Home of Choice has been hailed for designing a system that cuts out the need for advi- sers to key in multiple log-ons to access sourcing engines.Home of Choice’s system, called Ignition, enables brokers to log on once and simultaneously access Trigold for mortgages, Assureweb for life and critical illness and Paymentshield for general insurance. HoC says this eliminates the need for brokers to log on separately when fact-finding and sourcing products for their customers. The system retains a full audit trail of the sale and allows e-trading from initial client contact through to application. It also ensures prompt payment of commission. Commentators say any system which speeds up the processing of applications is positive for the market. The endorsement comes in a week when technology has dom- inated the headlines in the mortgage market, with GMAC now being able to give a point-of-sale offer. London & Country head of communications David Hollingworth says: “You cannot really argue with a system that makes things simple. One of the issues some brokers have is multiple log-ons which slows things down.” HoC senior compliance manager Kate Barling says: “It logs you on to all the websites and, if you follow the whole process through, you have a complete record of the sale without any paper documentation.”
Kleinwort Bension/ Dresdner Kleinwort
The Deva 80 Alpha Fund
Following Mark Harris’s column last week, further comment on high arrangement fees may be helpful. High percentage-based fees came to prominence 18 months ago when The Mortgage Works introduced a buy-to-let 4.99 per cent three-year fix with a 1.5 per cent fee to address the challenge of rental cover requirements at higher interest rates. This resulted in many more landlords being able to borrow 85 per cent than with a normal fee and a higher rate. This mortgage was so successful that many other BTL lenders followed suit and nowadays high percentage or high fixed fees are also common in the mainstream and self-cert markets.
Insight Investment is to float its property fund management arm on the Alternative Investment Market by the end of the month. The new company will be called Invista Real Estate Management. Parent com- pany HBOS, which is expected to retain a 55 per cent stake, says the deal will raise 100m which will be used […]
Standard Life is expected to join the FTSE 100 index in the next quarterly change this month. Resolution is also poised to enter the index after its merger with Britannic last year. Schroders is expected to fall out after recent outflows of institutional funds.
Using an investment wrapper set up by a life insurance company in a jurisdiction with a favourable tax regime, such as the Isle of Man or Dublin, opens up a wealth of planning opportunities. Investors benefit from growth that is largely free of tax as no tax is imposed on the income and gains in […]
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