Mortgage Strategy
31 January 2005

  • 15,000 lifetime mortgages in H2 2004, reveals CML

    3 Feb 2005

    Over 15,000 lifetime mortgages with a value of 693m were advanced in the second half of 2004, says the latest survey results published by the Council of Mortgage Lenders.

  • 52% of househunters expect prices to rise

    31 Jan 2005

    The latest research from property website propertyfinder.com shows a sharp upturn in confidence in the housing market with 52% of househunters expecting house prices to rise, compared to only 30% in December.

  • A little Myth Understanding

    1 Feb 2005

    This is the second of a series of articles exploring popular misconceptions on legal issues affecting the property market in England and Wales.

  • A view from the floor

    31 Jan 2005

    Stuart Bernau, commercial and treasury director of Nationwide, says shared ownership initiatives are welcome, but more could be done to help aspiring FTBs.

  • Advantage criticised over fees-free products claim

    31 Jan 2005

    Advantage Mortgage Services has been criticised for not giving brokers the full picture on what it claims are fees-free remortgage products.In a press release sent out last week, the firm describes its Mortgages PLC-funded M300 range of remortgage deals as "completely fees free".However, the offer only extends to valuation and legal fees for the broker and not to any fees payable by the consumer, such as those for completion.Advantage denies this is misleading and says that ...

  • Advisers report pick-up in mortgages

    2 Feb 2005

    Brokers and financial advisers have reported a pick-up in the number of mortgages arranged, says Paragon Mortgagess financial adviser survey, conducted at the end of 2004.

  • All change in the conveyancing chain

    31 Jan 2005

    E-conveyancing could dramatically cut the cost of buying and selling properties but it will also require a change of mindset from conveyancing lawyers, says Caroline Havers.

  • AToM added to Burns-Anderson packaging panel

    1 Feb 2005

    All Types of Mortgages, the mortgage distribution, packaging specialist and PMPA member, has been added to the Burns-Anderson network's panel of packagers.

  • Average regulatory fee set to rocket by 1,000

    31 Jan 2005

    The estimated cost of regulatory fees for the average mortgage intermediary will be 1,150 - nearly 1,000 more than under the voluntary regulatory system of the Mortgage Code Compliance Board.The Association of Mortgage Intermediaries says the cost of FSA regulation of mortgages and general insurance will be 44m - a huge increase over the 5m per year it cost under the MCCB.Costs are broken down as a minimum fee of 750 from the FSA for mortgages, 250 for offering general insurance ...

  • B2L investors missing out, says Landlord Mortgages

    31 Jan 2005

    Research from Landlord Mortgages has found that 33% of potential investors have been put off buy-to-let, as they have been unable to find a suitable investment property.

  • Blue Sky

    31 Jan 2005

    We all know them. The supervisor who constantly berates their people. The team leader who creates division within the group instead of harmony. The manager who condescends to talk to individuals in their group but never listens to their input. These are toxic bosses. They sap the energy of the individuals in their groups. They are belittling, petty and loud. They consider themselves better than everyone else and they don't care who knows it. All they care about is 'getting the job done'. ...

  • BMS takes top gong at Square Mile awards

    31 Jan 2005

    BM Solutions was crowned lender of the year at the annual Square Mile Mortgage Finance awards earlier this month.For the past three years the City of London brokerage, now an appointed representative of Hamptons International Mortgages, has presented just one award to the lender that it says has delivered both exceptional value for money and quality of service.Andy Wilgoss, managing director of Square Mile Mortgage Finance, says: "BM Solutions rightly won this award for 2004. ...

  • Britannia in pole position for its website

    4 Feb 2005

    Britannia has the friendliest website in the UK banking sector, says the independent website testing company, SiteMorse.

  • Brokers hail First Active's proc fees fairness policy

    31 Jan 2005

    First Active is being praised by brokers for paying them the full procuration fee again if they recommend its products to clients at the end of a two-year fixed rate deal.Brokers have hit out at other lenders who they accuse of using aggressive tactics to poach existing clients from them at the end of a fixed product.John Stewart, director at PMI Independent Financial Adviser, says: "What First Active is doing is uncommon but it's fantastic and others should follow suit. Lenders ...

  • Chelsea hits out at Portman

    31 Jan 2005

    Chelsea has criticised fellow mutual Portman for no longer making its two-year fixed rate product available to the whole industry.Both societies have two-year fixes at a rate of 4.49%, but while Chelsea is making its available through brokers, Portman's is now only available through its branches.Chelsea has also launched a three-year fixed rate, five-year fixed rate and five-year fixed rate plus cashback mortgages. Its three-year fix has a rate of 4.89%, while the 10-year fix ...

  • CI opens its doors to mortgage brokers

    4 Feb 2005

    The Compliance Institute is to open its doors to mortgage brokers, general insurance brokers and other professionals in response to the recent demands put on brokers and professional firms to meet and comply with the Financial Service Authority's requirements.

  • Could lenders do more to help debtors?

    31 Jan 2005

    GMAC-RFC recently launched the industry's first worldwide charitable foundation along with the Citizens Advice Bureau to help prevent home repossessions.The move is welcomed by BM Solutions, which sends out debt counsellors to clients to give advice to those taking out sub-prime mortgages.Repossessions are on the rise and 80% of the nation's personal debt is in the form of loans such as mortgages and remortgages secured against homes.So, Mortgage Strategy asks: "Do you ...

  • Coulson to leave Zurich Mortgage Network

    31 Jan 2005

    Richard Coulson is to leave his post as Zurich Mortgage Network director and may take up a sales management role in Zurich Advice Network.Sources say Coulson is leaving his current position over disagreements about future plans, with some saying he may quit the Zurich group completely.One source says: "Coulson will be leaving Zurich Mortgage Network in the near future due to the restructuring, which he was not overly pleased with."Nicola Bryson, spokeswoman for Zurich, says: ...

  • Coventry launches new offset mortgage

    4 Feb 2005

    Coventry has launched a new offset mortgage.

  • Coventry launches new offset mortgage

    3 Feb 2005

    Coventry has today launched its new offset mortgage.

  • CPP achieves British Standard for information security

    1 Feb 2005

    CPP Group has been awarded the globally recognised British Standard for information security management practices, BS7799.

  • Creative review

    31 Jan 2005

    There is growing concern that regulation is stifling product innovation. Harvey Jones looks at whether lenders will soon have to start using their designing magic to pull exciting products out of the hat.

  • Cv

    31 Jan 2005

    Name: Bill WarrenAge: 57Company: Complete Mortgage & Loan ServicesJob Title: Compliance directorWhere do you live? BristolDescribe your current job: My role as a board director is to be responsible for our compliance as an FSA authorised and regulated firm. Working within CMLS' network operation, I am responsible for the network providing services to our appointed representatives. This includes the monitoring of their advice and sales activity via our online Home Buyer system, signing ...

  • Dear delia

    31 Jan 2005

    Dear Delia Nick is looking to buy his first investment property. He currently has a residential mortgage with an LTV of approximately 95%. He has savings of £24,000 which he intends to use as deposit and to cover fees and has found a property he would like to buy at £145,000. He has been advised that the anticipated rental from this is in the region of £620 per month. Nick has been declined by one lender on the basis that the rental income is insufficient. Can you offer ...

  • Demise of packaging sector has been grossly exaggerated

    31 Jan 2005

    From Keith Hood

  • Enterprise Homeloans continues expansion of business

    3 Feb 2005

    Enterprise Homeloans, part of the Enterprise Group, says that due to the continuing expansion of its business and volumes, it has taken a further 3000 sq ft of office space at its Edgware base to accommodate its growth.

  • Falling house prices blamed for estate agent's death

    4 Feb 2005

    An estate agent has apparently killed himself because he was agonising over falling house prices, it was reported in the press today.

  • Farmland prices still rising strongly, says RICS

    3 Feb 2005

    RICS' rural land survey for the fourth quarter of 2004 reveals that it saw an increase of farmers moving back into the market as their CAP entitlement becomes clearer.

