The cost of sub-prime mortgage borrowing looks set to rise and several lenders admit that rates will have to increase substantially.Merrill Lynch subsidiary Mortgages plc has confirmed it is repricing its sub-prime product range, with Edeus set to follow this week.GMAC-RFC has already increased its fixed-rate loans and says it is repricing its Partners fixed […]
Britain’s pension funds dropped by £27bn to create a £15bn deficit after the latest stock market dive. The biggest drop in the stock market since the eve of the Iraq war saw the value of shares fall by £60bn in a single day’s trading, leading to the £12bn surplus in pension funds that had been […]
British Insurance has launched a new mortgage payment protection insurance product which will be underwritten by Norwich Union and distributed by Paymentshield.The insurance is level rated and underwriting does not take into account age, occupation or gender. Disability cover and unemployment cover costs £1.95 per £100 of cover individually or £2.95 per £100 of cover […]
Non-conforming lender Victoria Mortgages is set to increase its sub-prime products by 2.5 per cent following its withdrawal from the market earlier this month.The lender expects to launch its re-priced products by the end of the month.With its sub-prime rates increased by as much as 2.5 per cent, the lender has effectively priced itself out […]
Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.
Schroders and Lloyds Banking Group have joined forces for a financial planning and wealth management proposition for wealthy clients. The new business aims to address the “growing gap in the advice market” through a personalised, advice-led proposition. The partnership will bolster Schroders’ expansion into the UK wealth management market, while Lloyds says it will help develop […]
The gap between what women earn and save compared to men continues to grow according to Office for National Statistics figures released today. Analysis for young people aged 16 to 29 shows the level and growth of median annual earnings were generally lower for women than men whether they were degree or school-educated or had […]