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World Cup finally brings some English cheer

Mortgage Express has extensively revised its product design in response to intermediary feedback, says David Connolly, the lender&#39s product development manager.

Outlining the merits of ongoing product development, Connolly told the conference both self-cert and sub-prime product criteria had been changed by broker demand. He told delegates: “In sub-prime we amended pricing to compete, upped the procuration fee and simplified the criteria for speedier processing. In self-cert we did away with the accountant&#39s certificate and increased LTV banding.”

And he emphasised the importance of staying up to date with evolving markets. First-time buyers, lifetime mortgages, offset mortgages and Muslim mortgages are some areas of potential that Mortgage Express is keeping an eye on.

Innovative one-offs, such as the Mortgage Express-backed &#39World Cup&#39 mortgage are also a good for business. Connolly revealed that volumes on the World Cup product had “exceeded expectations” although he declined to say by how much.


House prices expected to fall, says CEBR

The Centre for Economic and Business Research has admitted it is nervous at the scale of continued house price inflation. Taking the latest views on economic prospects into account, the research body has said it is now more nervous about UK economic prospects and that house prices have risen so far even faster than they […]

American beauty

Here&#39s a good one. Which is easier: snagging tickets to a show on the current Rolling Stones tour (usually sold out) or getting an audience with an American loan officer to discuss refinancing [remortgaging] a home mortgage? If you answered the Stones tour then you probably know more about the US mortgage market than you […]

Process rethink plea

Platform Home Loans says that lenders must reassess their procedures for marginal prime/sub-prime applications with service to brokers in mind, writes Helen McCormick.Jeremy Duncombe, Platform&#39s head of sales, told delegates that lenders must see that delivering good service was as important as high productivity.Duncombe says: “Lenders must deliver a satisfactory message, not a conveyor belt. […]

Woolwich accused of fee delays

Brokers are experiencing serious delays in the payment of procuration fees from The Woolwich.In the worst cases, brokers have still not received payment for cases that completed in May. At least two national broker organisations – who do not want to be named – have complained to The Woolwich.In a memo to The Woolwich last […]

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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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