Mortgage Strategy
6 June 2005

  • A View From The floor

    6 Jun 2005

    Adrian Coles, director-general of the BSA, says female representation is rising in the boardrooms of the country's building societies and is higher than in the plc sector

  • Abbey agrees to refund intermediary at last

    6 Jun 2005

    Abbey has agreed to refund costs incurred by a client of Square Mile Mortgage Finance and make an ex-gratia payment for loss of proc fee to the broker after a client lost out on a Right to Buy property.Square Mile mortgage consultant Matthew Karger tried to place a Right to Buy case - which was relatively unusual because the guarantor was self-employed - with Abbey.He faxed the self-employed person's accounts to the lender on January 20 and was told it was happy to proceed.But ...

  • Abbey launches lower fixed rate range

    9 Jun 2005

    Abbey has released a range of lower fixed rates available from June 13 2005.

  • AIFA has hid its light under a bushel, says Cummings

    10 Jun 2005

    Chris Cummings, director-general of the Association of Independent Financial Advisers, says the trade body has been hiding its light under a bushel.

  • And to cap it all, security comes as standard

    10 Jun 2005

    Youve probably got a better chance guessing the winning numbers on the National Lottery at the moment than you have of predicting the trend for interest rates over the next three years.

  • AToM launches semi exclusive

    6 Jun 2005

    All Types of Mortgages has launched a semi exclusive fixed rate buy-to-let product with Mortgage Trust that forms part of the MT Select Range.

  • AXA opens protection account on Webline to brokers

    8 Jun 2005

    Brokers can now access AXAs protection account live on Webline.

  • B&W plans switch to email for rate alerts

    6 Jun 2005

    Bristol & West Mortgages will use email as the sole way to tell brokers about product changes from the end of the month.The lender currently keeps intermediaries informed of launches, withdrawals and adjustments by post and email, but will correspond exclusively by email from the end of June to ensure accurate information can be sent quickly.Intermediaries can log on to the Bristol & West Mortgages website and complete an online form if they have not already submitted their ...

  • B2L index shows regional variation

    6 Jun 2005

    Paragon Mortgages' May buy-to-let index highlights regional variations in returns for landlords.Investors located in the northern regions of the country continue to benefit from higher average returns than those in southern areas, with the four northerly regions, roughly covering the area from the Mersey to The Wash, taking the top four places in terms of overall returns.Nationally, prices continued to stabilise in May, reaching 152,622. This equates to a fall in the annual ...

  • Banks hate debts that hit their profits

    6 Jun 2005

    It is easy to see why banks are issuing bad debt warnings when an increase in mortgage arrears affects share prices but unsecured arrears hit their profits first, says Rachel Blackmore

  • Barclays Spain offers B2L scheme

    6 Jun 2005

    Barclays Spain has entered into a partnership with Savills Private Finance and property developer Key Resorts to offer an exclusive overseas buy-to-let scheme.The scheme is aimed at investors looking to purchase a place in the sun for their own use while achieving a rental return.This is the first time Barclays has entered into a partnership agreement with other leading names in the non-resident property market in Spain.The tailored mortgage aimed at overseas buy-to-let ...

  • Big packagers can be change-oriented and customer-centric

    6 Jun 2005

    From Wayne Smethurst Since you published my letter describing the ideal packager on April 25, there has been a fair amount of comment from packagers of all shapes and sizes, not to mention from a few lenders. Some of the comment has been about super packagers. This description worries me. The words super packager conjure up a picture of a big, cumbersome organisation that doesn't like change and finds it difficult to be centred on customers. When comparing packagers, it's ...

  • BM Solutions recruits two new BDMs

    9 Jun 2005

    BM Solutions has appointed two business development managers, Grahame Heatlie and Rodney McKirgan, to drive business in Scotland and Northern Ireland.

  • BMS calls on B2L lenders to only deal with regulated brokers

    7 Jun 2005

    BM Solutions is calling on all buy-to-let lenders to unite and save the reputation of the sector by agreeing to only deal with Financial Services Authority regulated brokers.

