View more on these topics

A&L chief in warning over loan network sizes

Many mortgage networks are not portraying their membership sizes accurately, according to Alliance & Leicester head of intermediary mortgages Mehrdad Yousefi.

Yousefi says that with auth-orised representatives yet to make up their minds on whe-ther they will join a network or become directly authorised, there is a danger of networks not being able to validate their business models and recruitment numbers.

A&L has been speaking to several networks in the lead-up to M-Day. Yousefi says in a mortgage environment where a slowdown is being witnessed, the lending community is at further risk because of networks which are unable to survive if they have to amend their recruitment figures after October 31. He says this poses a risk for lenders and networks to prosper in a regulatory regime.

FSA figures show that up to September, 129 applications have been made to become networks and 79 have received MTA or VOP letters. Yousefi says: “All of these are talking about similar recruiting numbers. There has to be a shake-up somewhere along the line.”

First4Brokers mortgage network managing director Charles Gooding says: “I am sure some networks are not achieving their figures to date but this should not have been unexpected.”

Yousefi says: “The networks have recruitment aspirations but do they have a plan B to be able to survive? I do not think everyone has done their sums.”

Mortgage Brief, p59


Mortality gap on gender is slowly closing

Male mortality is continuing to improve more quickly than female, according to results from the Continuous Mortality Investigation Bureau. The series of reports on the mortality experience of assured lives, annuitants and pensioners shows that men and women are living longer but the mortality gap on gender is narrowing slowly. Male rates for the main […]

Mortgages Director appointed at the Derbyshire BS

Brian Carney has been appointed as a specialist mortgages director at Derbyshire Building Society. Carney will be responsible for developing the building society&#39s home loans, intermediary lending and registered social lending. He has come from HSBS where he was the head of commercial team lending and as the director of Forward Trust. Previous to that, […]

&#39Backache and depression losing 175 million working days a year&#39

Research from Unum Prov-ident shows that almost 175 million working days are lost each year because of the three most common ailments – backache, depression and fatigue. The firm says 21 per cent of people say they have taken time off due to these complaints in the last five years. Unum says this adds up […]

VCTs offer new hope for films

The development of venture capital trusts investing exclusively in films could go some way to filling the hole left by the Inland Revenue&#39s closure of film finance tax perks, says Allen- bridge Group. Allenbridge Group director of tax shelter res-earch David Knight bel- ieves that comments from Chancellor Gordon Brown that he does not want […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm