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Demand for traded endowments rises

The number of traded endowment policies purchased in 2006 more than doubled compared with the previous year, says the Association of Policy Market Makers. Brian Goldstein, chairman of APMM, says: “Last year, market-makers saw record levels of demand for TEPs. It looks like 2007 will be even more successful.”

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I must have provoked C&G’s wrath by asking for updates

In light of the FSA’s Treating Customers Fairly initiative, might I also suggest a Treating Brokers Fairly rule? If there was such an initiative, Cheltenham & Gloucester would be at the top of my list for investigation. Five weeks after applying to C&G (26% LTV and no further documents or information needed) an offer emerged. […]

AMI predicts the regulation of second charge mortgages

The EU directive on harmonised mortgage regulation in member states could force the regulation of second charge mortgages, predicts Chris Cummings, director general of the Association of Mortgage Intermediaries.Speaking at a seminar at Financial Services Scotland in Glasgow, Andrew Turrell, manager in the mortgage and credit unions department of the Financial Services Authority refused to […]

Woolwich launches lifetime tracker

Woolwich has launched a tracker guaranteed to stay 0.18% above the Bank of England base rate for life, with no arrangement and no redemption penalties.The launch coincides with a new TV advertising campaign as well as the release of a 10-year fix at 5.28%.Andy Gray, head of mortgages for Woolwich, says: The improvement in the […]

Packagers must do their own thing

There was a lot of speculation that 2006 would see the demise of packagers. Most people in the industry would have to agree that this proved to be far from the case.

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