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Mortgage Next follows MI lead

MORTGAGE Next has followed the lead of Mortgage Intelligence by offering intermediaries the opportunity to join for free until October 31 when FSA regulation starts.

Mortgage Next, part of Freedom Finance, says it is waiving monthly fees for all intermediaries who submit a successful application to become an appointed representative. They can also trade under Mortgage Next&#39s MCCB number and their PI policy until October 31.

Mortgage Next marketing director Justine Tomlinson says: “Time is running out for brokers who want to become ARs. There is danger, for both brokers and networks, that a last minute rush could cause application processing backlogs.”

MI managing director Sally Laker says: “We don&#39t believe networks should expect intermediaries to pay now for benefits they don&#39t actually need until FSA regulation comes into force.

“This is an important concern that intermediaries have raised with us and there is no reason we can&#39t resolve the issue.”

Laker adds: “The Manchester Expo seemed to be the turning point. Until that point the feedback we were getting from intermediaries was that they were unsure about whether to go AR or DA and were also undecided about which network best suited their needs. But since then many seem to have made their minds up one way or the other.”


UCB Home Loans to increase variable rate mortgages

UCB Home Loans is increasing its variable rate mortgages by 0.25% from July 1 2004. This follows the recent increase in the Bank of England base rate. The variable rates now offered are a FlexiPlus variable rate at 6.79% (7.2% APR), an investment flexible variable rate of 6.79% (7.3% APR) and self-certification variable rate 7.39% […]

Average UK house will be worth the same in 2007 as today, says cebr

Latest forecasts for the housing market from the the Centre for Economic Business Research published today predicts that UK home owners will face a “soft landing”. But at the same time the forecasts indicate that average UK house prices will be no higher in 2007 than in 2004. The forecasts are contained in the first […]

CA granted formal &#39super-complaint&#39 status

The Consumers&#39 Association announced yesterday that it has been granted formal super-complaint status by the Department of Trade and Industry. Super-complainant powers will allow the Consumers&#39 Association to make formal complaints to a number of government regulators including the Office of Fair Trading about markets failing to work for consumers and where consumer detriment has […]

Prospective ARs should hang tough

Would you get married for £1,500? Mortgage Strategy can think of few who would but that&#39s the average pricely sum that three networks reckon prospective appointed representatives are willing to tie the knot for. The move last week by Mortgage Intelligence, Mortgage Next and Pink Home Loans to scrap AR fees until Mortgage Day was […]

A guide to auction finance in 2017

By Matt Tooth, chief commercial officer, LendInvest Over the coming weeks, property auction houses across the country will begin sending out their catalogues to prospective buyers in time for the first auction series of 2017. It’s an exciting time for investors, well aware of the opportunities the properties on the lot sheets offer them and […]


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