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Don’t give up the proc fee fight for DA brokers

From John Malone

In response to Tom Cleary’s letter (Mortgage Strategy December 5), I support his sentiment regarding the treatment of directly authorised brokers over an appointed representative of a principal in relation to proc fees.

My views are well documented, not only in the boardrooms of major lenders, but in print. In fact, we at PMS have gone to great lengths this year to highlight and criticise certain lenders for this bizarre commercial view.

I would like to reassure Tom and all directly authorised intermediaries in a regulated and transparent framework that we at PMS have never sought or received payments that are not open and above board.

Equally, we have not sought, dis


Cheval reports broker interest in website

Cheval, the Stanmore based bridging finance lender, has reported high levels of interest from brokers in its interactive website, which was unveiled at Mortgage Business Expo in November. Cheval, which was the first bridging finance lender to join the CML, has also seen business levels rise significantly since it issued its code of conduct in […]

Homelessness acceptances down

National Statistics- published figures show there are 920 fewer homelessness acceptances in London compared with the same period last year. This is the latest in an overall downward trend in acceptances nationally since the beginning of 2004. relaunches website has relaunched its website with an area especially for first-time buyers and retirees, an overseas area covering new homes for sale in sunnier climates, including America and Spain, and an investor section including details of the recently launched Smart Investor Services across the UK. Additionally, has partnered with to feature instant, current […]


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