Mortgage Strategy
13 November 2006

  • AfI launches into buy-to-let market

    13 Nov 2006

    Abbey for Intermediaries is offering buy-to-let mortgages fromtoday. The proposition from Abbey will offer intermediaries deals with a maximum LTV of 85% for loans up to £1m per property, plus 120% minimum rental cover. There is no booking fee, free valuation and £250 cashback available for purchase and remortgage clients on selected products.

  • Big bubbly offer from Trigold

    13 Nov 2006

    Trigold is giving brokers the chance to win a Nebuchadnezzar of champagne. A Nebuchadnezzar holds the equivalent of 20 standard bottles. Every application via Trigold's Electronic Trading Centre before December 15 will be entered into a prize draw.

  • PMPA unveils four deals

    13 Nov 2006

    The Professional Mortgage Packagers Alliance has introduced four products via The Mortgage Business. The first two PMPA offers are options within TMB's Self 85 product that allows self-certification of income to a maximum LTV of 85%. The two other products are on offer within TMB's House to House product. Both of these are two-year trackers, each with a maximum LTV of 85%.

  • Website unveils search offer

    13 Nov 2006

    Titlesolv.com is to offer a 20% discount on its search indemnities and defect cover policies when solicitors buy more than one policy. The website, which has also raised its indemnity limit to £2m, is releasing the discount offers following its launch of further lender and owner residential products.

  • West Brom cuts rental requirement

    13 Nov 2006

    West Brom for Intermediaries has cut the standalone rental cover requirement on its buy-to-let product range from 120% to 100%. Under the standalone calculation, monthly rental must cover 100% of the monthly payment at a notional rate of base plus 1% on an interest-only basis. Any rental shortfall can be topped up using the applicant's earned income.

  • £10,000 prize to be announced at Expo

    13 Nov 2006

    Mortgages PLC is announcing their prizewinners at Mortgage Business Expo, including a £10,000 shopping spree at Harrods, two nights in a luxury West End hotel and dinner at Gordon Ramsay’s restaurant, MAZE. The winner and their partner will also be chauffeur driven throughout the weekend.

  • £1M starter homes by 2020

    13 Nov 2006

    The average first-time buyer could be paying a shocking £1m for their home in as little as 14 years.

  • 63% Of brokers not worried about 5 x mortgages

    13 Nov 2006

    A whopping 63% of brokers say 5 x income mortgage products are not a recipe for disaster. Abbey last week received widespread criticism following the stretching of its income multiples to 5 x despite many within the mortgage industry stating that lenders had been stretching to similar levels for some time.This week Mortgage Strategy asks: "Should lenders impose a maximum age limit on mortgages?"Q: Are 5 x income mortgage products a recipe for disaster?

  • 8 x income products could be on the horizon

    15 Nov 2006

    Technical director of Hamptons Mortgages Jonathan Cornell predicts that 8 x income multiple products could well be on horizon.

  • A stretch too far could leave clients exposed

    13 Nov 2006

    The cat was set firmly among the pigeons the other week with a big provider announcing that it was going to start offering mortgages based on 5 x salary.

  • A&L's B2L unit was great in sorting out our tricky case

    13 Nov 2006

    From Mike Lawson

  • Advantage enhances website

    13 Nov 2006

    Advantage has made changes to its e:lect website to make it easier to navigate. It has added tools including password prompts

  • Advantage joins lending panel

    13 Nov 2006

    Advantage has been added to Mortgage Promotions' lending panel. Brokers using the panel can now access all the Advantage product ranges.

  • Advantage launches Rapidremo

    16 Nov 2006

    Advantage, a Morgan Stanley Group company, has launched Rapidremo, a legal service that speeds up the offer to completion stage.

  • AHIPP announces 12 location for further HIP trials

    17 Nov 2006

    The Association of Home Information Pack Providers is now announcing an additional 12 locations where its members will be offering consumers an opportunity to purchase a pack ahead of their mandatory introduction in June next year.

  • Almost half of advisers to incorporate REITs into portfolios

    17 Nov 2006

    44% of financial advisers plan to incorporate UK REITs into their investment clients portfolios when they launch in January 2007.

  • AMI reveals static market for adviser recruitment

    13 Nov 2006

    The Association of Mortgage Intermediaries October mortgage intermediary census has revealed a static market for mortgage adviser recruitment, with a majority of firms not recruiting any additional mortgage advisers in the last 12 months. Research conducted amongst AMI members shows 80% of firms have not added additional mortgage advisers to their firm in the last year. Of those 20% that have recruited, 52% have added one adviser, 14% two, while 33% have employed three or more. ...

  • Asian property hit by instability

    13 Nov 2006

    The Global Property Guide says Asia's residential property markets have performed poorly because despite high rental yields in Indonesia, Thailand and the Philippines, the market's rise has been limited due to political instability. It warns "the next decade isn't going to be much fun for investors" in Asia.

  • Assetz named top agency in France

    13 Nov 2006

    Assetz France has won the 'best real estate agency in France' award for the second year running at the International Property Awards. Stuart Law, managing director of Assetz, says: "We are delighted that we have once again been recognised by the industry as the leading new-build and French property leaseback estate agent."

  • AToM claims it pays top proc fee

    13 Nov 2006

    All Types of Mortgages claims it pays brokers one of the highest proc fees in the industry. Internal research by AToM, shows on average it pays a higher proc fee than the industry norm. The research also highlights the wide variation in fees paid by packagers for the same products from the same lenders.

  • AToM offers free valuations with GMAC-RFC

    14 Nov 2006

    AToM is offering free valuations on all sub-prime mortgages from GMAC-RFC, and a discounted rate of £99 for its panel of onsite lenders.

  • Average home now costs £200,000

    13 Nov 2006

    The average house in England and Wales now costs more than £200,000, figures from the Land Registry show.

  • Average UK house price 198K, says DCLG

    13 Nov 2006

    Government figures show the average UK house price leapt up from 197,000 in August to 198,552 in September 2006.

  • AVMs allow money to be used for client empowerment and improved products

    13 Nov 2006

    From Jeff Knight

  • B2L repossession rise claims wide of mark, says ARLA

    13 Nov 2006

    Reports that buy-to-let repossessions are on rise are "irresponsibly" wide of the mark says the Association of Residential Letting Agents.

  • Ban called for on variable rate high income multiple products

    15 Nov 2006

    Economist John Wriglesworth has called for a ban on high income multiple variable rate products.

  • BDM of the week

    13 Nov 2006

    Efficiency combined with a comprehensive knowledge of his company's products allows David MacKenzie to fulfill the promises he makes to clients, says Nichola Kitching.

  • Best advice must lead everything

    13 Nov 2006

    If brokers want to ensure a steady pool of new clients they must use the internet either by having their own interactive website through which clients can get in touch if they need advice, or through a lead generator sourcing leads from the internet for them.

  • BoE hints at limited interest rate rise

    16 Nov 2006

    The Bank of England has indicated that interest rates do not need to rise significantly further in order to get inflation back inline with its 2% target.

  • Britannia offers 40-year deal

    14 Nov 2006

    Britannia Building Society is increasing its maximum mortgage term to 40 years.Tim Franklin, managing director of Britannia's Member Business, says: "As a responsible lender we have looked at ways for first time buyers to overcome initial affordability requirements and decided to review our existing 30 year mortgage. There will be the opportunity to reduce the mortgage term once they have found their feet on the property ladder."

  • Brits opt for French mortgages, says Assetz

    13 Nov 2006

    People buying holiday homes in France are increasingly taking out French mortgages rather than buying with cash, says Assetz Finance.

  • Brokers beware

    13 Nov 2006

    The sub-prime market is lucrative and growing but brokers could be treading on thin ice if they get involved, as the FSA clamps down, says Thomas Reeh

  • Brokers tighten grip on mortgage market

    13 Nov 2006

    Intermediaries control almost three-quarters of the mortgage market as retail-only lenders slowly lose their grip on the industry. Using lending figures, Richard Griffiths, managing director of Network Data, calculates the percentage of mortgage lending that originates from intermediaries to be 68%.

  • BSA positive about Nationwide merger

    13 Nov 2006

    The chairman of the Building Societies Association says the Nationwide and Portman merger is not a sign of the decline of societies.

  • Builders should keep locals sweet

    13 Nov 2006

    The need for new housing is well documented. And the need to protect the character of local areas from the negative effects of new housing is equally well documented.

  • Calls for 14-day cooling off period on overseas deals

    15 Nov 2006

    Conti Financial has called for a mandatory 14-day cooling off period on all overseas deals.

  • Capita buys Synaptic Systems

    13 Nov 2006

    Capita has bought Synaptic Systems, a major provider of research information and software aimed at IFAs and financial product providers, for an undisclosed sum.

  • Chance to see Kylie and help child charity

    13 Nov 2006

    Solent Mortgage Services in association with Mortgage Strategy is offering Kylie fans the chance to win two front row tickets to see her concert at Wembley Arena on Friday January 5 2007.

  • Change at the top for DFS

    13 Nov 2006

    Direct Financial Services has changed its senior management structure. Founders Malcolm Davidson and Alex Knaggs will become joint managing directors. They will steer the direction of the group's activities, which cover mortgage packaging, financial advice, estate agency and property investment.

  • Cheval launches marketing blitz

    13 Nov 2006

    Cheval Bridging Finance is looking to boost its lending volumes in the run-up to Christmas with the launch of a new marketing campaign. Under the slogan 'Perfect 10', the firm is seeking to promote the benefits of bridging finance to the wider broker community.

  • City top of carbon emission league

    13 Nov 2006

    The Liberal Democrat Party has revealed that the City of London emits 55 times more carbon dioxide per person than any other London borough. Research shows the UK as a whole is emitting almost four times the global average when it comes to carbon dioxide.

  • CML reveals remortgaging hits lowest level for five years

    14 Nov 2006

    New data published by the Council of Mortgage Lenders shows that levels of remortgaging have reached their lowest figure for five years.

  • CML to review the way it calculates lending league

    13 Nov 2006

    The Council of Mortgage Lenders has pledged to review the way it calculates its mortgage lending league table after complaints from GMAC-RFC.

  • CML warns of more base rate rises soon

    13 Nov 2006

    Further Bank of England base rate rises are on the cards after last week's 0.25% rise to 5%, the Council of Mortgage Lenders is warningMichael Coogan, director-general of the CML, says the decision to increase rates should have come as a surprise to nobody.

  • Commercial cover launched

    13 Nov 2006

    Select & Protect has launched a commercial insurance proposition called Bonus Underwriter. The range, underwritten by Norwich Union, enhances its introducer status offering.

  • Compliance training package

    13 Nov 2006

    Absolutely Training has created a training package to help financial and mortgage advisers develop their compliance with the Financial Services Authority regulatory requirements.

  • Consumer debt spiral begins to slow

    13 Nov 2006

    Consumer debt is growing at its slowest rate for 13 years, according to figures from Alliance & Leicester's Borrowing Monitor.

  • Consumers hop off merry-go-round deals

    13 Nov 2006

    Thomas Reeh, chief executive at Blackandwhite.co.uk says the two-year discount product is losing its appeal for consumers and brokers.

  • Conveyancing Mobile launches case tracking system

    13 Nov 2006

    Conveyancing Mobile has launched its new mobile tracking system, allowing clients and conveyancers communication through mobile Internet technology.

  • CurriculumVitae

    13 Nov 2006

    "A relatively successful amateur career in footbball was curtailed by dodgy knees"

  • D&D Homecare launch online product reporting

    14 Nov 2006

    D&D Homecare, the general insurance distributor arm of the Swansure Group, has launched an online reporting system for both its standard accident sickness and unemployment policies and its new three4free products.

  • DB Mortgages steps up presence in sub-prime arena

    15 Nov 2006

    DB Mortgages has stepped up its presence in the sub-prime specialist market with several improvements to its lending criteria.

  • Dear Delia

    13 Nov 2006

    Dear Delia My clients are a married couple. The wife was discharged from bankruptcy two weeks ago while the husband set up an individual voluntary agreement six months ago. They want to buy a house and would like the mortgage to be in both of their names.

  • Death of desktop systems predicted

    13 Nov 2006

    DesKtop-based sourcing systems have reached the end of the road and should be "consigned to the dustbin of history", says Network Data.

  • Debt resolution firms form industry body

    13 Nov 2006

    THE debt resolution industry has come together to form the Debt Resolution Forum as a means to self-regulate the industry.

  • Do you think it is irresponsible to lend first-time buyers 5 x income?

    13 Nov 2006

    To label Abbey's 5 x product irresponsible is unfair as it is unlikely to put first-time buyers at risk, say our experts

  • Does the environmental impact of your house matter to you?

    13 Nov 2006

    Nolh Clements, 27, events managerI am not in a position to buy a house now, but the environmental impact of a property is definitely something that would be important for me, especially as being environmentally-friendly is a big issue at the moment.

  • Don't fall into the technology trap

    13 Nov 2006

    This is a people business and lenders must not fall into the trap of relying on technology to the extent that they lose the ability to communicate in the real world, says Ian Giles

  • Easier2move in link with KGB

    13 Nov 2006

    Online conveyancer Easier2move has linked up with mortgage distribution and packager KGB Packaging to offer conveyancing services to its broker clients. KGB Packaging offers products from a panel of lenders across the range of credit profiles from prime to heavy adverse. It is also a member of the Professional Mortgage Packagers Alliance.

  • Easier2move offers instant payment facility for referrers

    14 Nov 2006

    Easier2move is launching a new payment facility that will allow payment on the day of completion for referrers.

  • Economic guru dies

    17 Nov 2006

    Milton Freidman, the inspiration for many of Margaret Thatcher’s economic policies has died aged 94.The economist who coined the phrase “there’s no such thing as a free lunch” was the man who proved that inflation could be controlled by targeting the money supply. This theory became monetarism.Dr Freidman won the Nobel prize from Economics in 1976. He died in San Francisco.

  • edeus joins AMI

    14 Nov 2006

    edeus has become an associate member of the Association of Mortgage Intermediaries.

  • edeus parent secures 300 million euro investment

    17 Nov 2006

    edeus parent company Oakwood Financial has today received a 300 million strategic investment from CIR, a publicly listed Italian investment company, and Merrill Lynch.

  • Employers pessimistic about their company's prospects

    16 Nov 2006

    Employers are less optimistic about their companies' prospects than they were six months ago as rising costs significantly squeeze their profit margins, the latest CBI/RDA survey of Regional Economic Trends reveals.

  • Enterprise promotes Lovelock to director role

    15 Nov 2006

    Enterprise Group has promoted Mark Lovelock to director of corporate accounts.

  • Equity release rates begin to edge upwards

    13 Nov 2006

    After several weeks in which we saw a degree of stability in lifetime mortgage rates, the past week was an indicator of things to come.

  • European Parliment votes yes to integrated mortgage market

    16 Nov 2006

    The European Parliament has voted to adopt the European Commission's green paper on mortgage credit.

  • Exclusive plans to be big hit at London Expo

    13 Nov 2006

    Exclusive Connections will be packing a punch at this week's Mortgage Business Expo at Earls Court with the help of a boxing machine on its stand.

  • Fast-track conveyancing

    13 Nov 2006

    Portman is offering fast-track fixed quote conveyancing services via London & European's panel management solution for purchases and remortgages.

  • Favouring B2L is unfair on first-timers

    13 Nov 2006

    Abbey hit the headlines earlier this month with the news that it is to offer up to 5 x borrowers' salary because income is not keeping up with spiralling house prices.

  • Fee-free secured loans service

    13 Nov 2006

    MoneyQuest has launched a fee-free secured loans service aimed at the small to medium-sized broker market.

  • Fintal Exweb joins The Exchange

    17 Nov 2006

    The Exchange announced the launch of Fintal Exweb, a new equity release referral service which aims to reduce the risk and cost in the first stages of the equity release advisory process.

  • First And Last

    13 Nov 2006

    The first mortgage I took out was almost 10 years ago with Northern Rock. I had just bought my first flat in Surbiton - the perfect commuter town.

  • Freedom launches two-year discounted buy-to-let

    13 Nov 2006

    Freedom Lending has launched a two-year discounted buy-to-let mortgage with a rental calculation based on 120% at the pay rate.

  • FSA denies secret code plot

    13 Nov 2006

    The Financial Services Authority has denied it is trying to use trade bodies' guidance to cover up regulatory gaps after concerns were raised by the Association of Mortgage Intermediaries.

