Mortgage Strategy
7 April 2008

  • Lifetime trackers from Woolwich

    7 Apr 2008

    Woolwich has unveiled a range of lifetime trackers available up to 95% LTV, plus two offset trackers available up to 90% LTV.

  • Taking the moral high ground

    11 Apr 2008

  • 64% Of brokers have reviewed their PI deals

    7 Apr 2008

    A whopping 64% of Mortgage Strategy Online readers have reviewed their professional indemnity policies in the past six months. Just 36% have neglected to do so despite some PI in-surers revising their exemptions.

  • A situation which passes all understanding

    7 Apr 2008

    A few years ago I found myself at a parliamentary breakfast at which I defined a key worker as the son or daughter of a politician - a quip that the Westminster gravy train around the table found hard to digest.

  • A&L approved to issue covered bonds

    11 Apr 2008

    Alliance & Leicester has been approved to issue up to around £8bn in covered bonds.

  • A&L to cut SVR by 0.25%

    11 Apr 2008

    In line with the Bank of England's recent interest rate cute Alliance & Leicester will be reducing the SVR on its mortgages by 0.25%.

  • Abbey pulls the plug on 100% mortgages

    9 Apr 2008

    Abbey has become the last major UK lender to pull out of the 100% mortgage market.

  • Abbey withdraws final 100% LTV product

    8 Apr 2008

    Abbey is pulling the market’s last 100% mortgage from tomorrow.

  • Accord withdraws prime fixed and tracker rates

    11 Apr 2008

    Accord Mortgages has today withdrawn all of its prime fixed-rate and tracker products.

  • AfI aims for more offers via risk-based pricing

    7 Apr 2008

    Abbey for Intermediaries aims to offer nine out of 10 mortgage deals in the foreseeable future after switching to risk-based pricing.

  • Agents lose faith in housing market

    7 Apr 2008

    Estate agents' confidence in the housing market plummeted last month, according to HotProperty.co.uk's confidence index. This reveals a 22% fall in confidence among agents in March compared with February. Shawn Luetchens, managing director of the property portal, says the result is due to a seasonal slowdown plus negative media coverage.

  • AMI lobbies for individual registration

    7 Apr 2008

    The Association of Mortgage Intermediaries is campaigning for individual registration to prevent fraudsters entering the broker market.

  • An example of partnership paying off

    7 Apr 2008

    Partnership - there's a word that's often abused in the mortgage industry. My pocket dictionary defines partnership as a joint venture between two parties and at the moment, balance sheet lenders are under fire over how they are dealing with clients, brokers, packagers and everyone else.

  • Another round of product and rate changes

    7 Apr 2008

    Brokers were faced with another surge of product changes last week as lenders strived to balance service standards with spiralling business volumes and funding costs.

  • Arrears crisis is only a matter of time

    7 Apr 2008

    When the liquidity crisis began I suggested it might lead to an arrears crisis. This seems increasingly likely as more products disappear from the market.

  • Bank of England base rate

    10 Apr 2008

    In a dazzling display of dour predictability the Bank of England todaycut rates by the expected 0.25% to 5.0%.This was a good opportunity to finally take the gloves off and knock atleast a half point off the Base Rate in order to have a more substantialeffect. In reality this quarter point cut will not have a massive effectas it will just go part of the way to offset the larger hikes ininterest rates that lenders themselves have initiated over the pastweeks. ...

  • Banks' contempt for their lifeblood is astonishing

    7 Apr 2008

    We've recently seen banks reduce ther staffing and service levels while boosting salaries and bonuses at the top.

  • Batten down for a complaints storm

    7 Apr 2008

    The FOS is worried about the rising number of mortgage-related complaints and this trend could be about to accelerate so brokers must ensure their processes are compliant, says Bill Warren

  • BDS Secured Loans extends 10% proc fee promise

    7 Apr 2008

    BDS Secured Loans has extended its pledge to pay brokers an extra 10% commission on all deals received by April 30.

  • BDS Secured Loans reveals 50% growth

    8 Apr 2008

    BDS Secured Loans has revealed a 50% growth in its business in 2008.

  • BDS Secured sees 50% growth

    8 Apr 2008

    BDS Secured Loans has seen 50% growth in its business since the turn of the year.

  • Brokers embrace Blemain changes

    11 Apr 2008

    Brokers have embraced Blemain Finance’s minimum standard requirements for service on packaged cases issued at the end of 2007, says the firm.

  • Brokers see light in the darkness

    7 Apr 2008

    Last Monday's news that Lehman Brothers had suspended lending was another sign of how rapidly the UK mortgage market is contracting.

  • Brown says UK can deal with liquidity crisis

    8 Apr 2008

    Prime Minister Gordon Brown claims the UK is well placed to deal with the global economic crisis.

  • Bucking the trend

    7 Apr 2008

    Equity release sales slipped last year thanks to the liquidity crisis but the market remains in good shape and brokers will benefit from continuing demand for such products, says Harvey Jones

  • Centrepoint appoints BDM for Wales and South West

    7 Apr 2008

    General insurance distributor Centrepoint has appointed Mark Bell-Langford as BDM for Wales and the South West.

  • Chancellor launches mortgage finance working group

    9 Apr 2008

    Sir James Crosby will lead a group of mortgage industry experts, providing advice to the government on options for improving the function of mortgage finance markets, the Chancellor of the Exchequer, Alistair Darling has announced.

  • Chaseblue acquires remaining shares from minority shareholder

    11 Apr 2008

    Specialist packager Chaseblue Loans has bought the minority shareholding from Chase UK Corporation for an undisclosed amount.

  • Chelsea to reprice sub-prime range

    7 Apr 2008

    Chelsea will be withdrawing its currennt sub-prime Prospect range from close of business today.It will be introducing new sub-prime rates via Prospect tomorrow.The rates will be available on the website from Tuesday morning. All other Chelsea mortgage products remain unchanged.Prospect applications on the current range must be submitted by 5pm today to secure the rate.

  • Chelsea withdraws Prospect sub-prime range

    7 Apr 2008

    Chelsea will be withdrawing its sub-prime Prospect range from close of business today.It will be introducing sub-prime rates via Prospect tomorrow.The rates will be available on the website from Tuesday morning. All other Chelsea mortgage products remain unchanged.Prospect applications on the current range must be submitted by 5pm today to secure the rate.

  • Clients should be contacted sooner rather than later

    7 Apr 2008

    I take exception to your columnist Ju-lian Wells saying it is a worrying development that brokers are contacting their clients months before their deals come to an end (Mortgage Strategy March 31).

  • CML urges BoE to lead global action

    11 Apr 2008

    The Council of Mortgage Lenders chairman has urged the Bank of England to lead a global action plan to alleviate turmoil in the financial markets.

  • Commercial First boss hits the jackpot at Grand National

    7 Apr 2008

    Commercial First chief executive David Johnson was in the winner’s circle this weekend following a win at the Grand National.

  • Commercial First chief's horse wins Grand National

    7 Apr 2008

    Commercial First chief executive David Johnson was in the winner’s circle this weekend following a win at the Grand National.

  • Commercial First places 50% of staff into consultation

    8 Apr 2008

    Following the announcement last month that specialist commercial lender Commercial First, has been forced to suspend new lending, the company has confirmed that it has entered into a consultation period with its staff.

  • Competition targets brokers

    7 Apr 2008

    The Mortgage Alliance and Loanmakers have announced an exclusive competition for members to win a five-star hotel and theatre break in London. To qualify, brokers need to submit a lead to Loanmakers between April and June.

  • Complete offers debt management service

    10 Apr 2008

    Mortgage packager and distributor, Complete Mortgage and Loan Services has joined forces with Nationwide Financial Management Limited to offer brokers the Complete Debt Solution.

  • Cool reception for mortgage review

    7 Apr 2008

    Two of the Industry's key trade bodies have lambasted The Financial Services Authority for the unsurprising outcome of the second stage of its Mortgage Effectiveness Review.

  • Co-op profits fell by £26m last year

    7 Apr 2008

    Co-operative Bank saw a £26m decline in its operating profits last year after being forced to write down £31.8m worth of investments. The bank's results for 2007 show pre-tax profits dropped to £50.4m from £76.3m in 2006. Excluding write-downs, the bank's profits increased from £76.3m in 2006 to £82.2m last year. The bank is part of Co-operative Group's financial services arm which saw a rise in pre-tax profits to £155.4m from £146.2m in 2006.

  • Coventry enters NI mortgage scene

    7 Apr 2008

    Coventry Intermediaries has launched into the Northern Ireland mortgage market. Jonathan Stinton has been appointed BDM for the region.

  • Criteria and not rate is driving market, says Barnetts

    11 Apr 2008

    Conveyancing firm Barnetts Solicitors is urging the industry to look beyond the interest rate drop and recognise that it is actually lender criteria that is driving the housing market.

  • CurriculumVitae: Clare Bettelley

    7 Apr 2008

    "I'd like to cycle so fast Ipuncture a hole in reality"

  • Cutting fees would be short-sighted

    7 Apr 2008

    It would be unwise for lenders to cut brokers' proc fees because they would find alternative ways of drumming up business considerably more expensive, says Mark Harris

  • Darling calls on G7 to unite against crisis

    11 Apr 2008

    Chancellor Alistair Darling has called on the world's economic leaders to unite and take urgent action to stave off “the biggest economic shock since the Great Depression”.

  • Darling in Washington talks on global action plan

    9 Apr 2008

    News that the chancellor is to meet international finance ministers in a bid to launch a global action plan to help the credit markets, coincided with a Treasury Committee warning that the Treasury may be underestimating risks that the liquidity crisis poses to the UK economy.

  • Dear Delia

    7 Apr 2008

    My client is a consultant at an NHS hospital but recently started his own private practice in orthopaedics. He wants to buy a property for £800,000 and will have £250,000 equity from the sale of his current home. His local bank has declined the application because he's only been in private practice for nine months. His NHS income is £80,000 a year and the private practice's projected earnings in its first year are £100,000. What are his options?

  • Debt Advice Portal appoints Debt Alliance Limited to panel

    7 Apr 2008

    Debt Advice Portal has added personal bankruptcy management firm Debt Alliance Limited to its debt solutions panel.

  • Deposit scheme disputes are rare

    7 Apr 2008

    A tenancy deposit scheme has recorded just 341 disputes among its 200,000 accounts. Mydeposits.co.uk says the 200,000 figure represents more than £177m worth of deposits protected by some 31,000 landlords and letting agents.

  • Driven

    7 Apr 2008

    Mole is looking forward to the drive of his life later this week at the PalmerSport driving event at Bedford Autodrome, courtesy of those nice chaps at HBOS

  • EDGE V2 goes live with integrated KFI for Platform

    9 Apr 2008

    EDGE V2, the specialist sourcing and execution system of Enterprise Group, has gone live today with fully integrated Key Facts Illustration functionality with Platform.

  • EDGE V2 offers online DIP

    8 Apr 2008

    EDGE V2, the online sourcing and execution system from Enterprise, has now added a generic decision in principle facility for every lender on the panel that provides DIP options.

  • Elephant Loans & Mortgages set to buy Financial Trade Partnership

    11 Apr 2008

    Elephant Loans & Mortgages has agreed outline terms to acquire Financial Trade Partnership, which operates the UK’s largest network of secured loan advisers.

  • Expo Manchester to focus on commercial finance

    7 Apr 2008

    Mortgage Business Expo Manchester will focus on commercial finance, organisers reveal today.

  • Fed auctions $50bn in 28-day credit

    7 Apr 2008

    The US Federal Reserve is offering $50bn in 28-day credit today through its Term Auction Facility.

  • Fed chief attacks ratings agencies and investors

    11 Apr 2008

    The chairman of the US Federal Reserve has blamed the credit crunch on ratings agencies and the sub-prime securities investors who believed them.

  • First Active's policy used to be clear, but not any more

    7 Apr 2008

    I'm writing to express my dissatisfaction and frustration after finding out that First Active has changed its retention strategy the hard way.

  • First Direct halts new lending

    7 Apr 2008

    First Direct has suspended new lending after applications soared to five times their normal volume.

  • Fitch says UK banking system "very strong'

    7 Apr 2008

    Fitch Ratings has called the UK banking system "very strong" in its most recent Bank Systemic Risk report.

  • Fixed deals soar in March

    8 Apr 2008

    Around two thirds of UK borrowers chose a fixed deal in March, says the latest Charcol Mortgage Monitor.

  • Focus to host regulatory technology conference

    11 Apr 2008

    Focus Solutions is hosting a free regulatory industry briefing for the mortgage market.

  • Former Optoma chief in partnership talks

    7 Apr 2008

    Andrew Seymour, former chief executive of Optoma Mortgage Services, is in talks with Connect Mortgage Group about establishing a packaging partnership.

  • Former Optoma chief in partnership talks

    7 Apr 2008

    Andrew Seymour, former chief executive of Optoma Mortgage Services, and Connect Mortgage Group are locked in negotiations about establishing a packaging partnership.

  • FSA flops feather their nests while the industry suffers

    7 Apr 2008

    Tiner - £325,000 gardening leave.

  • FSA regulation is a funny old game

    7 Apr 2008

    Soon after the late and not so great Robert Max-well met his briny fate, my son bought me a delightful board game that provided me with hours of schadenfreude.

  • FTB fees up 35% year-on-year

    8 Apr 2008

    Average fees for first-time buyers on the top five mortgages have shot up by around 35% since this time last year, says Mform.co.uk.

  • Full steam ahead

    7 Apr 2008

    Lenders are on track to implement the Treating Customers Fairly initiative as long as difficult market conditions don't derail them, says Peter Williams

  • Future Mortgages slashes LTVs

    7 Apr 2008

    Future Mortgages is slashing LTVs on its first mortgage product range to 80%.

  • Future reviewing position in the secured loan market

    11 Apr 2008

    Future Mortgages is reviewing its position in the secured loan market and had suspended online applications and completions.The Citigroup owned lender is believed to be going to make an announcement in the next few days regarding whether it has decided to pull from the secured loans market.Future suspended its secured business on Friday while it reviews its position in the market.

  • Future slashes LTVs

    7 Apr 2008

    Future Mortgages is slashing LTVs on its first mortgage product range to 80%.

  • GE Money to push igroup brand through packagers

    11 Apr 2008

    Mark Snape, sales director for the packager channel at GE Money Home Lending says packagers are still a huge part of its business and is hoping to get more packagers on board offering its igroup range.

  • Get answers straight from FSA's mouth

    7 Apr 2008

    Regular readers of this column will know that I am happy to stand up to the regulators when they get things wrong. Many small brokers are worried about openly criticising organisations such as the Financial Services Authority and Financial Ombudsman Service but I'm happy to voice their concerns.

  • Global crisis may cost nearly $1trillion

    9 Apr 2008

    The International Monetary Fund predicts losses resulting from the global economic crisis could reach nearly $1trillion.

  • Global financial crisis may cost nearly $1trillion

    9 Apr 2008

    The International Monetary Fund predicts losses resulting from the global economic crisis could reach nearly $1trillion.

  • Godiva joins The Exchange

    10 Apr 2008

    Godiva Mortgages has become the 16th provider to join The Exchange online equity release service on the Exweb portal.

  • Goldsmith Williams boosts sales team

    8 Apr 2008

    Goldsmith Williams has ramped up its sales force to provide brokers and distributors with enhanced service.

  • Good intentions behind council estates

    7 Apr 2008

    Social housing was a result of the vision of a remarkable Victorian lady who was horrified by the living conditions in London's tenement blocks, says Simon White

  • Gordon Brown confident about UK economy

    9 Apr 2008

    Prime Minister Gordon Brown has brushed off talk of a crisis in the economy and says that figures from the Halifax showing a 2.5% drop in house prices should be looked at in perspective.

  • Halifax gets tough on loan deposits

    7 Apr 2008

    Halifax will penalise all borrowers who fail to stump up 25% deposits from today.

  • Have home information packs improved the property buying and selling process?

    7 Apr 2008

    Our experts are split, with one saying HIPs have resolved several problems and the other maintaining they are a waste of time and money

  • HML finance director takes over client relations

    8 Apr 2008

    Homeloan Management has appointed Neil Warman as client relations director in addition to his role as finance director.

  • HML makes sales appointment

    7 Apr 2008

    Mike Perry, former director of sales at Amber Homeloans, has been appointed director of sales and marketing at Homeloan Management with effect from April 14.

  • House prices down 2.5% in March

    8 Apr 2008

    Halifax has revealed a 2.5% drop in house prices last month in its latest house price index.

  • House prices static in February

    7 Apr 2008

    The Land Registry says house prices in England and Wales remained static during February, with the average price standing at £185,616. Prices in London fell by 0.4%, with average house prices dropping to £353,760. But at 10.6%, annual growth in the city remains higher than in any other region. The West Midlands experienced the highest monthly price rise with an increase of 1.3%.

  • HSBC loses the details of 370,000 customers

    7 Apr 2008

    HSBC has admitted to losing a disc containing the insurance details of 370,000 customers.

  • HSBC may deliver hammer blow to brokers

    9 Apr 2008

    HSBC is about to launch cut-price deals for borrowers about to remortgage in a move that could strike a hammer blow to brokers.

  • Identity crisis

    7 Apr 2008

    More from Bettelley’s bash, a night when the booze flowed faster than lenders repricing their deals. Jonathan Cornell got a welcome that was warm and slightly confused.

  • IFA lashes out at “immoral” sub-prime market

    10 Apr 2008

    An IFA has attacked lenders in the sub-prime market and says those that earn higher fees from those in bad debts could be seen as immoral.

  • IF's spin doctors fail to convince me

    7 Apr 2008

    I accept there's a hint of hypocrisy here given I've spent many years as a corporate spin doctor, but I had to smile at Intelligent Finance's recent email to brokers that put a positive gloss on negative news.

  • I'm proud to keep clients updated on the market

    7 Apr 2008

    My blood boiled when I read Julian Wells' patronising article last week. Who is he to preach about brokers putting borrowers first?

  • Industry responds to 0.25% rate cut

    10 Apr 2008

    Pundits from across the market are welcoming the 0.25% interest rate cut by the Bank of England today.

  • It's time for the government to consider innovative solutions to the funding crisis

    7 Apr 2008

    An open letter to chancellor Alistair Darling from Rachel Bancroft

  • Kam Sanghani, managing director, White Label Loans

    8 Apr 2008

    White Label Loan’s products were hot property when they launched into the secured loan market, so Loandistributor.co.uk has put Kam Sanghani in the hot seat to find out what the future holds for the West Bromwich owned lender.

  • Kensington sets 4.30pm deadline for applications

    8 Apr 2008

    Kensington Mortgages has given packagers and brokers a 4.30pm deadline to submit applications each day.

  • Kensington sets tranches to keep distribution fair

    7 Apr 2008

    Kensington has announced set tranches of mortgage funding to be shared equally between packagers and brokers from this morning.

  • KGB Packaging offers lifeline to TMO brokers

    10 Apr 2008

    KGB Packaging has offered a lifeline to brokers who have pipeline cases with The Mortgage Operation, which is set to go into administration.

  • KRS joins equity release panel

    7 Apr 2008

    Key Retirement Solutions has joined The Mortgage Times Group's lifetime mortgage panel. It gives brokers access to exclusive products including cash reserves and drawdown facilities. The panel also incorporates a no negative equity guarantee policy.

  • Landlords confident about B2L future

    7 Apr 2008

    There are mixed signs about the state of the buy-to-let sector but ARLA's research into landlord sentiment shows that 90% of them are in it for the long haul, says Mel Dring

  • Last lap

    7 Apr 2008

    After a couple of visits to the oeteopath and a few calisthenics, Vanessa Blount’s knee is on the mend.

  • Leading questions in a time of crisis

    7 Apr 2008

    Lead generation companies are in the spotlight as an increasing number of desperate consumers seek advice but brokers should use them with caution, says Sally Laker

  • Learn more about bridging finance

    7 Apr 2008

    Specialist lender Tiuta is to host a bridging finance training seminar for brokers on April 9.

  • MAB welcomes base rate cut

    10 Apr 2008

    The Bank of England has cut the bank base rate from 5.25% to 5%.

  • Mark Blackwell laid off after six months at A&L

    7 Apr 2008

    Mark Blackwell has been made redundant from his role as director of intermediary sales at Alliance & Leicester after just six months in the job.A spokeswoman for A&L says the decision is the result of a senior management review within the lender's broker sales division and its increasing fo- cus on asset quality rather than lending volume.She claims A&L has no plans for further redundancies.Blackwell previously worked at Cheltenham & Gloucester, which he joined from The Derbyshire.

  • Market watch 07 April 2008

    7 Apr 2008

    Swaps inched their way down last week but this had no effect on the race for the worst buys.

  • Marketing duo defy market conditions to launch packager

    11 Apr 2008

    The two directors of finance marketing agency LUXMedia have joined forces to launch specialist packager White Label Money.

