Mortgage Strategy articles

Recent articles from Mortgage Strategy

COMMENT: Building a mortgage monster.
July 6, 2009... The talk of the industry last week was the news that Sesame was in discussions to buy Bankhall, and what effect this might have on PMS and its renowned leader John Malone. The Mystic Megs of the industry have long predicted that mortgage distribution would contract - even before the...

FRAUD: Mounting fraud is adding to mortgage market instability.
July 6, 2009... Mortgage fraud topped #197m in the first six months of the year, with the Financial Services Authority warning that it is causing instability in the lending market. A damning report from accountancy firm BDO Stoy Hayward shows that 21 mortgage fraud cases in the first six months of the...

NETWORKS: Sesame acquisition deal in weeks.
July 6, 2009... Sesame plans to conclude its acquisition of Bankhall and PMS from Skandia UK within the next six to eight weeks. The proposed deal, which was announced last week, would produce a combined appointed representative network of around 3,000 advisers and a directly authorised business...

SALE-AND-RENT-BACK: Rent-back firms' decline sparks fears of cartel.
July 6, 2009... The National Landlords Association is concerned that the dwindling number of sale-and-rent-back landlords could produce cartel-like behaviour in the sector. Interim regulation for the sector came into effect on July 1. This means landlords and companies offering rent-back schemes have one...

STRAW POLL: Brokers say no thanks to RDR.
July 6, 2009... The majority of Mortgage Strategy Online readers last week voted no to the Retail Distribution Review being applied to mortgage brokers. Some 68% believe it would be a bad idea compared with 32% who think it would be fine. So, dysfunctional as the market may be at the moment, it seems...