Personal Touch Insurance (PTI) is to supply Paymentshield general insurance products to its AR members also giving access to Paymentshield’s MPPI and household insurance. PTI will also be offered the Paymentshield Interia software. The products are available to directly authorised brokers who use PTI’s product proposition.
Kensington slashes loadings
As of 1 June Kensington Mortgages has cut loadings across its product range. With the Kensington variable rate standing at 5.65 per cent, repayment rates have been cut by up to 50 per cent on purchase and remortgage loans.
Remortgage loadings have been removed from very low and low adverse products. The lender has also extended its 2 per cent discount across the range.
RICS predicts gradual rate rises
May saw the third interest rate rise in seven months to 4.25 per cent, but the Royal Institute of Chartered Surveyors (RICS) predicted these would be the last rapid rises for some time.
Further increases will be gradual, said RICS, as price pressures ‘continue to be mitigated by the strong sterling exchange rate’.
TFC, Solent and Enterprise target Northern Ireland
The Finance Centre (TFC), Solent Mortgage Services, and Enterprise are to hold a ‘Meet the Lenders’ roadshow at the Stormont Hotel, Belfast on Thursday 10 June. Enterprise will explain its proposition for Zurich members in the afternoon. Lenders attending include TMB, Amber and Platform.
MAB goes Continental
Mortgage Advice Bureau (MAB) and Conti Financial Services have teamed up to launch a specialist overseas mortgage service.
MAB advisers will complete the factfind and when appropriate refer the applicant to Conti Financial Services. Advice can be provided on currency exchange risks, offsetting rental income and inheritance tax
AMI blasts Skills Council
The Association of Mortgage Intermediaries (AMI) has expressed disappointment that the Skills Council has not progressed further with plans to reform the mortgage advice industry’s qualifications. Chris Cummings, director of AMI, said: “It is important that clients can easily understand the qualifications intermediaries have. This could be jeopardised by pick-and-mix exams that do little to improve confidence.”
C&G and Lloyds TSB in offset partnership
Cheltenham & Gloucester (C&G) and Lloyds TSB have joined forces to provide an offset mortgage. It allows those holding a current account with Lloyds TSB to offset with C&G. The account holder can have savings accounts with either. There is also the option for family or friends to offset savings they have with Lloyds TSB or C&G against another person’s mortgage.
‘We want to buy property’ research reveals
CML research has revealed that 72 per cent of non-homeowners want to buy within the next two years, rising to 81 per cent keen to buy over the next ten years.
Other figures suggest that most young non-property buyers expect to buy for the first time in their mid-30s. Reasons given for this include lack of affordability, lifestyle choice and a short-term preference for renting.
The CML is researching low-cost home–ownership schemes and flexible tenure initiatives to offer solutions to the 11 per cent of the UK population who currently feel barred from the housing ladder.
Pink seeks out broker opinion
Pink is recruiting brokers keen to air their views for a new e-mail online survey.
The Pink 1000 Index will be surveying mortgage brokers on key industry issues on a monthly basis. Issues will include rate increases, house price inflation and regulation.
Information on registration will be released over the next few weeks.
Select & Protect announces cross-sale deal with Trigold
Trigold’s 14,000 Prospector Plus sourcing system users will shortly be offered access to household and MPPI insurance provider, Select & Protect’s products.
The link-up provides brokers with cross-sale opportunities, said joint managing director of Trigold, Bill Safran.
“The ability to conduct business offline as well as online will make writing cover with Select & Protect much less time consuming and more integrated with the mortgage sales process,” he said.
Savills welcomes CML call for buy-to-let research
Independent mortgage broker Savills Private Finance has welcomed the Council of Mortgage Lenders (CML) call for more in-depth research into the buy-to-let market. Simon Jones, director at Savills Private Finance, said: “It is encouraging. Until now there hasn’t been any really serious or weighty research into this key sector.”
More Freedom in Sweden
Financial services group Freedom Finance is to expand its Swedish operation as part of a wider European expansion programme over the next 18 months. The group’s Swedish workforce has doubled in six months. A web marketing campaign is to be augmented with teletext and radio adverts.
