Mortgage Strategy
15 November 2004

  • A View from the floor

    15 Nov 2004

    Alison Rolls, head of communications at Norwich and Peterborough says people can't start making their money work for them too early

  • A website's no use if people can't find it

    15 Nov 2004

    Hopefully most of you will have caught your breath now Mortgage Day has come and gone and may just have time to consider things other than Key Facts Illustrations, appointed representatives and direct authorisation.

  • A&L goes green

    17 Nov 2004

    Alliance & Leicester now obtains all its electricity with environmentally friendly power.

  • A&L sparks race to reprice fixes

    15 Nov 2004

    Alliance & Leicester has launched a five-year fixed rate at 4.99%, signalling the start of lenders beginning to reprice their ranges more competitively after Mortgage Day.

  • Abbey relaunches fixed rates

    15 Nov 2004

    Abbey has re-launched its fixed rate mortgage range.

  • Advertising rules could kill off stepped deals

    15 Nov 2004

    Stepped mortgage products may be too complicated to advertise under regulation and could disappear from the market.

  • Affinity warns against get rich quick schemes

    16 Nov 2004

    Affinity is warning potential investors to carry out extensive research and seek independent advice before taking the plunge into the buy-to-let property investment market.

  • Alliance & Leicester

    15 Nov 2004

    ...

  • Amber Homeloans Ltd

    15 Nov 2004

    ...

  • B&W develops its adverse line-up

    15 Nov 2004

    Bristol & West Mortgages has expanded its relationship with Mortgages PLC in developing its adverse product range.

  • Banco Santander takeover of Abbey complete

    15 Nov 2004

    Abbey and Santander have announced that the scheme has now been implemented and Abbey is now a subsidiary of Santander.

  • Be upfront about regulatory hold-ups

    15 Nov 2004

    Inform your customers that normal service is being affected by the process of implementing regulation and prepare them for unexpected delays and possible problems, says Neal Smith

  • Big four banks exploit consumers in Northern Ireland

    15 Nov 2004

    Which? has presented its third super-complaint to theOffice of Fair Trading, regarding consumer choice in Northern Ireland.

  • Blue Sky

    15 Nov 2004

    The office conference room is small and crowded. A sign on a chalkboard states: "There are no stupid ideas, only stupid people." Each person has an itemised agenda of points to be covered during this brainstorming session. The manager keeps tapping at his wristwatch to remind employees of the time they are wasting. He criticises most ideas as "impractical in our corporate environment."

  • BM Solutions hits the market with flexible switch deals

    19 Nov 2004

    BM Solutions has today launched a range of top buy-to-let deals.

  • Britons want a Spanish home in the sun

    17 Nov 2004

    Research by Norwich and Peterborough shows that 75% of people surveyed would opt to buy a property abroad if they could.

  • Brits in their 20s ready to plunge into property

    15 Nov 2004

    Brits in their twenties are the most buoyant about buying a property within the next two years reveals Alliance & Leicester Mortgage's movingimproving index.

  • Brokers can issue multiple KFIs to clients

    15 Nov 2004

    Brokers are allowed to give clients more than one Key Facts Illustration and do not have to restrict their advice to a single product, contrary to what some in the market believe.

  • Brokers must mind the protection gap

    15 Nov 2004

    Encouraging borrowers to cover mortgage payments alone leaves a gap in their cover

  • Brokers must push for integrated future

    15 Nov 2004

    While lenders still see competitive advantage in keeping their technology to themselves the industry cannot adopt the integrated paperless approach it needs under the FSA, says Frank Eve

  • Brokers slam BMS efficiency

    15 Nov 2004

    Some intermediaries say they have found it impossible to do business with BM Solutions since Mortgage Day and are experiencing difficulty getting feedback from the lender on what the problem is.

  • Brokers slam BMS efficiency

    15 Nov 2004

    Some intermediaries say they have found it impossible to do business with BM Solutions since Mortgage Day and are experiencing difficulty getting feedback from the lender on what the problem is.

  • Brokers still in dark over financial promotions

    19 Nov 2004

    Three weeks after the introduction of mortgage regulation, it appears that many mortgage brokers are still unaware of the full impact of the rules regarding financial promotions.

  • C&G's KFI problems resolved

    15 Nov 2004

    Cheltenham & Gloucester says problems with the production of its Key Facts Illustration information booklets have been resolved and that it is no longer experiencing problems with the KFIs themselves.

  • Charcol launches five-year capped tracker

    17 Nov 2004

    Charcol is offering an exclusive, market-leading, five-year (to November 30 2009) capped tracker mortgage at Bank of England base rate plus 0.64%, giving a current pay rate of 5.39%, 6.3% APR, with a cap of 5.89%.

  • Charcol predicts improved affordability

    18 Nov 2004

    Charcol has predicted that with falling fixed rates and the strong likelihood that the base rate has peaked, most mortgages will become even more affordable.

  • Charcol responds to CML figures

    18 Nov 2004

    Charcol has warned that the latest figures released by the Council of Mortgage Lenders should not cause panic.

  • Claim that A&L was ready for FSA regulation amazes me

    15 Nov 2004

    From Kevin Paterson

  • Clients are only interested in three pieces of information

    15 Nov 2004

    From Paul Omerod

  • CML calls for MPPI tax to be dropped

    15 Nov 2004

    The Council of Mortgage Lenders is urging the government to consider removing the tax on mortgage payment protection insurance.

  • CMLS says start to regulation successful

    18 Nov 2004

    The Complete Network says it has had a successful start to trading under FSA regulation, with positive feedback from AR network members.

  • Confidence prevails at Mortgage Expo

    19 Nov 2004

    Over 5,000 visitors attended Mortgage Business Expo 2004 in Londons Earls Court two this week, showing the industry is alive and well after M-Day.

  • Confusion over status of commercial mortgages

    15 Nov 2004

    Abbey has warned that lenders and brokers are confused about which commercial mortgage transactions are regulated.

  • Create conditions to spur creativity

    15 Nov 2004

    Richard Howells, head of mortgages, Bankhall Mortgages, says managers must work to provide the sort of environment that encourages talented members of staff to flourish

  • Curriculum Vitae - Tom Parker

    15 Nov 2004

    "If you're not a fan of New Orleans jazz you don't know what you're missing"

  • D&D Homecare to join the Source panel of GI providers

    16 Nov 2004

    D&D Homecare has agreed terms with Source Software to provide a number of mortgage and payment protection policies to the Source panel.

  • Dear Delia

    15 Nov 2004

    Mr and Mrs Watkins have a 40,000 mortgage with a sub-prime lender and their property is valued at 220,000. They want to raise 35,000 for home improvements. Unfortunately, while their mortgage is up to date, Mr Watkins has got into the habit of paying it every four months. This means their credit history shows they have missed eight payments in the past 12. They have no CCJs or defaults and their income will easily cover the loan. They also have a buy-to-let property with 100,000 of equity ...

  • Despite the warnings, companies are breaking rules on ads

    15 Nov 2004

    Letter of the week - From Brian Melling

  • Do the many problems and glitches show the industry has yet to get to grips with FSA regime?

    15 Nov 2004

    Two leading brokers discuss whether the early problems thrown up by regulation are indicative of an industry that was underprepared.

  • eMoneyfacts improves content and usability

    18 Nov 2004

    eMoneyfacts - the intermediary portal - has been made easier to use and has had significant amounts of content added.

  • Endowment compensation calculator launched

    17 Nov 2004

    Huntswood Outsourcing, a regulatory and compliance specialist, is to launch a low cost calculator for the mortgage endowment compensation process.

  • Essex men and women top owner occupation charts

    19 Nov 2004

    Research from Halifax shows that the highest level of owner occupation in the UK is to be found in Essex.

  • Financial health matters

    15 Nov 2004

    Amid the slowdown in the housing market, I bought a new home. The process was relatively painless despite nightmare stories of chains up to ten people long, unreasonable demands by vendors and unreliable buyers.

  • FMO launches fast track CeMAP training course

    15 Nov 2004

    First Mortgage Options has been inundated with demand for CeMAP training courses post M-Day and is running a series of its three and four-day intensive fast track CeMAP in January to meet demand.

  • Freedom reports record growth

    15 Nov 2004

    Freedom Finance has reported another year of record growth with profits increasing from 6 million EBITDA to 11 million on a turnover of 36.6 million.

  • FSA appoints Regulatory Decisions chairman

    19 Nov 2004

    The Financial Services Authority has appointed Tim Herrington as chairman of the Regulatory Decisions Committee (RDC).

  • FSA denies its website includes non-compliant wording

    15 Nov 2004

    The Financial Services Authority has rebuffed claims that its website is not compliant.

  • FSCS won't cover interim brokers

    15 Nov 2004

    Firms with interim authorisation will not be covered by the Financial Services Compensation Scheme, leaving customers without protection if they cease to trade.

  • FSSC scheme proves training increases profits

    19 Nov 2004

    Results out from a scheme run by the Financial Services Skills Council show that training of staff in the financial sector produces a significant increase in business.

  • GMAC-RFC changes buy-to-let range

    19 Nov 2004

    GMAC-RFC has made changes to its buy-to-let range effective from November 19.

