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Moneyfacts calls for sub-prime transparency in 2007

Moneyfacts has predicted a blooming sub-prime market in 2007, but warns that customers need clearer classifications in order for them to embrace the products.

The predictions, made by a panel of moneyfacts experts, forecast more lenders entering the growing sub-prime market in 2007.

The panel also predicts a further rate rise in 2007, with 80% anticipating this will occur during Q1.

By the end of 2007, 20% of the panel expect the base rate to be 5%, while 60% predict 5.25% and 20% think it will be 5.50%.

Moneyfacts also believes a rate rise early in the new year will be the tipping point for many borrowers, and reminds consumers on a tight budget to take a look at their financial position and choose products that offer some protection against rate increases.


Bank of Mum and Dad helps a third of FTBs

Credit Action’s 2006 report has revealed that almost 38% of parents across Britain have either helped their children with a property purchase or intend to do so in the future. A quarter of these parents are contributing between £1,000 and £6,000, while 13% provide at least £20,000 in financial support.Furthermore, more than three quarters don’t […]

Gove to head homeownership taskforce

The Conservative shadow housing minister Michael Gove is to lead a special taskforce to investigate how to help first-time buyers onto the property ladder through the extension of Community Land Trusts. Gove will assemble a team of lawyers, landowners, existing CLT pioneers, planners and local government leaders to explore what the current barriers are to […]

Praxis relaunches commercial arm

Praxis has revealed it will be relaunching the commercial arm of its business.The packagers commercial team will offer advice based on the whole market, rather than a pool of lenders.Jason Rodger, business development director with Praxis Commercial, says: We are then able to place business with any commercial lender currently operating in the UK marketplace […]

C-NLIS appoints former OEA to board

The Council for the National Land Information Service has appointed the fomer Ombudsman for Estate Agents to its executive board.Stephen Carr-Smith is tasked with helping C-NLIS develop standards for the property search industry, ensuring that homebuyers are protected and receive up-to-date and authorative property search information.Imtiaz Farookhi, chairman of C-NLIS, says: We are delighted to […]

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In Focus — February 2015

Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.


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