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Clydesdale&#39s link with Charcol pays off

Charcol is piloting Clydesdale Bank&#39s re-entry into the intermediary market and is hailing the partnership as a success.

Two fixed-rate remortgage deals were offered in April at 4.49 per cent and 4.69 per cent and these have now been replaced with rates of 4.89 per cent and 4.99 per cent.

Charcol technical director Ray Boulger says the lender opted for a quiet launch rather than being faced with a demand it could not cope with.

Clydesdale spokesman Gareth Johnson says the products have had a good response and it would be looking at other opportunities based on its experience with Charcol. He says discussions are under way with other brokers.

Hamptons International broker Jonathan Cornell says it makes sense for Clydesdale to enter the intermediary market to broaden its delivery. He says that by using ex-Woolwich staff, the bank has a team of people who understand the broker market.

Cornell says: “It is difficult for smaller building societies or banks to enter the intermediary market so what they have done is very smart. It is good to see more lenders come in as it is good for competition and for customers.”


Loan spirit in the Big Brother house

The Diary has been watching Big Brother 5 with even less interest than usual after discovering that housemate Michelle Bass is a mortgage adviser. The 23-year-old Geordie apparently dismissed careers as a Tesco cashier and make-up artist before settling for a life in financial services. The MM team have used Michelle&#39s presence in the house […]

MGM in free membership deal on loans

MGM Assurance is offering free network membership to brokers who can complete seven mortgages per month. If an agent sells fewer than seven mortgages in a month then a nominal fee of £50 is charged and trainee advisors are charged a fee of £100 per month.

IFP bids to win better PI deal for members

The Institute of Financial Planning is trying to get a better deal for its members on professional indemnity insurance. Chief executive Nick Cann believes his members, who are all certified financial planners, are lower-risk than other IFA businesses as they have good audit trails, are mainly fee-based, which is broadly perceived as being a more […]

Sayers to head FSSC

The Financial Services Skills Council has promoted Teresa Sayers to the post of chief executive. Sayers steps up from managing director, a role she has held since November after spells as the FSSC&#39s director of research and development and acting chief executive. As MD, she was instrumental in developing the FSSC&#39s bid for a licence […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


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