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InterBay plans to axe up to 25 jobs

InterBay is to axe up to 25 jobs despite record levels of business over the past month. The specialist commercial lender says that worsening market conditions have led to its decision. The cuts will be made across the company and all departments are expected to be hit.

Staff have now entered a 30-day consultation period. Colin Bell, managing director of InterBay, says: “It’s not an easy thing we’re having to do. What we want to do now is protect the business in the long term. To do that we have to make a number of changes. That’s likely to lead to staff being reduced.”


Kensington appoints new head

Keith Street has been appointed as the new head of Kensington and will effectively replace the role of outgoing chief executive Alison Hutchinson.

MTE links up with Ipswich

The Mortgage Trading Exchange’s 26,000 users can now complete online applications for Ipswich’s mortgages regardless of which sourcing or point-of-sale system they use.

Paradigm launches large loan exclusive with Bank of Scotland

Paradigm Mortgage Services has launched an exclusive large loan product with the Bank of Scotland.The three-year large loan fixed rate product is offered at 5.75% up to April 30 2011. The product is available to 90% LTV on mortgages over £500,000, up to a maximum of £2m, and comes with an arrangement fee of 0.5%. […]

Third draft for packager code

Third draft for packager code The Association of Mortgage Intermediaries’ code of conduct for packagers is about to enter its third draft. AMI hopes it will be implemented in April.


Under the radar – Fit for Work and sickness absence

Earlier this month we sat in on a presentation delivered by the Fit for Work service, and this session did highlight one small but important change to the offering that we must admit had slipped under our radar. The Sickness Absence Review published in 2010 suggested that the Independent Assessment Service (now branded Fit for Work) should have three access points; referral by […]


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