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JEREZ 2006: Lenders back packagers

Lenders have got behind packagers and say there is still a role for them in the market.

Speaking at the Mortgage Summit in Jerez on June 21, Charles Haresnape, managing director of mortgages at Bank of Scotland, says although there is still room for improvement in some packagers, the good ones will develop rather than consolidate.

He adds that packagers must change and adapt to the market otherwise they run the risk of brokers increasingly going direct to lenders.

Tim Hague, director of BM Solutions, agrees that claims that packagers are doomed are getting boring and says so long as the sub-prime market continues to grow, there will be a place for packagers within it.


FTBs get a helping hand from Chelsea

Chelsea has launched a helping hand mortgage for first-time buyers exclusively through Openwork. First-time buyers can use the income of parents or close family members. Up to three incomes can be used and there can be up to four applicants. The term of the product is based on the child’s age rather than the parent’s. […]

Council Tax collection rates show further improvement

Council Tax and non-domestic rates collection have improved for the sixthsuccessive year, figures out from the Department for Communitiesand Local Government show.Local authorities in England collected 18bn in council taxes in 2005/06 – an extra 32m compared to the previous year.The figures represent 96.8% of the 18.6bn collectable. This is an increase of 0.2 of […]

House buyers prefer online conveyancing

A survey carried out by one of the countrys top conveyancing firms has revealed that nearly two-thirds of people prefer not to see their solicitor when buying a house.Barnetts Solicitors surveyed nearly 1,700 people in a web poll and 64 per cent of the voters believed it was not an advantage to have a face […]

Market backtracks following death of David Walton

David Walton an external member of the Bank of England’s Monetary Policy Committee died yesterday, aged 43, following a short illness.Walton was the only member in favour of an interest rate increase in the last two Monetary Policy Committee meetings. His death has caused the financial markets to back track, sending short sterling interest rate […]

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


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