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Interbay appoints new BDM

Interbay Commercial has appointed Davey Gurm (pictured) as its new senior BDM for London.

Gurm joins from Landbay where he was a BDM for just over a year. Prior to this he held positions at Foundation Home Loans and the Bank of Ireland.

InterBay Commercial head of sales Darrell Walker comments: “Gurm will be a great addition to the team, bringing a deep industry knowledge and wealth of contacts in the London region.

“His appointment will help us to enhance our presence and strengthen relationships with this market.

“I am confident his drive and people centric approach will be an asset.”

Gurm adds: “Joining a strong brand such as InterBay Commercial was foremost in my mind when seeking a new challenge.

“I am looking forward to continuing lasting partnerships with my brokers.”


Newcastle appoints new non-executive director

Newcastle Building Society has appointed Adam Bennett (pictured) to its board as non-executive director and to its group risk committee. Bennett spent 36 years at business law firm Addleshaw Goddard, where he specialised in advising building societies and other financial mutuals as well as advising on corporate governance. He has also advised on the powers […]

Govt’s £5bn loan book sale will “exacerbate mortgage prisoner woes”

The government’s £4.9bn sale of former Northern Rock loans to Citi bank will “exacerbate” the problem of mortgage prisoners and “make a mockery” of efforts to help this vulnerable group, according to Coreco’s Andrew Montlake. The sale announced by the Chancellor Philip Hammond today comes exactly a week after the Financial Conduct Authority revealed plans […]

lifetime lease purchases

What is a lifetime lease purchase?

Lifetime lease purchase deals involve raising finance but not on current properties. Rather, they are taken out when consumers move home. They are called lifetime lease schemes. Although not identical to sell-and-rent-back options, they are unregulated too. Lifetime leases are designed for clients who want to move but either cannot afford to or don’t want […]


Bank of England base rate held at 0.75%

The Bank of England’s monetary policy committee has voted unanimously to keep the base rate at 0.75 per cent. The rate has stayed at this level since it was raised from 0.50 per cent in early August last year. The meeting minutes show that the committee believes that the softer growth seen both domestically and […]

Japan Economic Insight

James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading


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