Mortgage Strategy
7 May 2007

  • Court blocks sale of ABN Amro unit

    8 May 2007

    The sale of ABN Amro's US LaSalle unit to Bank of America has been blocked by a court in Amsterdam. It has ordered the bank to consult shareholders before selling subsidiaries and slams the sale as unlawful because it could thwart other takeover bids.

  • Ian Rush says MS is tops for brokers

    8 May 2007

    Legendary Liverpool FC goal scorer Ian Rush - now an ambassador for the club - says Mortgage Strategy is the only mortgage trade magazine brokers should read. Rush says: "Mortgage Strategy is the best magazine for the intermediary market. Its grown-up approach to news and features makes it a must-read for everyone in the market. In my opinion, Mortgage Strategy is the market's leading publication."

  • Newcastle names internet manager

    8 May 2007

    Newcastle has appointed Michael Boyle as internet marketing manager.He will be responsible for managing all new media-related sales and marketing activities. He will ensure brand consistency across new media channels and manage the production of marketing materials relating to new media products and services.

  • Personal debt hits £1.3trillion

    8 May 2007

    Total UK personal debt stood at £1.3trillion at the end of March, says Credit Action. Secured lending on homes stood at £1.1trillion.

  • Vertex in service deal with HSBC

    8 May 2007

    Vertex has signed a service contract with HSBC Life for several new protection and life investment products. The first phase involves Vertex providing the administration for a guaranteed income bond product range.

  • £100Bn worth of fixed deals to end

    8 May 2007

    Over £100bn worth of fixed rate mortgages could come to an end this year, says mform.co.uk. It says many people will see their mortgage repayments rise by around £1,000 a year if they move onto lenders' SVRs.

  • A 0.5% rate hike could break the camel's back

    8 May 2007

    Interest rate rises are a bit like straws. Nobody seems to notice them until there is an enormous crack. As the last one lands, the camel's back goes.

  • A better way to handle rate changes

    8 May 2007

    To save all the frantic activity when rates are pulled at short notice lenders should put in place a system whereby deals could be reserved by clients paying booking fees, says Sue Read

  • A&L launches specialist mortgages

    9 May 2007

    Alliance & Leicester has launched a range of specialist mortgages.

  • Advantage appoints chief surveyor

    10 May 2007

    Advantage has appointed David Dalby as chief surveyor.

  • Advantage enhances Flexishare

    9 May 2007

    Advantage has unveiled enhancements for its Flexishare products.

  • Advantage makes sales appointment

    8 May 2007

    Advantage has appointed James Higgs as regional sales manager for London. He will be responsible for building and maintaining Advantage's key relationships with specialist mortgage intermediaries in the capital and for driving up sales.

  • AFB may push for fees boost

    8 May 2007

    The Association of Finance Brokers is considering lobbying the government to increase the amount secured loan brokers can charge for advice.

  • AFB welcomes the FSA's commitment to small firms

    9 May 2007

    The Association of Finance Brokers has welcomed the Financial Service Authority’s commitment to small firms, in its Treating Customer’s Fairly progress report.

  • Affinity partners are crucial

    8 May 2007

    Just Retirement says the key to the long-term success of the equity release sector is for companies to have affinity partners.

  • Affordability worsens for first-time buyers

    8 May 2007

    The Council of Mortgage Lenders has warned higher interest rates are causing first-time buyers to spend more of their income on mortgage interest payments.

  • Assurant Solutions enters Irish insurance market

    8 May 2007

    Assurant Solutions has revealed it is to enter into the Irish insurance market.

  • Average mortgage payments up 15%

    8 May 2007

    Research out from Woolwich has revealed that mortgage payments in England and the UK are up 15% with the average amount in April £590.

  • B2L market is a help to first-time buyers, says A&L

    8 May 2007

    The buy-to-let market could be helping first-time buyers to get on the property ladder as they increasingly snap up former rental properties, research from Alliance & Leicester reveals.

  • Barclays' 28 x income offer to my client was plain stupid

    8 May 2007

    From Jamie Challis

  • Base rate is close to its peak, says Charcol

    10 May 2007

    John Charcol says the base rate is probably close to its peak.

  • BDM of the week

    8 May 2007

    Ian Hall is likeable, easy to get along with and has an eye for detail that makes him an invaluable resource. He cares about our business and it shows in his work, says Mark Perry

  • BDS broadens its horizons

    8 May 2007

    BDS Mortgage Group has linked up with Conti Financial Services to provide finance for holiday, investment and retirement properties in 40 countries from over 200 products. The service will be on display at the BDS Winners in Business exhibition on May 3 in Portsmouth.

  • Beacon takes affordability route

    8 May 2007

    Beacon Homeloans is to introduce affordability-based lending on full status applications. The firm's affordability-based lending model uses a calculation that assesses applicants' expected net income, living costs and existing loans to work out affordable mortgage repayment amounts for clients.

  • Blue Peter star sued by Foxtons

    8 May 2007

    Blue Peter star Konnie Huq is being sued by Foxtons after she allegedly refused to pay thousands of pounds for "minor repairs" on her buy-to-let property.

  • BM Solutions caps B2L tracker rates

    8 May 2007

    BM Solutions has launched capped rates for its buy-to-let tracker range to counter the threat of a predicted 0.25% rise in the Bank of England base rate.

  • BM Solutions launches sub-prime deals

    10 May 2007

    BM Solutions has launched a collection of three-year tracker deals across its sub-prime and self-cert ranges.

  • BoE increases base rate to 5.50%

    10 May 2007

    The Bank of England's Monetary Policy Committee has voted to raise interest rates by 25 basis points in May to 5.5%.

  • BoE says it's good to talk

    8 May 2007

    The Bankof England has admitted it needs to do more to communicate with the financial community.

  • Brilliant to open regional offices

    8 May 2007

    Brilliant Loans, part of the Exclusive Connections packaging network, is opening two offices in Sheffield and Swansea, with a third to follow in Cheltenham.

  • Brits fall out of love with DIY, says Woolwich

    10 May 2007

    Brits love affair with DIY may finally be beginning to wane, says Woolwich mortgages.

  • Brokers back equity release

    8 May 2007

    Safe Home Income Plans' lending figures for March show mortgage brokers now sell over half of all new equity release business.

  • Buy-to-let will survive rate rise, says TMW

    10 May 2007

    The Mortgage Works say the buy-to-let market will continue to grow despite the 0.25% rise in interest rates today. Matthew Wyles, group development director at TMW, says: “This rate increase comes at a time when insolvencies have already started rising.

  • CAL launches new broker website

    8 May 2007

    Conveyancing Alliance Limited has unveiled its new broker website www.movewithcal.com.

  • Challenging times for remortgaging

    8 May 2007

    Brokers may have received calls from alarmed clients over the past week or so following the earthquake in Kent - not previously known for being the epicentre of anything much as far as I can recall.

  • Changing places

    8 May 2007

    Television programmes give an insight into our concerns and desires as a nation. While much attention is presently focussed on go-getting business programmes such as Dragon's Den and The Apprentice, another breed of documentaries is captivating television audiences by taking a different approach.

  • Cheshire’s 25-year fixed rate still available

    8 May 2007

    Cheshire Building Society’s long-term fixed rate mortgages are still available offering borrowers the security of fixing their monthly payments with the flexibility to exit the deal after six years without an early repayment charge( terms and conditions apply).

  • CML attacks rate pessimism

    8 May 2007

    The Council of Mortgage Lenders has accused the industry of having a pessimistic outlook on interest rates.

  • Come on down, the price of HIPs is right

    8 May 2007

    Fewer than four weeks to go before Home Information Packs become compulsory on June 1 and brokers at last seem to be focussing on what needs to be done to ensure they're ready for the big day.

  • Commercial appointment

    8 May 2007

    Pink Home Loans has appointed Clare Harley as sales consultant to its commercial team. Harley has worked at Pink for eight years.

  • Commercial deals for landlords

    8 May 2007

    Commercial First has unveiled a range of investment mortgages aimed at the growing number of landlords looking to add commercial properties to their portfolios. The range requires the rent of the properties involved to cover 100% of the repayments and applicants must provide evidence of good conduct with a previous investment property.

  • Conference on sub-prime in June

    8 May 2007

    The Finance and Leasing Association will hold a sub-prime conference in association with accountancy firm Ernst & Young in London on June 5.

  • Coventry unveils deals via Godiva

    8 May 2007

    Coventry has launched a range of residential and specialist deals through Godiva. The residential range includes a 10-year fixed offset product with early repayment charges limited to the first five years of the deal.

  • Cover

    8 May 2007

    At the recent Mortgage Summit at the Jumeirah Beach Hotel in Dubai, delegates tackled issues ranging from proc fees and the role of packagers to the impact of regulation, says Robert Thickett

  • Credit committees will call time soon

    8 May 2007

    With a rate rise almost certain this week, several things are clear - anyone who is not on a fixed rate will experience a rise in their monthly mortgage payments and buy-to-let investors will need to come up with even heftier deposits if they are to maintain their rental income to mortgage payment coverage ratios.

  • Cupis voices his ambitions for Sesame

    9 May 2007

    John Cupis has pledged to make Sesame a more vocal player in the market, as he starts his second week as head of mortgages at the network.

  • Curriculum Vitae: Alex Rodgers

    8 May 2007

    "I've only been bungee jumping once but that was more than enough for me."

  • Customer Financial Solutions acquires Kensington's TML

    9 May 2007

    Customer Financial Solutions, a business backed by private equity firm Kelso Place Asset Management, has acquired TML Financial Solutions from Kensington Group for an undisclosed sum.

  • Dashboard appoints new members

    11 May 2007

    Dashboard Software has appointed three new members.

  • Dear Delia

    8 May 2007

    Dear Delia Darren and Sarah have a mortgage of 145,000 and are comfortably making monthly payments of 1,050 on their lender's SVR. They want to remortgage their property which is worth 195,000, and are interested in products which allow them to overpay each month and reduce the amount of interest they pay. They have savings of 15,000 with a society in a cash ISA and a deposit account. What impact would this type of product have on their finances? Delia says: This is a common query and ...