  • FSA urged get tough on ads

    13 Nov 2006

    Treasury Select Committee chairman John McFall has called on the Financial Services Authority to take a more robust stance on misleading financial advertising.

  • FSA warns brokers to give better advice

    15 Nov 2006

    The Financial Services Authority has warned that after two years of regulation there are still worrying cracks in the information brokers are giving to clients.

  • FSA's contact centre receives accreditation

    13 Nov 2006

    The Financial Services Authority's Firms Contact Centre has received accreditation from Contact Centre Association, the UK's professional body for contact centres.

  • GEMHL appoints head of new product development

    13 Nov 2006

    GE Money Home Lending has announced the appointment of Steve Wright as head of new product development. Wright, who has worked for GEMHL for over four years, has held a number of marketing roles within the business, before taking on this role.

  • GEMHL enhances overseas range

    13 Nov 2006

    GE Money Home Lending has enhanced its British Mortgages Abroad product rangeby adding the option of buying a second holiday home. The range also offers a 0.26% rate reduction in reversionary rates following the expiry of any fixed rate, a rate cut on GEMHL's three-year fixed product to 6.79%, and introduces a two-year fixed product with a rate of 6.29%.

  • GEMHL's buy-to-let foray seen as a positive move

    13 Nov 2006

    GE Money Home Lending's entry into the buy-to-let market with a 90% LTV has been praised as a bullish move by brokers.

  • Give advice on new-builds with care

    13 Nov 2006

    Around 10% of housing stock purchased at present is new-built and this is often bought prior to completion. This involves the purchaser assuming performance risk on both the contractor and developer.

  • Give clients a fair deal on protection

    13 Nov 2006

    The mortgage industry cannot stand aside from the debate as regulators have their say on the question of fairness in the payment protection market, says Bill Warren

  • Gold plating is a costly indulgence

    13 Nov 2006

    The Council of Mortgage Lenders' historically neutral attitude towards Home Information Packs, by which it has positioned itself as a "critical friend" of the initiative, has taken a backward step in recent weeks.

  • Goldsmith Williams Overseas to offer advice at Mortgage Expo

    13 Nov 2006

    Goldsmith Williams Overseas Limited (GWOL) will host Mortgage Expos first Overseas Legal Advice Centre with lawyer partners from countries including Spain, Cyprus and Turkey located in the Property Investment Pavilion.

  • Golf perk for secured business

    13 Nov 2006

    Access Broker Services has launched an incentive scheme for intermediaries who introduce secured loan business. The prize includes flights, transfers, accommodation and entrance tickets to the 2007 Masters golf tournament in Augusta, US.

  • Hair-raising charity stunt

    13 Nov 2006

    Kensington Mortgages' marketing team is raising cash for charity by growing facial hair.

  • HBOS rapped over Farepak donation

    13 Nov 2006

    Banking giant HBOS has been criticised for donating only £2m to Farepak customers after the Christmas hamper and voucher firm collapsed.

  • HBOS reaffirms commitment to broker sector

    13 Nov 2006

    HBOS has reaffirmed its commitment to the intermediary market and says broker distribution remains integral to its future.

  • Help through the mortgage maze

    13 Nov 2006

    Networks will take a more central role in the mortgage market of the future as brokers look for partners in an increasingly complex market, says Sally Laker

  • Heritable Bank launches new products

    15 Nov 2006

    Heritable Bank has launched two new products, one for residential single property development finance and another for short-term mortgage lending.

  • HIP pilot could run out of funds

    13 Nov 2006

    The Association of Home Information Pack Providers has warned that funding could run out for the HIPs pilot it is running across the country in conjunction with the government.

  • Home buyers flee expensive South

    13 Nov 2006

    Smartnewhomes. com says escalating house prices are pushing new home buyers out of the South of England.

  • Home-owner confidence slips

    17 Nov 2006

    According to propertyfinder.com’s latest home-owner survey confidence in the housing market slipped in November as home-buyers and sellers absorbed the news that base rates had risen to 5%, and that further increases may be on the way.

  • Homes risk of MPPI probe

    13 Nov 2006

    The Council of Mortgage Lenders has warned that vulnerable home owners risk losing their homes if the Office of Fair Trading refers mortgage payment protection ins-urance to the Competition Commission.

  • House prices are higher in spa towns

    17 Nov 2006

    Halifax has revealed that home-buyers are prepared to pay a premium to live in a spa town.

  • IDDs and affordability is a worry, says FSA

    16 Nov 2006

    The Financial Services Authority says it still has concerns about Initial Disclosure Documents, with one out of two containing five or more errors.

  • Image change to build business

    13 Nov 2006

    The Finance Planning Group has adopted a fresh image aimed at growing business across all areas of the group. The new corporate identity combined with an integrated marketing plan is intended to provide a platform to raise awareness and build a proposition to attract new customers.

  • Incredible idea gets incredible press

    13 Nov 2006

    It will undoubtedly pull in the punters but the treatment of the Abbey 5 x income product in the national media was incredible on many levels, says Sue Read

  • Independent redress plans step in the right direction says NAEA

    15 Nov 2006

    The National Association of Estate Agents has welcomed plans to bring forward legislation to provide improved arrangements for consumer advocacy and for the regulation of estate agents, as announced in the Queens speech today.

  • Industry experts to speak at Mortgage Expo

    13 Nov 2006

    A handpicked cast of leading industry experts will be headlining the seminar programme at this years Mortgage Business Expo.

