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Scottish Life Mortgages ties up Bristol & West deal

Scottish Life Mortgages (SLM) has announced an exclusive 4.79% discount deal with £1,000 cashback through Bristol & West.

The product is available up to 95% LTV at 1.16% below SVR for 48 months with no extended tie-ins.

Steve Scholes, director of SLM, says: “Brokers want good discount deals with no extended tie-ins. The £1,000 cashback gives the client the choice of what they wish to spend it on, whether that is £250 towards legal fees and £250 towards the valuation & £500 surplus.”


Correspondent lending written into regulatory plan

Correspondent lending will be regulated after N3, writes Harriet Williams.Classing correspondent lenders as a type of packager, the Treasury said their business would fall under the regulated activity of “arranging”.Nigel Gardner, operations director of Genesis Home Loans, says: “I don&#39t think this announcement will surprise anyone and anyone who thought any part of the mortgage […]


The FSA has published its consultation on proposals for regulating mortgage sales. The consultation closes on November 11 2002. The paper is the first in a series of consultations, which will see mortgage sales regulated from around mid-2004. Sarah Wilson, director of the high street firms division, says: “For many consumers, taking out a mortgage […]

Equity release “high-risk product” says FSA

The FSA has proposed that different types of mortgage carry different levels of risk in CP146, its latest consultation paper on mortgage regulation. The FSA proposals include assigning different levels of risk to different products, with equity release – or lifetime mortgages in FSA parlance – included within the higher risk bracket. Mortgages where the […]

First Title appoints new business development director

First Title, provider of title-related services, has announced the appointment of Phillip Oldcorn as underwriting and business development director. Oldcorn was previously involved in developing First Title&#39s commercial property title insurance services. First Title, a wholly owned subsidiary of the First American Corporation, counts Halifax, Alliance & Leicester, GMAC-RFC, Intelligent Finance and the Woolwich among […]


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