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Mortgage 2000 adds product watch to sourcing system

Mortgage 2000 has added a product watch facility to its mortgage sourcing system to help ease the problems encountered by brokers as lenders withdraw products at short notice.

The facility is updated everyday and accessed via a pop-up newscast on the main system screen. It carries details of all product changes known to be in the pipeline, alerting brokers of cases that will need urgent attention.

Alan Collinson, managing director of Mortgage 2000, says: “Our users were having trouble keeping track of lenders thatwere withdrawing products at short notice. We wanted to step in and play a part in finding a solution to these problems.

“Given the vast number of lender e-bulletins being issued, it’s easy to see how brokers could miss these direct notifications. By summarising the messages on the sourcing system screen, we’ve greatly reduced the likelihood of deadlines being missed.”

Steve Stavrou, owner of Mortgage Offers, a Mortgage 2000 user, says: “This is a helpful step. The first day this facility appeared I picked up a warning about the withdrawal of a product two of my clients were considering. I arranged to see each of them that afternoon, then completed the applications and submitted them to the lender in good time. Two pieces of business I’m not sure I would have written had it not been for Mortgage 2000’s product watch.”


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 […]

Expo Manchester to focus on commercial finance

Mortgage Business Expo Manchester will focus on commercial finance, organisers reveal today.The Expo, to be held May 14 and 15 at Manchester Central, will focus on brokers and advisers looking to explore commercial business opportunities now available.These opportunities will be discussed in the commercial property finance seminar theatre, in the Commercial Finance Zone, during four […]

House prices static in February

The Land Registry says house prices in England and Wales remained static during February, with the average price standing at £185,616. Prices in London fell by 0.4%, with average house prices dropping to £353,760. But at 10.6%, annual growth in the city remains higher than in any other region. The West Midlands experienced the highest […]

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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