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A&L cuts DA proc fee

Alliance & Leicester is reducing its proc fee to directly authorised brokers that do not use a mortgage club or key account to submit applications.

From March 31 A&L is cutting its proc fee from 0.25% to 0.20% if brokers fail to select a mortgage club when submitting applications.

The standard proc fee of 0.20% will be paid regardless of product term or product type for brokers who do not select a mortgage club.

The lender says the fee change will be fully disclosed both to brokers and clients on the Key Facts Illustration.


Days of the broker are not numbered

Some people are suggesting the rise of the internet comparison site could spell the beginning of the end for brokers. But advisors do far more for customers than just find the best deal

Pick ‘n’ mix is way to sell insurance

With household names like Woolworths feeling the full wrath of the recession, it serves as a reminder that during these difficult times it has never been more important to protect ourselves against life’s risks and use types of insurance that can be tailored to meet any budget or life stage.

Market watch 23.03.09

Swaps had a mixed week. At the beginning of the week they surged before settling back slightly. Shorter-term money edged lower than the previous week whereas longer-term rates increased. Three-month LIBOR is now 1.81%.
1-year money is down 0.07% at 1.71%
2-year money is up 0.01% at 2.21%
3-year money is up 0.06% at 2.52%
5-year money is up 0.07% at 3%

Stop letting targets get in the way of delivery

The positivity at RESI was pleasing to see, with lots of encouraging discussion about the private rented sector (PRS), the possibility (or hope) of stamp duty cuts on the way in the Autumn Statement and the general prospects of residential property in this post-Brexit vote world. However, that positivity was often tinged with some negativity […]


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