From Simon BaumI write with regard to the comment piece by Keith Butler in last week’s issue (Mortgage Strategy December 5) entitled ‘Affordability figures must add up’. I started reading what I thought was a general piece on affordability but found it soon descended into being a misleading and inaccurate portrayal of Alliance & Leicester, its mortgage lending and its affordability-based lending model. For example, his comment on the extra costs of having a child and how these are calculated is incorrect. In fact, the amount that we calculate a child increases monthly outgoings varies according to a number of factors including income, geography and the number of in the family. Alliance & Leicester introduced affordability-based lending this September and since then we have received great support and feedback from brokers. We believe affordability-based lending is a more responsible way to approach lending because it is based on customers’ personal circumstances including individual monthly spending patterns and disposable income, rather than income multiples. Certainly it offers more flexibility to those who have little or no debt. But it also means we lend less to those who have large loan commitments. Our recent announcement to the City shows we have a healthy mortgage business built on responsible foundations.
Rapid development and deployment of IT solutions is important, especially when starting out in today’s mortgage market, and Home of Choice provides a good example, says Frank Eve
Paymentcare has welcomed the announcement by The Office of Fair Trading that it will be launching a probe into the selling of Payment Protection Insurance.Shane Craig, managing director of Paymentcare, says: We have long campaigned for an OFT investigation into the selling of PPI by the major High Street providers.Consumers have for far too long […]
Platform has launched of a range of sub-prime, two-year fixed rates designed for borrowers who have had credit difficulties in the past. The rates are lower that standard products by up to 0.50% to make it easier for borrowers to budget and repair their credit histories. The fixed rates are available across Platform’s sub-prime range […]
Platform has launched of a range of sub-prime two-year fixed rates designed for borrowers who have had credit difficulties in the past. The product rates are lower that standard products available by up to 0.50% to make it easier for borrowers to budget and repair their credit history. The fixed rates are available across Platforms […]
By Robin Geffen, Fund Manager and CEO
Internet giant Alibaba is exactly the type of entrepreneurial company that the high-conviction, top-performing Neptune Global Alpha Fund seeks to invest in. Established just 14 years ago in an apartment in Hangzhou, today Alibaba is larger than Amazon and eBay put together and is challenging some of the most powerful internet companies in the world…
The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.
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