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HBOS won’t touch shared equity until conditions improve

HBOS has ruled out taking part in the Government’s new shared equity scheme until market conditions improve.

The news comes as Nationwide non-retail executive director Matthew Wyles says the company’s product team is looking at the scheme while Yorkshire Building Society says it has “agreed in principle” to offer the product.

Halifax was a member of the Government’s original Open Market HomeBuy scheme, HBOS head of specialist lending Stephen Sandiford says it will not be offering the new product at present.

He says: “It is the wrong time to be doing a lot of these things. We may look at it again when conditions improve.”

The Government set up two new products through its Open Market HomeBuy scheme in the Budget.

This includes an Ownhome product which is provided by Places for People and the Co-operative Bank, and the MyChoice HomeBuy product, which lets borrowers apply for a mortgage with a panel of lenders and an equity loan funded by one of eight housing associations.

Wyles says Nationwide is looking at the scheme. He says: “If we can support it, we will. Our team are having a look.”

A spokeswoman for YBS says although it has agreed in principle to be part of the scheme, it does not have a timeframe for when it will go live.”


Lipsey to chair consumer panel

Former PIA director Lord Lipsey, who controversially claimed that some pension and endowment policyholders only received misselling payouts after being untruthful about their policies, is to chair the Financial Services Consumer Panel.

Estate agents claim market is stabilising

The National Association of Estate Agents says members are seeing signs of stability in some areas of the housing market, including sales agreed, the number of viewings before a sale is secured and the average difference between asking and sales price.

Guidance online for TCF

Online compliance consultant Joanne Roberts has released TCF guidance notes for advisers at

Craig Inches – thoughts on how to preserve capital and generate income in an inflationary environment

In this short video, Craig Inches, head of short rates and cash at Royal London Asset Management, offers his thoughts on how to preserve capital and generate income in an inflationary environment. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well […]


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