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Genworth launches 100 per cent LTV mortgage insurance

Insurer Genworth Financial claims lenders will be able to help more first time buyers get on the property ladder after the launch of its specialist mortgage insurance product.

Genworth says the product will help to mitigate the considerable risk associated with 100 per cent loan-to-value lending by covering lenders’ risk.

Research commissioned by Genworth has shown that 57 per cent of 21-40 year old property-hunters still believe that a deposit is required to secure a mortgage, resulting in a delay in their property purchase and potentially missing out on the benefits of house price appreciation.

Furthermore, 60 per cent of those hoping to buy in the next four years said that they feared they would find it difficult to raise the money for their deposit.

“Raising a deposit need no longer be a barrier to owning a home,” says Genworth UK & Ireland managing director for mortgage insurance Tammy Richardson. “Mortgage insurance for 100 per cent LTV lending has a key role to play in providing first-time buyers with earlier access to home ownership while also enabling lenders to grow.”


Kensington widens e-commerce service

Kensington has launched automated valuations and electronic identification as part of its K-net e-com- merce platform. AVMs and e-IDs are free to brokers but packagers are only entitled to free AVMs.

Balance of probability

Bright Grey’s Roger Edwards has discovered that it is indeed a small world. Edwards, who moonlights as a body combat instructor complete with bandana and yellow gloves (yes, it is true), recognised a woman in the front row of his class but could not place her until the end of the session. It turned out […]

‘Bancassurers are a growing threat’

Bancassurers remain a growing threat to advisers as the dominant force in distribution, warns Bankhall chief executive Peter Mann. He told delegates that while IFAs still handle most life and pension business in the UK, their share has fallen while bancassurers’ share has risen. Mann cited Datamonitor figures showing IFA market share has fallen from […]

BGI trims quants

Barclays rethinks funds ahead of move to multi-manager approach

In Focus Ebola cover - thumbnail

White paper — In Focus: Ebola Virus Disease

Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.


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