In brief

Ramesh Sharma

March 25, 2006

The Financial Services Authority (FSA) has put on hold its work to develop rules to bring about contract certainty in the insurance market.

Speaking at the FSA’s Insurance Sector Conference, John Tiner, chief executive officer at the FSA, acknowledged the progress made by the insurance market in meeting the FSA’s challenge to achieve contract certainty away from the ‘deal now, detail later’ approach.

AMI holds regional conference

The Association of Mortgage Intermediaries (AMI) is to hold its regional conference in Bristol on 30 March.

The conference is bring held at the Arnos Grove Hotel, Bristol, starting at 9am.

Speakers include AMI director-general Chris Cummings, Philip Ryley of TLT Solicitors, Alan Dring of eConveyancer and Laurence Sanders of Bristol & West, among others.

AMI members wishing to attend can visit: http://www.a-m-i.org.uk/events/default.asp to book their place.

Oakwood Group acquires Pepper Homeloans

Oakwood Group has expanded its portfolio of wholly owned companies with the acquisition of Pepper Homeloans, a specialist residential mortgage lender in Australia. The transaction sees Oakwood acquire the entire share capital of Pepper. The financial details of the transaction have not been disclosed.

Platform announces results

Platform has announced a 20 per cent increase in completion volumes in 2005 compared to 2004, which resulted in over £3 billion of completions. The specialist lender also hit the milestone of over £5 billion of mortgage assets. David Tweedy, managing director of Platform, said: “2005 was a busy but enormously successful year for Platform and we are delighted to have exceeded our growth targets and consequently have made a valuable contribution to the group.”

em- adds Victoria

em- has added Victoria Mortgages to its em- homeloans branded lending panel, and extended its free valuations and no application fees on its entire non-conforming range. Victoria’s products will include a near-prime, three-year stepped discount mortgage at 4.81 per cent. In addition it is reducing its three-year fixed near-prime initial rates, with one CCJ up to £250 allowed per applicant.

BM enhances product rates

BM Solutions has enhanced the rates across its self-cert and buy-to-let ranges.

It has launched a two-year buy-to-let tracker remortgage deal at 4.49 per cent, available at 85 per cent loan-to-value (LTV), with a free remortgage service and valuation refund. It has also changed its fixed rate product range, with the launch of a buy-to-let fixed rate available until June 2008 available at 5.19 per cent.

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