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PMS goes back on its exclusives decision

Premier Mortgage Services has decided against withdrawing its exclusive products from the Mortgage 2000 Encore sourcing system saying it hopes any issues can be resolved.

On Friday PMS issued a statement saying it was withdrawing its exclusives with immediate effect. But following discussions with Mortgage 2000 managing director Sean Hornsby, PMS managing director John Malone says that for now he has agreed to keep its exclusives on the Encore system.

Malone says: “Sean and I will be sitting down next week. I would like a link allowing PMS members to access the MTE through Encore and be recognised as PMS members, which they cannot do.”

He adds he will give a period of time for this to be resolved but will consider withdrawing products if it is not.

Hornsby says: “If John wants this link for PMS members, he can have it. We just have to look at the best way forward from an IT point of view.”


FSA sets out its approach to mortgage regulation

Speaking five weeks after more than 7,000 firms came under the FSA’s mortgage rules, Clive Briault, FSA managing director of retail markets, said the FSAs initial supervisory priorities for the mortgage regime would be policing the perimeter and cracking down on unauthorised firms.And the FSA will also be looking at financial promotions; product disclosure; lifetime […]

Chancellor fails to cheer homebuyers, says Halifax

UK homebuyers will be disappointed the chancellor did not take the opportunity to reduce housing tax policy, stamp duty and inheritance tax, says Halifax.The UK housing market remained strong in 2004, with house prices rising by 16.8% during the year. Halifax estimates that the government currently takes around 4 billion each year from residential Stamp […]

FSA conducting review of KFIs

The Financial Services Authority has confirmed that it is conducting a review of Key Facts Illustrations, saying that “less is more.”In a speech today at the annual conference for the Council of Mortgage Lenders, Clive Briault, managing director of retail markets at the FSA, says it has started to review examples of KFI documents to […]

Rents raising at fastest ever rate for three years, says RICS

The Royal Institution of Chartered Surveyors residential lettings survey for three months to the end of October 2004, says rents are rising at their fastest pace for three years.The rent increases are due to rising tenant demand which is outpacing newly available rental properties in the market. 23% more surveyors report a rise than a […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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