  • IT should be used to help customers

    13 Nov 2006

    Technology can be a boon to brokers and clients as it speeds the mortgage process, but some lenders are using it to mask flaws in their propositions, says Richard Coulson

  • KGB adds to its broker base

    17 Nov 2006

    KGB Packaging has announced outstanding success at Mortgage Business Expo with the addition of more than 250 broker firms to its existing registered broker base.Managing director, Rachel Bancroft, says: “Every new KGB registered broker will be getting a visit from myself or co-director, Magnus Duke, and one of our BDMs over the coming weeks and can expect to benefit from the expertise and excellent service standards that we offer.”

  • Lancashire Mortgage Corporation launches new products

    14 Nov 2006

    Lancashire Mortgage Corporation, specialists in commercial lending and development finance, has launched a new range of products.

  • Lenders must use IT or lose brokers

    13 Nov 2006

    Easy and effective communication between brokers and lenders is vital for both parties. Using modern technology, brokers should be able to have their enquiries and applications dealt with quickly, easily and at no expense.

  • Lenders pile into high LTV

    13 Nov 2006

    Accord Mortgages and the Yorkshire have revealed that they may be releasing their own 125% LTV products after HBOS unveiled its high loan product last week.

  • Lenders raise their SVRs

    13 Nov 2006

    Nationwide and Halifax have increased their SVRs following the base rate rise. Nationwide is raising its base rate by 0.25% to 6.49% from December 1. Halifax is increasing its SVR from 6.75% to 7%.

  • Lenders rapped for ageism

    13 Nov 2006

    Lenders have been slammed by Victoria Mortgages for continuing to discriminate against borrowers on the basis of age.

  • Lenders will be taking candy from kids, next

    13 Nov 2006

    You are as old as you feel, they say.

  • Lib Dems warn of increasing debt due to rising unemployment

    16 Nov 2006

    The Liberal Democrat Party has warned that rising unemployment could result in more debt, arrears and repossessions.

  • Link Lending goes for Phoebus

    13 Nov 2006

    Bridging lender Link Lending has chosen Phoebus Software to supply its loan origination and servicing platform. Phoebus has produced a bespoke version of its software for Link's bridging loan process and further developments including online case tracking, decisions in principle and Key Fact Illustrations, are in the pipeline.

  • Linked up thinking

    13 Nov 2006

    Industry stalwarts David Johnson, Philip George and John Maclean tell Christine Toner and Robyn Hall about their plans for bridging firm Link Lending

  • LSL floats on London Stock Exchange

    17 Nov 2006

    LSL Property Services has debuted on the London Stock Exchange. In conditional dealing, the shares opened at 212p, valuing the company at £221m.

  • Marketing Brief

    13 Nov 2006

    Support is critical in the mortgage industry. Kevin Paterson's A-Z review rates the marketing material that lenders issue to help brokers with sales and business development

  • Marketwatch

    13 Nov 2006

    Swaps had a roller coaster ride last week with them initially falling before posting a sharp rise and then falling slightly, but ending up on the week.

  • MBS chooses Exweb portal

    13 Nov 2006

    Mortgage Broking Service has chosen The Exchange's Exweb portal service as its technology and e-commerce partner. All 130 advisers at MBS will have access to Exweb's services.

  • Me and my car

    13 Nov 2006

    After waving farewell to my Porsche I have entered the much more sensible world of the Mercedes CLS 500 which is large and comfortable - like my stomach, says Simon Mouncher

  • MMC links with eConveyancer

    13 Nov 2006

    eConveyancer is now available via the Mortgage Marketing Centre. This gives MMC appointed representatives access to eConveyancer's online system.

  • Money Partners launches direct-to-broker brand

    13 Nov 2006

    Money Partners has revealed the total acquisition of Residential 1 in order to launch into the direct-to-broker market through direct channel brand Money Partners Touch.

  • Moneypilot.co.uk picks Trigold as exclusive system

    15 Nov 2006

    Online financial advice provider Moneypilot.co.uk has chosen Trigold as its exclusive mortgage sourcing system.

  • More options for brokers

    13 Nov 2006

    Since statutory regulation, many more brokers are using lead generation firms to source new business but the market must be researched carefully if pitfalls are to be avoided, says Stephanie Spicer

  • Mortgage adviser jailed for vicious sex attack

    17 Nov 2006

    Arun Patnaik, a mortgage adviser from Blackpool, has been jailed for 11 ½ years after horrifically raping two prostitutes.The attacks were mimicking rapes Patnaik, 31, had seen on Internet sites, and were so gruesome they left jurors at Manchester Crown Court visibly shocked.The adviser, who has already served three years for a previous attempted rape in 1998, was described by police as one of the most dangerous sex offenders they had ever come across.

  • Mortgage fees rise in competitive market

    13 Nov 2006

    Mortgage fees could be as high as £2,700 by 2016 if they continue to creep up at the pace they've sustained over the past 10 years, according to Moneyfacts.co.uk.

  • Mortgage protection not a major concern for UK homeowners

    14 Nov 2006

    Research carried out for Bright Grey has revealed that only 11% of people in the UK consider mortgage protection a priority.

  • Mortgageangels alters fee structure

    13 Nov 2006

    Mortgageangels.co.uk has re-vamped its lead distribution online system by launching a new way of pricing its leads.

  • Mortgages PLC launches credit repair mortgage

    14 Nov 2006

    Mortgages PLC, the UK lender and subsidiary of Merrill Lynch, is launching a mortgage which allows borrowers to repair their credit record after just 12 months.

  • Mortgages PLC launches training scheme

    13 Nov 2006

    Mortgages PLC has introduced a training scheme to help develop business development managers of the future.

  • MP hails Mortgage Strategy as GE cancels repossession.

    13 Nov 2006

    MP Siobhain McDonagh has thanked Mortgage Strategy for helping save two of her constituents from repossession over a high interest load of 21.9% from GE Money.

  • MP hails Mortgage Strategy as GE cancels repossession

    13 Nov 2006

    MP SIOBHAIN McDonagh has thanked Mortgage Strategy for helping save two of her constituents from repossession over a high interest loan of 21.9% from GE Money.

  • MPLC completes securitisation

    13 Nov 2006

    Last week, Mortgages PLC completed a securitisation of £650m of mortgage assets. The bonds have been issued via its parent Merrill Lynch.

  • MPLC marketing appointment

    13 Nov 2006

    Mortgages PLC has appointed Kirsteen Gibb to the newly created role of marketing communications manager. Based in Glasgow, Gibb reports to head of marketing, Julian Wells.

  • MS commercial summit set for Pisa in June

    13 Nov 2006

    Mortgage Strategy is proud to announce the launch of the Commercial Mortgage Lending Summit. Following the success of the Mortgage Summit, the Commercial Lending Summit will take place in Italy from June 20 to 22. Just 75 delegates will attend strictly by invitation only. If you would like to get involved, for event information please email karen.hartley@centaur.co.uk and for sponsorship details email: vanessa.tole@centaur.co.uk

  • MT moves to gain a commercial edge

    13 Nov 2006

    Commercial Mortgage Solutions has joined the Mortgage Times Group's panel of commercial lenders, as the specialist market enjoys continued growth.

  • Mutuals gain access to Amber products

    13 Nov 2006

    Building society collective Mutual One has launched its Mutual One Mortgage Partnership initiative, allowing its members to offer Amber Homeloans' product range through their branches.

  • Nationwide offers chance to win trip to Copenhagen

    14 Nov 2006

    Visitors to Nationwide's stand at this year's Mortgage Expo will get the chance of winning a trip for two to Copenhagen.

  • Nationwide reports 34% increase in gross residential lending

    16 Nov 2006

    Nationwides half-year results show gross residential lending was up 34% to 14.5bn from the corresponding period last year.

  • Networks that pay ARs to join come under fire

    13 Nov 2006

    Home of Choice has accused networks that offer appointed representatives money to join of using the in- centive to mask deficient business propositions.

  • Networks to slash sub-prime lending panels, predicts Openwork

    15 Nov 2006

    Openwork has predicted that within two years networks will only include two to three sub-prime lenders as a means of enhancing customer care within the network.

  • New scoring system on way

    13 Nov 2006

    Lenders could adopt the US-style 'FICO' credit scoring system within 10 years, according to EuroCatalyst.

  • New service launches to help debt burdened Brits

    16 Nov 2006

    The Regional Money Helpline has launched as a telephone and web-based advisory service designed to help UK consumers get to grips with the nation's alarming £1.3 trillion mountain of debt.

  • NHBC teams up with MDA for HIPs

    15 Nov 2006

    MDA Advantage, a home information pack provider and NHBC, a warranty and insurance provider for new homes, are to work together, developing Home Information Packs.

  • NHER offers training for energy assessors

    13 Nov 2006

    With the June 2007 deadline for the introduction of Home Information Packs fast approaching, National Home Energy Rating has launched a training scheme for Energy Performance Certificate assessors.

  • Niche lenders get survival warning

    13 Nov 2006

    Lenders that focus solely on the specialist mortgage market are at risk of marginalisation and will struggle to survive, GMAC-RFC has warned.

  • No need to panic about high multiples

    13 Nov 2006

    There was something of a storm about the news that Abbey was increasing its income multiples and will now consider lending up to 5 x single or joint income. The media seized on this as pushing the boundaries of mortgage borrowing and posed the question as to whether this was irresponsible lending.

  • October housing market buoyant says NAEA

    16 Nov 2006

    The overall national picture for the property market in October showed a buoyant market place in advance of interest rate rises, reveals the National Association of Estate Agents.

  • OFT announces new executive director

    13 Nov 2006

    The OFT has announced the appointment of Jonathan May to the post of Executive Director of Policy and Strategy. He has also been appointed by the Secretary of State for Trade and Industry to the OFT Board.

  • OFT warns estate agent

    13 Nov 2006

    The Office of Fair Trading last week gave an official warning to the former proprietor of estate agency Homes Direct for failing to disclose his personal interest in the acquisition of a property from a client.

  • One in three chance that house prices will fall by 2010

    13 Nov 2006

    there is a one in three chance that house prices will drop by 2010, according to projections from PricewaterhouseCoopers.

  • One-year deal proves popular

    13 Nov 2006

    Beacon Homeloans says its 2.4% one-year discount mortgage is proving popular among its packaging partners and supporting intermediaries. Clive Wilson, head of sales for Beacon, says: "Our one- year discount complements our two and three-year fixed rates."

  • Paymentshield business model is for independent advisers

    13 Nov 2006

    From Harry Katz

  • Paymentshield takes more flak

    13 Nov 2006

    Paymentshield has come under further criticism from rival product providers for axing renewal commission to brokers who are no longer regulated to sell general insurance.

  • Personal Touch launches edeus to members

    13 Nov 2006

    Personal Touch Financial Services officially launched edeus to its members at its inaugural mortgage and protection forum in Birmingham last week.

  • Pink appoints Midlands BDM

    13 Nov 2006

    Pink Home Loans is expanding its sales team by appointing a new business development manager to cover the Midlands and North-West regions, increasing the team from two to three.Trevor Tait returns to Pink to cover the North-West region after a two-year break during which time he worked for a well known secured loans company.

