UK: MD OF MORTGAGE FORCE SELLS HIS MPI SHARES
Article Abstract:
Rob Clifford, managing director of MortgageForce, a franchise broking company, has sold his 25% stake in MPI, the mortgage broker, to Membership Services Direct for an undisclosed amount. Mr. Clifford, who stepped down as managing director of MPI in May 2000, set up MPI in 1992, who was then purchased by Membership Mortgages in a merger in 1997, an affinity marketing specialist firm, who was a subsidiary of Bank of Scotland. Mr. Clifford said his decision to sell his shareholding was based on commercial reasons.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: MORTGAGE COMPETITION LEVELS UNSUSTAINABLE
Article Abstract:
Credit rating agencies, Moody's and Standard & Poor's, have told UK mortgage lenders that the current levels of competition in the market cannot be sustained. The agencies believe that consolidation, new types of mortgages and falling margins are pressurising companies in an unpredictable economic climate.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: GMAC CLAIMS POLE POSITION
Article Abstract:
GMAC claims to rank in pole position among UK-based sub-prime mortgage lenders, with GBu 294mn completions in the first six months of 2001, compared to GBu 274mn for Kensington, former sector leader. GMAC has launched a range of new packages, and has also reported GBu 200mn mainstream business.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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