During 2003, Coventry Building Society achieved record net lending levels of £863 million, up 27 per cent on 2002.
The Coventry has also achieved mortgage arrears of less than half the industry average and the lender maintains it has also improved its cost ratio for the eighth successive year.
FSA concludes review of property investment schemes
A Financial Services Authority (FSA) review of property investment schemes available to retail investors has concluded that these investments are still relatively marginal. The review also suggested that the product literature is reasonably clear and that specialist IFAs to a few wealthy clients sell most of the more risky products.
As a result, the FSA has concluded that no significant regulatory action is required.
Mortgage Choice announces pure packager status
Manchester-based packager, Mortgage Choice, plans to offer its packaging services to a number of networks and lenders, but will not seek Principal status.
The packager belongs to the PMPA and the MDC and intends to offer a range of support services for its 500 brokers, particularly those planning to take the directly authorised route.
