Mortgage Strategy
4 June 2007

  • FTB's hit hard by affordability constraints, says CML

    6 Jun 2007

    The Council of Mortgage Lenders says affordability constrains are worsening for first-time buyers.

  • Paterson boldly goes to Enterprise

    4 Jun 2007

    Kevin Paterson has quit his position as national sales director at Park Row Associates to take up the position of group marketing director at Enterprise Group. He will start his new position at the beginning of July, following six years with Park Row. Paterson says: "Enterprise has the opportunity to become the dominant player in UK mortgage distribution."

  • Taxman denies B2L crackdown

    4 Jun 2007

    Revenue & Customs has refuted claims made in The Times that it is planning a tax crackdown on buy-to-let landlords who have been claiming too much tax relief on their mortgages. It says where tax is owed it will use the "lightest possible touch".

  • £1,000 Per HIP to survive

    4 Jun 2007

    An out-of-work home in-spector predicts he would have to charge £1,000 for each Home Information Pack to make a living after August 1.

  • 3mc recruits underwriters

    6 Jun 2007

    Mortgage distributor and online packager 3mc has recruited four mortgage underwriters to join its existing teams of underwriters.

  • 83% Of brokers think HIPs should be scrapped

    4 Jun 2007

    The government says it will press ahead with Home Information Packs, but most Mortgage Strategy Online readers think they'd be better consigned to the dustbin. A massive 83% say HIPs should be scrapped while just 17% say they should come into force.

  • A deal to help people with disabilities

    4 Jun 2007

    One of the criticisms levelled at the lifetime mortgage market has been the lack of flexibility in its approach towards people living with disabilities.

  • A third of tenants are aware of deposit protection schemes

    4 Jun 2007

    A third of all tenants are aware of tenancy deposit protection schemes, a survey by the Tenancy Deposit Scheme reveals.

  • Abbey confirms 100% launch

    7 Jun 2007

    Abbey has confirmed that it will be returning to high LTV lending with the launch of a 100% product.

  • Abbey dips toe into high LTV

    4 Jun 2007

    Abbey is tipped to launch a high LTV product later this month, but industry experts are divided over whether it will offer 125% partsecured loans or 100% high value products. Abbey declined to comment but says it will launch the product imminently.

  • Adapt to survive the market turndown

    4 Jun 2007

    As the character Tancredi Falconeri comments in the film adaptation of the classic novel The Leopard, If we want things to stay as they are, things will have to change.

  • Advantage appointments

    4 Jun 2007

    Advantage has made three appointments to its business development team. Emma Burt joins from The Mortgage Works, Jonathan Stinton has account handling experience and spent two years at BT Retail and Paul White was formerly the Oxfordshire intermediary sales manager for for Cheltenham & Gloucester.

  • Advantage appoints operations manager

    7 Jun 2007

    Advantage has appointed Samantha Shamim as its new operations manager.

  • Advantage changes self-cert criteria

    4 Jun 2007

    Advantage has changed the criteria of its self-cert product. First-time buyers now have access to an increased LTV of 90%, up from 85%. In addition, fees can now be added up to a maximum LTV of 97%. Aimed at the mainstream market and launched in March this year, Advantage’s self-cert range of products is available to both employed and self-employed borrowers.

  • Advantage sales appointment

    4 Jun 2007

    Advantage has appointed Steve Mason as sales project manager, responsible for overseeing the delivery of major projects and ensuring lending targets are met. Mason previously spent 18 months as operations manager for sub-prime lending at Accord Mortgages.

  • Advantage selects Hometrack as AVM provider

    4 Jun 2007

    Advantage has assigned Hometrack to provide free instant property valuations through its online mortgage sourcing system.

  • AMPD opts for two platform providers

    4 Jun 2007

    The Alliance of Mortgage Packagers and Distributors has revealed it is going to use two technology platforms.

  • Another index to add to our confusion

    4 Jun 2007

    It's difficult to see why we need another property price index. We've already got data coming out our ears from numerous respected - and sometimes not so respected - organisations and financial institutions which should be giving us as much information as we need about the state of the housing market in general and house prices in particular.

  • AVM use will spread, says N4

    4 Jun 2007

    N4 Solutions predicts that automated valuation model technology will be used for a broad range of services, not just mortgage valuations. It says AVMs will allow brokers to manage clients' property portfolios just like investment advisers.

