Mortgage Strategy
9 April 2007

  • Former footballer becomes BDM

    9 Apr 2007

    High Street Home Loans has appointed two business development managers to its sales team, including former Ipswich Town FC footballer Stuart Niven. The expansion comes following a record year for the Newcastle-based company in 2006, with its lending up by 250% on 2005.

  • NAEA's warning on IHT

    9 Apr 2007

    The National Association of Estate Agents has warned that Inheritance Tax will continue to rise alongside house price inflation. Peter Bolton-King, chief executive of the NAEA, says: "I would urge people to seek advice as to how they can best protect the value of their assets."

  • Reform of best buy tables urged

    9 Apr 2007

    Ecology has urged the Financial Services Authority to make sure that best buy tables reflect the true cost of mortgages. The society says tables are based on introductory rates rather than the true cost of mortgages. It says they should take into account charges and fees.

  • A&L launches PlusMortgage

    9 Apr 2007

    Alliance & Leicester has launched its 100% plus LTV PlusMortgage product into the intermediary market.

  • A&L launches specialist deals

    13 Apr 2007

    Alliance & Leicester has added several new products its range of specialist mortgages.

  • A&L takes B2L lending onto its balance sheet

    9 Apr 2007

    Alliance & Leicester is to take some of its buy-to-let lending onto its own balance sheet.

  • Abbey launches stepped fixes

    10 Apr 2007

    Abbey has launched a stepped fixed rate starting from 2.99% and a two-year tracker with an application fee of £499.

  • Accord expands fixed rate and self-cert range

    11 Apr 2007

    Accord has launched prime fixed rate products and has increased its self-cert range.

  • AHIPP slams HIP "lies"

    10 Apr 2007

    The Association of Home Information Pack Providers has dismissed recent criticisms of HIPs as indefensible lies and "a feeble attempt to misinform the public for private gain".

  • AMI revamps website

    13 Apr 2007

    The Association of Mortgage Intermediaries has unveiled its revamped website with more interactivity and new information to meet its regulatory requirements and help build business.

  • AMI unveils Manchester Expo programme

    10 Apr 2007

    Mortgage Business Expo Manchester has unveiled the full line-up of the Association of Mortgage Intermediaries seminar programme.

  • Appointment at HIP website

    9 Apr 2007

    HIPHIPHooray.com has taken on Home Information Pack specialist Lesley Sorridimi. Active in the industry since 1998, she has worked with Whitehall to deliver training within the HIP trial areas.

  • AToM targets Welsh regions

    9 Apr 2007

    All Types of Mortgages has appointed two regional development managers for the Welsh regions. David Scullard and Kathy Ptak are to join Trevor Rigby who is responsible for the Midlands and the Welsh borders.

  • AToM to host satellite packager conference

    11 Apr 2007

    All Types of Mortgages will be hosting a satellite packager conference on April 26 at its head office in Horsham.

  • B2L is the right fit for a flexible world

    9 Apr 2007

    Buy-to-let's detractors have come up with some intriguing arguments. Their main criticism is that by separating property ownership from use, investors crowd out owner-occupiers, particularly first-time buyers. In other words, investors push up house prices and leave first-timers no chance to get on the housing ladder.

  • BDM of the Week

    9 Apr 2007

    Complete's Christian Rolfe offers us individual attention, is able to prioritise cases and is happy to speak to lenders directly to sort things out, says Patrick Hewson

  • Beacon appoints BDM trio

    9 Apr 2007

    Beacon Homeloans has appointed three business development managers, Sara Packer, Kevin Beale and Craig Clifton. The new BDMs will support Beacon's account manage-ment team.

  • Beacon buys Bananas Inc and MD Nationwide

    13 Apr 2007

    Beacon Group has acquired MD Nationwide and its associated mortgage packager, Bananas Inc. MD Nationwide is a direct to consumer mortgage broker offering remortgages and secured loans to those with impaired credit. It will retain its brand identity and existing intermediary and lender relationships.

  • Beacon offers MS Summit delegates holiday prize draw

    10 Apr 2007

    Specialist sub-prime mortgage lender, Beacon Homeloans, is offering delegates attending the forthcoming Dubai Mortgage Summit the fantastic opportunity of winning a luxury holiday of their choice.

  • BIM launches into sub-prime with Kensington

    10 Apr 2007

    Bank of Ireland Mortgages has expanded into the sub-prime mortgage sector in association with Kensington Mortgages.

