Mortgage Strategy
9 January 2006

  • Banks are the cheapest lenders

    9 Jan 2006

    A survey shows banks held on to the top spots as the cheapest mortgage lenders in 2005, with HSBC and Intelligent Finance offering the cheapest SVR mortgages. But the top five is completed by building societies, with Nationwide, Skipton and Britannia coming in third, fourth and fifth respectively.

  • 2005 ended on a high note, says Bradford & Bingley's Pownall

    9 Jan 2006

    Duncan Pownall, mortgage development manager at Bradford & Bingley, comments on the mortgage market in the last quarter of 2005 and looks ahead to whats in store in 2006.

  • 2005 Saw largest rise in approvals since 1982

    9 Jan 2006

    2005 saw the largest annual increase in mortgage approvals since 1982. Data from the Bank of England shows mortgage approvals in November were 115,000, a 53.3% increase from 75,000 in November 2004. This is the largest annual rise the market has seen since the 63.6% increase in 1982.Milan Khatri, chief economist at RICS, says: "The market was weak at the end 2004 after several interest rate rises and a decrease in activity so this recovery has come from a low level. But it shows ...

  • 29% Increase in AR firms in 2005

    9 Jan 2006

    Merger propels Pink into third place in the network league table while Home of Choice enters the top 10, despite there being no sign of the 500 ARs it claims have joined, says Richard Griffiths

  • 4% Rise is about right, say brokers

    9 Jan 2006

    The vast majority, 69%, of Mortgage Strategy Online readers think the Royal Institution of Chartered Surveyors' prediction that house prices will rise by 4% in 2006 is not an underestimate. Just 31% believe it is an underestimate and that house prices could rise by more.This week, Mortgage Strategy asks: "Do you think the recent departures from HBOS and BM Solutions will have a negative effect on the business?"

  • A big year for the protection market

    9 Jan 2006

    Now we have said goodbye to 2005 let's look back at what the year meant for the protection market and consider what 2006 has in store. It was an interesting year, what with regulation and the review of critical illness insurance. And we saw the need for protection become ever more real with a 27bn savings gap and personal debt topping 1 trillion.

  • A Knight's tale serialised in MS

    9 Jan 2006

    GMAC-RFC executive chairman Stephen Knight has admitted he thought the US lending giant's name sounded "like a bad hand at Scrabble" when he first heard it.Knight makes the revelation in his book Creator and Trader: A vision for growth in the UK mortgage market, extracts from which are exclusively published in Mortgage Strategy over the next four weeks.In the first instalment he recounts his original vision as a lender as well as the first conversation he had with ...

  • A useful plan for action from the FSA

    9 Jan 2006

    Reading the FSA's Better Regulation Action Plan could help those planning to improve their compliance systems to focus more clearly on what the watchdog requires, says Bill Warren

  • AA launches business insurance

    10 Jan 2006

    AA Insurance has launched a range of insurance policies for smaller businesses, underwritten by AXA Insurance.

  • Abbey appoints compliance director

    11 Jan 2006

    Abbey has appointed Alan Brener as compliance director.

  • Accord launches adverse business cascading

    11 Jan 2006

    Accord Mortgages has launched adverse business cascading for credit repair mortgages. Accord will now automatically cascade clients to the products that match their credit history. Additionally, its has reviewed the sub-prime product range for the new year and sharpened the rates on many existing products. Following feedback, a range of fixed rate mortgages starting from 6.10% are also now available.

  • Advantage launches secured loans promotion

    12 Jan 2006

    In anticipation of an increase of secured loans business in 2006, Advantage is offering enhanced procuration fee premiums of up to 200 on selected heavy adverse cases for online enquiries.

  • Aiming for better value valuations

    9 Jan 2006

    While there will always be a certain amount of manual work involved, firms are now realising process efficiencies by making innovative use of IT in the valuation process, says Frank Eve

  • AMI welcomes FSA decision on proc fees

    10 Jan 2006

    The Association of Mortgage Intermediaries has welcomed news that the Financial Services Authority has agreed to a concession in the way in which client money rules are applied to procuration fee monies, which firms rebate to a client. This arrangement will remain in place until the FSA finds a longer term solution. AMI is pleased that the FSA consider it disproportionately onerous to apply the full rigour of the client money rules to those situations where the fee agreement ...

  • An A to Z guide to 2006

    9 Jan 2006

    A is for Abbey which defied cynics such as I and really turned things around in 2005. More of the same please. A is also for affordability models - clearly the way forward in a market with contracting elasticity. But why can't the sourcing systems at least begin to embrace the need for lenders' formulae to be universally available to members?G is for GMAC-RFC and Griffiths , both brave and innovative practitioners in their fields. The former will surely cement its place as a top ...

  • Average house price for December down 4.0%, says SmartNewHomes.com

    9 Jan 2006

    The average price of a new home in the UK in December 2005 was 255,713, which is down 4.0% since the same time last year completing nine consecutive months of annual decreases.

  • B&W changes

    9 Jan 2006

    Bristol & West Mortgages has made several changes to its self-cert range, cutting rates on all 75% and 85% LTV fixed and discounted products. It is offering a number of three-year fixed rates from 4.99% up to 75% LTV, and three-year discounted rates from 5.19%, variable up to 75% LTV.

  • Bank of England holds interest rate at 4.5%

    12 Jan 2006

    The Bank of England has frozen the interest rate at 4.5%. This is the fifth month in a row that the rate has remained unchanged.

  • Bank of England will be reluctant to change rate stance, says CBI

    12 Jan 2006

    The Bank of Enlgand will be reluctant to change its stance on interest rates until the impact of rising energy prices and wage setting behaviour become clearer, says the Confederation of British Industry.

  • Bargain hunting

    9 Jan 2006

    It's not only high street shops that are having sales at this time of year, there are mortgage bargains to be found too, says Mira Butterworth

  • BBC warned about FTB show

    9 Jan 2006

    Industry experts are warning the BBC to be cautious after it announced it is producing a programme which is a cross between Blind Date and Big Brother with the added twist that contestants will be buying a house.The programme, named Come Buy With Me, will focus on stories of first-time buyers entering into co-buying deals. Producers are looking for young professionals who would consider going into a co-buying partnership but have not met the right person.James ...

  • BoE unit sign of loss of faith in ONS

    11 Jan 2006

    The Bank of England has reportedly set up a unit to produce its own economic figures, a move that further undermines the reliability of official statistics.

  • Bolton looks to Oakwood consultancy role

    9 Jan 2006

    Michael Bolton is poised to begin consultancy work with The Oakwood Group after his three-month gardening leave with HBOS came to an end last week.

  • Bray leaves SecureMove for Specialist Xpress

    12 Jan 2006

    Peter Bray, former managing director of SecureMove Property Services, has joined the board of Specialist Xpress, a provider of specialist reports for UK home buyers, as chief executive.

  • Brokers can help their clients avoid bankruptcy

    9 Jan 2006

    With as many as 20,000 personal insolvencies expected in the first three months of 2006, brokers are being urged to help clients with unmanageable fin-ances find a way out of debt.Figures from personal insolvency practice Grant Thornton and Personal Touch Debt Advisory Service indicate Britons are in debt to the tune of 1.13trillion, with Citizens Advice Bureau reporting one million new cases per year. Up to 66,000 people are predicted to go bankrupt this year, with the Christmas ...

  • BuildStore launches ASU cover for self builders

    11 Jan 2006

    BuildStore, the UKs self build specialist, has teamed up with general insurance provider D&D Homecare to provide self builders and renovators with a phased cover accident sickness and unemployment policy that can be bought alongside BuildStores self build mortgages.

  • Capita acquires Webline

    13 Jan 2006

    Capita has acquired Webline, an independent company which is a major provider of online quotation and fulfillment services to the UK insurance and investment sectors, for an undisclosed sum.

  • Chartered surveyor becomes calendar boy for charity

    13 Jan 2006

    David Wright, a chartered surveyor from Bolton has become a calendar boy to raise money for the battle against HIV/Aids in Africa.

  • CHL says niche lenders advancing

    9 Jan 2006

    Capital Home Loans says its 11% increase in sales in 2005 shows niche lenders are winning market share at the expense of volume operators.Bob Young, managing director of CHL, says: "If you take into account the fact that the overall mortgage market stagnated during 2005, performing 11% better suggests we are markedly ahead of some others whose market share fell."The winners over the past year have been the niche lenders, such as ourselves, who have been able to provide brokers ...

  • CII introduces job role and competency framework

    13 Jan 2006

    The Chartered Insurance Institute has introduced a job role and competency framework to support all those working in the insurance market.

  • Clarifying some points on Preferred website review

    9 Jan 2006

    From Sam Hallet I was pleased to see the review of the Preferred website in your Internet Insite column on December 12 . Unfortunately the review featured two incorrect statements, which could prove misleading:1) 'As Preferred principally deals with packagers...' In fact, we work with packagers and brokers/IFAs, and welcome applications from both. 2) '... it expects to have its cases packaged'. This isn't true as we accept packaged and unpackaged cases and are happy to package ...

  • Clear advantages of title insurance

    9 Jan 2006

    Title insurance policies can help specialist lenders demonstrate the robustness of their business model in a cooler economic climate if their clarity is improved, says Alan Smith

  • Clydesdale deals

    9 Jan 2006

    Clydesdale Bank has launched an offset product range which includes a 4.90% offset tracker mortgage for professionals with an annual income of at least 60,000, available via its broker partners.The products include a residential professionals offset lifetime tracker at 4.90%, a residential offset tracker until March 31 2008 at 4.79%, a residential offset lifetime tracker at 4.94%, and a residential offset capped tracker at 4.99%.

  • CML welcomes consumer debt test

    11 Jan 2006

    The Council of Mortgage Lenders welcomes the launch of an online 'debt test' helping consumers keep control of their borrowing and take action if they encounter problems. The CML worked closely with the Financial Services Authority in developing the test and chaired the borrowing working group under the FSA's strategy for improving the financial capability of consumers.

  • Cobalt launches Cobalt Commercial Finance

    12 Jan 2006

    Following its recent merger with Chelsea Mortgage Management, Cobalt Capital has launched Cobalt Commercial Finance. Based in the companys Knightsbridge office, the division will arrange property, commercial and business loans ranging from 500,000 to 50m and beyond.

  • Comments please on my dispute with network

    9 Jan 2006

    From William Watt I would welcome comments on the following case which remains unresolved between me and a network which shall remain nameless. Prior to regulation I was an appointed agent for a network as a mortgage adviser. I am now an appointed representative with Network Data. Before regulation I completed two mortgage applications for Northern Rock mortgages and on these ticked the box allowing NR to get in touch with the clients to discuss mortgage payment protection ...

  • Commercial marketing tool is a hit

    9 Jan 2006

    Commercial First reached a milestone last week with its marketing tool box having produced 350 campaigns and 1,000 bespoke marketing items for brokers.The marketing tool box, launched in May 2005, is designed for commercial mortgage brokers who wish to generate more business and for residential mortgage brokers wishing to expand their activities to include some commercial mortgage sales.It consists of a number of templates for marketing material which brokers can personalise ...

