rate rise soon

    28 Mar 2005

    With the general election looming and inflationfigures remaining unchanged, economists predict interest rates will remain at the current rate for some time.The annual rate of inflation remained unchanged this month at 1.6%, prompting calls for the base rate to be frozen.John Wriglesworth, housing economist at Hometrack, says: "I don't think interest rates will increase in the next six months because of the election. And with the Stamp Duty threshold being increased the housing ...

  • Emails reveal RAMP turmoil over Foxall resignation

    28 Mar 2005

    Leaked emails from the Regulatory Alliance of Mortgage Packagers show members were in turmoil over issues surrounding the shock resignation of compliance officer Sam Foxall.Dating back to the beginning of January, the correspondence shows members demanding managing director John Rice show board members her resignation letter. To save further embarrassment, Mortgage Strategy is not revealing individuals’ names.One member says: “I move that we speak to Sam and offer to employ at ...

  • Ethical denies wasting money

    28 Mar 2005

    Ethical Mortgage Solutions has denied allegations that its franchisees' cash has been wasted.The claims were made in an email sent by an Ethical franchisee to its principal, Mortgage Next.The email claims Ethical chief executive Steve Royal has spent the equivalent of five years' capital in under a year and has run out of money.The email alleges: "Royal advised me the money would be ring-fenced and only a fifth of cash received would be used each year."That is not the ...

  • Exclusive: Bear Stearns to acquire ICMG

    30 Mar 2005

    US investment giant Bear Stearns is thought to be behind a multimillion pound deal to buy mortgage distributor ICMG and its direct to consumer arm Essex & Capital Mortgage Corporation.

  • Financial health matters

    28 Mar 2005

    With the mortgage industry now regulated consumers should be able to have confidence they will be told the truth and treated fairly.

  • First National enhances 1st Mortgage product range

    30 Mar 2005

    First National, a GE company, is to make changes to its first charge mortgage product range from April 4, 2005.

  • Freedom Finance creates national mortgage team

    1 Apr 2005

    Freedom Finance is set to expand its consumer service offering with the creation of a national team of field based mortgage consultants.

  • Freedom sells 100m mortgage portfolio to Mortgages Plc

    1 Apr 2005

    Freedom Lending has today sold a 100m tranche of mortgage assets to Mortgages plc.

  • Get your website compliant fast

    28 Mar 2005

    Many firms have forgotten their websites when it comes to complying with the FSA's rules on financial promotions and this oversight must be fixed as a matter of urgency, says Neal Smith

  • Give the packaging sector the recognition it deserves

    28 Mar 2005

    From Kevin Friend This letter is written without the benefit of having read your March 7 issue. I was recently quoted as saying: "There is now a two-tier market" in the much maligned packaging sector. This is true. Some aspire to qualify for Europe and others struggle to exist in lower divisions. I have observed from the touchline the criticism of the packaging sector - in particular that from Michael Bolton. At Opus we choose not to compete with BM Solutions but to ...

  • House prices drop but mortgage approvals edge up

    31 Mar 2005

    House prices fell 0.6% in March according to the Nationwide. This leaves the year-on-year rate of increase at just 7.9%, its lowest level since June 2001.

  • igroup enhances first charge mortgage range

    29 Mar 2005

    igroup has unveiled a range of enhancements to its first charge mortgage product range.

  • Internet Insite

    28 Mar 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

  • Is TCF section on the FSA website useful?

    28 Mar 2005

    The FSA says TCF is not part of its rulebook but it is one of its key principles that mortgage firms must take seriously. But there are mixed opinions among brokers, many of whom don't think the website section is enough.So, Mortgage Strategy asks: "Do you think the TCF section on the FSA's website is necessary and, if so, does it go far enough in helping brokers understand the issues surrounding TCF?" Wayne Unsworth, Hallmark-ifa TCF has always been a big issue ...

