View more on these topics

First Active winning ‘very high market share’

First Active is surprising mortgage brokers with the amount of exposure and volumes it is taking in the market.

Mortgage Force managing director Rob Clifford says First Active appears to be more active in the market than its sister company at Royal Bank of Scotland, The One Account, by taking what he describes as “a very high and unnatural market share”.

First Active confirmed that it is outstripping The One Account on new business but it could not give exact figures.

Clifford says First Active’s success must be to some extent the result of other lenders’ failures. He suspects that First Active’s increased market share may have come from lenders’ problems since M-Day.

Abbey withdrew its flexible product range in the lead-up to mortgage regulation, reinstating them at the end of November.

Northern Rock has been struck by service problems since M-Day, with brokers complaining of problems with the lender’s online systems.

Clifford says: “I have no reason to bang their drum but there is extraordinarily good intermediary management at First Active. There is a consistent service and they pay sensible procuration fees.”

First Active head of national partnerships Louis Kaszczak says: “Part of our success is about the time that we launched. We were fortunate because First Active was set up with MCOB in mind. We promote ourselves fairly heavily and our proposition is clear to understand.”


Review of 2004: Mortgages

The base rate rises this summer started the slowdown in transaction levels but the industry is almost unanimous in saying that there will be no crash.

End of year edge: Mark Dampier

Despite gloomy forecasts, indices are up and investors who abandoned the market for buy to let missed out on the rally. But the next few years could be tougher going for Anthony Bolton, as the rerating in smaller companies could be largely over.

Weighting time

WEST LBPerformance SeekerType: Guaranteed equity bondAim: Growth linked to the performance of the FTSE 100, S&P 500 and Nikkei 225 indicesTerm: Six yearsReturn: 100% of the growth in the weighted basket of indices comprising 50% of the best-performing index,30% of the second-best-performing index and 20% of the worst-performing indexGuarantee: Original capital returned in full regardless […]

David Aaron Partnership declared in default by FSCS

The Financial Services Compensation Scheme has declared the David Aaron Partnership and David M Aaron (Personal Financial Planners) Limited in default, paving the way for consumers to receive compensation from the Scheme. Both of these firms traded, at different times, as The David Aaron Partnership.FSCS has written to claimants of The David Aaron Partnership to […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm