Mortgage Strategy
5 March 2007

  • Debt specialist changes its name

    5 Mar 2007

    Compass Finance Group, the debt solutions specialist, has changed its name to The Debt Advisor Group. The name change was approved by shareholders at the company's annual general meeting on February 23 and has been implemented to reflect more accurately the products and services provided by the group.

  • Free client portal from IntelliFlo

    5 Mar 2007

    IntelliFlo, the financial services technology provider, has launched a client portal that is available to users of Intelligent Office at no extra cost.

  • MS podcasts available

    5 Mar 2007

    Mortgage Strategy Online readers can now download podcast recordings of MS round tables debates as well as from MSTV. They can also post questions for future round tables via The Big Debate link. The next round table is on March 7 when repre-sentatives from BM Solutions, The Mortgage Works and Bank of Ireland will be discussing buy-to-let.

  • N&P launches long-term fixes

    5 Mar 2007

    Norwich and Peterborough has launched two long-term fixed rates. The 15-year fixed product has a rate of 5.48% while the 20-year deal has a 5.28% rate. Both have maximum LTVs of 90%.

  • TMP brokers to use Convex

    5 Mar 2007

    Intermediaries at The Money Portal are to use Convex Conveyancing's online system. Duncan Samuel, managing director of Convex, says: "Our conveyancing system can facilitate the purchasing of a property using a fully qualified solicitor 41% quicker than a traditional conveyancer on average. We also offer an anti-gazumping option."

  • Woolwich unveils two-year fixed rate

    5 Mar 2007

    Woolwich is returning to the two-year fixed rate market as swap rates begin to stabilise. The new rate will be set at 5.39%, with a follow-on rate of 0.95% above base rate. The product will complement the range of tracker, capped, offset and long-term fixed rates already on offer.

  • 89% Of brokers want HIP launch to be postponed

    5 Mar 2007

    Mortgage Strategy Online readers have made it clear how they feel about Home Information Packs, with 89% supporting the Council of Mortgage Lenders' call for the government to postpone their implementation. Just 11% think HIPs should come in on June 1.

  • Accord offers limited credit repair fixed rates

    6 Mar 2007

    Accord has released several limited availability special credit repair products. The products are at one fixed rate at each adversity level, whatever the LTV. Product fees for all the new products are £1,495. Two-year fixed rates are available from near prime to unlimited with full status and self-cert options. These are at 5.75% full status, near prime, up to 90% LTV and 6.00% self-cert, near prime, up to 85% LTV. Accord is also offering a five-year fixed rate ...

  • Advisers look to equity release

    5 Mar 2007

    Almost a quarter of advisers expect equity release products such as lifetime mortgages to be a key growth area over the next five years, says Prudential. Its annual survey also reveals that for over 50% of advisers, retirement planning is top of their clients' most pressing financial concerns.

  • Affirmative and The Mortgage Force launch bridging venture

    7 Mar 2007

    Bridging lender Affirmative has linked up with The Mortgage Force to support its growth in the bridging loans market.

  • AfI to sponsor AMI dinner again

    5 Mar 2007

    Abbey for Intermediaries will be the main sponsor of the Association of Mortgage Intermediaries' annual dinner on June 19. This is the second year the lender has sponsored the event.

  • AHIPP says there is no shortgage of energy assessors

    8 Mar 2007

    The Association of Home Information Pack Providers says that its reaserch has shown that there is not a shortage of energy assessors.

  • AMI predicts the regulation of second charge mortgages

    8 Mar 2007

    The EU directive on harmonised mortgage regulation in member states could force the regulation of second charge mortgages, predicts Chris Cummings, director general of the Association of Mortgage Intermediaries.

  • Are first-time buyers being priced off the ladder by the booming buy-to-let market?

    5 Mar 2007

    The government should address the undersupply of housing and Stamp Duty thresholds rather than blame buy-to-let, say our experts

  • Armed forces get the chance to buy abroad

    5 Mar 2007

    Conti Financial has teamed up with Forces Financial to offer members of the armed forces, the police and Ministry of Defence employees the chance to buy abroad.

  • B2L change for West Brom

    5 Mar 2007

    West Brom for Intermediaries has switched its buy-to-let rental calculations to a fixed notional rate of 5.95%. If rates rise the calculation will remain unaffected.

  • B2L market could grow by 40% in next decade

    5 Mar 2007

    Alliance & Leicester says the buy-to-let market could grow by a whopping 40% in the next 10 years.

  • Barclays dragged in US sub-prime saga

    7 Mar 2007

    Barclays faces being caught up in the US sub-prime lending troubles after it revealed that it has a $1bn credit line with one of the tarnished firms in the debacle.The line is lent to New Century Financial, which has admitted that it is close to breaching its sub-prime loan covenant. Its shares dropped 63% after this announcment.Morgan Stanley, Goldman Sachs and UBS also have credit lines with New Century.It is unknown if Barclays is to sell some of the risk with the troubled firm.

