View more on these topics

Malone speaks out about PMS decision

John Malone, managing director at PMS has spoken out about why he decided to stay with the mortgage club, citing current market conditions as his main reason for staying.

Malone says: “I thought things would be pretty awful this year, but even I didn’t expect the seriousness of the situation. It was felt because I had been through this situation on a number of occasions it would be more preferable at this time for the current management team to stay on, rather then try to bring in a new person.

“I was asked if I was still happy to carry on working and the answer was yes. We felt if a new person came in it would not be fair on that person, and it would have been better for me to step away from the company altogether.

“Many people have made an analogy between me and Sir Alex Ferguson, when he decides to retire I doubt that he will take any other position within Manchester United, they may well invite him back later to take some kind of overview, but I think you have to allow that new person to manage in their way.”

Steve Atkins had been in line to succeed PMS until he unexpectedly resigned as head of Premier Mortgage Services in September 2007, other names had been linked to the role, including Linda Will, former managing director of Accord Mortgages.

Recommended

Benefit from the remortgaging trend

Many predict that 2008 will be an excellent year for remortgages and the sector has already got off to an encouraging start.

MT offers free valuations with Bristol & West

Mortgage Times is offering free valuations on all buy-to-let and self-cert products from Bristol and West’s new range.Payam Azadi, director of marketing at Mortgage Times, says: “Bristol & West are one of our key partners for 2008, and we have always had a particularly strong product offering with them. It gives me great pleasure to […]

High LTV lender numbers plummet

The number of lenders offering 100% LTV mortgages has slumped by 60% in just six months, according to research from Mform.co.uk.The website’s study shows that only nine lenders still offer 100% LTV mortgages – 13 fewer than six months ago.The number of products on offer has also fallen from 162 to just 39, with 6.14% […]

CMD offers help to brokers affected by Commercial First

Commercial Mortgage Desk has developed a hotline for intermediaries requiring immediate help replacing pipeline cases following Commercial First’s decision to accept no new business. Ann-Marie O’Neill, head of sales and marketing at the broker, says: “Our strength has always been in having a completely open panel of commercial lenders from the start. It’s at times […]

Newsletter

News and expert analysis straight to your inbox

Sign up