Mortgage Strategy
7 February 2005

  • 100 days under the FSA regime

    7 Feb 2005

    The industry is just 100 days into regulation but has the dust started to settle?Mortgage Strategy asked a panal of experts some searching questions to get to the heart of the matter. Rachel Bancroft, Nataalie Martin and Barney McCarthy sift through the findings.

  • 41% of investors still believe in residential property

    8 Feb 2005

    A survey by Invesco Perpetual shows 41% of investors still believe that residential property will yield the best investment returns this year.

  • A view from the floor

    7 Feb 2005

    John Goodfellow, chief executive of Skipton, says his society is supporting a housing initiative intended to preserve working communities in the Yorkshire Dales

  • Abbey to sponsor all house and home TV programmes on Five

    10 Feb 2005

    Abbey has secured a contract allowing it to sponsor all of Five's house and home TV programmes throughout 2005.

  • Accord to pay intermediaries proc fee for retaining existing borrowers

    7 Feb 2005

    Accord Mortgages says it will pay procuration fees to intermediaries who advise clients to stay with them when they come to the end of their special deal period.

  • AMI, AIFA, PFS, CII - Acronyms R Us

    7 Feb 2005

    Though the subtlety of the lonely hearts ad and the jargon of the macro-economist might elude us, we should at least understand the acronyms in our own industry, says Richard Griffiths

  • Bank of England freezes interest rate

    10 Feb 2005

    The Bank of England Monetary Policy Committee has held the base rate at 4.75%.

  • Base rate fall still expected by mid-year, says Charcol

    11 Feb 2005

    Charcol says the MPC's decision to freeze the base rate was expected.

  • Bdm's question time

    7 Feb 2005

    A newly appointed business development manager at Zebra Homeloans went head to head with Anne Robinson on the Weakest Link last week.Tracy Kavanagh managed to reach the final but was then beaten. Asked by Robinson how much she'd charge her for a mortgage, Kavanagh replied: "As much as I could get away with."At Zebra, Kavanagh is in charge of web-based enquiries and case tracking for brokers in the North.

  • BDS adds Accord and Coventry to panel

    10 Feb 2005

    BDS Mortgage Group has added Accord Mortgages and Coventry to its lender panel.BDS currently has over 55 lenders on its panel and offers over 150 exclusive and semi-exclusive products in addition to standard ranges.

  • BDS expands lender onsite underwriting team

    11 Feb 2005

    BDS Mortgage Group is set to expand its team of on-site underwriters as both Kensington Mortgages and Preferred come on board.

  • BDS Mortgage Group appoints group product manager

    10 Feb 2005

    BDS Mortgage Group, the South-Coast based mortgage packager and distributor, has appointed Julie Sides to group product manager.The role has been created to enable BDS to develop its product strategy further, extending and refining the exclusive range on offer.

  • Bereaved ifa starts tsunami fund

    7 Feb 2005

    Nigel Willgrass, the Norwich-based IFA who lost his wife Louise in the tsunami disaster, has started a fund in her name to help build a school in Thailand.His wife was swept away by the flood in Phuket while he and his children looked on helplessly. To honour her memory, Willgrass is hoping to raise 500,000 to build a school in the area. He says: "I am determined to get this school up and running. We need funds to turn Louise's death into something positive."Donations should ...

  • Blue sky

    7 Feb 2005

    In an age of abundance, companies have to work hard to get noticed. They are on constant tip-toe at the back of the frame trying to squeeze in.

  • BM Solutions poaches GMAC-RFC credit risk man

    7 Feb 2005

    Rob McQuade has joined BM Solutions as director of credit risk management.

  • Bms launches premier unit to enhance service

    7 Feb 2005

    BM Solutions has launched a Premier Unit at its Cardiff-based processing centre, designed to provide a higher level of service to its key accounts.The pilot scheme has been launched exclusively with its five key London accounts - Savills Private Finance, Hamptons International Mortgages, Square Mile Mortgage Finance, Alexander Hall and Chase De Vere.SPF director Simon Jones says: "BM Solutions' usual good service to Savills has been enhanced by its commitment in setting up a ...

  • Bolton outlines plans for growth in 2005

    7 Feb 2005

    Michael Bolton is in an upbeat mood as he arrives for our meeting at the RAC club on London's Pall Mall. It's the first time I've seen him since before Christmas and the conversation immediately turns to business now he's been promoted to managing director of BM Solutions and Halifax Intermediary.My immediate thought is whether or not I'll still be able to package for him. I've been on the BM panel since the start but after his recent comments regarding packagers I'm concerned Bolton ...

  • Broker claims bms cross-sold insurance to his clients

    7 Feb 2005

    A broker has hit out at BM Solutions for cross-selling insurance to his clients without his permission.Andrew Bartlett, principal of AB Financial Services, says he was outraged to discover BMS was offering his mortgage clients general insurance products through Legal & General.When Bartlett rang BMS to complain he was told by the lender the reason for this was that "advisers may not be covering all areas of insurance".Bartlett says: "I told the BDM this is an excuse to sell ...

  • Broker hits out at Halifax KFI error

    11 Feb 2005

    Further evidence has emerged that there is still Key Facts Illustration chaos in the market, despite the industry now being over 100 days into statutory regulation.

  • Broker wins swanky shoes from Chelsea

    8 Feb 2005

    Chelsea has given a pair of handmade shoes to Bob Shipman of Redbrooke Mortgage Management, near Newcastle Upon Tyne, who won its prize draw competition at last years Mortgage Expo in Earls Court.

  • Brokers predict springtime buy-to-let surge

    7 Feb 2005

    Mortgage Trusts monthly buy-to-let Intermediary forecast shows that buy-to-let intermediaries believe that the spring will bring an upturn in business volumes.

  • Building futures at home and abroad with Shelter

    8 Feb 2005

    Shelter, the housing and homelessness charity, is launching an event to give people the chance to make a real difference to communities both at home and abroad.

  • Call for clarity on ad rules

    7 Feb 2005

    The Association of Mortgage Intermediaries says more clarification is still needed on the rules surrounding financial promotions.At the end of 2004 the Financial Services Authority indicated that advertising and marketing would be prime target areas to police over the coming months. But many firms are still confused about what is required of them.AMI director Chris Cummings says: "The FSA must give more information on financial promotions. The rules are complex and there has ...

  • Call for more action on financial education

    7 Feb 2005

    The Financial Services Authority was criticised at Mortgage Strategy's regulation round table last week for not educating society enough on financial matters.Tony Jones, managing director at Pink, says: "Much more must be done. Regulation is a lot about education, partly of brokers but also of consumers. Until we get a basic level of understanding we face an uphill battle."There was a call for the FSA to target children at school. It was thought this might help prevent future ...

  • Chelsea unveils 13% increase in assets

    10 Feb 2005

    Chelsea has revealed growth in its total assets during 2004 of 13% to 8.9bn.

  • Cii is scamming mortgage brokers on fees

    7 Feb 2005

    The word 'scam' has often been applied to the mortgage and financial services industry, but this should be about to change. The news last week that GMAC-RFC was blacklisting certain brokers will have the effect of cleaning up the industry and reducing the use of that word.

  • CML welcomes government support for home ownership

    11 Feb 2005

    The Council of Mortgage Lenders has welcomed the government's support for home ownership.

  • Connells and sequence merge corporate divisions

    7 Feb 2005

    Connells and Sequence have merged their two corporate business divisions to create what they say is the UK's largest asset manager. It will oversee the disposal of repossessed properties on behalf of major lenders.After Connells bought Sequence in October 2003, when both firms became part of the Skipton Group, it continued to run its operations in Blackpool and Leighton Buzzard separately. The decision was recently made though to combine the two businesses in one centre in Leighton ...

