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Bankruptcies and prices both rise

A total of 33,945 people have been served with bankruptcy orders over the past year – a rise of 13% over the previous year, latest government figures reveal this month.

Personal bankruptcies in the third quarter of 2003 are almost 17% higher than in the third quarter of 2002.

The figures also show that the average house price in England and Wales is now £161,665 – over 10% more than a year ago. The Land Registry&#39s third quarter property price report shows that the average house price has increased by 10.62% from £146,150 in 2002 to £161,665 in 2003. The report reveals that the volume of sales has decreased by 11.44% from 328,184 in 2002 to 290,637 this year.

The figures come just days after the Liberal Democrats released figures showing individual personal debt has leapt by 50% since 1997.


igroup appoints director of originations

igroup has appointment of Noreen Whyte as director of originations. As part of her role she will have responsibility for the front-end processing of all new business received from igroup&#39s expanding network of introducers. As director of originations, Whyte joins igroup&#39s senior management team and reports to Peter Brennan, chief operating officer. Whyte has been […]

Brokers at crossroads on routes to regulation

Just over half of all brokers plan to become directly authorised whereas 45% want to take the appointed representative route, research from The Mortgage Business reveals. The survey also found three out of 10 brokers are undecided about what kind of panel they would like to operate and of these just over a third will […]

Chelsea is not joining the rush to change rates

From Jeremy HicksI&#39m sure there will be a rush of lenders changing rates following the Bank of England&#39s announcement but at the moment the Chelsea is not one of them, as incorrectly reported (Mortgage Strategy November 10). I think you have taken the detail of a rate increase from our investment press release which illustrates […]

Moneysupermarket founder named Entrepreneur of the Year founder Simon Nixon has been named Entrepreneur of the Year at the National Business Awards 2003. Described by Gordon Brown as the “Business Oscars” , the awards were sponsored by Orange and held at London&#39s Grosvenor House Hotel this week. On top of chief executive Nixon scooping the much coveted Entrepreneur of the Year […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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