1. Barclays to drop Woolwich brand – exclusive
Barclays will scrap the Woolwich brand from its intermediary mortgage lending business and rebrand to Barclays Mortgages.
2. Court reverses Northern Rock Together mortgage compensation decision
The Court of Appeal reversed a decision that would have led to compensation being paid to 41,000 Together mortgage borrowers with the former bank Northern Rock.
3. More lender affordability changes are on the way
A telling remark emerged recently from the Council for Mortgage Lenders’ monthly market commentary when economist Mohammad Jamei talked about lending affordability requirements holding back market growth, says Andy Gray.
4. RBS/Natwest has big budget and exciting plans for mortgage business – Higginson
George Higginson, ex-CEO of Sesame Bankhall Group, says RBS/Natwest has a big budget and exciting plans to improve processes across the broker and direct mortgage channels.
5. Property Ombudsman bans letting agent
A lettings and estate agent has been expelled by the Property Ombudsman for a minimum of two years.
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6. FOS receives mortgage complaints over rigid MMR policies
Lenders have been criticised for applying rules brought about by the Mortgage Market Review (MMR) too rigidly leading to the unfair treatment of borrowers, said the Financial Ombudsman Service.
7. Barclays plans to cut 30,000 jobs over two years
Barclays is planning to cut 30,000 jobs over the next two years in a bid which is intended to help the bank cut costs, following the departure of CEO Antony Jenkins.
8. Brightstar sells minority stake to private investment firm
Brightstar has a sold a minority stake in its company to private investment firm, Omni Equity Partners, and will appoint a member of Omni to its senior ranks as a non-executive director.
9. Case study: Integrating a mortgage sourcing system
Personal Touch integrated Twenty7Tec’s mortgage sourcing system into its own back office technology at the end of 2014. David Carrington, sales and marketing director, recounts the journey and how it has benefited advisers and the network.
10. Are networks letting down their ARs? Marketwatch
In the Financial Conduct Authority’s (FCA) MMR thematic review, Appointed Representatives (AR) of many large networks were criticised for giving advice which had little or no structure. This week’s Marketwatch asks the industry the tough question.
Have a great weekend all from the Mortgage Solutions team.
