An overwhelming 73% of the industry says Mortgage Express should have named and shamed the business development manager found to have been advising brokers how to mis-sell self-cert mortgages.While MEX withheld the name of the individual involved for the sake of their career, it seems brokers take a dim view of anyone or anything that could bring the industry into disrepute. Only 28% agreed that MEX was right to keep their name under wraps. This week Mortgage Strategy asks: “Is a dirty tricks campaign against a competitor unacceptable or is all fair in business and war?” Visit www.mortgagestrategy. co.uk to have your say.
Barnetts Solicitors senior partner has welcomes the introduction of Home Information Packs as a benefit to first-time buyers and potential cost cutter for customers. Statistics shows that 1m a day is wasted as a result of consumers spending money on valuations, legal advice and searches for house purchases that fail. Mr. Barnett, founder of Barnetts […]
The Legal & General Partnership today announced that since November 1 2004, it has reached lending volumes of 18.5bn.L&G went through a massive transformation pre Mortgage Day, to ensure its firms had the compliance support to be able to trade successfully in this new market. A risk based technology system featured heavily in this, to […]
MortgageStream, the mortgage broker case management software will launch Version 3 of its software at this years Mortgage Business Expo in London on November 16 and 17.The current version of MortgageStream was launched at last years expo and ensures brokers can manage new business pipeline, relationships and sales communications with clients. Version 3 has been […]
Mortgages PLC has been accused of trying to drum up business with a dirty tricks campaign against Infinity Mortgages. The Merrill Lynch-owned sub-prime lender sent a letter to brokers last week entitled ‘More than Infinity? Yes it’s possible’, which explains that it no longer funds Infinity products. The letter goes on to say: “We would […]
James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist
The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading
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