  • Me and my ipod - 07 April 2008

    7 Apr 2008

    My iPod features slow songs, swing classics, rock anthems and contemporary tunes. And because I'm a crooner who likes to do his own thing, My Way is a must, says Rob Roberts

  • Media Frenzy

    7 Apr 2008

    Last week went by in a media frenzy as the headlines were dominated bymortgage related stories. To be honest I enjoyed my trips to the BBC andthe visit by ITN as well as speaking to many of the national pressjournalistic elite.

  • Met had to get involved because of lenders' apathy

    7 Apr 2008

    The fact that the Met is to appoint 50 investigators to focus on mortgage fraud reflects the industry's failure to keep its own house in order.

  • M-Next unveils self-cert deal

    7 Apr 2008

    Mortgage Next Packaging has launched a prime self-cert range via Kensington Mortgages, available up to 90% LTV. Two-year fixed rates are available at 7.25%, three-year fixed rates at 7.15% and two-year trackers at 7.24% or 1.99% above the base rate. The deals have a fee of £1,999.

  • Mortgage 2000 adds product watch to sourcing system

    9 Apr 2008

    Mortgage 2000 has added a product watch facility to its mortgage sourcing system to help ease the problems encountered by brokers as lenders withdraw products at short notice.

  • Mortgage advice is a specialised case

    7 Apr 2008

    The Thoresen review of generic financial advice was published last month and recommended the establishment of a national money guidance service. It was accompanied by the Treasury's announcement of a £12m pathfinder programme to help facilitate the next stage of Aegon UK chief executive Otto Thoresen's findings.

  • Mortgage Next Packaging partners with Evaluate

    9 Apr 2008

    Mortgage Next Packaging has partnered with Evaluate Technologies to enhance its online decision in principle and application service to guarantee a faster, more accurate and detailed response to broker enquiries.

  • Mortgage Times adds Key Retirement Solutions to panel

    7 Apr 2008

    Mortgage Times has added Key Retirement Solutions to its lifetime mortgage panel.

  • MPC cuts interest rate to 5%

    10 Apr 2008

    The Monetary Policy Committee has slashed Bank of England base rate to 5% today.

  • MPs warn Treasury of underestimating risks to economy

    7 Apr 2008

    The Treasury Committee has warned the Treasury it may be underestimating risks that the liquidity crisis poses to the UK economy.

  • Mutuals see savings boom

    7 Apr 2008

    Building societies recorded a whopping £1.35bn in savings business in February - the largest inflow the sector has seen for 11 years.

  • Nationwide pulls fixed deals

    11 Apr 2008

    Nationwide has withdrawn various fixed deals and raised rates on others by up to 0.32%.

  • Network Data vows to grow

    7 Apr 2008

    Network Data Group has pledged to grow its business and play a central role in any future consolidation among mortgage networks.

  • Newcastle predicts growth in outsourcing

    9 Apr 2008

    Newcastle says the unpredictable mortgage market will lead more financial services firms to outsource this year.

  • Nick Baxter

    8 Apr 2008

    Reducing numbers of products an opportunity

  • Nik Priestley to head up sourcing at Mortgage 2000

    7 Apr 2008

    Nik Priestley has been appointed head of IT sales & development at Mortgage 2000.

  • NR processors may face axe

    7 Apr 2008

    Northern Rock staff processing further advances and remortgages could become victims of the bank's redundancy programme, the bank's former finance director claims.

  • One in four chance of global recession

    10 Apr 2008

    There is now a one in four chance of a global recession, the International Monetary Fund has warned.

  • Opal Home Loans teams up with Commercial 1

    10 Apr 2008

    Opal Home Loans, the Essex-based mortgage packager, has appointed Commercial 1 in a move that makes the specialist Bromley-based brokerage its preferred partner for all secured loans, bridging and commercial finance.

  • Opus closes its Glasgow-based operation

    8 Apr 2008

    Opus Mortgages has blamed the ongoing liquidity crisis and market downturn for the closure of its Glasgow-based operation today.

  • Overhaul banking system, says BoE

    7 Apr 2008

    The Bank of England is calling for an overhaul of the banking system in light of the liquidity crisis.

  • Packager offers help after TMO closure

    10 Apr 2008

    KGB Packaging has offered a lifeline to brokers who have pipeline cases with The Mortgage Operation, which is set to go into administration.

  • Paragon staff down by 30%

    7 Apr 2008

    Paragon Group last week confirmed that it has reduced its staff by a third.

