View more on these topics

Bolton staying with BM Solutions

BM Solutions director of mortgages Michael Bolton confirms he is not leaving the lender after speculation he would be taking a post with Countrywide Financial.

Bolton believes American financial services provider Countrywide Financial had been approaching several figures in the mortgage industry but he would not confirm whether he had been approached.

Countrywide Financial is understood to have been looking at breaking into the UK mortgage lending market.

Countrywide Financial is believed to have now postponed any launch into the UK.

Bolton says as the US market has tightened, he believes the firm decided it was not the right time to step into the UK.

San Francisco-based Countrywide Financial owns the valuation arm of Global Home Loans, the UK mortgage processing and loan servicing provider.

Bolton says: “It is flattering to have been associated with Countrywide Financial. However, it is merely a reflection of the outstanding performance of BM over the last three years, resulting in it being one of the biggest lenders in the UK.”

Premier Mortgage Services managing director John Malone says: “There is a fair amount of speculation as to why Countrywide pulled out of the UK. Was it regulatory burdens, the market, the competition?”


Equitable •E&Y to go to court

Auditor Ernst & Young says its legal battle against Equitable Life will go to court after reports that there might be an out-of-court settlement.

Network Edge: John Hayden

Choosing the right network first time will prove the most cost-effective choice in the long term. Stick with well-established ones and be wary of fringe operators who come into the market without the resources to carry on.


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