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Mortgage 2000 online site can&#39t meet guarantee

Mortgage 2000 online site, Moneysupermarket, is facing difficulties meeting its 48 hour offer guarantee which it launched two weeks ago.

The site makes lenders bid for customers&#39 business, but due to overwhelming demand, it has had to admit some applications are taking up to 12 hours longer to process than they are supposed to.

Nearly £50m in loan applications has flooded the website in its first week in existence. Moneysupermarket says it has had to triple the number of employees processing the applications, and this why the delay has occurred.

To date, 14 lenders have signed up, but the list is notable for lacking the presence of the UK&#39s largest lenders. The site only takes mortgage applications of loans of £150,000 or more currently.

An Abbey National spokesperson says: “We see ourselves as providing a respected brand and do not want to risk that with a start-up.”


Property prices continuing to slow says Halifax

Property prices rises are slowing down according to the latest monthly report from Halifax. Prices rose by a modest 0.3 per cent in July. The figures are further evidence that the boom in the housing market is coming to an end. Halifax says the average cost of a property stands at just over £84,000, which […]

Jupiter steps into pension arena with Sipp

Jupiter is planning to take its first steps into the UK pension market later this year with a self-invested pension plan.The Sipp, being set up in October, will be Jupiter&#39s first move outside the fund management industry.It will outsource the plan to an existing pension provider rather than register it itself. Jupiter is believed to […]

Pension review puts 5% of IFAs out of business

More than 5 per cent of IFA firms went bust last year because of phase one of the pension review.The startling figures from the Investors&#39 Compensation Scheme also reveal that half the IFAs who have gone bust since the scheme&#39s launch in 1988 did so in the last year.Of the 1,321 firms declared in default […]

Variations on a theme

SD: Forthcoming launches may well remain focused upon the growth sectors of TMT although some European small company products could also vie for attention.GH: As technology was such a success in the first quarter of this year from a product provider&#39s perspective, I expect they will be considering their next theme-selling product. I would expect […]

Key themes for 2017

Capital Market Notes, December 2016 Dave Lafferty, chief market strategist at Natixis Global Asset Management, assesses the accuracy of his 2016 outlook and provides his thoughts and outlook for 2017. Click here to read the full article


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