  • Payment shock clients get advice

    7 Apr 2008

    The 1.4 million borrowers likely to face higher mortgage costs this year as a result of payment shock will be offered advice by the Money Advice Trust and the Council of Mortgage Lenders. Supported by the House of Commons, MAT has been working with the CML to publish advice for clients expected to be affected by sharp increases in their mortgage repayments.

  • Personal loans increase may fuel reposession rise

    7 Apr 2008

    A rise in unsecured personal borrowing may result in a repossessions increase this year, warns solicitor firm Moore Blatch.

  • Pink offers proc fee bonus

    7 Apr 2008

    Pink Home Loans is offering brokers the chance to earn bonus proc fees. Brokers who use Pink's online sub-prime decision in principle facility before April 25 and then submit their cases to its packaging team will receive an extra 100 when deals complete.

  • PMS Q1 completions down 20%

    7 Apr 2008

    Mortgage Strategy can today unveil the full extent of the credit crunch with news that completions at Premier Mortgage Service plun-ged 20% in Q1 compared with the same period last year.

  • PTP extends lifeline to TMO-affected brokers

    10 Apr 2008

    Personal Touch Packaging has held out a lifeline to brokers affected by The Mortgage Operation being placed into administration.

  • RBS system delays messed up a straightforward case

    7 Apr 2008

    I sympathise with Dan McGeehan in his letter about First Active (Mortgage Strategy March 24) although my recent beef is with the Royal Bank of Scotland on a straightforward purchase case.

  • Repossession fears grow

    7 Apr 2008

    Nearly 60,000 homes in the UK are at risk of repossession, government figures reveal. Data from the Housing statistics 2007 report, published last week by the Department for Communities and Local Government, show that almost 60,000 families with monthly disposable incomes below £1,000 are shelling out a staggering £750 a month on mortgage repayments. Julia Goldsworthy, shadow DCLG secretary for the Liberal Democrats, says: "There are 60,000 families who are teetering on the edge of ...

  • Sales advice online

    7 Apr 2008

    Senior advisers at Thinc Group are giving masterclasses on sales techniques on the IFA network's online show ThincTV.Thinc says the objective is to help its appointed representatives capitalise on the skills of its most successful advisers.Group director of mortgages Alex Murray says: "These classes will help our ARs make the best of current market conditions."The network says it completed some £4bn of business in 2007 and is on track to do the same this year.

  • Santander to buy RBS European arm

    7 Apr 2008

    Santander has agreed to buy the Royal Bank of Scotland's European consumer lending business, which provides credit cards and loans directly to borrowers in Germany, the Netherlands, Belgium and Austria.

  • School of Sales will bring in fresh blood

    7 Apr 2008

    In football a good manager must strike a balance between having experienced hands guiding the team and bringing in new players to add an extra dimension. They also need trainees willing to learn the ropes to ensure the team remains strong in the future.

  • Shadow Mpc

    7 Apr 2008

    A conviction that the risk of a serious economic slowdown outweighs that of an inflationary spiral leads the Mortgage Strategy GE Money Home Lending Shadow Monetary Policy Committee to call for another 0.25% cut in the base rate this month

  • Six in the City - 07 April 2008

    7 Apr 2008

    Less cash not a PC stance is likely to cut the industry's use of strip clubs, says Marcel Le Gouais

  • Skipton appoints head of PR

    9 Apr 2008

    Skipton has appointed Jason Clarke as head of public relations.

  • Skipton sets £799 fee for SVR deals

    7 Apr 2008

    Skipton has introduced a £799 fee for its SVR mortgages. The lender says this can be added to mortgage accounts on completion.

  • Spreadfair launches house price confidence index

    10 Apr 2008

    Cantor Spreadfair is now taking bets on consumer confidence over the movement of average UK and London house prices.

  • Stamp Duty relief slammed by MPs

    7 Apr 2008

    The government is under fire from a parliamentary committee for failing to extend Stamp Duty relief for zero-carbon properties to existing homes.

  • Steady as she goes for AR numbers

    7 Apr 2008

    There has been little change in the total number of ARs in mortgage networks so far this year, although a couple of players have ambitious expansion plans, says Richard Griffiths

  • Stock Picker

    7 Apr 2008

    Financial shares enjoyed another good week as confidence slowly returned to the market.

