Mortgage Strategy
6 August 2007

  • Edeus sales appointments

    6 Aug 2007

    Edeus has expanded its sales team with the appointment of Emma Price and Haydon Cooper. Price previously worked for The Nottingham and John Charcol. Cooper joins from AWD Moneyextra, where he worked as a senior mortgage broker.

  • Home & Capital to focus on brokers

    6 Aug 2007

    Simon Little has pledged to focus on the broker market in his new position as business development director of Home & Capital. Last week, Little quit as marketing manager of Tomorrow. He had been with the company for five years. In 2006, GE Life was bought by Swiss Re and rebranded Tomorrow. Little says his move had nothing to do with the rebranding. He says: "I have big plans for the broker sector as it is key to developing the home reversion and equity release markets."

  • Hometrack buys software firm

    6 Aug 2007

    Hometrack has acquired SIA, a provider of geographic software. SIA provides a mapping model that is capable of graphically highlighting a range of market analysis features including house prices, local demand profiling and rents.

  • L&G academy to train underwriters

    6 Aug 2007

    Legal & General is to launch an underwriting academy in conjunction with Cardiff University. The academy, which will open in October, will provide in-depth training to senior underwriters and claims handlers.

  • MPC keeps base rate on hold

    6 Aug 2007

    The Bank of England's Monetary Policy Committee last week voted to hold the base rate at 5.75% for August.This follows a 25 basis point rise in July, the fifth rise seen since August 2006. Although the freeze was widely predicted, the consensus is that interest rates will hit 6% by the end of the year.

  • Skipton offers base rate trackers

    6 Aug 2007

    Skipton has introduced three and five-year capped tracker mortgages. The three-year product has an initial rate of 6.09% with a 6.34% cap, while the five-year offering has a rate of 6.14% and is capped at 6.39%.

  • TMB unveils self-cert range

    6 Aug 2007

    The Mortgage Business has launched a range of self-cert rates. It includes a 5.59% fixed rate up to 85% LTV with an arrangement fee of £1,999, plus two 5.99% fixed rate self-cert deals also up to a maximum LTV of 85% but with arrangement fees of either £999 or 0.5% of the loan.

  • 58% of providers says regulation undermines confidence

    6 Aug 2007

    Regulation is undermining confidence in financial services firms, according to 58% of providers polled by Focus Solutions..

  • Abacus launches discount deals

    6 Aug 2007

    Abacus Permanent has launched a two-year discounted product range funded by Future Mortgages. It includes an additional 0.35% discount from the core range offered by Future. Rates start from 6.25% with no higher lending charges or upfront fees.

  • Adrian Childs replaces Ray Boulger on AMI board

    6 Aug 2007

    Ray Boulger, senior technical manager at John Charcol, has not been reelected to the board of the Association of Mortgage Intermediaries.

  • American Home Mortgage goes under

    7 Aug 2007

    American Home Mortgage has filed for bankruptcy - another indication of the dire condition of the American housing market.

  • An exit fee by any other name still stinks

    6 Aug 2007

    Lenders have a variety of strategies for dealing with difficult issues. Rewriting the script is one of their favourites.

  • An interesting time to be a packager

    6 Aug 2007

    In January 2006, I set up Personal Touch Packaging as a joint venture between Personal Touch Financial Services and OFM Group, PTFS' biggest appointed representative.

  • Are further base rate rises likely before the end of the year and would they be justified?

    6 Aug 2007

    Our experts are split this week. One believes a base rate of 6% is inevitable, but the other thinks it's best to pause to gauge the effects of previous rises

  • ARLA boss steps down

    6 Aug 2007

    Adrian Turner has stepped down as chief executive of the Association of Residential Letting Agents to set up a consultancy service for the private rented sector. ARLA has yet to announce his successor.

  • Astra offers B2L exclusive via PMS

    6 Aug 2007

    Astra is launching an exclusive three year buy-to-let product via Premier Mortgage Service. At 90% LTV, the initial rate is fixed for one year at 5.69%, followed by base rate plus 0.74% for years two and three. It has free valuations, free legals for remortgages and £200 cashback for purchases.

  • AXA reports growth in face of flood payouts

    9 Aug 2007

    AXA has revealed 9% growth in its general insurance business in the face of spiraling payouts thanks to flood damage up and down the UK.

  • Bank charge claimants left in limbo

    6 Aug 2007

    There was a strange situation last week as the Financial Ombudsman Service, the Office of Fair Trading and the Financial Services Authority effectively teamed up with banks to put a temporary stop to claims about unfair bank charges. Siding with big banks hardly seems like a role for the consumer-friendly OFT.

  • Base rate blackjack is the only game in town

    6 Aug 2007

    Last week, the Monetary Policy Committee voted to freeze the base rate at 5.75%. However, many pundits are predicting it will rise to 6% by the end of the year.

  • BDM of the Week

    6 Aug 2007

    Linda Grant stands out from the crowd because she understands the time-sensitive nature of our industry, communicates well and works for the benefit of brokers, says Keith Cumming

  • Bear Stearns co-president quits

    6 Aug 2007

    Warren Spector, co-president of Bear Stearns, has become the latest casualty of the US sub-prime crisis and resigned after two mortgage hedge funds collapsed six weeks ago.Spector had been tipped as the probable successor to Bear’s chairman and chief executive Jimmy Cayne.Alan Schwartz, who was previously co-president and co-chief operating officer with Spector, will now become sole president, while Sam Molinaro is to become chief operating officer and chief financial officer.

  • Blacklist fingers 140 brokers

    6 Aug 2007

    Personal Touch Packaging has revealed that a major len-der maintains a blacklist of 140 delinquent brokers.

  • BM gives firms link to One Minute Mortgage

    6 Aug 2007

    BM Solutions has launched a technology proposition that allows partners to plug into its instant decision system.

  • BM Solutions launches B2L trackers via MI

    6 Aug 2007

    BM Solutions has launched a range of two-year buy-to-let trackers through Mortgage Intelligence.

  • BoE warns of US sub-prime impact on UK appetite

    8 Aug 2007

    The Bank of England has warned that the US sub-prime mortgage crisis could impact on lending appetite in the UK.

  • Borrowers could turn to lodgers

    6 Aug 2007

    Propertyfinder.com says one in four home owners would consider taking in lodgers to boost their incomes if interest rates rise further. A survey by the website in July also found that a further 19% would consider taking in lodgers if they had enough space.

  • BoS restructures sales management team

    6 Aug 2007

    Bank of Scotland has reshuffled its sales management, axing the nat-ional accounts manager role held by David Gibb and reshaping the position of head of sales held by John Lloyd.

  • Brits reveal their money worries

    6 Aug 2007

    Money worries weigh heavily on Brits' minds, research by Stroud & Swindon reveals. The society says the top five financial concerns among consumers are the rising cost of living, insufficient funds, lack of financial preparation for retirement, their level of debt and keeping on top of repayments.

  • Broker commission is under threat

    6 Aug 2007

    Commission-based advice has been maligned and could be banned thanks to lobbying efforts by bodies such as the FSCP, so brokers must be prepared to fight their corner, says Frank Eve

  • Brokers affected growth, says HSBC

    6 Aug 2007

    HSBC has reported that the buoyant broker sector means it has seen only modest growth in its UK mortgage business.

  • Brokers fume as lenders fiddle with their exit fees

    6 Aug 2007

    Brokers have voiced their anger over lenders' attempts to retain, rename or even raise their exit fees in the wake of the Financial Services Authority's deadline to reveal their fee strategies for new customers.

  • Brokers using fake documents must be charged with fraud

    6 Aug 2007

    Regarding one of your recent articles about a fake document website (Mortgage Strategy July 30), it does not surprise me to learn that mortgage brokers form the majority of the firm's clients.

  • BSA welcomes report from KPMG

    6 Aug 2007

    The Building Societies Association has welcomed the positive tone of KPMG's latest report on the building society sector.

  • Buyers are green for homes with gardens, says Halifax

    8 Aug 2007

    New research from Halifax Estate Agents shows that 78% of buyers are prepared to pay a premium for a property with a garden.

  • C2 spices up product range with Salt exclusive

    6 Aug 2007

    c2-financial has launched an exclusive two-year fixed product at 6.89% from Salt.

  • Call to regulate lenders' account audits

    6 Aug 2007

    Omnicheck has called for lenders' account auditing to be regulated to stop a rise in mortgage overcharging.

  • CHL appoints head of operations

    6 Aug 2007

    CHL has appointed Keith Murrell as head of operations.Murrell joined CHL in 2004. Before that, he spent two years as IT director at Abbey and worked at Midland Bank, Mortgage Systems and Wagon Finance.

  • CLC turns celebrates fifth birthday

    10 Aug 2007

    Commercial Loan Company has celebrated its five year anniversary this August.

  • Clients must prepare for rainy days

    6 Aug 2007

    The weather has been appalling and tens of thousands of flood victims have been caught without contents insurance, so now could be the time to make it compulsory, says Sue Read

  • CML repossession figures suggest errors in collating data

    6 Aug 2007

    The divergence between the Council of Mortgage Lenders’ original and recently revised repossessions figures suggests an error in collating data, says Ray Boulger, senior technical manager at John Charcol.

  • CML says repossessions have soared

    6 Aug 2007

    The Council of Mortgage Lenders says home repossessions rocketed by 30% in the first half of 2007 compared with the same period in 2006.

  • CML underestimated 2006 repossessions by 34%

    6 Aug 2007

    The Council of Mortgage Lenders has dramatically increased its estimated repossessions and arrears figures dating back to 2003.

  • Commerce Centre ups commission

    6 Aug 2007

    The Commerce Centre has launched a range of introducer commission rates for commercial and bridging finance enquiries. The Commerce Centre is now paying registered introducers a fee of 0.55% for prime commercial and bridging finance. It also pays up to 1.5% for sub-prime commercial loans.

  • Commercial First buys into Go Business Mortgages

    6 Aug 2007

    Commercial First has bought a min-ority stake in commercial broker Go Business Mortgages.

  • Commercial First offers next-day proc payments

    8 Aug 2007

    Commercial First has introduced next-day commission payments.

  • Compensation scheme is poor value for money

    6 Aug 2007

    While soaking up the sun on a beach on your summer holiday, the latest Andy McNabb best-seller might not cure your work withdrawal symptoms and your BlackBerry might be in a no service area.

  • Compliance is key, online or otherwise

    6 Aug 2007

    Brokers have identified social networking websites such as Facebook as free sources of advertising, but they must ensure what they're doing will please the FSA, says Rob Griffiths

  • Conveyancing partnership

    6 Aug 2007

    Goldsmith Williams has been appointed as the exclusive conveyancing partner of 3mc.The conveyancer says this will deliver immediate benefits to the packager's 2,000 brokers.

  • Co-operative sponsors green housing

    7 Aug 2007

    The Co-operative Bank and housing developer Living Space 21 are offering eco-friendly homes to first-time buyers.

  • Cover can treat cancer patients' anxiety

    6 Aug 2007

    It seems that hardly a day goes by without a new development in the fight against cancer and it's great to hear about breakthroughs that could save lives.

  • Crack down on fast-track abuse

    6 Aug 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

  • Credit due to CCA

    6 Aug 2007

    Changes to the Consumer Credit Act due to come into force next April will improve the reputation of the secured loans industry, says Tim Wheeldon

  • CurriculumVitae: Stuart Glendinning

    6 Aug 2007

    "I did a one-week hang-gliding course, which was murder. It involved lots of running up and down hills and had nightly homework to boot. It was dreadful."

  • Cutting their business would make lenders focus on fees

    6 Aug 2007

    Last week's statement by the Financial Services Authority on exit fees must rank as one of the most pathetic in its history.

  • DB pulls sub-prime business but denies US link

    8 Aug 2007

    DB Mortgages has denied that the pulling of its entire sub-prime range until the end of the month has had anything to do with the current US sub-prime crisis.

  • Dear Delia

    6 Aug 2007

    Dear Delia James has been self-employed as a plumber for three years and earns about £40,000 a year. He wants to remortgage his property to free up capital for home improvements and to buy new tools, and estimates he'll need up to £15,000. He hasn't missed any mortgage payments but has a County Court judgement of £250. His property has been valued at £200,000 and the outstanding mortgage is about £135,000. What are the options available to him?

  • Discount deals are good value

    6 Aug 2007

    Home owners nervous about rising mortgage rates should switch their focus from fixed rates to discounts, a study by mform.co.uk suggests. It finds the average true cost of the 10 best two-year discount deals is £1,697.04 lower than the average true cost of the 10 best two-year fixed deals.

  • Dispute over trend in high LTV deals

    6 Aug 2007

    Lenders have disputed claims by the Council of Mortgage Lenders that de-mand for 100%-plus LTV mortgages is falling.

  • Earnings of the rich over last 10 years are double inflation levels

    6 Aug 2007

    Research out from Halifax Financial Services shows that the affluent classes have continued to prosper over the past decade.

  • Easier2move offers estate agents case tracking system

    6 Aug 2007

    Easier2move has formed an exclusive partnership with software provider Baysoft to allow its estate agents to manage the property purchase process via the system.

  • Edeus asset sales top £1bn

    6 Aug 2007

    Edeus has now sold over £1bn of its assets in the whole loan sale market. Its latest sale last week was worth £200m and was to Topaz Finance, a subsidiary of ABN AMRO Bank.

  • Edeus celebrates 15,000 registration milestone

    9 Aug 2007

    Edeus says it has received 15,000 requests for registration since it launched in September 2006.

  • Equity release day next month

    6 Aug 2007

    Equity Advice is to hold an equity release development day for brokers at the Heritage Motor Museum in Warwickshire on September 24. Chris Cummings, director-general of the Association of Mortgage Intermediaries, will speak at the event.

  • Equity release promotions bear fruit

    6 Aug 2007

    Getting started in selling equity release is not hard and as brokers can earn £1,500 per case, their marketing and lead generation efforts can soon pay off, says Jayne Almond

  • Exclusive offers free valuations

    6 Aug 2007

    Exclusive Connections is offering free valuations on properties up to £500,000 for core product applications, excluding buy-to-let. The service is available on applications received by September 14 with five lenders on Exclusive's sub-prime panel.

  • Fake FSA calls annoy brokers

    6 Aug 2007

    Mortgage Strategy was inundated last week by reports of a mystery caller masquerading as a Financial Services Authority employee.

  • Figuring out the benefits of HLCs

    6 Aug 2007

    Higher lending charges are suitable for the longer term products the government is trying to encourage but they are a complicating factor when it comes to cost analysis, says Katie Tucker

  • FMO put SALT on lender table

    9 Aug 2007

    SALT has joined First Mortgage Options packaged panel.

  • Friends Prov launches online income protection quote service

    10 Aug 2007

    Friends Provident has launched an online income protection quote service. Advisers can now quote and produce an illustration for individual income protection and houseperson’s cover through the company’s website.

  • FSA should take a sensible attitude to cold calling

    6 Aug 2007

    It is pleasing to note that the Financial Services Authority has accepted the fact that under a rules-based regime, it was failing to police the area of financial promotions.

  • Get tough on debt firms, says Cable

    6 Aug 2007

    Vince Cable MP, shadow chancellor for the Liberal Democrats, has called for tighter regulation of debt solution firms after it was revealed last week that some 300 people are declared insolvent every day. He says: "This figure shows the severity of Britain's personal debt crisis. People are reluctant to go into bankruptcy as they wish to keep a reputation for honouring their debts. They then find themselves in expensive individual voluntary agreements which pile up further problems."

  • GHL complete first acquisition

    10 Aug 2007

    GHL Group has completed its first network acquisition since the merger of Genesis Home Loans and Guaranteed Home Loans in November 2005.

  • Give rookie landlords a helping hand

    6 Aug 2007

    Brokers can help first-time landlords by pointing out the factors that must be considered before their investments can produce the expected returns, says Sally Laker

  • GMAC-RFC appointment

    6 Aug 2007

    GMAC-RFC has appointed Peter Harte as corporate accounts manager. Harte has worked for GMAC-RFC for four years.

  • GMAC-RFC should address brokers' 0870 concerns

    6 Aug 2007

    Let me begin by congratulating you on your excellent publication. I pick up other financial publications out of a sense of duty but look forward to reading Mortgage Strategy from cover to cover each week. (No, I'm not looking for a job, although I was a journalist in a previous life.)

  • GMAC-RFC shuts down National Guarantee

    7 Aug 2007

    National Guarantee, GMAC-RFC's direct to consumer subsidiary, has closed its doors to new business.

  • HBOS pricing to put profits first

    6 Aug 2007

    HBOS says it will put profits first when it comes to pricing mortgage products to account for their decreasing lifespans.

  • Higgins to exit HBOS

    10 Aug 2007

    Benny Higgins has relinquished his position as chief executive officer of retail at HBOS and will be replaced by former Birmingham Midshires managing director Dan Watkins.

  • HIP's eco-spin won't stop gazumping

    6 Aug 2007

    Rejoice, rejoice, because the world has found its saviour. There will be no more flooding, no more drought, no more war.

  • Hipstar cuts price of HIPs to £339

    6 Aug 2007

    Hipstar has slashed the prices of its Home Information Packs on properties with four or more bedrooms to £339 plus VAT. Colin McLaren, national sales manager at Hipstar, says: "Improvements in our operational efficiency mean we have been able to cut our prices."

  • HLM creates 425 Scottish jobs

    9 Aug 2007

    Homeloan Management is to create up to 425 new jobs in Glasgow to meet increasing demand for the companys mortgage administration services.

  • HML expands to Glasgow

    7 Aug 2007

    HML has opened new offices in Glasgow’s Skypark business complex to accomodate up to 425 new jobs.

  • Home owners warned not to panic buy insurance

    10 Aug 2007

    Home owners are being warned not to panic buy home insurance in the wake of the recent floods, by Bestdealinsurance.co.uk.

  • I hope HIP farce has a happy ending

    6 Aug 2007

    July 31 saw the conclusion of one sorry mortgage tale as lenders drew a line under the exit fee saga. But August 1 saw the beginning of the first chapter in another epic story.

  • Infinity pulls sub-prime range

    10 Aug 2007

    Infinity Mortgages has pulled out of the sub-prime market for the indeterminable future.

  • Interest rates could hit 6.25%, says AMI

    6 Aug 2007

    The Association of Mortgage Intermediaries believes the sub-prime problems in the US will impact the UK over the next year. In its Quarterly Economic Bulletin for Q3 2007, the trade body says a broad spread of economic indicators points to the need for higher rates. It predicts rates could hit 6.25% by the end of 2007.

  • Investec and Kensington complete takeover deal

    8 Aug 2007

    Kensington has completed the final stage in its transition to Investec ownership.

  • IRS appoints BDM

    7 Aug 2007

    In Retirement Services has appointed Mark Jones as BDM.

  • It's wrong to say no packagers are involved in the second charge market

    6 Aug 2007

    I read Mortgage Strategy's cover story in the July 23 issue with great interest and although on the whole it was an informative article, I must correct some of the things stated in it.

  • Kensington rules out sub-prime withdrawal

    10 Aug 2007

    Kensington has now confirmed it will not pull out of the sub-prime market after earlier refusing to do so.

  • L&C launches 25-year fix with no ERCs

    7 Aug 2007

    London & Country has launched a 25-year fixed rate mortgage at 5.99% with no early redemption charges.

  • L&G appoint new sales director

    7 Aug 2007

    Legal & General has appointed Martin Noone to the position of sales director within itsprotection business.

  • Landlords and lenders urged to help flood victims

    9 Aug 2007

    Citizens Advice is calling on landlords and mortgage lenders to ease the burden on people driven out of their homes by flood damage.

  • LeadPoint launches secured loan lead exchange platform

    10 Aug 2007

    LeadPoint has launched a lead exchange platform for the UK’s £9bn secured personal loans market.

  • Learn about the commercial options

    6 Aug 2007

    The traditional British approach to direct bank-based commercial lending will become history as a result of the market's realisation of the increasing volume of broker-introduced commercial loan business. But brokers must learn about the options available from commercial lenders to maximise their opportunities.

  • Leeds offers B2L range to Ireland

    6 Aug 2007

    Leeds is offering its full buy-to-let product range to Irish customers. This move will enable Irish residents to purchase investment properties in the UK. Leeds will lend up to 80% LTV and rental income should cover 130% of payments, calculated on an interest-only basis.

  • Legal reform for couples

    6 Aug 2007

    Brokers have been blamed for not ensuring unmarried couples understand their legal rights when buying homes.

  • Lenders charging exit fees are justified

    6 Aug 2007

    The British like bandwagons. When they hear one rumbling by they rush out and clamber on board. When it comes to fees and charges, consumer groups are first in line howling for fairness, which they seem to define as the primacy of customers over all other parties.

  • Lenders hit borowers with HLCs, says mform.co.uk

    8 Aug 2007

    More than seven in 10 lenders are still hitting mortgage customers who have small deposits with higher lending charges, analysis from online mortgage company mform.co.uk reveals.

  • Let's start making money out of HIPs

    6 Aug 2007

    Home Information Packs have finally been introduced. How was it for you? Did the earth move, was it the best thing that's ever happened or was it business as usual?

  • Lloyds TSB to close 31 C&G branches

    8 Aug 2007

    Lloyds TSB will reveal today it is to close down 31 Cheltenham & Gloucester stores nationwide.

  • Loansetc becomes ADV2 distribution partner

    6 Aug 2007

    Loansetc.co.uk has been made the second distribution partner for Advantage's secured loans range ADV2.

