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Broker wins weekend in fast lane

Christopher Sealey, a broker at Ridgeway Mortgages, is the latest winner of Paymentshield’s Aston Martin Challenge.

Until the end of December, Paymentshield will select one winner a month to spend a weekend at Gleneagles and take an Aston Martin Vantage (pictured) for a spin.

To enter, all you have to do is sell one of the firm’s general insurance products in support of a remortgage case each month. The government launches its shared equity Open Market HomeBuy scheme to industry derisionStandard & Poor’s approves automated valuation models, sparking AVM competitionPrime Minister Tony Blair pledges help to first-timers with low mortgage rates and high living standardsNorthern Rock announces an annual 41% increase in net residential lending as competition hots upIn the first of a series of deals, Bradford & Bingley acquires a £650m loan book from GMAC-RFCThe CML attacks the FSA for using CP98 to try to regulate mortgage advice by the back door


Brokers income to drop by 40% predicts AMI

Income for brokers will be 30-40% below 2007 levels, says the Association of Mortgage Intermediaries in its research paper into the credit markets one year on from the credit crunch.

FSCS to give £14bn to protect B&B deposits

The Financial Services Compensation Scheme is contributing £14bn to allow retail deposits held by Bradford & Bingley to be transferred to Abbey.

FSA fines broker £28,000

The Financial Services Authority has fined TBO Investments £28,000 for failing to clearly document the explanation of the risks of transactions to clients.


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