View more on these topics

MI launches branded lending service

The service is called Prestige and Preferred is the first lender to team up with Mortgage Intelligence to provide an exclusive range of products. The Prestige range includes Right to Buy and buy-to-let up to 90% status on Preferred&#39s light range, rental coverage for buy-to-let from just 100%, with income top-up available.

MI says the fact that the range gives it the capability to underwrite cases inhouse will speed the process. It aims to turn cases round in 24 hours.

Sally Laker, managing director of MI, says: “Exclusive products and fast service from our inhouse underwriting team will be a defining aspect of Prestige. As we edge towards regulation our focus is on delivering tangible benefits to members and Prestige is a great example of this. We will be working closely with other lenders to extend the product range.”

Shaun I&#39Anson, partnership lending manager of Preferred Mortgages, says: “We specialise in the non-conforming market and have a reputation for flexible underwriting. This is highlighted by the fact that our underwriters will be based at the MI head office in Bournemouth.”


Here&#39s hoping the FSA won&#39t change stance on packagers

Having read the contents of the letter from Dr Eleanor Linton of the Financial Services Authority to the Council of Mortgage Lenders&#39 senior policy adviser Kate Main in the last issue of Mortgage Strategy, I have come to the following conclusion. As long as a packager has no direct contact with customers and only provides […]

On the beat

That is not to say that the need for non-conforming has not always existed, but the sector in its modern, organised form now commands around 15% of the market. Prior to the arrival of non-conforming lenders customers needing a mortgage but unable to borrow were forced to pay exorbitant rates. Not so now. There are […]

UK&#39s rich to break the 1m barrier

And it reveals that their liquid wealth is expected to register a total rise of 50% over the period. The number of high net worth individuals in the UK grew by over 100,000 in 2003, with the UK is currently home to almost 750,000 individuals with more than £200,000 in liquid assets.  Their combined wealth increased […]

Nationwide on track to launch KFIs from mid-October

The society says intermediaries will be able to obtain its KFIs in three ways: directly from its website; from the Mortgage Trading Exchange; and via other sourcing systems. It says any KFIs sourced either from its site or from MTE will be guaranteed penny perfect. It adds it is co-operating with other sourcing systems to […]


News and expert analysis straight to your inbox

Sign up