View more on these topics

TBMC sees applications rise by 50%

The Business Mortgage Company has reported a 50% increase in applications in the first half of 2006.

For the first six months to June 2006, the buy-to-let and commercial mortgage specialist received applications totalling 864m – 50% up on the same period last year.

Andy Young, managing director of TBMC, says: “The increase has been mainly driven by developing relationships with more networks and delivering more focussed sales and marketing.

“We’ve been appointed to a number of panels in the past three or four months and staff numbers have in- creased from 32 to 60 over the year. We’ve developed new technology and are delivering good service.”

A number of lenders have entered the commercial market over the past year, but Young says TBMC figures have been unaffected by this.

But Colin Bell, operations director at InterBay, says increased competition has encouraged TBMC to change its strategy.

Bell says: “It’s hard to see where the new business to TBMC is coming from. The Council of Mortgage Lenders has reported a fresh high in the buy-to-let market so perhaps it has benefited from that.

“As a new lender in the UK we are seeing rises on a weekly basis but we don’t have a previous year to compare with. Competition breeds change and this is in the consumer’s interest. Our arrival in the UK market has had an effect on other companies.”

Recommended

MDA signs three HIP deals

MacDonald, Dettwiler and Associates, a provider of essential information solutions, has signed three exclusive five-year contracts with Home Information Pack providers in England and Wales.After many months of evaluating potential supply partners, HIP London, House Inspect, and Survey and Valuation Company have chosen MDA as the partner who can provide the most comprehensive solution to […]

West coast seaside towns more expensive than East

Research from Halifax Estate Agents shows that seaside towns on the West coast have seen stronger house price growth over the past five years with 14 of the top 20 located on the West coast against six on the East coast.The most expensive seaside town is on the West Coast, Sandbanks in Dorset, with an […]

TMP appoints in-house mortgage consultant

The Mortgage Partnership has appointed an in-house mortgage consultant.Mark Kennedy, previously of Northern Rock, is now based at the new enquiries desk at TMPs principle office in Wirral. Reporting directly to head of operations Michelle Yates, Kennedy is responsible for taking new enquiries from brokers both over the telephone and online and advising on products […]

AFB launches PPI factsheet

The Association of Finance Brokers has launched its first factsheet to help members with payment protection insurance sales procedures. The factsheet, entitled Payment protection insurance checklist, has been produced following issues raised about the PPI sector by the Financial Services Authority and the Office of Fair Trading. The FSA has urged firms to review their […]

Advice or guidance? That is the question

The Retail Distribution Review (RDR) brought many benefits to the UK pension industry, but it also created an advice gap, resulting in consumers with the smallest funds struggling to access advice at a suitable price By Justin Corliss, Business Development Manager The Financial Advice Market Review (FAMR) produced in March 2016 aims to remedy this, […]

Newsletter

News and expert analysis straight to your inbox

Sign up