Mortgage Strategy
7 January 2008

  • 2008 Happier New Year

    7 Jan 2008

    Last year started well and ended badly for the mortgage industry, but there are eight reasons to be cheerful in 2008, including more remortgage work, faster processing thanks to technology and a falling base rate, says Christine Toner

  • 2008 year of red tape, say advisers

    10 Jan 2008

    A whopping 86% of financial advisers are concerned about red tape, with the majority expecting an increase in regulatory pressure in 2008, says Sesame.

  • 38 redundancies at DB Mortgages

    11 Jan 2008

    Outsourcing firm Vertex has revealed that some 38 staff have been made redundant through its DB Mortgages account.

  • 42% of house buyers face Stamp Duty blight

    7 Jan 2008

    Stroud & Swindon has revealed that 42% of prospective house buyers have no idea how they will raise Stamp Duty Land Tax.

  • 90% of landlords remain confident, says ARLA

    7 Jan 2008

    Nine out of 10 buy-to-let landlords intend to keep their properties until 2025, says the Association of Rental and Letting Agents.

  • A good time to consider offset deals

    7 Jan 2008

    Is January a depressing month for you after the Christmas break or do you take a positive attitude towards the challenges and opportunities the new year brings? No matter how you look at it, most of us aim to change our lifestyles as soon as Big Ben chimes.

  • A will is a way to provide better service

    7 Jan 2008

    I was amused to read a letter in Mortgage Strategy recently in which a reader wondered if my change of job might mean no more rants about Home Information Packs.

  • Adding interest

    7 Jan 2008

    Last week, Mole saw a strange selection of ad-verts by US sub-prime len-der Ameriquest on YouTube.

  • Advantage invests in imaging technology

    7 Jan 2008

    Advantage has gone live with new imaging technology to ensure greater security and speed up the mortgage application process. The lender says the new imaging technology will increase speed of applications by providing underwriters with instant access to all application history, enabling them to search and view documents within seconds. The technology will also provide high quality files for securitisation and data security processes. Tracy Stokes, director of originations ...

  • Advantage launches application technology

    7 Jan 2008

    Advantage has unveiled new imaging technology designed to speed up the mortgage application process.

  • Alexander Hall adopts The Key

    9 Jan 2008

    Alexander Hall has adopted Mortgage Brain’s sales and compliance software, The Key.

  • All change for secured loans in 2008

    7 Jan 2008

    A new dawn beckons in 2008 for those in the secured loans market. It will be all change come April, when alterations to the Consumer Credit Act mean all loans - not just those under £25,000 - will come under the watchful eye of the Office of Fair Trading.

  • AMI responds to call for information sharing

    7 Jan 2008

    The Association of Mortgage Intermediaries is jumping on Mortgage Strategy's In The Loop bandwagon with plans to launch guidance for lenders and brokers on information sharing.

  • AMI warns on RDR fallout

    7 Jan 2008

    The Association of Mortgage Intermediaries has warned that the unintended consequences of the Retail Distribution Review risk stifling innovation in the mortgage market. The warning forms part of AMI's response to the Financial Services Authority's RDR discussion paper.

  • An action-packed time for regulation

    7 Jan 2008

    Some brokers don't realise that the regulatory regime is far bigger than it first appears. Like an iceberg, that which lurks beneath the surface is significant.

  • An A-Z guide to 2008

    7 Jan 2008

    Lexicon Group director Kevin Duffy dispenses his annual bouquets and brickbats to those in the mortgage industry and the wider world and takes a slapstick look into his crystal ball for 2008

  • Are automated valuation models the future of the uk housing market?

    7 Jan 2008

    Our experts are split, with one saying AVMs are unreliable for residential cases and the other asserting they could lead to quick, unconditional offers

  • Are you concerned about the economic outlook for the year ahead?

    7 Jan 2008

    THE effects of the liquidity crisis continue to be felt in the new year, with house price predictions looking increasingly gloomy. Economists are divided over whether prices will stagnate or fall over the next 12 months, although there is a consensus that repossessions will rise. So, this week Mortgage Strategy asks...

