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Proc fee changes good for packagers

Making proc fee adjustments is good news for packagers says Mortgages for Business.

The buy-to-let packager believes HBOS’ recent fee changes will distinguish the more efficient packager.

Nick Blunt, head of business partner development at Mortgages for Business, says: “By aligning proc fees across the market, HBOS is creating a level playing field from which every packager can add value through providing an enhanced and dedicated service to their brokers.”

He says: “Now that proc fees are being aligned, brokers should look to utilise the packagers with the best service.”


Dear Delia…

My client Mark is a qualified reflexologist who set up his own business 10 months ago. He would like to buy a £160,000 flat and has a deposit of £45,000, which is made up of savings and a lump sum from his parents. His business is doing well and he estimates his annual income to be £29,000. Mark has been turned down for a mortgage by his existing lender as he is unable to produce any accounts. Can you help?

HSBC challenges lenders and brokers

Turbulence continues to blight the mortgage market. Rates are up despite the Bank of England’s decision to cut the base rate this month, deals are being pulled and mortgage firms are falling by the wayside.

Response to the Bank of England special liquidity scheme

The new special liquidity scheme from the Bank of England does absolutely nothing for the specialist lenders hardest hit by the credit crunch and little more for the building society sector – a fact highlighted by Michael Coogan, director general of the CML.

Lenders continue to cut packager panels

Lenders are continuing to cut their packager panels, in a bid to control distribution.Bristol & West Mortgage and Accord are the latest lenders to condense their packager panels, becuase of market conditions.Mark Howell, head of marketing at Bristol & West Mortgages says it is always looking at market conditions and because of this is knocked […]


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