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Rival IFAs resume talks on merging

London-based IFA Inter-Alliance is in discussions regarding merging with rival Millfield.

The two firms have previously had merger talks but say those negotiations failed for technical issues.

Stuart Wilson, mortgage development director at Inter-Alliance, says if the firms merged it would mean bigger distribution as the number of members would exceed 2,000.

He says: “This is a sign of the times. It will be difficult for smaller firms to survive in the regulated environment without merging.”

Wilson says the result of the talks is expected to be announced in the next few weeks.

And in a separate announcement Inter-Alliance says it has taken another step towards realising an all-of-market lender proposition by agreeing terms with five major mortgage clubs.

The clubs are Mortgage 2000, Pink, TMA, Legal & General and Source.


Paragon sponsors tennis star at Wimbledon

Paragon Mortgages is supporting British athletes through a range of initiatives, including the sponsorship of Lee Childs, the British tennis No.4. This coincides with the launch of a promotional campaign featuring a number of sports men and women in a variety of activities including tennis, athletics and swimming. John Heron, managing director of Paragon Mortgages, […]

West Bromwich anounces record results

The West Bromwich has delivered record business results for the seventh consecutive year, with lending up 55% to £1.6bn. The results show the society&#39s growth rate is up 17% to a record £5bn assets; group pre-tax profits up 11% to a record £30.6m; net saving balances up £249m and mutuality benefits of £25m passed on […]

My question about mortgage clubs remains unanswered

From Richard Griffiths John Malone&#39s letter (Mortgage Strategy June 7) rushes to reassure readers that Premier Mortgage Service will operate as normal despite a comment in my column (Mortgage Strategy May 24). But I only asked whether PMS will continue to deal with ARs wishing to place mortgages off-panel through a mortgage club for lenders […]

Savills not surprised by base rate rise

Following todays Bank of England Monetary Policy Committee announcement of a base rate rise of 0.25%, Savills Private Finance says the rise has come as no surprise as the Bank has become increasingly worried about high levels of consumer debt. Savills says the increase has also opened up the debate as to whether borrowers should […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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