  • Banco Halifax Hispania opens Mallorca branch

    6 Jun 2007

    Banco Halifax Hispania has opened a new branch in Puerto Pollenca, Mallorca.

  • BDM of the Week

    4 Jun 2007

    I have been impressed with Faye Vaughan since I met her at an industry event and she offered an imaginative solution to a case for regular investors, says Anthony Pierce

  • BDS picks E2M as HIP provider

    7 Jun 2007

    BDS Mortgage Group has appointed Easier2Move as its main supplier of Home Information Packs.

  • Beacon appoints compliance manager

    5 Jun 2007

    Beacon Group has appointed of Bruce Collins as group compliance manager.

  • BM Solutions loses marketing manager to Kensington

    6 Jun 2007

    BM Solutions has confirmed that marketing manager Emma Burke has left to join Kensington Mortgages.

  • BoE freezes base rate

    7 Jun 2007

    The Bank of England's Monetary Policy Committee has voted to freeze interest rates at 5.5%.

  • Brian Pitt joins TFC

    8 Jun 2007

    TFC has appointed Brian Pitt to prepare for the next stage of development in the distribution market place.

  • Brokers should offer the full service

    4 Jun 2007

    Recent research by the Post Office has shown that UK home owners could be losing about 40m every year by taking insurance from their mortgage providers and not shopping around.

  • Brokers unclear on secured loans

    4 Jun 2007

    Lack of understanding of the secured loan market is deterring brokers from entering the sector, research from Promise Finance reveals.

  • Brokers, prepare for more complaints

    4 Jun 2007

    Brokers boast about never receiving complaints, but the FOS' latest review shows they are rising. So it's best to prepare for the worst and record everything from now on, says Rob Griffiths

  • Broomstick Ball

    4 Jun 2007

    Mortgage Strategy paid over £3,000 for a table at this year's Broomstick Ball at a charity auction in Epsom last Friday. The Broomstick Ball is organised by Deirdre McManus, head of sales at Bristol & West.

  • Burns-Anderson appoints Money Partners Touch to lender panel

    7 Jun 2007

    Burns-Anderson has appointed Money Partners Touch to its lender panel.

  • C2 and MPLC link up to launch two-year fixed deal

    4 Jun 2007

    C2-financial has teamed up with Mortgages PLC to launch a two-year fixed rate mortgage at 5.98%.

  • Charcol.co.uk to offer free sub-prime advice

    4 Jun 2007

    Charcol.co.uk is offering free advice to borrowers with poor credit histories in a bid to grow its presence in the sub-prime market.

  • Cheval offers same-day deal

    4 Jun 2007

    Cheval has unveiled a same-day closed bridging product designed to minimise bridging loan costs for borrowers.

  • CML urges Northern Ireland Assembly to help FTBs

    5 Jun 2007

    First-time buyer levels in Northern Ireland are at their lowest in 26 years, the Council of Mortgage Lenders has revealed.

  • CML's fees stance slammed

    4 Jun 2007

    A broker has branded the Council of Mortgage Lenders "duplicitous" for changing its stance on exit fees.

  • Coast to Coast teams up with Xit2

    8 Jun 2007

    Xit2s valuation exchange has been chosen by Coast to Coast Properties to manage its valuation instructions.

  • Commercial securitisation

    4 Jun 2007

    Commercial First has completed its sixth securitisation, known as BMF 6. Consisting of £500m of first charge mortgages, BMF 6 is the lender's largest securitisation to date.

  • Communication is a two-way street

    4 Jun 2007

    In a speech at the recent Mortgage Expo in Manchester, Mandy Spink, head of mortgages and credit unions at the Financial Services Authority, said that "after two and a half years of regulation, we would expect small mortgage firms to be in the habit of engaging with our communications". This means taking on board its published reviews, she added, and considering whether changes should be made to the way they operate.

  • Consumers seem optimistic about Blair's departure

    7 Jun 2007

    The Nationwide consumer confidence index rose nine points in May, reaching its highest level in 18 months.

  • Coventry to launch offset tracker

    4 Jun 2007

    The Coventry is launching an offset tracker mortgage through intermediaries on Thursday June 7.

  • Crown Equity Release becomes regulated

    7 Jun 2007

    Crown Equity Release has been regulated by the Financial Services Authority.

  • CurriculumVitae: Martin Gilsenan

    4 Jun 2007

    "I'd find it hard to live without my collection of Clash CDs."

