View more on these topics

Former chief execs back with internet

Some of the biggest names in Scottish financial services, including former Scottish Widows chief executive Mike Ross, are backing a new online mortgage venture.

The founding directors of Mform also include former Scottish Widows finance director and Scottish Widows Investment Partnership chief executive Bill Main, former Britannic Group and Britannic Asset Management chief executive Danny O’Neil and former Prudential intermediary sales director and Britannic Asset Management sales and marketing director Francis Ghiloni.

Mform, which has significant financial backing from fund manager Artemis, will be headed by chief executive Eamonn Rice, who is a former partner at Ernst & Young, and marketing and business development director Ghiloni.

The new venture aims to feature direct links between borrowers and lenders. Consumers will be able to compare mortgages online and make an application without a broker’s involvement or can be passed on to broker London & Country.

Mform says the online mortgage business is the fastest growing sector of the retail financial services market and wants to follow the success that execution-only businesses have seen in the investment and insurance markets.

It says over half of consumers conduct mortgage product research online. It will offer whole-of-market product information provided by Moneyfacts. It expects to receive around 2,000 mortgage applications a month, with a target of 24,000 in 2007.

Mform is based in Edinburgh with around 15 staff.

Rice says: “The online mortgage market is one of the most attractive in retail financial services and we believe that there is a gap in the market for an organisation to provide a comprehensive and truly independent service to people looking for a homeloan.”


Court tells Woolwich to pay £2,000 in damages to IFA

A court has awarded an IFA over £2,000 in damages in a dispute with Woolwich.Strategic Financial Solutions joint managing director Henri Berest claimed Woolwich sent plans for a newbuild property to a borrower’s old address and failed to make copies of the plans, which led to subsequent service issues.Barnet county court ordered Woolwich to pay […]

PPF rejects Aon levy attack

The Pension Protection Fund has rejected criticism that changes to the way it sets its levies will wreak havoc with firms’ budgeting processes.Aon Consulting says the PPF is considering setting the 2007/08 scaling factor on March 30, 2007 rather than the several months’ notice given ahead of the 2007/08 deadline on March 31, 2006.It says […]

FSA fines mortgage broker for cold calling and PPI failings

The Financial Services Authority has fined broker Capital Mortgage Connections £17,500 for rule breaches including cold calling potential customers. This is the first time it has taken action against a firm for cold calling, after the FSA investigation found that 85 per cent of its business was generated by cold calling potential customers. The fine […]

More people insure mobile phone than have critical cover

Only 11 per cent of people think mortgage payments are one of the most important things to insure.Bright Grey conducted a survey of 2,000 people and found that 40 per cent think life cover is the most important protection and 23 per cent believe home contents are the priority.But when asked what they do insure, […]

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.


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 thought leadership.

    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