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Website slams chancellor’s Open Market HomeBuy focus has dismissed chancellor Alistair Darling’s focus on Open Market HomeBuy products in yesterday’s Budget as a huge disappointment.

Louise Cuming, head of mortgages for the price comparison site, considers equity share mortgages as a good option in principle but adds that they benefit so few borrowers that they are useless in breathing life into the stagnating mortgage market.

She adds that the market is being hampered by the lack of product choice under the Open Market HomeBuy system.

She says: “In order for these products to become a viable option, the mortgage industry needs to welcome and accept them.

“The application process and legal administration has to become more straightforward and the number of properties available under the scheme must be extended.”


Enterprise to launch site range

Enterprise Group has announced it will launch a suite of websites. Enterprise Finance, its secured, bridging and commercial arm, launched a website last week and websites for its Partners, Homeloans and Broker Services businesses are due shortly.

Money Partners mulls redundancies

Money Partners staff are at risk of redundancy as the lender strives to realign the business with the current market conditions.


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