Mortgage Strategy
9 May 2005

  • A bad hair day for banking

    10 May 2005

    A third of consumers are more likely to recommend their brand of shampoo than their bank, according to research by internet bank ING Direct.

  • A View From The floor

    9 May 2005

    Jennifer Holloway, head of media relations at Skipton, says cowboy builders, bungling plumbers and decorators taking tea breaks every five minutes may be a thing of the past

  • A week full of pensions, politics and kfis

    9 May 2005

    There is so much going on in the world of politics, pensions and Key Facts Illustrations that I thought it prudent to cover all these subjects this week.

  • A&L welcomes interest rate freeze

    10 May 2005

    Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, has welcomed the interest rate freeze at 4.75%.

  • Abbey Commercial Mortgages improves 48 hour service

    13 May 2005

    Abbey Commercial Mortgages has improved its mortgage 48 hour service so people can now receive an agreement in principle and an offer of finance within 48 hours of making their application.

  • Abbey raises switching fee

    9 May 2005

    The lender has scrapped the separate repayment fee of 99 and mortgage discharge fee of 80, which totalled 179. Instead the 225 fee will include the cost of both penalties.Abbey says the increase brings the rate broadly in line with competitors and that it has not made any increases to its repayment fee for more than two years.It adds that the increase follows a recent review of the costs of looking after customers' mortgage accounts and closing down or transferring their mortgage.The ...

  • Advice on equity release misleading

    9 May 2005

    Research to be released in the next few weeks by the Financial Service Authority shows advice given to customers about equity release is poor and often misleading.Speaking at Mortgage Strategy Live, Clive Briault, managing director for retail markets at the FSA, said: "Research we will release in the next few weeks shows early indications that advice given on equity release is poor, with customers often being advised to release more money than is needed."Richard Fox, ...

  • Advisers in danger of missing FSA deadlines

    12 May 2005

    The Society of Mortgage Professionals is reminding its members of the need to ensure their firms comply with the FSA regulatory returns which came into effect from April 1. A guidance note being issued to Society members highlights the FSA requirement for regulated firms to report information about themselves and their activities, under the regulatory returns, PS 04/8 and 04/9 reporting requirements. Richard Fox, chief executive of the Society of Mortgage Professionals ...

  • Affirmative Finance expands into South East

    11 May 2005

    Manchester-based Affirmative Finance is to increase its market share in the bridging loan sector with the opening of a Southern administrative and marketing office in Potters Bar, Hertfordshire.

  • 'All monies' clause should be made clear to borrowers

    9 May 2005

    I would like to bring to the attention of Mortgage Strategy readers and indeed the Financial Services Authority the small matter of the ’all monies’ clause that some lenders have in their mortgage terms and conditions. The mortgage is intended to ensure that if you do not repay the loan as agreed, you can be evicted from the house (but only after court proceedings), and the house can be sold to recover the loan and any interest and costs. If the house does not sell for enough to repay ...

  • Amber widens its choice of adverse products

    9 May 2005

    Amber Homeloans is adding a series of options to its range of light and medium adverse products.A choice of either three-year discounted or three-year fixed-rate products is now available, all featuring no extended tie-ins. The products offer a number of key features including the extension of the two-year discounts on the light and medium adverse products to a three-year stepped discount.Full status and self-cert options are available on both the light and medium adverse fixed ...

  • AMI plans retrospective project to protect brokers against mis-selling claims

    9 May 2005

    The Association of Mortgage Intermediaries is to set up a retrospective project in conjunction with the Financial Ombudsman Service to help protect brokers against potential mis-selling claims.AMI says it has the full support of the Financial Services Authority and will work in conjunction with the FOS, sharing resources and training staff in the area.Speaking at Mortgage Strategy Live, Chris Cummings, director of AMI, said problems have occurred where after five years ...

