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Network Data profits hit by Hipstar demise

Network Data Holdings’ profits have plunged by more than a third as a result of the 1.5m in losses it suffered due to the collapse of subsidiary Hipstar.

Group turnover fell by 34% to 10.6m in the first half of 2008 compared with 16.1m during the same period in 2007.

The results also reveal group trading losses of 132,000 compared with a 1m profit last year.

Its appointed representative network Network Data broke even in the first half of 2008. It generated 1.2m profit in 2007.

Richard Griffiths, chief executive of Network Data Holdings, says: “We continue to aggressively pursue cost reductions with a view to improving performance.”

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BSA sees approvals sink 31% to £2.8bn

Net mortgage approvals have plummeted 31% year-on-year in August to £2.8bn from £4bn in 2007, reveals the Building Societies Association.

Choose booze

Mole’s never been one for maths but you can buy him a beer on these sums any day. If you had purchased 1,000 worth of Northern Rock shares a year ago they would be worth 4.95 today. With HBOS, the same amount invested earlier this month would now be worth 16.50.

Mojitos and mortgages

Last night I was forced to drink Mojitos until 2 am so am feeling tired
and emotional today.

MortgageStream teams up with Lime Network

Lime Mortgage Network has added the MortgageStream system to its panel of products and services available to its appointed representatives and directly authorised members.

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.

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