Mortgage Strategy
4 February 2008

  • 36% Of brokers plan risk review after fraud story

    4 Feb 2008

    Just 36% of Mortgage Strategy Online readers plan to review their risk procedures after hearing about rogue trader Jérôme Kerviel's alleged fraud at Société Générale.

  • A to Z of leads

    4 Feb 2008

    As a result of hostile market conditions brokers need lead generation more than ever. And thanks to Mortgage Strategy's A to Z on the subject, they can get the most out of this crucial sector, says Christine Toner

  • A&L to cut SVR by 0.25%

    7 Feb 2008

    Alliance & Leicester will cut its SVR by 0.25% on March 2 from 7.69% to 7.44%. Existing customers on base rate tracker mortgages will see their rates fall by 0.25% from March 1 2008.

  • Abbey reveals 20% pre-tax profit rise

    7 Feb 2008

    Abbey has revealed its profits before tax increased by 20% to £822m for the full year ending December 31 2007.

  • Adrian Whittaker appointed Abbey director

    4 Feb 2008

    Adrian Whittaker has been appointed key accounts director at Abbey for Intermediaries.

  • AMPD launches Future exclusives

    4 Feb 2008

    The Alliance of Mortgage Packagers and Distributors has launched a range of exclusive fixed rate deals from Future Mortgages. The range features three-year prime and sub-prime fixed rates from 6.42%, with no extended tie-ins.

  • Anger over B2L tax decision

    4 Feb 2008

    Brokers and lenders have slammed the government for excluding buy-to-let investors from the 10% Capital Gains Tax rate for entrepreneurs due to be introduced on April 1.

  • Armageddon will have a soft landing

    4 Feb 2008

    Last week I wrote that I loved statistics and that they were the bread and butter of a journalist's life because they can be manipulated to prove whatever you want.

  • ARs warned that networks may abolish self-cert business

    5 Feb 2008

    Fears have arisen that networks may decide that certain areas of the mortgage market such as self-cert are too risky for their members.

  • AVMs will gain momentum in the post-crunch market

    4 Feb 2008

    In his article entitled 'AVMs as useful as chocolate teapots' in last week's iss-ue of Mortgage Strategy, Simon White seems to be missing the point.

  • B2L impact on house prices minimal

    7 Feb 2008

    The National Housing and Planning Advice Unit has concluded buy-to-let investors have had a minimal impact on house price growth.

  • B2L in Fitch risk spotlight at RMBS conference

    8 Feb 2008

    Fitch Ratings highlighted the danger of the buy-to-let market this morning at its Global Non-Conforming Mortgage Backed Securities Conference in London.

  • B2L set to flourish in Northern Ireland

    4 Feb 2008

    Northern Ireland's private rental sector is set to rocket in 2008, says a leading academic in the Province.

  • Banco Santander ready to fend off market turmoil

    7 Feb 2008

    Banco Santander is expected to make a net profit of just above market guidelines, says Keefe, Bruyette & Woods.

  • Banks face nervous wait on earnings

    4 Feb 2008

    UK banks face greater uncertainty over earnings this year than at any time in the past 10 years.

  • BIM appoints head of sales

    4 Feb 2008

    Ian Bates has been appointed to the role of head of sales at Bank of Ireland Mortgages. Bates, who is currently head of marketing, will be based at the lender's head office in Reading. He has been in the mortgage industry for 15 years and joined BIM in 2000.

  • Black and White shuts up shop

    4 Feb 2008

    Just hours after Black and White announced it was ceasing all regulated business, the firm has now decided to close its doors to all business.

  • Black and White: First Analysis

    4 Feb 2008

    Black and White is no stranger to hitting the headlines, as it proved last year when it received a knock on the door from the Financial Services Authority, but the news this morning that it has ceased all regulated business after falling prey to market conditions came as a shock to the packager community.

  • Blackandwhite.co.uk ceases trading

    4 Feb 2008

    Blackandwhite.co.uk will cease trading at close of business today.

  • Blackandwhite.co.uk halts regulated business

    4 Feb 2008

    Blackandwhite.co.uk has closed its doors to regulated mortgage business today, citing continued difficulties in the sub-prime mortgage sector.

  • Borrowers could save £346bn by offsetting

    4 Feb 2008

    UK mortgage holders could collectively save £346bn if offsetting was as popular here as it is in Australia.

  • Bridge bank planned to save failing firms

    4 Feb 2008

    The government is considering plans for a 'bridge bank' to facilitate private rescues of failing British banks.

  • Bright Finance adds three staff

    4 Feb 2008

    Bright Finance has appointed three staff to its sales and marketing teams. Mark Sillito and Richard Turner have joined the master broker as BDMs while Michelle Outhwaite has rejoined as a client relationship manager.

  • Broker warns on tougher lending climate

    6 Feb 2008

    Tighter lending criteria will have a negative effect on the housing market, an online brokerage has warned.

  • Brokers chained to their desks, says BM Solutions

    8 Feb 2008

    Brokers are working longer and more irregular hours to meet clients’ needs, says BM Solutions. The lender’s broker profiling research has revealed that more than half of advisers work regularly in the evening and a quarter work frequently at weekends.

  • Cable warning over CML figures

    8 Feb 2008

    Vince Cable has warned that figres showing a rise in repossessions suggest we could be on the ‘brink of another crash’.

  • Call for increased regulation

    4 Feb 2008

    Shelter has called for the Financial Services Authority's remit to be widened to cover secured loans, buy-to-let and sell-and-rent-back schemes.

  • Cary named president of GE Money

    8 Feb 2008

    William Cary has been named president and chief executive officer of GE Money.

  • Cast off the bonds of wage slavery

    4 Feb 2008

    Self-employment is the way forward for brokers who want to reap the benefits of their hard work and build up significant personal wealth, says Rob Clifford

  • Checkmate names operations director

    4 Feb 2008

    Barry Searle has been appointed managing director of operations at Checkmate Mortgages. Searle previously performed the same role at GMAC-RFC.

  • Cheesed off

    4 Feb 2008

    Cheese. The French love it and so does Dominic 'soapy tit knaw' Hyatt. So much so that after indulging in copious amounts of the smelly stuff, the PR boy's bowels locked up like the driveshaft of a 1.3 Nissan Micra going 180mph down the M4 bus lane.

  • CHL Commercial launches website

    6 Feb 2008

    Commercial lending specialist, CHL Commercial, has launched a new standalone website.

  • CHL Commercial launches website

    7 Feb 2008

    CHL Commercial has launched its standalone website.

  • Clegg warning on repossessions

    8 Feb 2008

    Nick Clegg will warn today of an epidemic of repossessions in the UK unless action is taken.

  • Clients can ring-fence property value

    4 Feb 2008

    Just one month into the new year and already equity release providers are hard at it, vying for business from you and your customers.

  • CML: 27,000 repossessions in 2007

    8 Feb 2008

    The Council of Mortgage Lenders has reported that 27,000 homes were repossessed in 2007.

  • Compensation culture will lead to higher broker fees

    4 Feb 2008

    The Financial Services Authority is to be commended for its Treating Customers Fairly initiative and it's great that the Financial Ombudsman Service has adopted the Marks & Spencer approach. In other words, if products are unsuitable or consumers change their minds they can get refunds.

  • Countrywide Conveyancing appoints marketing director

    4 Feb 2008

    Countrywide Conveyancing Solicitors has appointed Gordon Ensor as sales and marketing director.

  • Countrywide records first loss for 30 years

    4 Feb 2008

    Countrywide, the US' largest mortgage lender, has reported a net loss of $704m for 2007.

  • Crash

    4 Feb 2008

    Hall's brush with death didn't end there. On the flight home, the pilot announced that the computer system needed to land the plane had crashed - an unfortunate turn of phrase in the circumstances. As a result the plane had to be diverted to Stansted.

  • Crawshaw named CML chairman

    4 Feb 2008

    The Council of Mortgage Lenders has appointed Steven Crawshaw, group chief executive of Bradford & Bingley, as chairman for 2008. He succeeds Jon Pain, former managing director of Cheltenham & Gloucester.

  • CurriculumVitae: Julie Johnston

    4 Feb 2008

    "I worked in the accounts department of a knickers factory like the one on Coronation Street. I hated it and lasted four days"

  • Data sharing is key to TCF delivery

    4 Feb 2008

    The deadlines for treating customers fairly are bearing down on the industry and firms must be ready to share information to meet the initiative's standards, says Katie Tucker

  • DB faces possible $5.8bn debt

    5 Feb 2008

    German media has revealed Deutsche Bank is set to lose $5.8bn in credit as a result of a commercial loan that is unlikely to be repaid.

  • DB unveils pre-tax profits of £6.5bn for 2007

    7 Feb 2008

    Deutsche Bank has reported pre-tax profits for 2007 of £6.5bn (8.7bn euros) up 5% on last year.

  • Dear Delia...

    4 Feb 2008

    Dear Delia My clients Mr and Mrs Rayner are 67 and 65 respectively. They took out an equity release plan 10 years ago and believe their house is now worth £300,000. They think the rate on their product may be uncompetitive and have asked if they can remortgage to a better deal. What are their options?

  • Debt Advice and Trafalgar launch debt service

    4 Feb 2008

    Debt Advice Portal has teamed up with Trafalgar Square Solutions to provide debt solutions advice to borrowers who are unable to get a mortgage.

  • Debt consolidation may be anti-TCF

    6 Feb 2008

    Financial advisers should think twice before suggesting consolidation to indebted clients, a debt mangement advisor has warned.

  • Do lenders need to improve the way they communicate proc fee changes to brokers?

    4 Feb 2008

    In the online world, lenders' communications must strike a balance between speed, clarity and tone, say our experts

  • Easier2Move boosts broker referral fees

    4 Feb 2008

    Easier2Move has hiked broker re-ferral fees by 50% for remortgages until February 21.

  • Eddie Smith to leave PMPA

    8 Feb 2008

    The Professional Mortgage Packagers Alliance's managing director Eddie Smith is to leave to pursue other opportunities.

  • Everydayloans exits secured broker market

    7 Feb 2008

    Secured and unsecured loan lender Everydayloans has pulled from the packager secured loan market just months after it launched into the sector.

  • Exclusive Connections delivers record completions

    4 Feb 2008

    Exclusive Connections has revealed its business volumes increased 37% in 2007 to a record £2.75bn. The figure is up from £2bn of completions in 2006.Matthew Arena, managing director of Exclusive Connections, says: “It is good to be able to announce record figures for the business at this time. “The landscape has changed significantly and we are in a very challenging environment, but we are well placed to offer the best solution for packagers in a changing marketplace.”

  • Exclusive Connections reports record business

    4 Feb 2008

    Exclusive Connections, the UK’s largest packager association with over 50 members, has increased its business volumes by 37%, completing over £2.75bn in 2007.

  • Ex-NACFB chair launches commercial network

    8 Feb 2008

    Keith Heron, the ex-chief executive of the National Association of Commercial Finance Brokers, has launched a network for UK commercial finance brokers,Commercial Funding Partners.

  • Expect more downgrades in 2008, says Fitch

    4 Feb 2008

    Fitch Ratings is predicting more negative ratings this year.

  • Fed slashes US interest rate to 3%

    4 Feb 2008

    Last week the US Federal Reserve slashed interest rates for the second time in nine days, reducing them by a further 0.5%. The US interest rate now stands at 3%.The Federal Open Market Committee says credit has continued to tighten for businesses and households, and the latest cut is a bid to head off a recession.

  • Fitch Ratings backs interest rate cut

    8 Feb 2008

    The UK sub-prime market will benefit from yesterday's base rate cut, a leading ratings agency has concluded.

  • Flexible firms will survive the crunch

    4 Feb 2008

    Another week has passed and another report on the dire state of the money markets has been published. We are regularly presented with these forecasts in the current climate and they make for gloomy reading.

  • Focus on people when times get tough

    4 Feb 2008

    Mortgage broking is the ultimate people business. Borrowers deal with brokers because they like to receive advice from experts they trust and brokers prefer to deal with lenders with which they have established personal contact.

  • FSCS announces levy estimate

    7 Feb 2008

    Financial services firms will be charged a total of £30.7m in levies in the next financial year.

  • FT Network appoints national sales manager

    7 Feb 2008

    FT Network has appointed Ranjit Narwal as national sales manager. Narwal has been in secured loans for 20 years, having started out his career at Mortgage Express, moving on to Endeavour, igroup and latterlyk, Loans Etc.

  • Future cuts LTVs on secured loans

    6 Feb 2008

    Future Mortgages is reducing its maximum LTV from 90% to 85% on all secured loan applications. The change will take place from Friday 8 February 2008 for new business and until 4 April for approved applications,

  • GHL links up with Money Partners

    6 Feb 2008

    GHL Group has added Money Partners to its lender panel.

  • Help clients to be successful investors

    4 Feb 2008

    Most buy-to-let investors have moved away from looking for short-term capital gain and towards longer term investment planning.

  • HiFX announces fees free service

    4 Feb 2008

    HiFX will offer a fees free service on overseas mortgages in a bid to challenge sub-standard overseas brokers.

  • HiFX launches fees free overseas service

    4 Feb 2008

    HiFX Mortgage Services has launched a fees free service on overseas mortgages.

  • HML appoints chairman

    4 Feb 2008

    David Cutter, group corporate director of Skipton, has been appointed chairman of Homeloan Management Limited.

  • House moving part of UK's way of life

    4 Feb 2008

    Forget the media scare stories, Britons are obsessed with property and this passion will sustain the mortgage market despite the liquidity crisis, says Simon White

  • House prices flat as a pancake in January

    5 Feb 2008

    Halifax says UK house prices remained unchanged in January from December despite predictions of a 0.3% tumble.

  • Housing crash reports are exaggerated

    4 Feb 2008

    The media is obsessed with a property market crash but the UK's economic fundamentals are sound and the mortgage industry must stay calm and tell it like it is, says Ian Giles

  • Housing slump may herald economic woe

    4 Feb 2008

    A slowdown in the housing market will lie at the heart of a serious economic downturn in the UK, according to a top economist.

  • How much do you think you need to earn to live a comfortable life?

    4 Feb 2008

    British households that earn treble the average annual income still don’t believe they are earning enough to live well, a survey by Hiscox Direct has discovered. The findings reveal that 90% of households generating an annual income of £88,000 do not consider themselves well off. So this week, Mortgage Strategy asks… How much do you think you need to earn to live a comfortable life?

  • I bought leads that were a waste of time for everyone

    4 Feb 2008

    I buy leads on a regular basis and before Christmas, one firm had a special offer on remortgage leads that seemed attractive, so I bought a batch.

  • IMLA describes repossession data as 'reassuring'

    8 Feb 2008

    Figures on arrears and repossessions are ‘reassuring’ , the Intermediary Mortgage Lenders Association said today.

  • In-Focus launches 90% LTV adverse product

    4 Feb 2008

    In-Focus Mortgage Packaging has launched a 90% LTV adverse product with unlimited County Court judgements and defaults.

  • Insolvency figures down despite crunch

    4 Feb 2008

    The number of people going into personal insolvency has fallen for the first time in six years.

  • InterBay Commercial teams up with Niche Mortgage Packagers

    7 Feb 2008

    InterBay Commercial and Niche Mortgage Packagers have teamed up to offer intermediaries free legals on all commercial purchases and remortgages for February.

  • It's time to pay attention to the RDR

    4 Feb 2008

    Brokers should watch the progress of the FSA's Retail Distribution Review closely in 2008 as there is a chance its provisions will be applied to the mortgage sector, says Bill Warren

  • January figures point to continued housing slowdown

    8 Feb 2008

    The housing market in England and Wales continues to show signs of a slowdown, figures released today suggest.

  • Keep friendship, give us our deposits

    4 Feb 2008

    As John Murray, editor of Lending Strategy, pointed out in his column last week, statistics are a great friend to journalists because they can be used to prove whatever point you like.

  • Kensington chief executive resigns

    4 Feb 2008

    Alison Hutchinson has stepped down as chief executive officer of Kensington Group after four years at the helm.

  • King gets second term at BoE

    4 Feb 2008

    Mervyn King has been reappointed for a second term as governor of the Bank of England. The 59 year old was first appointed to the post in July 2003. His contract was due to expire on June 30 but was extended last week. Ladbrokes says the odds are now 16 to 1 that he could be given a third term.

  • Lancashire Mortgage Corporation cuts commercial rates

    4 Feb 2008

    Lancashire Mortgage Corporation has revised its commercial mortgages and commercial secured loans rates.

  • Last NR bidders lay cards on table

    4 Feb 2008

    The two remaining bidders left in the race to save Northern Rock have now submitted their proposals.

  • Leadbay offers cheaper calls

    4 Feb 2008

    Leadbay has changed its telephone number to 0333 666 9000 following the introduction of cheaper prefixes. As of today, all big phone operators will allow the use of 03 numbers to replace costly 0845 and 0870 options. The 03 numbers will be on a national rate, so will cost the same as numbers starting 01 or 02.

  • LeadPoint teams up with Debt Advice Portal

    5 Feb 2008

    LeadPoint has linked up with debt solutions company The Debt Advice Portal to help brokers enhance the service they offer.

  • Lenders give their support to PMPA

    4 Feb 2008

    Lenders attending the Professional Mortgage Packager Alliance’s recent lender forum have given their strong support to continued dialogue and partnership with PMPA and its member packager/ distributors.

  • Lifetime offers inhouse client system to brokers

    4 Feb 2008

    Lifetime Financial Management has made its inhouse client management system 360 Lifecycle available to all mortgage and insurance brokers.

  • Market watch 040208

    4 Feb 2008

    Swaps posted sharp increases last week but they are still comfortably below their levels of last year.

  • Mayfair Bridging launches

    6 Feb 2008

    Mayfair Bridging has launched into the bridging market with what it says is a no nonsense attitude to bridging finance.

  • Me and my ipod - 4 February 2008

    4 Feb 2008

    A mixture of rock, ska, indie and Motown grace my iPod but it's the angry pop of Paul Weller and The Jam that's top of the pops as far as I'm concerned, says Martin Reynolds

  • MEX changes its new-build policy

    4 Feb 2008

    Mortgage Express has unveiled changes to its new-build remortgage policy. The lender will now base remortgages on new-build properties on borrowers' initial investment minus any cashback amounts from developers. MEX previously allowed remortgages within six months, based on valuations. Gus Park, director of intermediary sales at MEX, says the change is an attempt to ensure new-build deals are based on sound valuations.

  • MI and TMB launch B2L exclusive

    5 Feb 2008

    Mortgage Intelligence has teamed up with The Mortgage Business to offer an exclusive House2House deal.

  • Mint brokers must use EDGE V2 for sub-prime

    7 Feb 2008

    Mint Financial Services has made sourcing system EDGE V2 a mandatory part of its sales process for brokers doing sub-prime and self-cert mortgages.

  • Mint FS opts for Exweb portal

    4 Feb 2008

    Broker network Mint Financial Services has chosen The Exchange’s Exweb portal as its online broker platform.

  • Mint integrates EDGE V2

    7 Feb 2008

    Mint Financial Services has become the first network to integrate EDGE V2 into its offical sales process, for all adverse and self cert mortgage business with effect from 1 March 2008.

  • M-IS offers lifeline to Blackandwhite.co.uk staff

    4 Feb 2008

    Mortgage-Insurance Services is offering a lifeline to staff at Blackandwhite.co.uk and is urging them to contact it regarding possible job opportunities.

  • Mortgage Strategy Awards 2008 - The Results

    6 Feb 2008

    The cream of the UK mortgage industry assembled last night at London’s plush Grosvenor House Hotel for the prestigious Mortgage Strategy Awards 2008.

  • Mortgage Times and LeadPoint team up

    5 Feb 2008

    Vision Network and Mortgage Times has added lead generation firm LeadPoint to its panel.

  • Mortgages.co.uk wants brokers to be partners

    4 Feb 2008

    Mortgages.co.uk has launched a scheme to ensure all the mortgage en-quiries it receives are passed on to brokers with expertise in relevant areas, including equity release, commercial and overseas deals.

  • Mosaic Mortgage Club launches conveyancing service

    4 Feb 2008

    Mosaic Mortgage Club will launch its own dedicated conveyancing service for all of its 1,200 members tomorrow. Mosaic will be offering an all inclusive remortgage fee of £199 and what it believes to be the cheapest Home Information Pack on the market at £289 all inclusive.

  • MPC slashes base rate to 5.25%

    7 Feb 2008

    The Bank of England's Monetary Policy Committee has slashed the base rate by 0.25% today, bringing it down to 5.25%.

  • MT adds Leadpoint to panel

    5 Feb 2008

    Mortgage Times and Vision Network have appointed LeadPoint as their lead generation providers.

  • Mutual's broker arm hits 500 cases

    4 Feb 2008

    Cheshire Mortgage Brokers has completed 500 mortgages since its launch 18 months ago. The brokerage, which is part of the Cheshire, also offers life and home insurance.

  • NAEA says repossessions figures need to be seen in perspective

    8 Feb 2008

    The National Association of Estate Agents has called for calm over repossession figures relased today.

  • Nationwide reveals consumer confidence plunge

    6 Feb 2008

    The Nationwide Consumer Confidence Index has plunged to its lowest level since the survey began, reflecting rising gloom over the economy this year.

  • Nationwide service made my client's Xmas, and mine too

    4 Feb 2008

    Reading my weekly copies of Mortgage Strategy, I find I'm getting fed up with the negative tone of many articles and letters in the current challenging climate. So I've decided instead to sing the praises of Nationwide's mortgage centre in Belfast.

  • NR to be classed as public sector corporation

    7 Feb 2008

    Northern Rock is to be classified as a public sector financial corporation by the Office of National Statistics.

  • NR's largest shareholder ups its stake

    7 Feb 2008

    Northern Rock shares surged after its largest shareholder increased its stake in the bank.Monaco-based hedge fund SRM Global bought up another 2.15 million shares in the lender yesterday morning, increasing its total holding from 10.25% to 10.77%.Yesterday afternoon, shares in NR shares were trading 7.8% higher, or 7p, at 97p after initially opening lower. SRM bought the shares at 92p.

  • Offsetting suits City bonus recipients

    4 Feb 2008

    The struggle that is January has finally come to an end and some money is flowing back into bank accounts.

  • Olivant pulls out of race to save NR

    4 Feb 2008

    Investment firm Olivant has pulled out of the race to save Northern Rock.

  • Olivant secures backing for NR bid

    4 Feb 2008

    One of Northern Rock’s largest shareholders has backed Olivant's bid for the bank.

  • Optoma adds Accord to panel

    4 Feb 2008

    Optoma Broker Solutions has expanded its sub-prime offering with addition of Accord Mortgages to its lending panel.

  • Optoma launches with Accord Mortgages

    4 Feb 2008

    Optoma Broker Solutions has expanded it's sub-prime offering with the addition of Accord Mortgages to it's panel.

  • Osborne says NR affair has damaged UK reputation

    4 Feb 2008

    Shadow chancellor George Osborne has lambasted the government for damaging the international reputation of the UK's financial services market.

  • Overhang deals try to turn back time

    4 Feb 2008

    Cher, that most reconstructed of divas, once had a big hit in the UK about turning back time and it seems a number of the mortgage industry's product marketers are fans if the latest deals they are peddling are anything to go by.

  • Packagers must show they offer more than a glorified marketing platform

    4 Feb 2008

    I am writing in response to Matt West's column in the January 28 issue of Mortgage Strategy entitled 'Lenders not packagers deserve grief'.

  • Paradigm launches compliance service

    6 Feb 2008

    Paradigm Mortgage Services has today launched a compliance service.

  • Pink conference to focus on TCF

    4 Feb 2008

    Pink Home Loans is to make Treating Customers Fairly the focus of its annual sales conference, which will be held in Birmingham on February 21. Talks will be given by experts including Michael Coogan, director-general of the Council of Mortgage Lenders and Richard Farr, director of the Association of Mortgage Intermediaries.

  • Platform reviews packaged business

    4 Feb 2008

    Fraud is one of many areas Platform has targeted in a review of its packaged business.

  • PMPA offers exclusives through Amber

    5 Feb 2008

    The Professional Mortgage Packagers Alliance has launched four new fixed rate products from Amber Homeloans.

  • PMPA wins lender support

    4 Feb 2008

    Attendees at the Professional Mortgage Packager Alliance's two-day forum united in their support for the body last week.

  • PPI not part of PruProtect work

    4 Feb 2008

    Contrary to the news story headlined 'Pundits reject PPI findings' in the January 28 issue of Mortgage Strategy, PruProtect does not offer payment protection insurance.

  • Prime lending is dominant in UK, says IMLA

    4 Feb 2008

    Prime lending continues to dominate the UK mortgage market, says the Intermediary Mortgage Lenders Association.

  • Protect and serve

    4 Feb 2008

    Clients need mortgage payment protection insurance but brokers must ensure their record-keeping is up to scratch to protect themselves too, says Steve Walker

  • Prudential's global sales increase 21%

    4 Feb 2008

    Prudential has revealed a 21% rise in international sales as part of its preliminary results announcement for 2007, published last week. But the company's UK division saw no growth in sales, which remained stable at £897m during the year.

  • PTP adds Money Partners to its primary lender panel

    4 Feb 2008

    Personal Touch Packaging has promoted specialist lender Money Partners to its primary packager panel.

  • PTP receives record number of DIPs

    7 Feb 2008

    Personal Touch Packaging received a record number of decisions in principle yesterday.

  • Quest processes HIPs across UK

    4 Feb 2008

    Home Information Pack and Energy Performance Certificate software provider Quest says it has processed a HIP or EPC in every postcode district of the UK.

  • Recruitment specialist falls victim to crunch

    4 Feb 2008

    Venatus Business Intelligence has been forced to close as a result of the liquidity crisis.

  • Reservations about voluntary IVA code

    4 Feb 2008

    A leading debt charity has questioned the effectiveness of a code of conduct for individual voluntary arr-angement providers.

  • S&P downgrades Friends Provident

    4 Feb 2008

    Standard & Poor's has downgraded several of Friends Provident's ratings and giving it a negative outlook following the insurer's recent announcement on strategic changes.

  • S&P launches procedure shake-up

    7 Feb 2008

    Standard & Poor’s has launched major reforms after widespread criticism of ratings agencies’ failure to spot risks in sub-prime investments.

  • S&S chooses Xit2's valuation exchange

    4 Feb 2008

    Stroud & Swindon has chosen xit2’s valuation exchange to manage its valuation instructions. Andy King, senior manager of lending at Stroud & Swindon, says: "Xit2’s valuation exchange provides a single, efficient system which speeds up the entire valuation process. "With the progress of the valuation displayed on the system, everyone is kept up-to-date and informed which delivers a tangible benefit to our brokers, clients and surveyors."

  • Salans calls for rent-back code

    4 Feb 2008

    Salans is calling for a code of conduct to rescue the sell-and-rent-back sector's reputation. Sell-and-rent-back schemes have come under fire due to a number of providers operating without independent valuations or rental guarantees.

  • Sale-and-rent-back trade body launch

    5 Feb 2008

    A trade association for the sale-and-rent-back sector has launched today, along with a comprehensive Code of Practice.

  • Salt offers B2L to packagers

    4 Feb 2008

    Salt Finance is now offering buy-to-let products through its packager partners.

  • Salt opens up BTL range to packagers

    4 Feb 2008

    Packaging partners of Salt will now be able to access the company’s full range of buy-to-let products in a move designed to further increase penetration in the market.

  • Scary ice

    4 Feb 2008

    Well, where to begin. Ingall, Montlake and Hyatt almost missed their plane. ****** almost forgot to wear a condom. McCarthy was almost knocked out by a ski lift. A skidoo almost amputated Hall's leg and he almost died three times.

  • Second charge repossessions increase

    5 Feb 2008

    A third of mortgage lenders have seen an increase in the number of repossessions initiated by second charge providers, Moore Blatch has revealed.

  • Senior employees quit TMO

    6 Feb 2008

    Two senior employees at The Mortgage Operation have left the company.Jon Haynes, director of mortgage packaging, and Mike Hibbert, sales director for Chester, Liverpool and Manchester, handed in their resignation letters to the London-based packager on Monday.They are not planning a business venture and both have left to pursue other opportunities.

  • Sesame and Accord launch fixed and tracker

    6 Feb 2008

    Sesame has joined forces with Accord to offer two exclusive residential mortgage products available for house purchase and remortgages.

  • Sesame offers Accord exclusive

    5 Feb 2008

    Sesame has joined forces with Accord to offer two exclusive residential mortgage products, available for house purchase and remortgages.

  • SHIP unveils 2007 figures

    4 Feb 2008

    Safe Home Income Plans has revealed that the value of equity release plans sold over 2007 went up by 5%.

  • Six city - 4 February 2008

    4 Feb 2008

    I had a huge row with a good friend about the commercial property market last week. Well, it was about the serious damage I think is being caused to consumer confidence by investment firms denying investors access to their cash.

  • Skid mark

    4 Feb 2008

    The best thing about a skidoo is that it goes faster than a Nissan Micra. And when you're going uphill holding on for dear life and the only thing stopping you from meeting Jeremy Beadle at the Pearly Gates is Julian Ingall at the helm, you would think you'd be safe. Well, sort of.

  • Skipton pulls prime products for re-price

    8 Feb 2008

    Skipton has withdrawn its prime product range to review pricing following the cut in the Bank of England base rate.In an email to brokers Skipton for Intermediaries says: “With yesterday's change in base rate, we are taking time out to review our products and pricing. “Consequently our existing prime products have been withdrawn from the sourcing systems and our website.”The lender says new rates and products will be communicated shortly.

  • Small firm costs swell FSA 2008/9 budget

    6 Feb 2008

    The Financial Services Authority has hiked its annual funding requirement by 6.9% for small firms for the 12 months to March 31 2009.

  • Snow patrol

    4 Feb 2008

    Mortgage Strategy editor Robyn Hall went skiing in Les Gets with those nice folks from Cobalt Capital last week.

  • Solent and Amber launches FTB self-cert deals

    7 Feb 2008

    Solent Mortgage Services has launched two exclusive self-cert products for first-time buyers.

  • Steve Atkins gets back into property

    4 Feb 2008

    Steve Atkins, former head of Premier Mortgage Service, has returned to the property market as a consultant for Elite Property Search. Meanwhile, John Malone, outgoing managing director of PMS, says he does not expect his replacement to be appointed for at least three months.

  • Stock Picker

    4 Feb 2008

    The markets remained volatile last week as credit issues continued to dominate.

  • Stonehaven appoints BDM

    6 Feb 2008

    Equity Release provider Stonehaven has appointed Keith Thompson as BDM for the north of England.

  • Tap every income source to thrive

    4 Feb 2008

    The news that The Mortgage Times Group is to launch its Vision Network into the IFA market is a sign of how the market is evolving.

  • TCF means customers are not being treated fairly

    4 Feb 2008

    Given the amount of time needed to implement the Financial Services Au-thority's Treating Customers Fairly regime in brokers' firms, are we now failing to provide fair treatment to our customers because we have less time to spend with them?

  • TCF treated as fair-weather policy

    4 Feb 2008

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

  • Tenacious brokers will never let go

    4 Feb 2008

    The best brokers will pester lenders like a dog with a bone and this tenacity saved a desperate client who'd had a mortgage offer withdrawn at the last minute, says Sue Read

  • Tories to consolidate UK regulatory bodies

    4 Feb 2008

    The Tory MP leading an independent review of UK regulation has pledged to look at cutting petty bossiness.

  • Towergate is good for small businesses with big ideas

    4 Feb 2008

    The Towergate Partnership has been described as a consolidation machine that will continue to roll on, buying up brokerages.

  • Trade associations come up trumps

    4 Feb 2008

    Just when it looked like no-one was standing up to the regulators on behalf of brokers and IFAs, the Association of Mortgage Intermediaries and Association of Independent Financial Advisers came up trumps with two big announcements.

  • Two Chelsea directors to retire

    4 Feb 2008

    Chelsea's national sales director Marilyn Corke will retire at the end of the year. She joined the lender in 1978. Finance director Peter Walsh will also retire in December after 29 years' service.

  • Two-thirds of savers would shun Northern Rock brand

    4 Feb 2008

    More than two-thirds of savers would not be prepared to put money in an institution called Northern Rock.

  • UBS braces for £2bn loss

    4 Feb 2008

    UBS last week said it is expecting net losses of more than £2bn in its 2007 full-year results. Standard & Poor's and Moody's both changed their outlooks for the Swiss investment bank from stable to negative following the news, while Fitch confirmed its negative outlook.

  • UCB launches B2L fixed rate products

    7 Feb 2008

    UCB Home Loans has launched buy-to-let rental cover products for up to 85% LTV.

  • Uinsure adds TMC as partner

    4 Feb 2008

    Uinsure has added The Mortgage Centre IFA as a broker partner.

  • Uinsure sees 800th firm enlisted

    8 Feb 2008

    Uinsure has now secured 800 firms among the list of brokers that use its website to sell insurance.

  • UNIFi teams up with Promise

    4 Feb 2008

    UNIFi Partners and Promise Solutions have teamed up to provide brokers with support for secured loan business. UNIFi will offer its members access to the Promise Quote sourcing system.

  • Vertex has ratings affirmed

    8 Feb 2008

    Vertex UK has had its mortgage servicer ratings affirmed by Fitch Ratings.

  • Vision offers home to Black & White brokers

    5 Feb 2008

    Vision Network, the network arm of The Mortgage Times Group is encouraging brokers of blackandwhite.co.uk and to become members of its network.

  • Vision sets its sights on IFAs

    4 Feb 2008

    The Mortgage Times Group's Vision Network has applied to the Financial Services Authority to transform itself from a mortgage network into a multi-tie IFA network.

  • Warren axed from RAMP

    8 Feb 2008

    Bill Warren has been made redundant from the Regulatory Alliance of Mortgage Packagers as the group has scrapped its associate member tier.

  • We must expose the dodgy brokers

    4 Feb 2008

    It's well known that you can't please all the people all the time, and with this in mind I was only too happy to read a letter in last week's Mortgage Strategy in response to my column entitled 'Road to hell paved with good intentions' that appeared in the January 21 issue.

  • Website talks nonsense about arrears

    4 Feb 2008

    Last week, I read an article that mentioned re-search by Moneysupermarket.com. Apparently, the website has investigated (and I use the word loosely) variations between lenders' arrears penalties and concluded that the charges are punitive and unjust.

  • YCS buys up Lawlink

    8 Feb 2008

    Your Case Signed has acquired the assets, client base and representatives of Lawlink.

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