The Business Mortgage Company is planning a sweeping cull of its lender panel.
The commercial and buy-to-let specialist packager currently has a panel of over 20 firms. But under plans being drawn up this could be slashed to between six and eight. Andy Young, managing director of TBMC, says: “We have the opportunity to drive even greater value for customers, brokers and lenders on the back of the significantly increased volume of business now being placed. “We are reviewing the relationships we have with lenders with a view to formalising a strategic panel from the beginning of next year.” The packager has seen a massive upswing in applications during 2005. It reached the 1bn applications milestone on October 14 and despite only operating in two specialist markets, saw applications of a whopping 150m in September. This was up from 100m six months previously, and double the business written in the same period in 2004.View more on these topicsnews
Customer defections threatens mortgage industry
The mortgage industry needs to work harder to retain customer loyalty if the industry is to survive, says a survey from Group 1 Software.The survey into customer loyalty found that customer defection rates in key consumer industries have increased from 16.9% in 2003 to 19.1% in 2005. It also reports that consumers are becoming increasingly […]
Buy-to-let SIPP deals unveiled
Paragon Mortgages and Mortgage Trust are offering intermediaries tailor-made self invested personal pension mortgage products for buy-to-let investors. The lenders are inviting brokers to join a select panel that will introduce the range. The products come in response to a recent survey by Mortgage Trust that found 65% of mortgage intermediaries expect the introduction of […]
Moneynet warns borrowers of hidden expenses
Relying solely on advertised APR rates to choose the best deal on a loan could mislead borrowers into picking the most expensive product on the market rather than the cheapest, warns online financial data comparison site Moneynet.co.uk.Richard Brown, chief executive of Moneynet says: “Consumers are led to believe that the cheapest loan is the one […]
Access financial data on the web
CACI is offering financial services institutions the chance to access intelligence on mortgages, savings and current accounts via the internet. The online service replicates the data available through CACI’s established market databases.
Myth-buster: Common misconceptions about bridging finance corrected
LendInvest has been a specialist bridging lender since 2008 at the heart of a sector that has become increasingly competitive and professional over the years. Despite a surge in media coverage, a few stubborn myths about bridging finance linger. Here are the most common misconceptions. Once unpicked they reveal bridging finance to be a useful […]
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