  • Currculum Vitae

    7 Feb 2005

    "My business partner got me a 'Flabagram' for my 30th birthday"

  • Dear delia

    7 Feb 2005

    Dear Delia Dave and Mandy have rented their council house in Suffolk for the past two years and now want to exercise their Right to Buy, plus raise some extra capital.

  • Do high buy-to-let ltvs benefit clients?

    7 Feb 2005

    GMAC-RFC last week launched a buy-to-let product at 89% LTV - the highest in the market. Some brokers believe lenders are entering a buy-to-let war which should be good for consumers as it will lead to better deals.GMAC-RFC's move raises the possibility that other lenders will follow its lead and improve their criteria. But should this be encouraged? And is there the possibility that it could lead to investors over-stretching themselves?So, Mortgage Strategy asks: Do higher LTVs ...

  • EC launches near-prime range

    8 Feb 2005

    Exclusive Connections has launched a range of near prime products.

  • Ensure you have an effective brand

    7 Feb 2005

    Even for the smallest mortgage brokerages, effective brand-building is important in a financial services sector that is becoming more crowded and competitive, says Richard Farr

  • Financial health matters

    7 Feb 2005

    This first article in a three-part series examines the changes proposed to the Consumer Credit Act 1974 to create a fairer and more competitive credit market.

  • Fsa launches credit self-assessment tool

    7 Feb 2005

    The Financial Services Authority is to launch a credit self-assessment tool to try to alert people about the dangers of debt. It is hoped the scheme will be in place by July or September this year.Robin Gordon-Walker, spokesman for the FSA, says: "The credit assessment will be available either through the FSA website or in paper format. People will be able to type in their income, what debts they have and other circumstances. It will then assess whether or not they are at risk of ...

  • Fsa urged not to push for new laws

    7 Feb 2005

    Lenders urged the Financial Services Authority not to bring in any rigid regulation on Treating Customers Fairly at Mortgage Strategy's round table last week.Tony Jones, managing director at Pink, says: "The next big initiative from the FSA will be on Treating Customers Fairly, which is a principles-based campaign. It will be interesting to see how long the FSA keeps it that way. The last thing we want is more rules. Nobody would argue with the principle of TCF but it's important ...

  • Greater London remains favourite for millionaire property seekers

    8 Feb 2005

    The latest figures from the Land Registry show Greater London remains the most popular centre for house-buying millionaires with 93 properties costing over 2m sold in the last quarter of 2004.

  • Homebuyer Show offers property investors a perfect match

    9 Feb 2005

    With Valentines Day rapidly approaching, the Homebuyer Show is offering potential property investors a hand in finding their perfect match.

  • Homebuyers are taking bigger bets on their properties

    8 Feb 2005

    Homebuyers are borrowing a larger proportion of their propertys value than they did just 12 months ago, says Moneyextra.

  • Ideas and predictions for the next phase of market change

    7 Feb 2005

    From Maurice EdgingtonI have a few ideas and predictions that may be of interest to readers:Ask the MCCB to return surplus fees to us so we can pass them on to the FSA.Someone on the consumer side will spot the length of the chain between the customer and mortgage lender in a vast number of mortgage applications. For example, a website lead generator to an intermediary who introduces to a broker that is an appointed representative of a network whose mortgages are placed via a packager ...

  • Interest rate decision shows slowdown is continuing, says B&B

    10 Feb 2005

    Bradford & Bingley says the Monetary Policy Committee's decision to hold interest rates was expected. Duncan Pownall, mortgage development manager for B&B, says: "It was widely expected that the MPC would hold base rate at 4.75% for the sixth consecutive month.

  • Internet Insight

    7 Feb 2005

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Jeff Sutherland-Kay checks out the websites of brokers, product providers, clubs, networks and packagers

  • Is it right to buy?

    9 Feb 2005

    The government recently unveiled its plans to give 400,000 more people the chance to own their own homes. Targeting those on lower incomes, as well as key workers, the package of measures included extending Right to Buy schemes to more tenants and a competition to build homes for a £60,000 price tag.

  • Its equity research Jim, but not as we know it

    9 Feb 2005

    During a recent industry conference one of the speakers suggested that in five years time no leading investment bank in London will be conducting basic equity research and that the number of analysts working in the City will be halved.

  • It's just the thing for smaller firms

    7 Feb 2005

    Mortgage Consultant Manager provides a much needed low-cost IT solution for smaller brokers and packagers as they battle to compete in a highly competitive market, says Frank Eve

  • January dip is good news for homebuyers

    7 Feb 2005

    New home prices in the UK fell slightly in January, starting the year 2.6% lower than the previous year and 1.5% lower than a month ago, shows data released today from SmartNewHomes.com.

  • Jsk misses the main point of mortgage brokers' websites

    7 Feb 2005

    From Peter ParsonsI agree with most of what Jeff Sutherland-Kay said when he reviewed my website (Mortgage Strategy January 24) but I think he may be missing the main point of websites - to attract mortgage or loan enquires.It's great having a website that does everything - and people's ideas of good design differ - but if nobody sees your site, what's the point in the first place?For example, look at the backward programming of our site. We have a PR5 on Google and key phrases ...

  • Kent Reliance appoints chairman

    11 Feb 2005

    Malcolm Mackenzie has been appointed chairman to the board of directors of Kent Reliance.

  • L&C launches two year fixed offset rate of 5.05%

    7 Feb 2005

    London & Country, the no-fee broker, has just launched an offset deal with a two year fixed rate of 5.05%.

  • Lending Solutions buys homefast property lawyers

    10 Feb 2005

    Lending Solutions has bought the majority shareholding of the conveyancing firm homefast property lawyers.

  • London residential market moves out of the doldrums

    11 Feb 2005

    Researchers at Savills are predicting 6% growth for the prime central London market over 2005, compared to 2% for mainstream markets over the same period.

  • Make sure your first impression is the right one

    7 Feb 2005

    Mark Witcomb is senior consultant at Venatus Business Intelligence

  • Market watch

    7 Feb 2005

    It was a dull week for swaps, inching up and down before closing at exactly the same levels they started.

  • Mortgage brain defends mte

    7 Feb 2005

    Mortgage Brain has refuted suggestions that the Mortgage Trading Exchange platform was not built on sound technology and that only smaller intermediaries will continue to use it.At a round table discussion on the topic of 100 days of Financial Services Authority mortgage regulation hosted by Mortgage Strategy last week, brokers claimed many of the larger intermediary firms have developed their own systems as they believe sourcing systems and the MTE are not up to speed.Simon ...

  • Mortgage clinic to generate leads

    7 Feb 2005

    Llewellyn-Slade PR is launching a scheme called Mortgage Clinic which will run campaigns in the national media to help lenders and intermediaries generate leads.LSPR says Mortgage Clinic offers advertorial and online opportunities for mortgage lenders and intermediaries to generate new business leads, raise their profiles and enhance their reputations via the national press.It has teamed up with The Sun, News of the World and Mail on Sunday to guarantee participants packages ...

  • Mortgage Express launches Limited Company buy-to-let deals

    8 Feb 2005

    Mortgage Express, the specialist buy-to-let lender, has launched three Limited Company buy-to-let deals.

  • Nick's notes

    7 Feb 2005

    In my first column I mentioned the 27bn savings gap in this country.

  • Northern Rock simplifies product range

    9 Feb 2005

    Northern Rock has made a number of changes to its mortgage product range.

  • Oft refuses to grant ccl to thug broker

    7 Feb 2005

    A violent thug has been banned from holding a consumer credit licence after the Office of Fair Trading found he had form.Hitchen-based mortgage broker Richard Hardy had his application for a CCL refused after the OFT got wind of his unlawful past.The OFT discovered Hardy had been convicted of violent disorder - something the government body felt made him unfit to hold the licence.Hardy's case went to adjudication but the OFT says it was decided that he was not fit to hold ...