  • Keep your mind on the job this spring

    28 Mar 2005

    While the gentle breeze of spring blows and the FSA seems pleased with its new flock, firms must guard against complacency regarding their systems and controls, says Ben Stafford

  • Keeping up with the cohabiting trend

    28 Mar 2005

    The increasing prevalence of unmarried couples cohabitating is a social reality known better to mortgage brokers than most and the law had better start catching up, says Rachel Blackmore

  • Landlords show confidence

    28 Mar 2005

    In January 2004 landlords expected to grow their portfolios by 1.1 properties by the end of 2004 and they have succeeded in doing this. They now have an average of 7.1 properties in their portfolios compared with six this time last year.Landlords anticipate they will increase their portfolios by a further 18% to 8.4 residential properties over the next 12 months. Adding just over one property on average is in line with the steady growth seen in recent years.Some 83.9% of respondents ...

  • Leeds & Holbeck recieves overwhelming support for name change

    30 Mar 2005

    In its annual meeting today members of Leeds & Holbeck voted overwhelmingly for the re-election of the retiring directors and for the proposed name change from Leeds & Holbeck to Leeds.

  • Lenders' websites: the grand illusion

    28 Mar 2005

    Lenders' websites have certain drawbacks when it comes to KFI production and sourcing systems will eventually prevail in the struggle for brokers' loyalty, says Richard Griffiths

  • Lib Dems pledge tax break for SMEs

    28 Mar 2005

    The Liberal Democrats last week pledged to lower taxation for small and medium-sized firms through a business rates allowance - and to abolish the Department of Trade and Industry.The party says with small businesses currently paying more of their turnover in business rates than larger companies, the introduction of a business rates allowance could save smaller businesses an average of 600 per year.In the introduction to the manifesto for business, Charles Kennedy, leader of ...

  • Lloyds TSB targets Muslims with Sharia-compliant deal

    28 Mar 2005

    The mortgage is one of a range of financial service products Lloyds TSB plans to launch for the Muslim community, many of whom take out traditional, interest-based mortgages or choose not to buy homes for religious reasons.The home finance offer follows Lloyds TSB's launch last month of an Islamic current account and complies fully with Islamic Sharia law which forbids both the payment and receipt of interest, known as Riba.Instead of lending money the bank will buy the home, ...

  • Majority of brokers using limited number of lenders

    29 Mar 2005

  • Make money from claims

    28 Mar 2005

    Swindon-based FS Complaint Handling takes a 25% cut of compensation it gets from any claim where it is ruled a customer has been mis-sold an endowment mortgage.The firm will give any broker who introduces a client to the firm 5% of that 25%. The average compensation for endowment mis-selling complaints is between 3,000 and 3,500.Mark Davis, managing director of FS Complaint Handling, says the knock-on result from endowment mis-selling is that brokers often remortgage the client ...

  • Managing director to leave UCB Home Loans

    31 Mar 2005

    After six years as managing director of UCB Home Loans, Charles Reed is to leave and move back into mainstream Nationwide at Swindon.

  • Market Watch

    28 Mar 2005

    Swaps edged down slightly last week but not enough to make any difference to lenders' pricing.

  • Mortgage Business Expo offers product and business advice for free

    30 Mar 2005

    Mortgage intermediaries visiting Mortgage Business Expo at G-MEX in Manchester on May 18 and 19 will get the chance to hear from and question members of the industry.

  • Mortgage Express joins direct to lender panel

    29 Mar 2005

    Optoma Broker Solutions has appointed Mortgage Express to its Mortgage Club panel.Optoma has been successfully packaging for Mortgage Express for the last 12 months and will continue to provide this route also.Matthew Bright, managing director at Optoma, says: "Optoma is committed to offering choice where possible. "We are delighted to be strengthening our relationship with Mortgage Express and are confident that this proposition with be beneficial to the intermediaries who use us."

  • Mortgage Express reduces its lifetime mortgage fixed rate

    1 Apr 2005

    Mortgage Express, has today reduced the fixed rate of its lifetime mortgage from 6.99% to 6.89%, overall cost for comparison is 7.3% APR. Roger Hillier, product development manager at Mortgage Express says its lifetime business is off to a good start this year, after strong growth of 221m during 2004. He says: "So far this year the lifetime market has continued to grow steadily. The outlook for the rest of 2005 is very positive, we expect the market to grow by 30% to 1.5bn."