  • BDM of the week

    5 Mar 2007

    Simon Baker is commercially-minded and his knowledge of the mortgage market allows us to manage the expectations of our introducers, says Jason Badla

  • Beacon adjusts B2L criteria

    7 Mar 2007

    Beacon Homeloans has adjusted its buy-to-let product range by adjusting its near prime criteria.

  • Beacon launches into Right to Buy

    5 Mar 2007

    Beacon Homeloans has launched into the Right to Buy sector.

  • Big banks are acting like big bullies

    5 Mar 2007

    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

  • Blemain Group appoints BDM

    5 Mar 2007

    David Mullins has joined the Blemain Group as business development manager for the north of England region.

  • Blogger calls for justice

    5 Mar 2007

    A former Paymentshield member blogging for justice over cancelled trail commission is rallying support from other claimants.

  • BM Solutions plans to offer B2L cascading

    5 Mar 2007

    BM Solutions has confirmed it is working on a technology solution that will allow it to offer buy-to-let cascading.

  • BM Solutions to fund Pink B2L exclusive

    5 Mar 2007

    Pink Home Loans has launched an exclusive buy-to-let product funded by BM Solutions.

  • BoE votes to freeze interest rates

    8 Mar 2007

    The Bank of England has voted to freeze interest rates at 5.25% in March.

  • Boosting confidence in MPPI

    5 Mar 2007

    CETA is attempting to re-store brokers' confidence in mortgage payment protection insurance by introducing a more detailed fact-find that includes additional customer questions.

  • Bright launches introducer website

    5 Mar 2007

    Bright Finance has launched a business website for introducers. The website, designed by Sheffield firm Technophobia, is the first phase of Bright's project to provide web-based services to its introducers.

  • Britannia and EBS to launch Irish mortgage JV

    8 Mar 2007

    Britannia is in advanced talks with Irish mutual EBS to set up a new full service joint venture focussing on the Irish mortgage intermediary market.

  • Brits most likely to shop around for financial services

    6 Mar 2007

    Customers in the UK are most likely to shop around for a financial bargain in the EU, reveals a survey by Datamonitor.

  • Broker wants proof call centre leads are legit

    5 Mar 2007

    A broker is calling on lead generation firms using call centres to supply transcripts to prove they are not cold calling.

  • Brokers get economic data that they can use

    5 Mar 2007

    Given the sheer pace of change and progress in the mortgage market, it can sometimes seem like we are running simply to stand still.

  • Brokers say they lack TCF support

    5 Mar 2007

    Brokers have slated lenders for not offering enough support before the Treating Customers Fairly deadline.

  • Brokers uncertain if inflation battle is over

    8 Mar 2007

    Brokers are uncertain whether the latest interest rate freeze means inflation is finally under control.

  • Business Mortgage Expo reveals record numbers

    5 Mar 2007

    Clarion Events has revealed that 122 exhibitors have signed up for the upcoming Mortgage Business Expo 2007, a rise of over a third than at the same time last year.

  • Buy-to-let good times are here to stay

    5 Mar 2007

    The rapid rise in house prices coupled with relatively stable wage inflation has widened the affordability gap for first-time buyers.

  • Centrepoint appoints Warren as non-executive director

    6 Mar 2007

    Centrepoint has appointed compliance specialist Bill Warren as a non-executive director.

  • Changes that mean we will all suffer

    5 Mar 2007

    The Home Information Pack issue is becoming increasingly farcical. Leaving aside the question of whether or not they are a good idea in the first place, the confusion that surrounds them is palpable.

  • Charcol names sales director

    5 Mar 2007

    John Charcol has appointed Duncan Banks as its new sales director. Banks has over 20 years' experience in financial services and has held senior positions at foreign exchange specialist Travelex and Thomas Cook Financial. Most recently he was director of Alliance & Leicester's retail network.

  • Cheshire blames fall in assets on restructuring

    5 Mar 2007

    Cheshire has blamed a 1.7% downturn in mortgage assets in 2006 on commercial lending redemptions and restructuring during the previous year.

  • Citizens Advice calls for baliff clampdown

    5 Mar 2007

    Citizens Advice has warned that an unpaid credit card bill could soon be all the excuse a bailiff needs to break into a home and seize belongings, with the full blessing of the law.

  • Commercial First supports brokers

    5 Mar 2007

    Commercial First is offering a support service for brokers to help them sell its products. It has recruited a six-strong sales team which will be the first point of contact for brokers who need help understanding products and criteria or require extra support in structuring deals.

  • Compliance forum established

    5 Mar 2007

    Industry leaders have come together to form a Mortgage Compliance Forum to consider some of the most pressing regulatory issues.

  • Connect joins Rooftop panel

    5 Mar 2007

    Rooftop Mortgages has added Sussex-based packager Connect Mortgage Group to its distribution panel.

  • Co-op launches green mortgage range

    7 Mar 2007

    The Co-operative Bank is launching a range of green fixed rate mortgages.

