In the wake of squabbles over how the collective was run, including the distribution of shareholdings in lender Unity, the reunification will see some changes to its objectives.Members will now have equal equity stakes in the organisation and equal voting rights. The alliance henceforth will be run by a management board with regular rotation of members and chairman. Following claims that some members were using the organisation to further their own companies’ interests, the PMPA will now be governed by a ‘not for profit’ principle. It will reinvest all profit surpluses into the association’s promotion and the delivery of added-value services. John Mawdsley, director of The Mortgage Partnership, and Ian Nelson, chairman of BDS, say in a joint official statement: “The newly constituted body will more closely bring together a group of 22 mortgage professionals, who wish to be the byword for the highest standards of integrity, service and transparency in the packaging industry.”
- Top trends
House prices have started to rise again for the first time in 15 months reports the latest Royal Institution of Chartered Surveyors housing market survey published. The three months to November saw 4% more chartered surveyors reporting rises in prices than falls. Octobers figures showed a balance of 8% reporting falls. Buyer enquiries have consistently […]
The Loughborough is welcoming an initiative to slash the opportunity for fraud against bank and building society customers.From October 2006 cheques for personal accounts made out solely to an institution are likely to be declined in certain circumstances when the name of the person who holds the account will also be required in the payee […]
John Mawdsley, director of The Mortgage Partnership, Ian Nelson, chairman of BDS and Andy Linnett, director of LMS Specialist Mortgage Services, have revealed the Professional Mortgage Packagers Alliance is reforming. Following detailed discussions with all concerned parties it has been agreed that the PMPA will be reconstituted with several changes to its constitution. Members now […]
Specialist lenders have hit back at reports that regulation has resulted in them losing out to more traditional lenders, whether or not they offer better products.
This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.
News and expert analysis straight to your inboxSign up