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Victoria Mortgages represents 0.064 per cent of mortgage lending as FSA confirms administration

The FSA has confirmed that Victoria Mortgage Funding has been placed in administration and says that up to 381 customers could be affected.

Christine Laverty and Michael McLoughlin of KPMG have been appointed as joint administrators.

The FSA says that the lender represents about 0.064% of the mortgage lending market.

The firm, which is based in London, believes that up to 381 customers who have current mortgage offers may be affected.

GMAC-RFC has offered to review potential completions for home purchase transactions due in the next three days with a view to providing these borrowers with a mortgage loan.

The firm has provided packagers/brokers with relevant case application details to help secure alternative mortgages for remaining customers.


Child and Edwards join Vertex board

Vertex has appointed two divisional directors to sit on its main operating board to continue its focus on growth within the financial services sector. Vertex Life, Pensions and Distribution managing director David Child and Vertex Mortgages and Banking managing director David Edwards will join the eight-strong Vertex main board. The board, led by chief executive […]

Protection plea

Some advisers believe that the protection business will be brought under the constricts of the retail distribution review and are calling for pure protection to be ringfenced. Helen Pow reports

Aifa attacks RDR independence logic

Aifa has attacked the lack of logic behind the Retail Distribution Review and reaffirmed that whole of market advice is an essential condition for independence.

TMW launches point of sale offers from Monday

The Mortgage Works will be launching an online point of sale offer facility from September 17.The system will be available on a number of buy to let products.Nationwide Specialist Lending managing director Andy McQueen says: “This is a fantastic development for The Mortgage Works. Not only does the instant POSO strengthen our online proposition, it […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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