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Ex-Aldermore chief Snowdon sets up higher-LTV venture

Former Aldermore chief executive of residential mortgages Colin Snowdon has started work on a new project specialising in bringing higher loan-to-value mortgages into the market.

Snowdon has set up Colin Snowdon Consulting and his LinkedIn profile says he is working on a “new mortgage lending company, which will use highly innovative structuring and funding techniques” for the pro- vision of high-LTV loans.

Snowdon, who was chief executive of Wave Lending, says: “It is not a mortgage company in the traditional sense that gets warehouse funding and securitises it. We are looking at the problems in the higher-LTV market and looking at ways of bringing in higher-LTV products.”

Emba group sales and marketing director Mike Fitzgerald says: “There is a lot of business for those wanting to get into the high-LTV market. However, funding is tight and there are high capital requirements for higher-LTV business, so good luck to Colin if he can find a way past these problems.”



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MPs are calling on the Government to create a viable market for financial products that fund long-term care costs in the wake of the Dilnot report. Dilnot’s recommendations, published last July, call for a cap of between £25,000 and £50,000 on the amount an individual pays for social care costs before the state steps in. […]

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Axa signs FNZ deal in Elevate assets push

Axa Wealth has agreed a new deal with technology provider FNZ to recruit four teams of staff to develop the Elevate platform in its bid to achieve £45bn in assets under management by 2015. FNZ has powered the Elevate platform since its launch in November 2008. The new teams are based at Axa’s existing sites […]


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