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DB says staff fallout ‘is to be accepted’

DB Mortgages managing director Bill Dudgeon admits he will struggle to keep all his staff happy at the start-up company.
His comments come after a senior source told Money Marketing that at least one high-profile figure at DB has approached his former employer at The Mortgage Business about returning to the HBOS-owned lender, amid rumours that other staff are also considering their futures at DB.

Former TMB directors Dudgeon, Mark Bergin, David Parry and Paul Graham left the business in September 2005 to join DB. Another 14 made the same move in March.
DB, which has nearly 120 staff, has come under the spotlight over the last few weeks after complaints from brokers of poor service.

Dudgeon says: “When people join a new company, you get a fallout so we will get people leaving us. That is part of starting up a new company. It is not the same as working for an established company and it is not everyone’s cup of tea. I am sure the four of us that made the initial move have made the right decision.”


Packagers give thumbs-up to instant offers

GMAC claims its point of sale system is proving popular with packagers. It says the technology means packagers can save time and resources by providing offers for brokers in a few minutes. GMAC says about 60 per cent of applications will receive instant offers, and this will increase over time.Packager Enterprise Groups Michael Clapper says: […]

Major players join forces to create first platform committee

Cofunds, Fidelity FundsNetwork, Skandia, Selestia and Standard Life have joined forces to form the UK’s first representative Platform Committee.The committee has been created to develop industry-wide standards for consumer, advisers and fund providers and will involve input from the Investment Management Association.The Platform Committee will represent the sector and review and improve industry processes and […]

Base rate held at 4.75 per cent

The Bank of England has held the base rate at 4.75 per cent, following last month’s 0.25 per cent increase. Alliance & Leicester head of intermediary mortgages Mehrdad Yousefi says: “Following last month’s rise in the – which took some commentators by surprise – a further rise in September was not anticipated. “The decision to […]

This week in Mortgages

The big news of the week has undoubtedly been GMAC’s announcement that it is the first lender to offer point of sale offer to customers.


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