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PMPA defends its position on BMS

The Professional Mortgage Packagers Association has hit back at claims that it is undermining the wider packaging community by supporting BM Solutions.

Sub-prime packager The Finance Centre says the PMPA is wrong to back BMS&#39 &#39seal of approval&#39 campaign. Wayne Smethurst, senior partner at TFC, says: “For PMPA to back such a campaign is very naïve or a gross error of judgement. No organisation that claims to have the interests of packagers at heart should be involved in attacking other members of that community.”

But Jon O&#39Brien, group manager at PMPA, says: “We were simply informed that the PMPA logo would be included in an advert for the BMS campaign. Smethurst has got a few things wrong. He has intimated that only the PMPA has a relationship with BMS, but in reality the seal involves non-members such as Pink Home Loans and The Mortgage Operation.”

And Mark Charlesworth, managing director of TMO, says the TFC&#39s calls for a boycott of PMPA are poorly thought out.

He says: “How do you boycott something you&#39re not a member of? And you could argue that being a member of PMPA assists packagers who then have access to BMS products whereas individually they might not have.”


Price inflation falls again

The Hometrack national November survey of the housing market reveals house price rises averaging only 0.2%, writes Helen McCormick.This is the sixth successive fall in house price inflation since May&#39s peak of 2.6%. The slowdown has been mostly the result of falls in higher value properties, mainly in London and the South East. House prices […]

UK life insurers failing low to middle income earners

UK life insurers are “failing to address the needs of low to middle income earners,” according to a new survey by Swiss Re Life & Health Limited, which has warned that many consumers are progressively losing touch with the industry. According to the insurance report, Whose risk is it anyway?, 6.8m households with annual household […]

Charcol offers exclusive two-year discount

Mortgage and independent financial adviser Charcol is offering an exclusive, market-leading two-year penalty-free discount rate mortgage, with a current payable rate of 3.59% (5.3% APR), available up to 85% loan to value. The product enables borrowers to take full advantage of the current low interest rate environment, whilst having the option of switching without penalty […]

Survey reveals north-south e-business divide

Northern-based IFAs claim to carry out more e-business online than their southern counterparts, according to the results of a new survey out today by Origo, the technology standards body for the financial services industry. Figures show that 61% of northern-based IFAs currently carry out more than 25% of their business online compared to only 20% […]


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