View more on these topics

Chase de Vere and igroup link up for non-status push

Chase de Vere Mortgage Management has shocked the industry by launching

into the non-status market with igroup.

While igroup is declaring the joint launch of the product in two weeks as

a “ringing endorsement” for itself and the non-status sector, Chase is

distancing itself from the move.

igroup previously traded as Ocwen UK, which attracted criticism for high

mortgage rates and redemption penalties.

Chase de Vere Mortgage Management managing director Simon Tyler says: “We

have designed something which is an adjustment to one of their existing

products but our own position will remain the same.”

The product is designed for the upper end of the non-status market.

Minimum loan is £150,000 with no upper limit and the product has a rate of

1.95 per cent over Barclays&#39 standard rate.

Following its rebranding as igroup, the company is working hard to improve

its image and is hoping the partnership with Chase will boost its plan.

News of the relationship has surprised the industry.

Future Mortgages marketing director Michael Bolton says: “I am surprised

that, given the position of Chase de Vere in the upper end of the

market, it has joined up with Ocwen.”

Mortgage consultancy Market Audit Research director Chris Scales says: “It

is quite significant that they want to deepen the brand in this way and

appeal to the part of the market which is more unusual than the upmarket

and conventional lending requests it deals with.”

Recommended

MCCB to probe big IFA firms&#39 mortgage sites

Investment manager Greig Middleton sponsored the Ladies Open ChampionshipHunter Chase Final at Uttoxeter last week. Director Stephen Clark says:“Point-to-point meetings offer tremendous entertainment in an informalsetting and reinforces our name in the private client and corporate financemarkets.”The Mortgage Code Compliance Board is planning to meet big IFA firms tocheck their websites and mortgage-sourcing software contain […]

Yorkshire three-year stepped-rate bond offers up to 8% return

Yorkshire Building Society is offering a stepped-rate bond with aninterest rate that can reach 8 per cent.The rates are graduated over the three-year life of the product. In thefirst year, the annual rate is 6.25 per cent, 7 per cent in the second yearand a maximum of 8 per cent in the third year.Investors can […]

SPI and Aberdeen offer tech bond

Scottish Provident International and Aberdeen Asset Management are teamingup to offer a technology bond.SPI says the bond provides a tax-efficient means of accessing Aberdeen&#39stechnology investing expertise.The bond starts next month and minimum investment is £10,000.The initial fee is 6 per cent, with a fund-based annual management fee of1.98 per cent of the investment fund.The bond […]

IFAs grow their critical mass

IFA sales of critical-illness cover leapt by 22 per cent last year.The number of policies sold by IFAs rose from 220,730 in 1998 to 270,440in 1999, according to the HealthWatch 2000 report from Swiss Re Life &Health.This gave IFAs a 34.5 per cent share of the market – up from 31.8 per centin 1998 – […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment