View more on these topics

New self-cert from BMS and TMO

The Mortgage Operation and Birmingham Midshires Solutions have launched a new self-cert product with no income checks, a generous two year discount with no overhang and a hefty£1,000 cashback.

Richard Stokes, TMO product manager, says: “It&#39s always easier to sell a product that has help with fees – combine that with a great discount and no income checks and we expect this product to be a best seller. It represents a great deal for clients and is one of the most intermediary friendly products on the market.”

The product&#39s current pay rate is 4.99%, and includes 0.76% discount for two years. The underlying rate is bank base rate plus 1.75%.

There are no flexible features, and the minimum loan is £25,001. The maximum LTV is 85% purchase or remortgage. Redemption penalties are 5% of the amount redeemed in year one, and 4% in year two. There is a £299 completion fee. Introducers get a marketing allowance of 0.5%, subject to a £200 minimum and £5,000 maximum.

BMS pays £450 cashback to the client&#39s solicitor on completion. An additional £550 will be paid by BMS to the client&#39s solicitor provided the case completes before 31/12/02.

Brokers should contact 0845 130 3888 for more information.


Amber amends self-cert range

Amber Homeloans Limited has amended its self-certification range by launching a new discounted rate mortgage with a maximum LTV of 85%. Brokers now can choose from three discounted self-certification loans, in addition to increased discounts on the existing products in the range. Self-certification Discount (Maximum 75% LTV) 2.50% discount off standard variable rate (currently 5.89%) […]

New customer services boss at Scottish Life

Scottish Life has appointed a new customer service director in the form of Isobel Kennedy, currently head of customer services for Royal London at their Wilmslow operations centre. Kennedy takes over from John Wallace, who retires after 35 years service at Scottish Life. Brian Duffin, chief executive of Scottish Life, says: “I am delighted to […]

Record lending at

Manchester-based short-term lender is experiencing record levels of lending. The company reports that lending is up 130% in the four weeks to July 31 compared to the previous four-week period &#45 the sharpest hike in its history. says greater flexibility offered by bridging loans over other forms of finance, such as overdrafts, is […]

US plays Patriot game over money laundering

Lenders are counting the potential costs of the war against terrorism after it helped inspire a new set of tougher money-laundering regulations, writes Harriet Williams.Under new legislation against criminal gains, banks and building societies face penalties if they fail to report their suspicions “where there are reasonable grounds to know or suspect a person is […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


News and expert analysis straight to your inbox

Sign up