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A&L results reveal dip in unsecured loans

The latest annual results from Alliance & Leicester have revealed a drop in unsecured loans.

Unsecured personal loan gross advances were 565m in the first quarter of 2006 compared to 890m in the same period last year. However, the bank says unsecured loan balances remained stable compared to the end of 2005 at 3.5bn. Sales of its new secured loan product are not expected to make a material contribution in the first half of 2006.

It has continued to focus on the prime residential mortgage market.

A spokesman says: “Our gross lending in the first quarter of 2006 was 3.2bn, a market share of 4.3%, and net lending was 1.4bn, a market share of 6.3%.”
d to over 5.8bn at the end of March 2006 (December 2005: 5.5bn).”


MI enhances B2L criteria

Mortgage Intelligence has reduced the rental calculation on a three-year fixed rate buy-to-let product from Mortgage Express from 130% to 125%. The MEX buy-to-let product has a fixed rate of 5.34% until June 30 2009. It features a 1% completion fee which can be added to the loan and an early repayment charge set at […]

InterBay fills marketing role

InterBay Funding has appointed Anna Bennett as marketing manager, heading the US commercial lender’s UK marketing effort.

Mortgage 2000’s sourcing wizard goes whole of market

Mortgage 2000 is offers its sub-prime sourcing wizard to the entire mortgage market. It claims the new system rivals the competition by not limiting the advanced sourcing capability to a predetermined panel of sub-prime lenders.Instead Encore enables intermediaries to source the whole of the market with a high degree of accuracy against exact qualifying rules. […]

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