Mortgage Strategy
30 January 2006

  • Competence system requests

    30 Jan 2006

    The online Competence Maintenance Tool launched last week by the Institute of Financial Services and Absolutely Training received over 70 demonstration requests in the first three days.

  • 10% Fewer FTBs in 2005

    30 Jan 2006

    Last year saw the lowest number of first-time buyers for 25 years with a 10% drop from 2004 figures, says Halifax. Its research shows that last year, first-time buyers in found it harder to save for their deposits and were also, on average, older than in previous years. Despite the advent of first-time buyer schemes intended to assist people into affordable housing, first-time buyers were an average of 33 years old and had taken five years to save for their average 23,967 deposits.

  • 2005 Was good year for equity release

    30 Jan 2006

    Analysis from Key Retirement Solutions shows that 2005 was a successful year for equity release, with 26,654 plans worth 1.21bn being sold. 2005 was the second consecutive year in which over 1bn worth of equity release products were sold (in 2004, the figure was 1.4bn) and saw the number of outstanding plans rise by 18% to 120,750.l See Analysis, page 37

  • Accord enhances prime fixed rate criteria

    3 Feb 2006

    Accord Mortgages has enhanced its criteria for prime fixed rate mortgages where the rate is fixed for five years or more.

  • Advantage extends proc fee offer

    2 Feb 2006

    Advantage has extended its online offer giving brokers an additional procuration fee of between 0.05% and 0.25% per completion.

  • Advisernet updated

    30 Jan 2006

    The Exchange has revamped its web building system called Advisernet. Building on the success of previous versions of the system it includes a raft of additional features and functions designed to deliver value to independent practitioners and networks alike.

  • AIFA calls for fairer compensation scheme

    1 Feb 2006

    Chris Cummings, director-general of the Association of Independent Financial Advisers, has called for a fairer compensation scheme in response to the Financial Services Compensation Schemes plan and budget for 2006/07. Cummings says: The compensation scheme is a vital regulatory safety net that maintains consumer confidence in the financial services industry. But in order to maintain the industrys confidence in the scheme, the costs must be divided more fairly. This ...

  • Amber launches prime self-cert range

    2 Feb 2006

    Amber Homeloans has launched a range of prime self-cert products. The range includes a selection of exciting two-year discounted and three-year fixed options, as well as a brand new 5.19% five-year fixed rate product.

  • Amber relaunches discount and fixed product ranges

    2 Feb 2006

    Amber Homeloans has relaunched its product range. The improved selection offer increased discounts up to 95% LTV, and reduced three-year fixed rates up to 90% LTV. Many product ranges offer several LTV tiers, enabling the needs of customers to be matched closely, and an interest rate reflecting their personal circumstances to be achieved.

  • AMI appoints Rob Griffiths as associate director

    30 Jan 2006

    The Association of Mortgage Intermediaries has appointed Rob Griffiths as associate director to the trade body. Griffiths will take responsibility for the day-to-day running of AMI, reporting directly to its director general Chris Cummings. Griffiths joins the AMI team from Mortgage Introducer where he was editor for three and a half years. Previously features editor, he is familiar with prominent industry figures and the regulatory issues intermediaries need to be aware of. Prior ...

  • AMI praises intermediary awareness of FSA reports

    30 Jan 2006

    The Association of Mortgage Intermediaries has praised brokers' awareness of the Financial Services Authority's sub-prime and self-cert reports, despite concerns raised by BM Solutions.BM Solutions' One Specialist survey found that 28% of brokers surveyed were unaware of the FSA's reports on sub-prime and self-cert and claimed this was a cause for concern. But this means that 72% of the brokers asked were aware of the reports, a fact praised by AMI.Of the 72% that were aware ...

  • AMPD on the hunt for general manager

    3 Feb 2006

    The Association of Mortgage Packagers and Distributors has launched a recruitment drive for a general manager.

  • Application fees give clients a choice with their repayments

    30 Jan 2006

    From Tony Capon I read with interest Isabelle Kassam's comments about mortgage application fees being just a money spinner for lenders in the January 16 issue of Mortgage Strategy. This issue has been debated long and hard by industry pundits from both sides of the fence, but often there is a misunderstanding of the motive behind application fees. Far from being a way for mortgage lenders to generate an easy profit there is actually a simple reason behind this practice. ...

  • Assureweb seals deal with Origo

    3 Feb 2006

    Access to Assureweb will be made easier by a deal that will implement Unipass digital certificates from Origo.

  • BAR completes first stage of code of practice

    31 Jan 2006

    The British Association of Removers Consumer Code of Practice has successfully completed the first stage of the Office of Fair Trading's Consumer Codes Approval Scheme.

  • Branding deal

    30 Jan 2006

    Optoma Broker Solutions and First National have entered into a branded lending arrangement. The semi-exclusive product range will offer lower initial rates starting from 4.89% for the first-time buyer product and 4.69% for its Ultralight product.

  • Brokers can do more to sell plans

    30 Jan 2006

    The Key Retirement Solutions Market Report for Q4 and the whole of 2005 was published this week. Q4 of the year showed an increase in business against the previous quarter and a rise in the number of plans sold compared with the same quarter in 2004.

  • Brokers say lenders should be upfront about fees

    30 Jan 2006

    A whopping 74% of Mortgage Strategy Online readers think lenders are failing consumers by not being transparent with their fees. Just 26% think lenders are being upfront.This week Mortgage Strategy asks: "Do you think Home Information Packs will devastate your business?" Q: Are lenders failing consumers by not being transparent about their fees?

  • Brownfield developments hit record high

    31 Jan 2006

    Homebuilding on previously developed land has hit a record high of 72%, figures reveal.

  • Buying off-plan still a good investment

    2 Feb 2006

    Buying property off-plan still offers good investment opportunities despite the slowing market, according to research carried out by The Homebuyer Show. The survey of experienced investors reveals that over 90% have previously bought property off-plan or are seriously considering it for the immediate future. It also reveals that over 70% firmly believe that buying off-plan can represent a good investment opportunity in the current market as long as thorough research is undertaken.

  • Buy-to-let to dominate market in 2006

    31 Jan 2006

    Residential investment sales are set to dominate in 2006 with the number of significant portfolios on the market totalling 490m so far this year.

  • C&G hits back at claim it is ripping off MPPI clients

    30 Jan 2006

    Cheltenham & Gloucester has hit back at claims by Britishinsurance.com that it is ripping off customers with its mortgage payment protection insurance.Research by Britishinsurance.com names C&G as being the lender with the highest charge for MPPI.Simon Burgess, managing director of Britishinsurance.com, says: "Our research shows that consumers insuring an average monthly mortgage payment of 604 could save some 3,316 over the lifetime of a 25-year mortgage. The most expensive ...

  • c2-financial reports record business levels

    2 Feb 2006

    National mortgage packager and branded lender c2-financial hs reported record business levels, with a trebling in its pipeline cases compared with the same period last year.

  • CACI product to improve direct marketing response rates

    2 Feb 2006

    A product launched by CACI will significantly improve the response rates for cold marketing activity. RSVP has been developed in response to a study conducted by CACI, YouGov and The Customer Partnership into the combined effect of all direct marketing received by individuals from multiple sources.

  • Callcredit extends alliance with Fair Isaac

    31 Jan 2006

    Credit reference agency Callcredit has agreed to extend its strategic alliance with analytics company Fair Isaac for an additional three years.

  • Case management solution unveiled

    30 Jan 2006

    Home Buyer Systems and MortgageStream have launched an integrated mortgage and general insurance sales and case management solution.The compliant advice and sales process is provided by Home Buyer Systems and the post-application case management system is provided by MortgageStream.The integrated solution offers facilities including a mortgage processing system, single data entry, scanning and filing of documents, letter generation and mailshots, call recording, fee and commission ...

  • Chelsea appoints BDM for East Anglia and Essex

    2 Feb 2006

    Ed Grobler joins Chelsea as business development manager for East Anglia and Essex. Having previously worked for Royal Bank of Scotland Group and Bristol & West, Grobler is one of the first appointments to the intermediary sales team for the South and brings with him a wealth of experience of the intermediary market.

  • City bonuses to boost property investments, says the Homebuyer Show

    31 Jan 2006

    The property investment market is set to be boosted as record city bonuses are paid out. The square miles top employees have been rewarded with substantial payouts with the average bonus expected to be around 23,000 whilst an estimated 3000 bankers will receive bonuses of over 1 million. Experts at The Homebuyer Show believe that much of this capital could find its way into the housing market as investors seek to maximise their funds through property investments.

  • Clarification

    30 Jan 2006

    Last week Mortgage Strategy printed that "the regulator" had wanted to see a minimum 55% take-up of MPPI across housing and mortgage transactions. In fact it was the Council of Mortgage Lenders that called for this minimum take-up.

  • CML to publish report on HIPs

    30 Jan 2006

    The Council of Mortgage Lenders is understood to be publishing a report on Home Information Packs this week.It is believed that the main thrust of the report will be to reinforce its warning to the government regarding the pressing need for a detailed timetable for the implementation of HIPs.This comes after the Association of Mortgage Intermediaries last week expressed concerns over the introduction of Home Information Packs.Fay Goddard, deputy director- general of AMI, ...

  • CML warns government over HIPs implementation

    31 Jan 2006

    Reports published by the Council of Mortgage Lenders express serious concern to government over how home information packs will be implemented on time, and the risks of making over-optimistic assumptions about their market impact.

  • CML won't probe web boom

    30 Jan 2006

    The Council of Mortgage Lenders has admitted it has no plans to conduct research into the number of mortgage applications that are completed via the internet, despite the increasing number of lenders moving their propositions online.Bernard Clarke, spokesman for the CML, describes the area as a "black hole" but adds there are no plans to remedy the situation.He says: "Our judgement is that the overall proportion is still low."Clarke adds that while the internet is popular ...

  • Commercial deals are in demand

    30 Jan 2006

    Research by Commercial First among nearly 400 mortgage and loan brokers and independent financial advisers reveals high consumer demand for commercial mortgages. The survey shows 85% of intermediaries receive commercial mortgage enquiries, with 50% of the firms that receive such enquiries going on to process the applications themselves and only 10% turning the business away altogether.

  • Confidence in housing market

    30 Jan 2006

    Home buyers are putting their confidence in the UK housing market this year, with almost 80% expecting average house prices to rise over 2006, research by The Homebuyer Show has revealed. Only 15% expect a fall in the average cost of a property.These figures show a distinct change in expectation from last year when only a quarter expected the market to grow while almost half thought 2005 would see a decline in property prices.

  • Could lenders do more to combat the growing threat of fraud in the mortgage market?

    30 Jan 2006

    Lenders already do a lot but they could work toward establishing a standard way of verifying borrowers' details, say our experts.

  • Curriculum Vitae - Paul Thomas

    30 Jan 2006

    "I like to follow rugby and take a keen interest in photography"

  • Datamonitor appoints managing director of technology global

    2 Feb 2006

    Datamonitor PLC, the premium business information company, has appointed Tim Royston-Webb as managing director of technology global.

  • Dear Delia

    30 Jan 2006

    Dear Delia One of my clients, who is in his 20s, does not trust traditional pension schemes at all and would like to invest in property to help fund his retirement. What are the factors he should bear in mind when considering this type of retirement investment?

  • Debt and divorcees dash FTB dreams

    30 Jan 2006

    Young people hoping to buy their first homes face an increasingly hostile marketplace despite recent figures showing that first-time buyers are returning.

  • Deceased identity fraud is a growing concern

    30 Jan 2006

    Identity theft is the fastest growing crime in Britain and experts warn many fraudulent mortgage and loan applications are slipping through the net because information on the deceased isn't being supplied to credit reference agencies quickly enough.Deceased identity fraud, the act of stealing the identity of someone who has passed away, is the biggest growth area in ID fraud.The Office of National Statistics is responsible for providing credit agencies such as Experian and Equifax ...

  • Deutsche move ruffles rivals

    30 Jan 2006

    Nigel Payne, managing director of The Mortgage Business, says Deutsche Bank would be foolhardy to think lenders will not question their relationship with it once DB Mortgages launches.

  • E.surv to manage panel for Hodge

    30 Jan 2006

    e.surv has been appointed as panel manager by equity release lender Hodge Equity Release. Hodge has appointed e.surv to carry out and manage valuations in respect of its mortgage and reversion lending.Sean Putnam, business development manager for e.surv, says: "We have worked closely with Hodge Equity Release for many years and are delighted to have been chosen to fulfil this important role."

  • Easier2move launches HIP service

    1 Feb 2006

    Easier2move has launched a Home Information Pack service called easierhips. This independent offering allows companies such as mortgage advisers, packagers and lenders to provide their customers with a fully comprehensive HIP including all necessary searches and a Home Condition Report.

  • Easier2Move responds to CML report on HIPs

    31 Jan 2006

    Easier2Move, the online conveyancer, says Home Information Packs will not greatly affect the flow of properties coming onto the market.

  • Egg CEO steps down

    31 Jan 2006

    Online bank Egg's chief executive Paul Gratton has today stepped down from the firm and will leave the company on February 20 following Eggs delisting from the London Stock Exchange.

  • em- gets industry backing for roadshows

    2 Feb 2006

    em- has received confirmed support from top UK lenders at forthcoming Scottish roadshows.

  • Em- roadshow dates announced

    30 Jan 2006

    em- reports a good response from the Scottish broker community following the announcement of dates for its roadshow programme.Taking place at the Crutherland Hotel in East Kilbride on February 28 and the Dalmahoy Country Club in Edinburgh on March 1, the roadshows will present information to help brokers with their everyday business.

  • Enterprise Group to sponsor 2006 Club Formula 3

    31 Jan 2006

    Enterprise Group will become the main sponsor of the 2006 Club Formula 3 Motorsport Championship.

  • Equity ad dispute reveals grey area

    30 Jan 2006

    The Norwich Union advertisement branded "irresponsible" in the recent Which? critique of equity release products has been held up as highlighting the Financial Services Authority's confusing guidelines on financial promotions.Mike Davis, non-executive director of Mortgage Compliance Services and compliance director at BDS Mortgages, says the promotion doesn't make it clear whether it is referring to lifetime mortgage products or non-regulated home reversion plans, or both.But, ...

  • Equity release lending continues to grow, says CML

    2 Feb 2006

    Equity release lending grew by 3% in the last three months of 2005, says data published by the Council of Mortgage Lenders.

  • Estate agents start the process that keeps us all in business

    30 Jan 2006

    From Tom Gardiner I am writing in response to Rick Gifford's reply to my letter in Mortgage Strategy on January 9. He makes some interesting points but I don't feel he has grasped what I was trying to convey to your readers. When the estate agency valuer first goes to value the property, Gifford asks who I think values the property in the first place. Didn't I just say that? I also said in my letter that the estate agent would provide the HIP and pay for it, with the vendor ...

  • Ex MCCB director launches consultancy business

    31 Jan 2006

    Brad Baker, formerly director of communications and marketing at the Mortgage Code Compliance Board is launching a specialist consultancy business Repucare.

  • Exclusive: Jobs on the line at National Guarantee

    1 Feb 2006

    GMAC-RFC is rumoured to be closing down the underwriting and packaging arm of National Guarantee as part of a restructure of the company.

  • Exclusive: Knight rumoured to be joining Mortgage Intelligence

    1 Feb 2006

    Dale Knight, director of mortgages at Berkeley Independent Advisers, a subsidiary of Berkeley Berry Birch, is rumoured to be joining Mortgage Intelligence as managing director Sally Lakers right hand man.

  • Exposing the truth about companies

    30 Jan 2006

    If you know how to interpret them, company reports and accounts can provide a valuable insight into the reality that lurks behind firms' PR facades, says Richard Griffiths.

  • Financial Services Practitioner Panel launches 2006 survey

    31 Jan 2006

    The Financial Services Practitioner Panel is about to launch the first stage of its 2006 survey of regulated firms to obtain an authoritative industry assessment of the performance of the Financial Services Authority.

  • Find out what the FSA expects of you

    30 Jan 2006

    Looking at the FSA's online consumer information booklet is a good way to find out how the regulator expects intermediaries to communicate with customers, says Bill Warren

  • Fixed rate deals with ERCs are transparent and useful

    30 Jan 2006

    From William Gill I read with interest the article by David Hollingworth in the January 9 issue of Mortgage Strategy concerning new fixed rate mortgage deals with early repayment charges beyond the initial fixed period. While I appreciate the fact that Skipton's deal may not be suitable for everyone, I would take issue with the assertion that extended early repayment charges products are always bad news and that deals with no extended ERCs always represent better value. I would ...

  • FMO adds City Connexions to its panel

    2 Feb 2006

    First Mortgage Options has added another Insurer to its panel. City Connexions will join CETA and Paymentshield on the FMO panel offering another option for brokers to access a competitive accident sickness and unemployment product.

  • FMO launches overseas property and mortgage service

    3 Feb 2006

    First Mortgage Options, the mortgage distribution and support services group, has launched its overseas property and mortgage service providing access to properties and mortgages throughout Europe, North America, Dubai and countries in the Far East.

  • Freedom Finance appoints commercial director

    31 Jan 2006

    Freedom Finance, the Wilmslow based loans broker and financial services group, has appointed Patrick Bamford as commercial director.

  • FSA slammed over plan to scrap regulations

    30 Jan 2006

    The Financial Services Authority has come under fire after proposing to scrap some aspects of its regulation.The regulator has proposed dropping its approved persons regime and its compulsory exams for staff in wholesale markets after complaints about the extent of regulation. Now it seems there has been a U-turn, with City bosses complaining about regulations being dropped.Their fears are based on the premise that to cancel the approved persons regime would lower industry standards ...

  • FSPP launches stage one of FSA survey

    30 Jan 2006

    The Financial Services Practitioner Panel is launching the first stage of its 2006 survey of regulated firms, which aims to obtain an authoritative industry assessment of the performance of the Financial Services Authority.

  • Future Mortgages' staff and policies are causing chaos

    30 Jan 2006

    From James Town Further to Steve Foster's letter in your January 23 issue relating his experience with Future Mortgages, I too have had problems with it. About 18 months ago I arranged a mortgage with Future for two applicants. One promptly decamped, leaving his partner to carry on paying the mortgage with the help of her father. I was given the authority by both applicants on October 9 2004 to speak to Future on their behalf. The plan was to get the father on the mortgage ...

  • Genworth appoints MD of global PPI unit

    30 Jan 2006

    Genworth Financial has appointed Angel Mas as managing director of its global payment protection insurance business unit.

  • Get help in helping client debtors

    30 Jan 2006

    A remortgage is not the only option when it comes to helping people with debt problems and brokers should tap the expertise of licensed insolvency practitioners, says Alison Armstrong

  • GM mortgage division reports record earnings for 2005

    1 Feb 2006

    While US auto giant General Motors continues to struggle, its mortgage division has revealed record earnings for 2005.

  • GMAC-RFC completes eighth portfolio sale

    30 Jan 2006

    GMAC-RFC has completed its eighth portfolio sale to Britannia Treasury Services.

  • GMAC-RFC increases income multiples on sub-prime

    2 Feb 2006

    GMAC-RFC has increased the income multiples on its sub-prime range from 3.75 to 4.25.

  • Government must do more for FTBs

    30 Jan 2006

    The Council of Mortgage Lenders recently issued its lending figures for December 2005, which perhaps unsurprisingly were extremely strong. In fact they were strong enough to be, at an estimated 26.3bn, the best on record and annual gross lending hit 287.5bn, just 1% down on the record year of 2004.

  • Grenville Turner leaves HBOS

    3 Feb 2006

    HBOS is set to have a shake up in its intermediary business with the departure of Grenville Turner, head of intermediary business.Nigel Stockton, managing director of HBOS intermediary business, says: Its always sad when people of Grenvilles experience move on, but he has been here for 30 years and feels it is time to move on."It is a real endorsement of what weve been doing over the past six months to know that strategy is working well despite Grenvilles leaving.

  • Halifax reduces 10-year fixed rate

    2 Feb 2006

    Halifax has made changes to its fixed rate mortgage range.

  • HBOS braces for discrimination claim

    30 Jan 2006

    HBOS is to be sued for 11m by a female banker amid claims of sexual discrimination and unfair dismissal.Claire Bright was suspended from her position as head of asset and liability management after a clash with a senior male colleague.Bright reportedly confronted bosses last week with the aim of getting back to work and bringing the dispute to a head.Gillian Howard, Bright's lawyer, says Bright had been stopped from returning to work and is adding claims of unfair dismissal ...

  • HIPs will be good news for brokers in the long run

    30 Jan 2006

    From Neal Smith In response to Rick Gifford's letter in Mortgage Strategy on January 16, I would like to set his mind at rest with regard to Home Information Packs and estate agents. I have sat on both sides of the fence, having plied my trade as both an estate agent and a mortgage adviser. HIPs will contain all the information a prospective purchaser needs to make an educated decision on whether to buy a property. Surely this is worthwhile progress, as currently buyers ...

  • HIPs will benefit first-time buyers, says Spicerhaart

    31 Jan 2006

    Spicerhaart says first-time buyers look set to benefit with considerable cost savings with the introduction of Home Information Packs in June 2007.

  • HIPs will join SIPPs in the dustbin

    30 Jan 2006

    Having looked into the crystal ball I keep on my desk, I'm ready to give my predictions for the rest of this year. And I'm happy to say I see positive things.

  • How to handle a commercial enquiry

    30 Jan 2006

    Over recent weeks we have looked at why you should not overlook the commercial mortgage market which can be a significant source of additional earnings for you, and how you can generate leads.

  • I take issue with Preferred's ad campaign on flexibility

    30 Jan 2006

    From Mike Jones I feel I must take issue with Preferred's advertising in your magazine - "Flexible people... underwriters trained to be flexible... each case reviewed on own merits". I have a client who is 60 years old, has never driven a car and never been out of the country so has no driving licence or passport. According to Preferred, this means she has no proof of ID. She does have an electoral roll card with her photo verified plus an accompanying letter from a local police ...

  • If TML can flout the rules we should all charge more

    30 Jan 2006

    From Lee Martin Over the weekend I received about six pages of glossy unsolicited marketing material from The Mortgage Lender. As we all know, TML is a Kensington subsidiary. It makes me laugh that companies like this are sending out marketing stuff to anyone they can get an address for, especially as I have to write to my clients to get permission to contact them. I have a mortgage with The One account which I am happy with. I do not have any adverse credit history and if I ...

  • IFAP launches factsheet on KFIs

    30 Jan 2006

    IFA Promotions has launched a free factsheet to help consumers understand Key Facts documents.The factsheet forms part of IFAP's campaign to wipe out customer confusion when it comes to financial advice. Key Facts Illustrations were introduced with Financial Services Authority regulation to simplify financial advice for consumers, but there have been calls for modifications as some are confusing and have endless pages.IFAP's factsheet explains how readers can use the mandatory ...

  • IFS exams can be booked online

    2 Feb 2006

    Advisers studying for Institute of Financial Services professional qualifications can now book their exams online at a location and time that suits them. The service went live at the beginning of the month and now extends to all of the regulatory qualifications suite including, The Certificate in Mortgage Advice and Practice, The Certificate for Financial Advisers and The Certificate in Regulated General Insurance.

  • I'll be post boy for a day to help Marie Curie charity

    30 Jan 2006

    From Sir Digby Jones I will be spending March 24 working in the post room because my staff are sponsoring me to spend the day sorting through the letters and packages. I will have to roll up my sleeves and get on with my postal duties in aid of Marie Curie Cancer Care's new initiative, Back to the Shop Floor. As a supporter of MCCC, I am calling on senior staff across the country to take part in this fundraising initiative and spend the day doing a job they don't normally do. ...

  • Immigration boosts buy-to-let demand

    1 Feb 2006

    Paragon Mortgages latest buy-to-let trends survey indicates almost half of landlords expect rental demand from immigrants to increase over the next few years.

  • Increased house prices to boost City bonuses, says UCB Home Loans

    2 Feb 2006

    Increases in house prices particularly at the more expensive end of the London market and in the buy-to-let sector are expected to result from the range of large bonuses being paid in the City between December and February, according to UCB Home Loans.

  • Internet Insite

    30 Jan 2006

    Mortgage Strategys weekly guide to whats hot and whats not on the web. Kevin Paterson takes a look at lender websites, working his way from A to Z weekly guide to whats hot and whats not on the web. Kevin Paterson takes a look at lender websites, working his way from A to Z

  • It takes balls to launch a World Cup deal

    30 Jan 2006

    I am Scottish but I was moved to buy an Eng- land shirt signed by most of the 1966 team at a recent charity auction when the predominantly English guests' reluctance to bid became embarrassing.

  • JMP and Residential 1 agree packaging deal

    2 Feb 2006

    Residential 1 and Just Mortgage Packaging have revealed details of an arrangement that will see the South London based broker package secured loans and commercial mortgages on behalf of JMPs members.

  • John Webster to take over as CEO of Swift

    30 Jan 2006

    The Swift Group last week revealed that John Webster has been appointed as its new chief executive officer.Webster, previously managing director at Preferred, will take up the post on February 1 2006.

  • Knight should refrain from personal attacks and concentrate on his own job

    30 Jan 2006

    From David Wylie I write regarding the letter from Dale Knight, director of mortgages at Berkeley Berry Birch (Mortgage Strategy January 16). Knight's letter deteriorated into a personal attack so I feel compelled to respond. Knight appears to have interpreted my article as evidence of a lack of strategy and planning, and that we have "missed the concept of controlled distribution". Enough of the fiction, now for the facts about c2-financial. We were formed in 1994 and are in ...

  • Knight to leave BBB following deferral of expansion plans

    3 Feb 2006

    Dale Knight has confirmed he is leaving his position as head of mortgages at Berkeley Berry Birch, following the decision to defer expansion plans of Berkeley Independent Advisers independent mortgage network.

  • L&E appoints Christopher Taylor as CEO

    30 Jan 2006

    The board of London & European Title Insurance has appointed Christopher Taylor as chief executive officer. Taylor joined L&E in 2000 and has been pivotal to the repositioning of the company and the diversification of its products and client base. Alan Smith has resigned as managing director to pursue an acquisition opportunity. Gilles Avenel, chairman of L&E, says: Naturally we are sad that Alan has made the decision to leave us, but understand the entrepreneurial desire ...

  • Landlords in East Anglia and the North buy expensive properties

    31 Jan 2006

    Landlords in East Anglia and the North are leading the way in buying more expensive investment properties, according to the latest buy-to-let index from Paragon Mortgages.

  • Leeds extends shared ownership fixed rate deal

    3 Feb 2006

    Leeds has extended its 4.99% five-year fixed rate shared ownership mortgage due to popular demand. The product, which is now fixed until April 30 2011, also allows customers to borrow up to 100% of their share in the property without paying a higher lending charge.

  • Lenders not declaring their income is unfair and galling

    30 Jan 2006

    From Guy Garrard It is with some disappointment but absolutely no surprise I note that without exception, the lender community has chosen to ignore my invitation, published in Mortgage Strategy December 12 2005, to join the regulated food chain and declare their income. There are a number of reasons why they would ignore such an idea but let's just consider two: No-one in the lender community reads MS so they missed the invite.Our lender friends consider ...

  • LMC believed to be Lehman target

    30 Jan 2006

    Lehman Brothers is believed to have made an offer to buy the London Mortgage Company as part of its strategy to get a strong foothold in the UK mortgage market.Mortgage Strategy revealed last May that the investment bank was planning further acquisitions, having acquired Preferred Mortgages in 2003 and Southern Pacific Mortgages Limited in 2002.Less than six months ago LMC rebuffed rumours that it was in financial difficulties and looking for a buyer. Chief executive ...

  • MAB says 2005 was a record year

    30 Jan 2006

    Mortgage Advice Bureau says 2005 was a record year for its advisers. MAB arranged over 2bn in lending during the year, an increase of 35% over 2004. It plans to boost its network with 40 additional branches over the next 12 months and is on target to arrange 3bn in lending in 2006.

  • Making the grade

    30 Jan 2006

    He is a trained teacher and many in the industry could learn from Tony Jones, the managing director of Pink Home Loans, says Barney McCarthy.

  • Maltby to be CML deputy chairman

    30 Jan 2006

    The Council of Mortgage Lenders has appointed a deputy chairman from a sub-prime specialist lender for the first time in 10 years. John Maltby, chief executive of the Kensington Group, will be deputy chairman, while Jon Pain, managing director of Cheltenham & Gloucester, will succeed Nationwide's Stuart Bernau as CML chairman. Maltby is the first deputy chairman from a specialist sub-prime mortgage firm since Duncan Young of Household Mortgage Corp in 1994.

  • Management buyout a success, says O'Riordan Bond

    30 Jan 2006

    The management buyout of a section of ORiordan Bond estate agency has proved to be a great decision for the five senior managers who undertook the deal. The purchase of the financial services arm of the largest independent estate agency in Northampton and Milton Keynes, rebranded Mortgage Decisions, has already seen the key industry player move from 34th to 24th in Legal & Generals National League of Business Partners.

  • Market Watch

    30 Jan 2006

    Swaps reversed their decline of the previous week and edged back up.

  • Melton Mowbray chief executive to retire

    30 Jan 2006

    Gordon Wells, chief executive of Melton Mowbray, is to retire and be replaced by HSBC's head of stock broking Martin Reason.Wells has been with the society for over 25 years. He says: "It has been a privilege to have served the society and its members for many years. I have received the full support of directors and staff during my period in office and that commitment has helped us position the society as a highly respected financial institution."I have witnessed considerable ...

  • Merrill Lynch predicts flat house prices

    30 Jan 2006

    Merrill Lynch believes 2006 will be characterised by stability in terms of key housing macro factors and forecasts flat housing transaction volumes and house prices.

  • MEX reveals growing confidence for buy-to-let

    30 Jan 2006

    A survey from Mortgage Express reveals a high level of confidence among landlords.

  • Millions of adults do not have fire alarms

    3 Feb 2006

    Research published by Halifax Home Insurance reveals that more than 8.5 million UK adults do not have a smoke alarm installed in their home to alert them if a fire broke out.

  • Money worries really make you sick

    30 Jan 2006

    With debt at a record high and a society that seems engulfed by the 'buy now, pay later' culture, the importance of money to our lives and happiness is no great surprise. And money has now resulted in a newly defined illness.

  • More than 670,000 borrowers stung by penalty fees

    30 Jan 2006

    Over 672,000 borrowers were stung by penalty fees on personal loans in the past year, reveals research by MoneyExpert.com and Defaqto.

  • Mortgage advice via webcam

    30 Jan 2006

    Clegg Gifford Private Clients is offering mortgage advice via a webcam. Available by appointment only, online interviews take place with qualified mortgage advisers. CGPC is also introducing a 'text-for-a-quote' mortgage calculator and an interactive mortgage quote window based at the company's Docklands offices.

  • Mortgage Brain teams up with TitleAbsolute

    3 Feb 2006

    Mortgage Brain has teamed up with TitleAbsolute, a provider of managed conveyancing services in the UK, to offer users access to its nationwide network of lawyers and conveyancing firms via its customer-facing service, Prime Conveyancing.

  • Mortgage Strategy continues to dominate trade press

    30 Jan 2006

    Mortgage Strategy has been crowned cream of the crop again after the Audit Bureau of Circulations published figures showing your favourite mortgage trade magazine grew again to 12,500 controlled free circulation copies for the period July to December 2005.

  • Mortgage Trust adds two products to Select range

    2 Feb 2006

    Mortgage Trust is adding two products to its MT Select range. The buy-to-let lender is offering both products exclusively through MT Select packager members.

  • MPLC launches online conveyancing service

    1 Feb 2006

    Mortgages PLC, the UK lender and subsidiary of Merrill Lynch, has launched a preferential online conveyancing service and is also making a free valuations scheme available to intermediaries until the end of 2006.

  • MS exposes politician's ignorance on sub-prime

    30 Jan 2006

    Alan Duncan MP, shadow secretary for trade and industry, made a spectacular blunder last week when he admitted to Mortgage Strategy that he had never heard of sub-prime mortgages, or indeed the non-conforming or specialist lending sector.Ironically, the admission came while Duncan was at the Blackfriars Advice Centre in south-east London to discuss responsible borrowing.Mortgage Strategy asked the MP whether he thought more borrowers moving into the sub-prime market ...

  • MT unveils plans to set up packaging association

    30 Jan 2006

    The Mortgage Times Group is setting up a packaging association with a view to eventually launching its own lender.United Packagers Association, which will be officially unveiled in a few weeks, will be headed by the group and consist of as many as 50 small packagers and satellite packaging firms.The aim of UPA is to help smaller packagers grow, and Mortgage Times will offer members access to its marketing, compliance and IT facilities, and panel of lenders. In return, it is ...

  • Mutual ramrods rustle bankers' stock

    30 Jan 2006

    It always used to be Abbey that laid claim to the 'thumbs up' logo. Remember those jeans patches that appeared in its 1980s television advertisements?

  • N&P reduces rates on UK and Spanish fixed products

    30 Jan 2006

    Norwich and Peterborough has reduced rates on its UK and Spanish fixed rate mortgages, with immediate effect.

  • Network Data adds Infinity to direct to lender panel

    2 Feb 2006

    Network Data has added Infinity Mortgages to its direct to lender panel.

  • Network Data AR conference

    30 Jan 2006

    Network Data will host its first appointed representative annual conference on February 22 at the Celtic Manor Resort in Newport, Wales. This free event will consist of an exhibition area supported by providers, along with guest speakers. The event will conclude with a gala dinner with awards for Network Data's top producing ARs.

  • Network Data freezes fees

    30 Jan 2006

    Network Data has frozen membership fees for all appointed representatives for the whole of 2006. All firms will pay 120 for the company and first adviser, and 60 for each additional adviser. The network says this proves its strength and commitment to ARs.

  • New Life reveals boost in market share

    30 Jan 2006

    New Life Mortgages has announced a boost in its market share due to demand for its higher release lifetime mortgage. Having started writing business in 2004, New Life believes it has captured 7% of the total lifetime mortgage market and is established as one of the top five lifetime mortgage providers. New Life believes the key driver for the boost is its lifetime fix higher release product, launched in July 2005. The higher release mortgage offers an LTV of 33% ...

  • NLA research reveals landlords will rent to homeless

    31 Jan 2006

    Research from the National Landlords Association reveals that, in areas where their local authority encourages them to do so, over a quarter of landlords rent properties to homeless families.

  • NR profits grow

    30 Jan 2006

    Northern Rock has reported annual profits of 504.6m, up 14.3% on its performance in 2004. Adam Applegarth, chief executive, of NR, says: "Lending, dominated by low risk residential mortgages, has been strong resulting in balance sheet assets growing to 81.1bn, an increase of 24.9%. Underlying pre-tax profits rose by 14.3% to 504.6m and attributable profit grew by 13.6% to 308.1m."

  • Offests can pay off

    30 Jan 2006

    Abbey says borrowers with an offset mortgage who overpay by 3 per day could save themselves 22,000 in interest, and pay off their mortgage three and a half years early. Abbey's offset mortgage, Flexible Plus, is a lifetime tracker with flexible features such as over and underpayments.

  • OFT and DTI launch Scam Awareness Month

    1 Feb 2006

    John Fingleton, chief executive of the Office of Fair Trading, and Gerry Stutcliffe, Department of Trading and Industry minister for consumer affairs, jointly launched the 2006 scams awareness campaign. The campaign will run throughout February and aims to arm consumers with the knowledge and skills they need to recognise, report and stamp out mass-marketed scams.

  • Packagers can still pack a punch

    30 Jan 2006

    The reasons packagers were formed in the first place are still sound and, if they embrace technology, their business model will see them remain valuable players, says Payam Azadi

  • Paul Allen to lead HoC development strategy

    30 Jan 2006

    Home of Choice has appointed Paul Allen as network development director.Allen, who helped develop the mortgage division of Zurich Advice Network, has over 18 years' experience in the finance industry having previously worked at Prudential and Allied Dunbar. He will coordinate the network's calendar of peer group meetings, workshops and roadshows.Richard Coulson, managing director of Home of Choice, says: "The business is now getting to the size where we need to take on more ...

  • Personal Touch reveals record 60m turnover and 1.9m profits

    1 Feb 2006

    Personal Touch Financial Services has revealed it had a record year in 2005 with a 60m turnover and profits of 1.9m. The result strengthens the network's position as a key player within the UK financial services market, and follows its eleven year trend of almost doubling in size in every year of its existence. Despite this remarkable achievement, the business continues to operate completely debt free The business is also committed to reinvesting the majority of Profit ...

  • Platform lauches 70% LTV band across sub-prime

    2 Feb 2006

    Platform the intermediary lender of Britannia is to launch a 70% LTV band across its sub-prime mortgage range stretching from almost prime to medium adverse.

  • PMS achieves 30.5bn completions in 2005

    2 Feb 2006

    Premier Mortgage Service has revealed that following the successful integration of the former Norwich Union Mortgage Club, it achieved 38.5bn applications and 30.5bn completions in 2005.

  • Portman reports 15% growth in assets

    2 Feb 2006

    Portman has published its annual results for 2005, revealing a 15% growth in assets and underlining its position as the third largest and fastest growing top 10 UK building society.

  • Prestbury report shows increase in profit

    31 Jan 2006

    Prestbury Holdings has had a growth in profit of 85% up to 1.8m, says its chairmans year end report to October 31 2005. Francis Maude, chairman of Prestbury, says: A year ago I said that Prestbury faced the future with cautious optimism. Both the caution and the optimism have been justified.

  • Price rises mean pensioners prosper

    30 Jan 2006

    Since my column last week focussed on how singletons are doomed to a life of poverty and working into their dotage if they don't grow up financially, I thought I'd take a more cheerful approach this week.

  • Promising outlook for IT providers

    30 Jan 2006

    Regulation has resulted in more use of technology by intermediaries to cut costs and ensure compliance, so it looks like 2006 will be a good year for brokers and IT providers, says Frank Eve.

