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BUDGET 2008: Darling says government was right over NR

Chancellor Alistair Darling has claimed the Treasury was right to guarantee savers’ deposits in Northern Rock last year.

In today’s Budget speech, Darling also says the government was also correct in granting the lender of last resort facility from the Bank of England.

He claims the move helped to restore confidence in the banking sector.


Optoma apologises to brokers for disruption

Andrew Seymour, managing director of Optoma Broker Solutions, has iss-ued brokers with an apology in advance for any inconvenience that may be caused by the firm’s reorganisation.Optoma is in the throes of outsourcing its sales and underwriting business to Huntingdon and is also preparing to roll out a new IT platform.Seymour says that the reorganisation […]

Cops want broker registration

A police report into mortgage fraud has called on the Financial Services Authority to individually register the UK’s estimated 40,000 mortgage brokers. The Association of Chief Police Officers made the call as part of its look at the growing problem of mortgage fraud. Richard Farr, director of the Association of Mortgage Intermediaries, says: “Everybody backs […]

BUDGET 2008: Darling calls for long-term fixed choice

House buyers need a greater choice of long-term fixed rate mortgages, says Chancellor Alistair Darling.He wants greater long-term fixed rate deal choice, including 10, 15 and 20-year deals.He referred to research, which he claims reveals that long-term fixed rate mortgages can reduce some of the risks of taking out a mortgage, especially for first-time buyers […]


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