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MDC unveils range of products aimed at packagers

The Mortgage Distributors Co-operative has rolled out its first suite of products for distribution by packager members including Pink Home Loans, ICMG and The Mortgage Operation.

Bristol & West is funding a discounted prime product and a tracker prime buy-to-let mortgage.

The Mortgage Business is backing a prime buy-to-let product on a tracker rate, alongside a prime self-cert mortgage that offers a two-year discount.

The MDC range is completed by two Birmingham Midshires Solutions-funded products – a prime self-cert deal and a self-cert light adverse mortgage.

The MDC is currently finalising the details of a sub-prime product, funded by BMS, which will become available later this month.

Chris Gardner, managing partner at ICMG, says: “The initial range consists of very competitive products.

“We&#39re not looking to provide the best prime products because there are thousands of providers with thousands of products. We are looking to complete big volumes in relatively small niches.”


HBOS appoints new Bank of Scotland governor

HBOS has appointed George Mitchell as governor of the Bank of Scotland and Sir Ron Garrick as deputy chairman of HBOS plc. The appointments follow the retirement of Sir Peter Burt, deputy chairman of HBOS and governor of Bank of Scotland, and take effect immediately. George Mitchell is chief executive of Bank of Scotland corporate […]

Regulatory dilemma could drive me to litigation

An open letter to Luke March, chief executive, Mortgage Code Compliance BoardDear Mr March, as the December 31 deadline loomed for the mortgage exam, I felt it was time to update you on my own situation. I sat the MAQ Bridge paper for the ninth time on December 3 2002 (and am awaiting the result […]

EU tackling financial services too fast, say investment firms

The 2005 target date for implementation of the EU Financial Services Action Plan should be set aside to ensure full consultation with Europe&#39s finance sector, says the Association of Private Client Investment Managers and Stockbrokers. APCIMS says the blueprint for harmonising the EU&#39s financial services will cause “significant problems and costs” to markets and investment […]

Abbey and British Gas plan equity release debut

Abbey National and British Gas plan to enter the equity release market in 2003. The companies will attempt to realise some of the potential £7bn value of the equity release market, which is currently worth less than £1bn. Abbey National will pilot a roll-up scheme in Eastbourne and Tunbridge Wells early this year, followed by […]


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