New equity release referral service unveiled

Home & Capital Advisers is offering a referral service to brokers who may not have the expertise to advise on equity release products themselves. This partnership arrangement enables them to assist their customers and generate valuable fee income by referring the opportunity to Home & Capital Advisers.
Nigel HareScott, managing director of Home & Capital Advisers, [...]

First Direct cuts fixed rates

first direct is reducing the cost of its two-year fixed rate mortgages from today.
The new rates are a two-year fixed rate at 5.59% (6.3% APR); £499 booking fee and £999 arrangement fee. (Previous pricing: 5.76%; £499 booking fee and £1,499 arrangement fee.)
There is a low fee version of a two-year fixed rate at 5.89% (6.2% [...]

Pink Home Loans are set to diversify

Pink Home Loans is planning to expand its panel to explore other income opportunities for its intermediary customers. The company is currently looking to add bridging loans, equity release and home reversion plans to expand further its proposition over the coming months.
Neil Hoare, associate director, marketing and IT, said: “Pink is very much aware that [...]

New bridging manager at United Trust Bank

United Trust Bank has expanded its property finance team by appointing Hannah Robertson as a bridging sales manager.
She has been brought on board especially to enhance the Bank’s bridging loan business.
Robertson has held senior development roles at bridging lenders European Collateral Finance and Affirmative Finance.
Managing director of United Trust Bank, Roger Tidyman, said: “Hannah has [...]

Nationwide figures don’t tell whole story, says NAEA

The National Association of Estate Agents says Nationwide’s house price index does not portray regional variations.
Peter Bolton King, chief executive of the NAEA, says falling house prices are not being seen across the UK and some areas are showing signs of stability.
Bolton King says: “The national sales figures do not tell the whole story. We [...]

Paradigm gives members HSBLite access

Paradigm Mortgage Services is to offer all members access to the new Home Buyer System Lite (HBSLite) sourcing system.
The HBSLite system has been launched as a slimmed down version of the full Home Buyer System. It allows advisers to source not just all intermediary mortgages but also direct to lender products.
The system also delivers full [...]

Compliance guru Warren launches consultancy

Industry compliance veteran Bill Warren, has launched a new consultancy firm providing compliance support for financial services firms to ensure they meet the necessary regulatory standards.
Bill Warren Compliance LLP has been established to provide personal compliance advice to firms providing a full compliance health check and providing recommendations to ensure compliance standards are met by [...]

London Scottish Bank gets credit facility for debt purchase business

London Scottish Bank’s subsidiary Robinson Way has entered into an agreement for a new medium term revolving credit facility.
The facility is for an amount of up to £85 million and will be used principally to support the growth of Robinson Way’s debt purchase business.
The agreement is the first major step in LSB’s plan to recapitalise [...]

Ex-CBI chief to be new FSA chairman

Lord Adair Turner has been appointed by the Chancellor as chairman of the FSA for a five-year period. He will take up his appointment in September when the current incumbent, Sir Callum McCarthy, steps down.
Jonathan Adair Turner, Baron Turner of Ecchinswell, currently is chairman to the Economic and Social Research Council. He is also currently [...]

IFA complaints fall as bank cases soar

Complaints to the Financial Ombudsman Service about IFAs have plummeted from 12 per cent of total cases in 2006/07 to just 4 per cent in 2007/08 while bank complaints rocketed.
The FOS annual review says this is linked to a sharp decrease in complaints about mortgage endowments, which fell by 70 per cent from 46,134 to [...]