  • DB launches fixed and tracker rates

    5 Jun 2007

    DB Mortgages has launched a series of two-year trackers and two and three-year fixed rates over its core range.

  • DB to launch direct-to-broker offering

    4 Jun 2007

    DB Mortgages is to launch a direct-to-broker online proposition but has assured packagers that it is not turning its back on them.

  • Dear Delia

    4 Jun 2007

    Dear Delia, Simon and Natalie want to purchase a property to let out and can raise £20,000 for a deposit from their own home. Their savings will just cover Stamp Duty and other costs. The house they have fallen in love with costs £170,000 but the £600 rent falls short of the rental income needed for lenders' 90% products. Their joint income is £55,000 and their monthly mortgage payments are £800. They have little other debt. What are their options?

  • Debt consolidation via mortgages is dangerous

    4 Jun 2007

    Moneynet.co.uk has warned that home owners could slip further into the red by consolidating debts through their mortgages.

  • Do you expect your parents to help you get on the property ladder?

    4 Jun 2007

    Glynne Wiley, 28, account assistantI will not ask for help from my parents when it comes to buying a home but I know they helped my brother. I don't think I will need money from my parents because I plan to wait until I am in a stable financial situation before I buy a property.

  • Easy steps towards energy efficiency

    4 Jun 2007

    Energy efficiency measures play an important role in reducing carbon dioxide emissions produced in the home. Even derelict and dilapidated properties can become energy efficient through sympathetic renovation.

  • ECB ups interest rates to 5%

    6 Jun 2007

    The European Central Bank has voted to up the interest rates by 25 basis points to 5% with effect from June 13 2007.

  • Edeus appoints debt recovery director

    6 Jun 2007

    edeus has appointed Fliss Dale as director of collections and recovery.

  • em- launches free valuation deal

    4 Jun 2007

    em– has launched a free valuations and no application fee offer across the DB Mortgages product range, available from the June 4.

  • Em-financial picks prize winners

    4 Jun 2007

    Em-financial has revealed the winners of its May roadshow competitions. They were Lee Mynard from Mortgages 360 and Chris Banks from A C Finance.

  • Energy assessor numbers up 50% in two weeks

    7 Jun 2007

    The number of qualified energy assessors has grown by 50% in the past two weeks to nearly 800, The Partnership has revealed.

  • energy-assessors.com shuts up shop leaving 100 jobless

    8 Jun 2007

    A hundred people have been left jobless after energy-assessors.com was forced to close its doors earlier this week.

  • Enterprise Partners teams up with Creative

    6 Jun 2007

    Enterprise Partners has added Creative Mortgage Solutions to its list of significant partnerships.

  • Equity Release Solutions appoints BDM

    4 Jun 2007

    Equity Release Solutions has appointed Mike Lewis as business development manager.

  • Estate agents make a killing

    4 Jun 2007

    Estate agency Wow estimates that the UK spends £3.5bn on estate agency fees every year. When the financial advice offered by many estate agents is factored in, the sum rises to about £5bn a year.

  • Estate agents will be pack leaders

    4 Jun 2007

    The delay in the introduction of HIPs means providers' pricing models have been disrupted but estate agents that offer them free are still likely to dominate the market, says Frank Eve

  • Even FSA-approved trail commission would be too much of a risk for brokers

    4 Jun 2007

    Mortgage Strategy's cover story in the May 21 issue entitled 'Trouble with fees' informed the industry debate which is probably more fervent than any other at the moment.

  • Ex-brokers launch online specialist sourcing system

    4 Jun 2007

    An online sourcing system for the specialist lending market that combines real-time credit searches and a multi-lender cascade has been launched.

  • Exclusive deal on secured loans

    4 Jun 2007

    Enterprise Finance has launched an exclusive range of loans in partnership with Kensington Secured Loans. The deals include features such as self-cert for employed and self-employed customers, maximum loans of £150,000, no higher lending restrictions and options for first-time buyers.

  • FISA to seek legal advice over Hurstanger case

    7 Jun 2007

    The Finance Trading Standards Association is urgently seeking legal advice for its members following the landmark Hurstanger case.

  • Freedom appoints BDMs

    6 Jun 2007

    Freedom Lending has appointed three business development managers to its sales team.

