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MP slams Farepak boss

MP Jack Straw has slammed shamed Farepak owner Sir Clive Thompson after he blamed the Christmas hamper firm’s failure on HBOS. Sir Clive was quoted as saying that the bank was “hanging the firm out to dry”. However, Straw deemed this comment to be “shameless”, as Farepak was well aware of its financial difficulties even though it continued to advertise its product.

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Kensington Group reports increased profits

In 2006 Kensington has continued to show solid growth particularly in its newer markets in Ireland and second-charge mortgage lending in the UK. Credit performance has been encouraging and it is on track to deliver an improved performance in the areas of arrears, losses and overall bad-debt charges. However, the value from new business lending […]

N4 boss prepares for a cool month in the Arctic

Steve Jones (pictured), chief executive of mortgage technology provider N4, is taking part in an epic 350-mile race to the North Pole. Jones is leading the oldest team (with a combined age of 140) in 2006’s Sony Polar Challenge. The North Pole features one of the world’s most extreme environments, where temperatures plummet and polar […]

Paymentshield policy on renewal commission is fair

From Chris Traynor In response to the letter from Eddie Royce concerning Paymentshield in Mortgage Strategy October 23, I would like to make it clear that Payment-shield has been paying – and will continue to pay – renewal commissions on all policies set up prior to Financial Services Authority regulation, where the organisation remains regulated […]

Remortgaging hits new low

The Council of Mortgage Lenders has revealed that remortgaging has reached its lowest level for five years.Figures for September show that remortgaging accounted for 30% of the market by value, the lowest level since August 2001. Figures for the third quarter of this year reflect this trend, with remortgaging accounting for just 31% of the […]

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