  • Online case tracking system designed to help brokers

    8 Feb 2005

    Michael Goldman, the ex-managing director of APS Europe Mortgage Club, has launched an online case tracking system, that allows the mortgage applicant to monitor the progress of the mortgage 24 hours a day.

  • Opening goal scorer

    7 Feb 2005

    Legendary ex-Wolverhampton Wanderers player Steve Bull was on hand to open the latest branch of Secure Mortgages, last week.Bull, who scored 306 goals for the Molineux outfit, met dozens of fans and signed autographs as the company celebrated the opening of its Queens Square branch in Wolverhampton city centre.Secure Mortgages' managing director David Burns says: "It was great to have a Black Country football legend kick-off the new office."

  • Optoma reveals increase in use of AIP facility

    11 Feb 2005

    Optoma Broker Solutions has revealed an increase in the use of its online sub-prime AIP facility which provides brokers with adverse credit solutions.

  • Optoma to announce ni franchise operation soon

    7 Feb 2005

    Optoma is to reveal its second franchise over the next few weeks, an operation based in Northern Ireland.Its first franchise was launched in October last year in Nottinghamshire and had written 135,000 business by the end of last month, with the average case being worth 600.The directors of the Newark-based franchise, Simon Janisch and Helen Lord, had previously run another packager business but decided to sign up to Optoma last year.Janisch says: "It has worked really well ...

  • Opus enhances new Mortgages Plc range

    8 Feb 2005

    Opus, the Glasgow based loan administration company is enhancing its new Mortgages Plc range, which will be tied to Bank base rate.

  • Our sector can boost its profile

    7 Feb 2005

    Paul Griffin, managing director of Smart Move, says the mortgage sector must use its imagination to move up to the next level in terms of consumer awareness and perception.

  • Packagers still play a key role

    7 Feb 2005

    Hardly a day goes by that packaging and packagers don't find themselves under fire and now some pundits are beginning to question their usefulness in the process of selling mortgages altogether.

  • Pink adds A&L to lender panel

    10 Feb 2005

    Pink Home Loans has added Alliance & Leicester to its lender panel.

  • Platform decision shows quality packagers will thrive

    7 Feb 2005

    From John RicePlatform's decision to pay more to packagers who submit quality business is welcomed by RAMP's 11 members (Mortgage Strategy, January 31).Such an initiative rewards the hard work we at RAMP have put in to raise standards in the packaging sector via our Code of Conduct (an industry first), full-time compliance function (another industry first for a packager alliance), and authorisation of all our members.It is worth noting that the packagers with the highest standards ...

  • Platform denies plan to cut out packagers

    7 Feb 2005

    Platform has denied rumours it is to launch a 100% online processing system that would exclude packagers.There have been industry rumours that the Britannia intermediary subsidiary lender is planning to deal directly with brokers and remove packagers from its distribution.With Platform having such a large packager distribution base, there was concern the move could lead to further pressure on the packager market.One source, who asked not to be named, tells Mortgage Strategy: ...

  • Platform unveils major product launch

    11 Feb 2005

    Platform has unveiled the biggest range of enhancements to its product range since launching in February 2003.

  • Politicians must look at the facts

    7 Feb 2005

    As the Budget approaches, increasingly heated political comment regarding the mortgage market should be informed by robust research such as the CML's annual review, says Rachel Blackmore

  • Portman on acquisition trail

    7 Feb 2005

    The Portman Group says it is on the lookout for acquisitions after making record profits of 78.1m in 2004.Although Portman is ranked as the fourth largest UK building society, it is confident it will overtake Yorkshire when its 2004 results are published to move up to third position.Portman saw record mortgage lending of 3.6bn, up 24% on 2003, with growth in total assets of 15.5bn. This was on the back of the successful rebranding of Sun Bank to The Mortgage Works and the merger ...

  • Praise for GMAC-RFC higher LTV buy-to-let mortgages

    7 Feb 2005

    Lee Grandin, managing director at Landlord Mortgages, says GMAC-RFCs advance of 89% on buy-to-let loans will renew confidence in the market.