  • BMS launches extra sub-prime categories

    6 Jun 2005

    BM Solutions has launched two additional categories in its sub-prime and self-cert ranges.The categories - near prime and extra light - have been introduced as part of a strategic attack on the sub-prime sector in the coming year.The extra categories enable brokers to pinpoint a closer match to consumers' requirements and access a wider range of suitable rates. The near prime fixed and tracker rates start from 5.99% and near prime self-cert rates start from 6.19%. All deals ...

  • BMS poised to launch into lifetime market

    6 Jun 2005

    BM Solutions is to launch into the lifetime mortgage market later this year.Tim Hague, head of products and marketing at the HBOS subsidiary, says it's a sector that the UK's largest lender has been looking at for some time.He says: "We recognise that by 2020 the lifetime mortgage market will potentially represent 50% of all mortgage business being written. We're seriously looking at this market as it oozes potential."He adds: "We will be actively consulting with the Financial ...

  • Britannia launches new fixed rate mortgages

    9 Jun 2005

    Britannia Building Society has launched a new two-year and five-year fixed rate mortgage.

  • Brits looking to buy property in Florida offered fast-track mortgages

    6 Jun 2005

    Brits looking to buy property in Florida can now arrange a fast-track mortgage via a division set up by City broker Charles Cameron & Associates.CC&A has established relationships with several US banks and estate agents to assist buyers get into what has traditionally been a difficult market to enter.Grant Holmes, associate director at CC&A, says: "Stringent money laundering rules, visa requirements and the high numbers of overseas buyers wanting to purchase holiday or retirement ...

  • Brokers attract Charcol staff

    6 Jun 2005

    John Charcol recently launched a major recruitment drive as part of changes that also saw the brand adopt the 'John' preface again, and gain independence from the corporate structure of Bradford & Bingley.The recruitment drive was prompted by John Garfield's return to the fold as executive chairman.But Hamptons and Savills say they are taking on staff from John Charcol. Hamptons has recruited Tamsin Putman as an associate consultant and Karen Cunningham in an administrative ...

  • Brokers offered GI sales facility

    6 Jun 2005

    Select & Protect has launched an introducer status facility for brokers who are not regulated for general insurance, but don't want to lose the extra business.The company says since GI-Day a significant number of brokers have not become authorised for the sale of GI products.S&P says introducers will benefit from one of the highest levels of commission in the market, available for the lifetime of the policy, a simple sales process requiring the introduction of customer leads ...

  • Butterfield Bank reveals an Australian style mortgage

    9 Jun 2005

    Butterfield Bank Guernsey, has launched the Butterfield Current Account Mortgage, the first such mortgage with internet banking to be made available to Guernsey residents.

  • Change of image

    6 Jun 2005

    Wolton Chartered Surveyors has changed its image to reflect its expansion into markets including the north of England and Scotland.The firm has adopted a new logo, using a map of the UK to reflect the area it now serves.

  • CHL appoints head of finance

    6 Jun 2005

    Ludwig Krause has been appointed head of finance at Capital Home Loans, the buy-to-let and self-cert lender. Krause moves to the job from Ab Integro Aviation, an aviation finance company, where he was head of finance.

  • Cleary tipped for top directorship

    6 Jun 2005

    Rumours are rife that BM Solutions head of sales Alan Cleary is to be promoted to director of sales at Halifax Intermediaries and BM Solutions.If true, it would be a significant boost for Cleary, who has shown enthusiastic loyalty to the HBOS subsidiary. The newly created role will be one of the most sought after in the mortgage industry as Halifax Intermediaries' sales, combined with BM Solutions', represent almost one-third of all introduced mortgage business.Cleary joined ...

  • Coulson says network on track for July 1 launch

    6 Jun 2005

    Richard Coulson has named July 1 as the official date for the unveiling of his network, Home of Choice, and says despite "gagging" attempts by Zurich, everything is on track for a successful launch.Coulson says Zurich has tried to gag him to stop him promoting the launch, but he has not been inhibited and has been inundated with calls from advisers looking to join the network, some of whom were previously Zurich Advice Network members.He says: "We've not been inhibited by attempts ...

  • Coventry chooses e.surv chartered surveyors

    6 Jun 2005

    e.surv has revealed that Coventry has chosen it to strengthen the arrangements for its volume valuation instructions following a review of strategic requirements.

  • Create your own tipping points

    6 Jun 2005

    John Prust, sales and marketing director of Southern Pacific Mortgage Limited, says firms in our industry can learn some lessons and create their own tipping points.

  • Critical illness founder slams UK definition obsession

    9 Jun 2005

    The founder of the first critical illness product has accused the UK protection industry of being "obsessed" with definitions of illnesses.

  • Cummings takes over from Severn at AIFA

    6 Jun 2005

    Severn had only been in the role since February, after joining from the Financial Services Authority where he was head of retail investment policy. Chris Cummings , director of the Association of Mortgage Intermediaries, will take over Severn's position, with Fay Goddard, currently director of policy at AIFA, taking over as deputy director-general of AIFA and AMI. AIFA chairman John Gummer, MP, says: "AIFA is saddened by the circumstances of Severn's departure ...

  • Curriculum Vitae - James Rodea

    6 Jun 2005

    "My favourite song is The Greatest Dancer, becausethat's what I am"

  • Dear Delia

    6 Jun 2005

    Dear Delia Jenny and John are first-time buyers and anxious to move out of rental accommodation, costing them 700 a month.

  • Debt? No problem

    6 Jun 2005

    The vast majority of Britons don't consider their debt repayments to be a problem, research by MORI reveals. It shows those struggling with debt are typically in their 20s and 30s, have children and are living in rented accommodation, earning less than 9,500 a year.

  • Delia should get the story straight on Right to Buy

    6 Jun 2005

    From Richard Lowe In Dear Delia in Mortgage Strategy May 23, the person who posed the question does not understand Right to Buy and John Rattigan of Cartel does not understand Right to Buy criteria. If the valuation was 65,000 the purchase price could not be 50,000 as the minimum discount is 32% i.e. 20,800, making the purchase price 44,200. With regard to Rattigan's reply, he should know the council pre-emption period is three years and not five. Also, the statement ...

  • em offers POSD facility with GMAC

    10 Jun 2005

    em-financial has joined up with GMAC and can now offer the POSD facility.

  • Fact file published on the regulation of brokers

    6 Jun 2005

    The Chartered Insurance Institute and the Society of Mortgage Professionals have teamed up to publish a fact file on the regulation of mortgage, insurance and investment brokers.Intended to complement the recently published fact file on the regulation of mortgage business and other files on the regulation of general insurance and life and investment business, the title joins the growing portfolio of specially commissioned online technical guides in the CII's online information service ...

  • Financial Health Matters

    6 Jun 2005

    The words "your home may be repossessed if you do not keep up repayments on your mortgage" are not an empty threat - even though numbers are currently low.

  • FMO add lifeQuote to its panel

    7 Jun 2005

    First Mortgage Options has increased its life and general insurer panels with the inclusion of LifeQuote for life and critical illness protection policies.

  • FMO increase protection and GI panel

    7 Jun 2005

    First Mortgage Options, the mortgage distribution and support services group, has increased its life and general insurer panels with the inclusion of Paymentshield Plus for life and protection policies, and Paymentshield for household insurance and ASU.

  • Friends reunited

    6 Jun 2005

    The careers of successful industry figures reveal a network of cross-connections often dating back decades, says Harvey Jones

  • FSA fees

    6 Jun 2005

    The publication of FSA Policy Statement 05/6 Regulatory Fees and Levies 2005/06 provides the industry with final details of the amounts due from authorised firms. The Association of Mortgage Intermediaries has welcomed the establishment of an instalments scheme and the 50% second line discount for firms with regulated incomes of less than 100,000.

  • FSA response to open letter - part II

    6 Jun 2005

    In response to the question of what the regulator will do to ensure a level playing field for packagers and consistency in KFIs, the answer appears to be nothing, says Richard Griffiths

  • FSA will not tolerate phoenix firms

    10 Jun 2005

    The FSA has told financial advisers that it would not tolerate firms attempting to sidestep their liabilities to customers by moving assets between companies.

  • FSA's review of ASU should be welcomed

    6 Jun 2005

    Talk to some people in the mortgage industry and they would have you believe statutory regulation is akin to taking a sledgehammer to crack a nut.

  • FTBs have unrealistic view

    6 Jun 2005

    A&L's latest quarterly Moving and Improving Index shows 60% of prospective buyers who are currently renting or living with their parents plan to buy a property costing just 120,000.This leaves them short by at least 29,000 of the real cost of the typical first-time buyer property, which stands at 149,470.Borrowers in their 30s are planning to spend least, with 71% of those aged between 30 and 39 expecting to buy a place for under 120,000.The index also shows that 64% of ...

  • FTBs must flex their market muscle

    6 Jun 2005

    In what has become a buyers' market it is important that aspiring first-time buyers do all they can to help themselves and are aware of all the advantages they have, says Duncan Pownall

  • FTBs take longer to save deposits

    6 Jun 2005

    First-time buyers now take a whopping four years and nine months to save a 5% deposit for a house, research from National Savings and Investments has revealed.It is harder than ever for first-time buyers to get on the property ladder, taking three months longer than just six months ago and nine months longer than a year ago.The government-backed savings and investment provider says worst affected are first-time buyers in East Anglia, where saving for a deposit takes a record ...

  • GM to examine options for GMAC financial arm

    8 Jun 2005

    General Motors is reported to be examining options for its GMAC financial arm, following a loss of 25,000 manufacturing jobs in the US.

  • Government rebuffs SIPP tax concerns

    8 Jun 2005

    The government has rebuffed claims that adding residential buy-to-let to pensions will lead to a loss in tax revenue and says there will be no change to the planned extension of Self Invested Pension Plans.

  • Government scheme will be ineffective in London

    6 Jun 2005

    The salary required to buy 75% of a property and rent the other 25% is over 30,000 in all of London's boroughs, a wage beyond the means of many of the capital's first-time buyers.In Kensington & Chelsea, this figure is as high as 77,700, while the most affordable borough for first-time buyers is Barking & Dagenham where a salary of 30,969 would be required. Even if potential owners buy 50% of the property, the minimum salary needed is 21,286, again in Barking & Dagenham.The ...

  • Has the B2L market come to a standstill?

    6 Jun 2005

    The research shows new instructions from landlords to let their properties have stalled for the first time since 1998.Jeremy Leaf, spokesman for RICS, says: "Poor prospects on returns and capital growth are keeping investors out of the buy-to-let market, though continuing healthy tenant demand means existing landlords are holding firm."So, Mortgage Strategy asks: "Do you agree the buy-to-let market has come to a standstill and if so, do you think this is because of ...

  • High-tech Clover

    6 Jun 2005

    Midlands-based brokerage Clover Financial has adopted the MortgageStream system to process its mortgage, life and general insurance policies.MortgageStream's built-in text messaging service means clients can be kept up-to-date while every phone call is logged and the conversation recorded. New leads will now be exported from MortgageStream to Trigold, then sent to any of its 35 advisers using the Trigold briefcase email attachment.

  • Home reversions must be regulated as soon as possible

    6 Jun 2005

    From Stephen Haddrill It's not often that consumer groups and the industry come together to call for tighter regulation, but in the case of equity release the market will only grow if consumers are confident it is properly supervised. The recent warning from the FSA reinforce this. We have campaigned over the past year for the introduction of legislation to bring home reversion products under the same regulatory framework as other equity release schemes. We are pleased that ...

  • Homebuy scheme to benefit lower earners

    7 Jun 2005

    Council and housing association tenants could be eligible to buy a share of their homes under the Government's shared equity housing schemes, providing they have joint incomes below 15,000 in the North of England and 20,000 in the South-East

  • House prices fell by 0.6% in May, reveals Halifax

    7 Jun 2005

    The latest Halifax house price index shows house prices fell by 0.6% in May and the average price is 162,411.

  • Housing market stable, says Propertyfinder.com

    10 Jun 2005

    Propertyfinder.coms May survey shows a turnaround in confidence among house hunters over the prospects for the housing market.

  • How you can avoid the portability trap

    6 Jun 2005

    Brokers must ensure their clients are aware of terms and conditions concerning the portability of the mortgage they recommend or they could be in for trouble later, says Neal Smith

  • IF makes offsets more attractive

    6 Jun 2005

    Intelligent Finance has slashed its arrangement fee, cut rates and removed all early repayment charges on most of its offset mortgage range.It has also reduced the rates on its non-offset fixed rate mortgages, and removed early repayment charges on its non-offset tracker range.IF says it is taking advantage of beneficial movements in swap rates and hopes to provide brokers with more reasons to recommend offsets with its competitive rates.Nick Robinson, managing director ...

  • Insight increases UK equity team

    10 Jun 2005

    Insight Investment has announced the recruitment of Eric Moore as a senior portfolio manager in its core UK equity team.

  • Intermediaries predict SIPPS boost for buy-to-let

    6 Jun 2005

    Intermediaries have high hopes for the property investment market following the decision to allow property to be held in Self Invested Pension Plans.

  • Internet Insight

    6 Jun 2005

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

  • John Charcol comments on unchanged interest rates

    9 Jun 2005

    Ray Boulger of John Charcol, comments on the decision by the Monetary Policy Committee to hold the base rate at 4.75% for the tenth consecutive month.

  • Knight Frank planning to set up financial services division

    6 Jun 2005

    Knight Frank, one of the country's leading high net worth estate agency chains, is looking to set up financial advisory services and is on the hunt for a head of mortgages.Sources say Knight Frank has seen the success achieved by the likes of Savills and Hamptons International through their mortgage broking divisions and wants to win some of this market. Currently it refers mortgage business to John Charcol but wants to branch out on its own.A source says: "It is looking for ...

  • Landlords favour amicable approach to evictions

    6 Jun 2005

    Research from the National Landlords Association shows that when things dont work out with a tenancy, landlords prefer to sort things out amicably.

  • Learning from the industry's stars

    6 Jun 2005

    They say it's a small world and the chances are several of your colleagues will pop up again unexpectedly, later in your career. You might be asking one of them for a job - or perhaps your current boss will be reporting to you.

  • Leeds & Holbeck launches new B2L range

    7 Jun 2005

    Leeds & Holbeck has launched a new buy-to-let mortgage range, which is designed to suit the needs of landlords looking for a competitive fixed rate or who wish to track the Bank of England base rate.

  • Legislation cuts unruly hedge owners to size

    6 Jun 2005

    The measures mean neighbours who cannot resolve their disputes over the height of hedges can ask local authorities to intervene.Where needed, the local authority will be able to serve a remedial notice to the hedge owner to identify what they must do to sort the problem out. If they fail to comply with the notice, they could be fined up to 1,000.Complaints will only be considered where the hedge is evergreen, over two metres high and blocking out light, access or reasonable ...

  • Lenders split on transfer fees

    6 Jun 2005

    The Yorkshire subsidiary, which pays intermediaries a 0.2% proc fee on existing borrower transfers, says there is no reason other lenders can't do the same.Iain Smith, sales director at Accord, says: "We are in the first stage of our products reaching the end of their term. As an intermediary-focussed organisation, we feel we should offer a proc fee for transferring these cases. We feel this builds a good relationship with the intermediary and have had positive feedback from it. ...

  • Lending rule changes will help clients shop around

    6 Jun 2005

    Lenders now have to provide pre-contractual information for borrowers, setting out the main facts of the loan such as the amount borrowed, amount repayable, amount and frequency of repayments, APR and the cost of any default penalties.Most importantly, the changes scrap the Rule of 78 for calculating how much is payable for borrowers who want to settle loans early. Instead, borrowers would simply pay two months' interest charges. Lenders also have to ensure examples of what the ...

  • Let us make up our own minds on product's merits

    6 Jun 2005

    From Brian Brotherton C E Sheldon rants on about how wonderful his product is (Mortgage Strategy May 23) but I suggest he looks at his marketing campaign rather than his product development. How can we discuss a product we have never heard of, never mind recommend it? My advice is to spend some money on advertising his special mortgage repayment plan in a publication that targets brokers and let's see if we think it's as good as he thinks it is. So, the question should be ...

  • Lifequote protects brokers against mis-selling claims

    6 Jun 2005

    The guarantee is available to all directly authorised advisers and principals with appointed representative advisers.Under regulation, with insurers no longer taking responsibility for the sale of products, industry studies from Standard Life reveal that around a third of all failed claims for life and critical illness come about as a result of non-disclosure issues.The firm says that insurance mis-selling is a time-bomb, and adds that many non-disclosures result from the sticky ...

  • Liquid Assets

    6 Jun 2005

    In the past couple of years there has been a steady increase in the number of drawdown lifetime mortgages available.

  • Londoners flee capital

    6 Jun 2005

    New research from Halifax shows that almost 2.3 million Londoners moved away from the capital over the last 10 years and headed mainly for the suburbs, the South-East and the West Country.

  • Market Watch

    6 Jun 2005

    With swaps continuing to fall significantly, it is surprising that we saw so few lenders pass on the benefits in rates in the last week.

  • MEX 5.29% three-year B2L fix available through TBMC

    8 Jun 2005

    Mortgage Express' 5.29% three-year fixed rate product is now available through The Business Mortgage Company.

  • MI remains confident of growth

    6 Jun 2005

    Mortgage Intelligence is confident its growth plans have been unaffected by more brokers than predicted becoming directly authorised.It says it is focussing on quality rather than quantity and intends to expand further, either through the acquisition of other networks or by organic growth.MI managing director Sally Laker feels too much emphasis has been placed on how many appointed representatives networks have signed up rather than the volume and type of business they are doing.Laker ...

  • Mortgage Advice Bureau expands broker network

    6 Jun 2005

    Mortgage Advice Bureau has expanded its number of financial advisers following a merger between estate agency chain Newton, Derry & Moore and Fallowell & Partners.

  • Mortgage borrowers take 12 years to start paying off loan

    6 Jun 2005

    First Direct has calculated that it takes the average mortgage borrower almost 12 years to start paying off their loans.

  • Mortgages Direct predicts imminent drop in interest rates

    9 Jun 2005

    Despite the Bank of England's Monetary Policy Committee's announcement that interest rates will remain at 4.75%, research from Mortgages Direct reveals that borrowers are optimistic that interest rates will fall in the imminent future.

  • Moving Home costs 10bn a year Woolwich survey reveals.

    8 Jun 2005

    The annual Woolwich cost of moving survey has revealed that, excluding the cost of the house, a whopping 10.6bn was spent last year on just moving home.

  • MS reveals nepotism is alive and well in industry

    6 Jun 2005

    The study - outlined in this week's cover story starting on page 42 - examines the careers of the most successful industry figures to uncover a web of connections, often dating back decades.Most of the individuals studied built their careers at different companies, though their paths continue to cross again and again.Two companies stand out as breeding grounds for industry talent - John Charcol and Bank of Ireland. These are closely followed by Savills Private Finance.Mark ...

  • MT launches two tracker products from BMS

    7 Jun 2005

    The Mortgage Times Group has released two new stepped tracker products fully funded by BM Solutions.

  • MTE hits back at Purely fees claim

    6 Jun 2005

    The Mortgage Trading Exchange has hit back at Purely Mortgages' chief executive Mark Chilton, who criticised the trading platform's technology for being partly responsible for the broker having to start charging fees.In a sudden U-turn last month, Purely dropped its fee-free stance and introduced a flat fee of 195 for each client.Chilton told Mortgage Strategy last week: "The common trading platform is not doing the job it was designed to. It's like the early days of ...

  • Nationwide first personal loan provider to introduce summary box

    6 Jun 2005

    Nationwide has launched a summary box for all new personal loans.

  • New DIY software and marketing course

    10 Jun 2005

    Two hertfordshire based companies that support IFAs by providing software support and marketing services are to join forces to deliver one day courses on technology assisted do it yourself marketing.

  • Nicks Notes

    6 Jun 2005

    It looks like chancellor Gordon Brown has thrown first-time buyers a lifeline with his plans for part ownership of properties.

  • Northern Rock reduces rates on two-year flexible fixed rates

    8 Jun 2005

    Northern Rock has reduced rates by 0.1% on its two-year flexible fixed products up to 85% LTV. The new rates, with no extended early repayment charge, are 4.69% with arrangement fee, or 5.09% without an arrangement fee. Stepped flexible fixed rates have also been reduced by 0.1% and now start at 3.69%. All of these products are fully flexible and offer a 1,000 help with costs option and no higher lending charge.

  • On The Beat

    6 Jun 2005

    Accusations of gesture politics are high on the agenda again. Only the least cynical could have been swayed by the chancellor's announcement of be help for first-time buyers with a new mortgage scheme.

