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Future Mortgages wants Mig rethink

Specialist lender Future Mortgages is calling on the industry to review the use and application of mortgage indemnity guarantees, used by lenders as insurance against customers who default, because they do not offer any benefits to borrowers

It says with house prices nearly 20 per cent higher than this time last year there is a serious affordability issue to be addressed.

It warns more first time buyers are falling into higher LTV bands and as a result are facing additional Mig payments.

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Scottish Life International&#39s select income and growth bond gives two options, one for the more aggressive investor and one for the more cautious. Both are linked to the FTSE 100, S&P 500 and Eurostoxx 50 indices. The aggressive option guarantees a 10 per cent gross annual income, 2.4 per cent quarterly income or 32 per […]

CMI and Axa list Opal London Property Fund

The Opal London Town Property Fund has been put on the elegible lists for offshore portfolio bonds from Axa and Clerical Medical. The fund was launched in April 2002 and invests in residential property developments in London and the South East. All the properties are exclusively sourced and managed by London Town Plc.Tilney Investment Management […]

With-profits exodus is averted

A mass stampede out of with-profits has been prevented after Hong Kong-based Towry Law International managed to stop NM Rothschild & Son (CI) calling in gearing loans on offshore investments. Guernsey-based bank Rothschild had lent large amounts of money through Credit Select, a product that allowed offshore investors to obtain loans to buy with-profits policies. […]

Specialist subject

The qualification deadline set by the Mortgage Code Compliance Board for advisers is just over four months away but over half of advisers have not yet sat the exams. The Intermediary Mortgage Lenders&#39 Association, which released this statistic, says it shows ignorance and apathy on qualifications. But the MCCB claims that around 80,000 advisers have […]

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