View more on these topics

TMB rate rise to stem business flow

The Mortgage Business, one of the lenders in the HBOS group, is to raise its rates across its range of loans to slow business inflows.

Details of the increases are not yet available but TMB, which deals exclusively through brokers, has confirmed it will be raising prices across its entire range from the end of April.

The firm, which is split into three areas of business – flexible, buy to let and self-certification, says it has already hit targets for the first half of the year and does not want to over-extend itself.

The move comes just two weeks after HBOS chief executive James Crosby said the group is no longer interested in just market share and would focus on quality lending. TMB says its decision is entirely related to the fact that business inflows have far exceeded expectations.

Managing director Bill Dudgeon says he will not provide details of the price increases before the end of April when they are posted on the firm&#39s website but he says there will be some positives.

He says: “We have already hit targets for the half-year. We have just got far too much business coming in the door at the moment. We will be increasing prices across the range of products although there will be some positives for brokers as well.”


Ex-DBS chief Ansell joins Prestbury

Former DBS chief executive Nick Ansell has joined non-regulated financial services firm Prestbury Holding as strategic development director. Ansell, who stepped down from DBS following parent Misys IFA services&#39 integration of the firm into a single management and support structure in August 2002, will focus on the development of Prestbury&#39s IFA arm and new business […]

Julian Gibbs

An unsung hero is Alec Foster, manager of the Hiscox insurance portfolio unit trust, because of his investment performance as well as his stockpicking acumen. He has managed to outperform the insurance sector benchmark and the FTSE All Share index by substantial margins since the fund was launched in late 1998. Since then, the fund […]

Kenmir broaches IFA issues

FSA managing director David Kenmir and a group of IFAs will discuss the big issues facing the intermediary sector at a Money Marketing round table discussion next week. Eight IFA firms will use the session to tell the FSA what the real problems facing their businesses are and how the regulatory framework could be changed […]

Home Fees Agency sets up own equity-release plan

The Nursing Home Fees Agency is offering its own equity-release service in response to demand. It says the new NHFA Lifetime Mortgages service means it can offer younger clients and possibly their relatives the ability to stay in their homes or improve the quality of their lives by drawing down income or capital from their […]

Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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