Mortgage Strategy
29 January 2007

  • December gross lending hit £18.1bn

    29 Jan 2007

    Gross mortgage lending in December 2006 was £18.1bn, 7% more than the £16.9bn seen in December 2005, reveals the British Bankers' Association. In line with seasonal patterns, this total was down on November 2006's record of £21.4bn.There were 123,518 mortgage approvals in December, with an aggregate value of £13.4bn. The average loan approved for house purchase was £146,400.

  • Energy certificates may cut emissions

    29 Jan 2007

    The National Home Energy Rating scheme says Energy Performance Certificates are a good way to tackle climate change and promote energy efficiency. Austin Baggett, head of the NHER scheme, says: "The housing sector is responsible for nearly 30% of the UK's carbon dioxide emissions. EPCs are a neat way to promote energy efficiency."

  • FSA strikes off adviser

    29 Jan 2007

    The Financial Services Authority has banned independent financial adviser George Robert Piggott from all regulated activities in the financial services industry.

  • Ranking omitted the UK's longest established network

    29 Jan 2007

    From Adrian Lewis

  • Swift fixes for RAMP members

    29 Jan 2007

    Swift has released a range of two and three-year fixed rates exclusively for members of the Regulatory Association of Mortgage Packagers. The fixed rates are available for clients who have any level of arrears and County Court judgements.

  • A&L launches two-year tracker

    29 Jan 2007

    Alliance & Leicester has launched a range of prime mortgages that includes a two-year base rate tracker at 4.99%.

  • Abbey on cusp of sub-prime

    29 Jan 2007

    Abbey is believed to be on the brink of launching into the sub-prime market with a light prime proposition.

  • Abbey reports £32bn gross mortgage lending

    1 Feb 2007

    Abbey has reported gross mortgage lending of £32.6bn in 2006 bringing its estimated market share of 9.4%. In its financial results for 2006, the bank says it improved its service levels in mortgages and developed its product range in order to capture growth in the expanding and higher margin non-standard segments.

  • Abbey warns of 1990s repeat

    2 Feb 2007

    The Abbey has found that the current political and economic situation in the UK is very similar to that of 1990, leading to speculation that the negative house price growth seen back then could happen today.

  • Abolish green belt policy, says think tank

    29 Jan 2007

    An independent think tank has slammed the UK planning system and called for the national green belt policy to be abolished.

  • Accord unveils new prime fixed rates

    30 Jan 2007

    Accord has relaunched its entire range of prime fixed rate mortgages, including end dates to May 1.

  • AHIPP extends area trials

    1 Feb 2007

    The Association of Home Information Pack Providers has extended its area trials to a further 12 locations across the UK.

  • Alliance of Mortgage Packagers and Distributors: Chance for lasting relationship

    1 Feb 2007

    With new lenders keen to listen and valuing the immediate distribution that packagers can provide, there is an opportunity to shatter the old perception of lender versus packager by building open and honest relationships based on more than just the odd exclusive product

  • AMI moves to set up packager group

    1 Feb 2007

    The Association of Mortgage Intermediaries is to set up a standing committee to represent packagers in a bid to unify the industry.

  • AMI slams FSA guidance proposals

    1 Feb 2007

    The Association of Mortgage Intermediaries has attacked the Financial Services Authority over its proposals to confirm industry guidance, saying such a move would mean a serious conflict of interest for the trade body. AMI also accused the FSA of trying to shift the responsibility for guidance to trade bodies.

  • AMI to set up packager group

    29 Jan 2007

    The Association of Mortgage Intermediaries is to set up a standing committee to represent packagers in a bid to unify the industry.

  • Annual interest costs borrowers

    1 Feb 2007

    One sixth of mortgage lenders calculate interest on an annual basis leaving consumers thousands of pounds out of pocket, warns Moneyfacts.co.uk.

  • Anti-HIP petition tops 5,000 signatures

    2 Feb 2007

    The National Association of Estate Agents e-petition against Home Information Packs has now topped 5,000 signatures.

  • Anti-loan shark scheme to go nationwide

    29 Jan 2007

    Chancellor Gordon Brown has unveiled additional funding to enable the national rollout of a scheme to tackle loan sharks, with a project in every region. Such schemes have been piloted in Birmingham and Glasgow. They work by improving financial advice for people and exposing and prosecuting those illegally charging exorbitant rates of interest. The government says these projects are an important part of its strategy to boost the availability of affordable and appropriate sources of ...

  • Association of Mortgage Intermediaries: Nice words... now for action

    1 Feb 2007

    A strong sense of confidence was evident at the Mortgage Packager Summit this year. But even more heartening was the realisation that packagers and lenders are moving towards powerful relationships and a better attitude to regulation

  • AToM Commercial completes first case

    1 Feb 2007

    All Types of Mortgages Commercial has completed its first case in 12 working days provided by commercial packager E1 Commercial Finance.

  • B2L could rival FTB sector

    29 Jan 2007

    HBOS predicts that the buy-to-let market will be as big as the first-time buyer sector by 2011.

  • B2l measures up

    29 Jan 2007

    As demand has grown a wider range of landlords have got involved in buy-to-let and lenders have been quick offer tailored solutions, says Paul Rockett

  • Bad lending decisions can damage brokers

    29 Jan 2007

    Lenders are making increasing amounts of data about client default levels available to brokers.

  • Basinghall names John Charcol and Savills as first distribution partners

    1 Feb 2007

    Basinghall Finance, the mortgage lending business backed by WestLB Corporates & Capital Markets, has announced its first distribution partnerships with mortgage brokers John Charcol and Savills Private Finance.

  • Basinghall poised to lend

    29 Jan 2007

    Basinghall Finance is ru-moured to be starting lending on February 5 through a select number of brokers.

  • BDM of the week

    29 Jan 2007

    You can't help being swept off your feet by Shirley Isherwood's zest for life and that's one of the things that makes her an outstanding BDM, says Open Door Solutions' Steve Holt

  • BDS adds New Life to panel

    29 Jan 2007

    BDS Mortgage Group has added New Life to its packaged lender panel. The equity release lender is a member of Safe Home Income Plans and has been writing mortgages since 2004.Products on offer include main residence and second home lifetime mortgages as well as investment and holiday home loans.

  • BDS adds TMB to its satellite packager panel

    29 Jan 2007

    BDS has added The Mortgage Business to its satellite packager panel.

  • BM and NR in price war over 125% LTV deals

    31 Jan 2007

    BM Solutions has entered into a price war with Northern Rock on its 125% LTV Mortgage Plus range, slashing rates by as much as 50 basis points.

  • BoI predicts 5% price rise in 2007

    29 Jan 2007

    Bank of Ireland's housing market forecast predicts that average house price inflation will be 5% in 2007. It also expects mortgage applications to fall back to about £27bn per month gross and £8bn per month net.

  • Borrowers must be responsible too

    29 Jan 2007

    The Financial Services Authority is getting into its stride. Following a tentative start to its regulation of the mortgage market in 2004, it is beginning to flex its muscles.

  • Borrowers should not get themselves in a fix

    29 Jan 2007

    As lenders fall over themselves to pull, reissue and reprice their fixed rate offerings in the wake of the recent interest rate rise it's hardly surprising that two themes are emerging.

  • Bridging finance can help investors

    29 Jan 2007

    Over the past few weeks I have touched on several areas of discussion in the industry and this week I intend to focus on what will be a new area for many - bridging finance.

  • Bridging finance hailed as the new sub-prime

    29 Jan 2007

    Bridging finance is being hailed as the new sub-prime by Cheval Finance.

  • Bright Finance unveils growth plans

    29 Jan 2007

    Bright Finance, a consumer credit organisation, has unveiled growth plans that include more than 20 new jobs. The expansion comes after a successful 12 months for Bright, who processed more than 1bn in loan applications last year from its 200-strong workforce based at Chapeltown in Yorkshire. Bright Finance acts as a broker between customers seeking credit and their wide panel of lenders.

  • BrightSale makes first house sale

    30 Jan 2007

    BrightSale has made its first house sale three weeks after launching its full online estate agency service in the UK.

  • Britishinsurance.com launches payment protection products

    1 Feb 2007

    Britishinsurance.com has launched a range of payment protection products specifically designed for the broker market.

  • Brits are too optimistic about owning homes

    29 Jan 2007

    Britons are unrealistic when it comes to their chances of owning property, a survey reveals.

  • Brokers flock to use SMS system

    29 Jan 2007

    Solent Mortgage Services says a whopping 4,000 brokers have tapped into its online system The Porthole.

  • Brokers must ensure they are prepared for the PPI review

    29 Jan 2007

    From Richard Angliss

  • Brokers must tread with care

    1 Feb 2007

    Big mainstream players from both the UK and abroad have been piling into the flourishing sub-prime market. But Thomas Reeh warns that as the sector becomes more accepted as a specialist area intermediaries should not be lulled into complacency

  • Brokers prepare for CCA secured lending changes, warns AFB

    1 Feb 2007

    The Association of Finance Brokers is warning its members to be prepared for the changes to secured lending that is being introduced by the Consumer Credit Act 2006.

  • Brokers think base rate won't rise in February

    29 Jan 2007

    The nos just ABOUT have it this week with 54% of Mortgage Strategy Online readers voting that they are doubtful that the Bank of England will increase interest rates again next month.

  • Build up your MPPI defences now

    29 Jan 2007

    Firms must sharpen up their sales processes when it comes to MPPI policies or they will face the regulatory music when complaints start rolling in, says Simon Burgess

  • Business up 45% at Heritable Bank

    29 Jan 2007

    Heritable Bank has reported a 45% rise in mortgage business in its 2006 results. It has also declared a 40% increase in assets to £877m.

  • Buy-to-let repossessions warning

    1 Feb 2007

    One in five (21%) lenders believe buy-to-let borrowers are most at risk of repossession, according to research from law firm Moore & Blatch, in its latest survey of UK mortgage lenders.

  • C&G launches intermediary product range

    1 Feb 2007

    Cheltenham & Gloucester has launched a range of intermediary exclusive fixed rate, buy-to-let and Assist products.

  • Care required as sub-prime booms

    29 Jan 2007

    The sub-prime market is booming and this trend looks set to continue. This is partly because the provision of specialist lending is well suited to the changing nature of social and economic conditions.

  • Checklist to speed up packaging

    29 Jan 2007

    Commercial First has introduced a submission checklist to improve speed and accuracy in the submission of packaged mortgage applications. It includes a summary of the application plus a list of documents to be submitted, and is cross-referenced to the product to which the application refers.

  • Chelsea reports 34% increase in mortgage lending

    2 Feb 2007

    Chelseas annual results show that gross mortgage lending has hit 3bn a 34% increase on the previous year.

  • Cheshire launches unsecured personal loans

    2 Feb 2007

    The Cheshire has launched an unsecured personal loans service with The Co-operative Bank.

  • CML chairman gets second term

    29 Jan 2007

    The Council of Mortgage Lenders has confirmed that chairman Jon Pain and deputy chairman John Maltby will serve second terms in their respective positions.

  • CML reports drop in value of lifetime mortgages

    1 Feb 2007

    A survey by the Council of Mortgage Lenders has found that although the number of new lifetime mortgages increased, the value of new lending fell in 2006.

  • Commercial First appoints HR director

    31 Jan 2007

    Commercial First has appointed Claire Withey as associate director of human resources.

  • Compliance: a critical choice

    1 Feb 2007

    Nowadays, most brokers use the services of a compliance support firm, but they do not all make a good choice in selecting a provider. So exactly what does a broker need to look for when employing these third-party services??

  • Consensus takes stake in Convex Conveyancing

    1 Feb 2007

    Consensus Business Group has acquired a significant stake in Convex Conveyancing.

  • Countryside campaigners slam East of England Plan

    1 Feb 2007

    A damning new report on the East of England Plan casts serious doubts on the environmental impact of expansion in the region, says the Campaign to Protect Rural England.

  • Couple face ruin over church

    29 Jan 2007

    An elderly couple are facing financial ruin in a landmark case which could have dire consequences for property owners across the country.

  • Coventry eases B2L criteria

    29 Jan 2007

    Coventry has reduced the rental income requirement on its buy-to-let deals to 120% for LTVs over 65%. It has also doubled it maximum loan per property to £1m and increased the maximum number of properties to 10.

