Mortgage Strategy
4 July 2005

  • A little time

    4 Jul 2005

    There are two main concerns for the Bank of England with regard to the near term path for the UK economy: the strength of global indicators and the risk that UK consumption weakness gets worse over the summer.

  • Abbey for Intermediaries makes service pledge

    6 Jul 2005

    Abbey for Intermediaries is launching a 10 day mortgage offer commitment on July 12 as part of its service pledge.

  • Access Broker Services appoints national sales manager

    6 Jul 2005

    Access Broker Services has appointed David Armistead as its national sales manager.

  • Accord sub-prime deals given selective launch

    4 Jul 2005

    Accord is to pilot its sub-prime mortgages with the Legal & General Partnership, John Charcol and Pink from July 11.The launch will comprise two products - one discount and one tracker - in the categories of near prime, light adverse, medium, heavy and unlimited.Following the pilot period, the products will be rolled out to the wider market.Part of the reason for going down the selective launch route is that Accord's packaging and cascade system will not be ready until September.Accord ...

  • All quiet on the western front

    4 Jul 2005

    There has been a slowdown in new mortgage lending, largely due to the faltering economy and the continuing malaise in the first-time buyer market, says Richard Griffiths

  • AMI seeks to recruit new policy officer

    8 Jul 2005

    The Association of Mortgage Intermediaries is looking to recruit a new policy officer to work with director Chris Cummings.

  • B&B introduces electronic ID verification

    5 Jul 2005

    Bradford & Bingley has introduced electronic ID verification on direct savings account applications to save customers the cost and inconvenience of providing ID documents and also reduce its application processing costs.

  • BA slams 'insubstantial' networks

    4 Jul 2005

    Burns Anderson has attacked recently established mortgage networks for lacking substance.Speaking at the Burns Anderson annual conference, Mike Hughes, chief executive of Burns Anderson, told delegates poorly resourced and managed networks affect the reputation of the whole industry.Hughes says: "There are a few well managed, well funded mortgage networks but many have little substance."As an established network of nearly 18 years' standing, we are concerned that advisers ...

  • Baldwin says case has failed

    4 Jul 2005

    Keith Baldwin, CEO at Home of Choice, says Openwork's initial case against managing director Richard Coulson has failed.Openwork had started legal action against Coulson, former Zurich Mortgage Advice Network director, accusing him of promoting his new network while still in Zurich's employment.Baldwin says: "Zurich has already failed once, which is why it withdrew from the action against Coulson and is going to have to pay his legal costs. It has now instigated yet more inappropriate ...

  • Banca Woolwich selects Experian-Scorex

    6 Jul 2005

    Banca Woolwich, Barclays Bank's specialist mortgage business in Italy, is to implement the New Business SM decisioning solution from Experian-Scorex.

  • Bank holds rates at 4.75%

    8 Jul 2005

    The Bank of Englands Monetary Policy Committee yesterday voted to maintain the Banks repo rate at 4.75%.

  • Base rate could stay low for some time

    4 Jul 2005

    "You put your left leg in, your left leg out." Home owners might be forgiven for feeling a bit like they are in the middle of some kind of elaborate hokey cokey when it comes to predictions about base rates. Until last July there was a slow but determined creep upward, only for rates to plateau at 4.75%.

  • Be prepared to send in your RMAR

    4 Jul 2005

    Firms must put in place robust procedures and ensure they know when their RMAR is due to be sent in to the FSA as there will be penalties for late submission, says Bill Warren

  • Berkley Berry Birch launches strategic partnership with PMN

    8 Jul 2005

    Berkeley Berry Birch has secured a strategic partnership with Professional Mortgage Network.

  • Betting on house price variations

    4 Jul 2005

    A revolutionary betting exchange based on house prices has been launched by betting exchange firm Betfair to allow home owners to hedge against price falls.The exchange allows borrowers to bet on national house prices based on the Halifax National House Price Index. It could have far-reaching consequences for home owners.Unlike housing betting markets offered by spread betting companies, Betfair customers are not exposed to open-ended risk. Maximum liability is calculated before ...

