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Legal contracts from lenders are too late says Genesis

Genesis business development director Nigel Gardner says legal contracts from lenders are only now arriving on his desk to be signed.

Lenders have been revising packaging agreements but seem to have left it too late according to Gardner.

Lenders have been asking for the contracts to be signed and sent back by November 1. But Gardner says he has been receiving contracts as late as last week and one even arrived on Friday October 29.

Gardner says: “There is no way they are going to get these back for Monday. They have been informed of this.”

Gardner also says AR numbers have not arrived from the FSA. Gardner says: “This is an industry-wide problem that is out of our control.”


One-sixth of children give money to parents

Sixteen per cent of children help their parents with money, according to research carried out by Mori for Norwich Union. Twenty per cent of children said they regularly advise their parents on financial matters and 11 per cent help their parents by paying bills. Eighteen per cent of under35s give their parents financial assistance compared […]

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UNIVERSAL BUILDING SOCIETY Two Year Discount Type: Discounted-rate mortgage Discounted term: Two years Discount: 2% Payable rate: 4.79% Minimum loan: £20,000 Maximum loan: Up to 95% of valuation subject to a maximum of £150,000, up to 90% of valuation subject to a maximum of £200,000, up to 85% of valuation subject to a maximum of […]

Accord changes criteria post regulation

Accord Mortagges wil no longer seek proof of income for cases where the LTV is 75 per cent or less, under£500,000 and where the broker has given the client advice. A series of sense checks will still apply when the case is submitted and random sampling will take place where Accord will approach the employer […]

Tax changes hit Isas with first net outflow

Isa sales slumped in Sept-ember to show a net outflow for the first time since their introduction in 1999, according to IMA figures. A net Isa outflow of £23.5m followed the lowest recorded inflow of £25m in August. Isas saw a net inflow of £259.5m in September last year. Gross sales fell from £442m in […]


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