  • Copland wants top job at Pink Home Loans one day

    5 Mar 2007

    David Copland, deputy managing director at Pink Home Loans, has revealed that he harbours ambitions to one day become managing director of the network.

  • Council Tax bills for band D properties could rise by 4.2% this year

    5 Mar 2007

    Council Tax bills for band D properties could increase by 4.2% to over 1,300 in 2007, the Chartered Institute of Public Finance and Accountancy predicts.

  • Countrywide board recommends Apollo takeover

    5 Mar 2007

    The board of Countrywide has agreed the 1bn takeover proposition made by private equity firm Apollo Funds.

  • Countrywide signs HIP deal

    5 Mar 2007

    US firm MacDonald, Dettwiler and Associates has signed a contract with estate agency Countrywide to be its lead supplier of Home Information Packs. MDA will receive all Countrywide's HIP orders and execute them supported by a back-up supplier. Countrywide subsidiary Rightmove dropped its HIP proposition last year.

  • Coventry takes flak over Godiva

    5 Mar 2007

    Coventry's decision to launch a specialist lender has been criticised ahead of its unveiling.

  • Crown appointed by 5D Finance

    6 Mar 2007

    5D Finance has appointed Crown Mortgage Management as its servicing partner.

  • Cummings hails regulation of claims firms as victory for AMI

    8 Mar 2007

    Chris Cummings has hailed the upcoming regulation of claims management firms on April 16 as a lobbying victory for the Association of Mortgage Intermediaries.

  • Curriculum Vitae - Ellis Sher

    5 Mar 2007

    "I play cricket for a London-based team of South African ex-pats called the Green Mambas."

  • Dale Knight joins Mortgage Next

    5 Mar 2007

    Mortgage Next Network has appointed Dale Knight as director of recruitment.

  • Dear Delia

    5 Mar 2007

    Dear Delia, my client wants to purchase a buy-to-let property worth £150,000. A valuer has confirmed the rental yield on the property as £500 per month. So far I have been unable to source an appropriate product due to the rental yield being insufficient to cover the monthly mortgage repayments. He earns £60,000 a year and has an existing residential mortgage balance of £127,500, credit card commitments totalling £2,352 and a loan of £120 per month. What are his options?

  • Diversification drives bank profits, says KPMG

    5 Mar 2007

    Profit growth in wholesale, wealth management, investment banking and international banking markets have been key factors in the growth of UK banks, KPMGs UK financial institutions performance survey reveals.

  • Don't forget the quiet green heroes

    5 Mar 2007

    UCB Home Loans has been asking mortgage brokers what they think about environmentally-friendly home loans and will be releasing its results this week.

  • Don't think of IVAs as an easy option

    5 Mar 2007

    As brokers with the best interests of your clients at heart it is essential you understand the options available to them when they have serious problems and make sure they don't go for what might seem to be easy options.

  • E2M integrates ID checks with 192.com

    6 Mar 2007

    Easier2move has integrated its system with 192.com to allow its panel of solicitors to perform instant ID checks for clients.

  • edeus launches buy-to-let product

    5 Mar 2007

    Edeus has launched a buy-to-let product based on its BLA13 product. The product is available up to 90% LTV at 100% rental coverage based on pay rate which is 0.74% over Bank of England base rate for two years.

  • Edeus launches sub-prime remortgage range

    6 Mar 2007

    Edeus has released an additional 24 remortgage-only sub-prime and sub-prime self-cert products.

  • Endowment policies double in 2006

    6 Mar 2007

    The number of Traded Endowment Policies purchased in 2006 more than doubled compared to the previous year, figures from the Association of Policy Market Makers reveal.

  • Equity release brokers must stand up and be counted in the face of criticism

    5 Mar 2007

    Star Letter

  • Exhibitors report quality leads at the Homebuyer Show

    7 Mar 2007

    A record number of visitors attended the Homebuyer Show at the weekend, resulting in exhibitors reporting a greatly increased number of quality leads.

  • Experts should not make mistakes

    5 Mar 2007

    Mortgages seem to be the in thing for MPs to get stuck into as the subject for early day motions. These motions allow MPs to call for a debate on any topic they feel deserves attention. It's easy to take these things terribly seriously but even the parliamentary website that holds information on all the motions tabled points out that the vast majority will never be debated.

  • First-timers begin to cut the apron strings

    5 Mar 2007

    First-time buyers are starting to ditch parental help and fend for themselves when it comes to buying their first homes, Abbey reveals.

  • Focus is on fairness and education

    5 Mar 2007

    The FSA has set out its objectives for the year ahead and its focus will be on the fair treatment of customers and promoting financial capability, says Bill Warren

  • Four IVA probe firms named

    5 Mar 2007

    The Advertising Standards Authority has named four individual voluntary arrangement firms it is investigating over their advertising claims.

  • Free compliance checks from MT

    5 Mar 2007

    The Mortgage Times Group is offering brokers who visit its business development forums free compliance health checks. The checks include threehour visits by representatives of the MT compliance department with immediate feedback and a critique of a firms' training and competence procedures.

  • Freedom cuts fixed rates

    8 Mar 2007

    Freedom Lending has reduced the pricing of its two and three-year fixed rates.

  • Freedom joins BDS' lender panel

    5 Mar 2007

    Freedom Lending has joined BDS Mortgage Group's lender panel, bringing the number of lenders on the packager's panel to 27.

  • FTBs go for high LTV deals

    5 Mar 2007

    first-time buyers opting for mortgages with LTVs over 100% are doing so to preserve capital to decorate their homes rather than cover deposits, a survey reveals.

  • Fun Stuff

    5 Mar 2007

    What's your favourite restaurant?

  • Gadhia returns to Virgin as chief executive

    9 Mar 2007

    Virgin Money has appointed Jayne-Anne Gadhia as chief executive.

  • GE wins SMS’s best lender

    8 Mar 2007

    GE Money Home Lending was voted best overall lender by Solent Mortgage Services at its awards dinner.

  • GEMHL develops direct proposition

    5 Mar 2007

    GE Money Home Lending has teamed up with Sesame and Mortgages Direct as part of its direct-to-broker proposition. Duncan Berry, director of mortgage sales at GEMHL, says: "This channel is a growth area for the industry."

  • GMAC-RFC slashes Partner fixed rates

    6 Mar 2007

    GMAC-RFC has slashed the rates on its Partners fixed rate products following a major review of the range.

  • GMAC-RFC voted top employer

    5 Mar 2007

    GMAC-RFC has been voted number 32 in the Sunday Times best 100 companies to work for.

  • Goldsmith Williams and em- launch broker scheme

    7 Mar 2007

    Goldsmith Williams has teamed up with em- to launch a broker nomination scheme for remortgage and conveyancing services.

  • haart predicts pre-HIP spring boom

    6 Mar 2007

    haart estate agents is predicting a spring boom as sellers rush to get their properties onto the housing market before the introduction of Home Information Packs on June 1.

  • Halifax reveals 281% rise in Stamp Duty

    5 Mar 2007

    Halifax estimates there has been a shocking 281% rise in the number of home sales in England and Wales attracting a 3% rate of Stamp Duty in the past five years.

  • Halifax to launch OMHB product

    9 Mar 2007

    Halifax for Intermediaries is launching is Open Market HomeBuy proposition on Monday March 12.

  • HBOS appoints eConveyancer to its five brands

    9 Mar 2007

    HBOS has appointed eConveyancer to supply conveyancing solutions across its five intermediary brands.

  • HBOS says results are no cause for complacency

    5 Mar 2007

    HBOS says there is no room for complacency, despite it maintaining a 21% share of the UK mortgage market in 2006.

  • Heritable appoints three directors

    5 Mar 2007

    Heritable Bank has changed the roles of three of its senior management team.

  • Heritable releases new products for promotional range

    8 Mar 2007

    Heritable has released a range of several new products in conjunction with its ‘reasons to love Heritable’ range.

  • High street law firms at risk of money launderers

    8 Mar 2007

    High street law firms are leaving themselves wide open to money launderers, research by Conveyance Link reveals.

  • HIP providers face mass cull

    5 Mar 2007

    LMS is predicting massive consolidation in the Home Information Pack market with less than a dozen of the present 120 HIP firms still operating by June 2008.

  • Hipstar to deliver HIPs through LexisNexis

    6 Mar 2007

    Hipstar has revealed it will deliver several thousand Home Information Packs a month using the VisualHip platform from LexisNexis Visualfiles.

  • HOC teams up with MortgageStream

    6 Mar 2007

    Home of Choice has chosen MortgageStream as its case management system.

  • Horsman returns to BM Solutions

    5 Mar 2007

    Dave Horsman, formerly edeus' head of national accounts, has rejoined BM Solutions. He quit his BDM position at the HBOS subsidiary to join Michael Bolton's start-up but the move proved short-lived and Horsman quit earlier this year. Chris Pearson, head of sales and marketing at BM Solutions, says: "The horse has bolted and returned to the UK's number one specialist lender."

  • House prices have reached plateau

    9 Mar 2007

    House prices rose by 0.9% in February and by 7.6% over the past year, analysis by Acadametrics reveals.

  • I get the feeling I'm being fobbed off by C&G staff

    5 Mar 2007

    I agree with Rob Roberts' comments in his letter last week (Mortgage Strategy February 26).

  • IF offers fast track service

    8 Mar 2007

    Intelligent Finance will now allow fast track income verification for self-employed customers with a LTV of up to 75%. It has also increased its fast tracking for employed customers from 75% to 85% LTV. Cammy Amaira, director of sales at IF, says: "Making it even easier for brokers to place business for their clients makes all round good sense."

