Mortgage Strategy
5 January 2009
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A&L launches fixed rates from 3.49%
7 Jan 2009
Alliance & Leicester has come out with a new mortgage range with rates from 3.49%.
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Alliance & Leicester launches broker exclusives
9 Jan 2009
Alliance & Leicester has unveiled three broker exclusive remortgage deals and reaffirmed its commitment to the broker market for 2009.
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AMI welcomes government support for homeowners
5 Jan 2009
The government has implemented changes to the Support for Mortgage Interest Scheme, a move welcomed by the Association of Mortgage Intermediaries.
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AMI: Interest Rate decision a distraction from lack of liquidity
7 Jan 2009
The Association of Mortgage Intermediaries has today warned that any cut in interest rates this week will not address the real issue in the UK economy.
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Assurant appoints international compliance officer
9 Jan 2009
Specialist insurance provider Assurant has appointed Andy Mills to the newly-created role of international compliance officer.
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Bank must keep up pressure on lenders
7 Jan 2009
Another 1% cut in the base rate is needed to keep up the pressure on lenders to pass on reductions to hard-pressed borrowers, online mortgage company www.mform.co.uk believes.
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Bank of England cuts rates to 1.5%
8 Jan 2009
The Bank of England has cut rates to 1.5%, making it the first time rates have fallen below 2% in the bank’s 314-year history.
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Bank of Ireland pulls from UK broker residential market
8 Jan 2009
Bank of Ireland will no longer accept new residential mortgage business through brokers in the UK.
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Barclays to make over 400 job cuts
8 Jan 2009
Barclays plans to shed more than 400 of its staff as part of a business review currently being carried out by the bank.
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BDS Secured expands bridging panel
8 Jan 2009
Master broker BDS Secured Loans has added three more bridging lenders to its panel.
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Bluefin brand launches with backing from AXA
6 Jan 2009
A group of financial services firms have come together with backing from AXA to launch under a single brand called Bluefin.
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Borrowers to arrange mortgages via email
5 Jan 2009
A brokerage has launched today which conducts the entire mortgage application process online and via email.
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Bristol & West Mortgages to exit broker market
8 Jan 2009
Bristol & West Mortgages is following in the footsteps of its parent Bank of Ireland and will no longer accept new business from UK brokers.
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Brokers not embracing equity release says Retirement Plus
8 Jan 2009
Research by Retirement Plus shows that over three-quarters, some 76% of independent financial advisers in the UK are yet to enter the equity release market.
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Car club promises savings for brokers
8 Jan 2009
Brokers could save as much as £3,000 a year by selling their car and paying a flat rate for how much they use their vehicle instead.
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Cattles to axe 1,000 staff
7 Jan 2009
Specialist lender Cattles has revealed that it will axe 1,000 staff as it looks to reduce new business volumes by 75% in its Welcome Finance subsidiary.
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Cattles to cut broker business dramatically
9 Jan 2009
Cattles says it plans to massively reduce its secured and unsecured lending through brokers in its Welcome Finance division but insists it will still maintain a presence in the broker market.
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Cattles to shed 1,000 staff
7 Jan 2009
Cattles is to axe 1,000 staff as it looks to reduce new business volumes by 75% in its Welcome Finance subsidiary.
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Clydesdale and Yorkshire parent mulls UK exit
6 Jan 2009
National Australia Bank may sell off its British banking subsidiaries Yorkshire and Clydesdale Banks as part of a wider review of its business operations.
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Consumers bury their heads in the sand over debt
6 Jan 2009
Over half of consumers worried about spiralling debt have not sought advice on how to manage their money problems, research from MoneyExpert.com reveals.
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Coventry introduces new year fixes
5 Jan 2009
Coventry is launching a new range of fixed rate mortgages for 2009.
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Economic certainty?
7 Jan 2009
The say that the only economic certainty is that if you put 10 economists in a room you will get 10 different viewpoints and predictions.
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European cash offers reprieve to small firms
9 Jan 2009
Small and medium-sized businesses could soon start gaining access to finance again thanks to a £650m cash injection from Europe.
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Evaluate promises three-minute update ahead of rate changes
8 Jan 2009
Evaluate Technologies has pledged to update its broker and consumer systems within three minutes should interest rates change later today.
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Exclusive Connections teams up with Assurant Solutions
8 Jan 2009
General Insurance provider Assurant Solutions Intermediary has joined Exclusive Connections panel of product provider.
