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Archive for September, 2012

Northern Rock launches new 90% LTV mortgage to help First Time Buyers

Saturday, September 29th, 2012



Northerly Rock has introduced a new selection of Everyday mortgage deals with competitive rates available up to a max of 90% LTV as part of its new support package for First Time Purchasers. Designed to make an appeal to people who have lower deposits but with good cost, including First Time Buyers, a 2-year fixed rate mortgage deal is available at 5.99%, a three year Fixed Rate is 6.49% and a five year Fixed Rate is 6.59%. No product costs are due on any of the products, all of which are being offered immediately through Northwards Rock branches and UK call centre, as well as being available thru some of the bank’s intermediary partners. As well as these new releases, Northerly Rock has also dropped mortgage interest rates across the remainder of its mortgage range, with Everyday Fixed rates for customers with deposits of 25 percent and 30 percent reduced by almost 0.19%, Everyday Trackers for those with deposits of 25% and 30% have been reduced by as much as 0.30%, 2-year fixed mortgage rate BTL (BTL) deals cut by 0.60%, and longer term BTL deals by 0.20%. With First Time Buyers to mind, the new ninety percent LTV mortgages northernrock will be enhanced by a new mortgage service offer, to help customers take their first steps onto the property ladder. Research carried out by the bank disclosed that while First Time Purchasers are delighted at the prospect of owning their own home, they felt the process could be dismaying and confusing, with little support available in the market to meet their specific requirements. Northerly Rock has thus drew up a full mortgage delivery service for First Time Consumers, developed especially to ease these concerns and guide customers through their first experience of purchasing a home.

Andy Tate, Northern Rock’s Customer and Commercial Director, recounted : “Our fresh mortgage products, which may be offered inside our cautious risk appetite and only to consumers with good price, should appeal to those who have lower deposits and First Time Customers. “First Time Purchasers are crucial to the home and mortgage markets. Having listened to those consumers, we have developed a service that not only helps them to arrange the right type of mortgage that they can afford, but also supports them thru the varied steps in the process.” Northwards Rock will help steer customers thru the house-buying process using 10 simple steps, which covers a different area of the house purchase journey, from setting an affordable budget at the outset, right thru to exchange and completion. Experienced advisors will also be available both on the phone and in branch to reply to any questions. A new animated video guide for First Time Purchasers has already been added to Northern Rock’s award-winning mortgage website to help purchasers with their initial research.

It offers northernrock mortgage accounts to customers in the United Kingdom and Ireland and mortgage homeloan offerings to UK borrowers. New mortgage products are offered through both direct channels – including a countrywide branch network – and mortgage middlemen. Northern Rock continues to operate in the compensatory measures concluded with the EC as a part of the state Aid approval announced in October 2009. Media Contact : Jule Wilson North Rock House Gosforth Newcastle on Tyne NE3 4PL 0191 279 4676 northernrock.


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Total Mortgage Services Promotes Erik Martin To State Sales Chief Of Retail Channel

Saturday, September 29th, 2012



Total mortgage Services, LLC, a leading mortgage corporation, announced today the marketing of Erik Martin as the company’s National Sales Chief of its retail channel. Mr. Martin brings to this newly-created position fifteen years of production, underwriting and operational management experience in the mortgage industry. In his new role, Mr. Martin will be responsible for augmenting the production and potency of the retail channel through inducting quality production professionals, providing extra coaching platforms to the sales team, and enhancing the channel’s overall marketing capability – including providing low loan rates to customers. Mr. Martin will report directly to John Walsh, President, and be based in Milford, Connecticut.

“As the industry continues to progress, the next generation of sales leadership must have a clear understanding of the underwriting process so as to further augment the lending worth chain, mitigate risk and deliver the highest quality loans to investors,” commented Mr. Walsh. “Erik possesses notable finance industry recommendations that include direct underwriting experience as well as production and mentoring responsibilities. These can be leveraged to accelerate Total Mortgage’s retail channel success and enlargement strategy.” Most lately, Mr. Martin was Underwriting Manager at Total Mortgage Services, where he was responsible for the oversight of all retail and wholesale channel underwriters.

