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Brokers advised to fill in both direct and AR status applications

The FSA has advised intermediaries to fill in an application for both direct authorisation and appointed representative status in case their network fails to get authorised.

Responding to broker concerns at the Mortgage Business Expo that the majority of principals still have yet to get FSA authorisation, Susan De Mont, manager for high street firms at the FSA, says: “We recognise that those brokers who want to join a network may not know until late January whether their principal has successfully secured authorisation.

“This is why firms should have a contingency plan in place and fill in two applications.”


Prices in London rise 1.3%

Prime Central London property prices have risen by 1.3% over the third quarter of 2003, a survey by FPDSavills Research reveals. The research indicates the mini-recession in Prime Central London residential values has halted due to improved sentiment and pent-up demand. But, despite the pick-up, the survey shows year on year growth is still running […]

North / South divide is dead in buy-to-let market

Half of all buy-to-let lending now takes place away from the South of England, latest research from ARLA reveals. The Midlands, the North and Scotland and Wales accounted for 49.9% of all lending to buy-to-let investors in the three months to the end of September. The average number of loans arranged each month increased by […]

Bleak Christmas for debtors

Thousands of consumers in the UK face the prospect of a bleak Christmas and new year as the equity in their homes is eaten away by personal debts that are spiralling out of control, Opus Mortgages warns. Alarming evidence collated from the mortgage and secured loan applications of 2,000 consumers in the UK reveals that […]

HML takes top 10 position as it smashes £20bn mark

Third-party outsourcing firm and Skipton subsidiary Homeloan Management now has £20bn in mortgages under administration – twice the amount it recorded 14 months ago and more than three times the £6.62m it re-corded in 2000. The increase means that if HML was a lender and not a servicer it would rank alongside the top 10 […]


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