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JEREZ 2006: Lenders to grab market from brokers

Brokers were warned today at the Jerez Mortgage Summit that lenders will be looking to take away some of their market share.

Tim Hague, director BM Solutions says that brokers do play an important part in the future distribution of products and that the current 60:40 distribution through brokers and lenders is set to grow.

However Kevin Duffy, managing director at Hamptons says it is more like a 75:25 distribution in favour of the brokers, and lenders will not be happy with this.

He says: I think that some lenders will not be happy about the amount of business going through intermediaries and in the next 12 to 24 months they will be looking for ways to increase their market share through direct distribution.


Affordability under scrutiny

Affordability was once again in the spotlight last week after Fitch Ratings highlighted the lack of a market standard and the varied ways in which lenders calculate it. The credit rating agency under- took research into the increasingly sophisticated methods that lenders are adopting to assess borrowers’ ability to meet their obligations in the sub-prime […]

JEREZ 2006: Event off to a flying start

The Jerez Mortgage Summit 2006 got off to a heated this week start with an opening debate between lenders and introducers on the future of the intermediary mortgage market.Chaired by Kevin Duffy, managing director at Hamptons, the panel consisted of BM Solutions Tim Hague, Bank of Scotlands Charles Haresnape, sales director of Park Row Kevin […]

BDM for InterBay

InterBay Funding has appointed another business development manager. Jamie Breathwick joins from the Royal Bank of Scotland Group where he was a BDM for four years.

Business as usual after Atkins move

Abbey for Intermediaries says it is business as usual at The Mortgage Alliance following the departure of head Steve Atkins. Atkins confirmed last week that he was joining Premier Mortgage Service as a successor to John Malone.

UK policy: Kate Moss and short-termism

“Nothing tastes as good as skinny feels,” said supermodel Kate Moss, who is not often credited for her insights into policy making. Perhaps she should be. In politics, as in matters of diet, the course of action that is the best over the long term is often not the most desirable course of action in the short term. Add the instant gratification of the democratic electoral cycle and, instead of good policy making, you sometimes get the equivalent to a midnight binge in front of the fridge.

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