In brief

Ramesh Sharma

May 6, 2006

RBS Intermediary Partners has announced it will raise its loan-to-value (LTV) limits on its RBS two and three-year fixed rate products from 75 per cent to 95 per cent.

The move comes after intermediary feedback following a similar enhancement on its First Active range.

The lender has also changed its fee structure, charging arrangement fees rather than booking fees, with the amount charged remaining the same.

CML releases FTB data

The Council of Mortgage Lenders (CML) has revealed half of all first-time buyers (FTBs) pay stamp duty when buying a property.

The CML’s monthly regulated mortgage survey (RMS) revealed 17,200 FTBs (50 per cent) and over three-quarters of home movers pay stamp duty, despite the decision by the Chancellor to raise the threshold from £60,000 to £125,000 in his last two Budgets.

FSA publishes roadshow schedule

The Financial Services Authority (FSA) has published its free roadshows and surgeries schedule. The events, designed to help small intermediary firms understand key regulatory issues, are to be held in Bournemouth, Peterborough, Oxford, Aberdeen and Darlington.

The roadshows will provide an overview of topical issues and findings from thematic work, while the separate surgeries give firms the opportunity to discuss any regulatory issues with FSA staff on a one-to-one basis.

Pink and eConveyancer launch online system

Pink Home Loans and eConveyancer are to launch an online system allowing intermediaries to search and select from over 150 conveyancers on behalf of their client.

The search can be conducted by intermediaries entering the criteria relevant to each client, such as location, cost or previous user ratings.

Knight Funding offers £49 application fee

Knight Funding is offering a flat rate £49 application fee on all applications received for Platform core range products, excluding prime, before 30 June 2006. The offer includes its non-conforming three-year tracker. As an alternative to the £49 application fee, brokers have the option of enhanced procuration fees on the relevant core range products of between 0.75 per cent and 1.50 per cent.

UK Personal Finance in Matrix offering

UK Personal Finance has signed up to offer its customers Assurant Solutions’ mortgage payment protection product, Matrix.

Its customers will be among the first to have access to the product’s 253,000 policy combinations, designed to be tailored to the needs of each individual client.

Ian Moffat, sales and marketing director at Assurant Solutions said: “We are delighted that UK Personal Finance has chosen to partner with us and be part of a future of mortgage payment protection products.”

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