View more on these topics

EDGE reports 2,100 users

Enterprise Group has revealed that its EDGE system now has over 2,100 registered users, and is receiving over 150 enquiries a day.

In the last quarter of 2006, Enterprise ran a campaign where any applications sourced through EDGE would qualify for a free administration fee, which includes the cost of valuation, for all products and all lenders.

As a result, Enterprise has received a 50% jump in new business and a 25% increase in the average loan size received.

Now for all applications, to all the products of Advantage, Kensington Mortgages, First National, GMAC-RFC Partners and Victoria Mortgages, where the EDGE was used to source solutions upfront, the application qualifies for a free administration fee.

Michael Clapper, chief executive officer of Enterprise, says: The campaign was a huge success, and we now have many regular users of EDGE.

“We want to thank our EDGE introducers by part-extending this campaign into 2007.

“Following the recent bank base rate rises in November and January, and warnings of more to follow, free fees are ever more attractive to mortgagees, particularly in the sub-prime market.

Recommended

The Mortgage Mole

Lend a handIt seems that Norwich Union’s loss is Uganda’s gain as Aviva chief executive Richard Harvey leaves to work with some of the poorest people in the world. He is taking a break from the world of international finance to use his more practical skills to help in AIDS-ridden areas of East Africa.The daring […]

InterBay appoints three BDMs

InterBay has strengthened its national sales team with the appointment of three new business development managers.Nicola Masterson has become business development manager for Essex and Suffolk. She previously worked for Scottish Widows Bank as a business development manager for three years. Sally Williamson has become business development manager for Northern Ireland. She was a broker, […]

Creative adds Scarborough to panel

Creative Mortgage Solutions has added Scarborough to its panel of residential lenders. Simon Evans, group relationship manager of Scarborough, says: We are delighted to be working closely with Creative Mortgage Solutions, as we feel it reflects our own ideology of forming close, long-term relationships, which will benefit the client by, for example, providing exclusive products […]

Lehman Brothers promotes Hinshelwood

Simon Hinshelwood has been promoted to the role of chief executive officer of Lehman Brothers Mortgage Capital in the UK and Ireland, effective from January 2.He will now have responsibility for the brands London Mortgage Company, Preferred Mortgages, and Southern Pacific Mortgage Limited. Hinshelwood will continue to report to Bill Bilsborough, managing director and chief […]

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]

Newsletter

News and expert analysis straight to your inbox

Sign up