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Facelift for Midshires

Halifax specialist lending arm Birmingham Midshires is set for a

£500,000 brand overhaul before its launch into the sub-prime market

next month.

Supported by an intensive press advertising and direct marketing campaign,

Midshires is revamping its image to publicise its entry into sub-prime

lending following a successful trial in July.

It is running a whistlestop 21-venue roadshow throughout September to

demonstrate to mortgage brokers why it believes its new range will trump

that of sub-prime veterans Kensington, igroup, GMAC and First National.

It is also set to make more aggressive strides into the self-certification

market by making key changes to its existing range. It will now allow

first-time buyers to apply for loans, will no longer insist on a full

breakdown of income or its source and has abandoned measures requiring

employers to verify a borrower&#39s position.

It is also enhancing its buy-to-let mortgage to allow landlords to borrow

an amount based entirely on projected rental income covering 125 per cent

of monthly repayment. Each applicant can now purchase up to 10 properties.

Brokers will have access to the loans from September 17.

Head of borrowing products Steve Sandiford says: “This is a milestone in

the development of Midshires. The initial campaign will focus on building

the brand.”


B&B profits up but jobs to go

Bradford & Bingley is axing 500 staff as part of a cost-cutting drivedespite seeing profits rise by 22 per cent in the half-year to June. Profits rose to £119.7m from £98.1m in the six months toDecember but the former building society said it inten-ded to slash jobs ina bid to save £30m by the end […]

GE Life – High Income & Growth Plan

Wednesday, 29 August 2001.Type: Guaranteed equity bond.Aim: Income or growth by investing in Eurostoxx 50 index.Minimum-maximum investment: £7,000-£1m.Term: Three years two months.Guarantee: Captial returned in full at the end of term provided theEurostoxx 50 index does not fall more than 20 per cent during theterm or the final index level is at or above the […] –

Friday, 31 August 2001.Type: ASU mortgage protection plan.Maximum benefit: £1,500 or 65 per cent of gross monthly income.Benefit payment period: 30 or 60 days.Premium: £2.75 per £100 of unemployment or disability cover, £4.25 per £100 of combined unemployment and disability cover for 30 day payment period, £2.25 per £100 of unemployment or disability cover, £3.75 […]

Investors get charging deal as M&G switches funds to Oeics

M&G is to convert its unit trust range to Oeics in a move which will makeits entire fund range available on a dual charging basis. The conversion, which is set for completion on Nov-ember 1, will offerinvestors the choice of two different share classes on each of M&G&#39sopen-ended funds. For investors who do not want […]

China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]


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