Mortgage Strategy
4 August 2008

  • Long-term deals on the increase

    4 Aug 2008

    The proportion of long-term fixed rate mortgages has almost doubled in the past 12 months, MoneyExpert.com claims. The financial comparison website says the percentage of 10-year fixed rate deals or longer has risen from 8 percent of all products in July 2007 to 15 percent in the same period this year.

  • Abbey and HBOS slug it out

    4 Aug 2008

    Abbey and HBOS are battling it out for the title of the UK's biggest mortgage lender as both lay claim to having the leading market share.

  • Abbey beefs up large loans range

    4 Aug 2008

    Abbey has enhanced its large loans range with the launch of two products after rivals strengthened their super-size offerings.

  • Abbey slashes fixed and tracker rates by up to 0.1%

    6 Aug 2008

    Abbey has reduced the rates on some of its two and three-year fixed rate and tracker deals by up to 0.1%.

  • Accord launches two-year fix

    4 Aug 2008

    Accord Mortgages has launched a two-year fixed rate mortgage at 5.49 percent up to 60 percent LTV. Fixed until September 30 2010, the product features a 2.5 percent fee and a 4 percent early repayment charge. The fee can be added to the loan amount. Overpayments of up to 10 percent a year are allowed.

  • Advice is crucial as house prices fall

    4 Aug 2008

    With many market commentators experts making gloomy predictions about house prices brokers are well placed to help nervous borrowers make the right decisions, says Mark Harris

  • Aegon joins Paradigm panel

    4 Aug 2008

    Aegon Scottish Equitable has joined Paradigm Mortgage Services' preferred protection panel, giving its brokers access to a range of protection products.

  • AFB calls for feedback on OFT paper

    7 Aug 2008

    The Association of Finance Brokers is calling for feedback from its members on the Office of Fair Trading’s consultation paper on irresponsible lending.

  • AHIPP rejects code of conduct criticism

    4 Aug 2008

    The Association of Home Information Pack Providers has rejected Easier2Move's suggestion that its code of conduct does not go far enough because it doesn't ensure members guarantee the accuracy of their reports.

  • AMI backs FSA's call to lenders

    5 Aug 2008

    The Association of Mortgage Intermediaries is supporting the Financial Services Authority in asking lenders to work with brokers to help struggling borrowers.

  • Angelo Rising

    4 Aug 2008

    From humble origins Angelo Mozilo rose to become the king of the US mortgage industry. In this exclusive extract from chapter 5 of Chain of Blame, Paul Muolo and Mathew Padilla chart the rise and fall of Countrywide’s boss.

  • Appointments at Coventry

    4 Aug 2008

    Coventry has appointed two non-executive directors. Roger Burnell, former chief operating officer of the Thomson Travel Group, and Ian Geden, group chief executive of NFU Mutual, will start on September 1.

  • AToM joins forces with Money Partners

    5 Aug 2008

    Mortgage packager and distributor All Types of Mortgages is launching its official partnership with specialist lender Money Partners.

  • AToM links up with Money Partners

    5 Aug 2008

    All Types of Mortgages has partnered with specialist lender, Money Partners.

  • Average age of FTB rises, says Mform.co.uk

    5 Aug 2008

    The average age of first-time buyers has risen with those under 30 accounting for only 34%, down from 50% in 2007, reveals research from Mform.co.uk.

  • Average house prices fall 1.7% in July

    7 Aug 2008

    House prices fell 1.7% in July, decreasing at a lower rate than the falls of 1.9% in June and 2.5% in May, says the latest Halifax House Price Index.

  • Balance sheets hold key to recovery

    4 Aug 2008

    The past few weeks have seen a notable shift in sentiment and - dare I say it - the phrase 'bottom of the market' has increasingly been heard from the great and good.

  • Ban this filth

    4 Aug 2008

    The bad old days of the financial services industry's demeaning portrayal of women - previously the cornerstone of advertising in the sector - are officially a thing of the past.

  • Bank of England base rate held

    8 Aug 2008

    It's rare for there to be such uncertainty about the outcome of a Monetary Policy Committee meeting as there has been with this one - it could, in theory, have gone either way.

  • Barclays reports 26% share of net new lending

    7 Aug 2008

    Barclays says it has achieved a market-leading share of net new mortgage business for the first half of 2008, despite a 33% drop in pre-tax profits to £2.75bn.

  • Base rate held at 5%

    7 Aug 2008

  • Blemain overhauls product range

    4 Aug 2008

    The Blemain Group has revamped its product range, increasing LTVs by 5%, and scrapping broker commission for the net loan on its secured loan range.

  • Brilliant Loans launches into debt management

    4 Aug 2008

    Brilliant Loans, the secured loans subsidiary of Exclusive Connections, is launching into debt management.

  • British Insurance launches shared ownership MPPI

    5 Aug 2008

    British Insurance has rolled out mortgage payment protection insurance for jointly-owned homes.

  • Brokers look ahead with confidence

    4 Aug 2008

    Feedback from our round table events shows that although brokers feel bruised by dual pricing they are proactively looking at new ways to replace lost income, says Sally Laker

  • Brokers need help, not campaigns

    4 Aug 2008

    Networks should give up their fruitless campaign against dual pricing and instead focus on helping members adapt to life in the new mortgage landscape, says Gemma Harle

  • Brokers savvy enough to survive, says L&G

    4 Aug 2008

    Legal & General Mortgage Club has sought to offer brokers causes for optimism after damning statements by Sir James Crosby in his interim report last week.

  • Brokers urged to spread word about protection

    4 Aug 2008

    Brokers must ensure clients are protected against the effects of an uncertain economy, Paymentshield says.

  • BSA reveals net lending plunge

    4 Aug 2008

    The Building Societies Association last week revealed a near 5bn drop in net lending by members in the first half of 2008. The BSA says net lending for societies was down from 8.43bn in the first six months of 2007 to 3.45bn in the equivalent period this year. Gross lending also fell from 4.65bn in 2007 to 2.98bn in 2008.

  • Business confidence falls in every UK region

    4 Aug 2008

    Business confidence is falling across the country as cost pressures remain intense and with activity in the manufacturing sector expected to slow, the latest survey from the Confederation of British Industry and Experian reveals.

  • Business confidence slumps across the country

    4 Aug 2008

  • Business Finance re-enters market

    4 Aug 2008

    Business Finance UK has re-entered the commercial market. It was active in the sector several years ago but has now appointed Commercial Mortgage Solutions to run its sales processing centre and provide exclusive distribution for its lending. Richard Gardner, chairman of Business Finance, says: "The timing of our entry into commercial lending has always been of paramount importance to us. We did not want to compete with high volume lenders."

  • Call for clarity on sales and advice

    4 Aug 2008

    The Association of Independent Financial Advisers has called on the government and the Financial Services Authority to make the differences between sales and advice clearer to consumers.

  • Calls to tackle crunch now

    4 Aug 2008

    The latest drop in house prices reported by the Land Registry has fuelled further calls for immediate action to resurrect the lending market.

  • Cambridge launches pair of fixed rates

    4 Aug 2008

    Cambridge has added to its mortgage range with the launch of two fixed rate mortgages.

  • CEBR sees completions plunge 20% in 2008

    4 Aug 2008

    The Centre for Economics and Business Research is predicting housing completions in the UK will plummet 20% in 2008 leaving housing targets unmet for the next five years.

  • CML data reveals 18,900 repossessions this year

    8 Aug 2008

    There were 18,900 cases where lenders took possession of property in the first half of 2008, data from the Council of Mortgage Lenders reveals.

  • CML forecasts 45,000 possessions by the end of the year

    8 Aug 2008

    The Council of Mortgage Lenders is maintaining its forecast of 45,000 total possessions and 170,000 mortgages in arrears of more than three months by the end of the year.

  • CML responds to FSA arrears findings

    5 Aug 2008

    The Council of Mortgage Lenders welcomes the FSA’s confirmation today that mainstream lenders are largely complying with its arrears and repossessions requirements.

  • Complete keeps post on Platform packager panel

    4 Aug 2008

    Complete Mortgage and Loan Services has survived the cull at Platform and kept its place on the lender’s packager panel.

  • Complete remains on Kensington panel

    6 Aug 2008

    Complete Mortgage and Loan Services has been retained as one of the packagers on Kensington’s panel.

  • Complete sees 43% increase in online DIPs

    8 Aug 2008

    Complete Mortgage and Loan Services, has experienced a 43% monthly increase in online DIPs in July, exceeding all previous monthly totals since the service was launched earlier this year.

  • Councils named and shamed for slow searches

    5 Aug 2008

    The 10 slowest councils for search turnaround times have been named and shamed in a table published by LMS.

  • Coventry cuts offset rates

    4 Aug 2008

    Coventry has cut its offset rates by up to 0.3 percent. New products in its range include a 6.39 percent Flexx for Term deal with no early repayment charges.

  • Criminal checks for brokers mooted

    4 Aug 2008

    Compliance expert Gary Dixon is calling on the Financial Services Auth- ority to make mortgage brokers subject to criminal record checks.

  • Crosby Review

    4 Aug 2008

    So Sir James Crosby has presented his Interim Report to the chancellor.

  • Cutting Stamp Duty will make matters worse, warns Cable

    5 Aug 2008

    Vince Cable, Liberal Democrat shadow chancellor, has accused the government of trying to bribe people into buying houses, by proposing to cut Stamp Duty cut.

  • Debt firm expects record enquiries

    4 Aug 2008

    Business Debtline is expecting record numbers of enquiries for debt advice this year from small firms and the self-employed who face trading in a recession for the first time

  • Demand grows by over 25% at LeadPoint

    6 Aug 2008

    LeadPoint has seen demand for leads grow by over 25% between June and July.

  • Direct FS maintained by lenders

    7 Aug 2008

    Mortgage packager Direct Financial Services has remained on all lender panels, following recent distribution cuts by Kensington, Platform, Money Partners and Mortgage Express.

