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Brain wave for Ireland

A consortium of lenders led by Bank of Ireland is considering replicating

the industry-owned Mortgage Brain common trading platform in Ireland.

A Dublin e-commerce consultancy working for a number of Irish companies

has recently had a demonstration of Mortgage Brain technology and is

understood to have lined up meetings with owners Nationwide, Halifax and

Alliance & Leicester.

It is looking to see how the UK model has performed since the three rivals

clubbed together to buy a combined 51 per cent stake in the platform in

May. Several other lenders, including Woolwich, Britannia and Cheltenham &

Glouc-ester, are understood to be on the brink of buying the remaining

equity stakes.

Details have yet to emerge about how the platform would transfer but one

option is for Irish providers to take out a licence from Mortgage Brain,

enabling them to sell equity to other lenders, as is the case with the

existing model.

Mortgage Brain director Mike Green says: “We had an enquiry from the

consultancy and provided them with a full demonstration. We are delighted

that providers from another country may implement our proposition and look

forward to taking it further.”


Sir Brian Stewart to chair Standard Life

Scottish & Newcastle chairman Sir Brian Stewart is to become the new chairman of mutual life office Standard Life.Stewart, 55, will replace the current chairman John Trott who is expected to announce his retirement at Standard&#39s annual meeting next April.Known as a strong defender of mutuality, Stewart is expected to resist any further attempts to […]

Put Equitable out of its misery

For heaven&#39s sake, why doesn&#39t the powers that be stop pussyfootingaround and declare Equitable Life insolvent? According to a report in Money Marketing, the appointed actuary reportedthat as at December 31, 2000 “total policy values were in excess of theavailable with-profits assets” or, in plain English, liabilities exceededassets. The definition of insolvency. When someone of […]

Thinktank warning of pension advice vacuum

The Government has come under fire from a left-wing thinktank in a damning rep- ort which criticises stakeholder for creating an advice vacuum. The Institute of Public Policy Research, which has influenced much ofLabour policy over the last four years,has issued an interim report on its ongoing project, A New Contract for Retirement, in which […]

Dresdner RCM appoints regional sales manager

Dresdner RCM Global Investors has appointed Craig Macindoe as its new regional sales manager for Scotland, Ireland and north of England.Prior to joining Dresdner, Macindoe was an IFA, and has also worked on the sales side for both Scottish Equitable and Scottish Provident.In his new role, he will report to Dresdner head of retail sales […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]


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