  • Assetz launches group property share scheme

    8 Jan 2008

    Assetz has launched a property share scheme to allow a maximum of four people to share a stake in a holiday home.

  • At last, no more passing the buck

    7 Jan 2008

    Chancellor Alistair Darling's announcement last week that he will institute a new insolvency code to give sweeping powers to the Financial Services Authority was greeted with derision from rival political parties.Liberal Democrat shadow chancellor Vince Cable described the new code as a loud "slamming of the stable doors after the horse has bolted".

  • Average mortgage interest 6% in November

    7 Jan 2008

    The average interest rate for a new borrower jumped from 5.94 % in September to 6.02% in November despite no change to the Bank of England base rate.

  • Bank of America to buy Countrywide

    11 Jan 2008

    Bank of America has confirmed it will buy beleaguered US lender Countrywide.

  • Bank told to increase reserves

    7 Jan 2008

    London Scottish Bank has been advised by the Financial Services Authority to increase its cash reserves under Basle II, the European banking credit risk framework.

  • Banking code change means lenders must help borrowers manage their debt

    8 Jan 2008

    Lenders will have to warn mortgage borrowers they are in danger of getting into financial difficulties under new rules being introduced by the British Banker’s Association in March.

  • Barclays Capital co-president resigns

    9 Jan 2008

    Sub-prime losses have claimed yet another corporate boss today.

  • Barclays launches direct to consumer secured lender

    7 Jan 2008

    Barclays has launched Fair & Square as a new secured lender for consumers.

  • Barton Gold joins Paradigm

    7 Jan 2008

    Barton Gold, a London-based broker club, has joined Paradigm Mortgage Services.

  • Bath launches financial advice firm

    7 Jan 2008

    Bath has launched a company with Bath-based firm City Financial Planning to provide independent financial advice.

  • Be careful cutting interest rates, warns World Bank

    9 Jan 2008

    The World Bank has warned that interest rate cuts could further compromise the stability of financial markets.

  • Bear Stearns CEO steps down after 15 years

    8 Jan 2008

    James Cayne, chief executive of investment firm Bear Stearns, has stepped down after 15 years.

  • Bear Stearns chief to step down

    8 Jan 2008

    James Cayne, the chairman and chief executive of Bear Stearns, appears to be getting ready to bow to pressure to resign almost six months after the bank submitted huge losses as a result of the US sub-prime collapse.

  • Blair takes job as JPMorgan adviser

    10 Jan 2008

    The former Prime Minister Tony Blair has taken up a role as part-time adviser to US bank JPMorgan.Blair stepped down as Prime Minister last year and in his new role he is understood to be providing political and strategic advice to the bank.The Financial Times quotes an unnamed New York recruitment consultant who estimates Blair’s new salary to be over £500,000 per year.

  • BM Solutions cuts proc fees on deals

    7 Jan 2008

    BM Solutions has cut the proc fees on its self-cert and Mortgage Plus products by 0.03% and 0.05% respectively.

  • Borrowers to exploit interest rate cuts

    11 Jan 2008

    Homebuyers played the mortgage market to their advantage last year and are looking to capitalise on future interest rate cuts, says Spicerhaart Financial Services.

  • Bridgewater stays on Just Retirement Solutions' panel

    9 Jan 2008

    Bridgewater Equity Release has retained its place on the panel of Just Retirement Solutions.The brokerage reviewed its panel at the end of 2007 and retained Bridgewater as the only home reversion provider.Andrew Dixon, marketing and sales manager at Bridgewater, says: “Our continued inclusion on the panel means that Bridgewater retains its place on this vitally important distribution channel allowing more customers access to our products and services.”

  • Britons pushing for government action on empty homes

    9 Jan 2008

    Two thirds of Britons believe the government needs to combat empty homes, a study by Halifax has revealed.

  • Broker feedback leads edeus to revamp website

    7 Jan 2008

    Edeus has overhauled its website to make it more user-friendly.

  • Brokers relaxed about CGT change

    7 Jan 2008

    Brokers believe scrapping taper relief for an 18% flat rate fee under changes to Capital Gains Tax will not affect buy-to-let.BM Solutions asked 268 brokers and 56% said it would have no impact on the sector while 27% said the new rate would encourage investment. Just 17% said it would discourage landlords. Tim Hague, managing director of BM Solutions, says: "While CGT will form a part of clients' decision to invest, brokers don't think it's a deciding factor."

  • C2 Financial extends proc fee guarantee

    11 Jan 2008

    C2 financial is extending the cover of its proc fee guarantee to all mortgage brokers.

  • Central banks commit to fighting inflation

    8 Jan 2008

    Central banks around the world yesterday committed to the fight against inflation.

  • Chancellor defends tripartite structure

    10 Jan 2008

    The chancellor has ruled out returning individual banking supervision to the Bank of England under plans to reform the UK insolvency regime.

  • CHL joins Creative lender panel

    10 Jan 2008

    CHL Mortgages has been appointed to Creative Mortgage Solutions’ lender panel.

  • CHL launches B2L products

    7 Jan 2008

    CHL Mortgages has launched a new range of fixed-rate and tracker buy-to-let products.

  • CHL launches new buy-to-let range

    7 Jan 2008

    CHL Mortgages, has launched four new fixed-rate and two new tracker products to add to its buy-to-let range.

  • Church of England offers debt advice

    7 Jan 2008

    The Church of England is answering the prayers of millions of people struggling with post Christmas debt by offering a debt advice service.

  • Church set to offer life and debt advice

    7 Jan 2008

    The Church of England is to begin offering practical and spiritual help, including debt advice, to anyone caught in the grip of the post Christmas financial blues.

  • Clients deserve better from lenders

    7 Jan 2008

    A new year always brings resolutions and some in the mortgage industry should make a resolution to give consumers better deals. As it stands, hidden fees stack the deck against borrowers and things need to change.

  • Clients need better access to advice

    7 Jan 2008

    Although the final business figures for the equity release market in 2007 have not yet been released, it is still possible to assess how last year was for the sector.

  • Cold snap

    7 Jan 2008

    At a work party before Christmas, an employee of one lender let slip that he had recently hosted a tarts and toffs party.

  • Consumer confidence subdued despite rate cut

    9 Jan 2008

    The Nationwide consumer confidence index dropped in December despite the cut in the Bank of England base rate.

  • Curriculum Vitae: David Ford

    7 Jan 2008

    “I bought a kite board five months ago, which remains unwrapped”

  • Dear Delia...

    7 Jan 2008

    My client wants to supplement his retirement income with buy-to-let investments and is looking to buy two properties that he wants to let to professionals. He has a budget of £170,000 per property and can put down a 20% deposit on each. He wants to buy at a discount because he thinks there will be little or no capital appreciation over the next year or so. He also wants a keenly priced buy-to-let product. What do you suggest?

  • Dear Strategy - 7 January 2008

    7 Jan 2008

    After coping for five months with no mobile phone, I thought I was doing well but here in India I’m longing for some creature comforts – for example, cutlery. Many meals here are served on a large banana leaf and eaten with your hands.

  • Debt growing faster, says charity

    7 Jan 2008

    Personal debt at the end of November 2007 stood at £1.4trillion, Credit Action claims. The financial education charity says the growth rate of debt in the UK rose to 9.5% in the previous 12 months. Total secured lending on homes at the end of November 2007 stood at £1.1trillion.

  • Easier2move appoints account manager

    7 Jan 2008

    Online conveyancer Easier2move has appointed Kelly Verrinder as account manager for the east of England.

  • Elephant announces £1m half-year loss

    7 Jan 2008

    Elephant Loans & Mortgages suffered a £1m pre-tax loss for the six months to September 30 last year due to downturns in the sub-prime and individual voluntary arr-angement sectors.

  • Em- to rescue brokers left hanging by Prestige Acceptance closure

    9 Jan 2008

    Em- Financial has pledged to help brokers with deals submitted to defunct packager Prestige Acceptance to place cases.

  • Exclusive Connections launches exclusives from Kensington

    7 Jan 2008

    Exclusive Connections is offering self certification customers the chance to borrow up to 90% loan to value with a new range of prime exclusives from Kensington.

  • Ex-Newcastle directors broker Telegraph deal

    7 Jan 2008

    MI Business Solutions, the financial services consultancy launched by former Newcastle directors Tony Ibson and Angus Macnaughton in 2006, has brokered a white label service for the Telegraph Media Group through Approved Properties Abroad.

  • Experts lukewarm about Darling's plan for banks

    7 Jan 2008

    A banking expert has warned that the devil will be in the detail when it comes to chancellor Alistair Darling's proposals to give the Financial Services Authority new powers to deal with failing banks.

  • Firms team up on HIP ordering

    7 Jan 2008

    OpenBook has joined software provider Vebra to offer an integrated Home Information Pack ordering service. Over 3,600 estate agency branches use Vebra's software.

  • FSA bans broker for false applications

    7 Jan 2008

    The Financial Services Authority has banned a Bournemouth-mortgage broker for submitting false applications, some of which used fake documents.

  • FSA director overhaul

    10 Jan 2008

    The Financial Services Authority has appointed Sally Dewar as its new managing director of wholesale, as part of an overhaul of its director framework.

  • FSA unveils regional surgeries for small firms

    9 Jan 2008

    The Financial Services Authority is offering free surgeries for small regulated firms in Brighton, Tunbridge Wells and Redhill in February.The sessions are open to financial advisers, mortgage brokers and general insurance brokers from these regions between the February 12 – 14.They are being offered as part of the FSA’s commitment to help small firms with compliance and will allow firms to raise regulation questions with an FSA supervisor.

  • Give ex-council properties a chance

    7 Jan 2008

    Lenders and surveyors should overcome their prejudices and judge the suitability of local authority-built properties for mortgages on the level of demand, says Simon White

  • Gloomy news to warm FTBs' hearts

    7 Jan 2008

    To cap what was not a good year, 2007 drew to a close with yet more doom and gloom.

  • Goldman Sachs asked to compile Northern Rock report

    8 Jan 2008

    The government has asked Goldman Sachs to deliver a report on options for Northern Rock to inform its decision about the future of the bank.

  • Goldman Sachs' billions could oil NR bid

    7 Jan 2008

    Goldman Sachs is rumoured to be close to completing a £15bn financing package for Northern Rock bidders.

  • Goldman Sachs buys Money Partners

    9 Jan 2008

    Money Partners has been bought outright by investment giant Goldman Sachs.

  • Hamptons appoints lawyer

    7 Jan 2008

    Hamptons International has appointed Suzanne Dibble as legal director. Dibble joins from ITV and previously worked for DLA Piper. She will be based at Hamptons' London headquarters in Grosvenor Square.

  • Hedge fund urges shareholders to resist NR takeover bids

    7 Jan 2008

    Hedge Fund RAB Capital has written to Northern Rock’s shareholders ahead of the emergency general meeting slated for January 15 urging them to back resolutions tabled by itself and fellow hedge fund SRM Global.

  • Hoping for higher service standards

    7 Jan 2008

    Let's hope the new year will see some lenders iron out the service issues that blighted them towards the end of 2007, especially the once-excellent C&G, says Sue Read

  • House price growth slows

    7 Jan 2008

    Nationwide's latest house price index shows price growth slowed across the UK to 6.9% in Q4 2007 from 9.3% in Q3. The average house price fell from £184,131 to £183,959.

  • House prices rise 1.3% in December

    8 Jan 2008

    House prices increased by 1.3% in December after three successive monthly falls, reveals the Halifax House Price Index published today.

