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First And Last

Mehrdad Yousefi, head of intermediary mortgages, A&L

In the late 1980s I became the proud owner of my first home. It was a tiny one-

bedroom flat in Eastbourne which I managed to buy with a 95% Barclays mortgage, having saved a deposit of just over 3,000.

I still remember when my mortgage rate went up to 15.4% in 1989 and I had no spare cash once I’d paid it each month.

In the early 1990s I moved to London with Alliance & Leicester and at the time chose to rent a two-bedroom flat in Kensington Park Road.

Since then, although I now work at A&L’s head office in Leicestershire, I’ve moved back to Eastbourne. My current home is an elegant terraced house. I bought it with a staff mortgage but in August 2002 I switched to a short-term fixed rate.

My last mortgage could be the one I’m about to take out to buy a property in France – a variable rate Euro deal.


Linden respond to government report

Philip Davies, chief executive of Linden Homes, says the Governmentmust take some blame for the growing prominence of buy to let investors. highlighted in the recently released report.The government report ‘Affordability and the Supply of Housing’ says the investors are “distoring local housing markets.”Davies says: “The growing army of private landlords criticised in this report […]

JEREZ 2006: No decrease in fees says FSA

Speaking at the Mortgage Summit in Jerez today, Michael Lord, head of mortgage and credit unions at the Financial Services Authority, says there will be no decrease in broker fees until its goals are met.Lord says that despite regulation costing firms more and the FSA working more closely with trade bodies, there will no immediate […]

Auto firms unveil finance deals

BMW Financial Services and Money by Mini are launching several personal finance product ranges including house insurance.

Industry’s first aggregated new business tracking service goes live

The business tracking service from the Exchange, owners of the Exweb adviser portal. is now live.12 firms of advisers are currently using the new service in a live environment as part of a gradual roll-out. The full launch, which will make it available to all participating Exweb users, will begin in the next couple of […]

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Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.


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