  • Praxis receives praise for service quality

    10 Feb 2005

    Praxis has been praised for its commitment to service quality by independent auditors undertaking a detailed assessment under its ISO 9001:2000 registration. Praxis is one of the only companies in the mortgage sector to be registered against ISO 9001:2000, the internationally recognised quality standard, for its business processes and procedures. Richard Stettner, managing director of Praxis, says: Praxis prides itself on the quality of its packaging service and so our ...

  • Prescott says labour is the pro-ftb party

    7 Feb 2005

    Deputy prime minister John Prescott claims only Labour will offer more people the opportunity to get onto the housing ladder and warns Tory cuts would mean fewer affordable homes.Speaking at the Sustainable Communities Summit last week, Prescott told delegates: "Labour is investing in homes for all - helping first-time buyers, key workers and making sure social tenants get more choice and decent homes."As part of its five-year plan, the ODPM plans to use publicly-owned land ...

  • Pre-screening saves time and disappointment

    7 Feb 2005

    Colin Lloyd is head of operations at Reed InsuranceNot too long ago the mortgage industry was bound together by a frail but shared understanding of best business practice.

  • Principality assets reach 4bn milestone

    10 Feb 2005

    Principality has posted its results for the 2004 financial year which show that its total assets increased by 473.3m to 4bn.

  • Proactive fsa supervision will weed out the charlatans and pretenders

    7 Feb 2005

    Along with other directly authorised firms and networks, Network Data has now been informed by the FSA of supervisory arrangements, requests for action and the name of our relationship supervisor.

  • Proc fees are too low, not too high

    7 Feb 2005

    Mortgage intermediaries are doing more work than ever for less reward than usual and yet they are still expected to accept lenders' justifications for proc fee reductions, says Ben Stafford

  • RAMP throws out County

    9 Feb 2005

    C2 Financial, formerly County Mortgage Services, has been sensationally thrown out of the Regulatory Alliance of Mortgage Packagers an organisation which C2 managing director David Wylie helped to found.

  • RBS could axe high street branches

    11 Feb 2005

    Royal Bank of Scotland could dispose of up to 600 properties, including RBS and NatWest branches, worth around 110m.

  • Record business for ship members

    7 Feb 2005

    The 17 members of equity release trade body Safe Home Income Plans have reported record quarterly new business figures for the three months to December 31 2004.The trade body, whose members represent over 90% of the equity release sector, says the value of business written in quarter four was 350.2m. Q4's new business written was also 25% higher than Q4 2003.Total new business written by SHIP members in 2004 was 1.2bn, 2.7% higher than in 2003. On an annualised basis, new equity ...

  • Record year for Britannia as lending tops 6bn

    9 Feb 2005

    Britannia has unveiled lending figures of 6.3bn, record operating profit and revealed that 60m worth of customer service systems upgrades has been completed.

  • Ricky Okey to lead Abbeys intermediary mortgage and protection sales team

    7 Feb 2005

    Ricky Okey, former managing director at Charcol, has joined Abbey for Intermediaries in the newly created position of director, mortgages and protection.

  • SPF launches buy-to-let tracker

    9 Feb 2005

    Savills Private Finance has launched a buy-to-let base rate tracker, with an initial pay rate of 5.59% and no early repayment charges.

  • Spml moves to larger offices

    7 Feb 2005

    Southern Pacific Mortgage Limited is to move to the City of London headquarters of its owner, Lehman Brothers, where there will be space for its planned expansion.SPML, a top 20 lender, employs over 400 staff and in 2003/04 achieved a record 2.3bn completions. It will relocate to Broadgate from two offices in London's High Street Kensington.John Prust, sales and marketing director, says: "This move will be a significant milestone for SPML. As an innovative lender, we have some ...

  • Stamp duty reform would woo voters

    7 Feb 2005

    Thousands of readers of Mortgage Strategy have now signed our petition to try and force chancellor Gordon Brown to get it SUSD and Step Up Stamp Duty.As the forthcoming General Election draws closer all political parties should see this important issue as a vote-winner. Mortgage Stratgey has received a tremendous response to the campaign, and we're sure all those who support reform will vote.Send the coupon below to: Mortgage Strategy, 50 Poland St, London W1F 7AX. Or visit ...

  • Stay on the right side of the fsa and you'll have no trouble

    7 Feb 2005

    From James RodeaWhen I arrived at work on January 3 my first job was to open the post. We had only one letter. It was from the FSA letting me know that Cluttons Private Finance was to receive its first visit. My initial thought was one of dread but after a quick look at the company and its practices I thought we were in good shape. The files were good and the relevant manuals were up-to-date and accurate. Even so, I couldn't help being a little apprehensive on the morning my visitors ...

  • Student rental deposit scheme is launched

    7 Feb 2005

    A scheme has been launched to persuade university students to protect their rental deposits and thus avoid contractual disputes.The Tenancy Deposit Scheme has joined with the National Union of Students to convey the message that losing deposits through the unreasonable behaviour of letting agents or landlords should be a thing of the past.All three professional organisations whose agent members are active in the rental market - the Association of Residential Letting Agents, ...

  • Tell lenders what you think of them

    7 Feb 2005

    From today, you have the chance to participate in a major survey of the buy-to-let market being conducted by Mortgage Strategy in conjunction with UCB Homeloans.Log onto www.mortgagestrategy.co.uk and click on the UCB Homeloans' survey box on the right-hand side of the homepage for the chance to share your views and have your say on the future of buy-to-let.If you enter by 5pm on February 14, the first 10 names drawn will each win a bottle of champagne courtesy of UCB Homeloans.The ...

  • The Money Centre to run free propery investor seminars

    11 Feb 2005

    The Money Centre is running a series of free property investor seminars across the country.

  • The Mortgage Mole

    7 Feb 2005

    Digging the dirt in the mortgage world

  • Tmo shuts down network

    7 Feb 2005

    The Mortgage Operation has closed down its network to focus on packaging, and predicts other networks will be forced to close their doors too.TMO managing director Mark Charlesworth claims he never had any aspirations to set up a network in the first place but did so to offer members a comprehensive range of options in the build-up to statutory regulation.He says: "When regulation was first discussed there was much debate about whether people would choose to be directly authorised ...

  • TMTC appoints sales manager

    9 Feb 2005

    The Mortgage Trading Company has appointed a sales manager and expanded its mortgage processing team.

  • Valentine's day launch for platform products

    7 Feb 2005

    Platform is to launch a range of products on Valentine's Day - February 14.No details are available at the moment but Platform says the range will see it drop its margins and introduce cashbacks, while keeping proc fees at the same level.Guy Batchelor, sales and marketing director at Platform, says: "We held back until all our benchmark competitors came out with their new ranges in order to ensure pricing was spot on and competitive for this launch."These changes will be ...

  • Vesta launches new website

    8 Feb 2005

    Vesta Packaging says it has launched one of the most sophisticated packager websites yet. The website went live today and in the coming months will allow brokers to source accurately-produced KFIs for Vestas prime and sub-prime lenders, products, view the progress of cases and obtain details of outstanding application items. Other features include a mortgage calculator, details of exclusive offers and access to Vestas packaging plus service, an introduction-only service ...

  • When cold calling is just not cool

    7 Feb 2005

    Brokers remain confused about how they can deal with customers for whom they have previously arranged a mortgage without breaking the FSA's cold calling rules, says Neal Smith

  • World of sport win a trip to the us masters

    7 Feb 2005

    You can win fantastic sporting trips every month in a superb promotion being run by First Active.

  • Would it be better for clients if scarborough offered lower rates rather than a tv?

    7 Feb 2005

    Here, two industry experts debate the merits of Scarborough's incentive offer of a Sony TV with its plasma tracker mortgage

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