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A&L to cut its SVR by 0.25%

Alliance & Leicester is to cut its SVR by 0.25%. This change will come into effect on April 23 for new borrowers and on May 2 for existing mortgage holders.

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Tiuta launches online case tracking

Bridging lender Tiuta has launched an online case tracking system for brokers giving them instant access to the status of clients’ applications.

Outsourcing tipped to grow

Newcastle says the unpredictable mortgage market will lead more financial services firms to outsource services this year. The society has seen significant growth in its outsourcing arm, Newcastle Strategic Solutions.

Demand sees Nationwide pull deals

Nationwide has blamed high demand for the withdrawal of a number of fixed rate products and the increase in the rates of other deals.Last week the lender pulled its two-year fixed rate deals at 5.82%, 6.02% and 6.52% plus its three-year fixed rate products at 5.95%, 6.15% and 6.65%.The building society’s five-year fixed rate deal […]

FSA sets up team to fix NR failings

The Financial Services Authority has appointed a nine-strong team to implement the recommendations made by a damning report into the Northern Rock crisis.The internal report revealed several failings in the regulator’s dealings with NR including a failure to adequately monitor the lender.The team will be headed by Mandy Spink, head of supervision for small firms […]

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