  • Companies lining up to exhibit at Homebuyer Show 2006

    9 Jan 2006

    Estate agents, developers and other property related companies across the UK keen to network with industry experts should join the long list of exhibitors already signed up to The Homebuyer Show 2006.

  • Construction orders rose 10% in 2005

    12 Jan 2006

    Construction orders in the year to November 2005 rose by 10% compared to orders in the previous 12 months period, and orders in the three months to November 2005 rose by 20% compared to the same period a year earlier.

  • Consumer confidence falls, says Nationwide

    11 Jan 2006

    In December the Nationwide Consumer Confidence Index fell back by 5 points after a record 9 point rise in November. While peoples overall confidence levels are above the lows recorded in the Autumn, a three month rolling average suggests that the steady decline in confidence seen since the Spring may now be bottoming out.

  • Consumer debt test launched

    11 Jan 2006

    An online debt test has been launched to help consumers keep control of their borrowing and to take action in the event of problems. It was developed jointly by the Financial Services Authority, the BBC and credit rating agency Experian.

  • Continue working on continuity plans

    9 Jan 2006

    Just before Christmas, the Financial Services Authority published the Tripartite Authorities' assessment of how the UK's financial services sector could cope with major disruptions such as a terrorist attack or a natural disaster.

  • Creative thinking

    9 Jan 2006

    In the first of four extracts from his book, Creator and Trader: A Vision for Growth in the UK Mortgage Market, Stephen Knight reflects on the strategy behind the growth of GMAC-RFC

  • Curriculum Vitae - Frances Scanlan

    9 Jan 2006

    "I like competing in horse trials, training my gun dogs and skiing"

  • Dear Delia

    9 Jan 2006

    Dear Delia One of my clients, who lives in Norfolk, would like to build an environmentally friendly home and use a green mortgage deal for finance. They would like to know whether this is possible and if so what assistance is available and what is the best approach to take. What advice can you offer?

  • Divorce adversely affects 10% of credit ratings

    10 Jan 2006

  • Don't discount offset, says moneyfacts.co.uk

    11 Jan 2006

    Although borrowers' current financial circumstances may prevent you from taking advantage of offset or current account mortgages, they shouldn't dismiss them completely, as with professional financial planning, they may still prove to be a beneficial option to consider, says moneyfacts.co.uk.

  • Don't focus only on income aspects of self-cert selling

    9 Jan 2006

    From Michael Norwood So, still more hysteria about self-cert mortgages. I thought I'd add a few provocative observations of my own. Firstly, does anyone know how many convictions have actually happened as a result of an applicant putting down a higher income figure on a mortgage application? And on the subject of income, we all know that the income, while important, is not the only criteria used by a lender. Therefore, if we are to regard inaccuracy regarding income as potential ...

  • Easier2Move joins AHIPPS

    9 Jan 2006

    Easier2Move, the online conveyancer, has been appointed as a full member of the Association of Home Information Pack Providers.

  • Equity release will fund 45% of consumers' retirement, says KRS

    9 Jan 2006

    New research from Key Retirement Solutions has revealed that 45% of consumers say that equity release will partially fund their retirement.

  • Ex-PMPA members to set up rival organisation

    13 Jan 2006

    At least 11 members are to the leave The Professional Mortgage Packagers Alliance and set up their own association called provisionally the Association of Mortgage Packagers and Distributors.

  • Feel good forecast for private rented sector, says Orchard & Shipman

    11 Jan 2006

    It is a feel good forecast for 2006 both for the private rented sector and the future funding and management of social housing. That is the view of property services and social housing group Orchard & Shipman plc. The group operates in west London, the Thames Valley and Edinburgh.

  • Financial Services Scotland to be held in Glasgow

    11 Jan 2006

    Two of the UKs leading events, Mortgage Business Expo and Money Marketing Live, are brought under one roof for Financial Services Scotland on March 2 2006 at the SECC Glasgow.

  • Firms could save money with electronic ID verification, says Callcredit

    13 Jan 2006

    Credit reference agency Callcredit says UK businesses that are still verifying customer identities by manually checking documents such as passports and driving licences, could save millions of pounds by switching to a system of electronic ID verification.

  • Flexible must not mean complicated

    9 Jan 2006

    2005 provided us all with great opportunities and challenges and, though the numbers are still being counted, it should have been good year for the equity release business.

  • Free holiday homes in France due to interest-only mortgages

    10 Jan 2006

    The introduction of French interest-only mortgages for leaseback properties in France means investors can now earn enough guaranteed rental income to more than cover the mortgage cost, effectively giving them a free holiday home, says Assetz.

  • Fresh approach

    9 Jan 2006

    Moneyquest chairman Angus McSween is an industry outsider looking to take a fresh approach to the broking business, says Barney McCarthy

  • FSA bars IFA

    9 Jan 2006

    The Financial Services Authority has barred independent financial adviser Theophilus Folagbade Sonaike, trading as FT Insurance Services, from being authorised to carry out regulated activities. The FSA has taken action after being informed in November 2004 of Sonaike's convictions for housing benefit fraud.

  • FSA reflects on its work in lifetime mortgages

    9 Jan 2006

    The Financial Services Authority has outlined its work on the lifetime mortgages sector following the recent report by Which? magazine.

  • FSA responds to Guardian fine

    12 Jan 2006

    The Financial Services Authority has fined Guardian 750,000 in respect of the approach to endowment complaints handling processes for Guardian Assurance and Guardian Linked Life during the period January 2003 December 2004.

  • GE unveils promotional offer on three-year deal

    9 Jan 2006

    GE Money Home Lending is launching a promotional offer on its First National three-year fixed rate near-prime product from January 12 to February 10.The product has an initial rate of 5.49% fixed until 2009 up to 85% LTV and is designed to meet the needs of consumers who wish to remortgage or consolidate debt so they can reduce their outgoings.Gerry Bell, head of mortgage marketing at GE Money, says: "For customers with some minor credit problems this represents a great value ...

  • Give me a nice, quiet scandal any day

    9 Jan 2006

    Thank goodness it's over. As if four days of gastronomic excess weren't enough this year we played host to the relative from hell. As he lives abroad and was lamenting the prospect of a lonely Christmas, we invited an elderly cousin to join us - it seemed the right seasonal thing to do. "Why not spend Christmas in England, with us?" I'd said. Big mistake.

  • GMAC-RFC completes buyout

    9 Jan 2006

    GMAC-RFC has acquired the remaining 60% of National Guarantee for an undisclosed sum. GMAC-RFC now owns 100% of the company. GMAC RFC's acquisition of this remaining stake will enable National Guarantee to fulfil its ambition to significantly grow the business, while allowing GMAC-RFC further exposure to the business-to-consumer market in this country. National Guarantee will continue under its existing brand, bringing the product range offered by GMAC-RFC's mortgage lending business ...

  • GMAC-RFC falls victim to 207,000 bogus ID fraud

    9 Jan 2006

    GMAC-RFC has fallen victim to fraud after bogus identification documents allowed a man to borrow 207,000 from it.After moving into a rented house in Brighton the fraudster, calling himself Andrew Manning, used a falsified driving licence and utility bill addressed to the owner to apply for a remortgage with the lender.Manning had already applied for a 294,000 mortgage with Cheltenham & Gloucester on the house but was refused after the lender became suspicious of him.But ...

  • GMAC-RFC promotions

    9 Jan 2006

    GMAC-RFC has promoted Rob Green to director of sales, Roger Brown to director of its packager division and Jeff Knight to director of marketing.

  • Good lender BDMs really are worth their weight in gold

    9 Jan 2006

    From Alfie Cooper In light of the continuing tales of poor service from lenders which air on your letters pages, I want to express my thanks to my BDM at Alliance & Leicester, Phil Convery. As a sole trader, I appreciate his support and knowledge, and he is always prompt to return calls and answer queries at any time. Hopefully Alliance & Leicester recognises the sterling service Phil is providing to intermediaries like myself here in Northern Ireland and other lenders will ...

  • Government promotes culture of repsect

    10 Jan 2006

    Police and local authorities will have tough powers to deal with families who blight communities with unacceptable behaviour, according to the governments Respect Action Plan, launched today.

  • Gross mortgage lending rose by 5% in November

    9 Jan 2006

    Gross mortgage lending rose by 5% to an estimated 28.5bn in November, figures from the Council of Mortgage Lenders show.This was the second highest monthly lending figure on record, 1% lower than the 28.9bn of lending in July 2004 but 30% higher than the 21.7bn of lending last November.Lending activity usually slows towards the end of the year so November's increase indicates a robust underlying picture. The strength in lending continues to reflect the recovery in housing market ...

  • Guardian Assurance and Guardian Linked Life Assurance fined by the FSA

    12 Jan 2006

    The Financial Services Authority has fined Guardian Assurance and Guardian Linked Life Assurance Limited 750,000 for serious systemic flaws in its mortgage endowment complaints handling procedures and for not drawing the problems to the attention of the regulator.

  • HML restructures management team

    10 Jan 2006

    Following a review of roles and responsibilities, Homeloan Management has streamlined its senior management team.

  • Home insurance premiums remain static

    10 Jan 2006

    AA Insurances says premiums for home insurance remained static over Q4 of 2005, following small increases during Q3.

  • Home of Choice teams up with Connells

    13 Jan 2006

    Home of Choice has joined forces with Connells Survey & Valuation. This strategic move is seen by many as a reflection of the strength and reputation that Home of Choice has built up since it began in June 2005.

  • Homeowners should consider their options, says moneysupermarket.com

    10 Jan 2006

    Moneysupermarket.com is urging homeowners to sort out their finances, starting with their biggest financial commitment their mortgage debt.

  • Hornby to take over as CEO of HBOS

    9 Jan 2006

    HBOS HAS GOT ITSELF one of the youngest CEOs in the FTSE 100 last week as 38 year old Andy Hornby, the group's chief operating officer, was crowned head of the UK's biggest lender.He will replace 49 year old James Crosby, taking over as CEO on July 31 when Crosby leaves the group. In the meantime, Crosby and Hornby will work closely together to ensure an orderly handover.In 1999, Hornby was recruited by Crosby to Halifax and joined the board as chief executive of Halifax Retail, ...

  • House price growth accelerates, says Nationwide

    10 Jan 2006

    House price growth in the UK accelerated in the final quarter of 2005, says Nationwide.

  • House prices likely to remain firm, says CML

    12 Jan 2006

    The Bank of England left its Bank base rate unchanged at 4.5% in January.

  • House prices rise by 1% to 171,000 in December, says Halifax

    9 Jan 2006

    The latest Halifax House Price Index shows that house prices increased by 1% in December to 171,000.

  • HSBC comments on Virgin cancer cover

    11 Jan 2006

    HSBC is in favour of anything that raises awareness of the need for adequate financial protection against critical illness.

  • Industry bodies address B2L valuation concerns

    9 Jan 2006

    The Council of Mortgage Lenders says it is in talks with the Royal Institute of Chartered Surveyors to address concerns over bogus new-build buy-to-let valuations, as industry confidence in new-build continues to falter.It follows Portman subsidiary The Mortgage Works' decision before Christmas not to lend on new-build properties as a result of concerns that some developers are doing deals on the price of the property outside the formal contract.This has led some in the industry ...