  • How to weigh up the value of leads

    7 Jan 2008

    Brokers should compare the results they get from using leads with their other marketing activities to arrive at a fair judgement of their effectiveness, says Justin Rees

  • HSBC SVR was lowest in 2007

    7 Jan 2008

    HSBC was the lender with the lowest SVR throughout 2007, a survey by Defaqto reveals.

  • IMS bolsters Paradigm partnerships

    10 Jan 2008

    Independent Mortgage Solutions has joined Paradigm Mortgage Services as the latest full partner member of its mortgage partnership proposition.

  • Investment giants agree on US recession

    11 Jan 2008

    US investment giants Goldman Sachs and Merrill Lynch have both agreed that the US economy is on a downward spiral.

  • John Charcol for sale

    10 Jan 2008

    John Charcol has been put up for sale by its private equity backers, with speculation in some reports putting a £50m price tag on the brokerage. The firm says that following a record year of business in 2007 and the receipt of a number of expressions of interest in the business from third parties, the company has appointed investment bank Gleacher Shacklock to review its financing and ownership options. Set up in 1974, John Charcol was bought by Bradford & Bingley in 2000 ...

  • Just Retirement warns of shortfall in profit expectations

    8 Jan 2008

    Just Retirement has warned there is likely to be a moderate shortfall in profits compared to analysts' predictions in its full-year results.

  • Last laugh

    7 Jan 2008

    A Barclaycard director has left the company shame-faced after making an off-ensive gag about the firm's quarterly results.

  • Leadbay predicts advice demand

    7 Jan 2008

    Leadbay predicts a boom in consumer demand for mortgage advice this month. It expects the surge because the first two weeks of every year are the busiest time for new loan and mortgage enquiries.

  • Lenders expect demand to fall

    7 Jan 2008

    Lenders anticipate that demand for house purchase lending will fall in 2008, says the Bank of England. Some 25% of the companies it polled foresee a downturn.

  • Lenders obliged to warn indebted borrowers

    8 Jan 2008

    Lenders will have to start warning borrowers if they are in danger of sliding into serious financial problems, under changes to banking rules.

  • LIBOR drops by over 0.5%

    7 Jan 2008

    Three-month LIBOR has fallen by more than 0.5% following the Bank of England's injection of £11.4bn into the UK money markets last month to increase liquidity.

  • Management in the FSA's spotlight

    7 Jan 2008

    The regulator's quality of advice review highlights room for improvement in many broker firms' management systems and training procedures, says Bill Warren

  • Market Watch 7 January 2008

    7 Jan 2008

    Swaps posted some big falls over the Christmas period and it will be interesting to see how lenders respond. After all, the new year has started and their 2008 targets are ticking away. It should be easy for one of them to hoover up market share and still make money.

  • Merrill Lynch loses two more UK directors

    8 Jan 2008

    Daniel Pace, head of Merrill Lynch's global structured finance and investments division, and Olivier DeFaux, director of consumer, principal and strategic investments, are both believed to have left the investment bank.

  • Middle East cash may seal Rock takeover

    10 Jan 2008

    Goldman Sachs is rumoured to be approaching Middle Eastern investment companies in a bid to compile a funding package for the Northern Rock bidding process,

  • Monthly house price growth hits two-year low

    11 Jan 2008

    December house prices saw their lowest montly increase since July 2005, the Financial Times house price index shows.

  • More space for PTFS

    7 Jan 2008

    Personal Touch Financial Services has relocated to Trinity Park in Birmingham to accommodate its rapid growth.

  • Mortgage frog won't become a prince

    7 Jan 2008

    There can be few fixed rate borrowers who haven't been alerted to the fact that they are tottering on the brink of penury as the clock counts down the repayments left on their cheap rate mortgage deals.

  • Mortgagematch and Kensington launch 90% LTV self-cert product

    7 Jan 2008

    Mortgagematch Homeloans is offering self-cert loans for up to £500,000 or 90% LTV.

  • Most Londoners don't consider EPCs, says Hamptons

    8 Jan 2008

    Hamptons International has revealed that 67% of London buyers consider energy-saving features to be of least importance when searching for a property.

  • Most readers reviewed cases over Christmas

    7 Jan 2008

    An impressive 63% of Mortgage Strategy Online readers reviewed their existing client cases over Christmas, leaving 37% to take a break from work and eat too much pudding.This week, Mortgage Strategy asks: "Will you add equity release to your skills set this year?"

  • MP lobbied to push for rate cut

    7 Jan 2008

    Local estate agents have called on Brentwood and Ongar MP Eric Pickles to press for a base rate cut to revive the ailing property market.

  • MPC freezes base rate at 5.5%

    10 Jan 2008

    The Monetary Policy Committee has voted to freeze the Bank of England base rate at 5.5%.January’s decision comes after MPC members voted unanimously for a base rate cut last month, bringing interest rates down by 0.25% in December.This followed a five-month rate freeze at 5.75% since July 2007.Today’s rate freeze confounds calls from some industry pundits for the MPC to cut the base rate again in order to ease pressure on borrowers.

  • MPs slate HIP rollout delays

    7 Jan 2008

    The Communities and Local Government Select Committee has slammed the delayed rollout of Home Information Packs and accused the government of a failure of nerve in the face of media opposition.

  • Mutuals dominate league table

    7 Jan 2008

    Mutuals dominate a league table of the most competitive UK lenders compiled by price comparison website Mform.co.uk. Furness was named the most competitive lender of 2007. Giraffe, owned by Bank of Ireland, was the highest placed bank in the league table and was rated 11th. Mform.co.uk's research focussed on direct-to-consumer products.

  • Mutuals fret about funding in 2008

    7 Jan 2008

    A whopping 92% of mutuals say they are concerned about funding over the next 12 months.

  • Nationwide launches intermediary desktop alert service

    11 Jan 2008

    Nationwide has launched a new desktop alert service for intermediaries.

  • Nearly half of corporate brokers want to be self-employed

    9 Jan 2008

    Nearly 50% of brokers employed by a company say they would prefer to work for themselves, reveals research by BM Solutions.

  • Network Data suspends Homeowners Mortgages

    7 Jan 2008

    Network Data Holdings has suspended Homeowners Mortgages and let go seven members of staff due to ongoing problems in the credit markets.

  • Network strives to save failing member

    7 Jan 2008

    Independent broker network FT Partners is trying to prevent its member Liberty Secured Loans from going into administration as part of a plan to acquire the business.

  • Network winners and losers of 2007

    7 Jan 2008

    I have to start with an apology as these tables could only be updated to December 22 due to difficulties downloading the relevant statistics from the Financial Services Authority's website.

  • New blood at the helm of web firm

    7 Jan 2008

    Peter Stibrany has been appointed group managing director of web application company xit2.

  • New income streams no easy task

    7 Jan 2008

    Brokers are being urged to diversify and find new sources of income, but in reality this is hard and requires a review of existing services to see whether they can be expanded, says Sally Laker

  • New-look MT network to be branded Vision

    7 Jan 2008

    Vision Network has been revealed as the new name for The Mortgage Times Group's appointed representative network.

  • NLA launch e-learning programme

    7 Jan 2008

    The National Landlords Association has launched an e-learning programme for landlords in the private rented sector.

  • No good news on industry's horizon

    7 Jan 2008

    I'd love to say something positive about what this year holds for the mortgage market but I can't because there are too many unknowns.

  • No reason to believe doom mongers

    7 Jan 2008

    Here we are at the beginning of 2008 - a chance to put 2007 firmly behind us and look ahead with fresh hope.

  • NR fiasco may cost taxpayers dear

    7 Jan 2008

    Last November I commissioned a cartoon for Lending Strategy showing two City gents outside the Old Lady Of Threadneedle Street. Looking at a big bright sign over its portico which read 'Bank of England Mortgages', one was saying to the other, "If we see a queue going around the block, we're all buggered."

