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CHL mortgage tracker loans business up 28%

Specialist lender Capital Home Loans has seen mortgage applications rocket by almost 30 per cent this year after interest rate cuts increased demand for its tracker loans.

CHL, a subsidiary of Irish Life & Permanent, says it received 28 per cent more mortgage applications from January to September this year than it did in the same period in 2000.

Its new business completions shot up by 23 per cent in the nine months to September, pushing the value of its mortgage book over the £1bn mark.

CHL attributes the increase in business to the interest rate cuts in a bid by the Bank of England to stave off recession.

It believes the cuts have boosted demand in particular for tracker loans – one of CHL&#39s main lending areas – as borrowers attempt to take maximum advantage of low rates.

Marketing manager Trevor Child says: “These increases in business, which are way above what applies in the market generally, have been won on the back of our emphasis on delivering the best service and on supplying the products the market demands.”


Morley Fund Management – European Focus Fund

Friday, 19 October 2001.Type: Oeic.Aim: Growth by investing in 30 to 40 European stocks.Minimum investment: Lump sum £5,000.Investment split: 100 per cent in 30 to 40 European stocks.Isa link: No.Pep transfers: No.Charges: Initial 5 per cent, annual 1.5 per cent.Commission: Initial 3 per cent, renewal 0.5 per cent.Tel: 0800 5874563. 

Skipton Building Society – Tracker Mortgage 85 Per Cent

Monday, 15 October 2001.Type: Discounted flexible tracker mortgage.Tracker term: Four years.Tracker rate: Bank of England base rate plus 0.85 per cent.Discount: 1.4 per cent off tracker rate for six months.Minimum loan: £5,000.Maximum loan: Up to 85 per cent of valuation subject to a maximum of £1m.Income multiples: 3.5 times principal income plus second or 2.75 […]

FSA criticised for poor handling of Equitable debacle

The FSA has been strongly criticised for its poor handling of the Equitable Life affair by the report looking at its role in the debacle.The report conceded most of the problems which led to the decision by the life office to close its doors to new business last December occurred before the FSA was handed […]

Teather & Greenwood IM appoints Sweet

Teather & Greenwood Investment management is appointing John Sweet as senior fund manager.He joins from Invesco Perpetual Unit Trust managers where he managed the £350m UK smaller companies unit trust and the £85m UK smaller companies investment trust. Sweet will be responsible for establishing a smaller companies fund under the umbrella of TGIM&#39s recently launched […]


Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders


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