  • Online tracking

    6 Jun 2005

    The Business Mortgage Company is to launch an online case tracking facility. Andy Young, managing director of TBMC, says: "This will allow brokers to cut out the cost and time of telephoning."

  • Pavillion completes first case with Victoria Mortgages

    6 Jun 2005

    Pavillion Securities, one of only 18 packagers used by Victoria to distribute its products, has completed Victorias first mortgage loan.

  • Pink reshuffles directors

    6 Jun 2005

    Malle was previously head of operations at the aggregator and his move to become sales director is intended to free up the services of sales and marketing director David Copland.Copland will now take the title of marketing director, allowing him to concentrate on the firm's expanding propositions.Meanwhile Elliot Stoneham, previously commercial and IT director, will be taking on a more defined role in the company as commercial director.Press officer Katy Jenkins will be ...

  • Platform appoints HR director

    8 Jun 2005

    Platform has appointed Peter Egner to the role of human resources director.

  • Preferred joins PMPA panel of lenders

    6 Jun 2005

    Preferred has been invited by the Professional Mortgage Packagers Alliance to become a lender partner.

  • Prescott pushes forward with 60,000 house challenge

    7 Jun 2005

    Deputy prime minister John Prescott has invited 33 orginisations to participate in the challenge for house builders to design and construct high quality homes for around 60,000.

  • Rates Ladders

    6 Jun 2005

    So, the Financial Services Authority has pronounced on the production of Key Facts Illustrations. It seems that a degree of disparity exists between providers and that some KFIs are excessive in detail and should be reduced in length.

  • Rates frozen at 4.75%

    9 Jun 2005

    The Bank of England has frozen interest rates at 4.75% for the 10th month in a row.

  • Regulation prevents development, says CBI survey

    10 Jun 2005

    Regulation and red tape is viewed by business as the number one factor preventing development, says a survey by the CBI and the Regional Development Agencies.

  • Rural problems highlighted

    6 Jun 2005

    SPARSE is a coalition of more than 50 of England's most rural local authorities.The Rural Manifesto, the second to be published by SPARSE, sets out the cross-party lobby group's position on a range of issues, with Council Tax and housing provision top of the list.While SPARSE successfully petitioned for local authorities to raise additional Council Tax revenue on second homes, it is concerned the 90% Council Tax is not being ploughed into community projects such as affordable ...

  • Select Mortgage Intelligence for new three-year fix

    8 Jun 2005

    Mortgage Intelligence members have access to a new three year deal in the MT Select range of buy-to-let products from specialist lender the Mortgage Trust.

  • SIPPs may not be able to invest in residential property

    7 Jun 2005

    Chancellor Gordon Brown is under pressure today at the second reading of the Finance Bill to rethink his stance on allowing residential property to be held in the tax shelter of a personal pension.

  • Sites of interest for intermediaries

    6 Jun 2005

    Since starting his round-Britain tour of broker websites in 2003, Jeff Sutherland-Kay has reviewed more than 200 and here he gets to nominate six entrants to his Hall of Fame

  • SmartNewHomes calls for rate rethink to boost housing

    7 Jun 2005

    SmartNewHomes has responded to the recent Halifax house price index by stating that the Bank of England must reduce interest rates in order to boost a flagging housing market.

  • SmartNewHomes.com slams unchanged interest rates

    9 Jun 2005

    The Monetary Policy Committees decision to hold base rates at 4.75% has been slammed by SmartNewHomes.com.

  • Social housing tenants to benefit from HomeBuy

    6 Jun 2005

    Council and housing association tenants with joint incomes below 15,000 in the north of England and 20,000 in the South-East could be eligible to buy a share of their homes under the new Government shared equity housing scheme -Social HomeBuy.

  • Stamp duty reduction will boost first time buyers

    7 Jun 2005

    More first time buyers will step onto the property ladder following the recent reduction in stamp duty, research from Barnett's Solicitors' online survey reveals.

  • Sub-prime on the up, says Advantage

    9 Jun 2005

    The results of the Advantage non-conforming index for 2005 show that overall the market is edging steadily upwards.

  • Sunday Group to expand on acquisition path

    9 Jun 2005

    The Sunday Group is looking to expand its business through an acquisition programme.

  • TBMC review its lender panel

    8 Jun 2005

    Andy Young, managing director at The Business Mortgage Company is set to review TBMC's lender panel.

