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Confidence in housing market near 1997 peak

Intermediaries&#39 confidence in the mortgage market reached its highest level in the first quarter of this year since its peak in 1997, says specialist lender Paragon Mortgages.

The Paragon financial adviser confidence tracking index gives a rating of 121.7 for the first three months of 2002, up from an all-time low of 99 in the same period of 2000 and only slightly below the 123.9 peak five years ago. Paragon says this upward trend is set to continue into the spring quarter.

The Fact index shows intermediaries introduced an average of 26 mortgages each during the first quarter of 2001 compared with 23 last year and 20 two years ago. This is a reverse on the trend between 1997 to 2000 when a declining number of mortgages were placed through advisers.

Managing director John Heron says: “The Paragon Fact index is proving to be a consistently accurate forecast of trends in the mortgage market as a whole. It has been especially interesting to watch the trend towards more business being placed through financial advisers since 2000. This suggests a public that is confident but likes to take full advantage of professional advice.”


Divide and rule on &#39consultation&#39

The Orwellian plot line that is the CP121 consultation continues apace as organisations and businesses great and small make their submissions.Entering the debate with an appropriately political sense of timing, comes the Office of Fair Trading, with director general John Vickers endorsing the FSA plans. The OFT started the ball rolling in the first place […]

Scottish Life International – Protected Term Deposit Series 1

Monday, April 22, 2002Type: Guaranteed equity bondAim: Growth linked to the FTSE 100, S&P 500, andEurostoxx 50Minimum investment: Lump sum £15,000Place of registration: Isle of ManInvestment split: 100% linked to the FTSE 100, S&P 500and Eurostoxx 50Guarantee: Capital returned in full along with 10.2% at end of termregardless of movement in indicesIsa link: NoCharges: ImplicitCommission: […]

Norwich Union – Managed High Income Fund

Thursday, April 25, 2002Type: OeicAim: Income by investing in global corporate bondsMinimum investment: Lump sum £1,000, monthly £50. Isa lump sum£500, monthly £50Investment split: UK investment grade 40%, US high yield 35%,European high yield 15%, emerging markets 10%Yield: 7.35% gross a yearIsa link: YesPep transfers: YesCharges: Initial 4%, annual 1.25%Special offer: Initial charge reduced to […]

APMM elects new chairman

The Association of Policy Market Makers has appointed Brian Goldstein as its chairman to succeed Paul Sands. Goldstein is managing director of Tep market making company Policy Portfolio. The APMM has also elected 1st Policy Company managing director as vice chairman, Policy Plus sales and marketing director David Carrington as honororary secretary and John Heller […]


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