  • GMAC-RFC report explodes sub-prime myths

    19 Nov 2004

    Research sponsored by GMAC-RFC and conducted by NOP has demonstrated the rehabilitative effect obtaining a mortgage has on borrowers.

  • Halifax withdraws web mistake product

    15 Nov 2004

    Halifax has sparked anger among brokers by withdrawing a product that was put on its website by mistake.

  • Heron says non-FSA firms are not heading for B2L

    15 Nov 2004

    John Heron has described claims that unregulated brokers would run for cover in the buy-to-let market as "a myth".

  • High Street upgrades to SDS MAPS

    15 Nov 2004

    High Street Home Loans, a division of GMAC RFC, has purchased and installed the MAPS software package from SDS Applications.

  • Home content now averages 44,500

    15 Nov 2004

    A typical family home in the UK now contains 44,447 worth of possessions, according to insurer MORETHN's annual Home Contents Index 2004.

  • Hometrack survey reports fifth consecutive fall

    19 Nov 2004

    The Hometrack November survey of the national housing market reports a fall of 0.6% for the second consecutive month, the fifth month running that house prices have fallen.

  • House prices down, reveals RICS

    16 Nov 2004

    House prices continue to fall nationwide,the Royal Institution of Chartered Surveyors reveals in its latest UK housing market survey.

  • IMLA appoints Tim Dawson as chairman

    18 Nov 2004

    The Intermediary Mortgage Lenders Association has appointed Tim Dawson, managing director of Mortgage Express, as its next chairman.

  • IMLA urges lenders to support intermediaries

    19 Nov 2004

    The Intermediary Mortgage Lenders Association has called on lenders to provide support to intermediaries by maintaining training and competence standards.

  • In a spin

    15 Nov 2004

    The mortgage industry has been in the grip of a whirlwind of confusion in the first fortnight of FSA regulation with IT problems causing KFI chaos and the product offering itself being distorted. Helen McCormick reports from the eye of the storm

  • Interim status is not a soft option

    15 Nov 2004

    Interim authorisation does not represent an 11th hour reprieve for firms that couldn't be bothered to do the work to get themselves authorised in time, says Ben Stafford

  • Internet Insite

    15 Nov 2004

    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, lenders, mortgage clubs, mortgage networks and packagers

  • Kensington packager code improves standards

    15 Nov 2004

    After just two weeks in the market Kensington Mortgages says that its packager code of conduct is going well. Kensington launched its Packager code to complement its existing packager agreement on October 31.

  • Labour must talk to the professionals What the government should do

    15 Nov 2004

    The CML's pre-Budget submission suggests the government should set up a ministerial housing market committee to liase with the industry on policy, says Bernard Clarke

  • Lenders focus on boosting business

    15 Nov 2004

    Lenders have begun to review their product ranges as they look to increase business levels after the post-regulation lull.

  • Lending falls again in October, says CML

    18 Nov 2004

    The Council of Mortgage Lenders' latest figures show that gross lending totalled 23.3bn in October, with loans for house purchase falling for the third month in a row.

  • LifeQuote opens up service

    15 Nov 2004

    Skipton subsidiary LifeQuote is this week making its life and critical illness Express Underwriting service available to intermediaries across the market.

  • Market watch

    15 Nov 2004

    Swaps surged at the start of last week before falling back below the previous week's level.

  • Marketing brief

    15 Nov 2004

    Support is critical in the mortgage industry. Jeff Sutherland-Kay's A-Z review rates the marketing material that support service providers issue to help brokers with sales and business development

  • Merrill Lynch says base rates to stay at 4.75%

    15 Nov 2004

    Merrill Lynch, parent of sub-prime lender Mortgages PLC, says that while it does not expect the Bank of England to raise interest rates it does not expect cuts for the foreseeable future.

  • MFB reacts to RICS housing market survey

    16 Nov 2004

    Mortgages for Business says a continuing drop in house prices may lead to an increased demand for rented property.

  • Moneysupermarket.com responds to changes

    16 Nov 2004

    Moneysupermarket.com has responded to changes to the Banking Code that were announced on November 12.

  • More lenders commit to MTE

    18 Nov 2004

    The Mortgage Trading Exchange has received the commitment of a host of new lenders, whilst other lenders extended their accessibility, providing a major boost to the electronic platform.

  • Mortgage Excellence signs Dixons deal

    19 Nov 2004

    Independent mortgage provider Mortgage Excellence has signed a distribution trial with the Dixons Group.

  • Mortgage Express captures fifth of lifetime market

    16 Nov 2004

    Mortgage Express calculates that it now has over 20% of the lifetime mortgage market, and over 35% of intermediary lifetime sales.

