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Prestbury duo may join PTFS

Prestbury chief executive Lee Birkett and sales director Kevin Sample are rumoured to have been offered jobs by Personal Touch Financial Services.

One Prestbury-appointed representative, who is awaiting commission payments from the network, says he is concerned that the di- rectors’ jobs are dependent on the number of ARs they can bring to PTFS.

He says: “This makes the retention of Prestbury’s overdue commissions more morally bankrupt than ever.

“The phrase that has been heard is that Birkett sees himself as the shepherd and the sheep always follow the shepherd.”

Mortgage Strategy has seen a letter from Lee Birkett sent to Prestbury ARs last week stating that outstanding commission will only be released once they sign contracts with PTFS.

PTFS and Birkett were unavailable for comment as Mortgage Strategy went to press.


Spare a thought for staff affected by US giants’ fall

I read with interest the cover feature about the US Federal Reserve’s rescue of Fannie Mae and Freddie Mac in last week’s Mortgage Strategy. It put me in a positive mood about the future as I began the working week.

HBOS must renew £164bn in wholesale funding

HBOS is rumoured to have been in talks with major UK banks to arrange funding for over £160bn in wholesale capital that must be renewed in the next 12 months.

B&B cuts 370 jobs

Bradford & Bingley is set to trim 370 jobs and £15m in costs as part of a streamlining exercise.

Property sales plummet for August

Figures from HM Revenue & Customs have revealed that the number of houses sold in the UK last month fell by over half compared to a year ago.


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