  • M2000 launches integrated system

    6 Aug 2007

    Mortgage 2000 has launched its integrated case management and mortgage sourcing system Encore Plus.The software provides brokers with a product that imports leads and facilitates mortgage sourcing, electronic submission, case and fee tracking, compliance and client contact management.

  • Make FSA inspections work for you

    6 Aug 2007

    If approached in a positive way, visits from FSA inspectors can provide brokers with the opportunity to sharpen up their act while treating their clients fairly, says James Hewson

  • Make online hay while the sun hides

    6 Aug 2007

    Research shows that mortgage enquiries via the internet spiral upwards when it's wet and dry up when the thermometer rises - insights that can help firms' marketing strategies, says Simon Baker

  • Marketwatch

    6 Aug 2007

    It was great to see swaps fall again - that's two weeks in a row. Two-year swaps are down 0.16% on their recent high and three-year swaps are down 0.18%. I think we'll have to see further swap rate reductions before there are rate cuts but there seems to be light at the end of the tunnel.

  • Marks made chairman of Convex Conveyancing

    6 Aug 2007

    Paul Marks has been appointed chairman of Convex Conveyancing, replacing outgoing chairman Clive Russell.

  • MDA Advantage HIP service up and running

    6 Aug 2007

    MDA Advantage has its Home Information Pack production centres up and running following the government’s August 1 implementation date.

  • Me & My Car

    6 Aug 2007

    My first car only managed three miles before breaking down, but my latest one, a Vauxhall Signum V6 Elite, is a roomy family car and features all the comforts I need, says Lee Carling

  • Mergers don't benefit customers, research reveals

    9 Aug 2007

    UK bank and building society mergers do not benefit their customers, new data from the ESRC Centre for Compeition Policy suggests.

  • MEX loses Hillier to rival lifetime mortgage firm Partnership

    8 Aug 2007

    Roger Hillier, product development manager at Mortgage Express, has been poached by lifetime mortgage provider Partnership.

  • MT signs MDA as HIP provider

    7 Aug 2007

    The Mortgage Times Group has signed up MDA Advantage to provide it with Home Information Packs. The branded HIPs will be offered to Mortgage Times network of mortgage intermediaries, alongside its range of mortgages, secured loans and general insurance products.

  • Mudd sticks to John Charcol

    6 Aug 2007

    Alan Mudd has returned to John Charcol to grow its new broker franchise, he tells Christine Toner

  • Multi-property B2L deal unveiled

    6 Aug 2007

    Wave has launched a multi-property buy-to-let mortgage, allowing brokers to submit applications covering up to five properties. It takes into account both rental and earned income and there is an online calculator brokers can use to calculate affordability.

  • Mutual's plan for 25-year fix

    6 Aug 2007

    Kent Reliance could scrap early repayment charges on its 25-year fixed rate products following the government's drive to make long-term fixes more accessible to borrowers.

  • N&P launches 25-year fixed

    10 Aug 2007

    Norwich and Peterborough has launched a 25-year fixed rate mortgage.

  • NAO finds HIP corruption in DCLG

    9 Aug 2007

    The National Audit Office has uncovered corruption concerning consultants who advised on the Department of Communities and Local Government on Home Information Pack inspector accreditors.

  • Nationwide downplays US impact on UK

    10 Aug 2007

    Nationwide has downplayed the impact of the US sub-prime market on the UK market.

  • Network Data launches exclusive Kensington near-prime

    10 Aug 2007

    Network Data is to offer its brokers a 95% LTV near prime exclusive deal from Kensington.

  • New head of capital markets for PMI Europe

    7 Aug 2007

    PMI Insurance Services has appointed Richard Sullivan as head of capital markets for its European business.

  • Newcastle appoints head of lifetime mortgages

    6 Aug 2007

    Newcastle has appointed John Digman as head of Newcastle Lifetime Mortgages.

  • Nutley quits GEMHL

    10 Aug 2007

    Julian Nutley, director of secured loans at GE Money Home Lending, is to leave the lender.

  • OEA to launch in Scotland

    6 Aug 2007

    The Ombudsman for Estate Agents is set to launch in Scotland after a fact-finding visit by Christopher Hamer, the Ombudsman.

  • Packager Power

    6 Aug 2007

    Last year, the Financial Services Authority launched an initiative to help combat mortgage fraud where there is suspected broker involvement. But how prevalent is financial fraud and what can brokers and packagers do to reduce it?

  • Pink launches 24-hour online commission form

    6 Aug 2007

    Pink Home Loans has launched an online 24-hour payment claim form for its appointed representatives.

  • PMS secures trademark rights to brand

    7 Aug 2007

    Premier Mortgage Service has secured the trademark rights to the brand PMS.

  • PMS sees first half business rise by 20%

    6 Aug 2007

    Premier Mortgage Service has re-ported doing £20bn worth of business in the first half of this year - up 20% on the same period last year.

  • Positive Lending revamps marketing toolbox

    6 Aug 2007

    Positive Lending has relaunched its free marketing toolbox providing a range of templates, leaflets and advertisements to brokers.

  • PTP signs exclusive DA partnership with Fuel

    6 Aug 2007

    Personal Touch Packaging has unveiled a directly authorised partnership with Fuel Investments.

  • RBS sees subdued lending growth but strong profits

    7 Aug 2007

    Royal Bank of Scotland has seen higher-than-forecast profits for the first half of 2007 and a 9% increase in lending on the same time last year.

  • Readers back crackdown on bogus document sites

    6 Aug 2007

    A whopping 95% of Mortgage Strategy Online readers last week voted that more should be done to crack down on firms that offer fake financial documents. Just 5% said they shouldn't - clearly the likes of Replicadoc.co.uk still have a loyal client base.

  • Refusal to conform widens affordability gap

    10 Aug 2007

    Changing lifestyles choices are playing a significant part in delaying first-time buyers from getting on the property ladder, says GE Money Home Lending

  • Regulator finds TCF failings

    6 Aug 2007

    The Financial Services Authority has slammed the industry for failing to implement its Treating Customers Fairly initiative.

  • Repossession figures add up to heartache

    6 Aug 2007

    Summer is a good time for banks. First, they make millions from customers who use their credit cards overseas and pay hefty charges for doing so.

  • Revamp could boost HomeBuy take-up

    6 Aug 2007

    Having failed to scratch the surface of first-time buyer and key worker funding problems, the government is trying again with what is effectively a relaunch of its Open Market HomeBuy scheme.

  • S&S appoints non-executive director

    6 Aug 2007

    Stroud & Swindon has today appointed Glyn Smith as a non-executive director.

  • S&S win work life balance award

    6 Aug 2007

    Stroud & Swindon is the first building society to be accredited with the Investors in People Work Life Balance Award.

  • Salt changes B2L criteria

    6 Aug 2007

    Salt has changed the criteria of its buy-to-let deals. It now allows landlords to use rent as well as surplus income to improve their affordability. The Salt range includes a two-year fixed rate deal at 5.49% and a three-year fix at 5.59%.

  • Salt unveils Swiss LIBOR buy-to-let tracker

    6 Aug 2007

    Salt has launched a three-year Swiss LIBOR tracker buy-to-let product.

  • Sesame accused of poaching

    6 Aug 2007

    A directly authorised broker has accused Sesame of att-empting to poach his brokers.

  • Skipton unveils half-year results

    6 Aug 2007

    Skipton's half-year results show mortgage applications for the first half of 2007 totalled nearly 13,500 and were worth over £1.4bn.

  • Standard Life Bank enhances B2L range

    6 Aug 2007

    As a part of its recent buy-to-let overhaul Standard Life Bank is instituting free legals and dropping valuation fees on it's Freestyle buy-to-let remortgage range

  • Standing up for the little guys

    6 Aug 2007

    Summer is the season for annual reports, not only from the Financial Services Authority but also its Consumer Panel, Practitioner Panel and Smaller Business Practitioner Panel.

  • Storms will pour VAT cash into Whitehall

    6 Aug 2007

    Need something to take your mind off the depressing arrival of Home Information Packs for five minutes? Try wading waist-deep through rising sewage in your dining room to get to a kitchen with no power or drinking water.

  • TBMC restructures its commercial team

    6 Aug 2007

    The Business Mortgage Company has unveiled a restructured commercial lending team to provide whole of market solutions.

  • Tesco may launch price comparison website

    6 Aug 2007

    Tesco is rumoured to be entering the price comparison market after it re-vealed it has bought the web domain www.tescocompare.co.uk.

  • The conversation

    6 Aug 2007

    Client interviews are a crucial part of brokers' jobs but getting them right is not as easy as it sounds, as the regulator's recent sub-prime review revealed, says Harvey Jones

  • The Mortgage Mole

    6 Aug 2007

    Digging the dirt in the mortgage world...

