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Abbey thrown off Homebank lender panel

Homebank, a Northampton-based national mortgage broker, has announced that it is removing Abbey National from its lenders panel with immediate effect.

Explaining the sudden move, Homebank managing director George Dodds says: “We have had a good relationship with Abbey National but its continued cross-selling of buildings and contents and accident, sickness and redundancy policies to our clients means that we are unable to continue supporting them.

“We ask all our lenders for a written no cross-selling agreement. In the face of quite blatant cross-selling, Abbey has again refused to sign a no cross-selling agreement. After everything that has happened, I have to conclude that Abbey&#39s commitment to the intermediary market is little more than a sham.”


NACFB growth encourages home-grown Code

Members of the National Association of Commercial Finance Brokers heard last week of the organisation&#39s growth in the last year and of attempts to pass a code of practice for buy-to-let lending.Membership of the commercial finance body increased by 14% in the last year to 297, providing a significant contribution to the buy-to-let market among […]

A risky new strategy for the future

One of the most significant developments about to hit the mortgage market is &#39pricing for risk&#39. This concept is one that the mainstream mortgage market seems to have missed, whereas in the general insurance market, the profile of the customer is targeted and priced for. Take car insurance, for example. An insurer might offer you […]

FSA goes ahead with abolition of polarisation

The Financial Services Authority last week confirmed its decision to proceed with the abolition of the polarisation regime.In future, firms advising on packaged product business will be able to offer their customers a greater choice of product – and from as many providers as they wish.Announcing the decision at the annual dinner of the Association […]

My mortgage week

Monday: Early start to make a site visit to a Midlands-based lender with two new vacancies. After a quick wine bar lunch, return to the office with copious notes to record background information and prepare a consultancy contract. Spent the rest of the day contacting newly-registered candidates, writing copy for our next advert and preparing […]


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