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BDS Secured Loans extends 10% proc fee promise

BDS Secured Loans has extended its pledge to pay brokers an extra 10% commission on all deals received by April 30.

The firm, which launched last September, already offers brokers half of the case income it receives after costs.

Mark Clinton, director of BDS, says: “There’s no doubt we’re working in a challenging marketplace.

“This makes it even more important for us as a master broker to implement extra initiatives to add greater value to brokers’ propositions while maintaining good service with quick and efficient processing.”

John Lukanik, director of Capricorn Mortgages, says: “This incentive sounds fine for brokers looking for extra income but they must ensure they’re giving best advice.

“A deal like this isn’t likely to push us into secured loans. We’d be more likely to farm out that business because we object to chasing proc fees.”


MPs warn Treasury of underestimating risks to economy

The Treasury Committee has warned the Treasury it may be underestimating risks that the liquidity crisis poses to the UK economy.In its report on the Budget 2008, the committee says the Treasury may have given “insufficient weight” to the risks of continued financial market turbulence in making its forecasts for economic growth.John McFall, chairman of […]

Halifax to launch FTB range on Monday

Halifax will launch on Monday a dedicated range of products for first-time buyers, quashing rumours that it was set to mirror First Direct and suspend lending. Products on the first-time buyer range will include a five-year fixed rate deal at 5.69% at 90% LTV.Although the UK’s biggest lender has also revealed that it will now […]

PMS Q1 completions down 20%

Mortgage Strategy can today unveil the full extent of the credit crunch with news that completions at Premier Mortgage Service plun-ged 20% in Q1 compared with the same period last year.

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Financial advice can benefit customers by £40,000

New research shows those customers who receive financial advice can be better off on average by £40,000 We’ve sponsored a research project with the International Longevity Centre – UK (ILC-UK) to produce ‘The Value of Financial Advice’ report. This independent research demonstrates that customers who take financial advice can, on average, be £40,000 better off than those […]


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