  • Fast indemnity website launched

    31 Jan 2005

    London & European says its new website, www.titlesolv.com, is the fastest web-enabled service in the market, delivering legal indemnities in less than three minutes.The site provides solicitors with instant quotes and cover for search indemnities and known defect policies.Alan Smith, managing director of L&E, says: "There are over two million property transactions per year and 20% of these have a small defect. This is a daily headache for conveyancers."Titlesolv offers a ...

  • Financial health matters

    31 Jan 2005

    Building a sustained income surplus is of value to consumer and broker alike. Put simply, with increased funds - and profits - available there is an opportunity for continued customer investment through increased financial awareness. If this financial literacy is a result of the broker/client relationship, it emphasises the importance of such a relationship and the value of the advice given.So, given that brokers are in the enviable position of being at the centre of this virtuous ...

  • Forming the Right Relationships

    1 Feb 2005

    Late last year Kensington unveiled its packager Code of Conduct, essentially a service level agreement between us and the packagers we work with. The code outlines that business packagers should engage in business, depending on whether they are authorised or not, as well as the standards and the level of service we expect from them.

  • FSA issues details of scope of enforcement processes review

    2 Feb 2005

    John Tiner, chief executive of the Financial Services Authority, has unveiled the scope, form and timing of the promised review of the FSA's enforcement processes.

  • FSA responds to GI industry cries for help

    1 Feb 2005

    The Financial Services Authority is responding to requests from the general insurance industry for help on the new rules on inducements and managing conflicts of interest which apply to insurers and intermediaries under general insurance regulation.

  • FSSC proposes reform of industry performance standards

    3 Feb 2005

    The Financial Services Skills Council is to launch a month-long consultation process on February 9, to seek the views of the financial services industry on its revised draft industry performance standards for Retail Financial Services.

  • FTBs create dream home in month, reveals A&L

    4 Feb 2005

    As the cost of moving home rises to almost 15,000, Alliance & Leicester research shows first-time buyers are creating dream homes in a month.

  • GMAC-RFC blacklists 41 brokerages

    31 Jan 2005

    GMAC-RFC last week blacklisted 41 mortgage brokerages and individuals it describes as unacceptable introducers in a document seen by Mortgage Strategy.The lender's most recent list of brokers it is unwilling to do business with - dated January 24 and marked confidential - was circulated by the lender's head of sales support, Tony Fisher, to business partners such as packagers.An introducer who saw the document says: "On the whole, I take my hat off to GMAC-RFC for this initiative. ...

  • GMAC-RFC goes on the offensive

    31 Jan 2005

    GMAC-RFC today unveils its biggest product launch across self-cert, buy-to-let and sub-prime, including what brokers say is the highest buy-to-let LTV in the market at 89%.The 89% LTV is available on its three-year fixed rate of 6.25%. GMAC-RFC says this is designed to attack the competition head-on.Jonathan Cornell, technical director at Hamptons International Mortgages, says: "Offering 89% LTV on buy-to-let is good news. But as GMAC-RFC's three-year fixed rate is 6.25%, borrowers ...

  • Herts mortgage broker refused credit licence

    3 Feb 2005

    A Hitchin mortgage broker has had his application for a consumer credit licence refused by the OFT.

  • House price crash a myth, says UK Housing Economics

    31 Jan 2005

    UK Housing Economics has released its debut housing paper, explaining why there will not be a house price collapse in 2005.

  • House prices increase by 0.8% in January, says Halifax

    3 Feb 2005

    The Halifax House Price Index, released today, shows that house prices increased by 0.8% in January.

  • Housing affordability worsening, says CML

    1 Feb 2005

    Housing affordability continued to worsen in 2004 in all four national markets within the UK, the Council of Mortgage Lenders' annual review of market developments in England, Scotland, Wales and Northern Ireland shows.

  • How would the proposals in cp05/1 affect packagers and third party processors?

    31 Jan 2005

    CP05/1 has whipped up a storm but here two experts debate what the practical implications would be for packagers and third party processors?

  • IFS launches lifetime mortgages qualification

    3 Feb 2005

    The Institute of Financial Services has developed a lifetime mortgages qualification to complement the existing CeMAP provision, the Certificate in Lifetime Mortgages.

  • Infinity enhances product range

    1 Feb 2005

    Infinity Mortgages, the specialist lender, has enhanced its products, adding a number of new deals to its range.

  • Internet insite

    31 Jan 2005

    One of the dangers of having your own website is over-familiarity. Your website isn't just there because you think you ought to have one - and if you do have one it's easy to forget that it exists like I do with mine. Your website is there to provide an access point for your existing and prospective customers, acting as a promotional tool, as a delivery route, and even as a support for your customer relationship management programme.This week's mortgage broker threesome hail from ...

  • John Hague joins Mortgage Promotions

    2 Feb 2005

    Mortgage Promotions has appointed John Hague as key account manager.

  • Lender's blacklist is a warning shot

    31 Jan 2005

    News last week that GMAC-RFC produces a confidential blacklist of 'unacceptable introducers' was a further warning to the intermediary community of just how seriously lenders are taking their responsibilities.The list effectively bars some 41 mortgage firms from doing business with GMAC-RFC.And it's not alone in taking such steps to ensure dodgy dealers are pushed out of the market, with the likes of BM Solutions and Accord Mortgages saying they compile similar lists.Lenders ...

  • Lenders could buy into The Exchange

    31 Jan 2005

    The Exchange could be the perfect vehicle for the integration of the mortgage, insurance and investment distribution channels. What's missing is the involvement of lenders, says Frank Eve.

  • Lender's tactics questioned

    31 Jan 2005

    First National is being accused of using underhand tactics by selling its further advances as secured loans from igroup, another part of the GE Consumer Finance group.David Warnes, director at broker Asset Design, says the tactic is at odds with the Financial Services Authority's principle of treating customers fairly.Warnes advised one of his clients who wanted to raise extra money that the best way to do so would be to take out a further advance on their existing mortgage ...

  • LI industry at a crossroads, says Moody's

    31 Jan 2005

    Rating agency Moody's investors says the life insurance industry stands at a crossroads with big brands likely to come out on top after a period of unprecedented upheaval.

  • Low-start payments could help FTBs

    31 Jan 2005

    One of the ideas kicked around by Monty Burn and myself concerned low-start payments in the first couple of years of a deal, whereby the payments made by the first-time buyers are lower than the interest rate charged. The capital amount owing does however build up by the difference between the 'rate' paid and the 'rate' charged.Ah-ha, I hear you say - or at least the older readers among you. This is going back to the good (or should that be bad) old days of deferred mortgages in ...

  • Management changes as Kensington restructures

    31 Jan 2005

    A number of senior management figures including Alastair Pate are to leave Kensington Mortgages, and new roles are being created as part of the firm's plans for growth.Pate, director of marketing, Clare Law, who runs back office operations, and Roy Barnett, who is in charge of emerging operations, will all be leaving over the next few weeks. John Maltby will continue as chief executive.Kensington is looking for a chief operating officer and a director of marketing and strategy.Kensington ...

  • Market watch

    31 Jan 2005

    Swaps fell last week before recovering to reach pretty much the previous week's levels.One-year money is up 0.01% at 4.95%Two-year money is unchanged at 4.87%Three-year money is unchanged at 4.87%Five-year money is up 0.01% at 4.88%It was a busy week for rates but mostly in buy-to-let rather than residential. At the moment we seem to be in the middle of a buy-to-let war.We saw the launch of Derbyshire's three-year buy-to-let fix at 5.25%, which is the rate of the week. We also saw ...

  • MEX goes live with online valuation system

    3 Feb 2005

    Mortgage Express has turned to xit2 to provide them with a new online system to manage their external valuations.

  • MHO pioneers affordable mortgage model for Muslims

    1 Feb 2005

    Metropolitan Home Ownership has pioneered the first homebuying model to help Muslims access key worker and other forms of affordable home ownership.

  • Moneynet launches monthly mortgage borrowing bulletin

    3 Feb 2005

    Moneynet, a UK online financial data comparison service, has launched a monthly survey showing average property values and mortgage borrowing patterns nationwide. As of the end of January 2005, the overall UK average property value was 202,990, says Moneynet data. This compares to 190,231 at the same time in 2004, giving a 6.7% increase in the value of the average UK home.

  • Monty Burn: Let's pool brain power to solve FTB problem

    31 Jan 2005

    The market is depressed and we should not rely on government plans to boost the first-time buyer sector, despite the positive news that came out of the Office of the Deputy Prime Minister last Monday.The industry should pool its brain power and energy to make things happen without having to solely rely on any government department.Peter Bolton King, chief executive of the National Association of Estate Agents, says: "We've long been campaigning for the government to step in ...

  • Mortgage 2000 adds Rooftop to panel

    1 Feb 2005

    m2-d&p) the packaging arm of Mortgage 2000, has added Rooftop to its panel of lenders, bringing the total number of lenders to 21.Rooftop offers a range of adverse credit level mortgages with competitive rates for clients with impaired credit histories.To celebrate this arrival, m2-d&p isoffering all intermediaries a 270 refund on the valuation fee of all Rooftop products for a limited period only.Sean Hornsby, managing director of Mortgage 2000, says: "We are delighted ...

  • Mortgage Choice launches new generic application form

    3 Feb 2005

    Mortgage Choice has launched a new generic application form.

  • Mortgage Next launches flexible self-cert mortgages

    3 Feb 2005

    Mortgage Next has launched two flexible self-certification mortgages funded by The Mortgage Business.

  • Mortgage summit in Jerez this September

    31 Jan 2005

    Mortgage Strategy is delighted to announce an exciting event taking place in Jerez, southern Spain, for the industry's leading distributors.The Mortgage Summit will offer an invaluable insight into how business dynamics have changed nearly one year on from regulation, and provide the mortgage community with the opportunity to come together and share their experiences.The September summit will bring together senior level directors and executives from the top mortgage brokerages ...

  • Mortgage Times launches roadshow series

    1 Feb 2005

    The Mortgage Times Group has launched a eries of national roadshows.

  • MPLC overhauls its product range

    31 Jan 2005

    Mortgages plc has overhauled its product range in the company's first major strategic initiative since being bought by Merrill Lynch in November last year.The range was launched last week at a presentation at the Merrill Lynch Financial Centre in London.Products include a discount for one year with rates starting from 4.70%, and a three-year discount with stepped rates from 4.95%.It also offers a two-year fixed product with rates starting from 6.20%, and a three-year fix ...

  • MT launches product range

    1 Feb 2005

    Mortgage Trust has launched a new mortgage range.

  • MyMortgageDirect changes ownership

    31 Jan 2005

    MyMortgageDirect, the brokerage previously run by Peter Barrett, the new managing director of Charcol, has officially changed ownership.

  • NAEA launches high-level estate agency diplomas

    2 Feb 2005

    The National Association of Estate Agents has launched three high-level diplomas in estate agency.

  • Nationwide to charge 90 admin fee for redemptions

    3 Feb 2005

    From May 1 2005, Nationwide is introducing a fee of 90 to cover the administration costs associated with the redemption of a mortgage account.

  • Network data has been slow in responding to my concerns

    31 Jan 2005

    From George Henderson

  • Nick's notes

    31 Jan 2005

    The critical illness market has been going through a period of intense change in recent years. Premium rates have fluctuated dramatically and definitions have been changing, some categories even being removed from the cover. Some have been scared out of the market by the possibility of medical advances causing an increase in claims. For consumers, this has resulted in higher premiums and less choice.Against this background, the Association of British Insurers' critical illness working ...

  • NLA attends landlord open day in Cardiff

    4 Feb 2005

    The National Landlords Association attended an open day for landlords in Cardiff last Monday.

  • No problems with max 130

    31 Jan 2005

    Why all the furore over MEX's Max 130 deal when Northern Rock has been marketing this type of product under the Together banner for years?It's a great product with higher than average income multiples that gets people on the property ladder with repayments close to those they are used to in the rented sector. It also helps those leaving higher education restructure their debts and get a property.Let's grow up - these debts may be taken over the longer term initially but in reality ...

  • North fuelling equity release rise, says KRS

    31 Jan 2005

    Strong growth in demand for equity release in northern England helped drive the level of new plans taken out to record highs both in Q4 of 2004 and in the year as a whole, Key Retirement Solutions has revealed.The total value of plans taken out via Safe Home Income Plans members, who represent 90% of the market, and non-SHIP providers in the three months to December 31 2004 was 385m, up 3.5% on the 379m seen in Q3, which was the previous record.

  • Norwich Union top provider of lifetime mortgages

    2 Feb 2005

    Figures released by Safe Home Income Plans show Norwich Union as the UKs leading provider of lifetime mortgages, with a total market share for 2004 of more than 40%.

  • OFT action on mortgage firm's ads

    31 Jan 2005

    Regulatory action by the Office of Fair Trading has resulted in a crackdown on the marketing activities of a Bristol-based mortgage and secured loans specialist.Icon Finance of 44 Upper Belgrave Road was threatened with legal action after the OFT discovered the company was making false promises to consumers. Of particular concern was Icon's claim that it charged low arrangement fees capped at 1.5% of the value of a loan.In reality, this tariff applied only to a small proportion ...

  • On the beat

    31 Jan 2005

    One of the saddest and most unpleasant aspects of lending is the issue of arrears, leading in some cases to repossession. The recent initiative between GMAC-RFC and the Citizens Advice Bureau is both innovative and welcome.The parties are setting up a UK-based foundation to specialise in debt counselling for borrowers struggling to cope with mortgage repayments and repossession.This excellent initiative must be set against some bleak statistics. The CAB has seen a 76% increase ...

  • Packager policy welcomed

    31 Jan 2005

    The mortgage industry has welcomed Platform's decision to pay more to packagers who submit quality business.Platform made the decision at the beginning of November that it would split packagers into bands, paying more to those who have a higher conversion rate in terms of applications to offers.It looked at the performance of packaging firms over the previous 12 months and then decided how much to pay them. Brokers are unaffected by the scheme and still receive the same proc ...

  • Permission rule confusion

    31 Jan 2005

    Brokers have been left confused over whether they must ensure introducers have gained written permission from clients when referring business to them.The problem lies in apparently contradictory guidelines in a Financial Services Authority factsheet and the MCOB ruling on introducers. The factsheet stipulates conditions for unregulated firms, such as estate agents or builders, introducing clients to authorised advisers, but these do not include gaining written permission.However, ...

  • Pink launches branded lending deal with First National

    1 Feb 2005

    Pink Home Loans has launched a branded lending agreement with GE company First National.

  • Platform joins Network Datas panel of onsite lenders

    2 Feb 2005

    Platform is the latest lender to join Network Data growing panel of onsite lenders.

  • PMS' 2004 figures show business levels remained high

    31 Jan 2005

    Premier Mortgage Services has revealed the total business done by its club reached 27bn again last year, maintaining its 2003 levels.With 2004 figures from the Council of Mortgage Lenders showing total lending at 292bn, this means the Bankhall-owned club was involved in just under 10% of all mortgages transacted.Last year was a time of change for PMS. It was sold by Prudential to Bankhall in January and subsequently merged with its Point One club. Bankhall then bought the Norwich ...

  • Prescott SE housing plans under risk from flooding

    1 Feb 2005

    John Prescott's ambitious plans to build 200,000 affordable new homes in the South-East have been questioned since the news that at least 10,000 were athigh risk of flooding.

  • Prescott's building plans get lukewarm reception

    31 Jan 2005

    The government's plans to build more homes for first-time buyers have met with a lukewarm reaction, with the mortgage industry criticising it for ignoring Stamp Duty again.Deputy prime minister John Prescott last week unveiled initiatives to help people on low and middle incomes into home ownership over the next five years. The five-year plan, Homes for All, intends to help 80,000 people into home ownership by 2010, including an initiative to use publicly-owned land for new homes.The ...

  • Property buyers go back to basics

    1 Feb 2005

    Homeowners are abandoning the trappings of the rich and famous in favour of more sensible money-making schemes to add value to their homes, says The One account.

  • Propertyfinder.com and assertahome.com merge

    1 Feb 2005

    Two of the UK's largest property portals, propertyfinder.com and assertahome.com, are merging to create a single portal for independent agents, to rival sites owned by their corporate competitors.The new site will retain the propertyfinder.com brand name and at its relaunch, planned for March, will list over 170,000 properties, the vast majority from independent agents.Managing director Jim Buckle says: "propertyfinder has a great pedigree, a terrific brand, and is simply ...

  • Questions of mortgages and clarity

    31 Jan 2005

    This week I will look at some frequently asked questions and attempt to address areas where confusion has arisen. Here are some of the common queries that appear in my inbox:

  • Record equity release business in Q4 2004, reveals SHIP

    31 Jan 2005

    The 17 members of equity release trade body the Safe Home Income Plans group, have reported record quarterly new business figures for the three months to December 31 2004. The equity release trade body, whose members represent over 90% of the equity release sector, says the value of business written in Q4 was 350.2m, 3% higher than in Q3 2004, which saw the previous new business record of 338.4m.

  • Record mortgage lending for Portman in 2004

    1 Feb 2005

    Portman has revealed that 2004 was a record year for mortgage lending, shooting up by 24% to 3.5bn.

  • Replace FSA waste paper

    31 Jan 2005

    From John O'Hearne

  • Restricted choice is not better

    31 Jan 2005

    From Simon Frost

  • Retrospective checks still essential, says Callcredit

    2 Feb 2005

    Many companies have still to complete identity checks on existing customers, which they are required to do as part of anti-money laundering legislation, reports Leeds-based credit reference agency Callcredit.

  • Salans appoints operations manager

    2 Feb 2005

    Salans has appointed Danny Davies as operations manager.

  • Sandiford moves up HBOS ranks

    31 Jan 2005

    The halo effect of BM Solutions' success within HBOS continues with the promotion of head of product strategy Steve Sandiford to a more senior position with responsibility across the group.Sandiford has taken up the newly created role of head of HBOS commercial management, a strategic post encompassing the Halifax, Bank of Scotland, The Mortgage Business and Intelligent Finance brands as well as BMS.Sandiford says: "As part of my new job, I'll be helping to set and deliver the ...

  • Scottish Provident launches critical illness pack

    2 Feb 2005

    Scottish Provident has created a critical illness definition pack for intermediaries selling self-assurance.

  • Scottish Widows offers customers more choice

    2 Feb 2005

    Scottish Widows, the telephone-based mortgage and deposits bank, has extended the range of interest rate options available on its mortgages.

  • Skipton announces record profits of 97.7m for 2004

    1 Feb 2005

    Skipton's annual results for 2004 show record profits of 97.7m.

  • SmartNewHomes.com will pay a buyer's mortgage for a year

    1 Feb 2005

    SmartNewHomes.com is offering a years mortgage paid in full for one homebuyer who registers on the website and buys a property between February and September 2005. Entrants will have to complete a tie-breaker on why SmartNewHomes.com is the best way to search for a new property and the winner will be drawn on the September 30.

  • SMS announces application and valuation fee

    1 Feb 2005

    Solent Mortgage Services, the national branded lender and packager, has announced an 80 application/valuation fee on any product and on any value of property across the board for all cases received before February 28.

  • Some firms need a bad boss detox

    31 Jan 2005

    Geoffrey Dyckes, joint managing director at Global Financial, says it is vital to root out toxic managers and thus equally important to recognise what makes a good boss.

  • SPML appoints David Noseley as BDM for East Anglia

    4 Feb 2005

    Southern Pacific Mortgage has appointed David Noseley as business development manager for East Anglia and Lincolnshire.

  • SPML unveils redesigned website

    4 Feb 2005

    Southern Pacific Mortgage has redesigned and updated its website to offer a whole raft of added benefits for 2005.