  • Mortgage Next beefs up compliance team

    28 Mar 2005

    Mortgage Next has made four appointments to strengthen its compliance team.All have been appointed as regional compliance managers and report to Claire Wilkinson, head of compliance.Sue Sumner will provide support to appointed representatives in the South-West and Midlands region. Prior to joining Mortgage Next, Sumner worked for a number of financial companies such as Norwich Union and Ethical Mortgages.Pam Hawkins joins with experience of financial services. Having been ...

  • Mortgage Promotions joins forces with Goldsmith Williams

    30 Mar 2005

    Mortgage Promotions and Goldsmith Williams have launched an introducer scheme, offering a range of flexible remortgage, purchase, sale and Right to Buy products.

  • Mortgage staff make boys dolphin dream came true

    29 Mar 2005

    Flippers were flapping and dolphins dipping when staff at Regency Mortgage Corporation took part in an unusual sponsored swim, in a bid to make the dreams of a seriously ill boy come true.

  • Mortgage Times Group sets up specialist buy-to-let packaged panel

    29 Mar 2005

    The Mortgage Times Group has set up a specialist buy-to-let packaged panel consisting of 17 lenders.

  • Mortgage Trust extends MT select range to Chase De Vere

    29 Mar 2005

    Mortgage Trust, the specialist buy-to-let mortgage provider, is opening its MT select buy-to-let range to Chase De Vere Mortgage Management. The range consists of a streamlined version of Mortgage Trusts core buy-to-let range and boasts outstanding rates and simplified criteria requirements.

  • Moving story at NDL

    28 Mar 2005

    These photos show furniture being removed from Botley's Mansion, head office of Network DataBut before you get too excited, we should explain it's all part of the preparatory work for a documentary film on the life of Princess Margaret. Touchpaper Television is making the film which will be broadcast on Channel 4 next year. The Botley's Mansion interior is being used to represent Kensington Palace and the 30,000 filming fee being paid to Network Data will be spent on improving services ...

  • MPPI mis-selling growing problem, warns CETA

    30 Mar 2005

    CETA has warned that the mis-selling of mortgage payment protection insurance is a growing problem that has the potential to damage the reputation of the whole industry.

  • N&P launches buy-to-let mortgage

    29 Mar 2005

    Norwich and Peterborough is launching a buy-to-let mortgage with immediate effect.

  • NAEA underlines concern about HIPs

    28 Mar 2005

    The National Association of Estate Agents is reiterating its concerns about the impending introduction of Home Information Packs.This comes in the wake of the Office of the Deputy Prime Minister issuing research last week showing overwhelming public support for the proposals. The survey reveals more than 80% of those questioned think the introduction of HIPs is a good idea.The ODPM says one in six people who had had problems buying or selling a home think the provision of information ...

  • Nasty surprise nasty surprise

    28 Mar 2005

    As fixed deals end and clients get bumped up to lenders' SVRs there is concern payment shock could rock the market, but this is unlikely while lenders continue to chase business, says Harvey JonesAs fixed deals end and clients get bumped up to lenders' SVRs there is concern payment shock could rock the market, but this is unlikely while lenders continue to chase business, says Harvey Jones

  • Nationwide introduces 95 administration fee

    30 Mar 2005

    Nationwide is introducing a fee of 95 from April 1, 2005, to cover some of the administration costs associated with remortgaging to the society.Nationwide says it will continue to provide free legal services and valuations for remortgagors, and customers who choose to stay with the Society will not be charged the fee when they move to subsequent deals with Nationwide.Nationwide says its total upfront fees remain very competitive, especially when combined with its market leading rates.

  • Nationwide launches 10-year fixed rate at 5.19%

    30 Mar 2005

    Nationwide is to launch a 10-year fixed rate mortgage on April 1 2005, which it says is the lowest in the UK.

  • New head of commercial development at Client Data Systems

    1 Apr 2005

    Laurence Brown has joined Client Data Systems to head commercial development, raising brand awareness and take-up in the market.

  • Nick's notes

    28 Mar 2005

    One area of mortgage protection advice often overlooked is the use of a trust.

  • NU enters home reversion market

    30 Mar 2005

    Norwich Union is launching the NU Home Reversion plan on April 6, funded by Grainger Trust plc, a quoted residential property investor.

  • On the beat

    28 Mar 2005

    For those of a nervous disposition, its been a rough time theres no let-up in sight.

  • Optoma move to electronic document management

    29 Mar 2005

    Optoma Broker Solutions has now installed INVU technology through Lindenhouse Software to provide a more effective method of document management.

  • Overseas property website launched

    31 Mar 2005

    A new online tool at www.totalplanet.co.uk has been launched to help investors confidently buy in overseas property hot spots, focussing on emerging states such as Bulgaria, Croatia and Turkey.

  • Park Row boosts communications team with new appointments

    1 Apr 2005

    Park Row has announced the appointment of John Butterfield as group marketing and communications manager.

  • Pink offers MEX funded limited company buy-to-let

    31 Mar 2005

    Pink Home Loans is currently offering a limited company buy-to-let product funded by Mortgage Express.

  • Pink offers two-year fixed rate for sub-prime borrowers

    29 Mar 2005

    Pink Home Loans is currently offering a two-year fixed rate sub-prime product as part of its fees assisted remortgage campaign.

  • PMPA launches broker payment protection scheme

    1 Apr 2005

    The Professional Mortgage Packagers Alliance is to launch its PMPA intermediary payment protection plan.

  • Processing system launched

    28 Mar 2005

    The web-based system allows brokers to process mortgage applications from submission to offer including instructing references and controlling the timing of valuations.The technology guides brokers through the underwriting process from credit search to offer using step by step guides to each lender's requirements. The system is available 24 hours a day, 365 days a year, and allows intermediaries to prioritise cases as they wish.The service is supported by 19 lenders including ...

  • Psychometric tests assess approach, not ability...

    28 Mar 2005

    Mark Witcomb is senior consultant at Venatus Business Intelligence

  • Purely warns against Nationwidess 10-year fix

    30 Mar 2005

    Purely Mortgages has warned consumers should be aware of Nationwidess 10-year fix pitfalls.

  • Quest urges property sector to not rest on its laurels

    31 Mar 2005

    Quest has urged the property sector to not rest on its laurels and says Home Information Packs are on its way with no contingency for delays

  • RAMP's secret lending plans

    28 Mar 2005

    Minutes of a Regulatory Alliance of Mortgage Packagers board meeting held last year reveal the organisation is considering plans to become a lender.Leaked emails from RAMP include notes taken at a board meeting on October 1, 2004 saying: "It was agreed that RAMP must not lose momentum on the subject of lending as this is obviously an important strategic area for RAMP to pursue."Board members also expressed discontent over the idea of investing in one member's plan to launch ...

  • Real reasons Foxall walked out on RAMP

    28 Mar 2005

    The real reasons behind Sam Foxall's departure from her position as compliance director of RAMP have emerged in a document shown to Mortgage Strategy.In an email that accompanied her letter of resignation, Foxall expressed concern at the lack of administrative support and said it was difficult to operate in an informal working environment.She said in the email: "The role I am undertaking, which in most cases is an additional resource to the compliance department, means ...

  • Record month for mortgages in February says Buildstore

    29 Mar 2005

    Self build and renovation specialist BuildStore says that February was a record month for mortgage business.

  • Refocus on your web objectives

    28 Mar 2005

    Sally Laker, managing director of Mortgage Intellience, says getting the most out of your website means refocussing on your original marketing messages and objectives

  • Regency strengthens management team after MBO

    1 Apr 2005

    A fanatical rugby player now looks set to make conversions for the Bournemouth-based Regency Mortgage Corporation.

