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MPLC pulls self-cert for employed

Mortgages PLC is withdrawing its self-cert facility for employed applicants.

It is also increasing all initial mortgage rates and revert rates by 0.25%.

All changes will take effect from March 11,2008.

Applications on current rates and criteria will be accepted until close of business on March 10 2008.

Applications received after this date will be assessed on the new rates and criteria.

Polly Hughes, head of marketing at MPLC, says: “We are continuing to monitor market developments carefully.

“We have increased our pricing and withdrawn employed self-cert on residential applications to ensure we can adequately control both new business volumes and credit quality.”


SHIP issues home reversion reminder

Safe Home Income Plans urges brokers to ensure they have the necessaryhome reversion qualifications in place ahead of its April 2008 deadline.

Stock Picker

Alliance & Leicester and Bradford & Bingley shares rose this week thanks to takeover rumours.Following disappointing results, investors speculated that both lend-ers’ valuations now look tempting to predators such as Lloyds TSB.But it’s important to note that we’ve been here before, particularly with A& shares went up thanks to the firm recording a 70% increase […]

Scottish trends in spotlight at Expo

Kennedy Foster, Scotland policy consultant at the Council of Mortgage Lenders, will chair a seminar on housing market trends in Scotland at the Mortgage Business Expo in Glasgow on Thursday.

MfB partners with Commercial 1

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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