From 1 March 2004, BM Solutions plans to reduce its procuration fees on all paper-based applications.
After the 29 February, the lower commission payments on paper applications fall to 35 basis points for buy-to-let and self-cert or 50 bps on sub-prime cases.
The online procuration fees for sub-prime loans start at 75 bps for light adverse rising to 150 bps for heavy adverse. Procuration fees for buy-to-let and self-cert stay the same at 50 bps.
C&G signs up to Mortgage Brain
The UK’s third largest lender, Cheltenham & Gloucester (C&G) has become Mortgage Brain’s latest lender partner to accept applications via the Mortgage Trading Exchange (MTE).
However, the electronic trading system is still only accepting a full online application service from two lenders: Alliance & Leicester and The Halifax, although more are expected soon.
BBB and Inter Alliance talk mergers
IFA Berkeley Berry Birch (BBB) and Inter Alliance are in discussions over a possible merger.
The stockmarket announcement said if the talks were successful, the two firms planned to trade under the BBB brand.
Inter Alliance has just revealed a partnership with insurance network CETA, which will provide insurance quotation software and products to its planned network membership.
Kensington Palace Gardens voted best London address
Kensington Palace Gardens was voted most desirable address after a poll of estate agent, Knight Frank’s London offices.
The ultra private street in Kensington W8 beat off contenders such as Eaton Square, Chester Square and Cadogan Square in Belgravia.
The tree-lined private road emerged top of the poll for its ultimate security, seclusion and rarity value.