  • Inducement fears force West Brom draw U-turn

    5 Mar 2007

    West Brom for Intermediaries has made a U-turn on the terms and conditions of its Trigold prize draw because of concerns it might offer an inducement. But BM Solutions, which is running a similar competition with the sourcing system's E-Trading Centre, is sticking to its guns and not revising the rules of its prize draw to win a ride in a jet fighter in the US.

  • ING and IF top empathy table

    5 Mar 2007

    ING Direct and Intelligent Finance have come out top in a customer empathy league table compiled by researchers Harding & Yorke.

  • Intermediaries pessimistic about green plans

    6 Mar 2007

    A survey, by UCB Home Loan shows that 67% of intermediaries believe that the UK will not be able to achieve its target of making all new homes carbon neutral within the next 10 years.

  • Investec in £350m securitisation deal

    5 Mar 2007

    Investec Principle Finance has completed a £350m residential mortgage securitisation, Landmark Mortgage Securities No 2 PLC. The mortgage loans were acquired from Infinity Mortgages, Unity Homeloans and Amber Homeloans.

  • Islamic finance website launched

    6 Mar 2007

    A website has been launched to advertise Shariah compliant mortgages and financial products from UK lenders and financial institutions.

  • It's time for brokers to get behind HIPs

    5 Mar 2007

    There comes a time when, however passionate you are that your argument is right, you have to accept the views of others and move on to work within a new framework.

  • January lending hit £16.6bn

    5 Mar 2007

    The British Bankers' Association says gross mortgage lending was £16.6bn in January, a 15% increase from January 2006.

  • Kensington simplifies adverse credit range

    5 Mar 2007

    Kensington Mortgages has merged its Simple and Extra Choices ranges into a single adverse credit range in a bid to simplify its proposition.

  • Knight to join Mortgage Next

    5 Mar 2007

    Dale Knight, who was made redundant from Prestbury Financial last month, is to join Mortgage Next Network to spearhead its appointed representative recruitment drive. Knight was sales director at Prestbury for a year and also headed the Professional Mortgage Network.

  • KRS appoints head of partnerships

    6 Mar 2007

    Key Retirement Solutions and its support service Lifetime Advisory Services has appointed Elizabeth Wilkinson as head of partnerships.

  • Learning curve

    5 Mar 2007

    A European directive could sweep away the requirement for mortgage advisers to be qualified and this worries many in the industry, says Clare Bettelley

  • Leeds launches fee free five-year fixed

    7 Mar 2007

    Leeds has released a fee-free five-year fixed rate product at 5.99%.

  • Lenders and brokers honoured at MT Awards

    7 Mar 2007

    Mortgage Times paid tribute to its lender and intermediary partners last night at its annual awards ceremony at the glamorous Claridges Hotel.

  • Lenders decide to quote fixed exit fees on KFIs

    5 Mar 2007

    Top lenders have bowed to the Financial Services Authority and will stick to the exit fees quoted in their Key Facts Illustrations.

  • Lenders' funding hangs in balance

    5 Mar 2007

    A house price correction would be a serious challenge for residential mortgage-backed securities - a favoured way for lenders to generate funding, says Frank Eve

  • Lenders should use qualified staff on their helpdesks

    5 Mar 2007

    Are lenders cutting costs to such an extent that they are employing office cleaners on their broker helplines?

  • Lenders split on further rate rises

    8 Mar 2007

    Lenders are split on whether further rate rises are likely in order to bring inflation back under control.

  • Lending up for Tipton & Cosely

    5 Mar 2007

    Tipton & Cosely reports a near 30% rise in gross mortgage lending, up to £73.22m in 2006. Assets increased by 9.92% to £316m and there was a reduction in management expenses.

  • Let's tell Gordon to get it SUSD

    5 Mar 2007

    Mortgage Strategy today joins forces with Halifax and calls again on chancellor Gordon Brown to get it SUSD and Step Up Stamp Duty.

  • Lettings market strong in Q4 2006

    5 Mar 2007

    The National Association of Estate Agents says there was a strong market for UK residential lettings in Q4 2006. It says affordability, an increase in immigration and strong interest in bricks and mortar as an investment contributed to a thriving buy-to-let sector.

  • Lib Dems slam profit making banks

    5 Mar 2007

    The Liberal Democrat party has attacked Tony Blair and Gordon Brown for mortgaging Britains future and for allowing banks to make excessive profits.

  • Lib Dems warn on housing market

    5 Mar 2007

    The Liberal Democrats have warned that world stock markets may not be stable enough to support the UK housing market if it were to slow or turn. Shadow chancellor Vince Cable says the economy is precariously dependent on confidence.

  • Loans and mortgages in harmony

    5 Mar 2007

    The good news just keeps on coming for the secured loans sector. For intermediaries who still have worries over the reputation of secured loans and the impact this might have on their business, it is worth taking a look at the latest move in bringing secured loans into line with the mortgage market.

  • London still top for real estate investors

    5 Mar 2007

    London is still the best market for real estate investors, says Experian.

  • Marketwatch

    5 Mar 2007

    Swaps continued to fall last week. Who knows, maybe we will start to see a few fixed rates coming down. Swaps have managed to edge down about 0.18% since their peak towards the end of January.

  • Me & My Car

    5 Mar 2007

    I persuaded Michael Bolton to let me have a bus to accommodate BDMs during our roadshows last year, added a hot tub and two champagne fridges and fell in love with it, says Alan Cleary

  • Merger plan shelved

    5 Mar 2007

    MacDonald, Dettwiler and Associates and Quest Associates have agreed to terminate merger plans. The decision follows the Office of Fair Trading's referral of the merger to the Competition Commission for further review.

  • MI launches two-year fixed from Abbey

    6 Mar 2007

    Mortgage Intelligence has launched a semi-exclusive Abbey product which has a fixed rate of 5.19% for two-years.

  • Mixed response to social problem

    5 Mar 2007

    A review of housing has called for councils to provide more housing in areas where there are higher earners and more help for social tenants to buy their own homes.

  • Money Partners Touch launches broker prize draw

    6 Mar 2007

    Money Partners Touch, the direct-to-broker channel of Money Partners, has launched a new promotion via its website.

  • Money Partners Touch launches eDecision

    7 Mar 2007

    Money Partners Touch, the direct-to-broker channel of Money Partners, has launched an instant decisioning tool for brokers called eDecision.

  • More support for Network Data

    5 Mar 2007

    GMAC-RFC has granted Network Data corporate accounts status, meaning its members will have support from GMAC-RFC regional sales executives for queries on products, criteria and case issues. Peter Izard, senior corporate accounts manager at GMAC-RFC, says: "Network Data members will now have greater exposure to information on our products and services."

  • Mortgage terms could be extended to infinity

    5 Mar 2007

    According to Moneyfacts.co.uk, 80% of lenders now offer maximum mortgage terms of more than 25 years.

  • Mosaic turns to packagers after polling brokers

    5 Mar 2007

    Mosaic Mortgage Club is in talks with several packagers after its research revealed 90% of brokers would rather access sub-prime products via packagers than go direct to lenders.

  • MP calls on mortgage lenders to go green

    7 Mar 2007

    An MP has called on banks and building societies to do much more for borrowers who wish to improve the energy efficiency of their homes and reduce carbon emissions.

  • MPs attack First Direct Bank over extra charges

    5 Mar 2007

    MPs have slammed HSBC-owned First Direct Bank for slapping extra charges on current account holders who do not have mortgages with it.

  • MPs in call for green deals

    5 Mar 2007

    A group of MPs have put down an early day motion calling on mortgage lenders to go green and offer environmental mortgages.

  • MT launches 60% commission for secured loans

    5 Mar 2007

    The Mortgage Times Group has launched a 60% gross commission scheme for intermediaries offering its secured loans products across the whole of its secured loans panel.

  • Mutual lending to associations rises

    5 Mar 2007

    Societies lent 2bn to housing associations in 2006, up from 1.5bn in 2005, according to figures from the Building Societies Association.

  • N&P unveils rate reductions

    7 Mar 2007

    Norwich and Peterborough is reducing the rates on two of its 10-year fixed rate mortgages.

  • Nationwide hits back at edeus ads

    5 Mar 2007

    Nationwide has hit back at edeus for flaunting the mantra 'Screw branches, not brokers' in its latest advertising campaign.

  • Nationwide predicts another rate freeze

    7 Mar 2007

    Nationwide predicts there will be no change in the Bank of England base rate at the next meeting of the Monetary Policy Committee on Thursday March 8.

  • Nationwide to create intermediary team

    7 Mar 2007

    Nationwide is to create a team of senior management dedicated to intermediary markets and specialist lending subject to its merger with Portman going ahead.

  • Online insurance deals for advisers

    5 Mar 2007

    Risk Placement Services, the online provider of special risk and impaired life insurance products, will now be available to advisers via Mortgage Promotions, Personal Touch Financial Services and Whitechurch. The three organisations have a combined adviser base of nearly 5,000.

  • Pink reshuffles executive team

    5 Mar 2007

    Pink Home Loans has unveiled its new-look executive team including Kay Leslie as network services director and Elliott Stoneham as chief operating officer. Lisa Hurley has been appointed associate director of finance.

  • PMPA launches TMB exclusives

    5 Mar 2007

    The Professional Mortgage Packagers Alliance has released a range of exclusive products from The Mortgage Business. The deals include three fixed rate options within TMB's Self 85 range.

  • PMS offers TMB range

    9 Mar 2007

    Premier Mortgage Service is offering a range of exclusive products from The Mortgage Business.

  • Poland could be next hotspot for B2L clients

    5 Mar 2007

    The property system in Poland is similar to that in this country in many ways, but not as sophisticated.

  • Portman agitator unmasked

    5 Mar 2007

    Mortgage Strategy has unmasked the man behind the Portman protest group - the managing director of the UK division of the world's largest independent ATM provider.