  • NR flogs lifetime loan book to JP Morgan

    11 Jan 2008

    Northern Rock has revealed it's selling its portfolio of lifetime equity release mortgages to US investment giant JP Morgan.

  • Only Group launches conveyancing website

    9 Jan 2008

    The Only Group has set up a conveyancing website to help brokers tap into a second income stream.

  • Packager employment levels on the rise, says TMB

    8 Jan 2008

    Mortgage packager employment numbers are on the rise, says research from The Mortgage Business.

  • Packagers bring valuable experience and intuition

    7 Jan 2008

    As a sole trader, I would like to praise packagers in general and mine - Premier Mortgage Centre - in particular.

  • Paragon raising £287m via share rights issue

    11 Jan 2008

    Paragon Group has this morning revealed it will raise £287m of capital from shareholders through a rights issue. The buy-to-let lender says this will ensure it will be able to repay all outstanding debts up until 2017.Paragon is seeking to put in place new financing facilities and when these have been settled, it will launch a new range of buy-to-let products for new lending.The share price plunged nearly 38% to 63p in this morning's trading.

  • PM and chancellor urge lenders to pass on rate cuts

    9 Jan 2008

    The Prime Minister and chancellor have called on mortgage lenders to pass on December's cut in the Bank of England base rate to borrowers.

  • Prepare to give clients debt advice

    7 Jan 2008

    Kevin Paterson takes a weekly look at the latest developments in the market and brings you what's hot and what's not in the world of mortgages

  • Prestige Acceptance ceases trading

    8 Jan 2008

    Cardiff-based packager Prestige Acceptance has closed its doors to new business.

  • Promise offers £100 sweetener

    7 Jan 2008

    Promise Solutions has launched a £100 incentive for all secured loan completions submitted in January. It will be paid in addition to any commissions already attached to Promise products.

  • PTP offer self-cert prime range with Kensington

    7 Jan 2008

    Personal Touch Packaging is offering self-cert borrowers the chance to borrow up to 90% LTV with Kensington’s new prime products.

  • Pundits attack MPC decision

    10 Jan 2008

    Several industry pundits have slammed the Monetary Policy Committee’s decision to hold the Bank of England base rate at 5.5% today.

  • Rate cut hopes high as 2008 dawns

    7 Jan 2008

    As we leave the festive season behind and look at what the new year has in store, rate cuts and ways to make Stamp Duty fairer are high on our list of priorities, says Katie Tucker

  • Remortgaging drops 21% in one month

    8 Jan 2008

    A 21% drop in remortgage volumes could be a sign borrowers are sticking with existing lenders warns the Council of Mortgage Lenders.

  • Remortgaging volumes fell by a fifth in November says CML

    8 Jan 2008

    Remortgaging volumes fell by a fifth in November, according to the latest figures from the Council of Mortgage Lenders.

  • Rogues will continue to prosper until all advisers are treated equally

    7 Jan 2008

    Hardly a week goes by when warnings from the Financial Services Authority concerning mortgage brokers are not featured in Mortgage Strategy. I recently attended a Retail Distribution Review feedback session at the FSA's Canary Wharf headquarters and the audience of about 50 consisted only of IFAs. No brokers seemed to be present. I wonder why.

  • Satellite packagers can be an effective distribution channel

    7 Jan 2008

    While I agree with Justine Tomlinson when she says "lenders need strong distribution strategies that deliver volume and quality while enabling packagers to offer valuable services to brokers" (Mortgage Strategy December 17 2007), I disagree with her assertion that satellite packagers are not important.

  • Savills reports record results for 2007

    8 Jan 2008

    Estate agency group Savills says that bullish house prices at the top end of the property market have led to record results for 2007.

  • Shadow MPC

    7 Jan 2008

    Inflationary pressures are building and the effects of the liquidity crisis are still working their way through the system so the Mortgage Strategy GE Money Home Lending Shadow Monetary Policy Committee is calling for a hold in the base rate by a single vote this month

  • Singletons most likely to ignore base rate changes

    9 Jan 2008

    Single borrowers are nearly twice as likely to ignore Bank of England base rate movements than couples, research by Intelligent Finance shows.

  • Six in the City - 7 January 2008

    7 Jan 2008

    Rob Thickett’s attempt to take a new year break from the mortgage market is doomed

  • Skipton appoints intermediary sales manager

    7 Jan 2008

    Skipton has appointed Simon Pooley as its intermediary sales manager for Sussex and Surrey.

  • Small increase in house prices

    7 Jan 2008

    Land Registry data for November shows house prices increased by 0.6% compared with October. The annual rise in house prices in November was 8.1%, with the average house price reaching 186,009.

  • Solent celebrates £1bn+ of mortgage completions in 2007

    10 Jan 2008

    Solent Mortgage Services topped £1.1bn in mortgage completions in 2007.

  • Spate of IVAs predicted in 2008

    7 Jan 2008

    KPMG predicts that 130,000 consumers will enter into individual voluntary arrangements or declare themselves bankrupt in 2008. This is despite a drop in the value of bad debt written off by creditors in 2007 - £1.3bn compared with £1.4bn in 2006.

  • Speakers unveiled for Mortgage Expo Belfast

    7 Jan 2008

    Some of the mortgage industry's biggest names will speak at this year's Mortgage Business Expo Belfast on January 30.

  • Stay close to clients and obey the rules

    7 Jan 2008

    It was a tough end to 2007 and there's no doubt industry players face challenges.

  • Stock Picker

    7 Jan 2008

    Speculation surrounding Spanish lender Banco Santander making a bid for Alliance & Leicester was the most prominent feature of the market last week.

  • Survey finds Trigold most popular

    8 Jan 2008

    A lender commissioned survey has found Trigold to be the most popular sourcing system among UK brokers.

  • Swift appoints national account manager

    11 Jan 2008

    Swift Group has appointed Neil Molyneux as national account manager for mortgages.

  • Swift appoints new business manager

    9 Jan 2008

    The Swift Group has appointed Keely Groves as the new business manager at its Brentwood head office.

  • TBMC launches exclusive product for discounted purchases

    10 Jan 2008

    The Business Mortgage Company has launched an exclusive 100% LTV buy- to-let mortgage for discounted property purchases.

  • TFC Homeloans to expand panel

    7 Jan 2008

    TFC Homeloans has unveiled plans to expand its lender panel from 13 to 17 by the end of February. The packager, which added BM Solutions to its panel last week, says it is in talks with three lenders.

  • Thanks to Skipton for great products and service in 2007

    7 Jan 2008

    I'd like to thank Skipton for its support during 2007. It has been a pleasure to deal with and provided consistently strong products and service.

  • The Hanley appoints new executive director

    8 Jan 2008

    The Hanley has appointed Dianne Thompson to its board as an executive director. Formerly head of business development at The Hanley, Thompson's new title will be operations director. She joined the mutual in 2002 as sales and marketing manager from Bradford & Bingley.

  • Those who know must speak the truth

    7 Jan 2008

    In Tom Stoppard's classic 1966 stage play Rosencrantz and Guildenstern are Dead there's a section that deals with the collaborative nature of reality.

  • TMB appoints BDM

    7 Jan 2008

    The Mortgtage Business has appointed Caroline Carroll as BDM for South and West Yorkshire and Lincolnshire.

  • Too bad the FSA didn't take away Burgess' soapbox

    7 Jan 2008

    Few in the industry can have missed the news that Blackandwhite.co.uk had a public visit from the Financial Services Authority at the end of last year.

  • West Brom signs on to Trigold's ENC system

    7 Jan 2008

    West Brom for Intermediaries has signed up to Trigold’s Enhanced Non-Conforming sourcing module.

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