The Derbyshire is launching a standalone sub-prime brand today. Industry sources say the society had a choice of three names – Pepper, Salt or Butter – and has decided on Salt.From near-prime to heavy sub-prime, products will be available through a limited number of packagers but the aim is ultimately to go direct through brokers. Three packagers – Abacus, Praxis and Pink Home Loans – are signed up with four to five others in the pipeline. An industry source says: “Sub-prime is a sector where you can maximise profits. A number of societies have a similar arrangement and I think this trend will continue.” Martin Reynolds, head of sales at BM Solutions, says: “Another week, another lender. This shows the market is still attractive and vibrant. Welcome to the fold.” There has been no comment from The Derbyshire.
- Top trends
Stroud and Swindon has withdrawn its fixed rate mortgage products with immediate effect, excluding its 4.99% two-year flexible fixed.All other products will remain unchanged.
From Steve Langrick I always enjoy the letters pages in Mortgage Strategy and last week’s offerings (October 31) were better than most. Particularly Deirdre McManus and her posse of BDMs waiting for our call. I registered on Bristol & West’s broker site in August and received an email to confirm my registration. Did I then […]
Network Data has launched a proposition for directly authorised brokers. It offers a range of benefits including access to exclusive mortgage and insurance products and free access to Network Data’s mortgageLink software which includes integrated access to the Mortgage Trading Exchange. Registration is free and also includes free software training courses and business development workshops, […]
Focus Business Solutions has formed a partnership with Dashboard Software to deliver a suite of mortgage technology solutions.
By Kunal Desai, Head of Indian Equities at Neptune Investment Management Following the MSCI India Index’s 26.4 per cent return in 2014, stemming from a 7.3 per cent rise in GDP, investors have recently become increasingly concerned about India’s future growth potential. What has happened to India’s reform agenda and are there any signs of […]
News and expert analysis straight to your inboxSign up