You are here: Home - News -

Britannic Money bounces back as Mortgage Trust

by:
  • 06/10/2003
  • 0
Britannic Money has been re-branded as Mortgage Trust. Its new owner, Paragon Group, envisages the n...

Britannic Money has been re-branded as Mortgage Trust. Its new owner, Paragon Group, envisages the new company focusing on flexible lending to smaller landlords intent on building their property portfolios.

To this end, Mortgage Trust has revealed its initial mortgage offering to the market, with three new mortgages. They are a two-year discount at 4.4%, a three-year discount at 4.64% and a one-year fixed rate mortgage at 4.69%. A key feature to the products’ design is that borrowers can agree a loan amount greater than they immediately need and hold it in reserve to fund further property purchase.

However, the move has not been painless and Paragon has announced a restructuring of Mortgage Trust’s business. This will result in 160 redundancies in Epsom, with 65 people retained and 70 new positions in Solihull.

John Heron, group director of mortgages at Paragon Group, is overseeing Mortgage Trust’s strategy. He said: “The brand will provide commitment, outstanding service, and a flexible approach to lending.”

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Broker

The Mortgage Advice Bureau The Mortgage Advice Bureau has appointed two new management personnel to...

Close