View more on these topics

TMBC to do commercial packaging for Sesame

The Business Mortgage Company has signed an exclusive commercial mortgage packaging agreement with Sesame.

The deal means the network’s appointed representatives can package commercial mortgages and still use their Initial Disclosure Documents and the Sesame letterhead when dealing with the applications.

While ARs will be able to go off-panel and use other packagers for commercial mortgages, they will not be allowed to use anything that associates them with Sesame if they do.

Andy Young, former head of mortgages at Sesame and now managing director of TBMC, says the arrangement is a sign of rising interest from brokers in commercial mortgages.

He says: “There’s an enormous desire to know about commercial loans. Brokers see it as an opportunity but don’t know who to go to.”

He adds there was also a worry that if a commercial deal went wrong it would expose Sesame to compliance risks. This agreement allows ARs to get into commercial mortgages without exposing the network to legal problems.

Andrew Oliver, head of proposition delivery at Sesame, says: “TBMC will take the hassle out of commercial business. Our members will get a commercial mortgage written in an attractive way, with a competitive proc fee.”


Help for north east businesses

Local businesses are being encouraged to take advantage of the free help and advice on offer in the region from HM Revenue & Customs.HMRC Business Support Teams are holding a series of workshops across the North East to support new and small businesses and help them get to grips with the requirements of setting up […]

GMAC-RFC announces seventh portfolio sale to Britannia

GMAC-RFC, the UKs 10th largest mortgage lender, announced its seventh portfolio sale worth circa 461m to Britannia Treasury Services, the structured finance function of Britannia. This blended portfolio sale is due to complete on the September 30 2005 and will take the total value of assets traded to Britannia to 1.73bn. Craig Beresford, head of […]

Optoma extends service range through Trigold

Optoma Broker Solutions has extended its service offering through the Trigold system, by offering key features documentation on all of its exclusive products, available for download. Optoma currently has more than 650 exclusive products listed on Trigold. Directly Authorised Intermediaries who submit business to Optoma can receive a free customized Prospector AAA sourcing system paid […]

Asking prices on the up

A degree of optimism has returned to the housing market as the house price index indicates an increase in asking prices.Over 100,000 sellers entering the market have pushed up the average asking price by 0.5%, which works out as 941. Asking prices had fallen in the previous three months by 3,235, which tempted buyers […]


News and expert analysis straight to your inbox

Sign up