View more on these topics

Mortgage Advice Bureau link-up for sub-prime

The Mortgage Advice Bureau has set up a partnership with Direct Financial Services to offer loans to borrowers who are unable to get mortgages on the high street.

The broker will be offering the service from 11 specialist sub-prime firms.

One in four people are turned down by mainstream mortgage lenders. These applications do not necessarily fall into the category of people with CCJs or previous repossessions. Applicants who have low credit scores often have not held a bank account for a sufficiently long amount of time or are self-employed.

Direct Financial Services sales director Alex Knaggs says: “A large proportion of potential borrowers find it hard to borrow on the high street and we are helping to fill the gap.”

MAB chief executive Peter Brodnicki says: “We feel it is essential from a customer service perspective to offer a top-quality range of sub-prime mortgages. Direct Financial Services will enable us to offer a first class range of competitive products to our increasing number of non-conforming clients.”

Mortgage Force managing director Rob Clifford sys: “There is a significant market opportunity. However, the danger we would see is that some clients could end up with a much higher rate than on the high street. The regulatory bodies should have some interest in this and they need to demonstrate the appropriateness of this type of loan.”


Newcastle PALs up for Sipp as A-Day boosts interest

Pension administration firm Pensions Associates Limited is offering a new self-invested personal pension in a partnership with Newcastle Building Society. PAL says its Sipp is expected to receive Inland Revenue approval within the next three weeks and is targeting the product at an increased interest in self-run pensions in the run-up to A-Day and after. […]

Standard Life offers inflation-proofed fund

Standard Life Investment&#39s global index-linked bond fund aims to provide income by investing mainly in government and corporate inflation-linked bonds. Although the fund may provide capital growth, this is not its main priority. The fund is an addition to Standard Life Investments&#39 range of lower-risk funds and it will have at least 15 holdings to […]

Canada Life Annuities Roadshow

Canada Life is embarking on a roadshow, focussing on annuities., in partnership with Fidelity Investments. The Canada Life Retirement Income Roadshow will address issues on its annuity growth account. The speakers will include Fidelity Life&#39s Peter Duke and several Canada Life retirement income specialists. The IFA roadshows will take place around London and greater London […]

Defaqto launches new manager of managers&#39 table

Defaqto, the independent financial data research company, has launched a manager of managers&#39 table on its Aequos database to help advisers select appropriate funds using a combination of data and opinion. The information is for advisers to select the most appropriate fund and manager for their clients&#39 needs. It will also help to demonstrate the […]

Phone - thumbnail

Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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 advice.

    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