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JEREZ 2006: HBOS admits TMB mistakes

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 valuing packagers, a short sight which had a massive impact on clients.

He asks: Now TMB says it is the packagers friend. How do you justify that?

Charles Haresnape, managing director of mortgages at Bank of Scotland, admits: When things do go wrong we put our hands up,

Later in the conference, Bill Dudgeon, former managing director at TMB and currently managing director at DB Mortgages, admitted mistakes may have been made in the past, but put this down to HBOS changing its lending strategy, something he had no control over.


Would a property with a flag put you off? has warned that football fans should avoid hanging English flags outside their homes if they want to sell during the World Cup.It warns that this could not only put off potential buyers but might also decrease the value of the property.So, this week Mortgage Strategy asks…Neil Johnson, 38, sales manager – The fact that […]

JEREZ 2006: Toxic equity release market puts brokers off

Concerns are mounting that brokers are shying away from offering equity release products due to their perceived perception from both the public and the regulator.Delegates at this mornings opening session on new business opportunities said that they had steared clear of the market due to the associated risks.The Financial Services Authority has previously called the […]

SHIP welcomes Retirement Plus

Safe Home Income Plans has welcomed Retirement Plus into its fold. The equity release industry body granted it membership recently, taking the number of SHIP members to 20.

Barclays scotches FT story on Woolwich plan

An FT report last week stated that Barclays is considering giving The Woolwich a greater in-branch presence as well as reducing the number of processing centres it has in the UK to boost its offshore presence. The newspaper put these changes down to Deanna Oppenheimer, who was brought in from Washington Mutual and said the […]


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