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West Brom completes first residential deal

The West Brom has completed its first residential mortgage securitisation, via a £320m buy-to-let financing transaction.

The transaction, called Hawthorn 1, made up of mortgages generated through the society’s intermediary lending brand, West Brom for Intermediaries, and was completed via its non-member arm, West Bromwich Mortgage Company.

Gary Cowdrill, finance director at West Brom, says: “We’re delighted to have successfully completed out first securitisation deal, which gives the West Brom greater access to the capital markets and supports our ambitious growth plans for the future.

“It has been a steep learning curve for everyone in the business, but we are now busy planning our next securitisation deal, Hawthorne 2, which we hope to complete during the next few months.”


Pain and Maltby to serve second CML term

The Council of Mortgage Lenders has confirmed that chairman Jon Pain and deputy chairman John Maltby will serve a second term in their respective positions in the trade body. The confirmation came during a meeting of the CML’s executive committee, Pain is the managing director of Cheltenham and Gloucester while Maltby is chief executive of […]

Tories say families are becoming worse off

Figures showing prices are outstripping earnings at the same time as the jobs market is stagnating have sparked concerns in the Tory party. Statistics from the Office for National Statistics last week showed that in the three months to November 2006 average earnings increased by 3.7% compared with 3.6% in 2005. With the cost of […]

Banco Halifax cuts euro rates

Banco Halifax Hispania has cut the rate on its variable euro mortgages. Repayment mortgage rates of 4.63% for loans up to 60% and 4.73% for loans up to 70% LTV are now available.

Money Partners Touch recruits BDM

Money Partners Touch, the direct-to-broker channel of Money Partners, has appointed Sheryl Andrew as business development manager for the North of England. Covering the areas of Yorkshire, the North East and the North West, Andrew will be responsible for developing the Money Partners Touch offer and building relationships by marketing direct to brokers and IFAs. […]

The Perils of Passive Investing

The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]


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