View more on these topics

PACKAGING SUMMIT 2007: Packagers claim industry innovation

Packagers feel that they are the drivers of new ideas and innovation in the industry, rather than lenders, according to a poll cast at this year’s Mortgage Strategy Packaging Summit.

When asked whether they were happy with the relationship they had with lenders, and whether lenders were the innovation behind the packaging industry, nearly all packager delegates found their relationship with providers to be a fruitless one.

Lenders strongly denied this claim, arguing that pushing credit limits was not innovation.

Peter Beaumont, deputy chief executive of Mortgages PLC, says: ‘High LTVs, high credit limits, high multiple incomes – this is not innovation, it is mad lending.’

David Tweedy, managing director of Platform, says: “It is all very well saying that is the packagers who push the boundaries, but we are the ones who have to manage market capital. At the end of the day, we have to be able to afford to sell the products.”

Recommended

InterBay boosts sales team

InterBay has strengthened its sales team with three business development managers. Nicola Masterson will cover Essex and Suffolk, Sally Williamson will be responsible for Northern Ireland and Andy Jones will be BDM for Lancashire and Cheshire.

TMP unveils online enquiry form

The Mortgage Partnership has launched an online enquiry form that allows brokers to submit enquiries directly to its new business desk.TMP, the packager with offices in the North-West and Midlands, unveiled the latest development to its website as part of its drive to improve its online presence for brokers.John Mawdsley, managing director of TMP, says: […]

Lending 5 x salary is far too conservative for Barclays

From Simon CollisI was amused to see that Barclays’ CEO John Varley is not interested in lending 5 x salary (Mortgage Strategy January 15). That must be because it’s far too conservative for Barclays. If you ring Barclays for a pre-approved mortgage limit figure on behalf of a client, nine times out of 10 it’s […]

Money Partners warns of lender price war

Money Partners is predicting a price war among lenders in 2007 as the market grows to the point of saturation, with US investors being first to run in the event of a downturn. The UK market has recently seen Merrill Lynch, Lehman Brothers and Morgan Stanley enter the lending sector, along with General Electric and […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.

Newsletter

News and expert analysis straight to your inbox

Sign up