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HBOS market share rises to 22%

HBOS’ gross market share in the mortgage market increased to 22% in the first half of 2006 – a 1% in- crease on last year’s figures, its interim results reveal.

The results also show gross mortgage lending was 35.2bn as of June 30 this year, more than 7bn up on the same time last year.

Nigel Stockton, managing director of HBOS Mortgage Intermediaries, says: “We’re pleased with these numbers. Our improved net share proves we’re not reliant on any individuals – including myself.”

HBOS brand The Mortgage Business saw a whopping 87% rise in applications. Gross advances were up 57%, with June being the biggest month of applications ever at 665m.

Staff numbers have increased by 20% to 240 since managing director Nigel Payne took over last Sept-ember, and are expected to rise by another 10% by the end of the year.

Payne says: “Out of the whole HBOS group we had the furthest to travel. Now we’ve got a team that is focussed on its target market and that strategy is driven throughout the team.

“My frustration in the first six months of this year was that we could do more. There is still much to do so our growth will continue.”


Rate change will hit borrowers, say Lib Dems

The Liberal Democrats say the rate change last week will hit those in debt, especially borrowers with variable rate mortgages.Shadow chancellor Vince Cable says: The rise in interest rates points to serious concerns over high energy and house prices.“The impact of this rate rise will be felt most severely by those with variable rate mortgages.“At […]

Edeus names chosen packagers

Edeus has revealed the names of the initial group of selected packagers it will work with.Peter Charge, director of national accounts at edeus, says: We have gone on record as having reservations over some, but certainly not all, packagers. edeus has conducted appropriate due diligence and has chosen a selected initial group of packagers with […]

AToM adds edeus to lender panel

All Types of Mortgages has welcomed lender edeus into the market place by joining its circle of trust packager panel. AToM is one of the first 15 firms to join the panel. and will have access to edeuss product range once it is launched in early September. Richard Hearn, managing director at AToM, says: “The […]

Lenders must see things differently

I am a supporter of the management theories of Tom Peters. He was at the height of his management guru status in the late 1980s and early 1990s but his thoughts still ring true. More lenders should review his works and start to look at the way they treat their customers – from their customers’ perspective.

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Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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