Natalie Thomas

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OFT to review MoneySupermarket.com’s acquisition of MoneySavingExpert

The Office of Fair Trading has revealed that it is looking into the proposed acquisition of MoneySavingExpert by price comparison site MoneySupermarket.com. The OFT is considering whether there will be any “substantial lessening of competition” as a result of the merger.
 
 Earlier this month, the price comparison site revealed that is was to acquire MoneySavingExpert […]

Platform reveals new management team

The Co-operative Bank head of mortgages James Hillon is to head Platform, the bank’s intermediary lender. Hillon will take on responsibility for Platform as part of his role as head of mortgages for the bank. Colin Welby will head Platform’s sales and distribution team as part of his role as head of partnerships for the […]

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Barclays settles fraud claim against Savills PF and others

Barclays Private Clients International and Barclays Bank have settled a high court claim in which they were seeking up to £12.7m in damages for an alleged mortgage fraud Barclays was suing mortgage brokerage Savills Private Finance and chartered surveyor Stocker & Roberts Partnership for losses from an alleged mortgage fraud. It was also suing solicitor […]

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Should the Government remove stamp duty for NewBuy?

The Council of Mortgage Lenders is urging the Government to rethink the way it calculates stamp duty and says there may be a case for removing it altogether for NewBuy transactions. In its latest issue of News & Views today, the CML says the Government is giving out mixed messages by still charging stamp duty […]

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CML says lenders should focus on service not sales

Council of Mortgage Lenders chairman Martijn Van der Heijden has told lenders they need to have less of a sales culture and more of a service culture. Speaking at the CML annual lunch in London today, Van der Heijden told attendees that before the credit crunch mortgage lending “sleepwalked” into a sales culture. He told […]

NatWest opens up its corporate range to DA mortgage clubs

NatWest Intermediary Solutions is broadening the choice of mortgages that directly authorised firms have access to by opening its corporate range to DA mortgage clubs. Intermediaries of DA firms will be able to submit applications for products in the corporate range through any mortgage club they choose. In March this year, NatWest Intermediary Solutions announced […]

David Tweedy leaves Platform

Platform director David Tweedy has left the lender after 13 years. Tweedy, who has been at Platform since it formed in 1999, was placed on secondment to another role within The Co-operative Banking Group in March. He is believed to have left when this secondment came to an end at the end of May – […]

Co-operative denies plans to scrap Platform

The Co-operative Bank has denied that it has any plans to close its intermediary lender Platform. Rumours are rife that the Platform brand could be scrapped by the end of the year but a spokesman for the bank says this is not the case. He says: “The Co-operative Bank remains absolutely committed to the intermediary […]

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Abbey to link proc fees to quality of business

Abbey for Intermediaries is making a number of changes to how it pays brokers’ proc fees on its core residential range. From July 2 the lender will now take into account quality of business when determining how much brokers are paid. It is believed that as a result, the proc fees payable to some key […]

Short term lender trade body appoints new chief executive

Former Cheval managing director Benson Hersch has been appointed as the new chief executive of the Association of Short Term Lenders. He will be attending the quarterly general meeting of members next Monday and intends to meet with a number of members in the following weeks. Hersch has been in the bridging industry for 14 […]

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Bridging lender linked with Connaught funds given cash injection

Tiuta, the bridging lender which had until recently been funded in part by Connaught Asset Management, says it has secured a seven-figure cash injection. The lender has not revealed the source of the funding or the amount, but it says this, along with an internal restructure of the business, will result in more stability. It […]

Euro MPs want to ban mortgages tied to other products

European MPs have voted to ban mortgages that are tied to other products such as savings accounts. Last week, the European monetary and economic affairs committee voted through a number of draft proposals on the European Commission’s directive. One of these stipulates that lenders will not be allowed to sell mortgage deals linked to savings […]