  • Step up the pressure on Stamp Duty

    31 Jan 2005

    The industry was disappointed when deputy prime minister John Prescott failed to address the crucial issue of Stamp Duty last week as part of his speech on home ownership.But many believe the Labour party is planning to respond to calls to Step Up Stamp Duty and promise to raise the minimum 60,000 threshold as part of its election manifesto.Add your support and help pile on the pressure in the run-up to May 5. Send the coupon below to: Mortgage Strategy, 50 Poland St, London ...

  • Struggling FTBs - so what's new?

    31 Jan 2005

    Fresh thinking on the subject of how to encourage aspiring buyers back to the market could include measures such as a government-backed guaranteed loan scheme, says Richard Griffiths.

  • The cold facts on regulatory fees proposed charges for fee blocks

    31 Jan 2005

    The chilling reality of the FSA regime gripped brokers last week as CP05/2 indicated the likely costs intermediaries will have to pay for the privilege of being regulated, says Ben Stafford.

  • The Exchange adds lenders to equity release platform

    1 Feb 2005

    The Exchange has added GE Life, National Counties , Portman and Scottish Widows Bank to the equity release trading platform on its Exweb portal.

  • The Exchange intergrates services with Mint FS

    2 Feb 2005

    The Exchange has integrated its business services into Mint Financial Servicess bespoke back office business and administration system.

  • The Exchange intergrates with Intelliflo

    2 Feb 2005

    The Exchange has completed work with IntelliFlo, the fully independent supplier of enterprise technology to the financial services marketplace.

  • The mortgage mole

    31 Jan 2005

    Winnie the poo Mole's award for most unusual venue of 2005 so far goes to xit2, which hosted its annual lunch in the Cabinet War Rooms under the Treasury, from where Winston Churchill directed his WW2 campaign and broadcast some of his most famous speeches. One of his less well known utterances was revealed during the course of the afternoon. The great man, we were told, was ensconced in his lavatory one afternoon, no doubt cigar in hand, when one of his aides knocked on the door and ...

  • TMO closes network

    2 Feb 2005

    The Mortgage Operation has pulled out of the appointed representative business to focus on packaging.

  • Warning on cost of credit directive

    31 Jan 2005

    The European Consumer Credit Directive could cost the industry millions, warns the Association of Mortgage Intermediaries.The directive is still being drafted but as it stands it would have wide-ranging implications for the likes of second charge loans and offset mortgages.Chris Cummings, director of the Association of Mortgage Intermediaries, says: "If the directive was to be passed it would have a far wider impact than the FSA rules. We have a different system to Europe and ...

  • Website to help brokers arrange deals overseas

    31 Jan 2005

    A property website has been set up to help brokers cope with the burden of arranging overseas mortgages.Overseasproperty.co.uk has been set up by Jim Gillespie, who also works as a mortgage broker for Independent Financial Services.He says: "This is designed to help brokers who are too busy to get involved in arranging the mortgage. All the broker has to do is introduce the client to the service and we do the rest."We operate a strict no cross-selling policy but if the broker ...

  • What gives the fsa sleepless nights

    31 Jan 2005

    The FSA's Financial Risk Outlook details the risks it believes face consumers and the financial sector and provides a useful insight into the rationale behind its decisions, says Rachel Blackmore.

  • Wolves striker opens branch of Secure Mortgages

    3 Feb 2005

    Former Wolverhampton Wanderers striker Steve Bull has officially launched the new branch of Secure Mortgages at Queens Square.

  • Yorkshire launches web only fixed rate

    31 Jan 2005

    Yorkshire has launched a new fixed rate mortgage that is only available via its website.

  • Zodiac buy heralds c2 secured lending move

    31 Jan 2005

    Mortgage packager and distributor c2 financial has bought Zodiac Secured Loans for an undisclosed sum.The company says the move signals the launch of its secured lending offering to the broker market under the brand of c2 secured lending.David Wylie, managing director of c2, says: "We've been in negotiation with Zodiac since last summer. We've been running a pilot operation in partnership to confirm to ourselves it was the right company to acquire."c2 has been looking to ...

Poll

Do you recommend fast-track to customers?

Current Issue

Lending Zone
petitions
debate
Define Advice
Advanced search