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Cheval Property Finance receives full FSA authorisation

Benson Hersch, Cheval&#39s managing director, says: “Not all bridging loan lenders will continue to operate in the regulated domestic market, as they will be concentrating on unregulated loans in future. Cheval, on the other hand, took an early decision to apply for FSA authorisation in

order to take advantage of the increased business opportunities from November 1 onwards, both in the domestic and commercial bridging loan markets.

“We are all delighted that we have received our FSA grant of permission, and special thanks go to all staff who have worked so hard to achieve this important milestone.”


Infinity to launch compliant KFI this week

From September 30 the KFI facility will be available on Infinet, the firm&#39s new online application system, although it will not be allowed to use the KFI and Financial Services Authority branding until M-Day, October 31. Infinity, a sub-prime lender launched only nine months ago, has been testing the KFIs, developed with technology support from […]

BMS is hiding behind rules in a push to secure distribution

Regulation is approaching and we have entered the silly season. The interpretation of &#39responsible lending&#39 by some lenders has taken on a life of its own. BM Solutions&#39 interpretation is to cut broker fees for sub-prime cases to remove the possibility of any bias toward those products that pay higher proc fees. This is a […]

HBOS says systems will be ready for packagers

A packager source tells Mortgage Strategy it has been unable to obtain a guarantee from HBOS that it will definitely continue to do business with it come October 31. One packager says it was told by HBOS that although the group is committed to packagers, its IT systems may prevent it from dealing with them […]


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