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Few lenders pass on rate cut in full
5 Jan 2009
Only 19 lenders have passed on the rate cut in full over the last month, reveals data from Moneyfacts.co.uk.
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First European Securities reassures brokers over funding
8 Jan 2009
Secured loan lender First European Securities has received a funding boost and is on track to complete cases by January 19.
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FSA proposes to speed up FSCS payouts
7 Jan 2009
The Financial Services Authority is planning to ensure consumers are paid compensation within seven days if a bank fails.
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Future looking bleak for Loanmakers
8 Jan 2009
The directors of Loanmakers say they are struggling to find funding for the future of the secured loan master broker.
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Guardian launches arrears helpline
5 Jan 2009
Guardian Debt Management has launched a free and confidential arrears helpline intended to arm UK homeowners with all the necessary advice and tools to help them through their current financial situation.
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Hamptons staff placed on consultation
6 Jan 2009
Rumours are rife that staff at London-based brokerage Hamptons Mortgages have been placed on a 30-day consultation period.
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Harpenden poised for future growth
9 Jan 2009
Harpenden is moving to new premises in order to cater for future growth.
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HBOS being sued £16.7m over discrimination claims
5 Jan 2009
HBOS is being sued for a colossal £16.7m by a former Muslim banker who claims she suffered sexual, racial and religious discrimination at the hands of her male colleagues.
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History for the Bank of England base rate
8 Jan 2009
There you are then, the bookies were right and we only saw ahalf-hearted, half point cut in the Bank of England Base Rate today.
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HML expands Special Servicing team
5 Jan 2009
Ian Moore has been appointed as relationship development manager for HML's Special Servicing team.
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House prices fell 15.9% in 2008
6 Jan 2009
Nationwide says that house prices fell by 15.9% in 2008 with the average UK property now worth £153,000.
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House prices tumble 2.2% in December
5 Jan 2009
House prices dropped 2.2% in December 2008, pushing the average UK house price down to £159,799, the same level as August 2004, shows the Halifax House Price Index.
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HSBC comes out on top despite cutting out brokers
5 Jan 2009
HSBC has emerged as the most consistently competitive mortgage lender during 2008, reveals analysis by Mform.co.uk.
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Ian Moore joins HML's servicing team
5 Jan 2009
Ian Moore has been appointed as relationship development manager for HML's Special Servicing team.
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L&G forecasts big hit to remortgage market
7 Jan 2009
Legal & General mortgage club is predicting that the remortgage market is set to suffer as SVRs fall in line with base rate cuts.
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Leadbay appoints head of sales
8 Jan 2009
Leadbay has appointed Jonathan Barrett as the company’s new head of sales.
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LeadPoint develops more lead products for new year
5 Jan 2009
LeadPoint is branching out into at least ten different lead products this year to help brokers diversify.
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Link Lending teams up with Mortgage Times
9 Jan 2009
Short term lender Link Lending has joined forces with The Mortgage Times to offer its bridging and secured loan products via the packager and its network, Vision Network.
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London & European offers help to lenders facing repossessions
5 Jan 2009
London & European has launched a web-based service to help lenders manage the increasing pressures from the rapidly rising cases of repossessions.
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Management rejig at Phoebus Software
5 Jan 2009
Robert Lintonbon, formerly managing director of Phoebus Software is assuming the role of chief executive officer, while Paul Hunt, formerly finance director will become managing director.
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Mike Perry joins Clarity
8 Jan 2009
Mike Perry, the former associate director of sales and marketing at Skipton-owned Amber Home Loans, has joined Clarity Credit Management Solutions as sales and marketing director.
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Mike Perry joins Clarity as sales and marketing director
8 Jan 2009
Mike Perry has joined Northampton based Clarity Credit Management Solutions as sales and marketing director.
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Newcastle cuts up to 150 jobs
9 Jan 2009
Newcastle is to make up to 150 staff redundant just ten months after it proposed to create 500 jobs over the next five years.
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News Review: Limping into 2009
5 Jan 2009
As the financial services industry springs to life again after the festive period firms are bracing themselves for more shocks to the system, as the financial crisis looks set to deepen over the coming 12 months.
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Nigel Payne joins Assurant Solutions Intermediary
5 Jan 2009
Nigel Payne, ex-managing director of BM Solutions and The Mortgage Business has officially joined general insurance firm Assurant Solutions Intermediary as managing director.
