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New Life Mortgages receives authorisation

Peter Lucas, New Life Mortgages&#39 chief executive, says: “We are very pleased and proud to be granted the relevant permissions and as a front runner in the provision of Lifetime Mortgages we now confidently expect to substantially increase the levels of our activity.

“Our Lifetime Loans are already being sold exclusively through a select panel of intermediaries who will also be appropriately regulated. We look forward to developing further such links with other specialist advisers with whom we can jointly design, fund and retail appropriate Lifetime Mortgage products.”

The NMB Group, New Life Mortgages&#39 major shareholder and specialist in the administration of lifetime and other loans, has been granted the same permissions and also as a loan administrator.

Kevin Allen, chairman of The NMB Group, says: “Our association with New Life Mortgages has been further cemented by the granting of these permissions and we are now actively seeking further third party administration contracts from other loan providers in the new regulatory regime.”


Purely signs cover exclusive

Purely Mortgages, which plans to launch to the general public soon, aims to take a significant share of the mortgage market within five years and says it sees providing customers with high quality, low cost life insurance products as central to meeting customer expectations. The agreement will see LifeQuote taking responsibility for the delivery of […]

Some potential ARs are taking it to the brink

Further evidence that brokers are still unsure about what to do as Financial Services Authority regulation looms came Mortgage Strategy&#39s way last week. A broker called up to pick our brains on how to choose a network, having spent the past few months trawling through the promotional literature to narrow his choice to two. MS […]

LIME fully authorised

Simon Hudson, chief executive of Tenet, says: “As a major player in this market and the first mortgage network to launch, this permission confirms the decision of hundreds of advisers to join LIME was the right one.” To prepare advisers for pending regulation LIME are hosting a series of industry-leading events over the coming weeks […]

MCCB announces post-Mortgage Day arrangements

The changes will take effect on Mortgage Day when the FSA will assume statutory responsibility for regulating the mortgage industry. The Mortgage Code will no longer apply from this date, and MCCB will cease its activities. MCCB has, however, put in place various arrangements to provide assistance to registered firms and consumers after this date. […]

Building long-term relationships

Call us old fashioned, but we want to get to know you personally. That’s why we give you a named case manager and underwriter to look after all your cases from start to finish. Your underwriter will happily give you their number, so you can ring them directly with any questions you have. And your […]


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