View more on these topics

Omega and Commercial Mortgage Solutions team up

Omega Commercial Solutions of Welwyn Garden City and Commercial Mortgage Solutions of Fordingbridge, Hampshire have formed a strategic alliance.

They will work together to create a commercial processing HUB, centralising many of the complex processes.

Both Omega and Commercial Mortgage Solutions will continue to trade under and promote their own brands,

Kevin Jones, managing director of Omega, says: “We are committed to providing a leading service proposition to our customer base and both companies have a number of experienced specialists to provide what we regard as one of the leading commercial broking operations in the country.

“Between CMS and ourselves we have access to the whole of market and this alliance will allow both businesses to share expertise and processing systems.

Adrian Coles, managing director of CMS, says: “The commercial market has been badly affected by the economic downturn and many brokers and lenders have been forced to exit the market place.

“However, I believe the way forward is for us to adapt our model to suit the market. The alliance with Omega will allow both companies to provide a focussed service proposition. As a result our customers will benefit from access to a wider range of status and specialist funders.”


MS should name the networks that are withholding fees

Mortgage Strategy was uncharacteristically coy in its leader (Clean up your act networks) and lead news story (Lender warns networks to pay brokers on time) by not naming the networks accused of holding onto brokers’ fees (Mortgage Strategy January 12).

Concern over “significant losses” at Barclays

Moody’s has cut its long-term ratings on Barclays amid fears of “significant further losses” and forecasts that the bank will be forced to accept government support.

BM Solutions and BoS desert specialist sector

Competition in the mortgage mar-ket was dealt another body blow last week as BM Solutions and Bank of Scotland announced their with-drawal from the self-cert and sub-prime sectors.

Open House

Openwork, the brainchild of Zurich, came into being in 2005 as part of the post-mortgage regulation network boom. Some three years later its life story is still in its early chapters while other networks are writing their last.


News and expert analysis straight to your inbox

Sign up