  • Infinity launches traker with no redemption overhang

    13 Jan 2006

    Infinity Mortgages has launched a two-year tracker deal with no redemption overhang. Infinity has also increased the allowable builder deposit to 15%.

  • Institutional investors should look into Europe, says SWIP

    9 Jan 2006

    Scottish Widows Investment Partnership suggests institutional investors should have a look outside their national borders and diversify their portfolios Europe-wide.

  • Insurers still struggling with GI Day, says Huntswood

    9 Jan 2006

    Insurers are continuing to find regulation a struggle a year on from general insurance day, says Huntswood. Huntswoods poll of insurers reveals that a fifth (22%) of insurers are most anxious about the issue of training and competence, just under a fifth (19%) stated that suitability of advice caused them most discomfort and one in six stated that treating customers fairly caused them anxiety.

  • Internet Insite

    9 Jan 2006

    Mortgage Strategy's weekly guide to what's hot and what's not on the web. Kevin Paterson takes a look at lender websites, working his way from A to Z

  • IT is only as good as those who use it

    9 Jan 2006

    Technology is fine but more emphasis must be placed on training and after sales service so that brokers can make the most of the benefits it has to offer, says Payam Azadi

  • It was Scotland's year for house prices

    9 Jan 2006

    It's no longer grim up North, not in terms of house prices and buy-to-let anyway. When I say it's been Scotland's year, obviously I'm not talking football, but house prices.

  • Kensington launches True Cost Calculator

    13 Jan 2006

    Kensington Mortgages has launched the True Cost Calculator on its website as an aid to intermediaries to help them assess the true cost to a borrower of a mortgage product with a higher lending charge.

  • Keypoint will follow up case highlighted in letter to MS

    9 Jan 2006

    From Miles Bentley I am writing in response to the letter that you published in your December 12 issue from Peter French. Keypoint Endowment Claims run a marketing campaign to inform people who may have been mis-sold an endowment policy and could be entitled to compensation. One element of that marketing campaign is direct mail. Keypoint profiles the client base that have already received compensation and maps this to similar postcodes. It then purchases mailing lists from ...

  • KMC denies commercial move

    9 Jan 2006

    Kensington Mortgages has rebuffed rumours that it is looking to support a big move into commercial mortgages by lifting a management team from one of its competitors.Mortgage Strategy has heard from an industry insider that a move into this blossoming market is top of the lender's to-do list for 2006. It is also suggested that Kensington will ensure a smooth transition by poaching experts from an unnamed rival. Alison Hutchinson, director of Kensington, says: "We have no ...

  • Lenders' questions can be puzzling

    9 Jan 2006

    Some lenders ask minimal questions when brokers phone for a KFI whereas others ask so many it makes you wonder in what ways they intend to use this information, says Sue Read

  • Llewellyn-Slade PR launches MediaAlert

    11 Jan 2006

    A free email-based public relations service called MediaAlert has been launched for brokers, IFAs and financial services organisations by Llewellyn-Slade PR. The service is designed to make PR accessible to all by keeping subscribers aware of specific opportunities for editorial coverage in the national and trade press, television, radio and online in order to raise their profile and enhance their reputation, as and when these opportunities arise.

  • Make money from currency link-up

    9 Jan 2006

    Mortgage brokers are being offered the opportunity to team up with foreign currency specialist Moneycorp to earn generous commissions on client referrals and add value to their existing product portfolio. Any mortgage clients referred to Moneycorp who subsequently utilise the company's range of foreign exchange services, will result in commission being paid directly to the broker or the broker's firm.

  • Market Watch

    9 Jan 2006

    Swap rates plunged over the Christmas break. I'm sure this will lead to lenders cutting their fixed rates. Hopefully we will also soon see the January sales in the mortgage market as lenders fight to start the new year with a bang.

  • Members leave PMPA

    13 Jan 2006

    The Professional Mortgage Packagers Alliance has revealed that some of its members have decided to leave the group.

  • MEX increases income multiples and LTV bands

    10 Jan 2006

    Mortgage Express has made a number of significant changes to its key product criteria including changes to income multiples and increased LTV bands.

  • Minerva launches partnership with Standard Life

    11 Jan 2006

    Following a successful pilot, Minerva, the people development consultants, has entered into a partnership with Standard Life Bank.

  • Money Advice Scotland welcomes consumer debt test

    11 Jan 2006

    Money Advice Scotland welcomes the launch of the Debt Test as a major weapon in the battle against the UKs ever increasing debt problems.

  • Money Partners reduces fixed rates

    12 Jan 2006

    Specialist lender Money Partners made rate reductions on its two and three year fixed rate origin mortgage products.

  • More Than issues flood warning

    9 Jan 2006

    One year on from the Carlisle floods, More Than is warning action is needed to prevent similar incidents. The floods in Carlisle in January 2005 were the worst for over 100 years.Five million people are at risk of flooding in the UK, of which 1.5 million are at high risk. Climate change could cause the number of people at high risk to rise to 3.5 million.

  • More women registering for IFS certificate

    9 Jan 2006

    On the first anniversary of the introduction of statutory general insurance regulation, the Institute of Financial Services has had record numbers of women registering for its Certificate in Regulated General Insurance.

  • Mortgage Next offers low cost valuations on packaged cases

    11 Jan 2006

    Mortgage Next Network and Mortgage Next Partners are offering a low cost valuations deal on all packaged cases submitted up to the March 31.

