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igroup results close to £1bn for third quarter

Igroup gross new originations topped almost £1bn in the third quarter of 2003.

When compared with the equivalent period of trading in 2002, the number of accounts written rose by 21% and their total value by 23%.

The company says this puts it on track to break through the £3.5bn new lending figure by the end of the year.

Colin Sanders, chief executive officer at igroup, says: “Third quarter results confirm igroup&#39s continuing appeal as a responsible provider and servicer of specialist mortgage products.

“igroup&#39s challenge is to ensure it remains a first choice provider for many of the introducers working hard to satisfy continuing consumer demand. To do this the company must ensure it meets and exceed the expectations of an industry and public ever more demanding of high business and regulatory compliance standards.

“The company ignores this at its peril. Quite simply, therefore, standing still is not an option. Those who currently work with the company know it is not the igroup way and it expects its full year results and those for 2004 to reflect this.”


B&B increases SVR by 0.25%

Bradford & Bingley is to increase its standard variable rate by 0.25%, following the Bank of England&#39s base rate rise. Its SVR mortgage rate for both new and existing borrowers will increase from 5.54% to 5.79%, effective from Sunday November 23 2003.

House prices rise over 10% from 2002

The average house price in England and Wales is now £161,665 &#45 over £10% more than a year ago. The Land Registry&#39s third quarter property price report shows that the average price has increased by 10.62% from £146,150 in 2002 to £161,665 in 2003. The report also reveals that the volume of sales has decreased […]

Supermarkets to become force in financial services

Supermarket banking is set to become a “real force in financial services”, a report from Sainsbury&#39s Bank has revealed. Compiled by IBM Business Consulting Service, the report shows that with supermarket banks already having around 5.8 million customers, this figure could rise to 14.43 million by 2008. This would be an increase of 149% over […]

Give estate agents a taste of their own medicine

From Jim GillespieI sympathise with Terry Phillips (Mortgage Strategy October 27) and his experience at the hands of unscrupulous local estate agents. No doubt we have all come across similar examples of this bad practice in our own towns. In fact, in 2000 I was so fed up that I decided to do something about […]


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