View more on these topics

BDS staff placed into consultation

All 27 staff at Skipton subsidiary BDS Mortgage Group have been placed into consultation.

Neil Hoare, sales and marketing director at Pink Home Loans, says it is too early to say what will happen after the consultation period ends on May 1, but it is looking at its options for the Fareham based subsidiary.

He says: “We are examining all options but BDS has not closed and there has been no change to the proposition.”

BDS Mortgage Group consists of a packager, mortgage network and a direct club.

Pink Home Loans recently reported that it was experiencing a bumper month in terms of appointed representative business writer applications and says BDS Mortgage Group, also had an excellent start to the year in terms of AR applications.

Its parent group Skipton revealed pre-tax profits of £22.5m for 2008, a large fall from its £163.9m profit in 2007.


Brokers can be confident of their future role

In February, the FSA warned that standards for mortgage advice were still disappointingly low and claimed that consumers had low levels of trust in advisers, driven by their concerns over the quality of advice and standards of service. I believe the situation is far more complicated than this.

Firms need to act swiftly to meet SRB regulations

Having published, in February 2009, a consultation paper on plans to regulate the sale-and-rent-back activity, the Financial Services Authority has clarified its intentions to regulate such transactions undertaken by sale-and-rent-back providers.

FSA bans another mortgage broker for fraud

The Financial Services Authority has banned Walthamstow-based mortgage adviser Ashfaq Ahmed for submitting mortgage applications on his own behalf that were based on false and misleading information about his income.


News and expert analysis straight to your inbox

Sign up