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GEMHL reassures brokers

GE Money Home Lending has confirmed it is here to stay and has no intentions of exiting the specialist mortgage market, after dramatically increasing its rates yesterday.

A spokesman for GE Money Home Lending, says: “I can categorically confirm that we have no intention of withdrawing from the market.

“Yesterdays rate change was all about our reaction to the turmoil in the market. From our point of view, we have a very powerful franchise which we are keen to protect long-term, we see ourselves as a long-term player in the specialist market in the UK.

“Being a long-term player in the market doesn’t always mean you have to have your foot heavily on the accelerator in terms of volume. We want to be around long-term we are investing heavily in our technology so we are ready to hit the ground running when the market comes back.”


Merger sees mixed reaction from industry pundits

Rob Clifford, chief executive of mortgageforce”It’s a shame the Cheshire and the Derbyshire have gone but Nationwide is a class act and if any mutuals are seeking consolidation it is an obvious and sensible choice.”

Lloyds’ New Baby

Although there’s still no official name for the new mega-lender formed by the takeover of HBOS by Lloyds TSB, cyber squatters have been quick to see an opportunity.

Market Watch 22/09/08

Swaps fell again last week. Most of the falls seemed to follow the weekend’s announcements about Lehman Brothers and Merrill Lynch.

Call to extend shorting ban

The Real Estate Investment Trust Association is calling on the Financial Services Authority to extend the short selling ban to include the commercial property and real estate sector.


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