  • Direct FS remains strong despite packager cuts

    7 Aug 2008

    Mortgage packager Direct Financial Services has remained on all lender panels, following recent distribution cuts by Kensington, Platform, Money Partners and Mortgage Express.

  • Do something but don’t leave it to the government

    5 Aug 2008

    I have been amazed by the hostility to the Crosby report both in the tabloids and the broadsheets.

  • Doesn't stand up

    4 Aug 2008

    There can't be many perks working for the Office of Fair Trading, what with its investigations into serious subjects such as payment protection insurance.

  • Easier2Move launches landlord EPC service

    5 Aug 2008

    Online conveyancer Easier2Move is now launching Easier2Let, an Energy Performance Certificate service for landlords.

  • EC needs to give permission for NR debt swap

    6 Aug 2008

    The European Commission will need to give permission to Northern Rock's plan to swap £3bn in its outstanding debt to the Bank of England for equity.

  • Em- offers free valuations up to £1m

    6 Aug 2008

    Packager em-financial is offering brokers free valuations up to £1m on remortgages in England and Wales with immediate effect.

  • Enter the PR

    4 Aug 2008

    Mole was intrigued to hear last week that Abbey PR David Stewart is actually the reincarnation of Bruce Lee.

  • Fannie Mae unveils net losses of £1.15bn

    8 Aug 2008

    US mortgage and housing association Fannie Mae has reported a net loss of $2.3bn (£1.15bn).

  • Fine shows PPI still mis-sold, says Which??

    4 Aug 2008

    The Financial Services Authority's £840,000 fine of Liverpool Victoria Banking Services for payment protection insurance failings shows the product is still being mis-sold, Which? claims.

  • Firms expect sales to drop 6 percent in 12 months

    4 Aug 2008

    Every broker out of the 505 polled by the Intermediary Mortgage Lenders Association expect their mortgage sales volumes will fall by at least 6 percent in the next 12 months.

  • First Active unveils fix

    4 Aug 2008

    First Active has launched a two-year 6.79 percent fixed rate with no arrangement fee.

  • First LMS Ramsay winners revealed

    4 Aug 2008

    The winners of Mortgage Strategy Chef’s Table lunch at Gordon Ramsay’sClaridge’s restaurant have been decided.

  • FirstPlus cheques cancelled

    4 Aug 2008

    Barclays has cancelled all FirstPlus cheques issued between July 14 and 18 because of a system error. FirstPlus, which recently announced it would be closing, says the wrong details may have been entered on cheques issued on these dates. As a precaution, the secured loans lender has cancelled the affected cheques and new ones have been issued. One broker, who has not been able to get in touch with FirstPlus, says: "It says it is experiencing a backlog in its underwriting department ...

  • FirstPlus reconfirms cut off date

    4 Aug 2008

    FirstPlus has reconfirmed that the last day for new applications will be 8 August, 2008.

  • Freshen up your approach to business

    4 Aug 2008

    I am writing this column sitting beside a swimming pool, admiring the beautiful Tuscan countryside. Yes, it's holiday time and like many in- dividuals in the financial services sector I felt the need to recharge my batteries this year.

  • FSA bans broker for £589,000 deception

    5 Aug 2008

    The Financial Services Authority has banned a broker from advising and arranging on mortgages and investments after he pleaded guilty to four counts of obtaining money transfers by deception.

  • FSA concludes investigation into HBOS

    4 Aug 2008

    The Financial Services Authority has concluded its investigation into the rumours in March which claimed there was a liquidity issue at HBOS.

  • FSA refers seven mortgage brokers to enforcement

    5 Aug 2008

    Seven small mortgage advisors have been referred to enforcement and a further 23 required to review customer files, as part of the Financial Services Authority's review into mortgage advice.

  • FSA warning to specialist lenders over arrears

    5 Aug 2008

    The Financial Services Authority has warned specialist lenders that it has a raft of concerns over their approach to arrears and repossessions practices.

  • FTBs pessimistic about future

    4 Aug 2008

    Buying houses on the open market will soon be a thing of the past for most first-time buyers, research by housing association East Homes claims. It says nearly three-quarters of 16 to 34 year olds polled in its annual My Home survey think New Build HomeBuy will soon be their only viable option.

  • GHL Group revamps overseas offering

    8 Aug 2008

    GHL Group has relaunched its overseas proposition to include Conti Financial Services and Viva Costa International.

  • Glimmers of light in the market gloom

    4 Aug 2008

    The past couple of weeks brought another glut of news relating to the mortgage market as the credit crunch maintained its dominance of the news pages. But there was a different feel to some of the coverage.

  • Good news at last

    8 Aug 2008

    After all the hype and rumours, the wait was over this week, as Link Loans finally launched into the market.

  • Good news for B2L as yields hold up

    4 Aug 2008

    Paragon Mortgages says rental yields held at 6.4 percent in June for the second month running, giving landlords further cause for optimism.

  • Good news for Just Retirement

    4 Aug 2008

    Just Retirement has seen a 27 percent rise in equity release advances in the first half of 2008, increasing its six-month total from £125.2m to £159m year-on-year. Sales rose 12.8 percent to £763.5m year-on-year.

  • Government can't afford to wait until autumn

    4 Aug 2008

    The mortgage industry is lobbying the government to launch urgent action to tackle lenders' crippling funding problems in the wake of Sir James Crosby's interim report.

  • Government can't guide UK through credit crisis, says Pink broker poll

    5 Aug 2008

    A recent poll conducted by Pink Home Loans reveals 76% of brokers have no faith in the government's ability to get the UK through the credit crisis.

  • Gross underlying profit falls at Friends Provident

    7 Aug 2008

    Friends Provident has revealed its gross underlying pre-tax profit has fallen to £211m for the first six months of this year, compared to £264m for the same period last year.

  • Guarding against affordability claims

    4 Aug 2008

    Readers of the Financial Services Compensation Scheme's annual report will probably be as surprised as me to learn that endowment claims still make up the largest percentage of new claims. These products were sold at least a decade ago and are still haunting us.

  • Happy Birthday Dear Credit Crunch

    5 Aug 2008

    Ah, where does the time go? It only seems a matter of a few weeks ago that we were all looking at how much we could sell our properties for and stretch just that little bit to get our dream house with a nice cheap mortgage.

  • HML appoints sales development manager

    6 Aug 2008

    Stephen Schofield has joined HML as sales development manager, and will work at establishing dialogue with lenders within the UK mortgage market.

  • Hodge sounds warning of ERC threat to sector

    4 Aug 2008

    Hodge Equity Release has warned of the threat that early repayment char-ges pose to the sector if brokers do not consider them when advising clients.

  • House prices tumble by 1.7% in July

    7 Aug 2008

    House prices fell 1.7% in July, decreasing at a lower rate than the falls of 1.9% in June and 2.5% in May, says the latest Halifax House Price Index.

  • HSBC shares LIBOR benefits

    4 Aug 2008

    HSBC will pass on the benefits of lower funding costs to clients by cutting rates and fees on fixed products. Standard two-year fixed rate deals will drop by 0.31 percent, with booking fees falling from £799 to £599. Longer fixed rate deals will drop by 0.16 percent, with booking fees cut to £599.

  • HSBC's pre-tax profit falls £1.98bn

    4 Aug 2008

    HSBC has revealed its pre-tax profits for the first half of 2008 have plunged £1.98bn to £5.23bn, compared to the first half of 2007.

  • Intermediaries flock to Mortgage Brain's Key

    4 Aug 2008

    Mortgage Brain has revealed that more than 4,000 intermediaries now use its Key system.

  • IOSCO reviews compliance with code

    4 Aug 2008

    The International Organisation of Securities Commissions has started to review credit ratings agencies' compliance with its newly published code of conduct.

  • IVA firm signs deal with DMS

    4 Aug 2008

    TCF Debt Solutions has signed an agreement with protection network DMS. The network provides advice on protection products including accident, sickness and unemployment insurance. Under the agreement, DMS will refer indebted clients to the debt management and IVA specialist.

  • Jannels retires as chair of PMPA

    5 Aug 2008

    Vic Jannels is stepping down as chairman of The Professional Mortgage Packagers Alliance.

  • Join the club

    4 Aug 2008

    Industry expert Ray Boulger's Facebook fan club has hit the heady heights of 88 members.

  • Kensington cuts packager panel

    5 Aug 2008

    Kensington is slashing its packager panel by over 50% from September 1.

  • Kensington slashes packager panel by 50%

    4 Aug 2008

    Kensington is slashing its packager panel by over 50% from September 1.

  • Kevin Carr to join Pru Protect

    5 Aug 2008

    Following eight successful years with LifeSearch Kevin Carr is to join Pru Protect as director of protection development.

  • L&E launches web-based conveyancing system

    4 Aug 2008

    London & European is launching a web-based conveyancing system to brokers that promises to cut offer and completion times by 70%.

  • L&G club offers two-year tracker

    4 Aug 2008

    Legal & General Mortgage Club is launching an exclusive two-year tracker at 5.99 percent from Scottish Widows Bank. It offers a free offset facility with a £999 arrangement fee. Remortgage clients will receive either a remortgage package or cashback.

  • L&G on Paradigm protection panels

    4 Aug 2008

    Legal & General has been added to Paradigm Mortgage Services' preferred and limited protection panels. L&G's products include mortgage term assurance and mortgage payment protection insurance.Brokers can quote and apply online using L&G's online protection system, as well as gain access to supporting documents such as sales aids, technical guides and underwriting questionnaires.

  • Landlords put off rent-back by bad press

    4 Aug 2008

    The Money Centre says landlords are running scared of sale-and-rent-back as a result of the bad press the market has attracted.

  • Large loan mortgages are back!

    4 Aug 2008

    It is interesting speaking to friends and people outside of the mortgage industry who still believe it is impossible to get mortgages.

  • Law firms shape up poorly compared with brokers

    4 Aug 2008

    I was surprised by Paul Marsh's holier than thou stance when comparing brokers with solicitors (Mortgage Strategy July 28).

  • Leadpoint sees 25% increase in demand for leads

    6 Aug 2008

    Leadpoint is trading over 2,000 leads a day following the demand for leads soaring by more than 25% over June and July.

  • Lee Birkett payment fuels discontent at Prestbury

    4 Aug 2008

    A £224,000 payment recei-ved by chief executive Lee Birkett is at the heart of the controversy surrounding Prestbury, as shareholders push for the removal of Lee and his mother Lynne as directors of the company.

  • Lifetime interest on the up

    4 Aug 2008

    Research by Mortgage Express has re-vealed an increase in lifetime mortgage enquiries to brokers since July 2007.

  • Link joins bridging packager panel

    4 Aug 2008

    Link Lending has joined Portfield's lending panel. The bridging packager says it has added Link to introduce more brokers to the benefits of bridging finance. The firm charges no fees and has no minimum terms. Mark Stringer, managing director of Portfield, says: "We want everyone to be able to benefit from our relationship with Link. Our 'Use the Expert' service option will allow every broker the opportunity to offer bridging finance to their clients, regardless of their knowledge or ...

  • Link Lending appoints risk underwriter

    5 Aug 2008

    Short term/ bridging lender, Link Lending, has appointed Colin Moth as risk underwriter.

  • Link Lending appoints risk underwriter

    5 Aug 2008

    Bridging lender, Link Lending, has appointed Colin Moth as risk underwriter and will report to Matt Smith, head of underwriting.

  • Link Lending launches into secured loans

    6 Aug 2008

    Short term lender, Link Lending, has launched its secured loan products via a limited panel of distributors through its new brand Link Loans today.

  • Link Lending moves into secured loans

    6 Aug 2008

    Short term lender, Link Lending, has launched its secured loan products via a limited panel of distributors through its new brand Link Loans today.

  • Lloyds TSB sees further falls in consumer confidence

    4 Aug 2008

    The Lloyds TSB consumer confidence barometer suggests Britons are growing more uncertain of their job stability.

  • LoanCheck calls for FSA to get tough on miss-selling of PPI

    7 Aug 2008

    LoanCheck has called on the Financial Services Authority to come down hard on firms miss-selling Payment Protection Insurance. The FSA rrecently fined Liverpool Victoria Banking Services £840,000 for "serious failings" in the sale of PPI.

  • Loans etc offers free packaging on Link Loans range

    6 Aug 2008

    Following the launch of Link Loans secured loan products today, loans etc, one of the initial batch of approved distributors for the products is offering free packaging on all cases completed throughout August, September and October.

  • Loans Warehouse launches with Link Loans

    8 Aug 2008

    Secured loan master broker, Loans Warehouse has launched with Link Loans today.

  • London over worst of crunch, says haart

    5 Aug 2008

    Haart estate agents says the London market has slipped into a recovery pattern following a house price drop of just 0.2% last month.

  • Losing the plot in Hector's last act

    4 Aug 2008

    OK, I admit the headline of this piece is slightly misleading. Hector Sants, chief executive of the Financial Services Authority, hasn't resigned and paddled off into the North Sea in a canoe. And even if he had he'd probably be wearing two life jackets and a rubber ring.

  • Mal McConechy to leave Home of Choice

    5 Aug 2008

    Mal McConechy, is to leave network Home of Choice, by mutual agreement at the end of July.

  • Manor valuation offer with B&W

    4 Aug 2008

    Manor Mortgages has launched a valuation and remortgage legals deal with Bristol & West. For B&W's fast-track 6.15 percent discount and 6.45 percent fixed rate products, Manor is offering a reduced valuation fee of £199 together with remortgage legals for the same amount.

  • Marathon Money

    4 Aug 2008

    Mortgage Strategy brings you a rundown of the industry figures putting their bodies on the line in Septembers Berlin Marathon to raise money for charity

  • Market watch 04 August 2008

    4 Aug 2008

    Swaps fell significantly last week. They are back down to where they were a couple of months ago and are getting close to their average levels over the past two years. Let's hope the trend continues as lenders are passing these cuts onto fixed rate borrowers.

  • Merrill to boost balance sheet

    4 Aug 2008

    Merrill Lynch has revealed plans to bolster its balance sheet by raising 4.27bn and selling 5.6bn worth of mortgage-backed securities. The group says it expects to record a 2.2bn write-down in Q3 2008.

  • MI makes 18 redundancies

    4 Aug 2008

    Mortgage Intelligence has made 18 redundancies. Sally Laker, managing director of MI, announced the cuts on Friday but pledged to maintain service levels. She says: “This decision is regrettable but we are not immune to the difficult conditions in the mortgage industry and must adapt. We will continue to maintain the high service and compliance standards our brokers know us for and our financial stability will allow us to weather this economic storm.”

