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Quest unveils anti-fraud system

Quest has launched an anti-fraud tool designed to spot suspiciously high valuations. Launched after trials and discussions with key industry figures, Q-Price Alert will work alongside Quest’s existing fraud detection software to allow surveyors and lenders to identify surveys or mortgage applications with valuation figures that seem too high.

It works by using Land Registry data to flag instructions where purchase prices exceed estimated values by 15%.

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Lenders pull deals and increase rates en masse

UK lenders have been withdrawing products and increasing rates en masse over the last two days to combat a massive increase in business volumes.Yesterday evening Scottish Widows Bank announced the suspension of a number of its ranges to deal with unexpected rises in business volumes.Meanwhile, BM Solutions withdrew three products from its mainstream line from […]

Brokers wash hands of borrowers

Some 38% of brokers polled by the Intermediary Mortgage Lenders Association claim it is not their job to support borrowers in financial difficulties.

BUY-TO-LET SUMMIT 2008: Optimistic outlook for B2L

Mortgage Strategy’s Buy-to-let Summit has kicked off this morning with statistics revealing positive prospects for the sector.Speaking at the Four Seasons Hotel in Fleet, Hampshire, Michael Ball, professor of urban and property economics at Reading University, outlined a raft of figures and reports that give cause for optimism for buy-to-let landlords and lenders.He says: “The […]

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Trust me, I’m a provider

By Craig Paterson, Underwriting and Claims Philosophy Manager, Royal London Hard-hitting headlines “Dying mother of two is refused life insurance payout.”1 “What a way to treat a dying man: Grandfather refused life insurance claim.”2 “A widow betrayed by a life insurance company.”3 With headlines like these, it’s no wonder some consumers don’t trust providers. Trust […]

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