  • The Derbyshire reduces exclusive Pink rates

    10 Jun 2005

    The Derbyshire has slashed the three-year fixed rate buy-to-let mortgage it funds for Pink Home Loans by 0.2%.

  • The Derbyshire revises buy-to-let range

    10 Jun 2005

    The Derbyshires intermediary support unit is revamping its entire range of fixed rate buy-to-let mortgages on June 13.

  • The Derbyshire slashes MI exclusive rates

    10 Jun 2005

    The Derbyshire has slashed the rates of two exclusive fixed rate buy-to-let mortgage products it funds for Mortgage Intelligence by 0.2%.

  • The Derbyshire teams up with Premier Mortgage Services

    10 Jun 2005

    The Derbyshire has teamed up with Premier Mortgage Services to launch an exclusive three-year fixed rate buy-to-let mortgage.

  • The Exchange launches multi-tie solutions for distributors

    9 Jun 2005

    The Exchange has powered the launch of the multi-tie operations for three leading distributors.

  • The Mortgage Mole

    6 Jun 2005

    Digging the dirt in the mortgage world

  • Three non-executive directors join FSCS board

    6 Jun 2005

    The Financial Services Authority has appointed three non-executive directors to the board of the Financial Services Compensation Scheme.

  • Thumbs-down for fees-free model

    6 Jun 2005

    The majority of the industry believes last month's U-turn by Purely Mortgages, switching from no fee to low fee, is a clear sign the fee-free business model does not work.Of the 3,701 respondents who answered the question on whether Purely Mortgages' decision to charge means the fee-free model doesn't work, an overwhelming 62% said yes, with only 38% disagreeing.Purely Mortgages has defended its decision to start charging a 195 flat fee regardless of the client's situation, ...

  • Top five time management mistakes to avoid

    6 Jun 2005

    Mark Witcomb is divisional sales manager at Venatus Business Intelligence

  • UCB Home Loans reduces self-cert rates

    6 Jun 2005

    UCB Home Loans has unveiled further reductions to its rates from June 7.

  • Victoria does its first deal

    6 Jun 2005

    Victoria Mortgages has completed its first mortgage deal just weeks after its launch. The lender is part of US firm Venturion Capital, which also owns The Mortgage Operation. Victoria will soon be launching two and three-year discounts on top of adding a stepped near prime product to its range.

  • We must shape our own future - now

    6 Jun 2005

    It is in everyone's interest to reduce the paper mountain and work towards a true e-commerce solution for the mortgage industry in this country as they have in the US, says Frank Eve

  • West Brom MD makes 'Best Boss' shortlist

    6 Jun 2005

    David Mackay, managing director of the West Bromwich Mortgage Company, a subsidiary of the building society, will find out later this month if he's to be named Britain's Best Boss 2005.

  • What effect will fsa regulation of home reversions have on the market?

    6 Jun 2005

    Regulation will underpin a growing home reversions market, ensuring quality of advice and protection for consumers, say our experts

  • White label AAA system for TMO

    6 Jun 2005

    The Mortgage Operation has launched a white label version of Trigold's Prospector AAA sourcing system .The packager had previously operated its own sourcing system, TMOS, which was used by members of its now defunct network. Brokers that use TMO for packaging will now receive a white-labelled copy of Trigold. This will feature TMO sales documents and compliance documents, exclusive product listings and proc fees, and an integrated TMO application form.The company says that with ...

  • Whole loan sales an alternative to securitisation

    7 Jun 2005

    The burgeoning European whole loan sales market offers mortgage lenders a viable alternative to securitisation, a report published today by Standard & Poor's Ratings Services reveals.

  • Why not use Portman's optimiser phone service?

    6 Jun 2005

    From Paul Howard I must take issue with Michael Nicholls who complained about the poor telephone service from Portman (Mortgage Strategy May 23). It is true we have been receiving record levels of mortgage business which has created a substantial

  • Why the housing market is flat

    7 Jun 2005

    Data released this morning provides further evidence of a flat housing market.

  • Working together to get things done

    6 Jun 2005

    The benefits of constructive engagement with the regulator were clearly demonstrated at the Association of Mortgage Intermediaries' inaugural annual dinner, says Ben Stafford

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