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RBS interest in brokers cools

The Royal Bank of Scotland has admitted that it stepped back from the broker market in the first half of 2006. In its half-year results it says: “Intermediaries are an important distribution channel for mortgage products in the UK and we are an active participant in this channel, although there can be significant swings in volumes based on competitive pricing.

In the first half of 2006 we stepped back from this market since, at the prevailing pricing, we considered the risk-reward equation unattractive to other opportunities.”

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Prestbury turnover increases by 45%

Prestbury Holdings published its results last week for the six-month period to 30 April 2006 showing a 45% increase in turnover to 4.8m.

Chris Bevan joins Colbalt Capital

Chris Bevan has joined Cobalt Capital as group business development manager, heading up the companies business development unit.Bevan previously worked at John Charcol for over seven years and was instrumental in setting up its Canary Wharf office five years ago, as well as helping to build relationships with several key corporate introducers. Most recently, Bevan […]

Timescales are important to clients

Interest rate, drawdown flexibility, LTVs and early repayment charges are the big ticket items for product selection in the equity release market. But thought must also be given to service standards.

Hamptons joins KRS equity release mortgage club

Hamptons Mortgages has signed up to Key Retirement Solutions’ equity release mortgage club, Lifetime Advisory Services. Following in the footsteps of Chase de Vere, which was LAS’ first subscriber, Hamptons’ qualified advisers will have access to training, integrated fact-finds and suitability reports, a research platform and end-to-end case tracking. Kevin Duffy, managing director of Hamptons […]

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

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