View more on these topics

Scottish Widows reports 23% mortgage growth

Scottish Widows Bank, the telephone-based mortgage and deposits bank, has reported net mortgage lending growth for 2006 was 1.03bn up 23% from 2005.

It also revealed total mortgage balances as at December 31 2006 stood at 5.60bn.

2006 was Scottish Widows Bank’s 12th successive year of growth.

Graeme Hartop, managing director of Scottish Widows Bank, says: “Our business continues to go from strength to strength, as demonstrated by our strong performance in 2006.

We started out 12 years ago with a team of 18 and have now expanded to nearly 400 employees.

Year-on-year we have experienced exceptional financial growth, which is a tremendous achievement given the competitive backdrop.

Over the past 2 years there has been a strong focus on improving our IT capability. This will continue into 2007 and is a key factor underpinning our growth strategy.

Providing consistently competitive products from a low cost base continues to drive our success in the mortgage and deposit markets and our strategy remains to identify and develop niche areas of the retail banking market.

A good example of this is our professional mortgage product and we remain the UK leader in this field.

There will be a strong emphasis on our marketing activity during the forthcoming year, spearheaded by our first ever television advertising campaign.


TMB offers free valuations

The Mortgage Business is offering free valuations through Pinnacle Mortgage on its whole purchase range up to £500,000. Nigel Payne, managing director of TMB, says: “Free valuations complement the value and structure of our products.”

Halifax says 29% of detached property owners will pay IHT

Halifax research has shown that nearly one third of detached property owners in the UK could be liable to pay Inheritance Tax. The bank says 29% of detached house prices now occur above the 2007/08 IHT threshold of 300,000 but five years ago only 16% of detached properties were sold above the then IHT threshold […]

Demand outstrips supply, says Hamptons

Latest analysis from Hamptons International, has found that there is an average of eight buyers for every seller. Hamptons says this imbalance in supply and demand is showing no sign of abating as the spring market moves closer, with many sellers holding back from putting their property on the market until a suitable property becomes […]

Crackdown on crime

The regulator is focussing on mortgage fraud and will come down hard on bad apples amd firms that do not have the appropriate checks and balances in place, says Stephanie Spicer

What attendees thought of the LendInvest Property Development Academy

LendInvest ran its first Property Development Academy in London last month. Attendees from all over the UK gathered to learn how to better equip themselves with the skills they need to grow their property development portfolios. Speakers from CBRE, Gleeds, Arcadis, Gowling, Residential Edge and AZ Urban Studio gave their insights into their respective fields […]


News and expert analysis straight to your inbox

Sign up