  • Delegates point to technology hype

    8 May 2007

    Research among delegates at the recent Mortgage Summit in Dubai reveals that the majority believe point-of-sale offers and automated valuation models are overhyped.

  • Deutsche funds Money Partners' high LTV deals

    8 May 2007

    Money Partners has branched out into high LTV lending through a funding arrangement with Deutsche Bank.

  • Dutch minister calls for ABN Amro solutions

    9 May 2007

    Dutch finance minister Wouter Bos has called on all parties currently embroiled in the ABN Amro merger saga to quickly come up with a clear solution.

  • Earthquake disrupts home buying plans in Folkestone

    8 May 2007

    The freak earthquake that hit southern Kent recently has stalled the plans of many home buyers who were poised to complete on their mortgage deals.

  • Easier2move names winner

    8 May 2007

    Easier2move has named the winner of its spring holiday competition as Andrews Estate Agents in Tewkesbury, Gloucestershire. It will receive £2,000 worth of holiday vouchers. The firm has also launched a summer competition to find its biggest leads provider.

  • Elephant launches inhouse training

    8 May 2007

    Elephant Loans, the sales distribution channel for specialist lenders, has established an inhouse training facility, the Elephant Academy. It provides sales training and compliance tuition for all staff. The firm believes it will help to raise standards.

  • em- offers free vals on Beacon range

    8 May 2007

    em–financial is offering free valuations, no application fee and free legals across the Beacon Homeloans range.

  • Enterprise boldly grows with Promethean

    8 May 2007

    Last month, Enterprise Group surprised the mortgage industry with its announcement that Sir Peter Burt, the former HBOS deputy chairman who went on to become chairman of ITV, had invested £8.5m in the firm to gain a 30% shareholding.

  • EPC impact to be fuelled by energy costs

    8 May 2007

    With Home Information Packs set to become a reality in less than a month, their opponents are becoming more vocal. However, assuming that HIPs do come into force in June, their Energy Performance Certificate component could fundamentally alter what buyers look for in houses.

  • Estate agents must take responsibility

    8 May 2007

    With the introduction of Home Information Packs just a month away, estate agents find themselves in the spotlight as never before.

  • EXCLUSIVE: Freedom to reveal new name in June

    9 May 2007

    Freedom Lending has revealed it will be unveiling its new name to the market on June 25.

  • Experian acquires Tallyman

    11 May 2007

    Experian, the global information solutions company, has acquired the Tallyman debt collection management software and operations.

  • False insurance claims cost 4bn a day, says ABI

    10 May 2007

    Fraudulent insurance claims are now costing insurers and honest customers over 4m every day, figures released by the Association of British Insurers reveal.

  • First Plus loses another director

    9 May 2007

    Mark Allwood, wholesale director at First Plus has quit the firm, joining a long line of recent departures from the company.

  • Firstrung hits out at flatpack houses

    9 May 2007

    'Legoland' flatpack houses have been slammed as ‘unmortgageable’ by Firstrung.

  • Follow the best, learn from the worst

    8 May 2007

    The regulator is providing good and bad practice examples on the use of compliance consultants and small firms would be well advised to take on board its guidance, says Bill Warren

  • For clients it's not easy being green

    8 May 2007

    Since this year's Budget, we have seen lenders queuing up to either launch green mortgages or announce their plans to do so. Yet the Council of Mortgage Lenders says there is still no clear definition of what a green mortgage is.

  • Freedom reduces prime tracker rates

    8 May 2007

    Freedom Lending has reduced its tracker rates by up to 0.25% across its range of prime residential mortgage products,

  • FSA sets new TCF deadline

    8 May 2007

    The Financial Services Authority has warned firms who have failed to engage senior management to the principle of Treating Customers Fairly that they face tough action.

  • Future joins SimplyBiz panel

    8 May 2007

    Future Mortgages has been appointed to the lending panel of SimplyBiz Mortgages. Its full range of products will be available to SimplyBiz's 4,000 members.

  • GEMHL appoints insurance leader

    9 May 2007

    GE Money Home Lending has appointed Lesley Winrow to a newly created role of insurance leader, reporting into Bruno Heese, commercial director at GEMHL.

  • GEMHL may boost packaging sector

    8 May 2007

    GE Money Home Lending's acquisition of a minority stake in Solent Mortgage Services is a major boost to the packager market, it has been claimed.

  • GISecure launches buildings and contents insurance

    8 May 2007

    GISecure, formerly Securah, has launched a buildings and contents insurance proposition underwritten by Fortis.

  • Global money eyes national gains

    8 May 2007

    UK mortgage lending is worth 360bn a year and international firms are keen to cash in. An independent national mortgage adviser could be a nice little earner, says Simon Burgess

  • GMAC teams up with eConveyancer

    8 May 2007

    GMAC-RFC has linked up with eConveyancer to offer its packagers exclusive use of an online conveyancing service, available on the lender's website. It will give packagers access to a panel of solicitors.

