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Business boost for PMS

Premier Mortgage Service ach-ieved over £780m more business applications in January than it expected, totalling just under £4bn for the month.

Managing director Joh Malone says PMS was pleasantly surprised by the figures but February’s figures are likely to be lower due to the withdrawal of products and the cost of borrowing.

He says: “The purchase market is not good. It is down by 30 per cent from last year. We have got some big, big months coming up in terms of key tranches of two and five-year fixed rates coming up for review. We just have not got the diversity of products in the marketplace to satisfy the level of demand.”

PMS is set to reveal Malone’s successor in the coming weeks, with Malone to become chairman of the firm.

Former Accord managing director Linda Will has been tipped as one of the contenders for the job.


Market faces £625m proc fee shortfall, warns edeus

edeus is warning the current liquidity crisis could lead to £625m being wiped off the total procuration fee revenue for the UK mortgage market. Managing director Alan Cleary says there could be a 30 per cent deficit in the amount of finance available to borrowers in 2008, leading to a subsequent fall in payable proc […]

Commercial First stops new lending

Commercial First has stopped all new lending with immediate effect.In November 2007 Commercial First claims it completed the only public securitisation since the credit crisis began, but despite this has been forced to temporarily suspend new originations as existing facilities have been fully utilised and planned new arrangements have not materialised.Johnson says it has entered […]

Mortgages Plc to withdraw from BTL market

Mortgages plc has announced it is withdrawing from the prime buy to let market with immediate effect.The company will continue to process prime BTL applications until close on Wednesday 26th March, but will accept no new applications thereafter.Head of marketing Polly Hughes says: “We have seen both an increase in the number of new buy […]

Job cuts loom at Money Partners

Money Partners has confirmed it is to consult with staff on a move which could see up to 65 jobs cut.

The Natixis Solution: H2O MultiReturns Fund

A product designed to bring some unique attributes to the crowded absolute return global macro space With diversification and risk management top of investors’ wish lists when it comes to alternatives, step forward the H2O MultiReturns Fund. H2O Asset Management is an independent boutique backed by Natixis Global Asset Management and has a 14-year track […]


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