  • Crash prediction misses the point

    29 Jan 2007

    A prediction that a terminal crash in the housing market will undermine confidence in property investment forever is likely to be wide of the mark, says Sally Laker

  • CurriculumVitae

    29 Jan 2007

    "Having just moved house DIY and decorating are all-consuming."

  • Cutting down on daily grind

    1 Feb 2007

    MoneyPartners has become the first mortgage lender to join Origo's UNIPASS system. This move could be the trigger for others in the industry to get on board and could encourage IFAs to use the system for more than just pensions and life insurance

  • D&D appoints product manager

    29 Jan 2007

    D&D Homecare has appointed John Prentice to its senior management team. Prentice joins from Hitachi Capital as product development and operations manager.

  • DA firms might be small but they can be perfectly formed

    29 Jan 2007

    From Warwick Tidy

  • Date change for MT awards ceremony

    29 Jan 2007

    The Mortgage Times Group has amended the date of its second annual awards ceremony from March 7 to March 6.Sponsored by Platform, the event is an opportunity for Mortgage Times to reward its top lender and broker partners across the UK.Titles to be scooped at the awards include appointed representative of the year, directly authorised broker of the year, best buy-to-let lender and best sub-prime lender.

  • Dear Delia

    29 Jan 2007

    Dear Delia Nicola recently got divorced. She received a lump sum in the settlement enabling her to satisfy 2,930 of County Court judgements six months ago. She has a 10% deposit and will be buying a property in her sole name. Her previous business as an IT recruitment consultant was dissolved at the time of her break-up but she has now set up another agency in her own name and has been trading for nine months. What options are available?

  • Distributing ideas

    1 Feb 2007

    The first Packager Summit was a chance for many leading industry The first Packager Summit was a chance for many leading industry figures to come together to discuss the various issues affecting their businesses and the prospects for the future. The overwhelming verdict was that distributors still play a critical role in the mortgage industry, but must continue to evolve, as Matthew West finds out.

  • Distribution market worth 30bn says TMB

    1 Feb 2007

    Specialist lender The Mortgage Business says the packager market has grown by a remarkable 30% to as much as 30bn since before regulation.

  • Dunfermline appoints senior executives

    1 Feb 2007

    Dunfermline has appointed two senior executives in a bid to drive up business from existing and new markets.

  • E2M joins Home of Choice panel

    29 Jan 2007

    Easier2move has joined the Home of Choice panel.

  • Em- appoints BDM for Ireland and Scotland

    29 Jan 2007

    Em- has appointed a business development manager for Ireland and Scotland.

  • em- launches buy-to-let with Rooftop

    1 Feb 2007

    Mortgage packager em- has announced the launch of a buy-to-let range from Rooftop available from February 5.

  • End dual pricing warn packagers

    1 Feb 2007

    Packagers have called on lenders to drop the practice of dual pricing on mortgage products, following discussions at the Packager Summit.

  • Equity Advice in Cotswold link

    29 Jan 2007

    Equity Advice has formed a partnership with Cotswold Mortgage Services. The telephone-based advice centre will promote its services to more than 100 members of Cotswold. Its services are accessed via a web-based referral process. It is not necessary for network members to hold Financial Services Authority permission for equity release as Equity Advice advises clients directly.

  • Equity release gets role on Corrie

    29 Jan 2007

    Equity release made a small screen appearance last week in Coronation Street.

  • Equity release growth "promising", says Pru

    30 Jan 2007

    Prudential says the 19% increase in equity release business is a promising start to 2007.

  • Estate agents are clutching at straws

    29 Jan 2007

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

  • Everyone seems to want a new mortgage these days

    1 Feb 2007

    Demand for mortgage advice is increasing as consumers are tightening their belts because of rising house prices and interest rates, and home buyers need to find the best home loan deal

  • Exclusive Connections: The importance of being online

    1 Feb 2007

    The electronic age is fast catching up with the mortgage business, and the online world is offering a speedier and cheaper way of providing customers with what they need. Those that do not jump on the virtual bandwagon could find themselves being nudged out of existence

  • First-time buyers paying over the odds

    29 Jan 2007

    First-time buyers are so determined to buy sooner rather than later they are prepared to offer above the asking price straight away on the house they want, reveals the Yorkshire’s Housebuyers report.

  • Fitter partnerships for survival

    1 Feb 2007

    With the sub-prime market now more grown up, David Tweedy, looks at the challenges ahead and concludes that in order to continue to survive and thrive lenders and distributors need to invest in becoming true partners

  • Fixes may be a financial dead end for customers

    29 Jan 2007

    In recent months we have witnessed a mar-ked move towards fixed rate mortgages. This is fast turning into a full-blooded charge.

  • Freehold: It pays to help your brokers keep their own clients happy

    1 Feb 2007

    One way for distributors to make life easy for their brokers and prevent them from straying is by helping them manage their clients. This can be quite simple for for the bigger distributors with systems able to run full client tracking, but would mean a great deal to the introducer

  • FSA appoints non-executive directors to FSCS

    29 Jan 2007

    The Financial Services Authority has appointed two non-executive directors to the board of the Financial Services Compensation Scheme.

  • FSA fines GE Capital Bank for not treating customers fairly

    30 Jan 2007

    The Financial Services Authority has fined GE Capital Bank £610,000 for failing to sell payment protection insurance properly and for failing to treat its customers fairly.

  • FSA is failing to change attitudes towards PPI

    29 Jan 2007

    You would think that given the stink surrounding payment protection insurance at the moment, brokers would be thinking of giving it a wide berth.

  • FSA must point out the poorest performers

    29 Jan 2007

    Once again the Financial Services Authority has found problems with a section of the industry, and once again these firms are not being named and shamed.

  • FSA sets up crime fighting division

    29 Jan 2007

    The Financial Services Authority's is upping its game in its fight against financial crime with the launch of a specialist division.

  • FSA urges firms to stress test

    31 Jan 2007

    The Financial Services Authority has called on firms to improve the stress testing of their businesses after its financial risk report highlighted the greater impact a shock could have were it to happen in the next 18 months.

  • FSCS expects 39,000 claims in 2007/08

    2 Feb 2007

    The Financial Services Compensation Scheme, the UK’s financial compensation fund of last resort, expects to receive 39,000 new claims in 2007/08.

  • FTBs are taking more risks

    29 Jan 2007

    A growing number of first-time buyers are willing to take financial risks to get on the property ladder, research reveals.

