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Loans to Newcastle

Newcastle Building Society is to carry out mortgage processing, packaging and underwriting duties for High Street Home Loans.

The deal has already resulted in four new recruits for Newcastle, and the company expects this number to rise.

General manager Colin Greaves anticipates that the new partnership will process up to £150 million of mortgage balances.

Newcastle recently also formed an alliance with specialist lender Solent Mortgage Services, giving its branch network access to SMS’s range of loans for clients falling outside its own lending criteria.


Davy says PI capacity is growing

Simply Biz founder Ken Davy has moved to assure firms looking to signup with the IFA support services provider that it will be able tooffer them professional indemnity cover.In a letter sent to 240 prospective members, Davy, who also foundedDBS, reassures them “that more capacity is returning to the PImarket” and he is confident that […]

Raymond James targets IFAs with stock selection division

Raymond James Investment Services is offering an asset managementdivision allowing generalist IFAs to outsource their stock selectionand asset allocation res-ponsibilities on a white-label basis.In a move that the US giant believes is unique in the UK, RJIS isoffering to take on IFAs&#39 investment management duties as soon asthey have pooled their clients&#39 assets and completed […]

IFAs &#39struggling to stay afloat&#39 in tide of legislation

Employment law firm Peninsula is warning that changes in workplacelegislation could cause difficulties for financial advisers alreadyoverloaded with administration.Recent legislation includes changes to maternity and paternitypractices and those for families adopting children.The law firm says Trade and Industry Secretary Patricia Hewitt&#39splans to cut red tape surrounding advisers&#39 financial records havealso failed to instil confidence in […]

Depolarisation will lead to narrow panels says E&Y conference

Polarisation will lead to IFAs moving to narrow panels offering consumers a restricted choice according to a survey of delegates at the Ernst & Young Financial services Summit in Edinburgh today. A poll of delegates shows 74 per cent believe depolarisation will lead to major IFAs offering a narrow product range, while 26 per cent […]


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