  • Portman to make 500 redundancies

    9 Mar 2007

    Portman says it expects to make nearly 500 staff redundant as a result of the merger with Nationwide.

  • Positive moves in the high LTV sector

    5 Mar 2007

    Maxing out on borrowing through an equity release scheme may not seem a normal thing to do but in fact it accounts for a reasonable share of the market.

  • Proc fees to be paid faster

    5 Mar 2007

    Brokers are to be paid by the automated payment system known as BACS within 48 hours of exchange of contracts in an initiative by Broker Mortgage, the packaging arm of C Group.

  • Property experts welcome interest rate freeze

    8 Mar 2007

    Property experts have welcomed the interest rate freeze as good news for the housing market.

  • PTFS launches B&W exclusives

    5 Mar 2007

    Personal Touch Financial Services has launched two exclusive buy-tolet products funded by Bristol & West Mortgages.

  • PTFS praises Promise's online service

    5 Mar 2007

    Personal Touch Financial Services has praised Promise Finance for its online secured loans service.

  • RBSIP cuts rates on two-year fixes

    5 Mar 2007

    Royal Bank of Scotland Intermediary Partners has cut the rates on First Active and RBS two-year fixed rate products. The First Active online two-year fixed rate will be available at 5.39% with a £699 arrangement fee. The RBS twoyear fixed rate will be 5.69% with a £699 arrangement fee.

  • Recognise talent

    5 Mar 2007

    Staff retention is a problem for many firms and one solution is to offer more opportunities for career development, says Christine Toner

  • Retirement Plus joins forces with Co-Op

    5 Mar 2007

    The United Co-Operatives and its affinity partner Retirement Plus are to promote equity release plans through more than 900 outlets in the North of England, in the first equity release joint venture involving a major retailer.

  • Retirement Plus offers brokers fees

    5 Mar 2007

    Retirement Plus has become the first equity release provider to offer brokers both proc fees and trail fees.

  • S&S release B2L fixed rate

    7 Mar 2007

    Stroud & Swindon has released a buy-to-let two-year fixed-rate mortgage at 5.49%.

  • Saffron launches interest free product

    5 Mar 2007

    Saffron has launched its lowest ever mortgage rate with 0% interest for the first six months.

  • Scarborough buys out Portman offshore business

    6 Mar 2007

    Scarborough has outright bought Portmans Guernsey based offshore deposit-taking business Portman Channel Islands.

  • Secured loan brokers get advice on complaints

    5 Mar 2007

    The Association of Finance Brokers has produced a factsheet outlining what secured loan brokers need to do to comply with new complaints handling rules.

  • Select launches free valuation offer

    7 Mar 2007

    The Select Partnership is offering free valuations on sub-prime products for properties valued up to 300,000 to celebrate the launch of its newly-designed website.

  • Skipton launches capped trackers

    8 Mar 2007

    Skipton has launched two capped tracker mortgages.

  • Smell the coffee, buy the mortgage

    5 Mar 2007

    Opening a café in New York in which no financial dealings were permitted paid off for ING Direct but such a marketing stunt may not work so well in the UK, says Sally Laker

  • Society warned on retention

    5 Mar 2007

    Nationwide has come under fire for not offering an HBOS-style retention policy and been warned it could lose clients as a result.

  • Sorry seems to be the hardest word

    5 Mar 2007

    There's so much this industry could celebrate. Take record levels of business, innovation and new opportunities, for example. That's why it is amusing to see a war of words going on between industry heavyweights.

  • SPML appoints BDM

    5 Mar 2007

    Southern Pacific Mortgage Limited has appointed Lisa Partington as a business development manager for Essex, and East and North London.

  • Stamp Duty hits more home owners

    5 Mar 2007

    Halifax says there has been a 281% increase in the number of properties valued above the £250,000 Stamp Duty threshold over the past five years. Properties valued at or above this amount attract a 3% rate of Stamp Duty. The number of residential property sales attracting at least 3% Stamp Duty increased from 73,403 in 2001 to 279,408 in 2006.

  • Stand up to lenders' divisive tactics

    5 Mar 2007

    The tactic of divide and rule has been used to devastating effect throughout the annals of social, economic and commercial history. Presently, lenders in the mortgage market are employing it to take advantage of brokers in a bid to have their cake and eat it.

  • Start promoting the benefits of HIPs

    5 Mar 2007

    If brokers want to benefit from HIPs they should start familiarising themselves with the packs and sell their benefits to potential customers, says Allen Jackson

  • Strange bedfellow for Esther Rantzen

    5 Mar 2007

    The consumer champion is lending her support to an equity release company that charges a 2.5% fee although she says she researched the market with care, says Sue Read

  • Sub-prime lenders do a prime job

    5 Mar 2007

    I have never been one to think of people in stereotypical ways. Now this principle is affecting the way I think about how mortgage lenders are categorised.

