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Mortgage Next launches Direct 2 Source service for sub-prime business

Independent mortgage distributor Mortgage Next has launched a new Direct 2 Source service especially for the sub-prime sector.

The quantity of sub-prime lending being received through Mortgage Next&#39s specialist packaging facility has increased by 60% year on year. Direct 2 Source enables introducers to send applications direct to a panel of four sub-prime lenders, including Kensington Mortgage Company and Platform. Introducers will retain the same level of procuration fees and customers will receive a £250 refund on selected products.

Justine Tomlinson, marketing director at Mortgage Next, says: “There has been a lot of focus on the value of a packaging facility during 2002. We believe sub-prime remains a complex sector, and there is a place for an expert service to be provided directly from the lenders in addition to the many benefits of a packaging service. We are aiming to provide our members with the ultimate choice in the sub-prime market”.


FSA confirms relaxation of mortgage endowment time bar rules

The Financial Services Authority yesterday published its policy statement on relaxing time bars for mortgage endowment complaints. The rule changes will reduce the risk that some endowment policyholders who may have been mis-sold policies will miss the opportunity to complain because they did not realise they had a potential claim and failed to act in […]

Consumers log on to CA website on endowment mis-selling

Almost 400,000 consumers have gone on to the Consumers&#39 Association&#39s since its launch four months ago. The website offers information on mortgage endowment mis-selling and how to get compensation, and 28,000 people have used the letter generator to draft a complaint. The CA has launched a new questionnaire on its website today to assess […]

Platform set to unveil new brand strategy

Platform, the new one-stop lending arm of Britannia created from the merger of Platform Home Loans and Verso, will unveil its new brand on January 30. Platform&#39s range of products will include the buy-to-let and self-cert products that used to be sold through Verso and the non-conforming range that was under Platform Home Loans, plus […]

BBA says mortgage lending slowed in December

The UK mortgage market experienced a slowdown in December, with lending falling significantly from its record level of the month before, figures released by the British Bankers&#39 Association revealed. The BBA, which published its monthly report on lending by the major British banks yesterday, says that mortgage lending stood at £5.08bn in December, down from […]

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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