View more on these topics

Technology is key to regulatory survival

Mortgage Talk director Peter Birch is warning mortgage advisers to embrace new technology if they want to survive regulatory change.

Birch says: “The next two years or so will see wholesale changes being introduced in the mortgage advice arena, including new regulations, pressure on margins and, of course, the seller&#39s pack proposed by the Government in the Queen&#39s Speech. Coupled with the predicted slowdown in the housing market, advisers will find that their margins being squeezed unless they take early action.”

He adds: “Early adoption of new technology is probably the best way for mortgage brokers to ensure their continuing profitability. Those companies that implement the latest online mortgage application packages will be better placed to maximise business and to maintain their margins. Moreover, these packages are already well established and are proving invaluable for the swift submission and processing of applications.”

Birch says that many brokers are failing to prepare in anticipation of N4. “Much of the profession is continuing towards the deadline as though nothing will happen. Although we are still guessing what the exact contents of the proposed Homes Bill and the Office of Fair Trading enquiry into estate agency practices will be, we know that we should be preparing in advance. Those advisers that think they will be able to continue as before simply aren&#39t being realistic.”


igroup scoops Specialist Lender of the Year award

At the inaugural Business Finance Gala Awards Dinner held at the Commonwealth Institute in London last week, non-standard mortgage lender igroup was voted Specialist Lender of the Year. The award was in recognition of “the lender who provided the most innovative products, and goes the extra mile in supporting and working with its introducers.” Jonathan […]

Consumer confidence remains high, says BBA

Latest figures from the major British banking groups for October show that net sterling lending (after allowing for securitisations) increased by £13.4bn (+1.5%) to £883bn. This compared with September&#39s underlying rise of £15.1bn and the recent monthly average of +£9.7bn. October saw lending to individuals rise by an underlying £6.8bn. Mortgage lending was very buoyant, […]

City Residential to help make Liverpool living affordable

A Liverpool-based estate agent has launched an offer to make city living more affordable. City Residential is offering to pay the 5% deposit, legal fees and even stamp duty up to a total of 10,000 for anybody buying in the newly launched City Central scheme.Buyers can opt to suspend their mortgage repayments until January 2007.Marie […]

Advantage not being taken of all sales channels

Intelligent Finance says intermediaries are missing out on sales opportunities by internet and telephone.Mark Curran, senior manager for e-commerce, says modern consumers are gaining confidence in technology and are more willing to try different sales channels than ever. Curran says: “Intermediaries need to look at technology to manage a growing number of client requirements. Clients […]

Infographic - thumbnail

Infographic — health cash plans 2014

Health Shield has strengthened its position in the cash plan market, according to the latest Laing & Buisson report, increasing its market share by income from £27m in 2012 to £29m in 2013. The Health Cover UK Market Report 2014 revealed that the non-profit-making Friendly Society was the only provider in the top four to have increased its market share by income over the past year. Health Shield was also the only cash plan provider in the top four to have increased its market share by income every year for the previous five years. This infographic presents the figures.


News and expert analysis straight to your inbox

Sign up