View more on these topics

Bankhall and Paymenshield control £30bn worth of lending

Bankhall and Paymentshield have revealed that they now control mortgage lending of in excess of £30bn and have a combined membership base of over 36,000 intermediaries as a result of their strategic alliance.

Bankhall also announced that it is to spend a further £10m on developing its IT systems as it works towards the elimination of unnecessary paperwork. This was the hard-hitting message delivered to intermediaries by directors of Paymentshield and Bankhall during a series of joint roadshow presentations.

The organisations this week completed a series of joint nationwide roadshows to highlight the benefits to intermediaries of the strategic alliance between the two businesses during the build up to mortgage and insurance regulation by the FSA. The roadshows were attended by over 6,500 intermediaries.

The benefits include:

• Enhanced commission

• Market-leading deals from lenders

• Leading general insurance proposition

• Unrivalled compliance support

• True independence for their businesses

• A one-stop shop solution for intermediaries

Rick Riding, chairman of Paymentshield, says: “Paymentshield has taken the opportunity at the roadshows to explain to the marketplace the benefits that the alliance has created.

“The sheer scale of the combined companies gives us the clout to deliver the best products and best commission deals for our members coupled with unrivalled compliance support.”

And Shaun Godfrey, group sales director at Bankhall, says: “It&#39s a win-win situation for intermediaries, the best of everything and even the opportunity for them to join Bankhall&#39s Point One network until they feel that the are ready to become directly authorised.”

Recommended

Optoma&#39s online boost

Optoma is increasing the proc fee for Abbey online submissions to 0.35%. The company says that this is to support the thousands of brokers who are now unable to claim through the Legal & General mortgage club. Andrew Seymour, chairman and chief executive at Optoma, says: “Brokers should be rewarded for submitting online as they […]

em-homeloans adds to Platform-funded product range

Branded lender em-homeloans has announced three additions to its product range funded by Platform. The additions include a minor adverse self-certification product with a maximum LTV of 75%. There is a range of rates available from one to two-year trackers, where the reversion rate is LIBOR plus 2%. There are also two exclusives offering £650 […]

Offsetting could slow the rate-chasing trend

Jan Errington, group mortgage marketing manager, Abbey for Intermediaries The impact of low interest rates cannot be overlooked when considering the remortgage market. Short-term fixed rates and discounted deals have proved popular as people switch lenders to take advantage of the best deals available. However, the Miles report has called for more attractive long-term offers. […]

Unspoken fears about Fannie&#39s well-being

Here&#39s a pop quiz for European financial institutions that own stock in US mortgage giant Fannie Mae: How much has the company&#39s share price appreciated over the past three years? If you answered zero go to the head of the class. Yes, investors in Fannie Mae stock are not a happy bunch. Fannie&#39s share price […]

Newsletter

News and expert analysis straight to your inbox

Sign up