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Mortgages plc boosts staff by 33%

Mortgages plc says it has had to increase staff numbers by a third to cope with increased business volumes.

The firm has taken on more than 50 new staff since January and is now placed to handle anticipated further growth. The lender says it is on course to complete total non-confirming lending volumes by excess of 1.5bn this year.

The firm, which is a subsidiary of Merrill Lynch, says its new applications and re-submissions are now underwritten within 48 hours of receipt and offers are produced and dispatched within 24 hours.

Its online proposition is about to go into a pilot scheme and the company claims product development, innovation and this new online offering will all play major roles in the coming months.

Mortgages plc sales and marketing director Peter Beaumont says: “Our business volumes have increased in a year where overall lending volumes are down. We are hitting targets today that we were not due to reach until 2007. This sort of growth has brought with it some challenges but we have significantly invested in our infrastructure to ensure that we can cope with our current and future volumes.”


ABI steps up indemnity commission debate

The ABI is commissioning further research into indem-nity commission, claiming the debate has not moved on following the recommendations made by Charles River Associates earlier this year. Deloitte has been brought in to devise possible alternatives for the commission structure after the ABI consultation launched alongside the CRA research. ABI life and pensions director Chris […]

Borrowers should have a choice on higher lending charges says TFC

TFC Homeloans believes borrowers should have the choice as to whether they pay higher lending charges or not when taking out a mortgage.TFC says these charges are being shunned by some brokers as they favour products which do not force borrowers to pay HLCs as an additional cost.TFC Homeloans head of products Simon Snape says: […]

MPC leaves rates on hold

The Bank of England’s monetary policy committee decides to leave rates on hold for this month.The Derbyshire head of intermediary support and development Tony Capon says: “Minutes from the 3-4 August meeting showed the bank’s nine-member MPC voted 5-4 in favour of the quarter-percentage-point cut. “Todays decision clearly shows a less certain approach to further […]

Gartmore recommends increased M&A

Gartmore is recommending more merger and acquisitional activity as a result of the FTSE 100 All-Share rising strongly since April.It has been driven upwards by a number of positive influences such as corporate earnings that have been better than many investors expected. With London oil prices rising to nearly 40 a barrel, Gartmore says the […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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