View more on these topics

Alliance of Mortgage Packagers and Distributors shuts down

The Alliance of Mortgage Packagers and Distributors has decided to stop its operations due to the slump in the mortgage market.

AMPD was established in 2006 as a collective group of specialist packagers and distributors. It claims to have completed more than £8bn in mortgage completions since its inception.

Director Liza Campion says: “This is not a decision that has been taken lightly but with the liquidity issues many lenders have suffered over the last few years there is still a continued lack of appetite to lend. Couple this with lenders constantly trimming financial support due to the economic climate. We really are left with no option.”

She adds AMPD’s business model does not suit a smaller market but she says there is still a future for packaging.

She says: “I genuinely believe specialist packaging and distributing does add real value to lenders so there is a future for it. Unfortunately, the AMPD model works on a ‘mass market’ basis and is just not right for a smaller industry.”

Recommended

6

FSA delays cap ad requirements by two years

The FSA has deferred the introduction of new capital rules for personal investment firms for two years to allow firms more time to prepare. The rules mean all IFAs will have to hold capital worth at least three months of their annual fixed expenditure, with a minimum of £20,000. Firms were required to hold a […]

Out of context

“If the FSA platform paper comes out late this afternoon, my copy will very quickly have beer stains all over it.”Transact managing director Ian Taylor contemplates using a new type of beer mat. “I’m not going to run round the neighborhood naked trying to get people to come into the office.”Barretts Financial Solutions senior partner […]

2

Should the word guaranteed be banned for structured investments?

Structured investments specialist Chris Taylor has called for the structured investment industry to stop using the word “guaranteed” in its marketing material. Taylor, who recently set up a specialist consultancy practice The Investment Bridge, says the industry has an opportunity to “exceed the regulator’s expectations through highlighting and suggesting better practices that the industry could […]

Clydesdale Bank adds three-year fixes to range

Clydesdale Bank has launched a range of three-year fixed rate mortgages starting from 3.19 per cent. The range includes a 70 per cent loan-to-value product at 3.19 per cent, a 75 per cent LTV product at 3.59 per cent, an 80 per cent LTV at 4.29 per cent and an 85 per cent LTV product […]

Responsibility Matters

The latest update from the Sustainable Investments Team at Royal London Asset Management, Responsibility Matters, is now available. In this edition the team look at issues such as the growing acceptance of sustainable investing and technology in China. Read the update here: The value of investments and the income from them is not guaranteed and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment