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BM Solutions to pull all self-cert sub-prime deals

BM Solutions will withdraw all of its self-certification sub-prime mortgages on Sunday to help reduce its business volumes.

It is also reducing the maximum LTV on all status sub-prime deals from 90% to 80%.

Tim Hague, managing director of BM, says: “It’s not a credit issue, it’s about managing our volumes.

“We’ve tried using pricing as a lever and it just wasn’t working, so we’re having to be a bit harder on our lending criteria, which isn’t ideal but it’s something we’re being forced to do.”


Praxis joins PMPA

Praxis has joined the Professional Mortgage Packagers Alliance, increasing the organisation’s membership to 15. Birmingham-based Praxis joins, among others, Countrywide Mortgage Centre, Premier Mortgage Packagers, and Platinum Lending.Vic Jannels, PMPA’s chairman, says: “From our discussions with our lender panel we are aware that lenders are looking for strong relationships with larger distributors that deliver quality […]

New products deserve a fair hearing

We must resist the temptation to criticise the new mortgage products that lenders are already working on to meet consumers’ needs in the prevailing market conditions, says Sally Laker

CRM system is launched

The Exchange is launching a customer relationship management system based on its back office programme, Officeweb. The system, developed in partnership will Callmedia, is aimed at call centres and can be tailored to meet the demands of a variety of firms.

Brokers realign business models in line with market change, says GE

Brokers have been praised for realigning their business models to capitalise on the changing market conditions by GE Money Home Lending.Anthony Radford, sales director at the lender, says: “Brokers’ alertness to anticipated changes in the industry will ensure they are prepared to navigate changing market conditions over the next six months. “With the support of […]

Finance is only one hurdle for small developers

The housebuilding market in its current form simply isn’t working. We are completely over-reliant on the biggest players in the industry – the largest nine are responsible for more than 50 per cent of the new homes built in the UK. But there is a reluctance to do more, particularly in this uncertain post-Brexit world. And with […]


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