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A&L reports £1bn mortgage lending

Alliance & Leicester has reported prime residential net mortgage lending was around £1bn in Q1 2007 giving it a 3.9% share of the UK market.

This is higher than its 3.5% share of UK mortgage balances.

Its unsecured personal loan gross advances were £802m in the first three months of 2007, higher than in the same period in 2006.

Unsecured loan balances at the end of March 2007 were £3.8bn.

A&L says its mortgage asset quality remains excellent, with the proportion of accounts in arrears remaining similar to that at the end of 2006.


Fraud arrest may hit Spanish loans

One of Spain’s largest banks is believed to have frozen non-residential mortgage applications after one of its introducers was arrested for mortgage fraud.The Spanish authorities raided the offices of a brokerage based on the Costa Blanca and arrested the proprietor on the grounds of providing false documentation to banks.As a result Caja Mediterraneo, the bank […]

Review tax laws, says NLA

The National Landlords Association is urging the government to review taxation in the private rented sector following reports that Revenue & Customs is targeting 80,000 buy-to-let landlords who may have claimed too much tax relief. The NLA says that because the government department al-ready has the rental sector in its sights and given its importance […]

Do you trust your bank when it comes to monitoring your finances?

Two weeks ago, lenders came under fire after Labour MP Jim Cousins accused them of making too many errors with borrowers’ repayments. Auditing firm BankCheck scrutinised 30 mortgage accounts and found they all contained mistakes in the bank or building society’s favour.

So this week Mortgage Strategy asks: Do you trust your bank when it comes to monitoring your finances?

Beacon appoints compliance head

Beacon Group has appointed Bruce Collins as group compliance manager. He most recently worked as head of compliance at MD Nationwide.

What attendees thought of the LendInvest Property Development Academy

LendInvest ran its first Property Development Academy in London last month. Attendees from all over the UK gathered to learn how to better equip themselves with the skills they need to grow their property development portfolios. Speakers from CBRE, Gleeds, Arcadis, Gowling, Residential Edge and AZ Urban Studio gave their insights into their respective fields […]


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