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Scarborough buys CI business

Scarborough has bought Portman’s Guernsey-based offshore deposit-taking business Portman Channel Islands. PCI has a deposit book of around £600m and about 8,000 customers. PCI will be rebranded and trade as Scarborough Channel Islands.

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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.”

DCLG publishes January house price index

The mix-adjusted average house price in the UK in January 2007 stood at £205,286, up from £201,090 in December 2006, government figures reveal. The Department of Communities and Local Government’s house price index for January shows UK annual house price inflation in January 2007 was 10.9%, up from 9.9% in December 2006. Annual house price […]

Small offenders seem to fly under the regulator’s radar

When is a mortgage adviser’s advert of no interest to the Financial Services Authority? When the ad is placed by a one-man band in a local newspaper. Since August 2005 I have, as re-quested by the FSA, highlighted to its financial promotions department that a local joker has been continually ig-noring the basic requirements of […]

Edeus launches 90% B2L deal

Edeus has launched a buy-to-let product available up to 90% LTV at 100% rental coverage based on pay rate which is 0.74% above base rate for two years. There is an 1.5% arrangement fee and early repayment charges are 5% in years one and two.

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