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High Street Home Loans add to adverse credit market

High Street Home Loans has introduced an addition to the adverse credit market with the 8.29 per cent fixed rate mortgage.

Fixed until November 1, 2001, the mortgage has two different loan to value limits. It is open for up to 90 per cent of valuation for applicants with county court judgements (CCJs) of up to £2,000, or 85 per cent of valuation for applicants with unlimited CCJs.

For loans up to 80 per cent of valuation the mortgage has income multiples of 3.5 times principal income plus second or three times joint income, which places it above the industry norm of three times principal income plus second or 2.5 times joint.

According to Moneyfacts on November 23, 2000 it is the most competitive adverse credit fixed rate mortgage over a one-year fixed period. The second most competitive is the 8.39 per cent mortgage from GMAC residential which has a rate of 8.39 per cent.


IFAs still have the upper hand

The Government does not seem to trust IFAs to del iver stakeholder succ ess.Could it be that the massive squeeze caused by the slashing of margins to 25 per cent of their previous levels has worried the Govern ment enough for it to attempt to broaden the distribution net for stakeholder as wide as possible? […]

Scottish Life Mortgages appoints new sales manager

Scottish Life Mortgages have appointed former Chelsea Building Society assistant regional sales controller Paul Fryers as its new regional sales manager.Fryers will be responsible for developing and maintaining relationships with IFAs in the Northern Ireland, Scotland and North of England mortgage market.Commenting on his appointment, Scottish Life Mortgages chief executive says “We are delighted Paul […]

L&G chief exec stays on in boardroom reshuffle

A boardroom reshuffle at Legal and General will see chief executive David Prosser remain a further two years and corporate business director Andrew Palmer replace Tony Hobson, who is retiring as after 13 years, as finance director. The shake up means Prosser who was due to retire in 2004, will now stay on until 2006. […]

Hinton & Wild appoints new manager

IFA Hinton & Wild has appointed David McGrath as its new manager. The Surrey based advisers specialising in equity release for the elderly, aim to become market leaders in this sector, McGrath, a chartered insurance practitioner, has spent many years in the financial services industry, most recently as a Zurich Financial Services business manager. He […]


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