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Packagers win brokers’ confidence

Research by Alliance & Leicester for Mortgage Strategy shows that 64% of brokers feel confident using packagers.

The research, which was carried out at the start of December with 207 UK brokers, indicates 30% do not feel confident. 6% remain undecided.

Wayne Smethurst, partner at The Finance Centre, says: “The research is not at all surprising. When Mortgage Day came around, there was a move towards submitting business through lenders. However, some lenders weren’t prepared and their business volumes and service suffered as a result.

“There have also been concerns recently as to whether allowing a lender to cascade a case down their own product range is complaint, whereas a packager can cascade through a variety of lenders.”

Mehrdad Yousefi, head of intermediary mortgages at A&L says: “Packagers still continue to play an important part in the industry, especially in the specialist sector, though not so much in the prime market.”


Self-cert waters safe for the honest

There’s nothing like fear to change a person’s actions, and it appears that the fear factor has contributed to the drop in self-cert mortgages.

Kensington offers fixed plus option

Kensington Mortgages has launched a fixed plus payment option on all its standard products, which combines the benefits of fixed and tracker features.

FSA defends its action on adverts

The Financial Services Authority has defended its policy to take action against firms outside the public arena in response to criticism that it isn’t tough enough on non-compliant financial promotions.

RICS launches consultation period on revised regulation

A modern structure for todays business environment is needed to regulate the chartered surveying profession, says the Royal Institution of Chartered Surveyors.RICS members and interested parties are being encouraged to participate in a 12 week consultation, which seeks views on a fresh approach to regulation and redress in the sector following Sir Bryan Carsbergs independent […]


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