  • BM processes application to offer in seven minutes

    10 Apr 2007

    Independently commissioned research from BM Solutions reveals it has a record application to offer time of seven minutes.

  • BM Solutions' B2L cascade deals caused me problems

    9 Apr 2007

    Has anyone had similar experience to me with BM Solutions in relation to its buy-to-let cascade products?

  • BM valuation angers broker

    9 Apr 2007

    A broker has hit out at BM Solutions for allegedly downvaluing his client's rental income.

  • Boom and bust cycle still a threat for housing market

    12 Apr 2007

    A report from independent market analyst Datamonitor has warned that the housing market could still be in the midst of a boom and bust cycle.

  • Bridging loan levels hit two-year high, says Cheval

    9 Apr 2007

    Demand for bridging loans reached a two-year high in March, with applications hitting levels not seen since the scramble in the lead up to regulation, says Cheval Bridging Finance.

  • Bridging loans rise along with bankruptcy levels

    9 Apr 2007

    Bridging lender Affirmative has reported an increase in the use of bridging finance as bankruptcy levels continue to rise.

  • Britannia added to Thinc panel

    9 Apr 2007

    Thinc Group has become the first intermediary to add Britannia to its panel of lenders. Alex Murray, director of mortgages at Thinc, says: "I am delighted Thinc has access to a superb range of products and look forward to working with Britannia."

  • Britons put over half their wealth in property basket

    9 Apr 2007

    More than 50% of the UK's wealth is tied up in housing and this figure looks set to rise further, says Prudential.

  • Brits borrow £360m every day, says Credit Action

    9 Apr 2007

    Credit Action has warned that Britain is a buy now, pay later nation, with UK consumers borrowing £360m every day.

  • Brokers divided over age limits for borrowers

    9 Apr 2007

    Mortgage Strategy Online readers are divided over whether lenders should impose age limits on borrowers. The majority of brokers - 55% - say people of all ages should be eligible for mortgages, while 45% have no problem with ageism.This week Mortgage Strategy asks: "Should commission loaded premiums be stubbed out?" Q: Should lenders impose age limits on mortgages?

  • Brokers support packager route

    9 Apr 2007

    Brokers are embracing the pack-ager market but do not expect significant growth in the sector, says the Intermediary Mortgage Lenders Association.

  • Brown's tax bungle is unlikely to result in compensation

    9 Apr 2007

    It's good to see the truth is out about Gordon Brown's tax raid in 1997 when he abolished the dividend tax credit on pensions.

  • Buyers will fork out 10,000 more for prime location

    11 Apr 2007

    One third of buyers would pay up to 10,000 more for a property in their desired location, research by Halifax Estate Agents reveals.

  • C&G gave poor service on two of my recent cases

    9 Apr 2007

    Having read several brokers' complaints about the service at Cheltenham & Gloucester in Mortgage Strategy in the past few weeks, I'd like to say that I agree with them. I have completed two cases with it in the past month and in both the lender's service was disappointing.

  • Citigroup will axe 17,000 jobs

    12 Apr 2007

    Citigroup has confirmed that it is to axe 17,000 jobs.

  • Click reveals online growth

    10 Apr 2007

    Click has reported an enormous surge in internet-based life cover enquiries as consumers go online for quotes.

  • Commercial First offers brokers service pledge

    9 Apr 2007

    Commercial First has become the first commercial mortgage provider to offer guaranteed service standards to brokers.

  • Consumers can claim up to £48,000 from defaulting firms

    11 Apr 2007

    Consumers can claim compensation of up to £48,000 if they have lost money as a result of their dealings with one of the 42 firms the Financial Services Compensation Scheme recently declared in default.

  • Countrywide accepts Apollo takeover offer

    13 Apr 2007

    Countrywide shareholders have accepted the acquisition offer from Apollo Management.

  • CurriculumVitae: Sharon O'Callaghan

    9 Apr 2007

    Name: Sharon O'Callaghan

  • DB Mortgages appoints BDM

    10 Apr 2007

    DB Mortgages has appointed a business development manager for the Northern Home Counties region.

  • Dear Delia

    9 Apr 2007

    Dear Delia My client Dominic has found a plot of land and has outline planning permission to build a four-bedroom house. The land's purchase price is 185,000 and he has a 5% deposit to put towards it. He also has funds for construction costs and would prefer to stay in his existing property until the work is complete. What are his options?

  • Deposit rules will boost B2L's standing

    9 Apr 2007

    Following the Housing Act 2004, plans were formed to stop unscrupulous landlords and letting agents from cheating private tenants out of their deposits while also providing an unambiguous dispute resolution system through the courts. The fruits of these plans became law on April 6.

  • Derbyshire loosens criteria to help out landlords

    9 Apr 2007

    The Derbyshire has made its criteria more flexible for landlords by introducing a tiered rental calculation and allowing them to top up rental shortfalls with verified income.

  • Dividing networks into three camps

    9 Apr 2007

    It is informative to see what the latest network statistics from the Financial Services Authority's website show on April 2. But I have to start with a warning - bear in mind that the figures may not represent the full picture.

  • DTI's takeover panel gets new powers

    10 Apr 2007

    The Department of Trade Industry’s takeover panel will have new powers as its regulatory activities will be placed on a statutory framework for the first time from tomorrow.

  • Eddie Goldsmith to chair DCA

    12 Apr 2007

    The Direct Conveyancing Association has appointed Eddie Goldsmith, senior partner at Goldsmith Williams, as its chairman.

  • Energy assessors could do EPCs on mobile phones

    9 Apr 2007

    Domestic energy assessors and home inspectors will be able to complete Energy Performance Certificates via their WAP-enabled mobile phones with a system launched by Quest Associates.

  • Energy-assessors.com attacks HIP scaremongering

    11 Apr 2007

    Energy-assessors.com has attacked the scaremongering from anti-Home Information Pack organisations, who it accuses of deliberately feeding inaccurate information to the public.

  • England rugby ace to speak at GHL gala dinner

    9 Apr 2007

    GHL Group has secured former England rugby ace Martin Bayfield (pictured) as the after-dinner speaker at its annual gala dinner on November 22 at the De Vere Belfry.

  • Estate agents are not ready for HIPs

    9 Apr 2007

    Innovative Group Services says 67% of estate agents are not prepared for the introduction of Home Information Packs. It also says there is a 50/50 split between agents who intend to fund HIPs by adding the cost to their commission and those who plan to ask sellers to pay.

  • European directive could hit secured loan rules

    9 Apr 2007

    The Association of Financial Brokers has warned the secured loans industry that European directives may have the final say over its regulation.

  • Exweb integrates with Intelliflo

    11 Apr 2007

    The Exchanges quotation and new business service, Exweb, has been enhanced by integrating with Intelligent Office, the back office system from IntelliFlo.

  • Feature

    9 Apr 2007

    As technology becomes ever more important in the mortgage industry, data standards will make everyone's lives easier, says Paul Pettitt

  • First National tops Pink bestsellers

    13 Apr 2007

    Pink Home Loans has revealed that First National’s first-time buyer plus range has been one of its best selling products in 2007 with sales consistently increasing month on month.

  • FP Advance applauds FSA Retail distribution review

    11 Apr 2007

    Financial services consultancy FP Advance has applauded the Financial Services Authority’s comments on broader remuneration options in its update on the Retail Distribution Review.

  • Freedom unveils self-cert tracker

    9 Apr 2007

    Freedom Lending has launched a three-year self-cert tracker mortgage which is available exclusively via members of Freehold. The product is 5.54% - 0.29% above base rate - to 85% LTV and 5.84% - 0.59% above base rate - to 90% LTV. Free legal fees are available on remortgages.

  • FSA and FOS reject jurisdiction funding reform

    11 Apr 2007

    The Financial Services Authority and the Financial Ombudsman Service have outlined responses to their discussion on sharing the costs of funding compulsory jurisdiction between firms in the future.

  • FSA gets tough with small firms

    13 Apr 2007

    The Financial Services Authority cancelled the permissions of 151 small firms in 2006/07, which failed to meet its minimum standards.

  • FSA has a rethink on insurance

    9 Apr 2007

    As part of its move towards principles-based regulation the FSA is reviewing its approach to general insurance sales and brokers should be aware of its thinking, says Bill Warren

  • FSA offers surgeries in the South

    10 Apr 2007

    The Financial Services Authority is offering financial advisers, mortgage intermediaries and general insurance brokers in Bournemouth, Portsmouth and Southampton free surgeries in May.

  • FSA to focus on sub-prime and lifetime mortgages

    10 Apr 2007

    The Financial Services Authority has revealed the second stage of its review of the effectiveness of its mortgage regime will focus on areas where the risk of consumer detriment may be higher, such as sub-prime and lifetime mortgages.

  • FTBs suffering crisis of confidence, says Homeloan Management

    11 Apr 2007

    First-time buyers are struggling with confidence rather than affordability, says Homeloan Management.

