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Investec to continue providing funding to Unity Homeloans

Unity Homeloans will continue to be funded by Investec when it relaunches it sub-prime product range.

This comes after Infinity Mortgages – which withdrew from the sub-prime market at the same time as Unity Homeloans and also backed by Investec – has stated that it is currently talking to other potential backers as Investec has not been able to guarantee it a funding line going forward.

Chief executive Paul Thomas, who has been seconded over from Investec as a replacement to former ceo Ian Nelson, says it is currently working on its next securitisation issue and new range of products.

“We still have the same plans in mind and Investec will be providing the funding for Unity. We still can’t commit to a specific day for when we will be re-launch our products but we do intend to come back to the market”, says Thomas.

He says that althought there is no sign of improvement yet in the market there are a few more deals being done but it is still very early days.

Thomas adds: “We’re currently completing our pipeline business at the moment.”


President Bush offers measures to help US sub-prime homeowners

US president George Bush announced a range of measures last week in a bid to help American homeowners meet mortgage payments following the recent US sub-prime crash.This comes as Federal Reserve chief Ben Bernanke pledged to shelter the US economy from the turmoil in the world markets, hinting that a rate cut might be on […]

A different story

I have been spending time, probably too much time, dissecting the propositions in the RDR document.

Standard Life UK profits strengthen

Standard Life’s life and pension gross operating profit in the UK rose by 70 per cent to £252m in the first half of 2007, up from £148m in the same period in 2006. Standard Life’s interim results show new business contribution was up by 71 per cent to £133m from £78m due to 45 per […]

Kensington to re-price and tighten criteria on adverse range next week

Kensington has confirmed it will be re-pricing and changing its criteria for its adverse range but will announce the exact details next week.The lender says its adverse range will be re-priced and its criteria changed on September 7 and has sent an email around to brokers in order to give them a week’s notice.Kensington has […]


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