  • Friends reunited as BM Solutions' BDM joins edeus

    4 Jun 2007

    Former BM Solutions business development manager Vicky Jackson has joined edeus.

  • FSA cuts fees for mortgage firms

    4 Jun 2007

    The Financial Services Authority has cut the annual fees mortgage firms have to pay.

  • FSA roadshow visits Birmingham and Liverpool

    6 Jun 2007

    The Financial Services Authority is offering advisers and brokers in Birmingham and Liverpool free roadshows. The Roadshows, from June 19 to June 21, aim to help small firms understand common areas which are currently topical and relevant to them. They are run by FSA staff who supervise small firms and are a high-level view of topical issues and findings from recent FSA work. They will also cover Treating Customers Fairly and principles-based regulation.

  • FSA unveils latest roadshow dates

    4 Jun 2007

    The Financial Services Authority is offering financial advisers, mortgage intermediaries and general insurance brokers free surgeries.

  • GE Money Home Lending warns against kitchen refits

    4 Jun 2007

    Fitting a new kitchen or bathroom might not be the most cost effective home improvement to increase the value of a property, research from GE Money Home Lending warns.

  • Get on the right side of the IT divide

    4 Jun 2007

    Imagine a client coming into a broker's office with their financial and social history gathered on a microchip that also provides access to their banking arrangements.

  • Get together to help owners and FTBs

    4 Jun 2007

    There is a growing fear in the industry that the Bank of England will raise the base rate again this Thursday, as it emerged that year-on-year mortgage approvals edged up only slightly in April.

  • GHL quits PMPA to join RAMP

    4 Jun 2007

    GHL Group has left the Professional Mortgage Packager Alliance to join the Regulatory Association of Mortgage Packagers. But it denies that its move is a result of the resignation of Jon O'Brien, former operations director at PMPA. KGB Packaging also recently left PMPA for RAMP, but also denies this is linked to O'Brien's departure.

  • Godiva launches fees-free deals

    5 Jun 2007

    Godiva Mortgages has launched two fee-free products in its buy-to-let and self-cert ranges.

  • Halifax price index shows market slowdown

    7 Jun 2007

    House prices in the UK grew at their slowest rate this year during May, research from Halifax reveals.

  • Hard work has won back public trust

    4 Jun 2007

    It can't have escaped the notice of protection professionals that the industry has been making headway when it comes to improving things for consumers. In particular, a lot of work has been done to cut the number of declined claims.

  • Help signs up to

    4 Jun 2007

    courier service Help Personal Finance has signed a deal with Your Case Signed in a bid to slash application-to-completion times. Your Case Signed will offer a courier service, which will collect signed documents from clients and drop them off with the firm. It will then underwrite the cases and forward them to lenders.

  • HIP change will hit downsizers

    4 Jun 2007

    Sellers looking to downsize from four-bedroom properties could be left hundreds of pounds out of pocket following the government's decision to alter Home Information Packs' criteria.

  • HIP confusion could destroy market

    4 Jun 2007

    There is a risk of the housing market imploding it the government doesn't sort out the confusion surrounding HIPs in the time it has before launch, says Sue Read

  • HIPs will cause problems for people wanting to downsize

    4 Jun 2007

    After the government's latest U-turn, only houses with four bedrooms or more will require HIPs. Many pundits have latched on to the problem of defining what constitutes a four-bedroom house, but what about the owners of properties that clearly have four bedrooms or above but wish to downsize to three-bedroom houses?

  • Hipstar boss Stephen Maskens quits

    5 Jun 2007

    Stephen Maskens, chief executive officer of Hipstar, has sensationally quit the Network Data-owned Home Information Pack provider today.

  • Housing market slowed in May

    4 Jun 2007

    Nationwide has revealed that the UK housing market continued to slow in May. House prices rose by 0.5% in May, a slowdown from April's 0.9% rise. The average price rose from £180,314 to £181,584.

  • IHI calls for compensation for home inspectors

    4 Jun 2007

    The Institute of Home Inspection is calling on all those qualified or in training to be a home inspector to fight back to keep the Home Information Pack industry alive.

  • Industry welcomes BoE rate freeze

    7 Jun 2007

    The industry has welcomed the Bank of England's decision to freeze interest rates as good news for mortgage borrowers.

  • Infinity launches affordability calculator

    6 Jun 2007

    Infinity has launched an affordability calculator for its intermediaries to enable them to determine an applicant’s borrowing potential.

  • ING available through mform.co.uk

    7 Jun 2007

    ING Direct is now offering its products via mform.co.uk.

  • InterBay launches online calculator

    4 Jun 2007

    InterBay Commercial has launched an online calculator that allows brokers to compare prices on loan repayment options for commercial mortgages. Brokers can input client and property details to calculate monthly repayments, interest rates and proc fees. By changing variables, brokers can source the most competitive deals either by paying higher completion fees to reduce rates or by changing loan terms to reduce borrowers' monthly repayments.

  • Investec offer buoys Kensington

    4 Jun 2007

    The fortunes of Kensington Group improved last week after it revealed that an acquisition offer from Investec could provide the capital needed for it to expand into new mar-kets, including commercial mortgages.

  • Kensington needs an IT boost from Investec

    4 Jun 2007

    Buyers have been sniffing around Kensington Group for some time so it was no surprise when the news of a formal offer finally broke.

  • Knights' moves will change the game

    4 Jun 2007

    It's all change for the Knights at GMAC-RFC but it's more likely to be a case of Simon building on the strong foundations Stephen has laid than a fresh start for the company, says Mark Harris

  • KRS to expand sales team

    5 Jun 2007

    Key Retirement Solutions has revealed it is to expand its adviser workforce.

  • Leads that brokers should follow

    4 Jun 2007

    As some brokers put more effort into their relationships with lead generation firms, the sector is emerging as a credible part of the mortgage market, says Justine Tomlinson

  • Lenders should clamp down on rogue brokers to cut fraud

    4 Jun 2007

    I write having just read Kevin Paterson's article in which he asserts that we must all go electronic to tackle fraud (Mortgage Strategy May 21).

  • Let brokers judge packagers' service

    4 Jun 2007

    Everywhere you look these days there is competition, and various sectors highlight this with the use of tables. Schools, football teams and even the NHS measure their results by publishing tables.

  • Lib Dems demand social housing

    4 Jun 2007

    The Liberal Democrats have called on the government to boost Britain's social housing. The call follows a report by Aberdeen and Loughborough universities, which warned that the housing supply crisis is threatening the younger generation's future.

  • Lib Dems warn more could struggle

    4 Jun 2007

    The Liberal Democrat Party has warned that more than the predicted one million home owners may be affected by rising mortgage rates.

  • Limited free legals offer from Pink

    4 Jun 2007

    Pink Home Loans is offering free legals on five of the most popular lenders on its packaged submission panel. The offer is open until August 31 2007 for all properties in England and Wales.

  • Lloyds says it is on track to make double digit profits

    8 Jun 2007

    Lloyds TSB says it is set for double digit growth in profit for the first half of the year.

  • Manchester appointment

    4 Jun 2007

    Manchester has appointed Paul Rumbold as group development director. Hewas previously marketing and sales director at Affirmative.

  • Many lenders will consider fast-track at 75% LTV

    4 Jun 2007

    I recently got around to reading Alan Cleary's response to the Dilemma featured in the January 29 issue of Mortgage Strategy.

  • Marketwatch

    4 Jun 2007

    Swaps raced up again last week. I am shortly going to have to increase the scale of the Y axis on the graph for the second time since I've been writing it. Two-year swaps have gone up by 1.75% in just under two years. At 6.07% they are more than 0.5% above the base rate.

  • Me & My Car

    4 Jun 2007

    Mixing business with pleasure can be a good idea when it involves racing a souped-up Mini driven by our very own Stig in an exciting championship, says Sheila Jannels

  • Merger threat to surveyors

    4 Jun 2007

    Small surveyor firms could be forced to consolidate if rum-ours that e.surv is looking to incorporate Barclays' surveying and valuation firm Ekins and Cheltenham & Gloucester's valuations arm prove to be true.

  • Merging Market

    4 Jun 2007

    Competitive and regulatory pressures have pushed building societies into mergers, but Harvey Jones examines whether they are good for brokers and their clients

  • Merrill in frame to back Prust's new lender

    4 Jun 2007

    Rumours are rife that Merrill Lynch will back the new lender headed by the ex-Southern Pacific Mortgage Limited dream team of John Prust, Bill Cherry and Stuart Aitken.