  • Platform launches buy-to-let and self-cert products

    13 Nov 2006

    Platform, the intermediary lender of Britannia, has launched a buy-to-let three year tracker and self-cert two year tracker.

  • Please make Isabelle Kassam go away and leave us alone

    13 Nov 2006

    From Chris Gardner Why is Isabelle Kassam so bitter? Week after week she rants on about how bent this industry is. It's getting boring. Last week she was waffling on about Shabby Abbey. Why is it shabby? Can she qualify her criticism? Her opinions are not wanted or needed. Please make her go away. Chris GardnerNational & Capital Southend on Sea Essex

  • PMPA offers exclusive from Platform

    14 Nov 2006

    The Professional Mortgage Packagers Alliance is offering an exclusive from Platform.

  • Ponsford picks Advantage Barbados winner

    16 Nov 2006

    Advantage, a Morgan Stanley Group company, is sending Julie Lowe off to the luxurious Sandy Lane Spa Resort in Barbados after she was picked by Mortgage Strategy’s publisher Patrick Ponsford in a prize draw.

  • Poor pay most for credit, says McFall

    16 Nov 2006

    Poor people who get access to credit pay the highest charges for it, says Treasury Select Committee chairman John McFall.

  • Portman increases its Standard Variable Rate

    15 Nov 2006

    Portman is to increase its SVR by 0.24% to 6.99% from November 16, 2006 for new business and from December 1, 2006 for existing business. The increase reflects the Monetary Policy Committee's decision to increase the bank base rate by 0.25% to 5.00%. The society is also reviewing its savings rates and an announcement regarding that product range will be made shortly.

  • Portman protesters vow to fight on

    13 Nov 2006

    THE DISSIDENT action group protesting against Portman's proposed merger with Nationwide has rejected offers of an armistice and warns it will topple the board before it lets the union takeplace. The action group, called Members Against the Takeover, aims to convince enough Portman members to vote no in the ballot on the merger next May, and has launched a national advertising campaign to draw attention to its goal.

  • Primrose launches 99 valuation and legal fees deal

    15 Nov 2006

    Primrose is offering a 99 valuation and legal fees deal from today to coincide with the launch of its online service Evaluate at the Mortgage Business Expo.

  • Quick Bridge to launch at Expo

    13 Nov 2006

    Quick Bridge is to launch its bridging service at the London Mortgage Business Expo at Earls Court this week. As part of the launch package the company will give away a Sony PSP to every broker that successfully completes a deal before December 14. Brokers should visit www.quick bridge.com to register.

  • Rate rise means clients need help

    13 Nov 2006

    The recent media attention on mortgages combined with the hike in base rates means this is a good time for brokers to get back in contact with their clients, says Drew Wotherspoon

  • Retirees downsize to fund new life

    13 Nov 2006

    Research from Linden Homes shows retirees are no longer downsizing purely for practical reasons, but rather to use the equity they have built up in their property to fund a new phase of life including holidays and college courses.

  • RICS disappointed with Queen’s speech

    15 Nov 2006

    Steven Gould, director of regulation at The Royal Institution of Chartered Surveyors says the government has missed an opportunity to impose regulation for estate agents in the Queen’s speech today.

  • Rooftop threatened by securitisation downgrade

    16 Nov 2006

    Rooftop Mortgages is facing another potential downgrade of its securitisation following Fitch Ratings putting out a negative ratings watch.

  • Salt launches buy-to-let range

    14 Nov 2006

    Salt has launched a range of buy-to-let mortgages to the intermediary market.

  • Salt launches specialist lines

    13 Nov 2006

    The Derbyshire is launching commercial and buy-to-let ranges through its subsidiary Salt this week.

  • Self-cert commercial deal unveiled

    13 Nov 2006

    InterBay is launching a five-year true self-cert commercial product, along with a new website and logo.

  • SHIP comes of age as 21st member signs up

    13 Nov 2006

    Stonehaven has been approved as the 21st member of equity release trade body Safe Home Income Plans.

  • Single advance - the top threeDrawdown - the top threehigh ltv - the top two

    13 Nov 2006

    Annualised Cost, £50,000 loanLender Rate Compounds rate after 15 yearsJust Retirement5.99 Annually 5.99 £119,658Standard Life6.06 Annually 6.06 £120,849GE Life6.10 Annually 6.10 £121,535Annualised Cost, £50,000 loanLender Rate Compounds rate after 15 yearsJust Retirement5.99 Annually 5.99 £119,658Standard Life6.06 Annually 6.06 £120,849Prudential6.02 Monthly 6.19 £123,072Annualised Cost, £50,000 loanLender ...

  • Sourcing systems can't handle B2L

    13 Nov 2006

    It is becoming increasingly difficult for mortgage advisers to keep on top of the buy-to-let market, with new lenders venturing into the sector, constant rate and criteria changes, incentives such as free valuation and free legals and even 100% rental calculations. How can advisers find the best products for their clients?

  • Specialists widen the funding options

    13 Nov 2006

    New funding techniques have been central to the boom in mortgage lending over the past 10 years. While they generally do not impact directly on the daily lives of intermediaries, it is important that we all have a basic awareness of the pro-cesses involved.

  • Speeding up bridging loans online

    13 Nov 2006

    Bridging finance lender United Trust Bank has launched an online system that produces offers and decisions in principle for residential bridging loans.

  • SPML ditches multiples

    13 Nov 2006

    Southern Pacific Mortgage Limited has ditched income multiples in favour of a debt to income ratio affordability calculation.