  • GEMHL holds fixed rates

    31 Jan 2007

    GE Money Home Lending has held its fixed rates despite the recent increase in the Bank of England base rate.

  • GEMHL sees 37% growth in business volumes

    1 Feb 2007

    GE Money Home Lending has seen a 37% growth in like-for-like business volumes during 2006.

  • GMAC marketing appointments

    29 Jan 2007

    GMAC-RFC has appointed Julie Gaskin, Barry McGuire and Emily Bosley to its marketing team. Gaskin will take on the role of corporate relations manager, McGuire joins as new product development manager and Bosley will be marketing services manager.

  • GMAC scoops securitisation award

    30 Jan 2007

    GMAC-RFC has been named issuer of the year 2006 at the annual International Securitisation Report awards. The award recognises GMAC-RFC establishing new structures, entering new markets and lending new products. GMAC-RFC is the only lender in offering mortgage product across the full spectrum of credit in a number of jurisdictions under the same brand name. Stephen Hynes, capital markets director of GMAC-RFC, says: "We are delighted to receive this award."

  • GMAC-RFC sells 12th portfolio to Britannia

    1 Feb 2007

    GMAC-RFC has sold its 12th portfolio to Britannia Treasury Services.

  • Goldman Sachs boosts its stake in Kensington

    29 Jan 2007

    Goldman Sachs upped its stake in Kensington Group to 17% on behalf of one or more of its clients last week.

  • Griffiths to leave AMI

    31 Jan 2007

    Rob Griffiths has revealed he is leaving his position as associate director at the Association of Mortgage Intermediaries.

  • Halifax appoints intermediary account manager

    29 Jan 2007

    Halifax has appointed Paul Silcock as national intermediary account manager for Halifax Intermediaries.

  • Hamptons backers reveal record profits

    30 Jan 2007

    Hamptons Mortgages parent company Emaar has revealed record profits for 2006. Emaar has recorded a record annual net profit of US$1.735bn compared to US$1.288bn at the end of 2005, a rise of 35%.

  • Harry Potter boosts property sales

    31 Jan 2007

    The popularity of the Harry Potter films has been driving house sales and boosting the economy in Alnwick, the location of the Hogwarts set.

  • HBOS may launch another brand to rival DIY lenders

    29 Jan 2007

    HBOS could launch a new brand to the mortgage market to compete against the growing number of do-it-yourself lenders that have come to market over the past 24 months.

  • HBOS may launch rival to packagers' DIY lenders

    29 Jan 2007

    HBOS could launch a new brand to the mortgage market to compete against the growing number of do-it-yourself lenders entering the arena in the past 24 months.

  • Hearnden adopts My Mortgage Direct as AR

    30 Jan 2007

    Hearnden Associates has adopted My Mortgage Direct as an appointed representative following its departure from network Sesame.

  • High rates could lead to tipping point

    29 Jan 2007

    If interest rates continue to rise we could reach a tipping point in consumers' behaviour which would lead to a fall in volumes and increased arrears , says Frank Eve

  • HIP change is slap in the face for local authorities

    29 Jan 2007

    The government has delivered a slap in the face to local authorities by allowing properties to be marketed after June 1 without local searches in Home In-formation Packs.

  • HIPs could boost Network Data

    29 Jan 2007

    Investment analysts are predicting that if Network Data's Home Information Pack business Hipstar takes off its share price could rocket by 45% to 79p.

  • Home of Choice: It's time for Jack to hit the road

    1 Feb 2007

    Sole traders cannot be all things to all people - they don't have the luxury of resources of the larger firms. If they want to succeed in the single-trader market, they need to specialise and decide how they carry out their business

  • House prices rise faster in Scotland

    29 Jan 2007

    Bank of Scotland's house price index for Q4 2006 reveals that the annual rate of house price inflation in Scotland is 12.5%. This is above the UK average house price inflation of 9.9%. The index also shows that prices in Scotland rose by 3% in Q4 2006, which is below the UK quarterly rise of 4.2%. Over the past five years house prices in Scotland have almost doubled, rising by 97%. The average price of a house in Scotland is now £126,639, 32% less than the UK average.

  • Houses better for buy-to-let, says property expert

    2 Feb 2007

    People should invest in houses, not flats, to cash in on the highest capital returns and rental yields, says property expert and author David Lawrenson, of lettingfocus.com.

  • Housewife protects divorce settlement

    30 Jan 2007

    A Worcestershire housewife has successfully protected her right to her matrimonial home despite her former husband declaring himself bankrupt.

  • Hush Hush

    1 Feb 2007

    Clooney baloneyThere really are some things you wish you didn't know about people and yet can't help but find out simply by being in the wrong place at the wrong time. Hush Hush learned this lesson the hard way at the recent Packager Summit when at the start of the first session it was revealed panellist Peter 'Bongo' Beaumont, deputy chief executive of Mortgages PLC, keeps a photo of George Clooney on his desk at work because he thinks he looks like him.

  • I am not the person who is damaging the reputation of PPI and harming consumers

    29 Jan 2007

    From Simon Burgess

  • IF offers 24 hour mortgage offers

    30 Jan 2007

    Intelligent Finance has pledged to issue a formal mortgage offer within 24 hours of receiving a completed mortgage pack as part of its new service standards.

  • IFS launches equity release qualification

    29 Jan 2007

    The IFS School of Finance is launching a qualification called the Certificate in Equity Release.

  • ifs predicts growth in insolvencies

    2 Feb 2007

    ifs School of Finance has predicted that there will be an increase in insolvencies.

  • Insolvencies rise by 60%

    2 Feb 2007

    Grant Thornton has revealed that insolvencies are up by almost 60% from the previous year.

  • Inspector Morse effect boosts prices in Oxford

    29 Jan 2007

    House prices in Oxford have outstripped the regional and national average since the television series Inspector Morse first aired 20 years ago, research reveals.

  • Investors opt for commercial property

    29 Jan 2007

    A report by Jones Lang LaSalle has found that private investors are increasingly choosing to invest their funds in commercial property.

  • Irony behind rising popularity of loans

    29 Jan 2007

    It is ironic that one of the main drivers behind the rising popularity of secured loans is the same thing that their detractors once believed would lead to their demise, or at least clip their wings.

  • Is the direct-to-broker channel the future of mortgage distribution?

    29 Jan 2007

    Going direct to brokers may become more important but all forms of distribution will continue to play their part in the future, say our experts

  • Is the government's free advice proposition a good idea?

    29 Jan 2007

    The government is proposing to introduce a free financial advice service in a bid to ensure everyone has access to quick and simple generic financial advice. The government has set up a task foce to explre options for the service which it hopes to have up and running by 2013.So this week Mortgage Strategy asks: Is the government's free advice proposition a good idea?

  • IVA arrangers have a duty of care to clients

    29 Jan 2007

    Last week I heard a comment about the rise of individual voluntary arrangements.

  • Jannels bags top PMPA post

    1 Feb 2007

    The Professional Mortgage Packagers Alliance has announced the appointment of Vic Jannels as its new chairman.

  • John Malone

    1 Feb 2007

    Premiere Mortgage Service: How to influence an adviser

  • Just Retirement business grows

    29 Jan 2007

    Just Retirement's business figures for the six months to December 31 2006 show growth in equity release advances of 55% quarter-on-quarter.Mortgage advances have seen a substantial increase and the company says new business quotations and applications are likely to see a continuing strong performance.Just Retirement signed a three-year distribution agreement in November with SAGA. The company is providing a retirement advice service to customers who are introduced to it by SAGA.

  • Kensington sells loss making TML as profits jump 17%

    30 Jan 2007

    Kensington posted profits of 17% today and announced it was selling its loss making direct-to-consumer arm The Mortgage Lender for an undisclosed sum.

  • King explains his MPC vote

    29 Jan 2007

    Bank of England governor Mervyn King has confirmed his goal of getting inflation back in line after it was revealed he cast the deciding vote to raise interest rates.

  • Landlords favour flexible lenders

    29 Jan 2007

    Landlords are increasingly choosing lenders that are more accommodating of potential expansion of investment portfolios, says Mortgage Trust. Its research found that almost a half of small scale and professional landlords would choose a lender based on easy access to further funds, and over 35% would make a decision based on there being no limit to the number of properties allowed. John Heron, managing director of Mortgage Trust, says: Our research suggests that lenders ...

  • Landlords prefer to buy closer to home

    30 Jan 2007

    New research for Landlord Mortgages has revealed that just over 77% of buy-to-let investors still choose to invest in their local area.

  • Leads firm overwhelmed

    29 Jan 2007

    Paaleads.com says it does not have enough brokers to cater for the influx of mortgage leads that has followed January's shock interest rate rise.

  • Learn from example, the FSA way

    29 Jan 2007

    Firms would be foolish not to take note of the examples of good and poor practice given in the FSA's review of the quality of mortgage advice, says Bill Warren

  • Leeds launches 100% and shared ownership fixed rates

    31 Jan 2007

    Leeds has launched a 100% fixed rate and shared ownership fixed rate mortgage, specifically designed to help first-time buyers onto the property ladder.

  • Leeds launches shared ownership fixed rate

    30 Jan 2007

    Leeds has launched a 100% fixed rate product and a shared ownership fixed rate mortgage, designed to help first-time buyers onto the housing ladder.

  • Leeds unveils new products

    31 Jan 2007

    Leeds has launched a two-year fixed rate and a two-year offset fixed product.

  • Legal & General Mortgage Club: Exclusive formula still winner

    1 Feb 2007

    The days of profitable exclusive near-prime mortgage products might be over but today, even with tighter margins, more specialist lenders and online trading, brokers and lenders that work together to design truly exclusive products can still find they provide a market edge

  • Legal definition

    1 Feb 2007

    Don't remain in the dark Confused by the plethora of legal jargon in the mortgage industry or want to know what a legal term or practice means? Each month our panel of experts answer questions sent in by readers.

  • Lenders' dual pricing system will lead to loss of volume

    29 Jan 2007

    Lenders have been accused of mistreating packagers by operating a dual pricing system for direct-to-broker and packaged products.

  • Lenders face big payouts on exit fees

    29 Jan 2007

    Lenders could find themselves doling out thousands of pounds in compensation to past customers following the introduction of measures regarding exit fees by the Financial Services Authority.

  • Lenders predict rise in repossessions in 2007

    30 Jan 2007

    Research by Moore & Blatch shows that 75% of mortgage lenders think repossessions will rise by at least 5% in 2007.

  • Lenders slammed for dual pricing

    29 Jan 2007

    Lenders have been accused of mistreating packagers in the dual pricing of direct-to-broker and packaged products.

  • Lib Dems back scam campaign

    2 Feb 2007

    The Liberal Democrats have backed the Office of Fair Tradings investigation into scamming in the UK, urging the correct authorities to enforce any scams fully.

  • Lib Dems pin debt on lenders

    29 Jan 2007

    The Liberal Democrat party has pinned Britains debt problems on irresponsible lending.

  • Lloyds TSB streamlines overseas applications

    1 Feb 2007

    Lloyds TSB has streamlined its application process and improved pricing for those seeking mortgages to buy property in Dubai and Portugal.

  • Loanoptions.co.uk appoints head of underwriting

    29 Jan 2007

    Loanoptions.co.uk has appointed Gaynor Smith as head of underwriting for all lending activities.

  • Make your web presence pay

    1 Feb 2007

    An attractive and user friendly website is of little value if online searchers cannot find you. But there are tactics that can help you gain search engine coverage to draw in valuable new clients who might be looking for your type of service but not your company

  • Market Harborough launches Cupid mortgage

    30 Jan 2007

    Market Harborough has launched a Cupid tracker variable mortgage to coincide with Valentine's day. The tracker is fee-free mortgage which charges 0.25% above Bank of England base rate for a full five years. The society is also giving a special Valentine treat of a red and wite wine hamper for every Cupid’s tracker completion.

  • Marketing appointment

    29 Jan 2007

    Primrose has appointed Helen James as marketing manager. James previously worked in marketing at GMAC-RFC for six years.

  • Marketwatch

    29 Jan 2007

    Swaps continued to rise last week, but fortunately at a slightly slower pace than of late. Any two-year fixed rate without a percentage fee that starts with a 4 looks incredible value but that is a rapidly disappearing breed.

  • Me & My Car

    29 Jan 2007

    It looks like a tank but my Volvo XC90 is comfortable and practical and there's so much personal space inside that driving it is almost a pleasure, says Dale Jannels

  • Merrill enters Irish market

    31 Jan 2007

    Merrill Lynch and Irish Life & Permanent have formed a joint venture to sell specialist residential mortgage loans in the Republic of Ireland.

  • Millions at risk of ID theft

    29 Jan 2007

    A survey has revealed that 21 million people do not protect themselves against identity theft while 97% of household waste contains at least one item that could assist a fraudster.

  • Minding the inflation gap is a tough job

    29 Jan 2007

    There's an old saying that perception is reality to some people. It is clear that the three rate rises since August have made many mortgage customers sit up and take notice, and the January rise was an unpleasant surprise.

  • Money Debt & Credit Group launches mortgage business

    2 Feb 2007

    Money Debt & Credit Group, a provider of individual voluntary arrangements, has launched Money Debt & Credit Financial Services. The new company is a 100% subsidiary of Money Debt & Credit Group and will act as a broker for remortgages and secured loans from a panel of leading sub-prime lenders.

  • Money for nothing, your HIPs for free

    29 Jan 2007

    Cost has always been a key issue with Home Information Packs. I have no doubt that if HIPs were free the attitude towards them would be dramatically different to the hostile reception they have received to date.

  • More efficient conveyancing

    29 Jan 2007

    Convex says its new conveyancing system offers a 40% improvement over regular conveyancing methods, meaning the home buying process can be speeded up by over a month. The technology firm says it exchanges documents in 34 days, completing nine days later.

  • Mortgage Angels launches marketing database

    29 Jan 2007

    Mortgage Angels has launched Angels Media to provide database marketing services and support to mortgage intermediaries and lenders. Angels Media will provide intermediaries and lenders with access to its comprehensive consumer and intermediary database for cross marketing and new business development.

  • Mortgage Angels revamps system

    29 Jan 2007

    Mortgage Angels has reveamped its lead distribution system by launching preview leads. This allows advisers to cherry-pick leads in the immediate vicinity as they are created in real time.

  • Mortgage Intelligence: Buy-to-let shelf life is healthy

    1 Feb 2007

    Contrary to popular belief, the kiss of death has not been given to the buy-to-let market. However, research shows that the only ones likely to benefit from this state of affairs are professional landlords. Amateurs should beware

  • Mortgage lending at Portman hits 5bn

    31 Jan 2007

    Portman has revealed that gross mortgage lending increased 18% on 2005, reaching 5bn.

  • Mortgage Promotions: Muddying regulation waters

    1 Feb 2007

    The debate on whether packagers should be regulated is about to be reignited with the FSA's discussion paper on 'The responsibilities of providers and distributors for the fair treatment of customers'. But there's a danger that the water could become muddied

  • Mortgage Trust appoints BDM

    29 Jan 2007

    Mortgage Trust has appointed Mick Kirkman as a business development manager in the North.

  • MPLC bucks trend as it signs up to sponsor 2007 Expos

    29 Jan 2007

    Mortgages PLC has signed up to sponsor all three Mortgage Business Expos in 2007, going against the trend of major lenders shunning the events.

  • MPPI has moved on since Burgess launched assault

    29 Jan 2007

    From Paul Violet

  • MPs urge lenders not to pull fixes

    29 Jan 2007

    In a Parliamentary early day motion last week, nine MPs made a plea to mortgage lenders not to pull their fixed rate products.

  • MPT appoints BDM for the North

    29 Jan 2007

    Money Partners Touch, the direct-to-broker channel of Money Partners, has appointed Sheryl Andrew as business development manager for the north of England.She will be responsible for developing the MPT offering and building relationships.

  • MT awards night set for March 7

    29 Jan 2007

    The Mortgage Times Group will host its second annual awards ceremony on March 7 this year at Claridges in London.

  • Mutual sector is likely to hold its own in 2007

    29 Jan 2007

    The figures for 2006 have now been released from various industry bodies and all give a healthy picture of lending volumes last year.

  • Nationwide signs LMS for three-year contract

    31 Jan 2007

    Nationwide has appointed LMS to manage all the conveyancing of both its remortgaging and transactional mortgaging business for the next three years. The award of these contracts follows a five-month tender process in which Nationwide examined in depth the services and capabilities of the UKs main providers. LMS has been working with Nationwide for seven years and the new remortgage contract now extends the companys remortgaging management to include Scotland as well as ...

  • Nationwide to increase fixed rates

    30 Jan 2007

    Nationwide has increased the rates on its range of fixed rate mortgages.

  • Network Data to reward top 20 ARs

    2 Feb 2007

    Network Data will be announcing the winners of its top 20 producer’s scheme at its annual conference on March 8 at the Celtic Manor Resort in Newport. The top producer’s scheme recognises Network Data’s appointedrepresentatives that have placed the highest levels of mortgage andprotection business between January and December 2006. Winners and their partners will be rewarded with a VIP trip to Reykjavik, Iceland in April 2007.

  • New affordable homes unveiled by government

    2 Feb 2007

    The first homes in a government affordable housing scheme have been unveiled by housing minister Yvette Cooper.

  • Newtork Data Holdings: Mystery of disappearing ARs

    1 Feb 2007

    After boasting in full-page advertisments in October 2005 that it had processed 500 appointed representatives, Home of Choice's quarterly list of mortgage networks named just 297 appointed firms as at end of December 2006. So what's happening here??

  • NR may pay retention proc fees

    29 Jan 2007

    Northern Rock may bow to peer pressure by paying brokers proc fees for home movers, as part of a customer retention drive.

  • OFT launches scam awareness month

    1 Feb 2007

    The Office of Fair Trading has warned consumers to think twice about any offers which seem too good to be true, with the launch of its 2007 scam awareness month.

  • On the case

    1 Feb 2007

    Client A wants to get out of their financial difficulties after being made bankrupt in the last couple of months. Client A had been in their house for the past 15 years and had a lot of equity in it. However, they had run up a large amount of unsecured debt which, owing to historic circumstances, had resulted in their bankruptcy.

  • One in five pensioners still have a mortgage

    1 Feb 2007

    Nearly one in five homeowners aged 65 plus have not cleared their mortgage by the state pension age, according to mform.co.uk.