  • AMI to work closely with FSA

    9 May 2005

    The Association of Mortgage Intermediaries is to work closely with the Financial Services Authority as part of a consultative group looking at Treating Customers Fairly.One of the initiatives that the FSA will be establishing through the TCF initiative is to start a consultative group, including industry members, consumer groups, AMI and the Financial Ombudsman.Some of the areas the FSA will be looking at in relation to TCF include authorisation issues, lifetime mortgages, financial ...

  • B2L property scams wound up at High Court

    12 May 2005

    A buy-to-let scam which promised to help investors make a fortune in the property market has been closed down by the Department for Productivity, Energy and Industry.

  • Blackmore upbeat despite Tory win

    9 May 2005

    Rachel Blackmore, spokeswoman for the Building Societies Association, says she fought a good battle representing Labour/Co-operative for Stratford-upon-Avon and was not disheartened by a Tory win.Blackmore came a comfortable third, with a 17.4% majority and 10,145 votes from the constituency, with the Liberal Democrats scooping second position with 28.8% and 16,468 votes. However, it was the Conservatives who celebrated victory, after gaining a majority of 49.2%, with 28,652 votes.Blackmore ...

  • Blair popularity battered in election

    9 May 2005

    Tony Blair was given a much expected bloody nose at last week's general election after his majority was more than halved. As Mortgage Strategy went to press last Friday the Labour majority was slashed from 167 in 2001 to just 66.Had it just been mortgage brokers voting, it seems unlikely Blair would have been returned to ministerial role.Our results as at 10pm last Thursday had the Conservatives on 53%, Labour on 23%, Liberal Democrats on 18% and Others at 6%. See News, ...

  • Blair scrapes into third term

    9 May 2005

    After securing a margin of 167 seats in 2001, at the time of going to press Labour's 2005 election outcome saw a margin of only 66 seats.Blair is the only Labour leader to have won three elections in a row, but his margin of victory is less than half it was in the Labour landslide in 1997 and its second term win in 2001. He received the lowest share of the vote for a ruling party in modern times.Blair pledged to focus on the NHS, employment and law and order and suggested that ...

  • BM Solutions appoints new head of mortgage products and marketing

    9 May 2005

    BM Solutions has appointed Tim Hague to a new role as head of mortgage products and marketing.

  • BM Solutions launches partnership with Shelter

    10 May 2005

    BM Solutions is to donate 2.50 to charitable foundation Shelter, for every sub-prime mortgage case that it passes.

  • Breathing new life into the PMI sector

    9 May 2005

    The private medical insurance market needs innovative products to jolt it out of its slump and the introduction of a personal health fund could be just the thing it needs, says Jo Clark

  • Brokers losing out on 5bn annual insurance commissions

    12 May 2005

    Research by Burgesses Limited reveals that brokers and IFAs could be losing up to 5bn per annum in commission by allowing banks and Societies to sell payment protection insurances to its clients.

  • BSA warns of regulatory overload

    9 May 2005

    The Building Societies Association at its annual conference warned that over-regulation of the mortgage market is a real possibility.John Parker, chairman of the BSA, says: "The overall picture continues to be one of excess, multi-faceted regulation where there is considerable uncertainty, over- lapping rules and principles and an inadequate recognition of the long-term benefits of competition in delivering consumer value."There is a risk to confidence, to innovation and to ...

  • Buy-to-let clients plan to extend their portfolios

    9 May 2005

    The latest buy-to-let survey from Mortgage Express shows 39% of existing buy-to-let clients are planning to extend their portfolios within the next six months.In addition, 96% expect rent levels to remain the same or increase over the next six months.The survey by the buy-to-let lender provides an authoritative insight into the sector on a variety of issues including market confidence, void periods, rent levels and details of future portfolio plans.The South remains the ...

  • C2 reports record business levels

    11 May 2005

    c2 financial, the national mortgage distributor and mortgage lender has had record levels of business during the first quarter of 2005.

  • Changing times in licensing laws

    10 May 2005

    Since February, and through until November this year, the Licensing Act 2003 (Transitional Provisions) Order 2005 entitles holders of Justices Licences, as governed by the Licensing Act 1964, to apply for the conversion of those licences so that they are fully compliant with the Licensing Act 2003.

  • Council Tax has rocketed 91%

    9 May 2005

    This is more than three times the increase in average pensioners' income, which has only risen by 29%, from 11,700 to 15,132, and highlights the growing affordability problems over-65s are experiencing.Pensioners living in the East of England and the South-East were hit by the biggest increases at 108% and 106%. The North-West and Yorkshire and Humberside saw the smallest at 68% and 79%.Surprisingly, when house prices are taken into account, over-65s in London had the lowest ...

  • Courtover Investment Management fined 20,000 by FSA

    10 May 2005

    The Financial Services Authority has fined Courtover Investment Management for approving a misleading financial promotion for the issue of unlisted shares in a separate property investment company, Overseas Property Investments plc.

  • Curriculum Vitae - Gary Miller-Cheevers

    9 May 2005

    "We've survived when other packagers have been less fortunate"

  • Dear Delia

    9 May 2005

    Dear Delia John, 25, lives with his parents and has worked with the same employer for 10 years. He earns a basic salary of 20,900 plus annual bonus of 12,000.

  • Debt consolidation loan applications up by 5% in one month

    12 May 2005

    Statistics released today by PolarLoans Money Monitor gives a monthly insight into consumer activity in the loan marketplace.

  • Distributors - adding value to lenders

    9 May 2005

    Although lenders have tried many ways of selling it appears to be distributors who are coming out on top in terms of being the lowest cost sales channel, says Richard Griffiths

  • Do you agree with how the mccb has decided to distribute its surplus 1m fund?

    9 May 2005

    The industry is questioning why funds are going to the FSA but is applauding the decision to give some to the Mortgage Advice Trust, say our experts

  • e.surv report healthy activity levels from lender clients

    13 May 2005

    The latest results from e.surv chartered surveyors suggests that activity levels are returning to those seen in the first half of last year. It says the market dip witnessed in the last quarter of 2004 was as a consequence of three main factors, the effect of previous interest rate rises, the traditional season slowdown, and the onset of mortgage regulation from November. e.surv believes that this last element was by far the biggest influence on volumes of business.

  • EC prepares Green Paper on integration of European mortgage markets

    9 May 2005

    A Green Paper is being prepared by the European Commission on how the European mortgage market, including the UK, can be integrated.Judith Hardt, secretary-general of the European Mortgage Federation, says the green paper is being prepared in Brussels as a follow-up to recommendations from Europe's Financial Services Action Plan commission.She confirms that mortgages have been dropped from the Consumer Credit Directive. Their inclusion in this would have had a more immediate ...

  • Emergence of super packagers is not surprising at all

    9 May 2005

    From Kevin Paterson I was interested to hear Peter Beaumont's comments on the emergence of super packagers recently. I have for the past couple of years believed that the packager community was gearing up to go through some radical changes with the implementation of regulation, so the emergence of super packagers is the manifestation of these changes and does not surprise me at all. I believe many in the packager community buried their heads in the sand with regard to regulation ...

  • Experts warn of property scams

    12 May 2005

    Buy-to-let scams closed down this week by the government are just the tip of the iceberg, industry experts have warned.

  • Financial Health Matters

    9 May 2005

    Over the past 10 years the mortgage industry has lent to borrowers who have had credit problems - even to those with a recent bankruptcy or an individual voluntary arrangement still in operation.

  • First lifetime mortgage exam sets high standard

    9 May 2005

    All 219 candidates sitting the first Lifetime mortgage activities (CF7) paper achieved a pass the Chartered Insurance Institute (CII) announced last week.

