View more on these topics

Money Partners suspends lending

Packagers mourned the loss of another lender last week as Money Partners slammed the brakes on new lending.

The lender says it has withdrawn its products due to low demand. Packagers claim its mortgages were priced so high that it was already effectively out of the market.

One source at the lender stresses that the move is temporary.

They add: “We have not closed for business – this is merely a suspension of lending.”

Despite its high rates, the industry has taken Money Partners’ exit as a bad sign.

One packager, who asked not to be named, says: “It’s rates were high and criteria stringent but to see it stop lending is soul-destroying.”

Money Partners will continue to process applications and issue mortgage offers until 20 February.

Former chief executive Colin Sanders resigned last December along with directors Philip George and Daniel Sparks.


Cool guy

With much of Britain brought to a standstill by what was widely described as “the worst weather for 20 years” – otherwise known as a couple of inches of snow and a chilly wind – Mole hears there was a North-South divide in how professionals coped.

Xit2 launches arrears management portal

Xit2, the property and mortgage outsourcing specialist, is launching an arrears management product. The Xit2 Arrears Management Portal helps mortgage lenders and debt counsellors carry out detailed and verified assessments of borrowers’ current financial situations. Lenders can also manage panels of counsellors using edge online software.The web-based platform will help lenders give borrowers support and […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


News and expert analysis straight to your inbox

Sign up