  • Money Advice Trust resource is not aimed at consumers

    4 Aug 2008

    I read with interest Mike Culhane's recent analysis piece entitled 'It's all about quality advice not quantity' (Mortgage Strategy July 21).

  • Money Partners adds TFC Homeloans to panel

    4 Aug 2008

    Money Partners have added TFC Homeloans to its packager panel.

  • Mortgage clubs offer DA firms help but allow them to keep their independence

    4 Aug 2008

    It's good to see that some things don't change. The start of each quarter always brings Richard Griffiths' appointed representatives league table and with it the normal AR/DA smokescreen (Mortgage Strategy July 14). The comments in the news pages made interesting reading - directly authorised firms are apparently not receiving any guidance, advice or leadership from mortgage clubs.

  • Mortgage fraud cases are spiralling

    4 Aug 2008

    Just nine cases of mortgage fraud in the first half of 2008 cost a staggering 20m, research by KPMG reveals.

  • Mortgage Intelligence makes redundancies

    4 Aug 2008

    Mortgage Intelligence has made 18 staff redundant in response to market pressures.Sally Laker, managing director of Mortgage Intelligence, says: “This decision is regrettable, but we are not immune to the difficult conditions in the mortgage industry and we must adapt accordingly. "We will of course continue to maintain the high level of service and compliance standards our brokers know us for and our financial stability will allow us to weather this storm.”

  • MPC holds base rate at 5%

    7 Aug 2008

    The Monetary Policy Committee has held base rate at 5% today.

  • MPPI sales robust despite negative media coverage

    6 Aug 2008

    Almost two thirds of brokers have reported that the ongoing regulatory investigations into PPI by the FSA and Competition Commission have not had a negative impact on selling MPPI.

  • MSN marketer takes on Propertyfinder role

    4 Aug 2008

    Propertyfinder.com has hired former MSN marketing director Natalie Mead to head up its revamped marketing office.

  • Mutual's BDMs must fight our corner

    4 Aug 2008

    Nationwide has introduced a number of BDMs to foster its relationships with brokers but they must be more feisty and look out for our interests if they want our business, says Sue Read

  • Nearly 50% of NR loan book facing negative equity, report claims

    4 Aug 2008

    As much as 45% of Northern Rock's loan book could be in negative equity by Q4 2009, a Daily Telegraph report has claimed.

  • Negative coverage of PPI not slowing down MPPI sales

    6 Aug 2008

    Almost two thirds of brokers say the regulatory investigations into Payment Protection Insurance by the FSA and Competition Commission have not had a negative impact on selling Mortgage Payment Protection Insurance,says The Mortgage Alliance’s.

  • New low for client confidence

    4 Aug 2008

    Consumer research group GfK NOP has reported the lowest levels of consumer confidence since it began surveying the subject in 1974. Confidence is at -39, a 33 point drop compared with this time last year. Donna Culverwell, member of the consumer confidence team at GfK, says: "At -39, this is four points lower than in March 1990 when the UK was heading into its last recession."

  • Newcastle option for NR staff

    4 Aug 2008

    Newcastle says its recruitment drive could help some of the 1,300 Northern Rock employees facing redundancy.

  • NHF makes dire prediction for FTBs

    4 Aug 2008

    The National Housing Federation predicts first-time buyers will remain locked out of the property market until 2013.

  • NLA calls for feedback on its sale-and-rent-back code

    5 Aug 2008

  • NLA launches sale-and-rent-back code consultation

    4 Aug 2008

    The National Landlords Association is calling for input on its draft code of practice for landlords involved in the sale-and-rent-back market.

  • No evidence of HBOS conspiracy

    4 Aug 2008

    The Financial Services Authority has found no evidence of claims that HBOS was the victim of a conspiracy to spread false rumours of a funding crisis in March.

  • Northern Rock reports losses of £585.4m

    5 Aug 2008

    Northern Rock has reported losses of £585.4m for the first six months of the year in its results today.

  • Northern Rock reveals £585.4m losses for H1

    5 Aug 2008

    Northern Rock has revealed half-year losses of £585.4m in an interim statement this morning.

  • Norwich Union revamps lifetime products

    4 Aug 2008

    Norwich Union has made improvements to its lifetime mortgage equity release proposition

  • NR's top priority should be to pay back the Treasury

    4 Aug 2008

    It's disgraceful that Northern Rock is being allowed to tout for new business at taxpayers' expense as well as that of borrowers who can't leave it because of tough criteria.

  • OFT consultation on lending study

    4 Aug 2008

    The Office of Fair Trading has launched a public consultation on the scope of its investigation into irresponsible lending in the consumer credit markets. The study will consider all forms of consumer credit lending which the OFT licences and participants in the market including lenders, brokers and other intermediaries.

  • OFT launches investigation into irresponsible lending

    4 Aug 2008

    The Office of Fair Trading has launched an investigation into irresponsible lending in the consumer credit markets.

  • Packagers retained by Kensington

    7 Aug 2008

    Kensington will cut its packager panel by over 50% from September 1.

  • Pain to take FSA retail reins

    4 Aug 2008

    The Financial Services Authority's new retail markets chief will be given a mandate to regulate all mortgage lenders, intermediaries and insurance firms.

  • Pension schemes plunge to £41bn deficit

    6 Aug 2008

    Pension schemes from major providers plunged into a £41bn net deficit in July, says a report from actuarial consultants Lane Clark & Peacock LLP.

  • Persimmon and Halifax launch first-time buyer initiative

    6 Aug 2008

    Housebuilder, Persimmon Homes, and the UK’s largest mortgage lender, Halifax, have teamed up to offer first-time buyers a helping hand with a brand new initiative.

  • Persimmon and Halifax offer FTB lifeline

    6 Aug 2008

    House builder Persimmon Homes and Halifax are giving first time buyers the opportunity to double their savings to use as a deposit on a first home.

  • Pink AR seminars kick off this month

    4 Aug 2008

    Pink Home Loans has unveiled details of its forthcoming appointed representative seminars. The events will kick off across the country on August 27 and will cover subjects under the theme New for 2008. Pink will be visiting ARs in London, Surrey, Glasgow and Solihull among others. Abbey, BM Solutions and eConveyancer will make presentations. Neil Hoare, associate director of marketing and IT at Pink, says the seminars will offer networking opportunities.

  • Pink links up with trio for bridging

    4 Aug 2008

    Pink Home Loans has teamed up with three lenders to launch its bridging finance proposition. Pink is offering products through Affirmative, Cheval and Lowry Capital.

  • Pink offers free valuations on Platform cases

    4 Aug 2008

    Pink Home Loans has launched a new valuation fee incentive in association with Platform, the intermediary lender of Britannia.

  • Pink offers free valuations on Platform range

    4 Aug 2008

    Pink Home Loans is offering brokers free valuations on all Platform mortgage deals.

  • Pink offers semi-exclusive through Abbey

    7 Aug 2008

    Pink Home Loans is offering a semi-exclusive residential fixed rate product funded by Abbey for Intermediaries.

  • Pink slashes processing times by half

    4 Aug 2008

    Pink Home Loans has cut processing times for applications by half after working closely with GE Money Home Lending to improve efficiency.

  • Platform slashes packager panel from 50 to 16

    4 Aug 2008

    Platform has shed more than half its packager panel, joining the growing list of lenders that have slashed distribution in 2008.

  • PM considering scrapping Stamp Duty

    5 Aug 2008

    Prime Minister Gordon Brown is thought to be considering temporarily scrapping Stamp Duty in a bid to help the housing market and restore faith in the economy.

  • Prices plunge at auctions by almost one fifth

    7 Aug 2008

    The average price of a house sold at auction, has fallen by almost one fifth since 2007, the Liberal Democrats warned today.

  • Promise Homepacks sees 35% increase in consumer demand for HIPs

    4 Aug 2008

    Promise Homepacks has seen a 35% increase in demand for its No Sale No Fee Home Information Packs over the past 48 hours.

  • RBS reports pre-tax loss of £691m

    8 Aug 2008

    Royal Bank of Scotland has reported a pre-tax loss of £691m for the first half of 2008, a fall widely reported as the second-biggest loss in UK banking history.

  • RBS reveals £691m loss

    8 Aug 2008

    Royal Bank of Scotland has reported a pre-tax loss of £691m for the first half of 2008, a fall widely reported as the second-biggest loss in UK banking history.

  • RBS tipped to write-down £1.2bn for H1 2008

    4 Aug 2008

    Royal Bank of Scotland is tipped to reveal the most extensive losses in UK banking history on Friday when it reveals H1 write-downs of around £1.2bn.

  • Recession under scrutiny in latest MS Podcast

    4 Aug 2008

    The sticky subject of recession comes under the spotlight in the latest Mortgage Strategy Podcast.

  • S&P says prices will fall 17 percent

    4 Aug 2008

    Economists at Standard & Poor's predict that UK house prices will fall a further 17 percent before flattening out in 2009.

  • Seven mortgage advisers referred to enforcement

    5 Aug 2008

    Seven mortgage advisers have been referred to enforcement and a further 23 have been asked to review customer files, as part of the Financial Services Authority's review into treating customers fairly.

  • Shadow MPC

    4 Aug 2008

    Although the mortgage market could do with a fillip, inflation remains too high for a base rate cut so Mortgage Strategy’s GE Money Home Lending Shadow Monetary Policy Committee is unanimous in its decision to hold the rate this month.

  • Shape up to new market or ship out

    4 Aug 2008

    Kevin Paterson takes a weekly peek at the latest developments in the market and brings you whats hot and whats not in the world of mortgages

  • Simon Baker leaves Leadbay

    4 Aug 2008

    Leadbay's commercial manager Simon Baker has left the lead generation firm with immediate effect to take up a management role within the MoneyExpert group.

  • Simon Baker leaves Leadbay

    6 Aug 2008

    Simon Baker has left Leadbay to join the MoneyExpert group in a management role.