  • Survey shows 7% plans to buy in six months

    7 Mar 2007

    Three million people, nearly 7% of the adult population, are planning to buy a new home in the next six months, a survey by mform.co.uk reveals.

  • Surveyor rewards good service

    5 Mar 2007

    Allied Surveyors has launched an awards scheme to encourage good customer service. In the first poll, the team at its Solihull office scooped the top prize for excellent customer service and helpful staff.

  • System eliminates re-keying of data

    5 Mar 2007

    Trustguard and Invent Software have developed a generic application form to eliminate the need for brokers to re-key customer information when applying to several lenders.

  • TCF should flow through a business

    5 Mar 2007

    For my company, TCF starts with product design which ensures fairness throughout the business and all brokers should be thinking along the same lines, says Drew Wotherspoon

  • Terraced houses see biggest price rises

    9 Mar 2007

    Terraced houses have seen the greatest increases in their price over the last five and 10 years, research by Halifax Estate Agents reveals.

  • The long view

    5 Mar 2007

    Barry Meeks will bring the benefit of long and diverse experience in the mortgage marketplace to his new role as managing director of Pink Home Loans, says Nicolette Botbol

  • The Mortgage Mole

    5 Mar 2007

    Eventful

  • This Week's Dilemma

    5 Mar 2007

    Most of my workforce has been in the industry for years and has built up valuable skills and knowledge. Their experience is valuable to my company and I would not want to be without it. With a number of them approaching retirement age, I want to ensure that my older employees pass on their skills and market knowledge to younger workers before they leave the company. How do I go about this?

  • Title Deed - Money Partners

    5 Mar 2007

    When a group of seasoned mortgage professionals decided to launch a specialist lender in 2004, they wanted the company's name to reflect its focus and activities, says Bob Sturges, director of communications at Money Partners.

  • TMB is added to Freehold panel

    5 Mar 2007

    Freehold scored a coup last week after signing The Mortgage Business to its panel despite allegations of a conflict of interest.

  • TMB offers free valuations through Pinnacle

    6 Mar 2007

    The Mortgage Business has revealed its products will be available with free valuations through Pinnacle Mortgage.

  • Travel agents face same fate as brokers

    5 Mar 2007

    It seems the Financial Services Authority might soon end up with another sector to regulate - travel agents. In February, the Treasury Select Committee published a damning report on the sale of bundled travel insurance - i.e. policies sold by travel agents with holidays.

  • TrustMark approves CRC and BBA

    8 Mar 2007

    TrustMark has approved two scheme operators, the Confederation of Roofing Contractors and the British Board of Agr?nt.

  • UCB Home Loans cuts fixed rates

    5 Mar 2007

    UCB Home Loans is reducing fixed rates across its range of self-cert and buy-to-let mortgages. Two-year fixed rates are being cut by 0.25%, three-year fixed rates by 0.2% and five-year fixed rates by 0.1%.Lenders are increasingly offering split pricing on products so borrowers can opt for fee-free deals with higher interest rates or products with higher fees and lower rates. But last week MPs accused lenders of charging high fees to keep rates low and top best buy tables.

  • Victoria cuts fixed rates

    5 Mar 2007

    Victoria Mortgages has reduced the pricing on its two and three-year fixed rates. Simon Read, business development director at Victoria, says: "These rates are exceptional and we expect them to be of great interest to the intermediary and packager sectors."

  • Virgin broadband property facility

    5 Mar 2007

    Propertyfinder.com is to supply Virgin Media broadband customers with an exclusive property search capability. The agreement means property-finder.com has added to its online portfolio, already being the official property portal for AOL, MSN, Yahoo and Tiscali.

  • Whingeing about HIPs won't help now

    5 Mar 2007

    I'm starting to suspect that Home Information Packs have generated more column inches in the trade press than the regulation of the mortgage market did. The debate over whether HIPs should be introduced or not continues to rage unabated.

  • Wimpey to accept exchange bonds

    5 Mar 2007

    George Wimpey is offering house buyers the opportunity to opt out of paying cash deposits by using an exchange bond designed by The Exchange Insurance Company.

  • Win free valuations

    5 Mar 2007

    Deep Blue has launched an online Dolphin Olympics game offering intermediaries the chance to win free valuations.

  • Wonderful vision of a fully protected nation

    5 Mar 2007

    I could hardly believe it when I read about this - starting in July this year, every German resident has to take out and maintain health insurance.

  • Would you prefer a low fee, high rate deal or a high fee, low rate one?

    5 Mar 2007

    Lenders are increasingly offering split pricing on products so borrowers can opt for fee-free deals with higher interest rates or products with higher fees and lower rates. But last week MPs accused lenders of charging high fees to keep rates low and top best buy tables.So, this week Mortgage Strategy asks Would you prefer a low fee, high rate deal or a high fee, low rate one?

  • Yorkshire announces record year with mortgage asset growth of 10.4%

    6 Mar 2007

    Yorkshire has announced a record year for 2006 with underlying mortgage asset growth of 10.4% up to 13.3bn.

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