  • MEX revises criteria for experienced landlords

    4 Jun 2007

    Mortgage Express has extended its buy-to-let lending criteria to offer en-hanced LTVs to landlords with one year's experienceIn addition to MEX's core criteria of up to 85% LTV with 125% rental cover, landlords who have been in the market for a year will have a choice of up to 85% LTV at 110% rental cover or 90% LTV at 125% rental cover.

  • Moneysupermarket.com moves closer to float

    7 Jun 2007

    The prospects of price comparison site moneysupermarket.com moved a step closer this week after co-founder Duncan Cameron was bought out for 162 million. Cameron agreed to sell most of his 47% stake to a company controlled by moneysupermarket.com chief executive and fellow founder Simon Nixon.The website is thought to want a listing on the London Stock Market which could see it valued at one billion pounds.More details to follow.

  • Mortgage demand moderating

    4 Jun 2007

    April lending figures from the British Bankers' Association show mortgage demand is moderating in the face of rising rates. April's gross mortgage lending of £17.3bn was 12% up on April 2006, reflecting a 10% annual growth in house prices and strong remortgaging activity.

  • Mortgage Plus revamped

    4 Jun 2007

    BM Solutions has upped its game in the 125% LTV sector with criteria changes and a proc fee promotion.

  • Mortgage Strategy comes out top in reader survey

    4 Jun 2007

    Mortgage Strategy was crowned the top UK mortgage trade title in a poll of brokers by the Mortgage Support Network last week.

  • MortgageStream expands head office

    7 Jun 2007

    MortgageStream has doubled its head office to cope with the growing expansion of its sales force.

  • MP calls for better bank checks

    4 Jun 2007

    Labour MP Jim Cousins, who sits on the Treasury select committee, has called for banks to introduce a code of practice and carry out regular checks to ensure there are no errors in customer repayments.

  • Muddled thinking on HIPs must end

    4 Jun 2007

    The government's humiliating U-turn over Home Information Packs followed last minute negotiations with the Royal Institution of Chartered Surveyors.

  • NAEA to move after 30 years

    4 Jun 2007

    The National Association of Estate Agents is to move after nearly 30 years in its present Warwick offices. It will move to larger offices on the Tournament Fields business park in Warwick.

  • Nationwide raises rates on deals

    4 Jun 2007

    Nationwide has increased the rates on its fixed rate and tracker mortgages. Its range now includes a two-year fixed rate with a £499 fee from 5.68%, a two-year fixed rate with no fee from 6.08% and a two-year tracker with a £599 fee from 5.28%.

  • Nemo launches loyalty scheme

    5 Jun 2007

    Nemo Personal Finance is launching a loyalty scheme called Quarterback, which gives its secured loan customers a quarter of their interest back after 10 years.

  • Nemo Personal Finance launches Quarterback scheme

    4 Jun 2007

    Nemo Personal Finance is launching Quarterback, a new loyalty scheme, which gives its secured loan customers a quarter of their interest back after ten years. It will typically be taken out by customers wanting to consolidate their debts or make home improvements. It works by giving customers, who take out a secured loan over a period of ten years or more, 25% of the interest back.

  • Never say never to secured loans

    4 Jun 2007

    In a recent news story, when a broker was asked whether a new sourcing system for secured loans would be of value to him, he was adamant there were no circumstances under which he would recommend secured loans.

  • Nine out of 10 home movers against HIPs

    7 Jun 2007

    Nine out of 10 home movers polled by ConveyanceLink are against the implementation of Home Information Packs.

  • NU launches national equity release promotions

    6 Jun 2007

    Norwich Union has launched a consumer print and broadcast advertising campaign for its equity release proposition.

  • Numbers up at Manchester Expo

    4 Jun 2007

    Mortgage Business Expo Manchester has reported a 10% increase in visitors in 2007 compared with the 2006 show. It estimates that 2,670 people visited the show this year. The Council of Mortgage Lenders recently blamed parental financial help for contributing to house price inflation and locking out first-time buyers. It says nearly one-third of potential first-timers anticipate getting parental help but warns a generation may be unable to buy as this pushes up house prices.

  • Offset deals can bring tax benefits

    4 Jun 2007

    An offset mortgage is simple in concept and does what it says on the tin - it offsets savings against mortgage debt so borrowers only pay interest on the difference.

  • Out of the rubble

    4 Jun 2007

    Home Information Packs have been delayed and face an uncertain future, but the market could benefit if lawyers learn their lessons, says Richard Barnett

  • Packager Power

    4 Jun 2007

    With about 260,000 UK citizens owning property abroad, overseas investment is becoming more important to brokers. Can packagers get involved? Will EU legislation help the process when countries still operate different models?Bill Dudgeon is managing director of DB Mortgages

  • Payment holiday on secured loans

    4 Jun 2007

    The Select Partnership is offering a threemonth deferred payment period on selected secured loan products.

  • Picture plans broker offering

    4 Jun 2007

    Picture Financial is preparing to re-enter the intermediary sector after stepping up its knowledge of the broker market.

  • Pink gives intermediaries the chance to voice their views

    7 Jun 2007

    Pink Home Loans has launched its fourteenth Pink 1000 index survey, which gives intermediaries the chance to voice their views on a variety of industry issues.

  • PMPA launches self-cert with TMB

    8 Jun 2007

    The Professional Mortgage Packagers Alliance has launched an exclusive product with limited distribution through The Mortgage Business.

  • PMPA pilots near-prime product with Preferred

    5 Jun 2007

    The Professional Mortgage Packagers Alliance has revealed a pilot exclusive from Preferred.

  • Post Office and BoI stay together

    4 Jun 2007

    Post Office Financial Services and Bank of Ireland will extend their joint venture until 2020. They plan to create a long-term branch network.

  • Praxis pledges to help the environment

    6 Jun 2007

    Praxis celebrated World Environment Day yesterday with by getting its staff to make green pledges from its staff and by supporting carbon-offsetting charity PURE.

  • Prices up, says Land Registry

    4 Jun 2007

    Land Registry data reveals the average house price for England and Wales rose by 0.6% in April to £179,935, while average London house prices hit £333,785. The annual change was 9.1%.

  • Product ideas must start with clients

    4 Jun 2007

    Residential lending is heading into choppy waters. For this reason, lenders that want sensible, risk-adjusted returns should be thoughtful in their approach.

  • RBS sales appointment

    4 Jun 2007

    Graham Felstead has been appointed head of corporate sales at the Royal Bank of Scotland Intermediary Partners. He was previously regional sales manager at the lender and has worked for RBS for nearly six years.

  • RBSIP extends Natwest fees deal

    7 Jun 2007

    RBS Intermediary Partners is extending the NatWest five for two fees deal for intermediaries' buy-to-let remortgage clients.

  • RBSIP makes 30 redundancies

    6 Jun 2007

    Royal Bank of Scotland’s union Amicus has confirmed that 30 people have been offered voluntary redundancies at Royal Bank of Scotland Intermediary Partners.

  • Rental demand is slowing

    4 Jun 2007

    Figures from the Royal Institution of Chartered Surveyors reveal that rental demand is slowing as rising rents and falling unemployment encourage an increase in the number of house sales.

  • RICS launches new regulatory regime

    4 Jun 2007

    Members of the Royal Institution of Chartered Surveyors will face a simplified set of rules today, under a new “arms-length regime”.

  • Rule change boost for equity release

    4 Jun 2007

    The government's plan to scrap the need to get planning permission for minor home improvements could boost the equity release market, says In Retirement Services. It estimates 47% of its clients use equity release to fund home improvements.

  • S&S brand to keep brokers informed

    4 Jun 2007

    Stroud & Swindon is planning to launch a specialist subsidiary brand later this year targeting brokers with the promise to keep them in the loop over their clients' financial situations.

  • Satellite packager could go it alone

    4 Jun 2007

    Lighthouse Group has launched a satellite packager in partnership with The Mortgages Times Group that it says has the potential to become a rival packager in its own right.

  • Shadow MPC

    4 Jun 2007

    With uncertain economic times ahead, the Mortgage Strategy GE Money Home Lending Shadow Monetary Policy Committee is in favour of holding the base rate at 5.50% to see what the effects of the recent rises will be as they feed through the economy

  • Short-term fixes are OK for some

    4 Jun 2007

    Despite what John Wriglesworth says, brokers will not be doing their clients justice if they dismiss the possibility of recommending two-year fixed rate deals, says Sally Laker

  • Signs show rate rises are starting to bite

    4 Jun 2007

    Interest rates have continued to increase and are widely expected to rise again.

  • Specialist desk for TMA club members

    4 Jun 2007

    The Mortgage Alliance has launched a mortgage desk dedicated to dealing with specialist cases.

  • Stealthy moves into specialist areas

    4 Jun 2007

    Over the past few years, we have seen more change in the mortgage market than ever before. Specialist lenders are moving into the prime market but of more interest is how prime and high street lenders are moving into specialist sectors.

  • Stop thinking small and start building big

    4 Jun 2007

    Differentials in price increases between flats and houses are at the centre of new Land Registry statistics on the housing market.

  • Swift appoints finance director

    7 Jun 2007

    Swift Group has appointed Amanda Brooks as finance director.

  • Table of all networks would not compare like with like

    4 Jun 2007

    In your letters pages in the May 28 issue, Justine Tomlinson of Mortgage Next says size doesn't matter as much as quality. Ho hum, where do I start?

  • Targeted data to sharpen our focus

    4 Jun 2007

    The Financial Services Authority draws information from a variety of sources, but product sales data in particular has proven to be vital to the regulator's work in the market, says Paul Hunter

  • The Mortgage Mole

    4 Jun 2007

    Digging the dirt in the mortgage world...

  • The numbers paint a positive picture

    4 Jun 2007

    Say what you like about this industry but when it comes down to it, we all play the numbers game. 'Lies, damn lies and statistics' is a catchy aphorism, but it's better to put your faith in numbers - as long as they come from reliable sources - than any other method of long-term benchmarking.

  • The Yorkshire plans expansion

    4 Jun 2007

    The Yorkshire says it will open 15 branches in the next three years, taking the society's network of branches to 134. Managers for the branches have already been hired and the society is considering further appointments.

  • This Week's Dilemma

    4 Jun 2007

    Over the past 10 years, I have built a thriving packaging business and am now being courted by a buyer who won't take no for an answer. The buyer is persuasive and obviously keen for me to agree, so they are bound to make such an attractive cash offer that I would be foolish to turn it down. But I'm too young to retire and spend my life playing golf. I've still got loads of energy and I want to remain active in the industry. What should I do?

  • Time to put HIPs out of their misery

    4 Jun 2007

    In my day job as a communication and management consultant, I'm often asked to evaluate the effectiveness of corporate communications and then deliver or refine internal and external strategies. I find that to support my recommendations, it helps to show clients examples of best and worst practice.

  • Title Deed: UX Mortgages

    4 Jun 2007

    "Our first company was founded in August 2002 and concentrated on buy-to-let properties," says Daljit Sandhu, director of UX Mortgages.

  • TML appoints head of affinity partners

    6 Jun 2007

    The Mortgage Lender has appointed Jeff Caiger as head of affinity partners.

  • Tomorrow brand could soon be yesterday's news

    4 Jun 2007

    The recently rebranded Tomorrow could be yesterday's news if LV= exercises its option to acquire the business from Swiss Re later this year.

  • Towergate sale could net founder 2bn

    4 Jun 2007

    Towergate founder Peter Cullum could pocket up to 2bn if he takes up one of several acquisition bids made by private equity firms last week.

  • UCB extends

    4 Jun 2007

  • Unity cuts rental cover on B2L deals

    4 Jun 2007

    Unity Homeloans has reduced rental cover to 75% on all prime buy-to-let cases packaged through BDS Packaging. Rates start from 5.75% for a two-year fixed deal with no higher lending charge.

  • We have a good way of giving brokers data on their clients

    4 Jun 2007

    I read Sue Read's article in the May 14 issue of Mortgage Strategy concerning lenders sharing information with brokers with interest. While I agree with her in principle, I'm not sure her solution is easily manageable, certainly from a lender's perspective. At least, I imagine that's what many of them will claim.

  • Website calls for family homes

    4 Jun 2007

    Smartnewhomes.com has renewed its call for more family homes as flats continue to dominate the newbuild market. David Bexon, managing director of smartnewhomes. com, says: "The lack of suitable family homes is a serious issue and cannot be ignored."

  • Website points brokers towards top proc fees

    4 Jun 2007

    A website is offering brokers the chance to source packagers that offer the best proc fees.

  • What impact will last month's base rate rise have on the buy-to-let market?

    4 Jun 2007

    The latest base rate rise may be a reality check for investors but most still see capital appreciation as their main source of profit, say our experts

  • Woolwich launches fix and track mortgage

    4 Jun 2007

    Woolwich is launching a fix and track mortgage to try and beat any base rate rises within the next 12 months.

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