  • Sir James knows that brokers matter

    4 Aug 2008

    You know it. Mortgage Strategy knows it. Sir James Crosby knows it. And now, old panda chops in the Treasury and Gordon Brown must know it too.

  • SMS Devon office faces job cuts

    4 Aug 2008

    Solent Mortgage Services has confirmed it is in redundancy consultation with staff at its Devon office. Paul Robinson, director of SMS, says: With the market not improving we have had to look at our cost base again and as a result have entered into consultation with staff at our South- West office. Until the consultation ends we are unable to comment further on the outcome.

  • Software provider joins AIFA

    5 Aug 2008

    The Association of Independent Financial Advisers has revealed that Logic 100 has become an affiliate member.

  • Solicitors and brokers must work together to fight fraud

    4 Aug 2008

    I refer to the letter from the Law Society in last week's issue of Mortgage Strategy.

  • Stability the watchword for Skipton this year

    4 Aug 2008

    Skipton's outgoing chief executive says 2008 has been more about stability than profitability after the mutual's results revealed falling profits in the first half of 2008.

  • Stamp Duty could go under PM's economic plan

    5 Aug 2008

    Prime Minister Gordon Brown is thought to be considering temporarily scrapping Stamp Duty in a bid to help the housing market and restore faith in the economy.

  • Stroud & Swindon confirms launch of online intermediary lender

    5 Aug 2008

    Stroud & Swindon has confirmed it will be launching a 100% online broker-facing lending arm.

  • Super-prime could be next on the list

    4 Aug 2008

    Even seemingly recession-proof parts of London are witnessing falling house prices. Super-prime locations such as Mayfair have avoided the drop but how long will it last, asks Simon White

  • Survey reveals brokers' bleak forecasts

    7 Aug 2008

    A survey from specialist lender CHL Mortgages reveals increasing levels of pessimism among brokers about the level of business they expect to conduct this year.

  • SYH warns against rent-back incentive

    4 Aug 2008

    SYH Charterhouse is warning brokers against taking part in a sale-and-rent-back scheme that pays according to changes in property values.

  • Take credit for HIPs' success, Gordon

    4 Aug 2008

    It would be churlish not to mark the first ann-iversary of Home Information Packs with plaudits and congratulations.

  • Taking the back office to the future

    4 Aug 2008

    The goal of straight-through processing will not be achieved until more companies invest in advanced systems to automate their back office operations, says Nick Berry

  • Tesco says mortgages are not on the agenda

    4 Aug 2008

    Tesco Personal Finance has rejected reports that it is looking to launch into the mortgage market.

  • This week's top question from CashQuestions.com

    4 Aug 2008

    Question: My client owns a flat with her sister which is valued at £180,000. The mortgage is around £110,000. My client earns £41,000 a year and her sister earns £25,000 as a contractor. They are on a sub-5% Northern Rock fixed rate that ends in October. They don’t think NR has nay more fixed rates and are not sure they can switch lenders as they have debts. Does this mean they’ll be left paying NR’s SVR?

  • TMA poll finds MPPI criticism has not dented sales

    4 Aug 2008

    The Mortgage Alliance claims that mortgage payment protection insurance sales via brokers have been unaffected by the recent run of bad pub- licity about the product.

  • TMA winner gets England tickets

    4 Aug 2008

    The Mortgage Alliance has announced the winner of its first online general insurance survey draw.

  • Trying to get a mortgage offer from BoI is a funny old game

    4 Aug 2008

    I am writing with regard to my recent frustrating dealings with Bank of Ireland as a packager.

  • US Federal Reserve holds rates at 2%

    6 Aug 2008

    The US Federal Reserve has held interest rates at 2%, raising concerns that tight credit conditions, the ongoing housing contraction and elevated energy prices will affect economic growth over the coming months.

  • Vic Jannels steps down from PMPA

    5 Aug 2008

    Vic Jannels has retired as the chair of the Professional Mortgage Packagers Alliance.

  • We need to act now to save people from repossession

    8 Aug 2008

    It was only a few weeks ago that every headline that came out of the Financial Services Authority seemed to announce a new fine for a rogue firm or broker.

  • What do you think of Sir James' interim report?

    4 Aug 2008

    Michael Coogan, director-general, Council of Mortgage LendersAs Bank of England figures on lending to individuals show, the mortgage market remains severely constrained. Lenders are unable to meet consumer demand for mortgages because there's not enough funding available. Without action, the situation in the housing market will get worse than it needs to.

  • Woolwich cuts buy-to-let rates

    4 Aug 2008

    Woolwich has slashed the rates on its key buy-to-let mortgages. It is reducing its lifetime tracker by 0.4 percent and its five-year fixed rate deal by 0.5 percent.

  • Wyles points to servicing and collections as specialist shortfalls

    5 Aug 2008

    Matthew Wyles, non-retail director at Nationwide, is suggesting the high-speed growth of specialist lenders over the past four years has led to inefficient servicing systems and trouble with the regulator.

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