  • Research warns consumers fearful of online banking

    30 Mar 2005

    To attract more online banking customers and keep the existing ones, banks must change many consumers belief that online banking isnt safe, says a report published by Forrester Research.

  • Salans joins The Treasury Solicitors Panel

    1 Apr 2005

    International law firm Salans has won a place on The Treasury Solicitors Panel to undertake debt recovery work for Tsols clients, which includes central government departments and other public bodies.

  • Scottish Widows and Mortgage Promotions hit the road

    29 Mar 2005

    Scottish Widows Bank and Mortgage Promotions have revealed a series of breakfast meetings in the Scottish Widows Bank regional offices throughout the UK.

  • Self-cert deal for Mortgage Promotions members

    28 Mar 2005

    Opus has launched a prime self-cert tracker mortgage for members of Mortgage Promotions.The product is a true self-cert mortgage featuring a current rate of 5.54% tracking the Bank of England base rate plus 0.79% for three years with no redemption penalties.All the borrower has to provide is proof of residency and identification. It is only available to self-employed applicants for purchase and remortgage and comes with a fees-free legal service from Goldsmith Williams. It also ...

  • Self-cert will go mainstream this year

    28 Mar 2005

    After a turbulent 12 months for self-cert the big lenders are returning and this once-niche sector is poised to take its rightful placed in the mainstream of mortgage lending, says Paul

  • Selling the benefits of early repayment

    28 Mar 2005

    Talk to any half decent salesperson and they'll tell you: "Get me a foot in the door and I'll get you a sale." One way to do this has been around for years in the mortgage industry and that's churning.

  • Standard Life reviews its rates

    29 Mar 2005

    Standard Life has conducted a wide ranging review of its rates and adjusted its prices across its target customer age range for both single life and joint life products.

  • TBMC subscribes to Moneyfacts Data Screen

    30 Mar 2005

    The Business Mortgage Company has subscribed to Moneyfacts DataScreen.

  • The Mortgage Mole

    28 Mar 2005

    Digging the dirt in the mortgage world

  • There are several reasons for using a mortgage club

    28 Mar 2005

    From Nick BaxterI must respond to the letter from Rick Gifford (Mortgage Strategy March 14) entitled Why use a mortgage club?

  • TMB offer new set of reduced rates

    29 Mar 2005

    The Mortgage Business, the self-certification, flexible and buy-to-let specialist lender has brought out its new rates . The rates offer 1000 cash back, low introductory rates and little or no early repayment charges.

  • UCB Home Loans appoints new managing director

    1 Apr 2005

    Keith Astill has been appointed managing director of UCB Home Loans, the specialist lending subsidiary of Nationwide.

  • UCB Home Loans to extend mortgage offer for another two weeks

    30 Mar 2005

    UCB Home Loans, the specialist lender of Nationwide, is extending its limited remortgage offer for an additional two weeks, as a result of the high level of demand which the promotion has generated.

  • Valuable valuation system for brokers

    28 Mar 2005

    The integration of the Valuation Exchange into the Mortgage Express system will add value for intermediaries in terms of time savings and enhanced customer service, says Frank Eve

  • West Bromwich snaps up mortgageforce

    28 Mar 2005

    West Bromwich has bought national franchise operation mortgageforce as a wholly-owned subsidiary for an undisclosed sum.The strategy for mortgageforce includes doubling consultant numbers and investing in support services, brand marketing and business development.mortgageforce will remain independent while extending the society's operations into new markets.Rob Clifford, chief executive of mortgageforce, says: "We were not up for sale but we received a few interesting approaches ...

  • Widespread concern over productivity within financial services

    31 Mar 2005

    Almost half of senior managers have no system for measuring efficiency, although 42% of senior managers within financial services have no formal methodology for measuring their companys productivity, says Opertations Management.

  • Yield curve flattening defies consensus expectations

    29 Mar 2005

    Since the US Federal Reserve first raised interest rates from 1% on June 30 2004, the US Treasury yield curve has undergone a significant but very unusual yield curve flattening.

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