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Your Mortgage Options receives full FSA authorisation

The Grant of Permission Part IV of the Financial Services and Markets Act 2000 enables YMO to conduct Mortgage and GI business as a principle with effect from October 31, 2004.

David Espin, compliance director for YMO, says:”We are all very pleased that we have received confirmation of our authorization as this will enable YMO to effect the contracts for their authorised representatives in readiness for October 31″.

YMO is targeting between 65 and 100 AR businesses in total to the end of 2005.


Mortgage Next directors sued by Scarborough

It seems that while the network was sold in Febuary to Freedom Finance, there had also been a rival bid from the Scarborough. A writ issued by the society&#39s solicitors Addleshaw Goddard claims it spent £243,000 on external advisers and £102,000 internally as it prepared to buy the broker network. Mortgage Next declined to comment […]

Industry sources warn of blood on the carpet

There is growing concern that many networks could be guilty of a regulatory breach unless they make sure any shortfalls in the number of ARs they have for Mortgage Day is communicated to the FSA. So if a network originally told the FSA that they were looking for some 300 ARs and they are now […]

Smee&#39s resignation from AIFA is industry&#39s loss

AIFA&#39s sister trade body, the Association of Mortgage Intermediaries, says while it is sad to see Smee go, the move will not affect its day-to- day running. AMI director Chris Cummings says: “I&#39m very sad to see Paul go – he&#39s the person with the best contacts book in the regulated world. “He has provided […]

Purely becomes Interactive partner

Purely Mortgages, which is to launch this month, has struck a deal with Interactive Investor, becoming its preferred mortgage partner. The broker says it has been selected ahead of other established brokers to provide fees-free mortgage solutions to Interactive Investor&#39s database of over 1.4 million registered users. Purely says the partnership gives it greater access […]


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