7 April 2008

TMW pulls entire range

The Mortgage Works has pulled its entire product line from 5pm today.

Darling calls on G7 to unite against crisis

Chancellor Alistair Darling has called on the world’s economic leaders to unite and take urgent action to stave off “the biggest economic shock since the Great Depression”.

Elephant Loans & Mortgages set to buy Financial Trade Partnership

Elephant Loans & Mortgages has agreed outline terms to acquire Financial Trade Partnership, which operates the UK’s largest network of secured loan advisers.Given the relative size of FTP to Elephant, the deal requires the approval of the company’s shareholders at a general meeting of the company.Once appropriate legal and financial due diligence has been completed […]

Future reviewing position in the secured loan market

Future Mortgages is reviewing its position in the secured loan market and had suspended online applications and completions.The Citigroup owned lender is believed to be going to make an announcement in the next few days regarding whether it has decided to pull from the secured loans market.Future suspended its secured business on Friday while it […]

A&L to cut SVR by 0.25%

In line with the Bank of England’s recent interest rate cute Alliance & Leicester will be reducing the SVR on its mortgages by 0.25%.

Chaseblue acquires remaining shares from minority shareholder

Specialist packager Chaseblue Loans has bought the minority shareholding from Chase UK Corporation for an undisclosed amount.Adrian Whittall, chairman of Chaseblue Loans, which packages commercial, bridging and secured finance loans, says: “We have been discussing this transaction with the directors of Chase UK for sometime. This arose from Chase UK’s desire to focus on its […]

Marketing duo defy market conditions to launch packager

The two directors of finance marketing agency LUXMedia have joined forces to launch specialist packager White Label Money.Darryl Dhoffer and Travis Hurlock have also enrolled the help of Jaxon Stevens who has ten years experience of the specialist markets, and will work as sales director.The packager will focus on equity release, IVAs, bridging loans, commercial […]

CML urges BoE to lead global action

The Council of Mortgage Lenders chairman has urged the Bank of England to lead a global action plan to alleviate turmoil in the financial markets.

The satellite packager debate

The packager market is split at the moment as to whether satellite packagers can offer the industry any value. So, we’ve got two industry figures to fight out their corner. Dale Jannels, sales and marketing director, All Types of Mortgages Having reviewed the ongoing debates from various sources, I feel there is a wide mis-match […]