View more on these topics

Checkmate secures three major contracts

Checkmate Mortgages has secured three major contracts to support its launch and make use of the latest technology and fraud protection products.

The lender, founded by industry heavyweight Stephen Knight, has signed contracts with DPR, Getronics and Experian.

DPR is charged with developing Checkmate’s point-of-sale offer system, Getronics will offer IT support services, while Experian will supply a range of fraud detection tools.

Barry Searle, managing director of operations at Checkmate, says: “We have worked closely with KPMG IT Consulting to select like-minded companies to provide technology and work is now underway to deliver a system to coincide with our launch in 2009.”

Checkmate has also signed a lease on new premises in Farnborough, Hampshire. This will act as the lender’s operations centre and existing staff have been based there from Monday.

The lender will maintain its central London office.

Searle adds: “We are now in a position to be up and running with a full operations centre as soon as market conditions permit.”


The closed shop strategy

Bank of England governor Mervyn King has warned that the economy will go into a steep recession unless commercial lenders resume normal lending rates. However, there is an obvious reluctance to do this as no company wants to be left holding the baby.

FSA freezes assets of NI broker

The Financial Services Authority has frozen the assets of a broker from Noel Heaney, a broker from Northern Ireland, for serious systems and controls failures.

CML pleas for honest assessment of challenges ahead

The Council of Mortgage Lenders will use its annual conference today to plea for an honest assessment of the challenges facing the lending industry. The CML agrees with Mervyn King that the most pressing problem now is to get institutions lending again. But it says there are inherent conflicts in demands to improve the flow […]


News and expert analysis straight to your inbox

Sign up