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US mutual gets $5bn bailout

The US’ largest building society, Washington Mutual, is to be bailed out with a $5bn (£2.51bn) injection from a consortium led by TPG. The 119 year old lender has reported more than $3bn in mortgage write-downs and loan losses since the start of the credit crisis.

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Mortgages.co.uk teams up with KRS

Mortgages.co.uk has linked up with Key Retirement Solutions to help pensioners looking to take out equity release plans.Enquiries for lifetime or home reversion deals fielded by Mortgages. co.uk will be forwarded to KRS, which will contact applicants to offer advice.The consumer finance website has generated a large number of enquiries from consumers looking to explore […]

AFB success as European Parliament adopts directive

The Association of Finance Brokers has welcomed the news that the European Parliament has adopted the Consumer Credit Directive. The adopted Directive includes an amendment from AFB, which prevented a proposed ban on commission. The European Parliament adopted the directive last week and member states will have two years to enact the legislation. Although the […]

Exclusive sees its applications soar

Exclusive Connections received re-cord applications for membership in February.The packager network received more applications for full membership in February than in any other month in its 14-year history. Matthew Arena, managing director of Exclusive, says: “We are experiencing the worst trading conditions since the end of the 1980s. The market is a hostile place and […]

TFC extends free legals across panel

TFC Homeloans is expanding its offer of free legals and a £99 application fee on First National and Beacon remortgages.

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