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PMP gains full authorisation from FSA

The grant of permission under part IV of the Financial Services and Markets Act 2000 makes Professional Mortgage Partnerships fully authorised with effect from October 31 2004.

David Dodsworth, compliance manager at Professional Mortgage Partnerships, says: “We are of course delighted to have received this authorisation. I would say that we have moved quickly, by avoiding short cuts. It is very much a case of slow and steady wins the race.” 


The network says it approach from the very beginning, since its launch earlier this year, has been to follow the FSA&#39s requirements to the letter. It currently has 125 appointed representatives signed up and is on course to have at least 250 members, with whom it can now sign full contracts, come Mortgage Day.




Purely Mortgages and Lifequote agree deal

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

Torys propose Stamp Duty cuts as environmental incentive

In a speech on the environment, Tory leader Michael Howard explained that he saw adjustments to Stamp Duty as “a powerful incentive to increase home energy efficiency”, working in the same way that energy efficient cars benefit from reduced road tax. Howard says that Britain must face up to its ageing, inefficient housing stock, at […]

B&W looks to sell self-cert loan book worth £300m

Loan book sales are not a new phenomenon in the mortgage market with lenders such as GMAC-RFC and Kensington Mortgage Company raising much of their funding in this way. B&W itself has made similar mortgage sales in the past. But the move has led some in the industry to speculate that the sale is a […]

Base rate remains unchanged

The status quo was widely expected as recent increases are thought to have starting slowing the housing market.


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