  • GE Life rebranded as Tomorrow

    9 Apr 2007

    GE Life has been rebranded as Tomorrow and will unveil its new look to the market later this week.

  • GHL adds Kensington to secured loan panel

    11 Apr 2007

    GHL Group has added Kensington Secured Loans to its panel of lenders.

  • Gloomy outlook for US sub-prime

    9 Apr 2007

    The US sub-prime market is likely to get worse before it gets better, says the Council of Mortgage Lenders' chief economist Jim Cunningham. But he supports the view of the governor of the Bank of England that UK lenders are not having the same default experience as their US counterparts.

  • GMAC-RFC launches MERC mortgage

    12 Apr 2007

    GMAC-RFC has released a product featuring the UK’s first ever rate/redemption swap.

  • GMAC-RFC portfolio sale to Oakwood nets £923m

    9 Apr 2007

    GMAC-RFC has sold three portfolios to Oakwood Homeloans in a deal worth £923m.

  • Green homes top choice, says Nationwide

    10 Apr 2007

    Nationwide has revealed that the majority of UK homebuyers preferred a house with environmentally friendly features.

  • HBOS aims to be carbon-neutral

    9 Apr 2007

    HBOS says it will be carbon-neutral by the end of 2007. Since 2004, it has reduced carbon by nearly two-thirds through green electricity contracts but in 2007 it will roll out initiatives including a scheme to cut growth in business travel by 50% within 12 months. It will also launch a green mortgage.

  • Help landlords to keep it legal

    9 Apr 2007

    The introduction of houses in multiple occupation licensing creates an opportunity for brokers to help landlord clients stay in the buy-to-let market, and hence retain their business, says Stephanie Spicer

  • High LTV deals give hope to FTBs

    9 Apr 2007

    Competition is hotting up in the high LTV market and this should not be regarded as a bad thing as it might be the only option for some aspiring home owners, says Mark Harris

  • HIP changes make little sense

    9 Apr 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

  • HIP-lite is no cause for complacency

    9 Apr 2007

    No-one can turn a blind eye to Home Information Packs any longer as the rules have finally been formalised and the going live date set for June 1.

  • Home reversion's regulatory boost

    9 Apr 2007

    Home reversions are being plugged as the saviour of equity release.

  • Houses abroad are lucrative but risky

    9 Apr 2007

    Less established foreign property markets offer better potential returns but are more risky, Rightmove Overseas warns. Justin Figgins, head of Rightmove Overseas, says: "When looking for a property in Europe, it is better for buyers to go for a country that is already established in the EU or pending membership."

  • IFS reminder on qualifications

    9 Apr 2007

    The IFS School of Finance has highlighted the need for advisers to get qualified in equity release in light of regulation that came into force last week. Anyone giving advice on the subject must now be qualified.Website monitors client satisfactionA website has been launched to allow advisers to monitor client satisfaction levels and ensure all aspects of Treating Customers Fairly are applied. Judgesmart.com provides monitoring and customer-generation facilities.

  • IMLA calls on packagers to embrace technology

    12 Apr 2007

    The Intermediary Mortgage Lenders Association has called on packagers to follow lenders’ lead and embrace technology.

  • IRS appoints new chief executive

    10 Apr 2007

    In Retirement Services has appointed Daren Carter, the former sales and marketing director of Norwich Union’s equity release business as its chief executive.

  • Is the UK market likely to be affected by troubles in the US sub-prime sector?

    11 Apr 2007

    The consensus is that there are fundamental differences between the US and UK markets, which are anyway at different points in their respective cycles. This makes it unlikely that we will suffer a similar downturn to the one that has blighted sub-prime in the US.

  • It's surprising that brokers still use Paymentshield

    9 Apr 2007

    In Harry Katz's recent letter (Mortgage Strategy April 2) he agrees with Paymentshield cutting off brokers' commission if they leave the industry through ill-health or retire.

  • Kensington confirms acquisition talks

    11 Apr 2007

    Kensington Group says discussions with multiple parties are continuing but admits profits in future years are likely to be below current market estimates.

  • Key workers priced out of 70% of towns, says Halifax

    13 Apr 2007

    Key workers such as nurses and fire fighters cannot afford to live in over two thirds of all towns in the UK.

  • L&C aims to make all deals green

    9 Apr 2007

    London & Country has pledged to plant 50 trees for every new mortgage taken out by its clients in 2007.

  • Landlord portfolios on the up, says Paragon

    10 Apr 2007

    The number of properties in the average landlord’s portfolio has risen since last quarter, research by Paragon Mortgages reveals. In November 2006 the average number of properties owned by a landlord stood at 10.2, a figure which rose by February to 11.1.

  • Learn from the American nightmare

    9 Apr 2007

    The US sub-prime meltdown has implications for the UK, and although the regulator has helped to keep a lid on things, domestic players must still look out for the danger signs, says Frank Eve

  • Leeds unveils 100% LTV deals

    9 Apr 2007

    Leeds has launched a range of three-year fixed rate deals available to 100% LTV. Interest rate options range from 5.79% to 6.59%, depending on the deposits clients have available.

  • Lehman Brothers' appointment

    9 Apr 2007

    Tom Atkins has been appointed head of lending operations secured loans for both the secured lending brands in Lehman Brothers' Mortgage Capital businesses - London Personal Loans and Southern Pacific Personal Loans. Atkins has worked within Lehman's Mortgage Capital businesses since June 2005.

  • Lenders find another protection racket

    9 Apr 2007

    Lenders are up to their old tricks. The latest iniquities are higher lending charges that seem to be applied with a schizophrenic whimsy that only the UK mortgage industry would find acceptable.

  • Let's get punters turned on to offset

    9 Apr 2007

    While offset mortgages are growing in popularity, many people find it hard to quantify the benefits they can offer - annual savings, flexibility and tax benefits to name but three.

  • Lewes family wins green prize

    9 Apr 2007

    A family from Lewes in East Sussex with eight children has scooped an award for their environmentally-friendly home and a prize of £5,000 from Norwich and Peterborough. Aaron Curtis and his wife Raphaella built their home for £300,000. It is now valued at £900,000.

  • Link Lending appoints operations controller

    13 Apr 2007

    Bridging lender Link Lending has appointed Jag Gandhi to the newly-created role of operations controller.

  • London house prices still rising

    9 Apr 2007

    Average London house prices rose for the eighth consecutive month in March, up 1% to £262,989 from £260,375 in February, estate agents haart reveals. It expects activity levels to rise substantially in the run-up to Home Information Packs.

  • Many landlords are unaware of tenancy deposit schemes

    9 Apr 2007

    The Tenancy deposit protection scheme came into force last week amid fears that more needs to be done to raise awareness of it among landlords.

  • Marketwatch

    9 Apr 2007

    Swaps increased for the third week in a row. Since their recent trough on March 15 they are up about 0.25%. Another few weeks of rises of the levels we have seen recently and swaps will be starting at 6%. With two-year swaps above 5.75%, some of the present two-year fixed rates - especially those starting at 4% (but without percentage fees) - look great value.

  • May as well make money out of HIPs

    9 Apr 2007

    March 29 was a big day for those of you who thought Home Information Packs would never happen. This was the date when the government laid its final HIP proposals before Parliament - a major milestone which means HIP regulations are now set in stone.

  • Me & My Car

    9 Apr 2007

    I never thought any car could beat the Nissan Sunny I had when I was 24 but my 5 series BMW comes pretty darned close to being perfect, says Martin Gilsenan

  • MI unveils offset tracker exclusive

    9 Apr 2007

    Mortgage Intelligence is offering an exclusive two-year offset tracker to its members in association with Intelligent Finance.

  • Money Partners completions down 12%

    11 Apr 2007

    Completions at Money Partners were down by 12% in the first three months of Kensington Group's financial year to February 28 2007.

  • Morgan Stanley rumoured to bin Kensington bid

    10 Apr 2007

    Morgan Stanley is rumoured to be close to drawing out of its possible takeover of Kensington Group. The Sunday Telegraph reports that this could leave the specialist mortgage lender with no buyer.According to the Telegraph’s unnamed source, a bid has not yet been entirely ruled out but is unlikely.Kensington has been looking for a buyer since February, when it appointed NM Rothschild to review its strategic options.

  • Morgans enters joint venture with Baydonhill

    10 Apr 2007

    Morgans General Insurance Services, part of the Morgans Group, has entered into a joint venture with financial services provider Baydonhill, to take over its overseas property insurance arm.

  • Mortgage equity withdrawals boom

    9 Apr 2007

    The Bank of England says mortgage equity withdrawals hit a two-year high at the end of last year.

  • MortgageMatch unveils B2L deals

    9 Apr 2007

    MortgageMatch Home Loans has launched two buy-to-let trackers with BM Solutions. The first is 0.26% below the base rate for two years, then base plus 2% for the life of the loan. The second is 0.50% below the base rate for two years, then base plus 1.95%.

  • MPC freezes base rate at 5.25%

    9 Apr 2007

    The Bank of England's Monetary Policy Committee last week voted to hold the base rate at 5.25% for April. Experts are predicting a hike of 25 basis points in May.

  • Mystery lender set for entry

    9 Apr 2007

    A mystery equity release lender is on the cusp of entering the sector, sources say.

  • Nationwide's sound bite mortgage

    9 Apr 2007

    With interest rates having risen by 0.75% over the past 12 months and speculation still bubbling away merrily that there's more to come, conventional wisdom dictates that locking into a fixed rate makes sense.

  • No initial levy for brokers this year, says FSCS

    9 Apr 2007

    The Financial Services Compensation Scheme has revealed there will be no initial levy for mortgage brokers in 2007/08.

  • Northern Rock launches into the sub-prime sector

    9 Apr 2007

    Northern Rock last week became the latest big lender to launch into the sub-prime mortgage market.

  • OEA slams RICS

    13 Apr 2007

    The Ombudsman for Estate Agents has slammed the Royal Institution for Chartered Surveyors for not backing its redress scheme for surveyors.

  • OFT tells buyers to look for its logo

    9 Apr 2007

    The Office of Fair Trading has urged buyers to look out for its logo when choosing estate agents. Those displaying the OFTapproved code logo are members of the Ombudsman for Estate Agents Company, a body whose consumer code has met its standards. These agents are committed to giving clear-cut information about the services they provide, it says.

  • OK, inhouse underwriters can be useful

    9 Apr 2007

    Over the past few weeks, our office has been overrun with new people, different systems and extra desks. The reinforcements are our new inhouse underwriters.

  • Optoma drives home brand with Superbikes

    9 Apr 2007

    Optoma has teamed up with Virgin Media to sponsor the British Superbike Championship, which started last weekend. The packager will be a joint-title sponsor of the Virgin Media Optoma Team at the event. The deal will expose Optoma to millions of fans every week, both trackside and through ITV1's coverage.

  • Optoma offers legal incentive

    9 Apr 2007

    Optoma is offering a legal incentive across Kensington Mortgages' adverse range. Remortgage cases will benefit from free basic legals plus £250 towards purchases' legal costs. But Optoma's chosen solicitors, My Home Move, must be used for the incentive to apply.

  • Packager alliances walk VAT tightrope

    9 Apr 2007

    Why is it that some industry issues never find a resolution - or even seemingly generate any effort to find a resolution? These issues seem so simple to understand but spin and confusion encourage indecision.

  • Packager Power

    9 Apr 2007

    What is the impact on the packager industry of having a minority of women, particularly since the broker market continues to be male-dominated? Should the mortgage industry have more female brokers or doesn't it matter?

  • Packagers embrace technology, says TMB

    13 Apr 2007

    The Mortgage Business has responded to claims that technology is a threat to packagers pointing out that packagers have been some of the biggest users of technology.

  • Pearson joins RBS as another director quits

    9 Apr 2007

    The Royal Bank of Scotland has lost its fourth high profile member of staff in seven months with the resignation of director of intermediary mortgages Caroline Marsh.

  • Pensioners face debt time bomb

    9 Apr 2007

    Key Retirement Solutions has warned that UK pensioners face a £98bn mortgage debt time bomb. One in four people in or nearing retirement could take with them an average mortgage debt of £31,000, says KRS.

  • Pensioners' homes need renovating

    9 Apr 2007

    Around 1.2 million pensioners are living in properties that need renovating, says Economic Lifestyle. The equity release provider says the average cost of repairs is almost £5,000.

  • Pink adds Victoria to packager panel

    9 Apr 2007

    Pink Home Loans has added Victoria Mortgages to its packaging panel. Victoria offers two and three-year fixed and discounted options with no overhang. There is no maximum age affordability-based lending, allowing up to 5 x joint income and true self-cert to 90% LTV for loans up to £250,000.

  • Pink fees-free exclusive from IF

    9 Apr 2007

    Pink Home Loans has launched an exclusive fees-free remortgage deal from Intelligent Finance. It is an offset remortgage deal available up to 90% LTV.

  • Platform appoints IT director

    9 Apr 2007

    Platform has made Mike Gannon director of IT. Reporting directly to managing director David Tweedy, Gannon will take responsibility for developing Platform's IT strategy and technological services. Gannon had been interim director of IT at the lender for nine months.

  • Plus 柠change for sneaky fees

    9 Apr 2007

    After a few weeks messing around with processes, sadly I'm now back to reality. The first target for a moan is Northern Rock and its underhand fees, says Sue Read

  • PMPA extends cashback offer

    9 Apr 2007

    The Professional Mortgage Packagers Alliance has extended the end dates for its £350 cashback offer to customers on Preferred's two and three-year fixed rates. The offer on the two-year fixed rate from 5.39% now runs to June 2009 and the offer on the three-year fixed rate from 5.94% runs to June 2010.

  • PMPA launches exclusive BM deals

    13 Apr 2007

    The Professional Mortgage Packagers Alliance has launched four exclusive products from BM Solutions, all of which are available to brokers on the BM website.

  • PMPA launches tracker through Freedom Lending

    10 Apr 2007

    The Professional Mortgage Packagers Alliance has launched a three-year tracker product from Freedom Lending, available to brokers only through PMPA member packager-distributors.

  • Portman slammed for executive payouts

    9 Apr 2007

    The Portman protest group and Moneyfacts.co.uk have lambasted Portman for a lack of transparency over its merger plans.

  • Prudential board member to step down

    12 Apr 2007

    Prudential has revealed today that Roberto Mendoza will be retiring from its board following the annual general meeting to be held on May 17.

  • Public desire will stop the meltdown

    9 Apr 2007

    What will stop the UK from suffering a US-style housing meltdown? The British public's love affair with house buying, asks Justine Tomlinson

  • Rate rise fear leads to fixed rate bonanza

    10 Apr 2007

    The Council of Mortgage Lenders has revealed that fear that the base rate could rise next month has led to a record take-up of fixed rates among first-time buyers.

  • RBS brochure fails the transparency test

    9 Apr 2007

    For brokers and IFAs to call themselves independent they must be able to search the whole of the market. But it seems promotions by big corporations operate under more lenient rules.

  • Reassurance on energy assessors

    9 Apr 2007

    Energy-assessors. com says there will be more than enough operatives to ensure Energy Performance Certificates can be introduced on June 1. Director Stephen Callaghan says: "We alone will have at least 870 trained assessors by that date - enough to service almost a third of the market."

  • Review your promotional material or pay the price

    9 Apr 2007

    I was interested to read several letters about financial promotions in the March 26 issue of Mortgage Strategy as this has long been a topic close to my heart.

  • Secure a place at MS' latest summit

    9 Apr 2007

    Mortgage Strategy is holding a Secured Lending Summit in Jerez, Spain on June 27 to 29.

  • Secured loans sector is coming of age

    9 Apr 2007

    There was another red letter day on April 6, when the latest instalment of the Consumer Credit Act came into effect.

  • Select & Protect to rebrand

    10 Apr 2007

    Select & Protect has unveiled a new brand and an upcoming wbesite to promote its general insurance proposition.

  • Shared ownership critics miss the point

    9 Apr 2007

    A recent report by the House of Commons' Public Accounts Committee into the government's shared ownership schemes was a missed opportunity to look at how the schemes could be made more attractive. It also failed to recognise the realities of the housing market.

  • Sharia-compliant lender to pull out of broker sector

    9 Apr 2007

    HSBC Amanah UK, the UK's biggest Sharia-compliant finance provider, has re-vealed it is to pull out of the broker market.

  • Smart thinking needed for lenders to stay safe

    9 Apr 2007

    The recent troubles in the US sub-prime mortgage market are a stark reminder of the perils that potentially lie ahead for every mortgage lender and borrower in this country.

  • Spanish government slashes CGT for non-residents

    13 Apr 2007

    The Spanish government has reduced the levels of Capital Gains and withholding Tax on property sales by non-residents to bring it in line with rates charged to residents.

  • Spectrum deals from em-

    9 Apr 2007

    Em-financial has launched two deals on all heavy and unlimited products from the Spectrum range. The deals offer a £300 contribution towards legal fees plus free legals on remortgages in England and Wales.

  • Statistics give differing views of AR trends

    9 Apr 2007

    Two sets of data compiled exclusively for Mortgage Strategy offer contradictory views on whether the appointed representative sector is growing or shrinking.

  • Strong housing market boosts retailers

    9 Apr 2007

    The strong housing market has boosted revenues at Asda, with sales of DIY products and furniture up compared with last year.

  • Stub out greedy commission

    9 Apr 2007

    Mortgage Strategy is calling for the industry to scrap commission loaded premiums on life insurance sold with mortgages in its latest campaign, Stub Out Commission Loaded Premiums.

  • Sub-prime boom can benefit brokers

    9 Apr 2007

    The number of sub-prime clients is likely to grow and this should benefit distributors and brokers who develop their knowledge and expertise in this sector, says Rachel Bancroft

  • Supply shortfall is a hidden blessing

    9 Apr 2007

    It's not looking good - global markets are turbulent and the growth in house prices has slowed. But the gap between housing supply and demand should keep the UK market going, says Sally Laker

  • SWB adds to professional deals

    9 Apr 2007

    Standard Life Bank is extending its professional mortgage range, launching a two-year fixed rate deal with the option of offsetting. It also offers professionals from 16 fields the chance to borrow up to 100% LTV.

  • Swift celebrates record growth

    13 Apr 2007

    Swift Group has revealed a significant rise on completions in 2007 compared to last year’s figures.

  • TCF is a must have in today's market

    9 Apr 2007

    If there is one thing that binds all firms involved in the mortgage industry together, it is our focus on customers. We should never lose sight of the fact that this industry begins and ends with our customers, so it is vital we place their needs at the heart of our work.

  • The battle for high LTVs continues

    9 Apr 2007

    Following what seems like an age of considering the implications of home reversion regulation, now that the implementation date has passed I can return once again to the nitty gritty of the marketplace.

  • The FSA capitulating to PPI providers' demands won't help consumers

    9 Apr 2007

    I've had my fair share of abuse from people fed up with me banging the drum about consumer protection and the raw deal that too many people get when buying payment protection insurance.

  • The Mortgage Mole

    9 Apr 2007

    High-minded

  • Title Deed: Bananas Inc

    9 Apr 2007

    Choosing the name of a new company is always difficult - should you go for something factual, perhaps based on its location or the name of the founder or would it be better you go for something that does not owe much to the company's background but is memorable?

  • TMA launches prime self-cert with TMO and Victoria

    13 Apr 2007

    The Mortgage Alliance has launched an exclusive prime self-cert mortgage through The Mortgage Operation and Victoria Mortgages.

  • TMB makes a record start to 2007

    9 Apr 2007

    The Mortgage Business netted £1.63bn in new business in the first quarter of this year.

  • TMB teams up with TMP

    11 Apr 2007

    The Mortgage Partnership has added an onsite underwriter from The Mortgage Business.

  • Tories fear secret Council Tax-raising plot

    9 Apr 2007

    The Conservative Party has accused Labour Council Tax inspectors of holding secret talks in Hong Kong to plan annual rises in the tax.

  • Two societies join mform.co.uk

    10 Apr 2007

    The Darlington and the Barnsley have become the latest lenders to work directly with online mortgage company mform.co.uk.

  • UCB launches green pack for customers

    10 Apr 2007

    UCB Home Loans is launching a booklet to help customers reduce the size of their carbon footprints.

  • UK is not immune to housing malaise

    9 Apr 2007

    The UK housing market once again seems to be defying widespread expectations of a downturn despite many commentators predicting that it will catch the cold affecting the US sub-prime market. Borrowers and lenders in the US have been defaulting in increasing numbers as plummeting house prices and rising interest rates bite.

  • Unity launches adverse B2L deals

    9 Apr 2007

    Unity Homeloans has launched near prime and light adverse buy-to-let ranges. Both include a pair of two-year fixed rate options with no extended tie-ins. Rent is calculated at the initial charging rate and there is no credit scoring.

  • Waiting for news about the new boys

    9 Apr 2007

    With Q1 2007 over, this is a good time to take stock of the lending landscape. It wasn't so long ago that we were all asking whether the UK market had room for one more competitor, then another, then another. But many new entrants have now been trading for over three months and some are six months old. So how are they getting on?

  • We have to take care of ourselves

    9 Apr 2007

    Us Brits are privileged. Compared with many parts of the world, we have a generous welfare system. Originally designed to provide a safety net for those in short-term crisis or long-term need, over the years it has become a replacement income provider.

  • Would you curb your spending to pay off your mortgage quicker?

    9 Apr 2007

    Research from Intelligent Finance shows that almost three-quarters of borrowers want to reduce their mortgage terms or increase their payments to reduce their balances. But with buyers increasingly stretching themselves to get on the ladder it remains to be seen how feasible such ambitions are.So this week Mortgage Strategy asks...

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