It is hotly tipped that edeus will have 650 products that will all sit on both sourcing systems when the lender launches on September 14.Mystery still surrounds the details of these products, but one source says edeus is expected to have a whopping 650 products. Martin Reynolds, director of corporate accounts at the lender, insists the products will be available on both Trigold and Mortgage Brain, despite concerns that there will be too many products for the systems to accommodate. Reynolds says: “Our products will be on both leading sourcing systems. We will have as many products as needed for the market but it will be a moving feast. We will respond to market demand as we always have done.” One industry source familiar with the edeus product proposition says: “It seems edeus will be price driven at first, entering the market aggressively with competitive rates. But once introducers become more familiar with its technology, edeus will be able to soften up its rates a bit.” However, there has been speculation that Michael Bolton, chief executive of edeus, might go for lighter products and ones that are quicker to process. One source says: “Michael will come up with some sexy rates. I think he will go for heavy adverse, but not yet. Fast and simple self-cert with no adverse and the same with buy-to-let is what he will be striving for.” Edeus has already ann-ounced that it will be offering an extensive specialist product range and insists it will be competitive. Reynolds refuses to comment on the hearsay. But says: “We will publish our market criteria shortly but we will be a market leader.” Edeus has already announced its plans to enter the markets for sub-prime, near prime, heavy, buy-to-let with multiple rental calculations, income buy-to-let, adverse buy-to-let and true self-cert products.
- Top trends
The Council of Mortgage Lenders has named BM Solutions as the top buy-to-let lender for the first half of 2006, measured by gross advances. This sees BM beating off Bradford & Bingley subsidiary, Mortgage Express and the Paragon Group into second and third place respectively. Tim Hague, director at BM Solutions, says: “BM securing the […]
GE Life has lowered its lifetime mortgage interest rate from 6.09% to 5.95%.It is also set to reinstate its cash back facility, whereby all customers, irrespective of the size of the loan, or who their financial adviser is, will receive a 250 tax-free cashback on completion of their equity release lifetime mortgage.Simon Little, marketing and […]
The industry is moving towards a cultural shift which will see lenders working together to gain competitive advantage, says Frank Eve, managing director of Frank Eve Consulting. Eve says that technological advances are breeding a generation of lenders that will work together to make life easier for themselves and brokers. He says: “Lenders are starting […]
Over 1,000 home inspectors are to take legal action against the government following the Home Condition Report fiasco. The move comes as the government controversially revealed it is to train people as energy inspectors, which some trained home inspectors see as direct competition. Energy inspectors will be trained to carry out the Energy Performance Certificate […]
The insurer UNUM has just published a new report on The Future of Employee Benefits, which makes an interesting read for anyone considering reshaping their existing remuneration package.
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