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Lending in July hits record £21.8bn

Mortgage lending in July totalled a record £21.8 billion, up 41 per cent from £15.5m reached at the same time last year and up from £17.1bn in June according to the latest figures from the Council of Mortgage Lenders.

It says with fears of interest rates rises receding 82 per cent of borrowers opted for variable rate loans, up from 66 per cent last July.

Loans for house purchase in July formed 58 per cent of total loans, while remortgages accounted for 36 per cent.


Jarvis offers 4.6 per cent cash Isa

Jarvis Investment Management has pushed the interest rate of its cash Isa up to 4.6 per cent. The new increased rate applies from today. The minimum investment is £250 or regular montly payments of £25. It has both mini and Tessa options.The product is offered in conjunction with Anglo Irish Bank Corporation. Jarvis and its […]

AMP offering 13 funds on child savings plan

AMP is broadening its product range with its first child savings product. The plan will be sold primarily through the tied salesforce. It was developed after feedback from its advisers showed a demand for a savings product tailored for children. The product has 13 fund options within an Oeic structure, including socially responsible investment. Minimum […]

Positive Solutions offers online tracking

Positive Solutions is introducing an online tracking system which links its RIs directly with product providers allowing them to monitor the progress of applications. Friends Provident and Swiss Life are the first providers to join the system, which the national IFA hopes will attract 20 providers before the end of the year. National accounts team […]

The missing links

One thing this year has not been short of is consultation papers on reforming the industry. The last few weeks have been no exception. Following hot on the heels of the Sandler and Pickering reports, we now have the FSA&#39s CP146 on regulating mortgage sales. At the same time, PS129 also appeared, giving the results […]

Investment clock economic update

In the latest Investment Clock economic update, Ian Kernohan, Senior Economist at Royal London Asset Management, discusses the implications of the US Federal Reserve’s recent hike in interest rates and upcoming French presidential election. The value of investments and the income from them is not guaranteed and may go down as well as up and […]


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