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Risky lending to decline but BTL boom goes on

High-risk categories of lending are expected to see a reduction in business in the coming months, according to Intermediary Mortgage Lenders’ Association’s latest member survey.

Self-certification business is expected to fall by around 2 per cent over the next quarter while light, medium and heavy-adverse volumes are predicted to ease by slightly smaller percentages.

Lenders believe that mainstream lending will continue to grow steadily by 2.5 per cent over the next quarter. Buy to let is expected to surge by a stronger 3.6 per cent.

IMLA executive director Peter Williams says: “In the current uncertain market, lenders’ focus is expected to be more on mainstream and buy to let but, not least because underlying demand remains sound, we are not seeing a meltdown of the selfcert and adverse sectors.”

“Lenders are repricing and may be pulling back slightly but still expect to write significant business volumes. Self-cert and adverse accounts for about 40 per cent of our respondents’ business and there is no sign the proportion will fall to any significant degree.”


Former Tory deputy chairman joins Tenet

A former Conservative Party deputy chairman has been appointed non-executive chairman at Tenet Group.Lord Hodgson of Astley Abbotts was a front-bench spokesman on trade and industry from 2003 to 2006 and deputy chairman from 1997 to 2000.In 1979, he started Granville, a specialist investment banking business which was sold to a US investment bank in […]

Bright ideas are shining

Rensburg and Skandia’s UK best ideas vehicles have recorded top-quartile performance since their launches in autumn 2006.Rensburg’s UK manager focus trust reached its one-year mark on Tuesday, with the portfolio 28th out of 281 funds in the UK All Companies sector since launch, while Skandia’s version is 22nd out of 283 since its launch in […]

President Bush offers measures to help US sub-prime homeowners

US president George Bush announced a range of measures last week in a bid to help American homeowners meet mortgage payments following the recent US sub-prime crash.This comes as Federal Reserve chief Ben Bernanke pledged to shelter the US economy from the turmoil in the world markets, hinting that a rate cut might be on […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]


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