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LIVE FROM JEREZ: 25% of intermediaries could disappear in two years

A quarter of intermediaries currently operating in the mortgage market could be forced out of business in the next two years if current market forecasts are to be believed.

Chairing a question and answer session at Mortgage Strategy’s Mortgage Summit in Jerez, John Malone, managing director of Premier Mortgage Service says the disparity between the value of the market last year and current predictions for the end of 2005 means something has to give.

Malone told delegates: “Figures published by the Council of Mortgage Lenders in August predict that the market will be worth 228bn next year.

“Considering the market at the end of last year was worth 291bn, this suggests that there may be less business to go round.”

For the full story, see next week’s Mortgage Strategy.


Which? slams “”inadequate”” FSA

In response to the FSA’s latest ‘Financial promotions mortgage and general insurance bulletin’, Laurence Baxter, principal policy adviser at Which?, says: “In relation to the selling of protection products, the FSA has uncovered a catalogue of mis-selling tactics including scaremongering and unsubstantiated claims. But the FSA’s response to tackling these problems is woefully inadequate. Instead […]

Advantage launch new Kensington near prime max mortgage

Advantage Home Loans, the branded mortgage arranger and specialist in the heavier sub-prime market has launched a new exclusive near prime max mortgage with Kensington Mortgages. Sarah Jones, product manager at Advantage, says: “We are excited about the launch of this new product and are delighted to have this product for brokers who have clients […]

Kensington launches capped rate product for sub-prime market

Kensington Mortgages has launched a competitively priced three year capped rate product designed exclusively for the non-conforming market. This innovative product will be available across all of Kensingtons standard product range, with rates starting from as low as 5.60% p.a. Keith Street, Director of Sales, says: The Kensington capped rate product is ideal for the […]

Yorkshire rents hold steady

The August edition of Paragon Mortgages’ Buy-to-let Index shows that despite a seasonal slowdown, regions such as Yorkshire and the North-West continue to outperform other parts of the country. Yorkshire saw rental incomes rise from 9,383 in June to reach 10,495 in July. Over 12 months, rents in Yorkshire rose by 36.7%.Landlord property values in […]


Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


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