Previously, Mr. Martin spent six years as Manager / Member of Gateway Home Loans LLC, where he led all everyday operations of this start up lender including recruiting, coaching and marketing. Before this position, Mr. Martin was Director of Operations, where he guided the bank from a start up broker to a banker and was answerable for all sides of business operations and employee management from origination thru post-closing.

About Total Mortgage Services, a provider of some of the lowest loan rates, is a leading eadge direct-to customer and wholesale finance company. The Firm has bankrolled over $6 billion in home loans since 1997. The company was included in the Inc. Mags ‘ list of America’s Fastest-growing corporations in 2010 and holds Better Business Bureau “A” ranking since 1997. Licensed in twenty-one states, offering a range of products and programs including flat rate loans, variable rate loans (ARMs), jumbo loans, FHA mortgages and more.

In 2010, the company launched its wholesale lending platform TMS Funding. Visit TotalMortgage for current mortgage rates, FHA mortgage rates, jumbo mortgage rates, ARM rates as well as other mortgage rates. For more information on Total Mortgage, feel free to visit totalmortgage distribution of press releases . Media Contact : John Lovallo Lovallo Communications Group Fone : 203-526-6371 Email : john.lovallo (at) lovallocommunications (dot) com Or e-mail Total Mortgage immediately at press (at) totalmortgage (dot) com.


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NoDebtEver Launches Credit Consolidation calculator for Folk with Card Or Loan Consolidation Problems / Mortgage Issues

Friday, September 28th, 2012


<!–ACNTP NoDebtEver, a website specializing in appraisals of credit consolidation and loan operations, has just released a new loan calculator. The calculator not only tells you what IR you Should be paying on your debt or loans, it also steers you immediately toward sites where it is possible to get an improved deal, no questions asked. This is the first in the latest generation of  debt loan and Visa card tools designed to help the standard surfer take full advantage of their declining resources. In these times of business difficulty, tools like the NoDebtEver calculator will become increasingly common and will start to drive the great majority of business for credit and loan companies. While most banks and credit firms already have calculators on their sites, they are not independent, and in fact have a tendency to only counsel their own goods and services. NodebtEver have addressed this problem by providing an equitable service that may point the consumer directly to the top deal available, without extracting any commission of fees during the procedure. Martin Davis, Head of Software at NoDebtEver, had this to say : “We are glad to provide this wonderful credit and debt tool to our visitors. The Web requires much more transparency, and hopefully this may address some of the many issues folks get because they’re conned into believing that ‘money superstore ‘ sites and others are in any fashion independent, when actually they are effectively tied brokers, working for a fee”. ACNTPEND–>

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Mortgage availability shows ‘significant’ improvement, says Bank of England

Friday, September 28th, 2012

The Bank of England said overall availability of secured mortgage credit to households increased significantly in the quarter to September, in contrast to previous expectations for little change. #property #mortgages     http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/9568420/Mortgage-availability-shows-significant-improvement-says-Bank-of-England.html



However, most of the products were aimed at people with big deposits and the Bank noted that credit-scoring criteria tightened over the quarter. The overall availability of credit to the corporate sector was reported to have remained unchanged for small, medium and large companies.

The Bank of England and the Treasury’s £80 billion Funding for Lending scheme was fired into action at the beginning of last month to unclog the flow of mortgage credit to households and businesses.

Yesterday, the Bank said it had seen an “early impact” of its scheme as mortgage borrowing rates begin to come down, but warned it might not be able to prevent total lending from falling over the next 18 months as wider global economic troubles continue to weigh on markets. In its credit conditions survey today, the Bank said mortgage availability is expected to increase further over the next three months, including to borrowers spread accross mortgage loan to value ratios.

Vicky Redwood, chief UK economist for Capital Economics, said: “Overall, the outlook for mortgage bank lending is better than it was a few months ago, helped by the latest policy initiatives. Nonetheless, we think it will be a long and slow process to get credit flowing freely around the economy again.”

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