View more on these topics

Pink in consultation over redundancies

Pink Home Loans has confirmed that around 30 people are facing redundancy as part of a company restructuring programme.

40 people were placed in a consultation period last week, which has resulted in 29 to 30 job losses.

The move comes as Pink streamlines its current business model and moves away from traditional packaging.

The company is in the process of creating a technology system to efficiently manage the whole of the application process, which will in turn create 10 new jobs.

Barry Meeks, CEO of Pink Group, says: “As part of our restructure, and following on from the downturn in the market, we are looking to channel more resources into new technology, and into the network side of the business.

He adds: “It is regrettable for those people whose jobs are at risk, but the change has been driven by the new market dynamic.”

Recommended

FSA report highlights lax data controls

Poor data control is a serious and widespread problem in the financial services industry.This is the conclusion of a report by the Financial Services Authority, Data security in financial services, which advises all firms to appoint senior data security managers and to test staff’s understanding of procedures.Philip Robinson, director of the FSA’s financial crime and […]

Paragon says rents up 4%

Average rents have risen 4% during Q1 and 12% over six months to reach a new record of more than £1,000 per month, says Paragon Mortgages.

Persimmon halts new building

Persimmon Homes has blamed market turmoil for its decision to halt future building developments. The house builder says sales have plummeted and that it will resume building when the mortgage market returns to normal. Stuart Law, chief executive of Assetz Finance, says: “With the number of new-build properties set to decrease, we are moving away […]

Solent Mortgage Services signs up to Gravity

Solent Mortgage Services has become the fourteenth packager to sign up to Gravity.Solent Mortgage Services has become the latest company to sign up to use the sourcing engine behind Orbiter Group’s Gravity, mortgage sourcing and processing system.SMS will use the sourcing engine to enhance its online proposition for satellite packagers and intermediaries. The sourcing engine […]

Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]

Newsletter

News and expert analysis straight to your inbox

Sign up