  • Optimism in brokers' camp

    1 Feb 2007

    Mortgage intermediaries and distributors have shown resilience in the face of Financial Services Authority regulation and remain optimistic in their expectations of the future, new research suggests.

  • Paaleads launches telephone leads service

    31 Jan 2007

    Paaleads.com has launched a qualified by telephone service for mortgage leads, which enables leads to be passed onto intermediaries in an instance.

  • Packagers get faster at submitting applications

    29 Jan 2007

    Packagers submitted applications one day faster in Q4 2006 than in Q3 2006 on average, research by The Mortgage Business reveals.

  • Packagers prove they are not frilled sharks

    1 Feb 2007

    Evolution can be a funny thing. A few weeks ago, a frilled shark (Chlamydoselachus anguineus) found its way into the coastal waters of Suruga Bay, on Japan's main island of Honshu. The shark looks a little like the sort of sea monsters sailors used to tell tales of in centuries past.

  • Packagers say sourcing systems are not useful

    29 Jan 2007

    Trigold and Mortgage Brain were given a unanimous vote of no confidence by packagers at Mortgage Strategy'sMortgage Packager Summit in Nice, France last week.

  • Packaging takes centre stage in Nice

    29 Jan 2007

    The industry fell quiet last week as 85 of the leading innovators in the packaging sector, not to mention the top packager-friendly lenders, gathered in Nice for Mortgage Strategy's inaugural Mortgage Packager Summit.

  • Personal Loans teams up with Mortgage Promotions

    2 Feb 2007

    Personal Loans has teamed up with Mortgage Promotions to offer its members additional services.

  • Platform unveils new look sales team

    29 Jan 2007

    Platform, the intermediary lender of Britannia, has unveiled a new look sales team in advance of product enhancements planned early in Q1 2007. In a move that sees the appointment of 11 new business development managers to the team, Platform has enhanced its coverage across all geographical regions throughout the UK.

  • PMPA blasts lenders' commitment

    29 Jan 2007

    The Professional Mortgage Packagers Alliance has attacked lenders that have failed to deliver in terms of technology and working with packagers.

  • PMPA hits out at lenders with poor IT links

    29 Jan 2007

    The Professional Mortgage Packagers Alliance has attacked lenders that have failed to deliver in terms of technology and working with packagers.

  • PPI website launched

    29 Jan 2007

    Britishinsurance. com has launched a payment protection insurance website that provides quotations and applications online, and promises to enable brokers to provide younger clients with PPI at better prices than elsewhere. It also allows brokers to earn 30% commission.

  • Praxis opens office in NI

    29 Jan 2007

    Praxis has opened a dedicated office in Northern Ireland days after announcing a new lender partner and the relaunch of its commercial arm.The office, in County Antrim, opened on January 15. Fintan Monaghan heads the Praxis NI team as well as national mortgage service Switch 2. He says he is looking forward to the challenge of expanding both businesses.

  • Prestige Finance joins AFB

    30 Jan 2007

    Prestige Finance has joined the the Association of Finance Brokers as an associate member. Simon Stern, director of Prestige, says: “We are delighted to have joined the AFB as an associate member and look forward to working closely with the AFB in the future.

  • Prudential to sell Egg to Citigroup

    29 Jan 2007

    Prudential has entered into a binding agreement to sell its banking business Egg Banking to Citigroup.

  • PTFS sees £230m completions in one week

    29 Jan 2007

    Personal Touch Financial Services recorded a colossal £230m in mortgage completions last week alone.

  • PTP franchise to boost distribution

    29 Jan 2007

    Personal Touch Packaging is to launch a packager franchise operation called Franchise Partners.

  • RAMP completes 1bn in Q4 2006

    29 Jan 2007

    The Regulatory Association of Mortgage Packagers has revealed that it broke through 1bn in completions for Q4 2006 - 23% higher than in 2005.

  • Rate hikes good for landlords, says Paragon

    1 Feb 2007

    The recent interest rate hikes may discourage first-time buyers but will benefit buy-to-let landlords, says Paragon Mortgages.

  • Regulate IVA companies, says law firm

    2 Feb 2007

    An insolvency law specialist is calling for an independent regulator to clamp down on rogue practitioners in the individual voluntary arrangement industry.

  • Regulatory Alliance of Mortgage Packagers: Let us unite to lobby on future

    1 Feb 2007

    The industry can be proud of the way it has handled regulation. But it is evident we are constantly just reacting to regulatory changes thrown up by the FSA and to have a say in shaping the mortgage market of the future we need to find a single lobbying voice

  • Remortgaging above average in December

    30 Jan 2007

    Remortgaging remained above average in December 2006, says the Bank of England.

  • Repossessions continue to rise, reports CML

    31 Jan 2007

    The number of mortgage repossessions rose from 8,140 in the first half of 2006 to 8,860 in the second half, according to figures by the Council of Mortgage Lenders.

  • SAGA offers Spanish home service

    30 Jan 2007

    SAGA has launched an overseas homes service in an attempt to help people over the age of 50 to buy a home in Spain.

  • Salt adds GHL to packager panel

    29 Jan 2007

    Salt has added GHL Group to its premier packager panel and is pledging to add more packagers in 2007 to increase market share and boost mortgage volumes.

  • Scheme must not undermine advisers

    29 Jan 2007

    Following research by The Resolution Foundation, the government recently announced that free financial advice will be available to everyone within five years. This is an encouraging step as something needs to be done to ensure the nation has the tools to become more financially savvy.

  • Scottish Widows makes key appointment

    29 Jan 2007

    Scottish Widows has appointed Richard Clark as head of product development and marketing.

  • Shareholders say no to Countrywide takeover

    29 Jan 2007

    Countrywide shareholders have rejected 3i Group's 1.02bn takeover bid.

  • SHIP reveals growth across equity release sector

    29 Jan 2007

    Safe Home Income Plans has reported drawdown plans to have the biggest growth in 2006, with the rest of the industry following with healthy growth.

  • Simpler HMO rules would be better

    29 Jan 2007

    Industry experts have claimed that the buy-to-let revolution coupled with a more balanced legal regime has benefited everyone - tenants, landlords, the economy and the government.

  • Skipton fixes relaunched

    29 Jan 2007

    Skipton has relaunched its fixed rate range with rates starting from 5.34%. The society says this means a borrower could make initial monthly payments of just £604 on a £100,000 repayment mortgage.

  • Solent freebie tempts brokers

    1 Feb 2007

    Solent Mortgage Services has extended its free valuation or valuation refunds across its branded lender partnerships and primary panel lenders. It says applications on non-conforming products received online will also have no valuation fees to pay.

  • Sourcing systems get vote of no confidence at Summit

    29 Jan 2007

    Trigold and Mortgage Brain have been unanimously given a vote of no confidence by packagers at Mortgage Strategy's Mortgage Packager Summit in Nice, France.

  • Stay focussed in turbulent times

    29 Jan 2007

    Understanding clients is paramount during a period of interest rate uncertainty and brokers who keep their eyes on the ball should thrive, says Mark Harris

  • Storage firm seeks REIT status

    29 Jan 2007

    Storage firm Big Yellow is trying to change its tax status from that of 'trading to rental' to being a real estate investment trust. It is arguing that its sale of space can be seen as rent, but without a reassessment of the tax treatment of its income it would not qualify for REIT status.

  • Stroud & Swindon buys mortgage portal

    30 Jan 2007

    Stroud & Swindon has bought a mortgage sales portal from software provider TietoEnator.

  • Stroud & Swindon raises SVR

    29 Jan 2007

    Stroud & Swindon has increased its SVR by 0.25% to 7.29% which will affect existing borrowers from February 1.

  • Sub-prime fees rise nearly 50%

    29 Jan 2007

    Money Expert warns that the number of the sub-prime mortgages with a fee of over 1,000 has rocketed by over 46%.

  • Summit issues vote of no confidence

    1 Feb 2007

    Trigold and Mortgage Brain have been unanimously given a vote of no confidence by packagers at the Packager Summit.

  • Support for anti-HIP campaign is growing

    29 Jan 2007

    The campaign to scupper the nationwide introduction of Home Information Packs in June gained momentum last week when it became one of the most popular petitions to appear on Prime Minister Tony Blair's website.

  • Take extra care with equity release clients

    29 Jan 2007

    You only have to look at the financial press to realise that there are a number of product sales that are considered high risk by the industry's regulators.

  • Tenet sells brokerage Foster Denovo

    1 Feb 2007

    The Tenet Group has sold its independent financial advisor firm Foster Denovo.

  • The days of easy B2L money are over

    29 Jan 2007

    The buy-to-let market has been one of the great successes in the housing sector. Although it is only 10 years since the first buy-to-let mortgages appeared, the sector now accounts for some 8% of the market. But is this a bubble that is about to burst?

  • The Manchester acquires Whiteaway Laidlaw

    1 Feb 2007

    The Manchester has acquired Whiteaway Laidlaw for a cash consideration of approximately £5m.

  • The Mortgage Mole

    29 Jan 2007

    Package Holiday

  • The Mortgage Times Group: Keep satellites under control

    1 Feb 2007

    The satellite packaging market is burgeoning, which is a blessing in disguise for distributors under threat of losing their business. But the lenders have a responsibility to enforce standard benchmark propositions to stop business levels spiralling out of control

  • Thinc beefs up packager panel

    1 Feb 2007

    Thinc Group has added All Types of Mortgages and EM Financial to its packager panel.

  • Thinc joins forces with KRS

    1 Feb 2007

    Thinc Group has agreed to refer all its equity release business through Key Retirement Solutions.

  • Things don't feel good in US mortgageland

    29 Jan 2007

    If David Beckham was a mortgage banker he would cancel his $250m contract to play in Los Angeles and stay home among the safe confines of a stable loan and real estate market. Folks, to put it bluntly - the US mortgage market is looking dicey right now.

  • This Week's Dilemma

    29 Jan 2007

    I am a broker and I've done my time in the industry so I don't like to admit this but I'm confused about how to use fast-track. My client wants to borrow 300,000 with an LTV of 75%. The client's income is 100,000 of which 45,000 is basic income with the rest being commissions and bonuses. I want to know if I can put this through as a fast-track case.

  • Title Deed

    29 Jan 2007

    Scottish Widows Bank welcomed its first customers when it opened for business on May 1 1995.

  • TMB extends House 2 House criteria

    29 Jan 2007

    The Mortgage Business has extended the criteria on its House 2 House scheme to allow borrowers to fund a second buy-to-let property.

  • TMP launches online enquiries

    29 Jan 2007

    The Mortgage Partnership has launched an online enquiry form that allows brokers to submit enquiries directly to its new business desk.

  • UCB to offer free valuations

    30 Jan 2007

    Specialist intermediary lender UCB Home Loans will be offering free valuation on its self-cert and buy-to-let product ranges from February 1.

  • Under pressure

    29 Jan 2007

    Rising interest rates are putting the squeeze on borrowers, making this a good time for brokers to review their clients' deals, says Stephanie SpicerRising interest rates are putting the squeeze on borrowers, making this a good timefor brokers to review their clients' deals, says Stephanie Spicer

  • Victoria unveils self-cert and light adverse range

    29 Jan 2007

    Victoria Mortgages has launched a product range and pricing structure for self-cert clients and people with slight adverse credit.

  • Vital link in an evolving world

    1 Feb 2007

    Over the past 12 years as the non-conforming market evolved from a much criticised 'Achilles heel' of the mortgage industry into a specialist sector, the packaging market has developed into an indispensable part of the distribution chain from lender to broker, writes Damian Cain

  • West Brom securitisation

    29 Jan 2007

    West Bromwich has completed its first residential mortgage securitisation with a £320m buy-to-let transaction. The deal was made up of mortgages generated through West Brom for Intermediaries.

  • We've come a long way baby

    1 Feb 2007

    The sub-prime market and packagers were destined to be linked. Apart from being made for each other, both sectors have had to contend with the derision of the industry at large. But they are still together with a sunny future, as Stephanie Spicer writes

  • When saying no is the best advice

    29 Jan 2007

    Sometimes you have to tell a client you can't place their case and although it's not pleasant, it is often the right thing to do for everyone, says Sue Read

  • Words matter as the FSA takes control

    29 Jan 2007

    Over the coming weeks I will be looking at some of the requirements under home reversions regulation that I think will have the most striking impact on the advice process and disclosure requirements.

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