  • Brokers call for separate AMI figurehead

    4 Jul 2005

    Brokers are calling for the Association of Mortgage Intermediaries to appoint a separate director to act exclusively for the trade body.But current director Chris Cummings, who has also taken on the role of director-general of AMI's parent body, the Association of Independent Financial Advisers, insists he does both roles successfully and wants to strengthen AMI.Jonathan Burridge, managing director at brokerage Quantum, used to be a member of AMI and says he would consider rejoining ...

  • Brokers want e-statements

    4 Jul 2005

    Brokers want more lenders to provide them with electronic commission statements so they can receive proc fees quickly and efficiently, says research from the Financial Technology Research Centre.The e-Excellence Mortgage Research 2005 surveyed 15 lenders including Halifax, Intelligent Finance, Nationwide, BM Solutions and Accord, and advisers from the likes of Bankhall, John Charcol and Network Data to reveal that few lenders are providing commission statements electronically.This ...

  • CBI chief Sir Digby Jones calls for interest rate reduction

    6 Jul 2005

    CBI chief Sir Digby Jones is to step up the pressure for a cut in interest rates.

  • CHL unveils three-year B2L fixed deal

    4 Jul 2005

    Capital Home Loans has launched a 5.25% three-year fixed rate buy-to-let mortgage which reverts to Bank base rate plus 0.75% for the remaining term of the deal.The product, which is also available from CHL's Irish Permanent brand, is fixed until October 31 2007.It is available to individuals and limited companies, with student lets and houses divided into self-contained flats permitted. The maximum loan size is 2m and no accounts are required. Maximum loan-to-value is 85% and ...

  • Cobalt Capital and Chelsea Mortgage Management to merge

    4 Jul 2005

    London brokers Cobalt Capital and Chelsea Mortgage Management are to merge.

  • Continental drift

    4 Jul 2005

    The UK mortgage market is more advanced than the European one - something which is beneficial to lenders, brokers and borrowers looking for a good deal on the Continent, says Harvey Jones

  • Curriculum Vitae - Emma Paine

    4 Jul 2005

    "Working in Dolcis at 16 inspired my vast shoe collection"

  • Deal launched to help people breaking up

    4 Jul 2005

    Yorkshire is today launching a mortgage proposition called Fresh Start, designed to help divorcees or those going through a relationship break-up.Following extensive research among recently separated individuals the society designed a product to meet many of the needs people have when they are in the process of dividing one home into two.With many recently separated people experiencing hardship, the product comes with features designed to help them through this financially and ...

  • Dear Delia

    4 Jul 2005

    My client is in the process of buying her first home and realises she should protect her income should she have an accident, fall ill or become unemployed. However, she has read some bad press surrounding mortgage payment protection policies. What should I advise her?

  • Do lead generation services play a valuable role and how do you choose the right one?

    4 Jul 2005

    While many remain sceptical about internet lead generation it can pay off if you ask potential providers the right questions, say our experts

  • Don't jump to conclusions

    4 Jul 2005

    Everyone in business can agree on one thing - we need clients to survive. Without clients, we have no business and in the highly competitive mortgage industry we must do our best both to retain existing customers and to nurture new ones.

  • Don't make the FSA take on more work

    4 Jul 2005

    The pain surrounding the regulation of mortgages has subsided with time. Memories are fading about the agonising first few weeks and months and I have no wish to stir up nightmarish recollections of incomplete or unavailable Key Facts Illustrations, lack of authorisations on websites and unavailable mortgage offers, to name just a few of the things that went wrong.

  • East Anglia fastest growing area in UK and EU, says TMC

    4 Jul 2005

    East Anglia has been identified as not only the fastest growing region in the country over the next five years but as the fast growing area in Europe.

  • E-commerce could benefit industry

    4 Jul 2005

    When data standards are linked with common process definitions, a powerful industry asset is created and this could be of great benefit to the mortgage industry, says Frank Eve

  • em offers free val and legals on selected Platform and SPML products

    8 Jul 2005

    em has announced that it can exclusively offer free valuation and free legals on selected Px (Platform) and Sx (SPML) ranges for re-mortgages in England and Wales.

  • Errors cause Amber to return business

    4 Jul 2005

    Amber Homeloans says it has to send about 1m of business a day back to intermediaries because of gaps in information or errors on application forms.Amber sales and marketing director Mike Perry warns that lenders should not think it is an easy way out for them to simply fill in blanks such as product type being applied for, as the Financial Services Authority could interpret this as the lender choosing the product.Perry says: "Everybody points the finger at lenders for cases ...

  • Fair shares of the MPPI cake at last

    4 Jul 2005

    Ethically-run brokerages should relax in the knowledge that Treating Customers Fairly should result in them finally getting their fair share of the MPPI cake, says Simon Burgess

  • Fixed rates are getting cheaper, says Your Move

    6 Jul 2005

    Your Moves June Remortgage Index shows a continued increase in the attractiveness of fixed rate mortgages.

  • FOS says offset complaints are on the rise

    4 Jul 2005

    Complaints about offset mortgages are on the rise, says the Financial Ombudsman Service in its latest annual review.It warns these mortgages are difficult for borrowers to understand and for lenders to administer.Brain Ewing, head of intermediary sales at Intelligence Finance, says it has not experienced rising complaints.But he says: "More lenders entering the market will lead to more people taking out offset mortgages."

  • FSA issues Treating Customers Fairly guidance

    6 Jul 2005

    In a paper entitled Treating Customers Fairly Building on Progress, the Financial Services Authority has set out the issues that firms should consider.

  • FSA targets illegal insurance brokers

    8 Jul 2005

    The FSA has begun a crackdown on firms which may be breaking the law by conducting unauthorised general insurance business since regulation began in January.

  • FTB confidence is still flat

    4 Jul 2005

    Despite the increase in the Stamp Duty threshold, confidence among first-time buyers is not improving, says Abbey.Its latest quarterly first-time buyers report reveals that in the past three months, the number of people confident about being able to buy their first home in the next year remained at just 5%. And 25% feel if they don't get on the property ladder soon, they'll never be able to.Abbey's research reveals that prospective home buyers see shared ownership and shared ...

  • FTB levels static for next few years, reveals CML

    5 Jul 2005

    The number of first-time buyers is likely to be at the upper end of between 360,000 to 430,000 a year for the next few years, research out from the Council of Mortgage Lenders has revealed.

  • Future-proofing CI definitions is crucial

    4 Jul 2005

    The Association of British Insurers' critical illness working party review has been making good progress over recent months. Though the proposals are not yet ready to go to consultation they are beginning to take shape.

  • Genesis appoints Neville Sharman as marketing director

    5 Jul 2005

    Genesis Home Loans has appointed Neville Sharman as its new marketing director.

  • Good time to consider equity release

    4 Jul 2005

    The market was moving along steadily for the first quarter of the year but this has been followed by a brisk rate war bubbling under, which should be sending out a message that there has never been a better time for consumers to consider equity release.There are now four drawdown schemes. The difference between the lowest and highest fixed rate for a 50,000 loan over 15 years is almost 12,000 in additional interest. This makes product selection an ongoing challenge.It will be ...

  • Hammond: UK needs to review tax law

    8 Jul 2005

    The Conservatives have proposed a new Tax Law Commission to review and simplify UK tax law. The Tax Law Commission, which expands on a proposal from the Chartered Institute of Taxation, will have the job of reviewing and making recommendations on the problems of UK Tax Law, which include: Excessive complexity

  • Home owning beats renting

    4 Jul 2005

    LOW INCOME home owners are not as likely to experience hardship to the same extent as low income tenants, even ifthe home owners have less money coming in.

  • Increased remortgaging sees drop in rental yields

    6 Jul 2005

    Quarterly rental yield figures released by Landlord Mortgages show that rental yields fell marginally across England from 6.08% in Q1 2005 to 5.97%in Q2 2005.

  • Internet Insite

    4 Jul 2005

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Kevin Paterson, sales director at Park Row Associates, takes a look at lender websites, working his way from A to Z

  • John Charcol admits it offered fee-free deals

    4 Jul 2005

    John Charcol has admitted it sent letters to the clients of departed employees, offering to do their next mortgages free.Following a story in Mortgage Strategy, the broker revealed it had contacted the client list of employees who had left the firm, but only to introduce new consultants and offer discounts.However, John Charcol has been forced to admit to the content of the letters after a copy came to the attention of Mortgage Strategy.It states: "To compensate you ...

  • John Charcol effect still intrigues us

    4 Jul 2005

    February 2000 is a landmark in the eyes of some in our industry. This is when the sale of John Charcol for a reported 100m to Bradford & Bingley triggered an idea that still affects the mortgage industry.

  • Kensington delivers above market growth with earnings up 17%

    8 Jul 2005

    Kensington delivered strong growth in the first half of 2005 with new business volume up 26% at 1.3bn.

  • L&H appoints head of branch development

    4 Jul 2005

    Sally Hanson has been appointed head of branch development for the UK's eighth largest building society, Leeds & Holbeck.

  • Leads firm thought to be no longer trading

    4 Jul 2005

    it is feared that lead generation firm Property Finder Worldwide is no longer trading and is in the process of being dissolved, leaving brokers with no leads and no refunds.Propertfinderworldwide.com is based in Surrey and listed at Companies House as being still active, but with a proposal to strike it off the Companies House register in the next three to four months.Julian Hope, director of Julian Hope Financial Services, says he has been stung by the website and has received ...

  • Lenders denies discrimination

    4 Jul 2005

    Northern Rock has denied its lending policy of offering a maximum LTV of 75% to non-European Economic Area nationals is discriminatory.Steven Humphreys, mortgage adviser at The Mortgage Shop, says that when he applied for a decision in principle on behalf of Zimbabwean clients who have lived in the UK for five years and have indefinite leave to stay in the country, he was told to categorise them as British citizens.He says when they found a property, a mortgage adviser at an ...

  • London to host 2012 Olympics

    6 Jul 2005

    London has won the race to host the 2012 Olympics, beating off competition from Paris, Madrid, New York and Moscow.

  • m2i runs training and competency workshops

    6 Jul 2005

    m2i is running countywide training and competency workshops for its members.

  • Mainstream lenders tap into the non-standard client base

    8 Jul 2005

    Datamonitor claims in a new report that the UK non-standard market is benefiting from the entry of large financial conglomerates and mainstream financial institutions.

  • Market Watch

    4 Jul 2005

    This week's villain of the week is Bank of Scotland for having such a misleading rates guide.

  • Mortgage Choice reveals further proc fees increase

    6 Jul 2005

    Mortgage Choice is to pass on a greater portion of its gross fee with SPML to the intermediary which has resulted in improved procuration fees for business received from July 4 2005.

  • Most brokers favour dedicated head for AMI

    4 Jul 2005

    A whopping 70% of intermediaries say the Association of Mortgage Intermediaries should have its own dedicated figurehead.Just 30% of the 2,937 readers who voted on Mortgage Strategy's website felt having Chris Cummings as joint director-general of both AMI and the Association of Independent Financial Advisers was acceptable.Clearly there is concern mortgage advisers could be shouted down by their brasher and louder cousins, IFAs.This week's question is: "Would you reconsider ...

  • Moved-on.com helps finance professionals stay in the loop

    6 Jul 2005

    A website has been launched that gives professionals from the world of finance the opportunity to maintain their contacts after leaving an employer for new pastures.By registering a name, contact details and employment history on moved-on.com, finance professionals can maintain a professional profile without the restrictions of being attached to any particular employer. moved-on.com ...

  • MPLC thought to have lost millions on Wow! and Genesis investments

    4 Jul 2005

    Mortgages PLC is thought to have sunk millions into both Genesis and Wow! but recouped a mere fraction of its investment.Industry sources say the failure of the lender's former strategy has spurred new owner Merrill Lynch to put the directors of MPLC under the spotlight.Last month Genesis was sold back to its directors for a rumoured fraction of the 3m plus price MPLC paid out for the firm in 2004.Last week Mortgage Strategy Online exclusively revealed that Wow! Mortgages, ...

  • MPPI alternative is launched by Alchemy

    4 Jul 2005

    A protection product has been designed and launched by consultancy firm Alchemy in response to criticisms of accident, sickness and unemployment or mortgage payment protection products currently available.Bob Perks, director of Alchemy, who was formerly business development director at Britannic Money and head of sales with Bristol & West, says the product should help appease Financial Services Authority fears about brokers selling ASU or MPPI when longer term cover such as permanent ...

