The famous Five who quit HBOS will have to undertake meticulous research and preparation if their new lender is to launch successfully, Money Partners CEO Colin Sanders says.Earlier this month HBOS head of specialist lending Michael Bolton spearheaded a walkout from the group followed by Alan Cleary, sales director at Halifax Intermediaries, John Nixon, director of operations at BM Solutions and The Mortgage Business, and Rob Williams and Mark Smith, head of underwriting and head of support at BM Solutions respectively. All five joined London-based private equity firm The Oakwood Group and will launch a lender next year. Sanders says: “These are high profile individuals with proven records. This is proof of the dynamism of the specialist mortgage market. While I have no inside track on their plans I’d be surprised if they are not related to the specialist sector. After all, that’s where their skills and experience can be used to best effect. “I know from the experience of helping launch Money Partners last year that proper research, planning and preparation are prerequisites of long-term success in this crowded and competitive arena.” On the basis that his assumption is correct, Sanders says it will be interesting to learn more about the new business’ distribution plans. He adds: “For instance, will it rely on packagers, networks, brokers or take a direct-to-consumer approach? Or will it be a combination of some or all of these? It will also be interesting to see how its proposition is supported by technology – definitely a battleground of the future.” Stephen Knight, executive chairman of GMAC-RFC, adds: “In building their business, I hope Michael and Alan focus on their positives and not others’ negatives. If they do, I wish them success.”
- Top trends
Southern Pacific Mortgage has appointed Carla Sharman as business development manager for the South of England, including Surrey, Sussex and Kent reporting to regional manager, Andy Williams.Carla joins SPML from Royal Bank of Scotland where she was a business development manager for the last two and a half years, also covering the South region. Before […]
The Institute of Financial Services has opened registration for its Alternative Residential Lending module. The ARL module forms part of the recently launched Advanced CeMAP qualification and gives candidates greater flexibility in their specialist area. The module covers the advice process for a range of alternative lending products such as sub-prime, Right to Buy, self-build, […]
The Council Tax Bill has been published by the Office of the Deputy Prime Minister. This follows the announcement on September 20 that the government had extended Sir Michael Lyons’ inquiry into local government funding.
Scarborough has made a number of senior appointments as part of its period of development and growth.Three senior managers within the society have been appointed as executive directors.The appointments reflect Scarboroughs drive to bring on board additional business expertise to drive forward an ambitious change agenda within Scarborough.They have also been mirrored by new non-executive […]
by Debra Corey, group reward director Choosing a name isn’t easy. Whether it’s for your new puppy, a bundle of joy or your reward programme, a name determines a first impression – and often a lasting memory. When it comes to your reward programme, the name will determine how your employees feel about it even before […]
News and expert analysis straight to your inboxSign up