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Southern Pacific to widen loan options

Non-status lender Southern Pacific Mortgages is revamping its mortgages in

a bid to attract a wider range of borrowers and intermediaries.

The new range features up to 80 per cent loan to valuation – an increase

from 75 per cent on previous loans. The mortgage is available for dual

self-certification for applicants wanting to self-certify income and proof

of payment history.

The new range offers self-certification for employed and self-employed

applicants and disregards county court judgments under £150 or those

satisfied over one year ago.

The acceptable total value of an applicant&#39s CCJs has been raised on a

number of schemes to between £3,000 and £5,000, depending on the

product, from £2,000.

SPM is also increasing the acceptable number of missed mortgage or rental

payments on a number of schemes as well as offering decisions on

applications within 24 hours and five-day completion.

Sales and marketing director John Prust says: “To support our commitment

to mortgage intermediaries, we have taken the opportunity to enhance our

product range to allow even more brokers to place more business with us

more easily. The changes mean our products are some of the best in the

non-standard marketplace and we fully expect brokers to take advantage of

these improvements.”


Nutt takes own flight path at Jupiter

The new manager of Jupiter&#39s income fund aims to put the waning star backin stellar companyTony Nutt denies there has been a rush of redemptions and is bemused bymedia suggestions that the fund will be aff- ected by the recent departureof chiefexecutive and founder John Duffield.He says: “Whether John is here makes no difference to […]

Jupiter served notice by three trust boards

Jupiter is facing further difficulties this week as the boards of three ofits investment trusts served notice on the company.The Split trust, dividend & growth trust and investment trust ofinvestment trusts have all secured the right to change fund manager in twoyears.The boards have cited Jupiter&#39s recent change of management and companystructure as the main […]

Guaranteed uncertainty

The earliest form of guaranteed equity products appeared around the end ofthe 1980s. Since then, there have been a considerable number ofdevelopments driven both by stockmarket conditions and by investor demands.The two main product types are designed for growth and high income.Guaranteed growth products had their heyday in the early 1990s. At thattime, they could […]

FSA Act is facing last-ditch battle in Lords

The Financial Services and Markets Act may still come under attack fromTory peers despite receiving Royal Assent last week.The legislation which underpins the FSA, may become the first major pieceof legislation to have its fine print challenged in the House of Lords.Tory peers do not rule out contesting the Act&#39s secondary legislationwhich sets out how […]

Neptune launches Japan Institutional Fund

By Chris Taylor, Investment Director, Head of Research Neptune is excited to announce the launch of the Japan Institutional Fund on 22 June, having disclosed to the market in March its intention to offer the product. The Fund will be managed by the highly-regarded Chris Taylor, Head of Research and manager of the long-running Japan Opportunities Fund. It will invest in the same underlying stocks as the Japan […]


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