  • GMAC-RFC and L&G launch microsite for intermediaries

    9 May 2007

    GMAC-RFC and Legal & General have launched a microsite dedicated to Legal & General Mortgage Club members and intermediaries alike.

  • GMAC-RFC implements first redemption swap

    10 May 2007

    GMAC-RFC has implemented its first ever redemption swap in light of the Bank of England base rate going up to 5.5%.

  • Good first year for Spectrum

    8 May 2007

    Spectrum has reported a successful first year of operations. It attributes this to strong growth in the sub-prime market. The lender was set up to offer clients in the sub-prime market a way to obtain new mortgages or to remortgage at affordable rates.

  • Government launches National Skills Academy for Financial Services

    11 May 2007

    The government has launched a National Skills Academy for Financial Services.

  • Help raise funds for Cheshire hospice

    8 May 2007

    Edeus completes whole loan sale Edeus has completed its second whole loan sale in less than a month. The residential mortgage deal, worth over £140m, was signed onApril 27 with Derbyshire Home Loans.Stroud & Swindon appointment Stroud & Swindon has appointed Tony Hall as senior manager of retail distribution. Hall joins from Skipton, where he was regional manager for the South-West.

  • HIPs may strengthen links in the chain

    8 May 2007

    The impending introduction of Home Information Packs has been the subject of plenty of debate, and even now there is talk of the possibility of their implementation falling at the final hurdle.

  • HIPS will save consumers time and money, says AHIPP

    11 May 2007

    Home Information Packs could significantly reduce wasted costs and duplicated information gathering, saving consumers time and money says the Association of Home Information Pack Providers.

  • Hitch your star to the right wagon

    8 May 2007

    Research from McKinsey shows that the right alliance can benefit firms of all types. But like any marriage, the relationship will need work and a bit of TLC, says Sally Laker

  • Home owners should seek help if rate rise hurts, says BSA

    10 May 2007

    The Building Societies Association has urged home owners to seek help if today's 0.25% rate rise hurts.

  • House of Lords to debate HIPs

    8 May 2007

    The House of Lords will debate Home Information Packs in the week starting May 21, after the Select Committee on Statutory Instruments slammed the initiative as "unconvincing". But HIP experts say the debate and subsequent vote will not pose a threat to the introduction of HIPs.

  • House price slowdown continues

    10 May 2007

    House prices rose by the second lowest amount since July 2006 in April 2007.According to the Halifax House Price Index for April, prices rose by 1.1%, the smallest rise in 2007. The annual rate of house price growth actually fell from 11.1% in March down to 10.9% in April.Mortgage approvals also fell, from 118,000 in February, to 113,000 in March. This was the lowest level since April 2006.

  • Housing market is still strong, says economist

    8 May 2007

    Economist John Wriglesworth has stressed that the housing market is still buoyant despite figures showing that demand for mortgages is weakening.

  • IF increases offset SVR

    11 May 2007

    Intelligent Finance has increased its offset standard variable rate from 6.65% to 7.00%.It has also increased its tracker offset mortgage from 4.99% to 5.24%This follows the decision by the Monetary Policy Committee to raise the Bank of England base rate by 0.25%.Mark Parker, managing director at Intelligent Finance, says: “For borrowers, offsetting can reduce the impact of rate rises as it allows them to pay no interest on some or even all of their borrowings."

  • IFS School and Finance launches TCF e-learning package

    8 May 2007

    The IFS School of Finance and e-learning provider Absolutely Training have launched a training package to help those working in the financial services industry to demonstrate they are committed to Treating Customers Fairly principles.

  • Inflation will be tamed, says CML

    10 May 2007

    Following the Bank of England base rate rising to 5.5% the Council of Mortgage Lenders says that there is every prospect that inflation will be tamed.

  • Insolvencies on the increase

    8 May 2007

    Individual insolvencies in-creased by 23.9% in Q1 2007 and consumers are pointing the finger at lenders.

  • Insolvency figures up

    8 May 2007

    Figures from the Government’s Insolvency Service show that a record number of people went insolvent during the first three months of 2007.

  • InterBay Commercial launches fast track mortgages

    9 May 2007

    InterBay Commercial has launched a fast track mortgage service for commercial purchases.

  • Interest rate rise will hit home owners, warns Lib Dems

    8 May 2007

    The expected interest rate rise later this week will put home owners under severe financial pressure, warns the Liberal Democrat Party.

  • Investors over confident about US sub-prime problems

    8 May 2007

    Investors remain overly confident that the US sub-prime crisis will not have a major impact on the US economy, warns Resolution Asset Management.

  • It seems some lenders would like all deals to last 25 years

    8 May 2007

    I never studied economics but I'm pretty sure the mortgage market is influenced by supply and demand. So why do we see the same old stories doing the rounds again and again?

  • It's illogical to ignore your consultants

    8 May 2007

    Financial Services Authority research shows that many small firms are employing compliance consultants but ignoring their findings. This makes no sense at all, says Rob Griffiths

  • Joker ad angers brokers

    8 May 2007

    A promotional leaflet by Tenet Group-owned M&E Network aimed at directly authorised brokers has been slammed as insulting.

