View more on these topics

Trigold agrees to list hybrid rates

Trigold has yielded to pressure from lenders to include capped tracker products on its sourcing system.

Previously, the sourcing system was unable to distinguish capped tracker products and sourced them as either capped or tracker deals.

Because only three len-ders offer these hybrid products – Skipton, Woolwich and Coventry – Trigold felt that they were too atypical to warrant special treatment.

But after Skipton contacted the sourcing system earlier this year, it agreed to tweak the system to include the society’s product.

William Gill, product manager for mortgages at Skipton, says: “Our capped tracker was not sourced for five months but after protracted negotiations with Trigold the capped tracker was included on the system. We rely on sourcing systems. This isn’t a niche product – it is suitable for a lot of people.”

Inspired by this coup, Woolwich, which launched its capped tracker last week, also contacted Trigold to see if its product could also be reassessed on the system. Once again, Trigold obliged.

Bill Safran, chief executive of Trigold, says: “We managed to work with Woolwich and tweak things a little so its product now appears on our system.”

But Coventry, whose capped tracker continues to be sourced as either a capped or tra-cker product, says this does not impede its business and declined to comment on whether it would be contacting Trigold to request a similar amendment.


Spring housing boom predicted

Haart is predicting a spring boom as sellers rush to get their properties onto the market before the introduction of Home Information Packs on June 1.

AMI predicts the regulation of second charge mortgages

The EU directive on harmonised mortgage regulation in member states could force the regulation of second charge mortgages, predicts Chris Cummings, director general of the Association of Mortgage Intermediaries.Speaking at a seminar at Financial Services Scotland in Glasgow, Andrew Turrell, manager in the mortgage and credit unions department of the Financial Services Authority refused to […]

Small offenders seem to fly under the regulator’s radar

When is a mortgage adviser’s advert of no interest to the Financial Services Authority? When the ad is placed by a one-man band in a local newspaper. Since August 2005 I have, as re-quested by the FSA, highlighted to its financial promotions department that a local joker has been continually ig-noring the basic requirements of […]

HIPs are redundant before they start

Kevin Paterson takes a weekly look at the latest developments in the market and brings you what’s hot and what’s not in the world of mortgages


Health Shield joins the Association of Medical Insurance Intermediaries

Health cash plan provider Health Shield has joined the Association of Medical Insurance Intermediaries (AMII) as a corporate member. The non-profit-making Friendly Society is one of eight health cash plan providers to join the intermediary trade body, which is looking to establish working parties with intermediaries and providers on issues such as product innovation and regulation.


News and expert analysis straight to your inbox

Sign up