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Average buy to let loan grows

The average loan for buy to let properties rose 33 per cent to £102,000 in the three months from December to February, against £76,600 during the previous three months.

But the number of loans made was down 3.5 per cent at 4,218 between December and February, compared with 4,369 in the Autumn quarter, according to figures from the Association of Residential Letting agents.

ARLA president Robert Jordan says: “Our members report the supply of rental properties cannot meet demand in London and the south east and the rest of the country shows a balance between supply and demand.”


Deputy group MD for Leeds IFA Bates

Leeds-based IFA Bates Investment Services has appointed Jonathan Gains as deputy group managing director. Gains will maintain his role as managing director of Bates&#39 direct investment arm, Wiseup, but will also be responsible for the firm&#39s growth plans.

Catmark Isas clawed out of depolarisation

The FSA has excluded Catmarked Isas from phase one of its changes to polarisation. The FSA this week decided to push ahead with depolarisation of stakeholder and direct-offer products but not Catmarked Isas. It made the decision after listening to arguments from the Financial Services Consumer Panel and the industry which claimed the proposals could […]

Federal Reserve cut not enough for US markets

The US Federal Reserve cut interest rates by 0.5 per cent to 5 per cent yesterday in an attempt to shore up confidence in the US economy.But the move failed to satisfy US markets which had hoped for a larger cut. The Dow Jones Industrial Average fell 2.4 per cent to 9720, its lowest for […]

Britannia launches new capped rate mortgage

Britannia Building Society is launching a new mortgage capped for the first two years at 4.90 per cent. Benefits include 12 months free unemployment cover, a cash bonus every year under the society&#39s profit sharing scheme and is Mig free for customers with at least a 10 per cent deposit. The loan reverts to Britannia&#39s […]


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