London’s Olympia will play host to a new consumer mortgage show in October next year.
Organised by Clarion Events, which runs the Mortgage Business Expo trade shows, the consumer event will focus solely on home finance and will accommodate 150 exhibitors and up to 8,000 visitors.
Exchange enhances Exweb
The Exchange has enhanced Exweb, its new business service. Following user feedback the enhanced service will incorporate new and improved search facilities, more information on application status and an administrator facility allowing staff to search for quotes and applications.
David Child, managing director at The Exchange, commented: “The appetite among intermediaries for conducting new business electronically is growing and, by making the process on Exweb more efficient, intermediaries are able to increase their focus on advising on new business.”
Woolwich fixed rate sales rise
Research conducted by The Woolwich has revealed since June 2004 fixed rate mortgage sales within the company have risen by 47 per cent.
Reflecting the desire for homeowner stability, fixed rate mortgages now account for 60 per cent of the Woolwich’s new mortgage sales and this is expected to reach the 65 per cent mark before October 2005.
Scarborough reorganises intermediary approach
Scarborough Building Society has announced the appointment of Simon Evans as its first-ever relationship manager.
The appointment is part of Scarborough’s effort to improve its approach to the intermediary mortgage market and support the Society’s ‘partnership’ approach to broker business.
Trustguard service goes live
Trustguard Credit Services has completed the development of
its mortgage processing system i-MAPS.
i-MAPS is a result of market research conducted by Trustguard and aims to cut paperwork by automating time-consuming mortgage process tasks, including form customisation, documents and workflow streams. It will also provide a case-tracking facility for intermediaries and submission for mortgage and secured loan applications.
AIFA consults on membership scope
The Association of Independent Financial Advisers (AIFA) has launched a consultation programme to seek the views of its members on the scope of those it should allow into membership.
AIFA is taking this unusual step as a result of depolarisation. Before depolarisation, firms were either independent or tied, and AIFA only allowed firms into membership who were independent.
However, following the changes to the industry, many new types of firms have sprung up with some operating ‘hybrid’ business models where they have more than one strand to their business.
Brokers still saying no to 0870
Intermediaries are continuing to contact Mortgage Introducer with plans to turn the tables on lenders insisting on using premium rate phone numbers.
Lenders have come under fire for switching to 0870 phone numbers for intermediary enquiries and many brokers have suggested ways of bypassing the numbers or simply getting revenge.
Mark Kelly, managing director of World Mortgages and Consultancy Ltd, recommended using a specialist website to avoid phoning 0870 numbers. He said: “I use saynoto0870.com, which you can search by company name to find non-0870 numbers.”
James Hibbert, principal of Exe Valley Financial Services, has suggested contacting a company that provides 0870 numbers for a small fee, which his firm is considering. He said: “Alternate Media Ltd supplies 0870 numbers for around £10 which can be diverted to any number. When you are on hold to an 0870 number it can cost a fortune so installing an 0870 could help offset the cost.”
Pink launches self-cert deal with Mortgage Express
Pink Home Loans has teamed up with Mortgage Express to launch a self-
certified three-year fixed rate. The product is exclusive to Pink and has a rate of 4.99 per cent with no overhanging early repayment charges.
Dev Malle, associate sales director at Pink, commented: “In recent months self-certified products have not received as much coverage as buy-to-let, prime and adverse deals but are an important part of the mortgage market and this product provides great benefits for the consumer and intermediary.”
