View more on these topics

B&B and Mortgageforce deal to place borrowers

Mortgageforce has revealed that Bradford & Bingley could be calling on them to place its existing borrowers when they reach the end of their deal.

The firm revealed that it has had a deal with B&B for the last year where any unplaceable potential borrowers were forwarded to them to get whole-of-market advice. It says there is no reason why this relationship cannot continue with existing borrowers.

The Chancellor this week said that it will be looking to wind down the mortgage books of B&B and Mortgage Express, using the assets from the sales to cover the debt incurred saving the lender.

Mortgageforce technical manager Katie Tucker says: “About a year ago we signed up to take care of any B&B customers who could not be placed with them. We have had all sorts of clients as a result and we would not be surprised if we were called on to deal with the current customers too.”

Northern Rock, the other nationalised lender, has a scheme to help borrowers off their books by forwarding them to a panel of brokers. The lender would not reveal the identity of the brokers but admitted that leaving Northern Rock buy-to-let borrowers may have been recommended Mortgage Express mortgages in the advice process.


Safety thirst

At the end of one of the most tumultuous weeks we have experienced in financial markets, the Financial Times’ Lex column stated on Friday September 19 that investors today are “more concerned about a return of capital than a return on capital”.

Warning that providers could turn backs on IP

Insurance providers will turn their back on income protection if advisers fail to improve their understanding of the product, warns Direct Life and Pensions key account man-ager Phil Jeynes.


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