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FTBs are falling faster in the UK

The proportion of first-time buyers in the UK has fallen more rapidly than in any other country, according to research published by the Council of Mortgage Lenders.

The research report – International Trends in Housing Tenure and Mortgage Finance, produced by Kathleen Scanlon and Christine Whitehead at the London School of Economics – compares international trends in housing tenure and mortgage finance.

The research says despite the fall in interest rates and mortgage costs, a decade of rising house prices has seen the proportion of first-time buyers in the UK fall more sharply than the rest of Europe, the US and Australia.

Falling homeownership among young people was established in half of the countries surveyed. Only the US showed a significant increase in homeownership among young people.

The research says the UK mortgage market is one of the most diverse with many new lenders and different types of loans. There are signs that the rest of European mortgage markets may follow the UK’s example in this area but the tax and benefit system is less favourable for UK owner-occupiers than the rest of Europe.

CML director general Michael Coogan says: “Government policy on benefits is unhelpful, with only 6 per cent of housing-related benefit paid to the 70 per cent who are owner-occupiers. Encouraging the spread of homeownership would help the Government fulfil a number of broader policy objectives.”


Prestbury commission deal with papers

Prestbury has agreed a commission-share arrangement with The Times and The Sunday Times. The deal will see the newspapers’ life insurance arms paid as an introducer appointed representative for the intermediary. As part of the arrangement, the papers will carry joint branded ads which refer readers to Prestbury’s call centre.

Nvesta – Bull & Beat Tracker Plan

Type: Guaranteed equity bondAim: Growth linked to the performance of the FTSE 100 indexMinimum-maximum investment: 3,000-no maximum, Isa 7,000Term: Six yearsReturn: 100% of the growth in the index or 1% growth for every 1% fall in the index up to 50%Guarantee: Original capital returned in full regardless of performance of indexClosing date: January 28, 2004, […]

Roderic Rennison

Thinc’s new strategic relationships director credits his six months as a door-to-door insurance salesman with giving him confidence and an ability to engage with people.


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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