  • Jon O'Brien quits PMPA for Newcastle

    11 May 2007

    Jon O'Brien has stepped down from his position of operations director at the Professional Mortgage Packagers Alliance to join the Newcastle.

  • Kensington forums aimed at brokers

    8 May 2007

    Kensington Mortgages is launching a series of business forum roadshows across the country. The roadshows will visit Reading, Manchester, Birmingham and London to help brokers realise their business ambitions. They will offer advice on dealing with the media, preparing for a Financial Services Authority visit and developing new revenue sources.

  • Kent Reliance scheme pays off

    8 May 2007

    Kent Reliance says its recent exchange programme with Leigh City Technology College in Dartford, Kent, which offered eight students the opportunity of work experience in India, was a resounding success. Self-cert gets a bad rap because of concerns that it allows borrowers to be imaginative about their incomes and borrow more than they can afford. The fact that the Financial Services Authority has investigated self-cert fans the flames of such fears, but worries are only justified ...

  • Lack of proper testing is undermining the industry's confidence in HIPs

    8 May 2007

    In a recent editorial (Mortgage Strategy 30 April) you stated that Home Information Packs could turn out to be a great innovation. Your decision not to use the word 'will' shows what is wrong with this project - the absence of any testing involving paid-for packs.

  • Landlords to be hit by EPCs

    9 May 2007

    Buy-to-let investors will soon have to get energy performance certificates for their properties, the government revealed yesterday.

  • Leeds launches B2L lifetime tracker

    8 May 2007

    Leeds has launched a buy-to-let lifetime tracker mortgage at 6.24%.

  • Lehman Brothers to merge second charge brands

    9 May 2007

    Lehman Brothers has confirmed that from June 8 its second charge loan provider London Personal Loans will be incorporated into Southern Pacific Personal Loans.

  • Lehmans in £4m marketing drive

    8 May 2007

    Lehman Brothers is to launch an aggressive multi-brand mortgage marketing campaign armed with a £4m budget.

  • Lenders with packagers in their pocket

    8 May 2007

    Prepare yourself. This is one of the most controversial articles that I have written for Mortgage Strategy. I intend to be careful with every word to prevent any wasted time involving the legal representatives of Personal Touch Packagers battling the lenders and packagers that this column focusses on.

  • Lib Dem warning on society data

    8 May 2007

    The Liberal Democrat party has warned that the lack of data on building societies' funding might make the progress of the Building Society Bill difficult to monitor once it becomes law. Shadow chancellor Vincent Cable has called for a stronger statistical base.

  • London house prices still rising

    8 May 2007

    Average London house prices rose by 0.6% in April to £264,636, data from haart estate agents reveals.

  • MAB doubts rate rise will cool house prices

    10 May 2007

    Mortgage Advice Bureau has questioned whether today's rate rise by 0.25% will cool house prices.

  • Marketwatch

    8 May 2007

    Swaps continued to increase last week, so I've had to increase the scale of the graph beyond 6%. Most swaps are up about 1.5% on the low of September 2005.

  • Me & My Car

    8 May 2007

    I bought British when I bought my trusty and durable MG ZR105 but ended up with a Chinese car. Nevertheless, I will always consider MGs to be classic British creations, says Steve Walker

  • Models get ugly over exit fees

    8 May 2007

    Lenders exhibiting at the Mortgage Business Expo Manchester could come under attack from a broker and several of his glamour model clients over the exit fees they charge.

  • Mortgage Brain launches online secured loan system

    8 May 2007

    Mortgage Brain has revealed it is launching an online secured loan sourcing and application system called the Secured Loan Trading Exchange.

  • Mortgage millionaires make their mark

    8 May 2007

    The financial backers of Purely Mortgages and the owner of Alexander Hall are just a couple of the mortgage and property industry names that cropped up in last week's Sunday Times Rich List.

  • MPLC bids bon voyage to Wells

    8 May 2007

    Mortgages PLC is on the hunt for a new head of marketing following the resignation of Julian Wells last week.

  • MS Shadow MPC votes for 0.25% base rate rise

    8 May 2007

    Mortgage Strategy's Shadow Monetary Policy Committee has voted for a 25 basis point rise in the base rate.

  • MT says it will exhibit at Manchester Expo

    8 May 2007

    The Mortgage Times Group has confirmed it will be exhibiting at Mortgage Business Expo Manchester.

  • Nationwide Consumer Confidence Index up in April

    9 May 2007

    The Nationwide Consumer Confidence Index rose two points in April to 90, its highest point since October 2006.

  • Nationwide increases rates

    11 May 2007

    Nationwide has confirmed it will be increasing its base mortgage rate from June 1 2007.

  • NatWest hikes buy-to-let rate

    8 May 2007

    NatWest last week hiked rates on its buy-to-let two-year fixed rate mortgages. Its standard product is now priced at 6.35% with a £699 arrangement fee. It also offers a remortgage product priced at 6.55%.

  • New poll shows world of work failing young workers

    8 May 2007

    Today’s young workers feel insecure at work, with anxieties about their employment future, about finding good work close to home and about finding a job that will support family life. Those are the findings from a survey of 1,000 young workers aged 18-34, produced exclusively for new union Unite - by ICM Research, and suggest that the world of work is failing younger workers, who are in danger of becoming ‘Generation Anxiety’ as work-related worries and insecurity spread stress ...

  • Now is the worst time to launch HIPs

    8 May 2007

    As we look forward from what has been the warmest April on record, it seems that it is not just the climate that is hotting up.

  • Numbers registering for Tenancy Deposit Scheme increase

    8 May 2007

    One month after the introduction of the mandatory Tenancy Deposit Scheme more than 5,000 lettings offices have registered with an average of 45 offices are being signed up every day.

  • Odds-on rate rise will bring the pain

    8 May 2007

    This week is likely to spell bad news for borrowers across the land when the Monetary Policy Committee meets on Thursday. It is widely expected that there will be another rate rise. In fact, as Jonathan Cornell, technical director at Hamptons Mortgages, reports in Marketwatch on page 33, there’s more chance of it going up by a whopping 0.5% than there is of another rate hold.

  • Onesearch Direct expands for HIPs

    11 May 2007

    Onesearch Direct has completed a funding package in the region of £9m to expand ready for the introduction of Home Information Packs.

  • OpenBook to provide Countrywide with HIPs

    8 May 2007

    OpenBook has signed an agreement with Countrywide, the largest estate agency in the UK, to provide Home Information Packs through its network of 1,073 offices.

  • Optoma expands CHL relationship

    8 May 2007

    Optoma Broker Solutions has added CHL to its panel for England and Wales. Chris Smith, new business manager at Optoma, says: "We are pleased to have the chance to mirror our success in Northern Ireland on the mainland."

  • Optoma launches SPML product

    11 May 2007

    Optoma Broker Solutions has launched a new version of the Southern Pacific Mortgage Limited minor adverse product. The product provides the same criteria as the core range version, has a 0.15% reduction in the pay rate and is available in both two and three-year fixed options.

  • Overseas market guru joins Savills

    8 May 2007

    Miranda John has joined the international division of Savills Private Finance as international manager.

  • Overseas property investors face taxing scrutiny

    8 May 2007

    A leading property consultant has warned overseas property investors to prepare themselves following the government's announcement it plans to crack down on Brits not declaring income earned abroad.

  • Paaleads looks to unsecured loans

    8 May 2007

    Paaleads.com has made unsecured loan leads available through its eBay-style bidding system. It will cater for a variety of lead types, including home owners in need of unsecured loans above and below £10,000.

  • Packager Power

    8 May 2007

    Is buy-to-let becoming a niche market for the mature investor? Are we seeing an oversupply in certain regions and property types? Lombard Street Research predicts a property slump next year. How will this affect the market?

  • Packagers and brokers disagree on growth predictions

    8 May 2007

    Packagers and brokers have disagreed over how much packaging will grow over the next two years.

  • Panels suit brokers more than clients

    8 May 2007

    The annual Mortgage Summit often produces passionate debates but these rarely end in conclusions all delegates can buy into.

  • Park made MEX sales director

    8 May 2007

    Mortgage Express has appointed Gus Park as director of intermediary sales to replace Adrian Scott, who has left to join Heritable Bank as managing director of residential mortgages.

  • Pavillion predicts rosy future for packagers

    8 May 2007

    Pavillion Securities has predicted a rosy future for packagers, after revealing that applications are up over 50% on the first quarter last year.

  • Platform appoints head of IT operations

    8 May 2007

    Platform, the intermediary lender of Britannia, has appointed of Graham Lee to the post of head of IT operations and telecommunications.

  • PMPA adds MEX to panel

    8 May 2007

    The Professional Mortgage Packagers Alliance has added Mortgage Express to its lender panel for self-cert and buy-to-let products. Mark Collar, key account manager of MEX, says: "We're committed to developing solid relationships and are delighted to be part of the panel."

  • Prestbury says acquisitions talks are over

    9 May 2007

    Prestbury says all discussions regarding a possible acquisition offer have ceasedThis follows announcements of March 1 and April 20 concerning possible offer talks. Prestbury intends to focus on its strategy of growing its business organically and by taking advantage of selective acquisition in the mortgage and insurance distribution market that is likely to consolidate.

  • Prime players were sorely missed

    8 May 2007

    The Mortgage Summit in Dubai was a great networking event and well worth attending, but the absence of prime lenders was felt. They'd benefit from turning up next time, says Mark Harris

  • Principality to increase tracker rates

    10 May 2007

    Principality has revealed it will be raising its base rate linked tracker mortgage rates.This follows the Bank of England’s decision to raise interest rates from 5.25% to 5.50%.The society's rate rise will be effective from May 11 2007.

  • Processing costs

    8 May 2007

    In our cover story on April 30, Danny Lovey was quoted as saying the average exit fee is £132.85. This figure actually refers to processing costs.

  • Property prices driving Australian late payments, says Fitch

    8 May 2007

    Fitch Ratings says late payments on Australian mortgages have been driven by property prices rather than by deteriorating fundamentals.