  • Mortgage Promotions asks Special Risks Bureau to service members' needs

    12 Jan 2006

    Mortgage Promotions has chosen the Special Risks Bureau to service the needs of its 1,500 member companies all of whom are Financial Services Authority regulated mortgage advisers. The membership is drawn from independent financial advisers, tied agents, mortgage brokers, accountants, estate agents and solicitors. The philosophy of Mortgage Promotions is based on independence and choice. Registered firms retain their own FSA registration, and responsibility for the advice to the ...

  • MPPI opportunity

    9 Jan 2006

    Mortgage payment protection insurance is becoming ever more important to home buyers and brokers are well placed to sell it, says Graham Boulger

  • MS should steer clear of party political comment

    9 Jan 2006

    From Craig Douglas I read with concern the editorial in Mortgage Strategy December 12 entitled 'SIPPs fiasco shows incompetence'. While I agree with the general sentiment of the article, I do not think it is the place of Mortgage Strategy to be asking for a change of government. The result of the election was by the will of the people (OK, 36% of them) and not a matter for Mortgage Strategy. Your publication should be apolitical and stick to mortgage news and issues and leave political ...

  • Muslims will have more options as market grows

    9 Jan 2006

    Muslims will have access to more financial products that are compliant with Islamic law as the market grows, says Bank of Ireland UK Financial Services.A number of lenders already offer a variety of home finance and current account products that are compliant with Sharia, Islamic law, which prohibits interest.BoI, which owns Bristol & West, offers Sharia-compliant products under its Alburaq range, and developed it to include a residential home finance proposition with the Arab ...

  • NAEA in talks about HIP insurance

    9 Jan 2006

    The National Association of Estate Agents is in discussions with several undisclosed insurance companies about the provision of insurance products for the Home Information Packs market.Peter Bolton King, chief executive of the NAEA, says: "The unpredictability of selling property means there is potential for sellers to lose money on their packs. Draft regulations stipulate that most of the HIP documents must be up-to- date at the first point of marketing."But if a property is ...

  • Nationwide launches lifetime tracker product

    9 Jan 2006

    From Tuesday January 10, Nationwide is launching a mortgage product that promises borrowers to be a hassle-free tracker mortgage for life.

  • Network Data sets up HIP provider

    9 Jan 2006

    Network Data Holdings Group has set up a Home Information Pack provider named Hipstar.Chief executive Stephen Maskens is heading the provider and says it plans to use Network Data as a distribution channel.Maskens, who is a former director of MGM Assurance, says: "One of Network Data's strengths is the way it deals with small companies. We have 800 staff selling through Network Data and a lot of them have good estate agency experience."Network Surveyors and Network Conveyancers ...

  • New deals hark back to bad old days

    9 Jan 2006

    In trying to avoid the usual look ahead to what 2006 will bring I will focus more on what the market is doing right now.

  • New Star Property Unit Trust adopts new Collective Investment Scheme rules

    12 Jan 2006

    New Star has successfully completed the conversion of the New Star Property Unit Trust to adopt new Collective Investment Scheme rules.

  • Non-status lenders make their mark

    9 Jan 2006

    Most commercial lenders place great emphasis on the financial strengths or weaknesses of a client when making lending decisions on commercial mortgage proposals. But over the past couple of years, the commercial mortgage market has seen a revolution.

  • NU hits back after Which? brands ads irresponsible

    9 Jan 2006

    Norwich Union has hit back at claims that the advertising of its equity release products is irresponsible, and reiterated its call for regulation.A report by consumer watchdog Which? slammed equity release products as expensive and inflexible and brands Norwich Union's advertising - that suggests a holiday could be bought with the equity released - as irresponsible.David Gwyer, media relations manager for NU, says: "We're disappointed with Which?, particularly its views about ...

  • Overwhelming response to CII's chartered title

    13 Jan 2006

    Industry support for the Chartered Insurance Institutes Chartered Financial Planner title has been overwhelming with 539 people being awarded the title within the first month of its availability.

  • Paymentshield launches updated website

    9 Jan 2006

    Paymentshield has launched its updated and improved website www.paymentshield.co.uk.

  • Personal finance qualifications for 14 to 16 year olds

    10 Jan 2006

    Schools and colleges can sign up to two personal finance qualifications aimed at 14 to 16 year olds, following a successful pilot by the Institute of Financial Services.

  • Platform appoints Louise Young

    11 Jan 2006

    Platform has strengthened its business development team with the appointment of Louise Young.

  • Poll reveals 50% of consumers have unsecured debts over 10,000

    10 Jan 2006

    The Moneyfacts.co.uk December poll reveals that 47% of consumers have unsecured lending that totals more than 10,000.

  • Portman adds broker deals to core range

    9 Jan 2006

    Portman is adding two intermediary mortgages to its core mortgage range from today.Its two-year fixed rate at 4.30% will now be available to intermediaries, fixed until January 31 2008.As well as a new fixed with tracker product exclusive to brokers and aimed at borrowers looking to take out a three-year product with a low starting rate fixed for two years, then base rate plus 1% for the third year.Fixed at the low rate of 3.99% until January 31 2008, the tracker rate of ...

  • Portman adds two intermediary mortgages to core range

    10 Jan 2006

    Portman has adding two new intermediary mortgages to its core mortgage range both of which offer highly competitive interest rates.

  • Prescott homes plan lacks support

    9 Jan 2006

    Deputy prime minister John Prescott's plans to build one million affordable houses in England suffered a blow last week after a report showed the houses may fail to attract buyers.The report by The Institute of Public Policy Research highlights concerns about the Thames Gateway development and says the homes may lack community support and local public services, and cites racism and the negative attitudes of current residents as just two of the problems.It says: "The most troubling ...

