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Advantage receives minded to approve letter

This means that Advantage can finally drop the label of packager and really justify its position of branded lender controlling distribution via network panels.

Peter Bass, head of sales and marketing, says: “This authorisation sets us apart from our competition as it allows us to continue to have client contact after M-Day, ensuring faster offers, quicker completion times and improved cashflow for our network partners.”

Adel Belton, head of compliance, adds: “This move has been widely acclaimed by both lenders and mortgage networks, as a fully compliant end-to-end mortgage process is extremely high on their list of priorities. My mission is to ensure that Advantage meets its responsibilities within this framework.”

Peter Beaumont, sales and marketing director at MPLC, says: “I am delighted to hear that Advantage has received its MTA. As a lender who is heavily involved in branded lending we welcome the fact that it will be directly regulated by the FSA and feel this is a positive development for the branded lending community.”

Jeremy Duncombe, head of sales at Platform, says: “Platform welcomes this move because it means we will not have to put a potentially onerous service agreement in place with Advantage that would be both costly to enforce and disruptive to both businesses, as it will be fully accountable to the FSA in respect of future conduct.”


Nationwide charts show schools&#39 effect on prices

Nationwide has utilised the Primary School Performance Tables published by the government to compile charts which show schools&#39 effect on local house prices. Alex Bannister, Nationwide&#39s group economist, says: “In the past two weeks thousands of children have started their first year at primary school. “Traditionally, primary schooling is viewed as crucial in providing children […]

Infinity First to provide compliant online KFIs

The KFI facility is being made available to brokers on September 30, via Infinet, the company&#39s online application processing system. Infinet, which has been developed with technology support provided by Newbury-based edge IPK, also provides mortgage brokers with access to the following: An accurate library from which products can be sourced based on KFI input […]

Pink Home Loans receives FSA authorisation

Tony Jones, managing director at Pink, says: “We are pleased that we have received our FSA number. Pink has already invested over £1.5m in developing our compliance service for both appointed representatives and directly authorised intermediaries and we now aim to provide our customers with a market leading compliant service. This marks the beginning of […]

Can sourcing systems help brokers source equity release products?

The sales of lifetime mortgages have declined in the first half of 2004 compared with the previous six months. You might think that this is something of an anomaly if you consider that the fundamental triggers for lifetime mortgages remain steadfast. Lenders appear to have played their part to broaden the market with the likes […]


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