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PTFS sees £230m completions in one week

Personal Touch Financial Services recorded a colossal £230m in mortgage completions last week alone.

Last November, PTFS revealed that it had reached an all-time high of £11bn in mortgage completions but that total has now climbed up to £12bn.

PTFS is now aiming to hit £20bn in completions by the end of this year.

Dev Malle, director of mortgage distribution at PTFS, says: “This is a great milestone so early in 2007. We have ambitious growth plans and this confirms that we are on track to achieve our challenging targets.

“A combination of the organic growth of our core business and our aggressive launch into the direct-to-broker market should mean we are well placed to meet our objectives.”


Storage firm seeks REIT status

Storage firm Big Yellow is trying to change its tax status from that of ‘trading to rental’ to being a real estate investment trust. It is arguing that its sale of space can be seen as rent, but without a reassessment of the tax treatment of its income it would not qualify for REIT status.

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 […]

AHIPP extends area trials

The Association of Home Information Pack Providers has extended its area trials to a further 12 locations across the UK. The additional locations are – A section of the M4 corridor to include Reading, Basingstoke and Wokingham, Manchester, Cardiff, Coventry, Hereford and the Marches, Bristol, Leicester, Chelmsford, Nottingham, Plymouth, Liverpool and the Thames corridor from […]

Borrowers should not get themselves in a fix

As lenders fall over themselves to pull, reissue and reprice their fixed rate offerings in the wake of the recent interest rate rise it’s hardly surprising that two themes are emerging.


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