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Ban called for on variable rate high income multiple products

Economist John Wriglesworth has called for a ban on high income multiple variable rate products.

Speaking at today’s Mortgage Business Expo in London, he says that while he welcomes fixed rate high income multiple products he warns that variable rate options pose a “dangerous” and “unacceptable” risk to consumers.

Wriglesworth says: “Variable rates with high income multiples are dangerous. What worries me about variable rates is that you can not insure yourself against interest rates going up and doubling repayments can be hurtful.”

Lenders are relaxing their lending criteria and you might say it is going too far. With fixed rates high income mulitples is fine.

He adds: “With variable rates the exposure to risk is unacceptable and should be banned.”


NHER offers training for energy assessors

With the June 2007 deadline for the introduction of Home Information Packs fast approaching, National Home Energy Rating has launched a training scheme for Energy Performance Certificate assessors. NHER’s domestic energy assessor programme includes eight days of intensive training on construction, thermal physics and energy efficiency. Austin Baggett, head of the NHER scheme, says: “Recently […]

Almost half of advisers to incorporate REITs into portfolios

44% of financial advisers plan to incorporate UK REITs into their investment clients portfolios when they launch in January 2007. This is an increase of 10% in the past six months, reflecting a growing understanding and appetite for REITs.The results are part of a larger independent research project commissioned by and carried out by […]

Commercial cover launched

Select & Protect has launched a commercial insurance proposition called Bonus Underwriter. The range, underwritten by Norwich Union, enhances its introducer status offering.

piggy, cash, money

A tailored approach to protection

By Ian Smart, Product Architect, Royal London In an ideal world, clients would be able to afford as much protection cover as they wanted, but few would describe current times as anything approaching ideal. But this doesn’t mean that they have to indulge in an either/or decision that results in missing out on some essential […]


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