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BDS wants 60 packagers by 2008

BDS Mortgage Group is looking to have 60 satellite packagers on board by the end of 2008. At the start of the year it had 45 satellite packagers and was aiming to increase this to 60 by 2009. But with nine taken on in the past few weeks alone and another six being turned down because of question marks over volumes and quality, BDS has brought its target forward. The packagers says it has had a flood of enquiries from small packagers being squeezed from the market by lenders wanting to reduce distribution. It cites its links with Pink Home Loans and Skipton as a possible reason for the enquires.

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Over 2,000 products withdrawn this month

Lenders have withdrawn over 2,000 products in the past month, says eMoneyfacts.co.uk.Denise Harvey, mortgage analyst at eMoneyfacts.co.uk, says smaller building societies that had escaped much of the pain of the liquidity crisis are now being affected with full out withdrawals replacing increases in rates or tightened criteria.She says: “It seems that there is no stopping […]

CHL to make 50 redundant

CHL Mortgages has revealed 50 redundancies as part of plans to slash mortgage business in the coming months.The specialist lender and subsidiary of Irish Life & Permananent says it will spend 2008 focussing on credit quality and margins.The redundancies represent a fifth of the firm’s 250 person workforce.Bob Young, managing director of CHL Mortgages, expressed […]

Gross lending falls £1.9bn in February

Gross mortgage lending fell £1.9bn from £25.9bn in January to an estimated £24bn in February, says the Council of Mortgage Lenders.The drop also represents a 6% fall in lending from £25.6bn in February 2007. The CML says the Bank of England approvals data for January showed subdued levels of house purchase activity and a sharp […]

Reader interest piqued by loan guarantee deal

some 61% of Mortgage Strategy Online readers will explore the government-backed Small Firms Loan Guarantee scheme intended to help com- panies survive the market downturn. The remaining 39% won’t bother looking at the funds.This week, Mortgage Strategy asks: “Will you encourage clients to consider long-term fixed rate mortgages?”

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