  • The painful story of HIPs goes on

    6 Aug 2007

    It was perhaps appropriate that the introduction of Home Information Packs last week followed the worst floods the country has seen for a decade, causing untold damage to the nation's housing stock and misery for many home owners.

  • This Week's Dilemma

    6 Aug 2007

    My business is growing and I'm busy. I need help fast and want to recruit a reliable and efficient office assistant who can get on with the job, carrying out a wide range of tasks and responsibilities to support the business. I have not recruited before and all I hear are recruitment nightmares about how mistakes are time-consuming and costly. Also, I read somewhere recently that even professionally structured interviews (whatever they are) only produce a 60% success rate. Where do I start?

  • Time to research new business areas

    6 Aug 2007

    In my last column, I wrote about using any spare time you might have over the summer to subject your firm to the same scrutiny the regulator might bring to bear should it conduct a mystery shop or a visit. It's possible that many of you read this and wondered what spare time I was talking about.

  • Title Deed: Trustguard

    6 Aug 2007

    The name Trustguard dates back to the early 1980s when chief executive David Cole added a financial arm to the home improvement business he was running at the time.

  • Toe the line for equity release advice

    6 Aug 2007

    Under MCOB 8.5.4 R, the Financial Services Authority requires that when considering the suitability of an equity release transaction, brokers have "regard to the facts disclosed by the customer and other relevant facts about [them] of which the firm is or should reasonably be aware, so it has reasonable grounds to conclude that:

  • Tornado decimates US sub-prime sector

    6 Aug 2007

    What's the difference between a hurricane and a tornado? Depending on the severity of the storm, a hurricane can cause severe damage but leave buildings still standing, albeit under water or minus their roofs. When a tornado strikes it levels everything in its path.

  • Trump closes one shop to open another

    10 Aug 2007

    American billionaire Donald Trump has pulled the plug on Trump Mortgage less than two years since its launch.

  • UK one of world's riskiest markets

    6 Aug 2007

    Houses in the UK are overpriced by over 20%, research by Fitch Ratings claims.

  • US backers could soon lose their nerve

    6 Aug 2007

    While Scotland experienced the joys of the smoking ban a year earlier than England and Wales, it has been given a reprieve when it comes to Home Information Packs. After much chopping and changing, last week HIPs finally became mandatory for the sale of houses with four or more bedrooms in England and Wales.

  • Variable rates 50% more popular in July, says Spicerhaart

    9 Aug 2007

    The percentage of borrowers opting for variable rate mortgages shot up by 50% in July, figures fron Spicerhaart Financial Services reveal.

  • Web advertising can pay off for brokers

    6 Aug 2007

    Advertising costs money - often a great deal of money. But with the growth of the internet, the days of spending and simply hoping your advertising pays off are numbered.

  • Website looks for insurance partners

    6 Aug 2007

    Online aggregator Onlyinsurance.com is in talks with potential third party providers to meet growing demand for critical illness and life cover.

  • West Bromwich appointment

    6 Aug 2007

    West Bromwich Commercial has appointed Chris Miller as director of lending operations.Miller's job will be to strengthen the commercial team. He will have responsibility for processing, loan servicing, administration and securitisation.

  • Winter seems confused about the type of car he is driving

    6 Aug 2007

    In the July 23 issue of Mortgage Strategy, the 'Me & My Car' section featured Paul Winter, chief executive of Ipswich.

  • Woolwich slashes two-year fixed rate

    6 Aug 2007

    Woolwich has cut the borrowing rate on its two-year fixed rate product in reaction to consumer nervousness about interest rate rises.

  • Woolwich unveils fees-free tracker

    6 Aug 2007

    Woolwich has launched what it says is its best fees-free lifetime tracker. The product has no application fee and is priced at 0.17% above the base rate.

  • Would you be interested in a property that has fallen in price?

    6 Aug 2007

    Last week, Mortgage Strategy reported that an anonymous IT professional has laun-ched a website showcasing properties with reduced price tags. Propertysnake.co.uk says it averages 5,000 hits a day, producing 1,000 leads. House price inflation continues to push property prices out of reach of buyers.So, this week Mortgage Strategy asks… Would you be interested in a property that has fallen in price?

  • X-debt launches debt management company

    9 Aug 2007

    X-debt has launched a subsidiary company Pathfinder Debt Management, providing debt management solutions for introducers and their clients.

  • Yorkshire launches 25-year fixes through branches only

    8 Aug 2007

    Yorkshire is launching two 25-year fixed rate mortgages – but is only making them available through its branch network.

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