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Lancashire Mortgage Corporation launches auction product

Lancashire Mortgage Corporation has launched a new pre-approved auction purchase product.

It includes an auction purchase valuation bypass meaning no valuation is needed for properties less than £150,000.

Gary Bailey, director at Lancashire Mortgage Corporation, says: “In response to broker feedback, we’ve revised commercial term loan and bridging finance plans to simplify selection and provide greater guidance for acceptability.

“In addition, Lancashire Mortgage Corporation has taken this opportunity to launch new products that further extend the portfolio of broker’s offerings. The ‘Pre-approved Auction Purchase’ plan provides the broker with a pre-agreed level of funding against a particular property for their customer, this allows the customer bid with confidence at the auction knowing that the funding is in place on the pre-agreed terms.”


Abbey revamps its website to make navigation easier

Abbey for Intermediaries has relaunched its website today with a different layout and design. It says the changes make the website easier to navigate and reduce the number of click-throughs that are required. Miguel Sard, managing director of Abbey, says: “The latest enhancements to our website are designed to support intermediaries by making it quicker […]

Swift’s unfair client fees result in a £630,000 fine

The Financial Services Authority has slapped a £630,000 fine on Swift 1st after discovering the sub-prime lender has unfairly treated around 2,500 of its customers. The lender has also been ordered to redress customers, which could cost it around £2.35m. Mortgage Strategy revealed Swift was being investigated in December 2010, after its accounts showed that […]


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