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Mortgage Choice to offer low application fees

The company has reviewed the application fees of comparable national distributors and lenders and will pitch its own fees at a level which will place Mortgage Choice as the lowest-cost option among similar products shown on the Trigold mortgage sourcing system.

Doug Hall, sales director, says: “Under statutory regulation, the FSA&#39s requirements commit firms to recommending the cheapest available product for a client, unless other factors such as speed and quality of service are more important in a particular case.

“This means that most mortgage intermediaries will be looking for the lowest cost option among similar products on sourcing systems. As a packager that has always kept its administration charges amongst the lowest in our sector, Mortgage Choice is taking the opportunity to offer the best possible value to intermediaries and borrowers, in the period leading up to M Day.”


B&B dismisses claims it is facing staff walkout

Recent reports in the national press speculated that staff were concerned about the incentive scheme B&B introduced for them in January, leading to the possibility of a staff backlash. There have been accusations that the scheme requires advisers to sell a set number of policies to receive bonuses rather than recommend deals that best suit […]

Infinity Mortgages reduces application fee

Infinet, which can be accessed from September 30 via Infinity Mortgages website, provides brokers with the ability to produce accurate Key Fact Informations, source products, submit an online application, track cases and proc fee payments and submit a decision in principle request. The system is available 24/7 and provides user-friendly navigation and functionality. Matt Gilmour, […]

The Mortgage Mole

Self-less The champagne was flowing on Thursday night at the Pink Home Loan awards – more for some than others. But taking Pink&#39s Dev Malle and NatWest&#39s Mary Jayne-Carey out of the equation, there were plenty of other mishaps on the night too. Step forward St Michael of Bolton, the illustrious director of mortgages at […]

Fannie Mae accused of impropriety

In a statement released last week by presiding director Ann McLaughlin Korologos, the board said the Office of Federal Housing Enterprise Oversight has questioned the “validity of previously reported financial results, the adequacy of regulatory capital, the quality of management supervision”, as well as the “overall safety and soundness” of the Congressionally-chartered company. Following the […]

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]


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