  • Prescott's council tax paid with public funds

    12 Jan 2006

    Over 3,000 worth of taxpayers money has been used to pay John Prescotts council tax bill. A total of 3,830.53 in public money has been used since 1997 to pay tax on one of the deputy prime ministers official homes, a flat at Admiralty House near Trafalgar Square in London. In a Commons answer, John Prescott apologized for the inadvertent error and claimed it was a genuine misunderstanding. He will now have to repay the money to the public purse.

  • Private equity fund RJD Partners takes 51% majority stake in LMS

    10 Jan 2006

    Private equity fund RJD Partners has secured a majority stake in conveyancer LMS Holdings.

  • Property investors advised to go east

    9 Jan 2006

    Spain might be the most popular place for Brits to buy abroad, but experts say Romania is the top spot for lucrative property investors to buy.

  • Rate drop is unavoidable, says SmartNewHomes.com

    12 Jan 2006

    UK house prices may be coming out of the doldrums of 2005, says SmartNewHomes.com. Dave Bexon, managing director of SmartNewHomes.com, says: Unless the Bank of England sees fit to cut interest rates by at least a quarter of a per cent in the early months of 2006, the market will be making a hasty return to inactivity and stagnation. Mixed reports of consumer spending levels over Christmas and into the New Year have done little to bolster confidence in the countrys economy ...

  • Regulation back on agenda

    9 Jan 2006

    The action last year against directors at estate agency Countrywide North by the Office of Fair Trading has reignited debate over the need for statuary regulation of the industry.The OFT took action against Mairi Eckford, managing director, Michael Miller, sales director, and Stuart Black, ex-area manager of the Scottish subsidiary of Countrywide plc after they failed to disclose personal interests in new-build properties they had bought and were selling via Countrywide.They ...

  • REITs market uncertain, says Merrill Lynch

    9 Jan 2006

    Merrill Lynch predicts uncertainty in the Real Estate Investment Trust market for 2006. In its report UK Real Estate Year Ahead, it says after a strong sector performance in the last three months (up 20% since the October low), it is taking a more cautious view near term.

  • Retirement Plus relaunches website with live case tracking

    9 Jan 2006

    Home reversion provider Retirement Plus has relaunched its website, with a new facility to allow IFAs to track property plan cases live. Case tracking is just one of many services available through the Retirement Plus website, www.retirement-plus.co.uk.

  • Rising property prices encourage Brits to France, says VEF

    12 Jan 2006

    Increasing property prices in France are encouraging more Brits to move to the Eurpoean country.

  • Salt responds to interest rate hold

    12 Jan 2006

    The Bank of England's Monetary Policy Committees decision to leave rates on hold for January is welcome news, says Salt. Tony Capon, head of sales at Salt, says: "The Bank of England's decision to keep interest rates on hold was entirely what the market expected.

  • Scarborough widens range with light adverse and B2L

    9 Jan 2006

    Scarborough is expanding into new lending territory and entering the light adverse and student buy-to-let markets.From this month, the society will be looking at adding fresh products to its mortgage range aimed at potential applicants such as those who have experienced debt problems, bankruptcy or County Court judgments.It is making the move to open up its products and services to a wider range of people.Traditionally, Scarborough has taken a more cautious approach to lending, ...

  • Scottish Widows and Virgin partner for 'Big V' cancer insurance

    9 Jan 2006

    Scottish Widows has partnered with Virgin to market life insurance and a new cancer insurance product under the Virgin Money brand.

  • Securitisations before Oakland lender launch

    9 Jan 2006

    The Oakwood Group says it expects to complete several more securitisations before launching its new lender in the summer. The news follows Oakwood Homeloans' securitisation of £300m in mortgage assets on November 30.The securitisation is comprised of £200m of near-prime residential mortgage assets from Preferred Mortgages, and £100m of conforming buy-to-let assets from Platform Home Loans.Mike Culhane, chief executive of Oakwood, says the group is in talks with ...

  • Senior management changes at Norwich Union GI

    10 Jan 2006

    Norwich Union General Insurance has made a number of senior management appointments.

  • Standard Life denies SIPPs fix

    9 Jan 2006

    Standard Life has denied press allegations that it used inflated figures to test the Treasury's resolve on self invested personal pensions.The national press reported that the mutual told the Treasury it estimated as much as 3bn a year could be invested in SIPPs, despite believing the figure was nearer to 200m. John Lawson, head of pensions policy at Standard Life, was quoted as saying: "We were testing them to see if they were absolutely serious."But Jeff Newton, spokesman ...

  • Stocks surge likely to affect buy-to-let

    9 Jan 2006

    2006 had barely got underway before the usual crop of crystal ball gazers were making their predictions for the new year. Top prediction for the financial services industry in 2006 is the stock market making a triumphal comeback.

  • Taxman to collect 418m in late self-assessment fines

    10 Jan 2006

    Despite a crackdown on late self-assessment forms, research from IFA Promotion estimates taxpayers are set to gift the taxman an unnecessary 418m this year in fines generated by late returns, miscalculations and surcharges on unpaid tax - 6m more than estimations for last year.

  • Taylor's Tour.....

    9 Jan 2006

    Henry Taylor's day job is running a mortgage broking business in Eastbourne on the south coast of England. When not at the office, he loves taking part in the Seat Cupra Championship

  • Terraced homes more popular

    9 Jan 2006

    Although most home buyers prefer a detached property, the popularity of terraced homes grew throughout 2005, says Norwich and Peterborough.The number of loans taken out by N&P customers on terraced homes increased by nearly 2% during 2005.

  • The Cheshire offers credit repair mortgage

    11 Jan 2006

    The Cheshire is the first mainstream mutual lender to provide fully automated credit repair mortgage applications online.

  • The Mortgage Mole

    9 Jan 2006

    The Bare Minimum - News has reached Mole's ears that Morgan Stanley has fired four of its American bankers after they accompanied clients to a strip club during a conference in Arizona. The investment bank has now banned its staff from visiting adult entertainment clubs, a move that has apparently stunned the City and Wall Street where such corporate excursions are considered the norm. Mole couldn't possibly comment on whether mortgage professionals favour such outings here in ...

  • Think how HIPs will benefit consumers

    9 Jan 2006

    Whenever a piece of legislation is introduced most people focus on the potential pitfalls. That has certainly been the case with Home Information Packs. There have been more column inches devoted to the reasons why HIPs will cause problems for brokers and lenders than comments about the benefits to consumers.

  • Tim Dawson to retire as MEX managing director

    9 Jan 2006

    Mortgage Express has revealed that its managing director, Tim Dawson, is to retire on the March 31 2006.

  • Time for a real debate on affordability

    9 Jan 2006

    Here we go again, another year arrives offering new horizons and expectations. But will 2006 be a case of d? vu or will it really throw down fresh challenges?

  • TMA adds Preferred to panel

    12 Jan 2006

    Preferred is joining The Mortgage Alliances main panel of lenders from January 16.

  • TMB launches buy-to-let products and improved rates

    10 Jan 2006

    The Mortgage Business has launched multiple buy-to-let products and improved rates.

  • TMP offers on-site B&W underwriting facility

    10 Jan 2006

    The Mortgage Partnership, the North-West-based distributor and packager, if offering an on-site Bristol & West underwriting facility for all B&W packaged deals.

  • Tories slam government for failing to prevent further regulation

    12 Jan 2006

    The Conservative Party has slammed the government for failing to reduce the burden of regulation on UK firms, pushing them down the World Competiveness list.

  • Two million homes at risk from flooding

    13 Jan 2006

    More than two million properties in England and Wales are at risk from flooding and this figure is likely to rise as climate change progresses, with immense implications for housing providers and the construction industry. A conference at Watford on March 7 will bring developers, designers, manufacturers, planners, mortgage lenders and insurers together to debate and identify what further action can be taken to make the UK housing stock more flood resilient. Looking ...

  • UK public pays 553m in bank charges

    13 Jan 2006

    People in the UK are being urged to keep a closer eye on their finances after it was revealed the population paid 553m in penalty fees and charges in 2005.

  • UNIPASS a great benefit, says Origo

    11 Jan 2006

    Origo has reported the findings of its annual online UNIPASS user survey. The survey reveals that UNIPASS is of great benefit to advisers working online - a resounding 86% agreed that financial websites are easier to use with UNIPASS, and 78% say that using UNIPASS increases their daily productivity.

  • Us mortgage pests will rule in 2006

    9 Jan 2006

    Mortgage buyers will be at their most irritating in 2006 as they fight for better value. As half of possibly the most demanding mortgage customer couple in the country I am in the front line of this battle for a better deal.

  • Valuation rollout

    9 Jan 2006

    Cumberland is to roll out UKValuation's ProVal automated valuation system throughout the country.

  • Virgin cancer cover raises awareness of financial protection, says insuremarket.com

    13 Jan 2006

    Virgin Moneys cancer cover could help raise awareness among consumers of the benefit of protecting their finances against serious illness, says insuresupermarket.com.

  • We can look forward with confidence

    9 Jan 2006

    Without wanting to sound like a football pundit, 2005 was a year of two halves for the mortgage market. A year that began with a degree of anxiety ended with a sense of confidence. The turning point, at least for me, came halfway through the year when it became clear that the housing and mortgage markets were showing signs of recovery and, importantly, interest rates were cut. We can now look forward with greater optimism to a solid if unspectacular 2006.

  • What challenges face the industry in 2006?

    9 Jan 2006

    The new year is traditionally a time to throw off the old and welcome in the new with a bottle of bubbly.But what does 2006 have to offer and what challenges can the mortgage industry expect in the months ahead? With a host of new lenders to launch later in the year, the Home Information Pack trial and the housing market in the shade of an invigorated stock market, it's going to be an interesting year.So, Mortgage Strategy asks: "What challenges do you expect to ...

  • When it comes to HIPs and estate agents, all's fair in love and business

    9 Jan 2006

    From Tom Gardiner I read with interest some of the views on Home Information Packs in the December 12 issue of Mortgage Strategy, especially those from Colin Baily and his comment on "nasty estate agents". As I write mortgage business from an estate agency office I have to point out that the scenario for the HIPs will probably be estate agents arranging and paying upfront with the cost being met by the vendor via their estate agency fee. Think this through please. To get the ...

  • Which? criticises Guardian and FSA

    12 Jan 2006

    Which? has criticised Guardian for treating customers unfairly and questioned the Financial Services Authoritys decision to reduce its fine against the firm.

  • With the fsa cracking down on networks, would brokers be better off being directly authorised??

    9 Jan 2006

    If brokers wish to be appointed representatives they must ensure they are in networks with good compliance systems, say our experts

  • Young people optimistic about owning own property, says UCB

    11 Jan 2006

    Most children between the ages of 16 and 21 aspire to eventually own their own home and two-thirds believe theyll buy their first property between the ages of 25 and 30, shows research by UCB Home Loans, the specialist lender of Nationwide.

  • Zest launches harvest range

    9 Jan 2006

    Zest Home Loans has launched a range of mortgage products funded by Stroud and Swindon Mortgage Company.

  • Zurich appoints Bride

    13 Jan 2006

    Zurich Financial Services has appointed Martin Bride as UK Life chief financial officer.

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