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Two more packagers join Co-operative

Advantage Mortgage Services and Pavillion Securities Limited have joined the Mortgage Distributors Co-Operative.

Keith Dearling, director of Advantage, says: “We are very pleased to be part of this exciting initiative and the product range on offer compliments our strengths in the market.”

Tony Hughes, managing director of Pavillion, says: “The Co-Op is a natural fit for our business. It gives us access to exclusive products we may not otherwise have had. This will add to the value of our company and our ability to service our customers needs.”

The nine packagers now on board the Co-op expect to distribute some £7bn worth of completions in 2003.

Mark Charlesworth, chairman of the Co-Operative and managing director of founding member The Mortgage Operation, says: “We are extremely pleased with the response from both lenders and distributors and expect further developments in the near future.”


Bank of Ireland launches new mortgage range

Bank of Ireland has today launched a new fees-paid remortgage range with rates starting at 3.59% for a two-year stepped discount. Easyswitch allows remortgage up to 95% for almost any purpose. It covers standard legal remortgaging costs using the lender&#39s solicitor panel, and refunds the lender&#39s usual valuation fee up to £500. There is no […]

Labour to halve Right to Buy discounts

John Prescott will this week announce plans to halve the Right to Buy discounts available to council tenants in property hotspots.The government hopes that curbing the scheme will help address the lack of affordable housing available to key workers, as tenants who have bought their homes often sell them to property companies who in turn […]

MPLC tells packagers to &#39shape up or ship out&#39

Mortgages PLC has informed one third of its packaging partners that their agency agreement will be terminated by March 18 unless their performance picks up. Pete Thomson, Mortgages PLC&#39s head of sales, says in a letter to packagers: “During the past 12 months, the business we have received from you has not been of a […]

Half of UK&#39s &#39poor&#39 adults own homes

As many as half the adults defined as &#39poor&#39 in Britain are either buying their homes with a mortgage or own their properties outright, a study for the Joseph Rowntree Foundation reveals. Another 41% of poor adults live in social housing and 9% in the private rented sector. The foundation says the findings challenge the […]

Pension savings-2015

Overseas transfer charge

By Jim Grant, Senior Product Insight & Technical Support Analyst, Royal London Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS). A transfer to an overseas pension scheme that isn’t a QROPS is therefore an unauthorised payment and taxed accordingly. However, even if the […]


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