View more on these topics

Nikko sells Mortgages plc shareholding to Merrill Lynch

Nikko Principal Investments, the majority shareholder and management shareholder of Mortgages plc has sold its shareholding to Merrill Lynch.

Mortgages plc, the specialist non-conforming mortgage lender will retain its name and continue to operate as a wholly-owned subsidiary of Merrill Lynch. The terms of the deal were unavailable.

Nikko acquired a majority shareholding in Mortgages plc in December 2001.

Mortgages plc chief executive officer Trevor Pothecary says: “Today&#39s announcement is great news for Mortgages plc and confirms our position as one of te UK&#39s leading non-conforming mortgage lenders. Today&#39s announcement will have a positive impact on the products and services we are currently marketing.”


Several lenders&#39 websites not operational says Chilton

Purely Mortgages chief executive Mark Chilton says the main issue on the first day of mortgage regulation has been several lender websites are unavailable. This means KFIs cannot be accessed on-line and KFIs cannot be validated against the lenders&#39 by cross referencing. Also, some lenders are taking longer than usual to answer the telephone and […]

Abbey pulls two more mortgage products ahead of M-Day

Abbey has had to pull two more mortgage products ahead of M-Day. The mortgages temporarily available are the deal for life and reward mortgages. This follows on from Friday October 22 when Abbey pulled its flexible mortgage products. Sales are therefore restricted to core mortgages only which are trackers and fixed rate mortages. Abbey press […]

PFS looks to develop identity after merger gets go-ahead

The Personal Finance Society is developing its corporate identity and branding following the overwhelming yes vote to the merger between the LIA and Sofa. As well as a new logo, work has started on creating a membership register through the merging of the LIA and Sofa databases. The PFS aims to send out membership cards […]

Strongest ever equity release sales – SHIP

Despite a fall in new mortgage business, the 17 members of trade body SHIP have posted their strongest ever equity release sales at 338.4m for the third quarter.This equates to a 30% increase on its second quarter numbers and 13% up on the third quarter last year.


News and expert analysis straight to your inbox

Sign up


    Leave a comment