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Panorama investigation shows 70 per cent of repossessions are from sub-prime market

BBC programme Panorama will report on research which has found that seven out of ten homes repossessed in recent months were owned by sub-prime mortgage borrowers.

Research shows that sub-prime borrowers equate for more than 70 per cent of 7,000 homes repossessed in the last three months.

Panorama, which features tonight at 8.30pm on BBC 1, will feature one borrower – David Bradbury – who was given a 25-year £55,000 mortgage to buy his council house despite living on benefits and being in poor health.

Bradbury now pays an interest rate of over 11 per cent and he and his wife have faced a repossession hearing.

Council of Mortgage Lenders’ statistics show that seventy-seven homes were repossessed every day in the first half of the year, the highest rate for eight years.


TMP buyout system to cut out churners

The Money Portal has launched a practice buyout system that values businesses by as much as six times annual earnings but penalises advisers for any perceived churning.The system, unveiled at the Sage conference in Alicante this week, will apply across TMP’s businesses and forms part of its response to the RDR.The What If? system rates […]

B&B underlines credit quality with covered bond issue

Bradford & Bingley’s issuance of a £500m two-year covered bond through ABN Amro last week is a positive sign of its credit quality, say brokers.Covered bonds are securities backed by mortgages or public sector loans that remain on the issuer’s balance sheet. Both HBOS and Nationwide have recently used covered bonds.This comes after B&B saw […]

Counting the cars

First State is a name known to many investors as a leader in Asian and emerging markets but what is less known about this Australian fund management company is that they have expertise in many diverse areas including resources, property and infrastructure.Infrastructure is a new area for specific investment, although it has been a sector […]


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