  • Propertyfinder.com slams government over housing supply

    8 May 2007

    Propertyfinder.com has slammed the government for failing to supply enough housing.

  • Quick way to beat gazumping

    8 May 2007

    Gazumping could become a thing of the past as an in-creasing number of people become instant landlords to avoid losing the chance of buying their dream homes, GMAC-RFC has revealed.

  • Rate rise could push borrowers over the edge, says HML

    10 May 2007

    Homeloan Management Limited has warned today’s rate rise could push some borrowers over the edge financially.

  • Rate rise will cause borrowers to struggle, warns mform.co.uk

    9 May 2007

    More than one in seven home owners could struggle if the Bank of England increases interest rates by 0.25% tomorrow, research from online mortgage company mform.co.uk reveals.

  • Rate rise will make more mortgages unaffordable, says Hamptons

    10 May 2007

    Hamptons International Mortgages says today's interest rate rise to 5.5% will make more mortgages unaffordable.

  • Rate rise will prompt market slow down, says Troika

    10 May 2007

    Troika believes the rate rise to 5.5% will cause a slow down in the market as lenders begin to tighten their scorecards.

  • Rate shock in store for home owners

    8 May 2007

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

  • Rate tarts simply want the best deals

    8 May 2007

    Lenders have developed nasty rhetoric to describe customers who shop around to ensure they pay less for their mortgages.

  • Rates may hit 6%, says Interbay

    10 May 2007

    Interbay says it anticiaptes at least one more rise this year - and warns rates may even hit 6%.

  • Recruitment site launches

    8 May 2007

    A former mortgage adviser will launch an online recruitment service called Glow Recruitment this week, directly aimed at the mortgage and financial advice industries.

  • Releasing equity is all about choices

    8 May 2007

    A recent report from Defaqto suggests the equity release market is becoming increasingly important but that consumer choice and confidence is suffering because of the lack of household names entering the market.

  • Rental growth hits record high, says Paragon

    8 May 2007

    Rental growth is at its highest ever level, research by Paragon Mortgages reveals.

  • Retention strategies can benefit all parties

    8 May 2007

    In considering ways to retain borrowers' loyalty, lenders must ensure that brokers receive the most appropriate form of proc fee, says Justine Tomlinson

  • Retirees face steep fall in income

    8 May 2007

    Workers face a 50% drop in income upon retirement, with many likely to retire on little more than the minimum wage, Fidelity International warns.

  • Rightmove says online HIP training attracks 3,500 agents

    11 May 2007

    Rightmove says over 3,500 estate agents have benefited from its free online training on Home Information Packs.

  • Royal Liver in merger talks

    8 May 2007

    The board of Royal Liver is in talks with Royal London regarding a possible merger. But Royal Liver, parent company of Park Row Associates, emphasises discussions are at an early stage and there can be no certainty that they will progress.

  • Rule change will bring opportunities

    8 May 2007

    At long last, the Treasury and the Financial Services Authority have got together to scrap the 70/10 rule for pure term life cover from June 1 this year. For firms operating under general insurance regulations, this change will bring new opportunities. But before we look at these, let's remind ourselves about the 70/10 rule.

  • Salt unveils revamped B2L deals for brokers

    8 May 2007

    Salt is set to launch several buy-to-let products with revised criteria direct to brokers.

  • Scottish homes face energy checks

    8 May 2007

    New homes in Scotland could be tested for their energy efficiency. Far-reaching new building laws could soon come into force to cut energy emissions from all new-build residential properties in Scotland.By checking for leaks from gaps and cracks in floors, walls, windows and doors, the legislation is intended to cut carbon emissions in the country.

  • Secured loans regulation backed by MS readers

    8 May 2007

    A massive 80% of Mortgage Strategy Online readers think the secured loans sector should be regulated, despite the Consumer Credit Act coming into force between April and May next year. But the remainder of readers don't think regulation is necessary.

  • Secured loans theatre at Expo

    8 May 2007

    This year's Mortgage Business Expo Manchester will include a seminar theatre on the secured loans market. Sponsored by Brilliant Loans, this theatre represents a first for the Expo events.

  • Select & Protect launches interactive website

    9 May 2007

    Select & Protect has launched a fully integrated and interactive website as part of its major repositioning exercise planned for its general insurance product range.

  • Shadow MPC

    8 May 2007

    A week is a long time in politics and a month is an age in the economy. Since the first Mortgage Strategy GE Money Home Lending Shadow Monetary Policy Committee met at the end of March, UK inflation has spiralled. So for the shadow MPC this time, when it comes to interest rates, the only possible way is up.THIS MONTH'S DECISION: +0.25%

  • Sharpen up your act on affordability

    8 May 2007

    Brokers operating in the sub-prime sector should review their procedures when it comes to affordability as the FSA will soon be taking a close look at this, says Frank Eve

  • Should lenders anticipate the market better to avoid having to reprice or pull fixed rates?

