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TMO receives its MTA letter

Mark Charlesworth, managing director, says: “We are pleased to announce receipt of our MTA letter, which endorses our detailed plans post Mortgage Day.

“After discussions with our membership earlier in the year we know that many will be directly authorised after October 31 and that it will be business as normal. However, many others are looking at the introducer route. Consequently we put together a unique proposition which gives our members three introducer options. These options are currently being promoted at roadshows across the country.”

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TMW lowers rental income ratio on B2L deals

The previous ratio was 130%, which has now dropped to 125%. This will be based on a nominal rate of 5.99% or the actual pay rate if higher up to 80% LTV. Paul Howard, associate director for Portman Group Intermediary says that after the recent interest rate rises it didn&#39t seem right to factor in […]

Network Data launches exclusive products funded by Abbey

Details of the products are as follows: 4.64% two year stepped rate tracker at 0.11% below Bank of England in Year one and 0.49% above in year two, reverts to SVR currently 6.75%, with no extended tie in and included remortgage package. Network Data will pay 0.25% procuration fee for paper applications and 0.30% for […]

Market Watch

• One-year money is down 0.10% to 5.14%• Two-year money is down 0.10% to 5.15%• Three-year money is down 0.09% at 5.20%• Five-year money is down 0.06% to 5.27% Refreshingly, most lenders seem to be increasing their SVRs by just 0.25% in line with the base rate increase. RBS has brought down its two-year fixed […]

Nationwide takes best (and worst) service award

While Nationwide was voted as giving the worst service to brokers at the ceremony in Bristol, in a bizarre twist subsidiary UCB Home Loans was voted as giving best service. Andrew Forsey, managing director of Andrew Forsey Financial Services, asked brokers via Mortgage Strategy&#39s letters page to vote on the best and worst service among […]

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