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HBOS reaffirms commitment to broker sector

HBOS has reaffirmed its commitment to the intermediary market and says broker distribution remains integral to its future.

At HBOS’ key intermediary dinner last week Andy Hornby, chiefexecutive of HBOS, gave guests an overview of the mortgage market and says its performance in 2006 has exceeded expectations. He says the long-term potential of the housing market is attractive and the economy will continue to be robust in the coming year.

HBOS has pledged to invest £10m in the intermediary market over the next 18 to 20 months. But its retention strategy has come under fire from competitors as an attempt to destroy the remortgage market and put a quarter of brokers out of work. Hornby says HBOS will explore the possibilities of retention and plans to continue to deliver in this area without undermining its commitment to brokers. He also champions the advent of technology such as automated valuation models but says HBOS will not let technology get in the way of building relationships with distributors and customers.


NHBC teams up with MDA for HIPs

MDA Advantage, a home information pack provider and NHBC, a warranty and insurance provider for new homes, are to work together, developing Home Information Packs.New and newly converted properties will require a HIP on June 1 2007, including a number of documents not required for existing properties.Martin Willard, managing director at MDA Advantage, says: Working […]

New service launches to help debt burdened Brits

The Regional Money Helpline has launched as a telephone and web-based advisory service designed to help UK consumers get to grips with the nation’s alarming £1.3 trillion mountain of debt. The South Yorkshire-based national consumer helpline launched Monday November 13 2006, with a national call centre and a new software system called the Personal Money […]

This brainwave could lead to self-harm

Rumour has it that there’s been a big falling out within the Abbey’s marketing team. It seems that one faction wanted to call its new mortgage offering the ‘Victor Meldrew’ range while another felt the ‘Andy Millman’ mortgage’ more appropriate.

Calls for 14-day cooling off period on overseas deals

Conti Financial has called for a mandatory 14-day cooling off period on all overseas deals.Simon Conn, managing director of Conti Financial, says: “I believe there should be a mandatory 14-day cooling off period where all international property deals are concerned.“Too many people run into these deals like headless chickens, without thinking anything through. People only […]


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