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Brokers say they feel HBOS pinch

Brokers claim they are starting to feel the pinch in dealing with HBOS as the group attempts to reduce its market share from 26% to 23%.

They say the biggest lender in the group, Halifax, has been verbally confirming that it has changed its strategy on procuration fees and that unless intermediaries and distributors are doing certain volumes of business, payments could tumble.

Andy Wilgoss, managing director at Square Mile Mortgages, says while his firm will not be unaffected, it could have a considerable impact on smaller companies.

Matthew Bright, manager director of packager and network Optoma, says his company is frustrated at Halifax&#39s refusal to allow it to increase its proc fees to a higher level.

However, Halifax says there has been no change to its proc fee structure.


ARLA launches buy-to-let masterclasses for investors

The Association of Residential Letting Agents has stepped in to fill the education gap for investors in the private rented sector following adverse reports of expensive buy-to-let teach-ins. The ARLA masterclasses for buy-to-let investors are being launched in the North-West. The first full day seminar is to be held at the Manchester Conference Centre on […]

BDS launches three-year Platform discount

BDS Mortgage Group has launched a non-conforming three-year discount from Platform Home Loans with a bonus discount available on all cases received until the end of May 2004. The product is available exclusively to members of PMPA with a 1% procuration fee to the intermediary. The minimum loan size is £25,001 and Platform&#39s usual underwriting […]

GMAC-RFC sees record £949m worth of applications in March

GMAC-RFC achieved a record month for applications in March 2004. The UK&#39s 13th largest lender has announced its highest ever monthly figures with applications totalling £949m. In addition, completions for the first quarter of 2004 have been in excess of £1.5bn. Jeff Knight, head of marketing services at GMAC-RFC, said: “GMAC has a consistent approach […]

Rising rates drive homeowners to fix

Rising interest rates have prompted UK homeowners to think about moving their mortgage to the safety of a fixed rate deal, a survey by ICM for Direct Line Financial Services has revealed. The Direct Line survey, which is the first in a series, compares the different views of UK homeowners against personal finance journalists on […]


Health Shield joins the Association of Medical Insurance Intermediaries

Health cash plan provider Health Shield has joined the Association of Medical Insurance Intermediaries (AMII) as a corporate member. The non-profit-making Friendly Society is one of eight health cash plan providers to join the intermediary trade body, which is looking to establish working parties with intermediaries and providers on issues such as product innovation and regulation.


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