  • Propertyfinder signs deal with Tiscali

    30 Jan 2006

    Propertyfinder.com has signed an exclusive deal with Tiscali to supply it with a property search capability. Users searching the property channel on www.tiscali.co.uk can view over 270,000 properties for sale or rent, powered by propertyfinder.com. They will also be able to contact over 2,300 of the markets leading estate agents who use propertyfinder.com, and read news and expert editorial on buying property and selecting mortgages and solicitors.

  • Reasons for bankruptcy "varied and complex" says report

    31 Jan 2006

    An independent pilot study into the bankruptcy system in England and Wales, says although 50% of people give inability to manage credit as a reason for their financial failure, the causes and effects of bankruptcy are varied and complex.

  • Regulation is off to a good start

    30 Jan 2006

    In 2004 the Council of Mortgage Lenders undertook a consumer survey to gauge views on the mortgage market before the implementation of statutory regulation.

  • Remove the barriers to selling MPPI

    30 Jan 2006

    Mixed messages are always a problem and can be downright damaging. Nowhere in our industry is this more evident than with mortgage payment protection insurance. Industry prac- titioners and consumers have been presented with a raft of confusing and in some cases incorrect information.

  • Repossessions increased in 2005, says CML

    3 Feb 2006

    The number of properties taken into possession by mortgage lenders rose to 5,630 in the second half of 2005, figures released by the Council of Mortgage Lenders show. This was 22% higher than the 4,620 in the first half of the year, but still extremely low by historical standards - the peak half-yearly figure was 38,930 in the second half of 1991.

  • Retirement Plus increases maximum advance rates on equity release product

    2 Feb 2006

    Retirement Plus has increased the maximum advance rates for its equity release product, The Property Plan. They are now substantially in excess of lifetime mortgage maximums and are comparable to maximum amounts offered on reversion products - without the homeowners having to immediately sell their total interest in the property.

  • Richard Lloyd is appointed as MD of Hockleys Surveyors

    31 Jan 2006

    Richard Lloyd has been appointed managing director of Hockleys Surveyors.

  • RICS predicts 1.33 million mortgage approvals in 2006

    31 Jan 2006

    The Royal Institute of Chartered Surveyors predicts mortgage approvals will hit 1.33 million in 2006, compared to a total of 1.2 million for 2005, but still below the 2002 level of 1.42 million.

  • Rightmove to go public

    30 Jan 2006

    Property website Rightmove.co.uk is set to float on the Stock Exchange with estate agents and developers in line to receive shares. The website, which has been running for five years, could be valued at as much as 400m. Maud Rousseau, PR manager at Rightmove, says: "The directors want to take Rightmove to the next level and there was no way that they wanted to sell up."

  • Rooftop to allow brokers direct access to products

    30 Jan 2006

    Mortgage Strategy has learned that Rooftop Mortgages is to widen its distribution by allowing brokers to access its products directly.Rooftop will now offer three channels for intermediaries to make use of its products - via its packaging partners, through the Rooftop Service Centres and now direct.The lender is keen to emphasise that the move to offer direct services will not sideline packagers.Alison Beech, sales and marketing director at Rooftop, says: "Going through ...

  • Scarborough offers enhanced proc fees

    30 Jan 2006

    Scarborough is offering enhanced procuration fees as part of its strategy to expand broker channels.The society previously paid enhanced proc fees to its intermediary panel and is now offering higher proc fees to other brokers in a drive to develop relationships with the whole broker community.Replacing its previous set fee regime, the rates will be tiered at 0.25% for residential customers, 0.4% for buy-to-let and 0.65% for light adverse cases.Simon Evans, relationship ...

  • SHIP members predict innovation

    30 Jan 2006

    Members of Safe Homes Income Plans are predicting more product innovation in the equity release market.In a member survey, most believe the equity release sector will become more competitive from the first quarter of 2006 and equity release interest rates will either stay the same or fall during the year, meaning cheaper deals for consumers.Jon King, chairman of SHIP, says: "2005 was a positive year for equity release with low interest rates, growing demand and new providers ...

  • SHIP members report growth in home reversions

    30 Jan 2006

    The18 members of equity release industry body Safe Home Income Plans that represents over 95% of the equity release sector, has reported Q4 figures to December 31 2005 and full year results that show a continued growth in home reversion business year on year and a significant increase in drawdown business. The total value of new business written in Q4 2005 was 297.6m contributing to a total new business figure of 1,103.5m for 2005. The value of written lifetime mortgage business ...

  • Shop around for best MPPI, says Moneyfacts.co.uk

    2 Feb 2006

    Consumers should shop around for the best mortgage payment protection insurance, says moneyfacts.co.uk

  • Should brokers learn about equity release?

    30 Jan 2006

    Equity release products have had their fair share of column inches this year and, if a survey by Safe Homes Income Plans is to be believed, the sector will be the centre of attention for some time to come.At the beginning of January Which? branded equity release schemes expensive and inflexible and warned they could leave consumers with little or no equity in their homes. It also provoked outrage from the industry when it suggested that the way these "high risk" products were advertised ...

  • SimplyBiz launches mortgage club facility

    31 Jan 2006

    SimplyBiz, the financial services company, has launched of its mortgage club facility called SimplyBiz Mortgages.

  • Skipton to launch fixed rate range starting at 4.45%

    30 Jan 2006

    Skipton is launching a range of two-year, three-year and five-year fixed rate mortgages, with rates starting from as low as 4.45%. This means borrowers could make initial monthly payments of only 553 on a 100,000 repayment mortgage. The range will be launched on Wednesday.

  • SMS reveals roadshow dates

    1 Feb 2006

    Solent Mortgage Services, the national branded mortgage arranger, has released dates for the first of its 2006 mortgage roadshows.

  • Staff changes at FSA

    2 Feb 2006

    Andy Watson, head of mortgages and credit unions in the small firms division of the Financial Services Authority, will be replaced by Michael Lord, head of investments in the small firms division.Lord will also continue to look after the investment department (managing both departments for a limited period only) until February 20, at which point Jonathan Fischel, head of department in the retail firms division, will move across to become head of investments

  • Strategic game

    30 Jan 2006

    Changing social trends have made buy-to-let one of the success stories of the past few years, but increased competition means brokers must ensure their clients have a robust strategy in place, says Mira Butterworth.

  • Stroud & Swindon withdraws buy-to-let product

    31 Jan 2006

    Stroud and Swindon has withdrawn one of its current buy-to-let product. The product which is fixed until February 29 2008 at 4.79% will be withdrawn from today.All other products remain the same. The buy-to-let fixed product will now be fixed at 4.99% until February 28 2009, reverting to 6.54%.

  • Student lets cause degree of friction

    30 Jan 2006

    student landlords are being blamed for causing friction in local communities and leading to a rise in house prices.A report by Universities UK says that although universities can contribute to the regeneration of inner cities and rundown areas they often attract burglars and drive out families.The situation is made worse by landlords buying up entire neighbourhoods for student accommodation.The report claims: "A general decline in the proportion of owner-occupiers can lead ...

  • Sub-prime time

    30 Jan 2006

    With several new lenders poised to join the fray and uncertainty about the consequences for the market, this will be an interesting year for sub-prime, says Robyn Hall.

  • Taylor's Tour.....

    30 Jan 2006

    Henry Taylor's day job is running a mortgage broking business in Eastbourne on the south coast of England. When not at the office, he loves taking part in the Seat Cupra Championship.

  • Telling it like it is

    30 Jan 2006

    In this extract from Stephen Knight's Creator and Trader: A Vision for Growth in the UK Mortgage Market he addresses packager fee disclosure.

  • The end of 'caveat emptor' is nigh

    30 Jan 2006

    Life is not without risk but watching the Westminster scene makes you wonder how people balance it. Politicians live with the risk they will not be re-elected, the risk that they will not get a front bench job.

  • The Mortgage Mole

    30 Jan 2006

    OLD STORYA special 26th birthday present for Mole's man in the thick of it last week with an anonymous mention in Creator and Trader, Stephen Knight's recently published second book explaining GMAC-RFC's phenomenal growth.On page 50 the executive chairman recounts speaking about equity release at the 2003 CML conference saying there would be no competition from "us in the wrinkly sector"."The comment got a great laugh," he recalls. "A journalist [Thickett] picked ...

  • The strange case of the proc fee poll

    30 Jan 2006

    A cynical broker might think that the only voters against retention procuration fees in the recent Mortgage Strategy website poll were lenders themselves, says Sue Read.

  • Thinc Destini makes two senior appointments

    30 Jan 2006

    Thinc Destini has made two senior appointments. The company which has recently attracted multimillion pound investments from major City institutions has appointed Howard Flight as non-executive director and Nick Kelly as group commercial director.

  • Threesixty teams up with eConveyancer

    2 Feb 2006

    Threesixty, the fee-based IFA support services provider, has secured a strategic partnership that gives its mortgage broker clients access to the online service eConveyancer.

  • TMB roadshow tour underway

    30 Jan 2006

    The Mortgage Business has kicked off its regional roadshow tour highlighting its 2006 business plans to brokers and packagers. The roadshows mark the launch of TMB's spring campaign and it will outline its plans, including entering markets such as the sub-prime sector. The next two dates are confirmed as Tuesday February 7 in Exeter and Wednesday February 8 in Bristol.

  • TMB welcomes UPA launch as sign of healthy competition

    31 Jan 2006

    The Mortgage Business says the creation of the United Packagers Association will create healthy competition in the market.

  • Tony Swift gains position on Law Societies Legal Practice Course Board

    31 Jan 2006

    Tony Swift, marketing partner at Barnetts Solicitors has secured a prestigious position within the solicitors governing body. Swift who joined the leading high volume conveyancing firm in 1987, has been appointed to the Law Societys Legal Practice Course Board. The LSLPCB deals with all matters relating to the approval and monitoring of institutions providing Legal Practice Courses a key part of vocational training to become a solicitor. It also administers the ...

  • Treasury appoints Greenspan as adviser to the chancellor

    2 Feb 2006

    The Treasury has revealed Dr Alan Greenspan KBE has agreed to be honorary adviser to the chancellor of the exchequer Gordon Brown.

  • UCB reduces self-cert rates

    3 Feb 2006

    UCB Home Loans is reducing interest rates on its self-cert two-year tracker mortgages by 0.10% on 6 February 2006.

  • Use a truly independent HIP provider

    30 Jan 2006

    Just before Christmas the Association of Mortgage Intermediaries responded to the Office of the Deputy Prime Minister's consultation on the introduction of Home Information Packs.

  • Vesta offers instant affordability facility

    30 Jan 2006

    Vesta Packaging has added an affordability calculator to its website that allows brokers to instantly assess how much their client can borrow.The intermediary is required to enter the primary and secondary applicants' gross annual incomes, monthly outgoings not being consolidated, outgoings on loans, credit cards or higher purchase, and whether the clients are low, medium or high adverse. The result is then displayed in red text.Mark Leaper, managing director of Vesta, says: ...

  • Victoria unveils near prime range

    2 Feb 2006

    Victoria Mortgages today revealed details of its new market leading range of fixed and variable rate near prime mortgages, to complement its established suite of sub-prime products.

  • Website claims DA firms get raw deal from lenders

    30 Jan 2006

    When it comes to fees and representation, a broker website says directly authorised brokers are getting the thin end of the wedge from lenders.BrokerMosaic.com, an online community forum for mortgage brokers, says many lenders discriminate against DA firms by paying them less than networks.Alan Howle, a spokesman for BrokerMosaic.com, says DA brokers already bear an increased cost burden due to their authorisation, yet receive significantly lower fees than appointed representatives ...

  • WFG award winners revealed

    30 Jan 2006

    The fourth Womens Financial Adviser Group award winners were announced at a gala dinner in Londons Canary Wharf on Friday January 27.

  • Wolton Commercial expands business with three appointments

    31 Jan 2006

    Wolton Commercial, a division of Wolton Chartered Surveyors, has made three key appointments to further develop and expand the business.

  • Woolwich offers 10-year fixed rate deal at 4.67%

    3 Feb 2006

    The Woolwich is offering a flexible 10-year fixed rate mortgage that leads the market at a rate of 4.67%. It gives consumers a range of flexible features including the ability to make overpayments of up to 5% per annum without any additional charge.

  • You've got to laugh at the idea of brokers having fun

    30 Jan 2006

    Name and address supplied Peter Mounty, you are a star. Your exhortation for 2006 (Mortgage Strategy January 16) should be framed above the desk of every person in the mortgage business. Your plea is that all in the industry lighten up and have more fun. Only Shakespeare could have put it better. (For those of you who have not read his work recently, Shakespeare is still as incisive and fresh as ever.) No doubt many thousands of small brokers - more than 80% in the mortgage ...

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