  • Sub-prime community hits back at IFA

    11 Apr 2008

    Packagers and brokers have retaliated against comments made by an IFA who attacked lenders in the sub-prime market and claimed those that earn higher fees from those in bad debts could be seen as immoral.

  • Taskforce to help reopen securities market

    9 Apr 2008

    Alistair Darling has revealed plans to set up a taskforce to help reopen the UK mortgage-backed securities market.

  • The satellite packager debate

    11 Apr 2008

    The packager market is split at the moment as to whether satellite packagers can offer the industry any value. So, we've got two industry figures to fight out their corner.

  • The Skipton Group buys Scottish IFA

    9 Apr 2008

    The Skipton Building Society Group has acquired a 75% shareholding in Thomson Shepherd, the Scottish based IFA (which trades as Coggans Wood in Edinburgh).

  • Tide of repossessions allowed to rise

    7 Apr 2008

    If ever there was a time that consumers needed protection from bullying lenders eager to evict them, it is now. And if there was a time those struggling with repayments needed to be treated with dignity, it is now. But it seems lenders have been given a window to ensure the worrying trend of repossessions continues.

  • TMA registers 7,000th broker

    7 Apr 2008

    The Mortgage Alliance has revealed the registration of the 7,000th broker to its mortgage club.

  • TMA tops 7,000 members

    7 Apr 2008

    The Mortgage Alliance has registered 7,000 members to its mortgage club.

  • TMW pulls entire range

    11 Apr 2008

    The Mortgage Works has pulled its entire product line from 5pm today.

  • Touching

    7 Apr 2008

    Deputy production editor Rob Parr walked on the wild side last week after associate editor Clare Bettelley’s leaving do.

  • Trackers prove popular as fixed rate take-up plunges

    8 Apr 2008

    Tracker mortgages were popular during February while the take-up of fixed rates plunged to its lowest level since March 2005, says the Council of Mortgage Lenders.

  • Treasury to hold talks over global action plan

    7 Apr 2008

    The chancellor will meet international finance ministers this weekend in a bid to launch a global action plan to help the credit markets.

  • UK borrowers think long-term

    7 Apr 2008

    A financial services website says that more than a third of UK borrowers would opt for 25-year fixed rate mortgages. A poll by FairInvestment.co.uk shows 37% would opt for 25-year fixed rate mortgages and a further 28% would choose medium-term fixed rates.

  • UNIFi opens portal to lender partners

    10 Apr 2008

    UNIFi Partners has thrown open the doors of its unsecured web portal to its lender partners.

  • UNIFi upgrades its loans portal

    7 Apr 2008

    UNIFi Partners has upgraded its secured loans portal following revisions to the Consumer Credit Act.

  • US auction over subscribed by $41bn

    8 Apr 2008

    Yesterday's US Federal Reserve short-term auction received over $91bn worth of bids by 76 institutions.

  • Washington Mutual to get $5bn capital injection

    9 Apr 2008

    Americas largest building society, Washington Mutual, is set to be bailed out with a much needed $5bn (2.51bn) capital injection from a consortium led by TPG, the US buyout firm, to address concerns over its balance sheet.

  • We must strive to keep brokers afloat

    7 Apr 2008

    Over the past few weeks the mortgage market has been contracting on what feels like a daily basis. Deals are disappearing at a rate of knots and there are fewer lenders lending.

  • We must support the police and kick out fraudsters

    7 Apr 2008

    The recent announcement that the Metropolitan Police is to appoint 50 specialists to focus on mortgage fraud is a poor reflection on the state of our industry.

  • Weighing up the benefits of grants

    7 Apr 2008

    Continuing my theme of grants from last week, I'd like to remind readers of the Financial Services Authority's requirements when considering the suitability of equity release transactions.

  • What could the government do to restore public confidence in banks?

    7 Apr 2008

    Last week the Confederation of British Industry warned that mistrust between banks is now worse than it was last autumn. The warning comes amid continuing turmoil in the banking sector and government preparations to unveil changes to the supervision of banks' liquidity.

  • Working life is frustrating for brokers

    7 Apr 2008

    The FSA's decision to add another layer of red tape to the regulatory system is a symptom of why much of the joy has gone out of working in the financial services industry, says Sue Read

  • Yorkshire named best value lender of Q1 2008

    7 Apr 2008

    The Yorkshire was the most competitive mortgage lender in Q1 2008, according to Mform.co.uk.

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