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Return to profit for Skipton subsidiary HML

Third-party servicer HML swung back into profit in 2012 after suffering a £3.1m pre-tax loss the year before.

In the year ending 31 December 2012, the Skipton Building Society subsidiary made a pre-tax profit of £771,000.

The loss in 2011 was down to a restructuring of the business, a spokeswoman said at the time the 2011 results were published.

Revenue dipped 7.7 per cent from £66.7m in 2011 to £61.6m in 2012 and HML’s total assets fell from £28.2m in 2011 to £27.6m in 2012. Total liabilities fell from £7.1m to £5.7m in 2012.

Employee numbers fell from 1,231 in 2011 to 1,204 at the end of 2012.


MS Leader: The right building blocks?

The market continues to look healthy, with the Bank of England’s latest money and credit report the number of loan approvals for house purchase in July this year was 60,624, a 30 per cent increase on the 46,665 approvals in July last year. Obviously if this just creates another property bubble in hot spot areas […]

Mortgage 27 parent acquires assets of CDS Group

Verso Capital, the owner of mortgage data and software company Mortgage 27, has acquired the assets of sourcing system provider CDS Group for an undisclosed sum.

MPC holds base rate and QE

The Bank of England’s Monetary Policy Committee has voted to keep base rate at 0.5 per cent and its programme of quantitative easing at £375bn.

Lloyds Banking Group set to link broker proc fees to quality of business submitted

Lloyds Banking Group will begin linking the procuration fees it pays brokers to the quality of business submitted from the beginning of next year, Mortgage Strategy understands. The group will begin telling brokers what metrics it will use to measure quality by the end of the year. However, the change will only apply to its […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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