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Cheltenham & Gloucester pulls out of 100 % mortgages

Cheltenham & Gloucester has become the latest lender to pull out of the 100 per cent loan to value market.

This comes after the market for 125 per cent mortgages disappeared last week.

C&G says it will no longer offer 100 per cent mortgages and has reduced its LTV to 90 per cent.

The lender has said before that its 100 per cent mortgages only represented a tiny part of its business.

Parent company Lloyds TSB will still offer 95 per cent mortgages due to the fact that the majority of its mortgages are to the bank’s own customers so it has a more complete picture of their financial affairs.


Tories set to champion green Isas

Shadow chancellor George Osborne will today propose an extension for Isa investments in green companies in a bid to raise awareness over climate change.The new green Isas – or GIsas – will become part of the chancellors Save for the Planet campaign with firms who actively look to lower their carbon footprint given a green […]

Bank bounce

Iwas addressing the first of the Association of Investment Companies’ private investor roadshows last week. In a week where much of the news has been downright gloomy, it gave me a spark of hope.The venue was central London, perhapsnot the most representative place to takethe temperature of the investing public.There were no signs of panic […]

M&E in row with retired adviser

Tenet-owned M&E Network is embroiled in a row with a retired adviser over a £4,000 misselling claim on an endowment policy.M&E has told retired adviser Michael Reis that he owes £4,000 for an endowment misselling claim, which the network alleges is due to negligent advice given by himto the client.But Reis, who was an appointed […]

Skandia profits rise 29%

Skandia UK and Offshore has announced net client cash flows of £3.9bn for 2007 and an increase in profit of 29 per cent to £173m. It says its strategy of designing products and financial solutions solely for distribution via financial advisers is key to this success.Skandia UK’s gross sales during 2007 were £8.6bn with funds […]


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