View more on these topics

Standard defends fall in loan market share

Standard Life Bank is hitting back at criticism that its share of the mort


gage market has slumped during a time of staff upheaval.


Standard Life took a 17 per cent share of the mortgage market last spring


but the bank&#39s share now stands at 9 per cent.


The fall comes just months after former managing director Jim Spowart left


to start up Halifax&#39s rival internet bank Intelligent Finance.


Since Spowart&#39s departure, about 70 Standard Life Bank staff have left to


join him.


But Standard says its market share over the entire year was 11 per cent


and the 17 per cent lasted for just one month.


It blames the fall on the increased competition in the flexible mortgage


market and the general drop in people remortgaging.


Managing director Neil Ross says: “A year ago, there was only three


flexible mortgage products on the market but now there are about 30.


“Competition is hotting up. But 9 per cent mar ket share is not bad for a


business going barely a year and that is now almost entirely new lending. I


would like to see it above 10 per cent.”

Recommended

Set your sites on IHT reduction

Over the past few weeks, I have been considering whether offshore trustsoffer any advantages to the UK taxpayer over the homegrown version.After looking at this issue in connection with capital gains tax,especially in light of the anti-avoidance provisions in this year&#39s Budget,I will turn to the issue of inheritance tax.When it comes to looking at […]

The Exchange teams up with NTL

The Exchange is set to bring personal finance services to millions bylinking up with ntl&#39s transmission network.The partnership will give The Exchange&#39s Moneyextra. com service access tonearly six million homes nationwide through the ntl network&#39s FinanceChannel when it launches later this year.The link-up means consumers will be able to find out about and comparefinancial products […]

Forming attachments

IFA service providers have mushroomed to seven from just one (TheExchange) at the last count, including Assuresoft, Synaptic, Misys and anumber of others created by national and network IFAs such as Bankhall andWillis National.These service providers have acted on IFA wishes to provide an electroniccomp arative quotation service and other information-based services totheir financial adviser […]

In good time

How do you clock up your 50 hours of continuing professional developmenteach year? Is attending conferences an enjoyable way to make up the hours?Or is sitting back and reading the trade press a good way of keeping up todate with the industry?CPD requirements are set to change later this year with the introductionof new rules. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment