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Openwork originated over £20bn of lending in 2007

Network Openwork has originated in excess of £20bn of lending in 2007, hitting its lending target with a 15 per cent increase on 2006.

It says that January lending levels were up over 30 per cent on December and up 10 per cent on January 2007.

Openwork’s market share in January increased from 4.1 per cent to 4.4 per cent, the highest it has achieved since inception in 2005.

The network has arranged road show events which start on April 8 and take in 10 locations around the country, finishing on May 1 in London.

Openwork mortgage proposition director Paul Shearman is confident that the network will build on its previous success. He says: “We have possibly the best mortgage proposition for advisers in the market today. We remain at the top end of lenders’ focus and this is a strong testament to their faith in our quality and production levels.”


Bankers call for delay on non-dom tax

The British Bankers’ Association and the Confederation of British Industry are calling on the Government to defer tax changes for non-doms until a full impact assessment is made.In the BBA’s response to the Government’s consultation on non-domiciliaries, chief executive Angela Knight says it is vital for the success of UK financial services that the country […]

Cazenove plays diversity card

Cazenove head of multi-manager Marcus Brookes believes the group’s diversity fund can be a bedrock of investors’ portfolios, given it offers an added level of asset exposure other cautious managed funds do not have.

The generic bill

The Thoresen review contains few surprises and a reasonable dose of common sense. It suggestsa national impartial money guidance or indeed generic advice by another name.The service will be run by the FSA at least in its first two years. We remain unsure about the appropriateness of this although the report suggests privatesector involvement shouldalso […]

Virtuous circle

F or a number of years, we used a multitude of providers for unit trust provision, with varied levels of service and support. The mid-1990s saw the launch of wrap accounts, changing the way we arranged and serviced our clients’ investments.Skandia showed what was possible when it entered the market and promoted its multi-fund approach […]


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