MGM Assurance is offering free network membership to brokers who can complete seven mortgages per month. If an agent sells fewer than seven mortgages in a month then a nominal fee of £50 is charged and trainee advisors are charged a fee of £100 per month.
In 1999, when we changed our name from Advance Mortgage Funding to Pink Home Loans, some in the mortgage industry referred to an expression used by my favourite tennis player John McEnroe: “You cannot be serious.” But we have always been serious at Pink. Having started life as a packager in 1990 and not being […]
For students of the European Union and its impact on financial services, there is much to keep them amused. One particular issue that we have been tracking is the EU savings directive. This is due to take effect from January 1, 2005 and will apply to all EU member states, certain dependent and associated territories […]
The surge in tickets for the Lotto due for a triple rollover shows that with an attractive prospect in view there is no shortage of available funds. This can be compared with investor psychology where human nature is always looking for the maximum return for the minimum outlay and, of course, there should be no […]
Royal Bank of Scotland's Irish subsidiary First Active is moving into the UK intermediary market with two mortgages. It is offering a two-year discount and a five-year stepped loan. The discount features a rate of 4.04 per cent until 2006, reverting to Bank of England base rate plus 0.69 per cent. The five-year stepped mortgage […]
Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief. Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place. And that got me to thinking […]
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]