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Record year for equity release according to SHIP trade body

The nine members of the consumer protection body for the equity release industry, Safe Home Income Plans, say they had a record year for mortgage business in 2001.

Total mortgage business by SHIP was up 21 per cent on the previous year to £359 million.

Combined business, which includes reversion scheme totalled £572m, up from £539m in 2000.


UK men keep savings secret from partners

Men in the UK have secret savings amounting to £7.4bn which they are not telling their partners about, according to a new study from Virgin One.The survey was planned to coincide with the relaunch of Virgin&#39s current account mortgage last month and arrived at that figure by multiplying £6,385, what it says is the average […]

It shouldn&#39t happen to a let

The growth of the buy-to-let market has been phenomenal. During the first six months of 2001, 50,000 people took out a buy-to-let mortgage. Anecdotal evidence suggests this trend has continued and that the events of September 11 simply strengthened views that property is one of the safer options available to investors.Psychologically, people like owning a […]

Field warns low earners to avoid scheme

The failure of stakeholder to penetrate the Government&#39s target market of lower earners is to be welcomed while confusion over state provision persists, says former welfare reform minister Frank Field.Speaking at a Towers Perrin pensions conference in London last week, Labour MP Field said until the Government sorts out what it will and will not […]

Good prognosis for US recovery

The massive monetary stimulus of 2001 and possibly another fiscal boost in 2002 should be enough to ensure the US sees an economic recovery in the second half of this year. The greater question concerns whether an economic rebound is already discounted in equity valuations.A great deal of bad news was absorbed by the US […]


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