  • MT offers Kensington clients extra benefits

    4 Jul 2005

    THE MORTGAGE Times Group has unveiled extra client benefits for packaged Kensington Mortgage applicants, available only to its members.

  • Netstep acquires 50% stake in Astute Mortgages

    6 Jul 2005

    Internet agency Netstep has acquired a 50% stake in online mortgage resource, Astute Mortgages.

  • Newcastle goes online to tackle money laundering

    4 Jul 2005

    Newcastle has turned to identity authentication company GB Group to ensure its compliance with money laundering regulations.

  • Northern Rock improves product range

    6 Jul 2005

    Northern Rock has reduced rates by 0.1% on its five, seven, 10 and 15-year flexible fixed products up to 85% LTV.

  • Number of regulated firms soars to 24,400

    4 Jul 2005

    The Financial Services Authority's annual report for 2004/05 reveals there are now 24,423 regulated firms.The figure has soared from 14,479 last year, largely as the result of the introduction of mortgage and general insurance regulation. The number of approved individuals stands at 165,587. Some 566 firms withdrew their application during the process.The Regulatory Decisions Committee considered 269 new cases, made up of 30 relating to authorisation refusals, 148 to mortgage ...

  • Olympic boost to house prices

    8 Jul 2005

    House prices in the capital could rise by a staggering 66% in the run up to the Olympics in 2012, research from Halifax reveals.

  • Openwork expands non-conforming offering

    8 Jul 2005

    Openwork, the new 2200 strong, directly authorised, multi-tie distribution company, has announced that Kensington Mortgages and GMAC Residential Funding have been added to its 36-strong lender panel, bringing the number up to 38.

  • Openwork launches with Enterprise Homeloans

    8 Jul 2005

    Openwork, the new multi-tie network, formerly known as Zurich Advice Network (ZAN), which went live on 1st June, has selected Enterprise Homeloans as its lead packager.

  • Our regulator is a descendant of Dick Turpin - a robber

    4 Jul 2005

    From Lee Martin I am disgusted with the powers that be in our industry, most specifically the statutory regulator. I am a hard working sole trader seeking to earn a living in this forest-killing industry where back stabbing and ripping off is rife and I've had enough of being directly authorised. I am also fed up with receiving seminar request after seminar request from the Financial Services Authority at costs that don't justify the results. The regulator is trying too hard to ...

  • paaleads.com appoints sales manager

    6 Jul 2005

    paaleads.com has appointed Hannah Skenfield as sales manager.

  • Paymentshield appoints sales and marketing director

    4 Jul 2005

    Paymentshield has appointed Chris Traynor, formerly UK Intermediary sales director for Prudential as sales and marketing director.

  • Pink ponders link-up to enter the overseas market

    4 Jul 2005

    Pink Home Loans is considering linking up with a specialist firm to branch out into the overseas mortgage market.The company is researching the market with the aim of launching into in the next few months. However, the watchword for the venture is caution.Tony Jones, managing director of Pink, says: "One of the concerns we have about going into this market is that there's quite a low conversion rate in terms of people completing."There's also the fact that mortgages abroad ...

  • Portman cuts three and five-year fixed rates

    4 Jul 2005

    Portman has trimmed down the interest rates on two of its core mortgage products.

  • POSD system accused of blighting client files

    4 Jul 2005

    GMAC-RFC's POSD decisioning system has been accused of leaving unnecessary footprints on clients' files and of inefficiency that means responses have had to be sent through the post.GMAC-RFC says the system can create 6,000 of new business for a broker by freeing up time.But Adrian Hollis, packager at The Complete Package says POSD could be adversely affecting its credibility with clients. Hollis put one case through and received no response after a couple of hours. When he ...

  • Power of the FSA is disproportionate

    4 Jul 2005

    Treating Customers Fairly will be the next big corporate growth area. Arguably, it already is. Having bulked up their staffing establishment to cope with Financial Services Authority regulation and compliance, companies now require even more staff to deliver the TCF monitoring, recording and policing the FSA requires.

  • Preferred appoints head of human resources

    4 Jul 2005

    Preferred has appointed Sue Greenland as head of human resources.

  • Problem with internet lead firms is low barrier to entry

    4 Jul 2005

    From Simon Baker I was saddened to read in a recent issue of Mortgage Strategy (June 20) about several brokers who had been ripped off by lead generation firm Premier Leads. The lead generation industry has for a long time been dominated by one b...

  • QDL strengthens lending relationships

    5 Jul 2005

    Quick Decision Loans, the Farnborough based sub-prime loan packager, has reviewed its lending panel.

  • RCH offers firms corporate booze-up with a difference

    4 Jul 2005

    RCH Communications is offering firms including lenders and brokers the chance to design, name and brand their own beer.Working in partnership with the award-winning Banks and Taylor brewery in Bedfordshire, firms can create their own beer, choosing the character, flavour, strength and even style of bottle.In addition, firms can name the beer and have a label produced reflecting their chosen name and a graphic which could be a corporate logo.Included in the package is a brewery ...

  • RICS says London Olympics will leave property price legacy

    6 Jul 2005

    The 2012 Olympics will have profound and long-lasting effects on local property markets in London, says the Royal Institute of Chartered Surveyors.

  • RICS to provide guidance for property management

    4 Jul 2005

    The Royal Institution of Chartered Surveyors is providing new guidance available for businesses of all shapes and sizes to better manage their property requirements.

  • Risk appetite still key to payment protection take-up

    8 Jul 2005

    Risk appetite remains the most significant factor in the take-up of mortgage payment protection says the Association of Mortgage Intermediaries June mortgage intermediary census. More than a third of respondents identified risk appetite as the single most influential factor in clients' decisions to take out MPPI. Other factors for selecting the insurance included concerns over employment status, 30%, past experience, 13%, and whether or not clients were first-time buyers, 5%. ...

  • Soften the blow of paying your fees

    4 Jul 2005

    Be warned - the thunder and lightning which illuminated much of the country last week could strike many thousands of mortgage broker offices in the days ahead. This latest tempest can be attributed to the arrival of Financial Services Authority fees invoices.

  • Spain is ripe for lifetime deals

    4 Jul 2005

    The Spanish mortgage market is calling out for lifetime mortgages to be introduced, a leading broker operating in Continental Europe has revealed.The gap is identified by Chris Tanner, sales and marketing director at Blevins Franks, as part of Mortgage Strategy's cover feature, published this week on pages 34-37.Tanner made the claim just days after Prime Minister Tony Blair assumed the rotating presidency of the Council of the European Union on July 1.Tanner argues ...

  • Super packagers can become lenders, says Mortgages PLC

    6 Jul 2005

    Mortgages PLC says the growing band of super packagers should consider the strategic option of becoming lenders.

  • Taylor's Tour.....

    4 Jul 2005

    Henry Taylor's day job is running a mortgage broking business in Eastbourne on the south coast of England, when not taking part in the Seat Cupra Championship

  • TBMC adds Platform

    8 Jul 2005

    Cardiff based buy-to-let and commercial specialist processor The Business Mortgage Company announced yestday that their own exclusives have been enhanced along with the new buy-to-let product range from Platform.

  • The Cheshire denies takeover rumours

    4 Jul 2005

    The Cheshire has denied press speculation it is in danger of being taking over by a larger player, saying it is pursuing its independent strategy.Press reports claim the society is dogged by falling profits and has set up a defence against a hostile takeover approach.Colin Whittle resigned as chief executive of The Cheshire last month after heading the society since May 1999. The decision, which was mutual between the board and Whittle, sparked rumours the society was in merger ...

  • The Mortgage Mole

    4 Jul 2005

    FLAT OUT Dinner with BM Solutions' Alan Cleary turned to farce for Strategy editor Robyn Hall last week. Hall had been in his favourite haunt all afternoon with Jonathan Burridge of Quantum fame, the former Private Label and Platform player forcing a large amount of Sancerre in his direction. So by the time he was ready for dinner Hall was in fine form. Or maybe not. "It was hilarious," Mole's man in the know confessed. "Hall forgot he'd booked into a hotel so he went ...

  • The saying 'too good to be true' was not invented for nothing

    8 Jul 2005

    Over the past few years hedge funds have gained accep-tance to the point where not only are they included in growing numbers of portfolios, they are almost considered an asset class in their own right.

  • TMW cuts its buy-to-let three-year fixed rates

    8 Jul 2005

    The Mortgage Works has reduced the pay rate on its three-year fixed rate buy-to-let mortgage from 4.85% to 4.69%.

  • Trigold says MTE move is first step

    4 Jul 2005

    Trigold, which owns the Electronic Trading Centre platform, says it welcomes the move by Mortgage Brain to make the Mortgage Trading Exchange available to the whole market, describing it as a good first step.Last week Mortgage Strategy exclusively revealed that MTE standalone was being launched under the banner of the first and only common trading platform accessible to all intermediaries. This came just a fortnight after MS launched its MTE For All campaign.Until ...

  • Two lenders issue revenue warnings

    4 Jul 2005

    Lloyds TSB and Alliance & Leicester are both warning revenue growth will be lower this year as a result of bad debt provisions.Lloyds TSB says profits for this year will be 8% lower as people struggle to keep up interest payments on credit cards, personal loans and mortgages. Earnings growth in consumer lending is expected to fall short of the 12% rise in the same period last year.Lloyds TSB's trading statement says: "This likely reduction is almost entirely due to changes in ...

  • UK economy eases into 2006

    4 Jul 2005

    The Bank of Scotland UK Index of Leading Economic Indicators points to a slight easing in UK economic growth in the second half of 2005 and into 2006.

  • UK market shows Europe the way

    4 Jul 2005

    With Prime Minister Tony Blair taking over the presidency of the EU and with the G8 summit having taken place in Edinburgh over the weekend, the UK rests on a European knife edge.

  • Unpaid renewals should help Network Data pay its fees

    4 Jul 2005

    From Kevin ThorntonI read Richard Griffiths' article on FSA fees (Mortgage Strategy June 27) with interest as a broker who introduced building and contents insurance through Network Data under the previous legislation. Since January 14, Network Data has refused to pay renewals on business written. This is of course an easy way to pay for its FSA fees - and a lot more besides. Network Data is not paying renewals because it has spoken to the regulator, about what I am not sure. ...

  • Value for money

    4 Jul 2005

    Finding the right people to work for you is key and it is only when you have found them that you will know how best to remunerate them, says Kevin Friend

  • Which? acknowledges FSA commitment to TCF

    6 Jul 2005

    Reacting to the FSA progress report on Treating Customers Fairly, Which? says an Olympian effort is needed to get customer care up to the gold standard.

  • Which? says Olympian effort needed for TCF

    8 Jul 2005

    Reacting to the recent progress report from the FSA on Treating Customers Fairly, Which? says an Olympian effort is needed to get customer care up to the gold standard.

  • Will clients prefer mutuals for sub-prime borrowing?

    4 Jul 2005

    The Derbyshire last week played down fears that increasing numbers of societies moving into sub-prime would muscle out specialist lenders.As clients opt for a lender with a recognised brand, it is feared that the result could be a downturn in business for niche players with no high street presence.Mark Blackwell, marketing director at The Derbyshire, says it is still early days and societies entering the market will have little impact on specialist lenders.He says: "It depends ...

  • With good systems, data security is no problem

    4 Jul 2005

    Identity fraud is a big issue so it is inevitable that the sensationalism surrounding offshore processing should hit a nerve.The article in The Sun two weeks ago detailing one offshore worker selling UK customers' financial details was a perfect example of this. It alleged that one individual was selling both credit and mortgage details to reporters on the black market.But it is offensive to imply that an overseas worker is more or less likely to break the rules on customer ...

  • Wolton Chartered Surveyors secures clients

    6 Jul 2005

    Wolton Chartered Surveyors is celebrating after winning work with more than 20 broker and packager firms since the beginning of the year.

  • Yorkshire launches divorce mortgage

    4 Jul 2005

    Yorkshire has launched a new mortgage proposition that has been designed to meet the needs of divorcees and those going through a relationship break up.

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