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Preferred responds to intermediary feedback

Preferred have made several changes across the business following their second round of QualityCircle feedback sessions earlier this year.

John Webster, managing director, says: “The Quality Circle sessions gaveintermediaries the opportunity to tell us what they thought we weredoing right and – more importantly – to highlight any areas where theythought we could make improvements. We promised not only to listen totheir concerns but
act on them as well, and we’ve kept that promise. Wecontinually listen to our intermediaries so that we can actively strengthenour business relationships”.

Changes that have already been implemented include, the shortening of KFI to 5 pages, to ensure clarity and user friendliness; individual support throughout the submission of KFI; the introduction of the IT helpdesk, to provide specific and targeted support; the forwarding of all solicitor correspondence to the intermediary, to ensure continuous flow ofcommunication from post offer to completion; all posts offer cases now followed up at the 30 day stage; the increase in the number of Roving Underwriters by 25%, to provide improved onsite support.

Changes that are currently under development include a user friendly interface for KFI submission; a fund release process enabling Preferred to transfer funds faster.

In addition, Preferred have also amended their procedures regarding confirmation of ID andsubmission of documentary evidence following feedback from some of their packagers.

Intermediaries will be invited to a third round of Quality Circle feedback sessions at the beginning ofnext year.


Barnetts hits 300 jobs target

Barnetts Solictors has reached a key milestone in the practice’s history and hit its 300 staff target. Joe Whelan, chief executive of Barnetts, says: “This is a fantastic achievement for Barnetts. It was an objective we set five years ago and we have achieved this four months ahead of schedule.“As a firm Barnetts has gone […]

TFC says borrowers should have a choice to pay HLCs

TFC Homeloans, the branded lending division of mortgage distributor The Finance Centre, believes that borrowers should be offered the choice to pay higher lending charges or not when taking out a mortgage.TFC has confirmed that these charges are definitely being shunned by some mortgage advisors, as they favour products which do not force borrowers to […]

79% Frown on idea of using limited lender panels

A whopping 79% of Mortgage Strategy Online readers last week voted that it is not in the spirit of Financial Services Authority guidelines for brokers to use a panel of just three lenders. Despite both brokers and experts arguing in this weeks’ magazine that there is nothing wrong with offering a reduced panel, just 21% […]

Step change

House prices in Northern Ireland have risen by seven times the UK average in the past year, fuelling concerns about affordability, says Harvey Jones

Japan Economic Insight

James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading


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