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C&G puts focus on 100% loans

Cheltenham & Gloucester is set to focus on developing its 100 per cent and buy-to-let propositions after announcing last week that it will be moving broker support to a centralised location.

The firm is also axing 31 of its 195 branches in November, affecting 315 staff.

The structural changes also mean that C&G is cutting its business development man-ager numbers by 17 but increasing its corporate account team from two to six managers.

It is moving its mortgage processing systems to Gloucester next month and will introduce a phone operation to support its online trading platform Caseflow.

Head of corporate and specialist intermediary sales Mark Blackwell says: “When you look at the developments of online technology and regulation, you understand that models have to change and adapt.”

C&G will introduce new BTL products later this year.


Broker talkback

Are you considering selling your business to avoid the impact of the RDR?No 100%No “We are not quite sure which way we are going yet but we will not be selling up although I think there will be plenty of people who will.”Michael Brill, Baronworth Investment Services No “We are in it for the long […]

In the out door

It was interesting to note the varied response by lenders in answer to the FSA’s requirement for them to have reviewed the fairness of their exit fees by July 31.Cheltenham & Gloucester led the way in abandoning this much criticised practice and was soon followed by lenders such as Northern Rock, Standard Life and the […]

Skandia challenges firms on net figures

Skandia is calling on other life companies to publish their net sales figures, saying they are the key measure of the success of a product provider.The firm’s interim results show a small rise in net cash inflows to £2.4bn for the first half compared with £2.3bn in the first half of 2006.Skandia believes too many […]


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