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Paradigm members embrace protection products
5 Jan 2009
Members of Paradigm Mortgage Services are heeding the call to cross-sell protection products with only 4% of members not writing any protection business.
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Paul Fryers appointed MD of Adviser Matrix
6 Jan 2009
Paul Fryers is taking on the newly created role of managing director of the Adviser Matrix.
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Paul Fryers joins Adviser Matrix as MD
6 Jan 2009
Paul Fryers is taking on the newly created role of managing director of the Adviser Matrix.
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Personal insolvencies set to rocket in 2009
5 Jan 2009
KPMG is predicting that a whopping 150,000 people will either enter into an individual voluntary arrangement or declare themselves bankrupt in 2009.
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Personal insolvencies set to rocket in 2009
5 Jan 2009
Personal insolvencies are set to reach record levels in 2009, topping 150,000, KPMG predict.
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Pilot system launches to help brokers with TCF
7 Jan 2009
Competent Adviser has teamed up with software firm FinQS to launch a pilot system to help brokers prepare for visits from the Financial Services Authority.
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Pink calls for more LIBOR linked mortgages
5 Jan 2009
Pink Home Loans is appealing to lenders to offer more LIBOR linked mortgage products.
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Rice confirms RAMP closure
6 Jan 2009
John Rice, managing director of the Regulatory Association of Mortgage Packagers, has confirmed the organisation is set to close its doors after more than five years.
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Robert Lintonbon becomes CEO of Phoebus Software
5 Jan 2009
Robert Lintonbon, formerly managing director of Phoebus Software is assuming the role of chief executive officer, while Paul Hunt, formerly finance director will become managing director.
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Savills Lending Solutions and Tiuta launch suspension bridge
6 Jan 2009
Bridging provider Tiuta has joined forces with Savills Lending Solutions to launch a suspension bridge product, which allows borrowers to access funds within one hour.
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Savills Lending Solutions teams up with Tiuta
6 Jan 2009
Bridging provider Tiuta has joined forces with Savills Lending Solutions to launch a suspension bridge product, which allows borrowers to access funds within one hour.
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Saving Woolworths as well as the world
6 Jan 2009
With a big segment of the mortgage industry virtually nationalised and Indian car manufacturer Jaguar said to be in line for a state bailout, the big surprise as we entered 2009 was that the government didn’t step in to save Woolworths.
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Shadow MPC votes for 1% cut tomorrow
7 Jan 2009
Mortgage Strategys Shadow Monetary Policy Committee has voted for a 1% cut in the Bank of England base rate, which would bring the rate to the lowest it has ever been since the Bank was established 314 years ago.
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SHIP members predict boom in drawdown business
6 Jan 2009
Many equity release providers are predicting that drawdown business will account for 70% of the equity release market by 2010, research from Safe Home Income Plans shows.
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Short selling ban to end
5 Jan 2009
The ban on short selling UK shares will be lifted by the Financial Services Authority on January 16.
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Soliloquy of Silence
9 Jan 2009
It's hard sometimes to try and keep positive in the gloomy mist thatpervades around us all at the present time.
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Standard & Poor's upgrades Paragon
7 Jan 2009
Standard & Poor’s has upgraded the ratings on two of Paragon’s securitised portfolios.
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TMW launches buy-to-let products
6 Jan 2009
The Mortgage Works has launched two buy-to-let products for the new year, including a one-year fixed rate deal at 3.49%.
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Upheld advert complaint against Experian
7 Jan 2009
The Advertising Standards Authority has upheld a complaint made against credit information company Experian for a misleading radio advert.
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Welcome back to the madhouse
5 Jan 2009
With the likelihood of another Bank of England interest rate cut this week, the madhouse conditions in the financial world have started early this year.
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Where there's demand there's a way
9 Jan 2009
Any hopes that the new year would bring with it some good news are slowly being diminished as the bad news continues to trickle out the secured loan and mortgage markets.
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Xit2 looks to launch new products in 2009
8 Jan 2009
Xit2 is looking to extend its product range in 2009.
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Xit2 set to launch into arrears and debt management
8 Jan 2009
Property and mortgage outsourcing specialist Xit2 is developing a number of products to bring to the market later this year, including arrears and debt management.
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Yorkshire Bank offers fees-free remortgage deal
6 Jan 2009
Yorkshire Bank has launched a fees-free remortgage deal meaning savings for borrowers of up to £999.
