View more on these topics

Halifax contacts clients direct to arrange transfers

From Jason Simpson

Much has been made of Halifax’s payment of proc fees for product transfers. But what has not been publicised is that it now has a call centre which contacts clients directly to arrange product transfers.

I recently got an email from my Halifax BDM regarding clients with Halifax mortgage rates finishing on January 31 2007. It reads: “If any of your clients have a mortgage product finishing on that day they will now be contacted by our call centre and a product transfer carried out. For you to retain your client and receive a full proc fee remember to key a KFI and then convert it. If you convert the KFI, this will stop the call centre phoning your client.”

The broker market is based on the understanding that clients are first and foremost our clients. We must remind the Halifax of this and ensure it stops immediately. I have anecdotal reports from clients that Halifax is already contacting them regarding Halifax Insurance products, despite assurances from Halifax Intermediaries that it does not.

Am I mistaken in thinking that the Halifax’s response to increased competition from other lenders is to poach our clients?

Jason Simpson
Mortgage consultant
Homes 2 Own


Analyst tips Euro commercial property as “money-spinner”

European commercial properties may be a bigger money-spinner than UK alternatives, predicts fund manager and commercial property analyst Seven Dials.As commentators downgrade investment returns from the over-ripe UK market, Seven Dials says the Euro-factors will underpin this fast growing asset class.Seven Dials is particularly warm on the Nordic region and the Netherlands, where it anticipates […]

AMI concerned by FSA mortgage advice findings

&CThe Association of Mortgage Intermediaries says it’s concerned by the Financial Services Authority’s findings on the quality of intermediaries’ mortgage advice.While the FSA gave larger networks and brokerages a thumbs up, describing them as having “robust” processes in place, smaller firms were found to have work to do to improve their advice and record keeping […]

Rightmove’s revenue up 85%

Rightmoves trading update for 2006 reveals that revenue for the full year is expected to hit about 33.6m, an 85% increase from 2005. Profit before tax on an adjusted basis is expected to be slightly above the range of analysts’ estimates of 17.0m to 17.4m, primarily as a result of stronger sales.By the end of […]

BoE serious about keeping inflation low, says Lloyds TSB

The Bank of Englands decision to raise rates in January is a sign that it is serious about keeping inflation low, says Lloyds TSB. Trevor Williams, chief economist of Lloyds TSB corporate markets, says: The timing of the rise is a surprise but the decision isnt. Many forecasters were expecting a move in February so […]


News and expert analysis straight to your inbox

Sign up