    8 May 2007

    There will always be times when rates have to be changed at short notice but experienced lenders can minimise the negative effects of this, say our experts

  • Skipton resuscitates seven and 10-year fixes

    10 May 2007

    Skipton has today relaunched its range of seven and 10-year fixed rate mortgages.

  • Societies are open about their pay arrangements

    8 May 2007

    Kevin Paterson's rant (Mortgage Strategy April 23) against what he believes to be the excessive pay of building soc-ieties' chief executives contains so many errors that it's difficult to know where to begin in countering it.

  • Stephen Knight to leave GMAC-RFC in September

    8 May 2007

    GMAC-RFC's influential leader Stephen Knight shocked the industry last week when he announced he will be leaving the firm in September.

  • Swift unveils instant quote service for brokers

    8 May 2007

    Swift Group has launched an online service for brokers called vSwift.

  • Technology won't replace the experts

    8 May 2007

    The best financial advisers stand apart from the crowd because they are able to communicate their recommendations with confidence and demonstrate the reasons for their choices with aplomb.

  • The dismal future of home ownership

    8 May 2007

    The adkids are coming - a new generation of non-property buyers. In the past, life stages relevant to home ownership included living with mum and dad, buying a home as a married couple, buying a home for a growing family, being an empty-nester then living alone.

  • The Manchester launches tracker

    8 May 2007

    The Manchester has launched a two-year tracker deal. The product is priced at 5.24%, tracking the Bank of England base rate plus 0.75%, with a two-year initial discount of 0.76%. It is available up to 75% LTV.

  • The Mortgage Mole

    8 May 2007

    Digging the dirt in the mortgage world...

  • This Week's Dilemma

    9 May 2007

    I'm an independent financial adviser who has just received a final decision from the Financial Ombudsman Service regarding a mortgage endowment complaint. The complaint has been upheld and redress in line with the Financial Service Authority's RU89 has been recommended. This is the first ruling I've suffered so I'm unsure about what it means and how to go about calculating the right redress figure. Can you tell me what I need to do and in what order?

  • Time to stop the headline rate fixation

    8 May 2007

    So will we see another Bank of England rate rise this week? It certainly looks that way, and as the panic sets in and people rush to protect themselves from the hike, the flood of inquiries about fixed rate mortgages continues.

  • Title Deed - The Mortgage Broker

    9 May 2007

    The Mortgage Broker Ltd previously traded as Richmond House Mortgages and Loans.

  • TMB underwriter joins AToM

    9 May 2007

    All Types of Mortgages has appointed an onsite underwriter from The Mortgage Business.

  • Tony Blair to stand down on June 27

    10 May 2007

    Tony Blair will stand down as Prime Minister on June 27.

  • Trio launch 4.99% two-year tracker

    8 May 2007

    Mortgagebox and Personal Touch Financial Services have teamed up with Abbey to launch a two-year tracker priced at 4.99%.

  • Unity launches £3,000,000 loans

    9 May 2007

    Unity Homeloans has launched a large loan service that can accommodate up to £3,000,000 full status loans

  • Unity launches prime range

    8 May 2007

    Unity Homeloans has launched a prime range of twoand three-year fixed rates and a two-year discounted tracker. The prime range features a £3m maximum advance, 5 x income multiples and no extended tie-ins.

  • US sub-prime downturn hits GMAC

    8 May 2007

    ResCap, the holding company for GMAC-RFC's lending affiliates in the US, posted a $851m loss for Q1 2007 last week.

  • Wales is a buy-to-let hotspot, says Paragon

    8 May 2007

    Paragon Mortgages has pinpointed Wales as the new hotspot for residential property investors in its latest buy-to-let index.

  • We need to register fraudulent brokers

    8 May 2007

    A mortgage broker was recently jailed for conspiracy to defraud after supplying his clients with false details of employment and assets to secure mortgages. This event is unremarkable. The mortgage industry is no different from other areas of business in terms of attracting people who want to take advantage.

  • Whitehall pays for Rightmove data

    8 May 2007

    The government has reportedly paid £4.41m for continued access to Rightmove's database of all homes sold by the website since its launch in 2000. Critics warn this data could be used by the Valuation Office Agency when it revalues Council Tax bands in 2010.

  • Woman's bid to raffle her home ends in court

    8 May 2007

    A woman who tried to raffle her £150,000 home has appeared in court for breaking lottery laws.

  • Would anyone else like to join the queue for my money?

    8 May 2007

    It's that time of year again. The begging bowls are out. The Financial Services Authority, the Financial Ombudsman Service and the Financial Services Compensation Scheme all want paying.

  • Would you lie about your income to get a mortgage?

    8 May 2007

    Self-cert gets a bad rep because of concerns that it allows borrowers to be imaginative about their incomes and borrow more than they can afford. The fact that the Financial Services Authority has investigated self-cert fans the flames of such fears, but worries are only justified if consumers bend the truth.So this week Mortgage Strategy asks...Would you lie about your income to get a mortgage?

  • Young Brits fear inheriting debt

    9 May 2007

    Seven in 10 young Brits most fear inheriting a mountain of debt when their parents pass away, AA Legal Services reveals.

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