  • Mortgage Strategy is the cream of crop

    15 Nov 2004

    Mortgage Strategy was crowned Personal Finance Trade Magazine of the Year at the Bradford & Bingley Personal Finance Media Awards last week.

  • Mortgageforce makes CBI business award shortlist

    15 Nov 2004

    Mortgageforce has been shortlisted in the Confederation of British Industry's Growing Business Awards, which have been described by chancellor Gordon Brown as the 'premier showcase of enterprise in the UK'.

  • Mortgageforce unveils equity release advice brand

    15 Nov 2004

    National broker franchise, mortgageforce, has unveiled the brand of its new equity release advice service as Autumn Mortgages. The brand is on course to be launched early next year.

  • Myth of the missing 3,000 brokers

    15 Nov 2004

    When the statistics are analysed they show that a relatively small number of broker firms remain unaccounted for rather than the widely-quoted figure of 3,300, says Richard Griffiths

  • NAEA responds to Housing Bill decision

    18 Nov 2004

    The National Association of Estate Agents has expressed its disappointment at the latest Housing Bill decision.

  • Nationwide conducts research on property turn offs

    15 Nov 2004

    Nationwide has conducted research amongst potential home buyers to understand what turns them on and puts them off properties for sale.

  • Nationwide gains 13.7% market share

    19 Nov 2004

    Nationwide has gained a 13.7% market share of net lending, up from the Societys par share of 8.6%.

  • Nearly 10,000 apps for GI authorisation

    16 Nov 2004

    The FSA today reported that, as of 11 November, it had received 13905 registrations from the general insurance sector to obtain an application pack and 9559 applications for authorisation.

  • Networks and lenders row over responsibility for DAs

    15 Nov 2004

    Networks are facing a legal battle with lenders which say networks should take responsibility for directly authorised advisers.

  • New fixed rates from BM Solutions

    15 Nov 2004

    BM Solutions has enhanced its self-cert range with a selection of two and five year fixed rates.

  • Newcastle offers two-year property bond

    19 Nov 2004

    Newcastle is offering investors an opportunity to capitalise on a fall in house prices via a new two-year property bond, called the Guaranteed Short Term Property Options Bond.

  • Newcastle relaunches mortgage range

    18 Nov 2004

    The Newcastle has re-launched its full mortgage range with a suite of products.

  • Norwich Union raises commission on lifetime business

    15 Nov 2004

    Norwich Union is changing commission rates for IFAs who write lifetime mortgage business.

  • On the beat

    15 Nov 2004

    I have made it a point in this column to avoid the procedural issues surrounding regulation and now the witching hour has passed I have no intention of changing.

  • PAA changes ensure compliance

    15 Nov 2004

    Professional Adviser Alliance has gone live with alterations to ensure it is fully compliant.

  • Paymentcare launches GI service for brokers

    16 Nov 2004

    Paymentcare has launched a new service specifically for brokers that dont want the hassle of dealing with general insurance products, but likewise dont want to leave this valuable income source to lenders.

  • PFS members to benefit from PII deal

    18 Nov 2004

    Members of the Personal Finance Society will be able to benefit from favourable PII terms when it is launched on January 1 2005.

  • Pink to add First Nat to panel

    15 Nov 2004

    Pink is drawing up plans to add First National to its panel of branded lenders early next year.

  • PISCES appoints Barnett to chair working group

    15 Nov 2004

    Richard Barnett, senior partner of conveyancing solicitors, Barnetts, has been appointed as chairman of PISCES' Lenders Conveyancing Workgroup.

  • Play a round with MS for charity

    15 Nov 2004

    Mortgage Strategy has teamed up with the Variety Club of Great Britain to stage the ultimate golf challenge in 2005.

  • Portman

    15 Nov 2004

    ...

  • Pownall to be the new voice of B&B

    15 Nov 2004

    Duncan Pownall, senior consultant at Towry Law Mortgage Services, has quit to work alongside David Bitner at Bradford & Bingley.

  • Practical issue of HIPs concerns CML

    18 Nov 2004

    The Council of Mortgage Lenders has urged the government to put the political process of the Housing Bill behind it and look ahead to the real practical issues of implementation.

  • Prudent Britons saving for the festive season

    15 Nov 2004

    We may bemoan Christmas lights going up early in the high street, but one in five Brits has been saving for Christmas since August wanting to protect themselves from a festive credit card hangover.

