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BUDGET: Brown confirms carbon-free stamp duty exemption

Chancellor Gordon Brown has confirmed in today’s Budget that all new carbno-free homes worth up to £500,000 will be exempt from stamp duty from October.

This commitment was set out in December’s pre-Budget report but without an indication as to which homes would benefit from the exemption.

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Mortgages PLC completes £575m deal

Mortgages PLC has announced it has completed its latest securitisation deal worth £575m.The portfolio, known as Newgate 2007-1, is the Merrill Lynch-owned lender’s 11th securitisation deal and comprises predominantly AAA-rated mortgage assets. To date Mortgages PLC has securitised more than £4.8bn of mortgages.Chief financial officer Tim Cooley says: “This is another successful securitisation for Mortgages […]

Pru opens the factory gate

Life market consultant Ned Cazalet says Prudential needs to stick to a consistent strategy if it is to persuade policyholders and shareholders it is committed to the UK market.As part of the restructure of its business set out last week, Pru plans to quit the front-end commission market for individual pensions and unit-linked bonds and […]

Batchelor focuses on UK for Lehman

Guy Batchelor has been appointed as Lehman Brothers UK mortgage business sales and marketing director.Former Platform head of sales and marketing Batchelor has been with Lehman since January as franchise development director for Europe but has now switched to a UK-only focus.It also means he will retain his front-line role in the media spotlight that […]

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