Mortgage Strategy
28 May 2007

  • CML signs green declaration

    28 May 2007

    The Council of Mortgage Lenders has become the first financial services trade body to sign the Trade Association Forum's declaration on climate change. It will focus on reducing staff travel and electricity consumption while recycling paper, plastics, glass and cans.

  • Nationwide increases fixed and tracker rates

    30 May 2007

    Nationwide has increased the rates on its range of fixed rate and tracker mortgages available from Friday June 1 2007.

  • Abbey slashes rates on range

    28 May 2007

    Abbey has reduced the rates on its no upfront costs mortgage range until June 23. The legal fees for a typical household cost over £1,400, and Abbey says the deal will save customers over £2,000 in upfront costs.

  • Advantage appoints BDMs

    29 May 2007

    Advantage has made three new appointments to the business development team.

  • Advantage appoints Steve Mason as sales project manager

    31 May 2007

    Advantage has appointed Steve Mason as sales project manager.

  • Advantage links to Hometrack valuation

    1 Jun 2007

    Advantage has selected Hometrack to provide free instant property valuations through its online mortgage sourcing system on www.adv-elect.co.uk, as part of its drive to improve service levels.

  • Advertising can get results

    1 Jun 2007

    Many companies in the mortgage industry continue to shy away from advertising, perhaps not realising the results it can achieve, perhaps worried about the regulatory scrutiny it may provoke.

  • After 10 long years, HIPs look broken

    28 May 2007

    Seven days is a long time in the mortgage market. This time last week the Home Information Pack industry was breaking out the champagne and toasting a job well done. The Conservative Party had failed to get HIPs annulled in the House of Commons and the industry could see the light at the end of the tunnel.

  • Alliance of Mortgage Packagers and Distributors: Integration is key to success

    1 Jun 2007

    I don't think, at this stage of the game, anyone within the mortgage industry doubts the value of packagers and distributors. We control distribution.

  • AMPD opts for dual platforms

    1 Jun 2007

    The Alliance of Mortgage Packagers and Distributors has confirmed it has dropped plans for a single technology platform agreeing on a dual platform approach instead.AMPD had originally said its 15 members would be considering the same technology platform but Eddie Smith, operations director for AMPD, says "it became clear" the onesolution route was not going to be achievable in the time scales required.The group will now use both Techlinx and Invent for its platform systems.

  • Another twist in the sad tale of HIPs

    28 May 2007

    The long and sad tale of Home Information Packs took another disastrous turn last week when the government said their introduction would be delayed until August 1.

  • Approvals slow in April

    30 May 2007

    April lending figures from the British Bankers' Association shows mortgage demand is finally moderating in the face of rising interest rates.

  • Assetz launches short-term French leaseback scheme

    1 Jun 2007

    Assetz has introduced a French leaseback product offering new options for overseas property investors.

  • Association of Mortgage Intermediaries: Time for FSA to start listening

    1 Jun 2007

    Last month the Practitioner Panel published its annual report for 2006/7 and it makes interesting reading.

  • Average house prices hit 179,935

    30 May 2007

    The average house price for England and Wales rose by 0.6% to 179,935 in April, the latest index from the Land Registry reveals.

  • B&B upgraded by Standard & Poor's

    30 May 2007

    Bradford & Bingley’s short-term rating has been raised to A-1 from A-2 by Standard & Poor's, following the firm's successful restructure over the past three years. Nick Hill, credit analyst at S&P, says: "The upgrade reflects a number of significant structural improvements to Bradford & Bingley in recent years.”

  • Banksy mural takes pop at banks

    28 May 2007

    Street artist Banksy has satirised high street banks with a mural showing a girl being dragged into a cash machine by a robotic arm. It appeared on a bricked-up window in Farringdon's Exmouth market and could be interpreted as a dig at the banking industry's record profits and high overdraft fees.

  • Barker blames low LTVs for FTB woes

    28 May 2007

    Kate Barker says conservative lending practices are making it harder for young people to get a foot on the housing ladder.

  • Base rate decision was unanimous

    28 May 2007

    The decision to raise the base rate in May was unanimous, the minutes of the Monetary Policy Committee's meeting show.

  • Baxter's blind spot means he can't see networks are thriving

    28 May 2007

    I like Nick Baxter. He is intelligent, knows as much about the mortgage industry as anyone and is unafraid to speak his mind. However, he seems to have a blind spot when it comes to networks.

  • BDM appointment at Hamptons

    28 May 2007

    Hamptons Mortgages has appointed Dean Spendiff as business development director. He has worked in financial services for 20 years with almost 15 years of experience in estate agency financial services. Spendiff's main role will be to further develop referrals from estate agency parent group Hamptons International.

  • BDS and paaleads launch exclusive

    28 May 2007

    BDS Mortgage Group has teamed up with paaleads.com to launch an exclusive offer to its network members.

  • Be aware of the FSA's cultural focus

    28 May 2007

    The regulator's recent Treating Customers Fairly progess report hints at the importance of robust training schemes so brokers should be prepared

  • Bespoke underwriting for large loans

    28 May 2007

    Business Lending has introduced a bespoke underwriting facility for loans between 750,000 and 3m.

  • Big Smoke hots up as prices spiral

    28 May 2007

    London is experiencing rapid house price growth, fuelled by City bonuses, foreign investors, a supply shortfall and the Olympics. There's no sign of a slowdown just yet, says Sally Laker

  • BM Solutions axes 5% deposit on Mortgage Plus

    30 May 2007

    BM Solutions has made some key changes to its Mortgage Plus product including allowing the 5% deposit to be taken from the unsecured part of the loan.

  • Bristol & West relaunches website

    28 May 2007

    Bristol & West Investments has relaunched its website under the new identity, bridgingloans.com. It is aimed at borrowers who need quick financing to complete deals.

  • Broker attacks RMAR farce

    28 May 2007

    A broker has accused the Financial Services Authority of "farcical" regulation after he was ordered to fill out a Retail Mediation Activities Re-turn just two days after starting business.

  • Brokers not aware of TCF

    28 May 2007

    Just under half of all brokers are unaware of the Financial Services Authority's Treating Customers Fairly initiative, research from Platform reveals.

  • Brown's plans must be made a reality

    28 May 2007

    Prime Minister-to-be Gordon Brown's plan to build 100,000 new homes in five eco-towns was welcome, but it's hard not to be cynical when this type of initiative is launched, especially as far as this government is concerned.

  • Business execs daydream about sex during presentations

    29 May 2007

    Three in five British business executives daydream about sex when listening to presentations, research by the communications consultancy, the Aziz Corporation reveals.

  • CETA urges firms to check home inspectors insurance

    1 Jun 2007

    CETA Insurance has urged home sellers employing home inspectors to check their insurance details before allowing them to issue Home Information Packs.

  • Charol.co.uk to offer free advice to sub-prime borrowers

    30 May 2007

    Charcol.co.uk is offering free advice to borrowers with a poor credit history.

  • Clarity and speed are the best policies

    28 May 2007

    Public U-turns have received a lot of coverage in the press recently. Having promised that he would serve a full third term when standing for election in 2005, Prime Minister Tony Blair has now reneged on his commitment and passed the baton to his old rival Gordon Brown.

  • Comment

    28 May 2007

    The Council of Mortgage Lenders and the Intermediary Mortgage Lenders Association have recently embraced packagers. So have they finally come of age and if so, what differences are we likely to see on the macro level?

  • Commercial First completes sixth securitisation

    30 May 2007

    Commercial First has completed its sixth securitisation BMF 6 - which closed on May 18.

  • Compliance partnerships can work

    28 May 2007

    Small brokers can benefit from working with compliance consultancies but they must select partners with the appropriate resources and experience, says Steve Atkins

  • Concern over ERCs on lifetime deals

    28 May 2007

    Over the past two years, there has been much debate about the early repayment charges on lifetime mortgages.

  • Connect to launch network

    28 May 2007

    Connect Mortgages is to slash its broker book to create a network of directly authorised brokers.

  • Countrywide CEO predicts consolidation in two years

    28 May 2007

    Angelo Mozilo, chairman and chief executive officer of CountrywideFinancial Corporation, predicts that within two years just two lenders - his company and Wells Fargo Bank - will control 40% of the US mortgage market.

  • Curriculum Vitae - Colin Franklin

    28 May 2007

    "I was press-ganged into a rendition of The Herring Song.

  • Dates for MS' broker roadshows announced

    28 May 2007

    The dates for Mortgage Strategy's Invi-tational roadshows, which are aimed at brokers across the UK, have been finalised.

  • DB gives assurance on broker bid

    1 Jun 2007

    DB Mortgages is to launch a direct-to-broker online proposition but has assured packagers that it is not turning its back on them.

  • Dear Delia

    28 May 2007

    Dear Delia, My clients John and Sarah have decided to move out of their flat and into a larger family house. John is a production director and earns 50,000 and Sarah is a marketing manager and earns 25,000. Other than their mortgage, their only other financial commitment is a car loan which costs 300 per month. They want a mortgage of 300,000 to buy a property worth 400,000 but have found income multiples a constraint. What can they do?

  • Don't miss the techno boat

    1 Jun 2007

    The growing use of technology in all business sectors over the past couple of years has resulted in much discussion, and quite rightly so. Its positive impact in the business community is staggering and has been the catalyst to boosting efficiency and reducing costs as e-commerce has been fully embraced.

  • e.surv to dominate market through Ekins and C&G deal

    31 May 2007

    Rumours are rife that e.surv is just days away from acquiring Barclay’s surveying and valuations firm Ekins and Cheltenham & Gloucester’s valuations arm in a deal that would see it instantly secure around 30% plus of the market.

  • Em- reveals roadshow competition winners

    31 May 2007

    Em-financial has revealed the winners of its May roadshow competitions.

  • End negative network news

    1 Jun 2007

    Having just completed my usual trawl through the financial press, I am disturbed by the many column inches penned by industry experts jumping on the various flavour-of-the-month 'anti' bandwagons - anti-packagers, anti-home information packs and so on. This month, however, networks have come in for a severe battering.

  • Equity release rates beat SVRs

    28 May 2007

    Safe Home Income Plans figures show average equity release rates are still lower than average SVRs for mortgages. The average rate for the top 10 equity release providers is 6.39%, whereas the average SVR from the top 10 lenders is 7.32%.

  • Estate agent complaints rise

    28 May 2007

    Complaints to the Ombudsman for Estate Agents rocketed by 41% last year.

  • Exclusive Connections: Don't take us for granted

    1 Jun 2007

    The mortgage market is at its best a carefully-orchestrated mechanism of supply and demand that operates with the minimum of fuss and the maximum of benefit to all involved.

  • Experts chicken out of Kiev deals

    28 May 2007

    Property experts have urged in-vestors to proceed with caution following reports last week in the national press about property investment opportunities in the Ukraine.

  • Expo indicates a change is in the air

    28 May 2007

    The recent Mortgage Business Expo in Manchester was a good opportunity to gauge what's hot and what's not in the market and apart from a lot of companies selling foreign properties, this Expo saw a high proportion of exhibitors in-volved in the areas of secured loans, bridging finance and commercial mortgages.

  • Expo reports 10% uplift in visitor numbers

    29 May 2007

    The organisers of Mortgage Business Expo Manchester have reported visitor numbers hit 2,670 in 2007, up 10% from the 2006 show.

  • Fast-track killing off self-cert deals

    28 May 2007

    The self-cert market has been de-scribed by the head of one of the UK's top 10 lenders as "dead on its arse" as a result of brokers favouring fast-track deals.

  • Fees debate leaves clients facing the bill

    28 May 2007

    Does the primary customer relationship lie with brokers or lenders? This debate is being played out in the mortgage industry and from the perspective of many brokers, the argument boils down to retention fees.

  • Former-BM Solutions BDM joins edeus

    29 May 2007

    Former BM Solutions business development manager Vicky Jackson has joined edeus.

  • Foxtons acquired by BC Partners for 390m

    28 May 2007

    Foxtons has been acquired by private equity firm BC Partners for 390m, earning its founder Jon Hunt an im-pressive 370m windfall.

  • Freehold: Everyone has a role to play

    1 Jun 2007

    I love this business. Sometimes I hate it, but mostly I love it. Our industry is brim-full of personalities, but there are some people who have, let's be kind here, over-inflated opinions of themselves.

  • FSA publishes final fees for 2007 and 2008

    31 May 2007

    The Financial Services Authority has published the final FSA fees and Financial Ombudsman Service levies for regulated firms for 2007 and 2008.

  • FSA sees greater accuracy in ads

    28 May 2007

    The Financial Services Authority says it has seen the accuracy of advertising claims made by home and motor insurance firms improve. Its review of the sectors' advertising found 94% accurately described the savings consumers could achieve.

  • GHL joins RAMP

    30 May 2007

    The Regulatory Association of Mortgage Packagers has appointed GHL as a full member.

  • Giant in the making

    1 Jun 2007

    Set up just 18 months ago, Personal Touch Packaging is one of the fastest-growing packagers in the non-conforming mortgage market. Founder Rob Jupp is literally a giant of a man - and he is on course to turn PTP into a giant business. Matthew West caught up with him

  • GMAC unveils two-year fix

    28 May 2007

    GMAC-RFC has launched a mainstream two-year fix at 5.25%. The deal, which is fixed until July 1 2009, comes with a free legals package. The lender also has launched a product with a lower arrangement fee for 0.5% on top of the fixed rate.

  • Gordon, scrap the sound bites and act

    28 May 2007

    Hard on the heels of Gordon Brown's response to Tony Blair's resignation speech, when he said New Labour would become new New Labour without spin, came his promise to put home ownership at the heart of his premiership. What's more, he'll "make policies about house building a central issue at the next election".

  • Government must spend its way out of this crisis

    1 Jun 2007

    Apparently, consumer confidence has come back with a bang according to the Nationwide Building Society, which claims the Prime Minister's recent announcement that he will leave office imminently pushed the lender's consumer confidence index up a whopping nine points in May - its highest level in 18 months.

  • Government planning proposals could boost equity release

    30 May 2007

    The governments proposed changes to planning laws could boost the equity release market, says In Retirement Services.

  • Hack attacks commission

    28 May 2007

    Consumer champion Paul Lewis, presenter of Radio 4's Money Box programme, says sales advice given by brokers paid by commission should be viewed sceptically by clients.

  • Heirhead shows us how not to do it

    28 May 2007

    Paris Hilton's scrapes with the law show the dangers of not reading documents properly. Mortgage professionals would do well to learn these lessons on behalf of their clients, says Katie Tucker

  • Help signs deal with Your Case Signed

    31 May 2007

    Help Personal Finance has signed a deal with Your Case Signed, in a bid to speed up application to completion times.

  • Hipstar confirms commitment to HIPs

    30 May 2007

    Hipstar has reassured its agents that it remains committed to providing Home Information Packs to estate agents and intermediaries.

  • HML gets Fitch servicer rating of 2+

    30 May 2007

    Fitch Ratings has given Homeloan Management Limited a servicer rating of 2+.

  • Home of Choice: Size really doesn't matter

    1 Jun 2007

    Is size important? Not as far as the regulator is concerned. Small may be beautiful, but it doesn't make smaller firms immune from scrutiny.

  • House prices continue to slow

    31 May 2007

    Nationwide has revealed that the UK housing market is continuing to slow in May.

  • House prices to increase by 1.43% in June, says Your Move

    30 May 2007

    Estate agent Your Move forecasts the Land Registry index of the average UK property will increase 1.43% in June, compounding the May rises of 0.31%.

  • Housing market is softening, says CML

    1 Jun 2007

    The Council of Mortgage Lenders says that housing and mortgage market activity is softening in response to rising interest rates.

  • How do you think the latest interest rate rise will affect you?

    28 May 2007

    The Bank of England's Monetary Policy Committee increased the base rate from 5.25% to 5.5% this month. Industry pundits have voiced fears over this impact this hike could have on first-time buyers and those borrowers already struggling to meet their mortgage repayments.So this week Mortgage Strategy asks... How do you think the latest interest rate rise will affect you?

  • How will the future pan out?

    1 Jun 2007

    The mortgage market has for many years appeared to be behind the rest of the financial services industry in terms of its adoption of technology.

  • HR appointment at Advantage

    28 May 2007

    Advantage has appointed Andrew Dyos as director of human resources, learning and development. He previously managed customer service operations for O2's business-to-business clients.

  • Hush Hush

    1 Jun 2007

    Want to take this outside? Word reaches Hush Hush that someone was stupid enough to pick a fight with Rob Jupp after the recent Broomstick Ball at Ladies Day in Epsom. Were told the managing director of Personal Touch Packaging just looked at the rather drunken individual before walking away. Presumably the individual in question either thought he was Superman or the beer goggles he was wearing made Jupp look very short.

  • I was misled by AHIPP's rose-tinted portrayal of HIPs' development

    28 May 2007

    "That's another fine mess you've got me into" was Oliver Hardy's default reaction to the hapless bumblings of his sidekick Stan Laurel. After last week's fiasco, this could be adopted by the Home Information Pack industry as its motto.

  • Ian Whittaker to head marketing at MPLC

    28 May 2007

    Mortgages PLC has appointed Ian Whittaker as marketing director.

  • If it's a yes you want, take the self-certification route

    1 Jun 2007

    From Kevin ThortonI wonder if anyone can explain this: I submitted a case to Bank of Scotland and it was declined on credit score.

  • Industry comments on BoE mortgage figures

    31 May 2007

    Hometrack has predicted that the latest lending statistics from the Bank of England further prove that the UK housing market is set for a downturn.

  • Industry events bust the liver but boost business

    28 May 2007

    Hardly a week goes by without some mention in the trade press of a forthcoming event, summit or black tie awards evening.

  • Industry figures point to lending slowdown

    28 May 2007

    The Council of Mortgage Lenders predicts that gross mortgage lending will grow by only 4% in 2007 following the massive 20% increase seen last year.

  • Industry gives thumbs down to Brown's eco-towns

    28 May 2007

    Gordon Brown's plans to build eco-friendly houses may have been a hit with the green brigade but mortgage professionals don't agree.

  • InterBay Commercial unveils online calculator

    29 May 2007

    InterBay Commercial has launched an online calculator designed exclusively for brokers to build and compare loan repayment options for commercial mortgages.

  • Intermediaries want to be kept In The Loop

    28 May 2007

    Research by Accord Mortgages shows that 90% of brokers want access to their clients' arrears data.

  • Investec makes acquisition offer for Kensington

    30 May 2007

    Kensington Group has revealed its mystery suitor is Investec and says the two parties have reached an agreement regarding an acquisition offer.

  • Investec takes over Kensington

    1 Jun 2007

    The board of Kensington Group has unanimously accepted what some have called a low-ball acquisition offer from Investec, the South African-based financial services company.

  • Ipswich FTB deal to boost parental support

    28 May 2007

    Ipswich has launched a product aimed at first-time buyers forced to look to the bank of mum and dad to get on the property ladder.

  • Is self-regulation the way forward?

    1 Jun 2007

    The latest meeting of the Association of Mortgage Intermediaries Packager Taskforce has suggested the possibility of self-regulation as an alternative to regulation under the Financial Services Authority.

  • It's the brokers who really bring home the bacon

    1 Jun 2007

    From Alex MurrayI am delighted to see a number of packagers are starting to receive investment to develop their businesses.

  • Jobs

    28 May 2007

    Life as a sole trader can be lonely but Rob Lenane has helped me forge business relationships with other Mortgage Next brokers and is always on hand to help, says Hannah McCourt

  • Just what the financial doctor ordered

    28 May 2007

    Figures recently released by Cancer Research UK show that the disease is no longer the death sentence it once was. Earlier diagnosis through better screening and greater awareness coupled with improved treatment have seen huge im-provements in 10-year survival rates over the past 30 years - 46.2% now compared with 23.6% in the 1970s.

  • Kensington launches exclusive loans through Enterprise Finance

    1 Jun 2007

    Enterprise Finance has launched an exclusive range of loans in partnership with Kensington Secured Loans.

  • Kensington says yes to commercial after Investec sale

    31 May 2007

    Kensington Group has performed a U-turn on its decision to enter the commercial mortgage market in the wake of its takeover by Investec.

  • Kiosks to offer information

    28 May 2007

    Elderly home owners could soon be able to find out whether equity release could improve their financial situation while doing their weekly food shop.

  • Learning curve

    28 May 2007

    Following its takeover of broker-friendly Portman, Nationwide will offer more in terms of BDM support, brand choice and product development, chief executive Graham Beale tells Clare Bettelley

  • Leeds business analyst scoops 1,500 award

    31 May 2007

    A business analyst at Leeds has scooped the Excellence in Action Gold Award of 1,500.

  • Legal & General: Feeling a part of something

    1 Jun 2007

    I am pretty clear in my own mind how I feel about the businesses and organisations I have dealings with.

  • Legal definition

    1 Jun 2007

    Q: Clients who are in a hurry to move into their new home often ask why so much time should be left between exchange and completion. What's the best way to explain this?

  • Lending slows in April

    31 May 2007

    The Bank of England has revealed that figures for lending to individuals in April fell across the board compared to March numbers.

  • Let's look at the shape of HIPs to come

    28 May 2007

    The warm glow of schadenfreude was felt by many as communities secretary Ruth Kelly stood up in the Commons last week to put Home Information Packs on the back-burner.

  • Letter of the Month: Stop whingeing and start working together

    1 Jun 2007

    From Andrew BrownlieWhen Mortgage Distributor was launched, I looked forward to reading about how the industry is moving forward, working together and building a strong future.

  • LIb Dems call for more social housing

    31 May 2007

    The Liberal Democrat Party has urged the government to kickstart a desperately needed social housing programme.

  • Life cover is part of our business too

    28 May 2007

    The death of some my friends' parents has led me to think about life cover. Brokers must sort insurance out for their clients, because not doing so is a dereliction of duty, says Sue Read

  • Lighthouse launches satellite packager

    1 Jun 2007

    Lighthouse Group has launched a satellite packager in partnership with The Mortgages Times Group that it says has the potential to become a rival packager in its own right.

  • Lighthouse teams up with Mortgage Times

    30 May 2007

    IFA firm Lighthouse Group has teamed up with The Mortgage Times Group to launch a new mortgage packaging service and support desk.

  • LV= agrees option to acquire Tomorrow

    30 May 2007

    LV= has entered into an option agreement to acquire Tomorrow from Swiss Re.

  • LV= is ready for Tomorrow

    1 Jun 2007

    LV= has entered into an option agreement to acquire the new business operations of Tomorrow - formerly the GE Life business - from Swiss Re. The option becomes exercisable in late December 2007, subject to approval from the Financial Services Authority.

  • Manchester appoints director

    31 May 2007

    Manchester has appointed Paul Rumbold as group development director.Rumbold was previously marketing and sales director at Affirmative. He begins at his new post on June 13.

  • Marketwatch

    28 May 2007

    Swaps continued to rocket last week. Two-year swaps are just 0.01% below 6% now. Based on the past few weeks, I'm sure they will breach this level next week.

  • Me & My Car

    28 May 2007

    I had to use my son's school fees to pay for the open topped sports classic that is my sleek and elegant Panther Kallista, but it was worth every penny, says Tim Henson

  • MEX extends B2L criteria

    29 May 2007

    Mortgage Express has extended its buy-to-let lending criteria for landlords with a year’s experience

  • Mixed outlook flagged for commercial sector

    28 May 2007

    Land Securities has warned of a mixed outlook for the commercial mortgage sector, with private investor profits potentially on the decline.

  • Money Partners joins AFB

    28 May 2007

    Money Partners has joined the Association of Finance Brokers as an associate member. Colin Sanders, chief executive officer of Money Partners, says: "Joining the AFB gives us the chance to ensure we are represented in the secured loans market."

  • Mortgage Intelligence: Harness the power of the net

    1 Jun 2007

    There can be few people in business who do not use the internet on a daily basis - whether for research purposes, booking travel arrangements or merely keeping up to date with emails.

  • Mortgage Next launches fixed rate

    28 May 2007

    Mortgage Next has launched a two-year fixed rate deal at 5.69% with an application fee of £199. The product, funded by Abbey and only available through Mortgage Next, has a maximum loan amount of £500,000.

  • Mortgage Promotions: FSA must take a tougher line

    1 Jun 2007

    In a recent speech at the Building Society Association annual conference, the Financial Services Authority gave a stark warning to lenders that they should be wary the UK sub-prime market could go the same was as the US market, and lender vulnerability was beginning to show through.

  • Mortgage Strategy voted brokers' top trade title

    31 May 2007

    Mortgage Strategy has been voted top UK mortgage trade title in a poll of intermediaries by Mortgage Support Network.

  • MS columnist wins award

    28 May 2007

    Rob Jupp, managing director of Personal Touch Packaging, has been named Essex Countywide Businessman of the Year 2007 by haart estate agents.

  • Mutuals urged to monitor channels

    28 May 2007

    The Financial Services Authority has urged societies to monitor their distribution channels. Clive Briault, managing director of retail markets at the FSA, says mutuals should select channels consistent with their products being bought by the intended types of consumers.

  • N. Ireland is the real winner

    1 Jun 2007

    Phenomenal GrowthThose of you who read my last feature will no doubt recall the phenomenal house price growth achieved in Northern Ireland. Over the past 12 months, the average house price in Northern Ireland has increased by 37%, compared to a UK average of 11.1%. Indeed, so significant was the house price increase experienced in Northern Ireland last year (53%) that we declared 2006 'Northern Ireland's year'. Two years ago, Scotland was the only part of the UK with lower average ...

  • N4 predicts broader outlook for AVM's

    31 May 2007

    N4 Solutions has predicted that AVM technology will be much broader than just valuations providing brokers and lenders with opportunities for added value services.

  • NAEA moves to new home

    31 May 2007

    National Association of Estate Agents will be moving to new premises early this summer after nearly 30 years in its current home in Warwick.

  • NatWest offers tiered rental cover

    28 May 2007

    NatWest has introduced a tiered approach to rental cover that will benefit higher earners. Chris Pearson, director of intermediary mortgages at NatWest, says: "We are happy to take into consideration surplus personal income to cover any rental income shortfalls."

  • Network Data Holdings: Ecology should begin at home

    1 Jun 2007

    What is a green mortgage? A number of people may be embarrassed if you ask them that question. They simply do not have a compelling, or even modestly convincing answer.

  • New online sourcing system is 'far better than Trigold'

    1 Jun 2007

    An online sourcing system for the specialist lending market that combines real-time credit searches and a multi-lender cascade has been launched.

  • New site helps brokers access highest proc fees

    31 May 2007

    A new website has been launched, which helps brokers choose which distribution channel to access products by on the basis of proc fee levels or a the packager’s service rating as voted for by other brokers using the system.

  • NHPAU report paints gloomy picture on affordability for first-time buyers

    1 Jun 2007

    The phenomenal growth in the housing market has reached the point where borrowers will need 10 x their income in the future in order to get onto the property ladder, a new report has stated.

  • North and south, confusion abounds

    28 May 2007

    What a surprise, Home Information Packs have been delayed. Although it's not a U-turn yet, it's yet another 11th hour decision made by this government. Remember the self-invested personal pension debacle?

  • Now's the time to ditch the jargon

    28 May 2007

    The mortgage industry loves its acronyms, initialisms and jargon, but they leave clients in the dark. Since transparency is the name of the game, now's the time to move on, says Rob Griffiths

  • On the case

    1 Jun 2007

    Client A owns a house valued at £360,000 and has a buy-to-let mortgage with a sub-prime lender. She wants to move into this property but needs £126,000 to refurbish the property to a high standard before moving in. Unfortunately, she has not met the last five months' mortgage payments.

  • Online DIP offer from Advantage

    28 May 2007

    Advantage says all requests for decisions in principle submitted through its online mortgage sourcing system will have access to free instant property valuations. This offer is open for a limited period and is available for purchase and remortgage cases up to 90% LTV.

  • Optoma's call for packaging league tables receives a poor reception

    1 Jun 2007

    Optoma has been criticised after it called for the introduction of league tables, which list the quality of mortgage packaging to help brokers to make an informed decision when choosing a packager.

  • Paaleads enhances bidding system

    28 May 2007

    Paaleads.com has launched an auto-bid system to automatically set brokers maximum lead bids.

  • Packager wins PS3

    28 May 2007

    A packager from Tamworth has won a PlayStation 3 games console, courtesy of Advantage.

  • Packagers stronger than ever

    1 Jun 2007

    Two-year swaps have edged above 6% and we have seen a recent onslaught of product withdrawals and fixed rates being re-priced.

  • Paragon sees B2L advances rise

    28 May 2007

    Paragon Group has reported buy-to-let advances are up 44.9% to £1.93bn. Its interim results for the six months to March 31 2007 show its buy-to-let portfolio is up 45% to £8.65bn, while arrears remain low and stable.

  • Paragon: Landlords are not fiddling their taxes

    29 May 2007

    Paragon Mortgages has refuted reports in the national press that landlords are claiming too much tax relief.

  • Parents helping FTBs are pushing up prices

    28 May 2007

    The Council of Mortgage Lenders says parents offering their children financial support to buy property are helping to push up house prices.

  • Paterson departs Park Row to take director role with Enterprise Group

    1 Jun 2007

    Enterprise Group's expansion plans appear to be going into overdrive with the recent announcement that Kevin Paterson is leaving his position as national sales director of Park Row after six years to take up the position of group marketing director at Enterprise at the beginning of July.

  • Paterson quits Park Row for Enterprise Group

    1 Jun 2007

    Kevin Paterson has quit his position as national sales director at Park Row to take up the position of group marketing director at Enterprise Group.

  • Pensioners benefit from price rises

    28 May 2007

    UK pensioners have benefited from property price rises of £41.5bn over the first three months of 2007, according to Homewise's Pensioners' Property Equity Index. This equates to a total increase of around £461.49m every day. The nation's 6.3 million retired home owners have each gained an average of £6,553 in property wealth since January.

  • Pensions crisis opens the door for B2L

    28 May 2007

    People are living longer and spending more time in retirement than ever before. This means planning for life after work is becoming more crucial. Working out how we will support ourselves in retirement is one of the most significant choices we will make in our lifetimes.

  • Picture to re-enter broker market within four months

    30 May 2007

    Picture Financial is gearing up to re-enter the intermediary sector, having stepped up its knowledge of the broker market.

  • Pink offers free legals

    29 May 2007

    Pink Home Loans is offering free legals on five of the most popular lenders on its packaged submission panel.

  • Political pundits say Brown will ditch HIPs

    29 May 2007

    POLITICAL pundits Diane Abbot and Michael Portillo have predicted that Gordon Brown will dump Home Information Packs after he becomes Prime Minister on June 27.

  • Post Office and BoI to extend joint financial services venture to 2020

    31 May 2007

    Post Office Financial Services and Bank of Ireland are to extend their joint venture until 2020.

  • Post Office Financial Services greets millionth customer

    29 May 2007

    Post Office Financial Services has seen its millionth customer through its doors three years since its launch.

  • Predictable rate rise but the future is uncertain

    28 May 2007

    On May 10 we became certain of two other things in life besides death and taxes. One was the announcement by Tony Blair that he would step down as Prime Minister at the end of June.

  • Premier Mortgage Service: Prove it was the right deal

    1 Jun 2007

    The process of research and recommendation is a critical part of a broker's job, and one that has played a key part in the Financial Services Authority's quality of mortgage advice review.

  • Professional Mortgage Packagers Alliance: Regulation debate is not over

    1 Jun 2007

    At the recent Mortgage Summit in Dubai, Mandy Spink, head of the Financial Services Authority's mortgages and credit unions department in the small firms division, confirmed packager regulation was seen as unnecessary for the foreseeable future.

  • Quick Bridge to launch AVM

    28 May 2007

    Quick Bridge will offer automated valuation models, enabling it to complete shortterm loans within 24 hours. Andre Cinnamon, head of business development at the bridging lender, says its AVM service will save time and slash costs by over 90%.

  • RAMP adds to membership

    28 May 2007

    The Regulatory Association of Mortgage Packagers has welcomed Clear Mortgage Administration and Formula Mortgages as associate members. In March, RAMP reported it would recruit 10 associate members. The involvement of Clear and Formula brings its number of appointments to three, after KGB Packaging joined last month.

  • RBS Intermediary Partners appoints head of corporate sales

    30 May 2007

    Graham Felstead has been appointed head of corporate sales at Royal Bank of Scotland Intermediary Partners.

  • Redundancies on cards as Scottish Provident partners Capita

    30 May 2007

    Redundancies will be “unavoidable” as Scottish Provident takes on Capita as a customer service and policy administration provider for its Self Assurance and Pegasus protection policies.

  • Regulator urged to speak clearly

    28 May 2007

    The Association of Mortgage Intermediaries has urged the Financial Services Authority to improve the way it communicates with small firms by speaking in a language they can understand.

  • Regulatory Alliance of Mortgage Packagers: We won't copy the US crash

    1 Jun 2007

    The Financial Services Authority has seen fit to issue a warning that the UK's sub-prime market could be as vulnerable to a crash as its counterpart in the US, with all the fall-out which that event entailed.

  • Richard, network size doesn't matter as much as quality

    28 May 2007

    Every quarter we go through the same process of analysing mortgage net-work league tables, based on data produced by the Financial Services Authority. You know what I'm talking about - the number of appointed representative firms gained or lost over the past quarter.

  • S&P launches multiple GI policy to boost sales

    28 May 2007

    Select & Protect has launched a multiple general insurance proposition in a bid to double the number of policies it writes in the next 12 months.

  • Select Partnership offers exclusive product

    31 May 2007

    The Select Partnership is offering an exclusive product limited to Freehold packagers with Freehold Mortgage Limited. Select is offering 15% vendor or builders deposit, with no maximum on sitting tenants or close family member and the products are available across the UK.

  • Select Partnership offers three month deferred payment on secured loans

    31 May 2007

    The Select Partnership is offering a three month deferred payment period on some of their secured loan products. Select has access to over 40 lenders and numerous products are covered by this offer although other options are available. Paula Lucas, secured loans case manager for Select, says: "Payment holidays are always of interest to customers and brokers recognise the advantages of this for their clients."

  • Should lenders keep brokers in the loop about their clients' financial situations?

    28 May 2007

    In light of Mortgage Strategy's In The Loop campaign, this week our experts back moves to keep brokers informed of their clients' cases post-completion

  • Small firms face extra FSA scrutiny

    28 May 2007

    The TCF initiative is proving problematic for small firms and their failure to implement it has led the regulator to ramp up the pressure, but it will also give them more help too, says Frank Eve

  • SmartNewHomes.com calls for family homes

    31 May 2007

    SmartNewHomes.com has renewed its call for more family homes as apartments continue to dominate the new build market.

  • Society aims to help first-timers

    28 May 2007

    Tipton & Coseley has launched two products aimed at first-time buyers. They comprise a shared ownership product for new-builds and a family assisted product with collateral charges taken

  • Society launches self-cert tracker

    28 May 2007

    Stroud & Swindon has launched a flexible self-cert tracker at 0.99% above the base rate. The product is available for both house purchase and remortgages with a completion fee of £695 and a maximum LTV up to 85%.

  • Specialist focus

    28 May 2007

    The Mortgage Business Expo in Manchester had more of a focus on specialist market sectors than previous shows, says Daniel Nwaokolo

  • Spelling trouble

    28 May 2007

    The government's decision to delay the introduction of Home Information Packs until August 1 is the latest twist to this controversial initiative, says Rebecca Atkinson

  • SPF bolsters sub-prime with tie-ups

    28 May 2007

    Savills Private Finance will boost its sub-prime capabilities through relationships with Croydon-based packager Mortgage Match and Personal Touch Packaging.

  • Stay focussed despite HIP shambles

    28 May 2007

    What a farce. With just over a week to go, the government put the brakes on Home Information Packs for two months.

  • Subdued outlook for housing market, says Moneyextra

    29 May 2007

    Moneyextra says the outlook for the housing market for the rest of 2007 remains subdued.

  • Swift appoints regional development manager

    30 May 2007

    Swift has appointed Nick Shearer as regional account manager for south Wales and M4 corridor.

  • Swift marketing appointment

    28 May 2007

    Swift has appointed Ian Glover as marketing manager. Glover has held a number of senior marketing positions in a variety of industries including financial services, and will bring to Swift 20 years of marketing management experience.

  • Taking responsibility for self-cert

    28 May 2007

    The Financial Services Authority will soon report again on the findings of its monitoring of the self-cert market. Its last report highlighted concerns in certain areas - in particular where documentation does not make the reasons for choosing the self-cert route clear.

  • TCF medicine is good for small businesses

    28 May 2007

    The recent Treating Customers Fairly initiative update from the Financial Services Au-thority shows that just two months before its March 31 deadline, only 41% of small firms had met the target.

  • TCF might burst the FSA's balloon

    28 May 2007

    The increasingly stretched FSA runs the risk of its twin push for principles-based regulation and Treating Customers Fairly blowing up in its face, says Simon Burgess

  • Technology claims not hyped

    1 Jun 2007

    I was interested to read that 63% of the delegates at the Mortgage Summit voted in a straw poll that technology such as automated valuation models and point-of-sale offers are overhyped given the typical transaction cycle still takes 12 weeks.

  • Technology is key to future

    1 Jun 2007

    There has been an abundance of technological advances in the mortgage industry in recent years, including online initial disclosure documents, online mortgage sourcing and placement systems, online credit reports, online decisions-in-principle, binding point-of-sale decisions, point-of-sale offers and instant offers using automated valuation models.

  • Technology: the burning issue

    1 Jun 2007

    There are very few areas of the UK mortgage market that have stood still over recent years. Some of this has been through necessity, but much can be attributed to innovation and a genuine entrepreneurial spirit, much of which has been driven by intermediaries and distribution firms such as packagers. The drive for speed has spread throughout the mortgage distribution and sale process, and has touched on almost every link in the chain, from the most exciting to the mundane.

  • The Mortgage Mole

    28 May 2007

    Digging the dirt in the mortgage world...

  • The UK market is operating rationally

    28 May 2007

    It seems the base rate rises have finally taken their toll. April's lending was slightly down on the previous month, according to the Council of Mortgage Lenders. And Rightmove says house prices grew just 0.4% in the five weeks to May 12 - the smallest increase of the year. And some areas recorded falls.

  • The United Packagers Association: Why the show must go on

    1 Jun 2007

    Over the past few years I've heard growing dissent about the merits of large events in the mortgage calendar, such as the Mortgage Business Expo that we've recently returned from in Manchester.

  • This Week's Dilemma

    29 May 2007

    Networks promise the earth and I'm tempted to switch but which one will help my business succeed? I don't want to switch unnecessarily. I know this is an important decision and I need advice on what to look for so I can make an informed choice and not end up regretting it. Also, can being a member of a certain network be a deciding factor in whether a business is successful or not?

  • Title Deed - Friends Provident

    28 May 2007

    Friends Provident celebrates its 175th anniversary this year. Originally called the Friends Provident Institution, it was founded in 1832 by two prominent members of the Society of Friends - often known as Quakers or just Friends. The two were Samuel Tuke and Joseph Rowntree whose son, also called Joseph, became the chocolate magnate.

  • TMA launches dedicated desk

    1 Jun 2007

    The Mortgage Alliance has launched a dedicated mortgage desk for club members, which it says will focus particularly on the specialist markets.

  • TMP pledges to offer underwriting service

    30 May 2007

    The Mortgage Partnership, the mortgage packager with offices in the Wirral and Tamworth, has confirmed it will continue to offer its Freedom Lending on site underwriting service after the lender changes its name next month.

  • Training timetable

    28 May 2007

    Achieving professional qualifications is not enough in the era of Treating Customers Fairly - ongoing training is also important, says Christine Toner

  • Two thirds of people think estate agents are "wide boys"

    30 May 2007

    Two-thirds of people who have recently sold their house described their estate agents as wide boys, research from recently-launched fixed rate estate agency Wow reveals.

  • UCB extends free valuations

    31 May 2007

    UCB Home Loans is extending its free valuation incentive across its entire product range.

  • Unity reduces rental cover to 75%

    31 May 2007

    Unity Homeloans has reduced rental cover to 75% on all prime buy-to-let cases packaged through BDS Packaging.

  • Victoria defends increase in rates

    1 Jun 2007

    Victoria hiked rates across its entire product range last month, from between 80 to 100 basis points amid a storm of protest from its introducers.

  • We must avoid hand-me-down rules

    28 May 2007

    Readers with older siblings will be aware of the concept of hand-me-downs. As a child, how many times did you have to put on your older brother's or sister's clothes because your parents decreed there was nothing wrong with them? This despite the fact that you knew they were out of fashion and wearing them meant you would be the subject of ridicule.

  • Yorkshire to open branches

    30 May 2007

    Yorkshire says it will be opening15 new branches in the next three years increasing the society’s network of branches to 134.

  • You need a medical degree to evaluate critical illness cover

    28 May 2007

    Now that companies have released their definitions for critical illness cover and lists of covered conditions, brokers in theory should find it easier to recommend suitable policies.

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