Alliance & Leicester has become the latest name to confirm an interest in the intermediary secured loans market as part of a major push into the sector.The firm will aim to build its presence in the sector next year and it is expected advisers will play a big part in that offensive. A&L already offers secondcharge mortgages on a direct basis, albeit on a small scale. Morgan Stanley moved into the second-charge sector earlier this month after revealing it will fund Paragon’s sub-prime range under the Advantage brand while Kensington revealed in September it will enter the sector. A&L head of intermediary mortgages Mehrdad Yousefi says: “We have had a soft launch on secured loans but we will expand next year and are reviewing whether to use brokers as secured loans and specialist mortgage lending are the main driver for profit. We want to maximise intermediary distribution and lending in the secured loans market cannot overlook the intermediary market as it is the most powerful distributor of personal finance products.” Money Partners communications director Bob Sturges says: “The emergence of such brands ups the reputation of the market. Secured lending is booming.”
Lord Leitch is taking over as chairman of Bupa next month. Leitch, former chief executive of Zurich Financial Services, was already a director of the healthcare group and succeeds Bryan Sanderson.
St. James’s Place is offloading its mortgage-only appointed representatives and has offered them to Home of Choice.A total of 99 ARs have been told they will have to leave SJP, with HoC choice having first refusal, although they will be free to choose any network they want.SJP chief executive Mark Lund confirms that it is […]
Advisers say that the demolition of the former Allied Dunbar training centre in Swindon is the final nail in the coffin of the old style mass training of direct salesforces. But is its passing welcomed or mourned by the industry?
An investor seeks advice on the best way to invest in property
Holly Cassell, Assistant Manager of the Neptune UK Opportunities Fund The decision of the Federal Reserve not to raise US interest rates at its September meeting was met with surprise by many, and has been blamed by some as the chief catalyst for the global market volatility that followed. How does this affect the timing […]
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology