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AMI welcomes BoE loan facility

The Association of Mortgage Intermediaries has welcomed the Bank of England’s move to extend its loan facility.

AMI believes the £10bn offer of three-month loans against a wider than usual range of collateral may help to alleviate current problems in the banking industry.

Richard Farr, director of AMI, says: “Although not a long-term solution to the liquidity crisis we agree with the bank’s view that the continuing elevated pressures in short-term funding markets are very real, are causing significant pain to the lending industry and are having a subsequent knock on effect on the housing market.”

Farr says AMI is encouraging the Bank of England to consider increasing the tranche that is to be released in April as the trade body expects the first tranche to be oversubscribed.

He adds: “We would also like to see the bank support the UK in providing much needed liquidity as their counter parts have done significantly in North America and Europe.”


We did not cry crocodile tears over LMS’ demise

In response to Chris Gardner’s recent letter, I’d like Mortgage Strategy readers to know that KGB Packaging has delivered genuine benefits to the brokers who approached us for help follow-ing the collapse of LMS Packaging.

BUDGET 2008: Chancellor increases booze tax

The chancellor has pledged to increase taxes on alcohol by 2% above inflation for the next four years. Tax on beer will increase 4p a pint while 14p will be added to a bottle of wine and 55p to bottles of spirit.

MPLC limits self-cert deals

Mortgages PLC is withdrawing its self-cert facility for employed applicants and increasing its initial mortgage and reversion rates by 0.25%. The changes will take effect from tomorrow.

CML unveils equity release research

The Council of Mortgage Lenders has released research examining the slowed growth of the equity release market in the UK.The report, Please release me! A review of the equity release market in the UK, its potential and consumer expectations, considers the current state and future direction of the equity release market in the UK. While […]

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Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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