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Government urged to reform benefits system to prevent repossessions

The Council of Mortgage Lenders had today urged the Government to help reduce arrears and repossessions by reforming the benefits system to help those in trouble.

In its pre-Budget report, the trade body calls on the Government to increasethe £100,000 maximum mortgage sum eligible for income support for mortgage interest. This threshold has not been increased since 1995.

The report also urges the Government to reform the stamp duty process and ensure there are enough energy assessors to deliver the energy performance certificate, part of home information packs.

CML head of research and information Bob Pannell says: “Home-ownership is far and away the most popular tenure in the UK. But it is surprising that at a time when the government is promoting the wider benefits of home-ownership, the safety-nets it has in place to help struggling home-owners are being neglected.

“We strongly urge the government to demonstrate its commitment to sustainable home-ownership by reviewing how the benefits system helps home-owners who find themselves in difficulty.”


HSBC fund of fund range for IFAs

HSBC Investments has set up a multi-asset fund of funds range exclusively for IFAs.HSBC OpenFunds initially comprises two funds – global return and global distribution, as exclusively revealed by Money Marketing last month, and plans to add another two funds to the range.Global return focuses on growth while global distribution aims for income and growth. […]

Invista European Real Estate Trust announces IPO

Invista is set to float its Luxemburg registered European Real Estate Trust and is seeking a listing on the London Stock Exchange.The IPO is expected to raise more than £166m giving the company a market cap of £207m as at admission at the offer price.Invista Real Estate Investment Management (REIM) was formerly the property fund […]

Bills to set out pension reform

The Queen’s speech put forward a bill for state pension reform and possibly another bill on personal accounts.

Parents forced to fund FTB purchases, says Government

Parents could find themselves under increasing financial pressure to help their children onto the property ladder if new home are not built, Housing Minister Yvette Cooper warns today.Fourteen thousand people a year are releasing equity from their homes to help them buy another property, often for their children. The average sum withdrawn is £74,000, Government […]


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