View more on these topics

HBOS may launch rival to packagers’ DIY lenders

HBOS could launch a new brand to the mortgage market to compete against the growing number of do-it-yourself lenders entering the arena in the past 24 months.

Nigel Payne, managing director of HBOS subsidiary The Mortgage Business, made the throwaway remark while talking about the flood of DIY lenders entering the market from packaging associations, such as the Professional Mortgage Packagers Alliance’s Unity and Freehold’s FML.

He adds: “There was speculation two years ago that the packaging market would be dead by now so you can see why packagers have looked at this option. From a lender’s point of view, it keeps us on our toes.

“But you can never have enough competition and there is no reason why a sixth brand from HBOS might not come into play.”

When asked whether they were considering forming lenders, seven out of 10 packagers admitted to thinking about such a venture, but eight out of 10 established lenders didn’t think these possible providers were a threat.


Merrill enters Irish market

Merrill Lynch and Irish Life & Permanent have formed a joint venture to sell specialist residential mortgage loans in the Republic of Ireland. The joint venture will be named Springboard Mortgages and will be offering products and services to third party mortgage intermediaries. Springboard will have its own staff and management team, based in Dublin. […]

Stay focussed in turbulent times

Understanding clients is paramount during a period of interest rate uncertainty and brokers who keep their eyes on the ball should thrive, says Mark Harris

Checklist to speed up packaging

Commercial First has introduced a submission checklist to improve speed and accuracy in the submission of packaged mortgage applications. It includes a summary of the application plus a list of documents to be submitted, and is cross-referenced to the product to which the application refers.

Landlords prefer to buy closer to home

New research for Landlord Mortgages has revealed that just over 77% of buy-to-let investors still choose to invest in their local area. Even in London, which boasts some of the highest house prices in the UK, over half of investors still choose to buy a property within five miles of their own residence.Investors who were […]

piggy, cash, money

A tailored approach to protection

By Ian Smart, Product Architect, Royal London In an ideal world, clients would be able to afford as much protection cover as they wanted, but few would describe current times as anything approaching ideal. But this doesn’t mean that they have to indulge in an either/or decision that results in missing out on some essential […]


News and expert analysis straight to your inbox

Sign up