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LTV level low says CML

Much lower numbers of borrowers are taking out high loan-to-value mortgages compared with the 1980s and early 1990s, according to the Council of Mortgage Lenders.

Its research has shown that only around 5 per cent of today’s house buyers borrow the full value of their house, compared to 25 per cent of borrowers 10 years ago. Those taking out loans up to 4 times their income has also fallen, with the average income multiple now at 2.25.

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GE Capital, the financial services arm of US giant General Electric, has acquired sub-prime lender igroup in a deal worth over £200m. In a move which marks GE&#39s first foray into the UK mortgage market, igroup is set to retain its existing management staff and brand name despite a chequered history. GE Capital Europe president […]

Schroders – North American Fund

Friday, 1 June 2001.Type: Unit trust.Aim: Growth by investing in North American companies.Minimum investment: Lump sum £1,000, monthly £25.Investment split: 100 per cent in North America.Isa link: Yes.Pep transfers: Yes.Charges: Initial 5.25 per cent, annual 1.5 per cent.Commission: Initial 3 per cent, renewal 1.5 per cent for Isa and Pep transfers only.Tel: 0800 718777. 

Autif says polar shifts will sink the discount brokers

Autif is predicting that discount brokers will be wiped out by changes topolarisation because they will not be able to sustain their niche marketposition. Chairing a polarisation debate at PIMS 2001 on the Oriana this week, Autifsaid that depolarising the market would almost certainly spell the end fordiscount brokers as they would lose their competitive […]

Berkeley Alexander – MortgageSafe

Monday, 4 June 2001.Type: Accident, sickness and unemployment insurance.Maximum benefit: £1,500 a month or 65 per cent of monthly income, whichever is lower.Benefit payment term: One or two years.Deferred period: 30 or 60 days.Premium: £4.25 per £100 of cover.Commission: Initial 25 per cent, renewal 25 per cent.Tel: 01273 477784.

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