  • Stonehaven to join SHIP

    13 Nov 2006

    Safe Home Income Plans, the UK equity release industry body has welcomed Stonehaven Equity Release to its group. SHIP represents over 90% of the equity release sector and enforces code of practice and professional rules of conduct bind all of its members. All providers who apply to join SHIP must have products and processes that comply exactly with the SHIP code and rules.

  • Straw slams Farepak for blaming HBOS

    17 Nov 2006

    Commons leader Jack Straw has slammed shamed Farepak owner Sir Clive Thompson after he blamed the fall of the Christmas hamper firm on HBOS.Sir Clive was quoted to have said that HBOS were hanging the firm out to dry. Straw deemed this comment shameless as Farepak were well aware of their financial difficulties even though they continued to advertise their product.Jim Devine, MP, says Sir Clive is the unacceptable face of capitalism. Sir Clive is currently laying low in Buenos Aires.

  • Stroud & Swindon launches new range of two-year fixes

    15 Nov 2006

    Stroud & Swindon has launched a new range of two-year fixed rate products.

  • Swift expands head office

    14 Nov 2006

    Swift, the specialist first and second charge lender is expanding its head office in Brentwood to meet the requirements of new customers and support a rapid increase in business volumes.

  • Technology will bring benefits to all

    13 Nov 2006

    The increased use of technology by lenders may lead to the eradication of application processing problems which would be good news for brokers and clients, says Frank Eve

  • Tenet appoints executive director

    13 Nov 2006

    The Tenet Group has appointed Rupert Robson as non-executive member of the Tenet main board.

  • The Mortgage Mole

    13 Nov 2006

    Digging the dirt in the mortgage world

  • The regulation phoney war is over

    13 Nov 2006

    I agree with Isabelle Kassam about Christmas (Mortgage Strategy October 30). So much so that the C word is banned in my house for now.

  • This brainwave could lead to self-harm

    13 Nov 2006

    Rumour has it that there's been a big falling out within the Abbey's marketing team. It seems that one faction wanted to call its new mortgage offering the 'Victor Meldrew' range while another felt the 'Andy Millman' mortgage' more appropriate.

  • This move by Paymentshield seems to smack of despair

    13 Nov 2006

    From Paul Thompson

  • This Week's Dilemma...

    13 Nov 2006

    I'm getting more and more enquiries of a commercial or semi-commercial nature but this is not my speciality. I don't want to turn this business away because it would be additional income and a good way to diversify. But learning how to handle commercial mortgages will take valuable time away from my mainstream business which needs my full attention, and I can't afford to recruit an experienced commercial adviser without being sure of getting enough commercial business. How can I square ...

  • Time we all stood up to the industry bullies

    13 Nov 2006

    It is not very often that I have to issue health warnings to intermediaries, but a couple of situations have arisen this week that force me to do so. My warning is to choose product provider partners with care.

  • Title deed

    13 Nov 2006

    When it comes to names, not many are more to the point than Mortgages PLC. But why choose such a generic name? Trevor Pothecary, group chief executive, and one of the founding fathers of the business, explains.

  • TMB says applications are up 90%

    17 Nov 2006

    The Mortgage Business has reported that application submissions are up 90% and completions up 86% on last year.

  • TMB unveils superhero logo

    15 Nov 2006

    The Mortgage Business has unveiled a new logo, calendar and supporting cast of superhero characters at the Mortgage Business Expo.

  • TMO chosen as sole packager

    13 Nov 2006

    The Mortgage Alliance has chosen The Mortgage Operation to be its sole packager.

  • Tories pledge to bring transparency into state spending

    15 Nov 2006

    The Conservative Party has unveiled a new scheme enabling taxpayers to discover how their tax money is spent by the government.

  • Transparency key issue, not commission says FP Advance

    15 Nov 2006

    Transparency is the issue rather than commission, says FP Advance, provider of transition planning services to UK adviser firms.

  • Trustguard appoints staff

    17 Nov 2006

    Trustguard Credit Services Ltd has appointed of six new staff members. The new faces at Trustguard are Chris Bishop, who has joined as mortgage underwriter, Jason Spice, loan relationship manager, trainee mortgage underwriters Craig Smith and Lee Sullivan and Laura Moulton and Tracy Morgan, who are appointed loan underwriters. Training of the new staff will be overseen by Heidi Rice, who has been promoted to the position of group training manager.

  • Trustguard expands inhouse underwriting team

    13 Nov 2006

    Trustguard is planning to expand its inhouse underwriting team because of rising business levels.

  • UK Coal to sell brownfield sites for development

    13 Nov 2006

    UK Coal is poised to sell up to 49,500 acres of brown field sites around its mines, both active and closed.

  • Validus to launch French mortgages arm

    13 Nov 2006

    Validus Invest has launched a financial services arm handling French mortgages, effective from November 13.

  • We know the value of brokers so we pay them efficiently

    13 Nov 2006

    From Karen Babington

  • Wisdom of age and energy of youth is the best combination

    13 Nov 2006

    From Paul Rumbold

  • Woolwich clarifies position

    13 Nov 2006

    Woolwich has defended its decision to contact brokers' clients directly if they need more information on a case.

  • Woolwich improves buy-to-let proposition

    13 Nov 2006

    Woolwich has announced that it is improving its buy-to-let proposition by simplifying documentation requirements.

  • Woolwich launches combined fixed-rate and lifetime tracker

    17 Nov 2006

    Woolwich is to introduce a product that is a combination of fixed rate and lifetime tracker.

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