  • FMO marketing course a huge success

    11 May 2005

    First Mortgage Options says its marketing and advertising course for IFAs and mortgage brokers received a resounding thumbs up from the delegates attending.

  • Freedom Lending extends service north of the border

    13 May 2005

    Freedom Lending has extended its service to include mortgage applications from Scotland. Freedom started lending in England and Wales in May last year.

  • Friday 13, superstitions and spooks haunt housebuyers

    13 May 2005

    Over a third of Britons, 35%, are adamant that they would not move house on Friday 13, says research from mortgages at Lloyds TSB.

  • FSA probe outcome is positive

    9 May 2005

    The Financial Services Authority has reported a positive outcome to its nationwide investigation into the level of unauthorised mortgage business being conducted.Based on contact with more than 600 firms including 450 visits, the FSA found that the vast majority of brokers were well informed about the need for them to be regulated by the FSA if they undertake regulated activities.The FSA found only 11 brokers who were not authorised when they should have been. Seven of those ...

  • FSA slammed over KFIs

    9 May 2005

    Sole trader Danny Lovey was applauded by other brokers at the conference after he accused the FSA of making KFIs misleading and unfair.However, speaking at MS Live, Clive Briault, managing director for retail markets at the FSA, said the regulator was still reviewing KFIs and would soon send out letters clarifying what should be in the documents. He also explained that the FSA has been disappointed to see that some KFIs are too long, too complicated and have not achieved ...

  • Ftb home truths

    9 May 2005

    As the first-time buyer market continues to shrink Mortgage Strategy brings together some of the industry's experts to find out exactly what is being done to help young people get on the first rung of the property ladder

  • GE Life cuts lifetime rate and offers 500 cashback

    9 May 2005

    In addition to the new rate, GE Life is launching a cashback facility. This means all customers, irrespective of the size of their loan or who their financial adviser is, will receive a 500 tax-free cashback on completion of their equity release mortgage.The enhancements to GE Life's lifetime product are in response to feedback received from financial advisers since the launch of its lifetime mortgage last November, together with the signing of a funding agreement with Stroud and ...

  • GMAC-RFC solves buy-to-let rental cover issue

    12 May 2005

    GMAC RFC says it has launched a major assault on the buy-to- let market through product innovation.

  • Government backtracks on DTI rebrand

    13 May 2005

    The government has rebranded back to the Department of Trade and Industry only days after changing to the Department for Productivity, Energy and Industry.

  • Has A&L totally lost the plot? From Jim Gillespie

    9 May 2005

    Alliance & Leicester has been in the trade press more than usual recently as its exit fee is now one of - if not the - highest at 295. From the feedback I have read from brokers this is putting them off recommending A&L to clients. I too am now loathe to recommend this lender to my clients, but for different reasons. Firstly, its online service was a shambles on Mortgage Dayâ?? and it took several weeks to get my firm registered on its system. When I did start using its online ...

  • High street lenders failing to satisfy FSA best advice requirements

    10 May 2005

    High street lenders are failing to satisfy new best advice requirements and could prove heavy casualties to the FSA investigations says Burgesses.

  • HML passes Fitch review with flying colours

    12 May 2005

    Homeloan Management, provider of outsourced mortgage administration services, has had its ratings affirmed by international rating agency Fitch.

  • Housing market at turning point

    11 May 2005

    The housing market has reached the turning point of its current slowdown, says figures released today by SmartNewHomes.com, a UK homes website.

  • Igroup changes its mortgage process

    9 May 2005

    GE Capital's sub-prime lending arm igroup has altered its mortgage application process after consultation with the Financial Services Authority.igroup's brokers had been asking customers to sign mortgage deed documents and application forms at the same time, without seeing a mortgage offer document. Clients are usually given the opportunity to see the mortgage offer to ensure all terms are to their satisfaction before signing a loan agreement.Concerns were raised that customers ...

  • Improved savings from five-year fixed rates

    11 May 2005

    Your Move says its April remortgage index shows five-year fixed rates are getting more attractive.

  • Industry debates the pros and cons of regulation

    9 May 2005

    In response to a question about whether FSA mortgage regulation has benefited customers at the Building Societies Association conference in Harrogate, Wyles said "regulation has to be proportionate."There was a tiny minority abusing the system and they had to be dealt with. But we did not want a strait-jacket of procedures being imposed on the whole industry."Wyles does not believe the increase in customer protection has outweighed the cost saying this will have to be passed ...

  • Industry forecasts a hold in the base rate

    9 May 2005

    With the general election already a distant memory, all eyes in the financial services industry fall on today's deferred Monetary Policy Committee meeting.With many industry pundits predicting a rate rise just over a week ago, the mood has swiftly changed with many predicting that the Bank of England base rate will hold at 4.75% for the rest of the year.Sunday Times' economist David Smith not only predicts a rate hold but also that the next rate movement the UK sees will ...

  • Interest rates remain unchanged at 4.75%

    9 May 2005

    The Monetary Policy Committee has frozen the Bank of England base rate at 4.75% for the ninth month in a row today.The MPC decision was delayed from last week because of the general election.

  • Internet Insite

    9 May 2005

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

  • Is there room for another lender in sub-prime?

    9 May 2005

    The new lender will distribute exclusively through the Mortgage Distributor's Co-operative which comprises 18 packagers, including TMO and Solent Mortgage Services.

  • L&G backs The Exchange

    10 May 2005

    The Exchange, provider of portal services to IFAs, has entered into a five-year contract with Legal & General for future use of the Exweb portal.

  • Labour's reduced majority is welcome

    9 May 2005

    Tony Blair was given a much expected bloody nose at last week's general election after his majority was more than halved.

  • Leading the way in social housing

    9 May 2005

    Social housing provision is likely to remain as one of the key issues on the political agenda which spells potential new business for providers such as Dunfermline, says Peter Weanie

  • Leave before you scupper your future prospects

    9 May 2005

    Mark Witcomb is senior consultant at Venatus Business Intelligence

  • Leeds & Holbeck launch 10-year fixed rate mortgage

    13 May 2005

    Leeds & Holbeck is to launch a 5.14% 10-year fixed rate mortgage on Tuesday May 17, 2005.

  • Leeds & Holbeck reverses industry trend

    13 May 2005

    A recent report by the Council of Mortgage Lenders confirms that the number of mortgage possession actions in England and Wales has increased by35% in Quarter one, 2005, compared to the same period last year.

  • Lenders may face questions on SVRs

    9 May 2005

    The Association of Mortgage Intermediaries has warned that lenders could face questions on whether customers understand SVRs.The trade body says there are rumours that the European Commission's Unfair Contracts Directive could question the UK mortgage industry about the way SVRs are explained in client contracts.AMI director Chris Cummings says: "There are rumours that something could come out of Europe on SVRs."He adds that the Directive could ask whether customers understand ...

  • Lighthouse lending

    9 May 2005

    Putting its money where its mouth is, Cheltenham & Gloucester says its latest advert isn't just hype and it would lend on a lighthouse, despite not having done so yet.The company says the main issues it looks at are whether the property is too wacky to be resold and whether the condition of the property would put off buyers.But providing it ticks all those boxes and is for a residential purpose, C&G says it could be OK.Nick Hale, sales director at C&G, says: "If the ...

  • LIME launches GI introducer facility

    9 May 2005

    The Tenet Groups Lifetime Insurance and Mortgage Experts, is launching a new GI introducer facility.

  • Liquid assets

    9 May 2005

    Today sees the relaunch of GE Life's lifetime mortgage and it highlights the importance of thorough research.

  • LR figures not market as it stands, warns Principality

    10 May 2005

    The latest figures from the Land Registry have been criticised for not representing the market as it stands by the Prinicipality.

  • MAB to branch out with launch of division

    9 May 2005

    National broker Mortgage Advice Bureau is to branch into wider areas of financial advice with the launch of Mortgage Advice Bureau Private Finance.The new division is set to be open for business by this autumn and one area of focus will be equity release.Brian Murphy, lender manager at MAB, says: "We will target the growing equity release market and will use advisers from around the company as well as new ones. This is to meet the need for retirement solutions. Another related ...

  • Market Watch

    9 May 2005

    Swap rates were down right across the board last week.

  • MEX three-year deal fills buy-to-let gap

    9 May 2005

    Mortgage Express has launched a three-year fixed rate buy-to-let deal at 4.99% in response to broker demand for competitive niche buy-to-let deals.The product is available up to 85% LTV, for a minimum loan size of 50,000. It features a completion fee of 1.5% and an early redemption charge of 5% for three years. The rental yield has been set at 130% of the initial pay rate.Andrew Moss, product development manager for MEX, says: "The recent withdrawal of The Mortgage Works' popular ...

  • Mortgage Express launches 4.99% fixed rate buy-to-let

    9 May 2005

    Mortgage Express has launched a 4.99% fixed buy-to-let deal, in response to increasing broker requests for competitive, niche buy-to-let deals.

  • Mortgage Trust relaunches fixed rate buy-to-let

    11 May 2005

    Mortgage Trust, the specialist buy-to-let mortgage provider, has relaunched its highly successful MT select fixed rate products.

  • Mortgages Direct welcomes interest rate decision

    10 May 2005

    Peter Gladdy, director of Mortgages Direct, says he supports Bank of England's freeze on interest rates and believes interest rates should be left on hold to avoid detrimental effects on both the UK housing market and the wider economy.

  • MPC decision good news for B2L, says MEX

    10 May 2005

    With the Bank of England's Monetary Policy Committee choosing to leave base rate unchanged at 4.75%, Peter Charles, chief economist at Mortgage Express believes that prospects for buy-to-let investors are looking better:Charles says: "There's no doubt that prospects are better now than at any time in the past year.

  • MPC decision good news for buy-to-let investors

    10 May 2005

    With the Bank of Englands Monetary Policy Committee choosing to leave base rate unchanged at 4.75%. Peter Charles, chief economist at Mortgage Express believes that prospects for buy-to-let investors are looking better.

  • MPLC warns of broker fraud risk

    9 May 2005

    Mortgages PLC is warning brokers that they could be held responsible if an introducer they have used is found guilty of submitting fraudulent mortgage applications.Peter Beaumont, sales and marketing director at Mortgages PLC, said: "All brokers, whether directly authorised or an appointed representative, need to be aware that if they accept business from introducers, it is they and not the introducer who is responsible if anything goes wrong."Brokers cannot wash their hands ...

  • MS answers all your sub-prime questions

    9 May 2005

    What's happening in sub-prime and specialist lending? Mortgage Strategy has teamed up with BM Solutions to provide you with the answers to all the questions surrounding this ever- changing sector.Simply log on to www.mortgagestrategy.co.uk and click on the BM Solutions survey box on the right hand side of the homepage to share your views.What's more, completing the short survey automatically enters you into a prize draw to win one of 10 bottles of Moet & Chandon champagne. ...

  • Nationwide offers borrowers choice of no reservation fee

    9 May 2005

    Nationwide will launch a payment option on its fixed and tracker mortgages tomorrow.

  • Nationwide wants to buy another specialist lender

    9 May 2005

    In an interview with Mortgage Strategy, to be published in full in next week's issue, Nationwide chief executive Philip William-son says it would consider such an acquisition if the opportunity arose. He says: "UCB is successful and it could be good to bolt another business onto it if one became available. It could be an intermediary business. I don't think it would be sub-prime but it could be in another area of specialist lending." And Williamson ...

  • Negotiation the principled way

    9 May 2005

    As the extract points out, most of us would say we desire mutually beneficial outcomes from negotiations, but we tend to fall back into conflict situations because we have no practical model for negotiating to create a win-win resolution and so we revert back to our natural dispositions - conciliator or aggressor.

  • Network Data launches exclusive with BM Solutions

    12 May 2005

    Network Data has launched an exclusive self-cert tracker, funded by BM Solutions.

  • New scheme to recognise training excellence in financial services

    10 May 2005

    The Financial Services Skills Council has launched the first in a new suite of schemes designed to show where firms and training providers have achieved excellence in training. Accreditation of Training Excellence for Firms and Accreditation of Training Excellence for Training Providers are the first two in what will ultimately be a series of five FSSC accreditation schemes.

  • Newcastle launches three new mortgages

    10 May 2005

    Newcastle has launched three new mortgages, including a two-year, five-year fixed rate and a three- year discounted rate.

  • Nicks Notes

    9 May 2005

    It is more than a month now since the Gender Recognition Act 2004 came into force.

  • ODPM shows housing rise in Q1 2005

    12 May 2005

    The latest housing figures out from the Office of The Deputy Prime Minister shows a steady rise in both new buildings being developed and completions in Q1 2005.

  • Offshore outsourcing to gather pace in industry

    9 May 2005

    The research comes in the same week that staff at Lloyds TSB staged a protest at the bank's annual shareholders meeting over its plans to export jobs to India.But despite this, the independent market analyst says offshore outsourcing is gaining popularity in the UK financial services industry.Its latest report on the subject, Global sourcing in European and North American Financial Services, says offshoring is growing in popularity with financial services institutions ...

  • On The Beat

    9 May 2005

    The media has been buzzing with news about the success of supermarket giant Tesco recording massive profits and growing market share.

  • On top form

    9 May 2005

    SPML sales and marketing director John Prust is confident he can continue to grow the company despite a shrinking market, says Mira Butterworth

  • Over-55s fear pensions shortfall

    9 May 2005

    Over a fifth of adults over the age of 55 are concerned about not having enough money when they retire, says research from Norwich Union Equity Release.While traditionally retirement is supposed to be a time for pensioners to enjoy themselves, the reality is that only 34% of retired people have enough money for luxuries.Almost half have just enough money to survive, and 17% struggle to get by, some having to rely on family and friends for support.The research also asked ...

  • Platform launches sub-prime fixed rates with RAMP

    10 May 2005

    Platform, the intermediary lender of Britannia, is launching a range of two-year and three-year sub prime fixed rates, exclusively in conjunction with the Regulatory Alliance of Mortgage Packagers.

  • Property market slowdown hits cheaper homes

    10 May 2005

    A slowdown in the housing market is effecting sales in the lower-priced properties harder than more expensive properties says the Land Registry.

  • Rate hold no surprise, says Skipton

    9 May 2005

    Skipton says today's ninth successive rate hold comes as no surprise.

  • Rates Ladders

    9 May 2005

    NatWest's recent arrival into the offset flexible mortgage market struck me as having something of the marathon about it.

  • Real breakthrough in online services

    9 May 2005

    Mortgage 2000's Casemaster system is a key step towards an integrated online process as it allows small intermediaries to package for a panel of specialist lenders, says Frank Eve

  • Remote processing for GMAC

    9 May 2005

    A presentation will take place this week at the Glasgow Hilton to be attended by more than 100 guests. This follows a pilot scheme which integrated Opus' own online decision in principle and application technology with GMAC-RFC's point-of-sale decisioning system.Opus will operate as a full processing centre, dealing with loan approvals and issues of offer, as well as client's solicitors, with the whole process supported by onsite underwriting. It will be the only remote processing ...

  • RICS comment on Land Registry Data

    10 May 2005

    Land registry data from the first quarter showed the market slowing across the country with annual house price inflation falling to 10.2% from 11.8% in Q4 2004.

