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Network Data expects business drop in 2008

Network data’s chief executive says its sub-prime business is ex-pected to fall by 30% and prime volume by 10% this year.

Speaking at the firm’s annual conference, chief executive Alex Co-tton also revealed that BM Solutions has lost its top spot in the network’s lender charts, being replaced by Abbey for Intermediaries. BM Solutions has fallen to third place.

Cotton also revealed that 2007 was a record year for Network Data in terms of secured loans, as brokers looked to diversify their income streams.

But she warned that brokers have yet to take advantage of opportunities in the protection market, with many still failing to cross-sell. Cotton says this is contributing to an estimated £2.3trillion protection gap in the market.

As a result of this shortfall, the network is adding a range of pro-viders to its insurance panel, in- cluding Legal & General .

It will also introduce a handbook for appointed representatives plus a quarterly newsletter and an improved website.

Cotton adds that members will soon be able to launch packaged applications electronically and also benefit from a wider range of equity release deals.


Brokers urged to cash in on EPCs

FastTrack is urging brokers to take advantage of the opportunities offered by the full rollout of Energy Performance Certificates.The energy assessor training firm says more than 1.6 million residential rental units and commercial and public buildings will need to be assessed from October when EPCs are extended to cover the whole market.FastTrack says brokers are […]

Jobsworth brokers must think again

If you are one of the 108 brokers who told a survey by the Intermediary Mortgage Lenders Association that supporting borrowers who get into financial trouble isn’t part of your job description, shame on you. predicts interest-only mortgage rush

Independent online mortgage research site is predicting that more mortgage customers will switch to interest-only loans in a bid to avoid the worst effects of the credit crunch payment shock.It warns that currently around 24% of home movers and first-time buyers take out interest-only loans without specifying a way of paying off the mortgage.The […]

Praxis joins PMPA

Specialist packager Praxis has joined the Professional Mortgage Packagers Alliance. Vic Jannels, chairman of PMPA, says: “We look forward to the growth it will bring to the alliance.”

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]


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