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Packagers get faster at submitting applications

Packagers submitted applications one day faster in Q4 2006 than in Q3 2006 on average, research by The Mortgage Business reveals.

Analysis of the figures reveals that respondents found the time required from case application to offer was 8.8 days on average.

This figure is significantly down on the average of 9.9 days revealed in the Q3 2006 survey.

It looks like this timeframe could fall even further as the research also points out that 90% of packagers are planning to invest in some form of information technology in the next three months.


Abbey on cusp of sub-prime

Abbey is believed to be on the brink of launching into the sub-prime market with a light prime proposition.

Bright Finance unveils growth plans

Bright Finance, a consumer credit organisation, has unveiled growth plans that include more than 20 new jobs.The expansion comes after a successful 12 months for Bright, who processed more than 1bn in loan applications last year from its 200-strong workforce based at Chapeltown in Yorkshire.Bright Finance acts as a broker between customers seeking credit and […]

RAMP completes 1bn in Q4 2006

The Regulatory Association of Mortgage Packagers has revealed that it broke through 1bn in completions for Q4 2006 – 23% higher than in 2005.RAMP’s 10 member companies have produced 4bn in completions during 2006.John Rice, managing director of RAMP, says: We are predicting growth of around 25% in 2007 for RAMP. “Panel lenders can look […]

BBA reports December mortgage lending of £18.1bn

The British Bankers Association has revealed that December’s gross mortgage lending was £18.1bn, 7% more than the £16.9bn in December 2005. In line with seasonal patterns, this total was well down on November’s record of £21.4bn.There were 123,518 mortgage approvals for all purposes in December, with an aggregate value of £13.4bn. The average loan approved […]


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