Estate agency Spicerhaart has reinstated Halifax on its mortgage panel and is ditching its single-tie agreement with Legal & General to become multi-tied.All five HBOS brands were removed from the panel more than a year ago following disagreements over the direction in which the companies were headed. Peter Gladdy, director of Mortgages Direct, the advice arm of Spicerhaart, says: “There were a number of reasons HBOS was taken off the panel. Our cultures were not heading in the same direction. “At the time, Michael Bolton – who was still at HBOS – did not want to support our sourcing systems and TMB was cross-selling. There were also several service problems. These questions have now been resolved which is why HBOS has been reinstated.” Ed Payne, national account manager at Halifax, says: “I am delighted that the first nat-ional account we have signed up since I joined HBOS is Mortgages Direct. “The facilities we are offering will help us to grow both of our businesses.” Intelligent Fin-ance and Bank of Scotland have also rejoined the Mortgages Direct panel while the products from BM Solutions and The Mortgage Business will continue to be available through Mortgages Direct’s packager partner Mortgage Times. Spicerhaart has also dropped its single-tie agreement with Legal & General three years after it was forged. The company’s mortgage protection business will now be multi-tied to a number of companies. Gladdy adds: “The decision was made to enhance customer service. Having L&G as the sole provider meant customers had just one policy. By being multi-tied we have seven companies for customers to choose from. L&G is still one of those companies. We are continuing to work with it and have no problem with its service. The decision was made for the benefit of customers.” A spokesman for L&G says: “We’ve had a fruitful relationship with Spicerhaart for three years and will continue to work with it.”
LMS launched its remodelled packager-based remortgage service at Jerez last week. The revamped remortgage service is designed to be cheaper and faster, with data collation taking place at the front of the remortgage process with automation used wherever possible. Dominic Toller, director of marketing and new business at LMS, says: “Traditionally, remortgages are done in […]
The Financial Services Authority has increased the average size of its fines this year by 23%, as it tries to crack down on wrong-doing in the financial services sector.Its annual report, publsihed today shows it levied 17.43m in financial penalties during the year.However 13,960,860 was paid by Citigroup Global Markets Limited and 3,469,140 by 16 […]
Front and back office systems from Plum Software, the independent specialist software house for financial advisers and mortgage brokers, can now integrate with Aequos Engage, Defaqtos new product selection tool.This move will benefit advisers by enabling relevant data held on each system to be readily transferred to the other. This will speed up the advice […]
The Department for Communities and Local Government has slated the findings of an independent study commissioned by GMAC-RFC into the economic impact of Home Information Packs as absurd.The study, carried out by Oxford Economic Forecasting, looks at the economic impact of a 10% and 25% fall in housing transactions arising from the imposition of a […]
Do macro headlines create white noise which impacts market prices? Portfolio Manager at Harris Associates, David Herro, discusses how market volatility can create opportunities to buy good business at a discount.
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