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Rock around the clock

I have not been involved in arranging mortgages for my clients for a number of years now but I could not help but notice the problems being encountered by Northern Rock and that it has approached the Bank of England for a loan.

I trust that the Bank of England will charge Northern Rock a very large arrangement fee, impose massive exit penalties and tie them into the loan for the next 10 years?

What goes around comes around.

Paul Spires
Certified financial planner


GMAC-RFC to cap self-cert and new build products at 75 per cent LTV

GMAC-RFC has communicated to its packaging partners that it will be capping loan to value at 75 per cent on its self-cert and new build products.Packagers have been emailed details about the criteria changes ahead of the new criteria being implemented this Friday,Corporate relations manager Julie Gaskin says it will not changing rates.The capping of […]

Harrison says FSA loaded RDR bases

Positive Solutions outgoing executive chairman David Harrison has slammed the FSA, accusing it of asking loaded questions in the retail distribution review.At Positive Solutions’ annual partner forum in Birmingham last week, Harrison also hit out at the Chartered Insurance Institute.He said: “It is no good asking members of professional societies if they think professionalism is […]

Amber Homeloans withdraws 95 per cent LTV near prime and self cert

Amber Homeloans has announced that it will be withdrawing its 95 per cent loan to value near prime and self cert prime products at close of business this Wednesday.Maximum LTV on near prime full status will now be restricted to 90 per cent LTV.These products will be removed from Amber’s online DIP and KFI, and […]

Pensions reach breaking point

Leading pension consultants Malcolm Small and Ros Altmann say the UK pensions sector is no longer fit for purpose and is in urgent need of a radical overhaul.Small, editor of The Pensions Report 2007 due for release in October, says this year’s report shows the pension crisis is steadily worsening, with ever-increasing numbers of consumers […]

The Investment Clock: Keep calm and Macron!

Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]


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