The lender will now accept electronic agreements in principle and full applications via the MTE.Iain Smith, sales director at Accord, says: “Brokers tell us they don’t want to be restricted to only doing business with us via our website so we are delighted to be joining the MTE.” Introducers submit over 25,000 mortgage transactions each month via the MTE to 23 lenders which together are responsible for about 70% of all mortgage business in the country. Mark Lofthouse, chief executive officer of the MTE, adds: “Over the past few months a lot of new lenders have been added to the MTE, and the platform is rapidly fulfilling its purpose as the industry’s only true common trading platform. “Since its launch, its use by intermediaries and the number of lenders going live have both risen at an as- tonishing rate. Over 30bn worth of mortgages per year are now being transacted via the platform, representing around 15% of all mortgages placed by intermediaries.”
- Top trends
HBOS has held its hands up for the first time that subsidiary The Mortgage Business should have paid more attention to the packager market prior to temporary closing its doors to new business last year. Speaking at the Mortgage Summit in Jerez on June 21, Roger Morris, director at em-financial, accused TMB of not originally […]
Speaking at the Mortgage Summit in Jerez today, Michael Lord, head of mortgage and credit unions at the Financial Services Authority, admitted that it is possible for a broker to comply with all its rules and still not be treating the customer fairly.He says: I accept that it is possible for a broker to abide […]
Jo is a first-time buyer and is looking to purchase an ex-council flat that is on the top floor of a six-storey block. She has only been self-employed for the past nine months so does not have a full set of accounts. Jo’s income is 22,000 and the flat is worth 90,000. She has raised a 10% deposit. What are her options?
Derbyshires specialist lender Salt is expanding into the direct to broker market through Premier Mortgage Service and Mortgage Promotions.Salts product range had only previously been available through packagers and the move is part of a strategy to open itself up to the wider market.The service will be available through an online intermediary proposition, with full […]
As the US continues to confound growth expectations and the eurozone’s ‘will they, won’t they’ saga has finally concluded, what are the implications for global markets? James Dowey, Neptune’s chief economist, puts forward his outlook for 2015 and the key considerations for investors.
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