  • Skipton predicts demise of networks

    9 May 2005

    Skipton chief executive John Goodfellow has predicted the demise of networks, saying only the strong will survive the next 12 months, partly because of the cost of professional indemnity insurance.Speaking at the Building Societies Association conference in Harrogate, Goodfellow, whose Skipton Group owns both the Pink and Enable networks, said: "In the intermediary mortgage market my prediction is that there won't be any networks in 12 months' time. PII is just too expensive, it ...

  • Spotlight on treating customers fairly

    9 May 2005

    The FSA's Treating Customers Fairly initiative goes to the core of every company's business and offers great benefits by way of long-term customer loyalty, says Neal Smith

  • Standard Life Bank increases buy-to-let flexibility

    10 May 2005

    Standard Life Bank is to make its buy-to-let product more accessible to landlords by changing its rental yield requirement calculation with immediate effect for loans up to 65% LTV.

  • Sutcliffe new CEO at Compass

    11 May 2005

    Mike Sutcliffe is to succeed Chris Smith as chief executive officer of Compass Finance Group.

  • TCF is a threat to industry

    9 May 2005

    Speaking at the Building Society Association's conference in Harrogate, he echoed concerns voiced by speakers at a session on mortgage lending about the lack of clarity from the FSA on TCF.Coogan described TCF as a threat and questioned whether the best approach is for trade bodies like itself to produce guidance or not.However, Portman group development director Matthew Wyles says: "I would counsel against the CML giving too much guidance as it could be wrong and end up as ...

  • The Mortgage Mole

    9 May 2005

    Digging the dirt in the mortgage world

  • Time to stamp out greedy telephone practices

    9 May 2005

    Name and address supplied You may have noticed that an increasing number of lenders and insurers are only publishing 0870 numbers on which to contact them and yet they want our business. These numbers cost me almost four times as much to call in the daytime as an STD number would and eight times after 6pm. When I complain, I am told no-one else has complained and, anyway they do not know the normal number. Perhaps we need educating. All non-geographic numbers are held by telecom ...

  • UCB reduces fixed rates

    12 May 2005

    UCB Home Loans has reduced its fixed rate mortgages by 20 basis points today.

  • VE Day at Leeds & Holbeck

    11 May 2005

    As millions of people remember the biggest conflict in history and celebrate VE Day across Europe, Leeds & Holbeck took a look into its archives to get a feel of what Society life was like 60 years ago.

  • Vertex and Marlborough Stirling unite

    12 May 2005

    Andy Hunt, previously sales and marketing director for Vertex, is named managing director of Marlborough Stirling.

  • Victoria Mortgages launches on schedule

    12 May 2005

    Victoria Mortgages, the specialist sub-prime mortgage provider, has successfully launched on schedule on May 9, 2005 with what it says is the most innovative range of product features in the sub-prime mortgage market.

  • West Bromwich open branch in Telford

    10 May 2005

    Elsa and Bryan Tovell from Wolverhampton won themselves a bottle of champagne to celebrate being the first couple to visit the new branch of the West Bromwich in Telford.

  • Why job satisfaction is the foundation for success

    9 May 2005

    Colin Lloyd is head of operations at Reed Insurance

  • Woolwich launch first-time buyer products

    12 May 2005

    Research commissioned by Woolwich reveals that the number of loans to first-time buyers has fallen by 375 since 1999, as they struggle to keep up with house prices which have risen by a staggering 90% between 1998 and 2003.

  • Woolwich launch first-time buyer products

    11 May 2005

    Research commissioned by Woolwich reveals that the number of loans to first -time buyers has fallen by 37`5 since 1999, as they struggle to keep up with house prices which have risen by a staggering 90% between 1998 and 2003. Recognising the financial challenges first-time buyers' face, Woolwich last month scrapped its higher lending charge and has now launched a suite of mortgages to help them get a foot on the property ladder. The range includes a three-year discount mortgage ...

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