  • Questions must be asked about chaos

    15 Nov 2004

    We're just a little over two weeks into regulation and still some sectors of the market appear to be in a whirlwind of chaos. Serious questions need to be asked at the most senior levels as to how this situation has been allowed to develop. After all, it's not as if Mortgage Day arrived out of the blue.

  • Reason why MMN isn't yet listed on FSA register

    15 Nov 2004

    From Clive Watkins

  • Regulation could cost 500m

    15 Nov 2004

    The chairman of the Building Societies Association says the cost of regulation for lenders will hit the 500m mark in the first year - higher than previous estimates.

  • Royal London members back board proposals

    19 Nov 2004

    Members of Royal London, the mutual financial services company, voted in favour of changes to the companys Articles of Association at an EGM held in London.

  • Skipton

    15 Nov 2004

    ...

  • Skipton re-launches 3-year capped rate

    15 Nov 2004

    Skipton tomorrow re-launches its 3-year capped rate mortgage by reducing the cap and the initial rate.

  • Society of Mortgage Professionals admits first members

    15 Nov 2004

    Qualified members of the Chartered Insurance Institutes new Society of Mortgage Professionals will be able to use the designation Cert CII (MP), the Society said earlier today.

  • SPF launches exclusive investment product

    18 Nov 2004

    Savills Private Finance has launched an exclusive buy-to-let fixed-rate product.

  • Spicerhaart welcomes HIP decision

    18 Nov 2004

    Spicerhaart has heralded the passing of the Housing Bill and says it will assist homebuyers.

  • State Securities promotes Graham

    15 Nov 2004

    State Securities has announced that Eddie Graham has been promoted to senior account manager within the commercial mortgage team.

  • Technology will add 1000s to home & contents

    15 Nov 2004

    Halifax General Insurance is warning that new technology will add 1,000's to home and contents value.

  • The FSA must be fair and clear up misleading points

    15 Nov 2004

    From Danny Lovey

  • The Mortgage Mole

    15 Nov 2004

    Digging the dirt in the mortgage world

  • This is a customer service announcement

    18 Nov 2004

    I was on the receiving end of great customer service from a financial services company recently, when the company concerned alerted me to a problem that could have cost me hundreds of pounds in charges or to put it another way, could have earned them hundreds of pounds in charges.

  • TMO launches debt consolidation self-cert

    15 Nov 2004

    The Mortgage Operation has launched a debt consolidation self-cert product funded by Kensington Mortgages.

  • Trigold and Focus form strategic partnership

    16 Nov 2004

    Trigold and Focus Business Solutions have announced a strategic partnership to create an e-commerce community within the mortgage market.

  • Trigold problems can be solved via website

    15 Nov 2004

    Trigold is advising brokers that the majority of their complaints and problems with its sourcing system can be dealt with via its website.

  • UCB Home Loans to launch lower fixed rates

    15 Nov 2004

    UCB Home Loans is launching new fixed rate mortgage deals from this Wednesday.

  • UK property market returns to reality

    19 Nov 2004

    Mortgage Talk says statistics from Halifax showing that house prices fell by 1.1% in October herald a return to realism for the UK property market.

  • Veritape gives brokers access to call recording

    16 Nov 2004

    Veritape will be launching a new, simple-to-use call recording system at the forthcoming London Mortgage Business Expo.

  • Vesta boosts salesforce

    16 Nov 2004

    Vesta Packaging is boosting the size of its salesforce in a move designed to increase mortgage sales by up to 50% during 2005.

  • walkermorris and TMC launches service

    19 Nov 2004

    walkermorris OnLine has developed a service to slash the legal cost of remortgaging.

  • Websky software saves money for private landlords

    15 Nov 2004

    Websky has launched a software solution designed to save private landlords money.

  • What's the point in us being ready if lenders aren't?

    15 Nov 2004

    From Nigel Pamment

  • With Mortgage Day over, are you compliant when driving home?

    18 Nov 2004

    On the spot fines, penalty points, endorsements, strict liability, discretionary or mandatory disqualification. Just some of the terms which solicitors are asked to advise about on a daily basis. More often than not the advice is clear cut and the instructions, if any, are simply to steer clients through the paperwork before arriving at the Magistrates Court to mitigate the offence or dispute it in its entirety.

  • Would your firm be able to resume business swiftly after a disaster?

    15 Nov 2004

    Nearly one in five businesses suffer a major disruption each year and as the terrorist threat adds to security fears, continuity plans are increasingly important, says Rachel Blackmore

  • Yorkshire reduces two-year fixed rate mortgages

    19 Nov 2004

    Yorkshire has reduced the interest rate on its two-year fixed rate mortgages.

Poll

Do you recommend fast-track to customers?

Current Issue

petitions
debate
Define Advice
Advanced search