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£51m in mortgage drawdowns for Prudential

Prudential’s UK insurance operations has reported £51m in mortgage drawdowns during Q1 2008.

Its Interim Management Statement says that Prudential’s lifetime mortgage sales continued their upward trend.

It says the level of mortgage drawdowns were up 50% on Q1 last year.

It adds: “Performance in Q1 was underpinned by continued strong sales through intermediaries, which were up 43% to £33m, complemented by sales through Prudential’s face-to-face specialist consultants increasing by 61% over the same period.”


Norwich Union beefs up LTV rates

The equity release provider is enhancing its lifetime mortgage product range by increasing its LTV on all fixed rate and providing cash reserve option.

Cheque please

The Bank of England will inject £50bn into the mortgage market to tackle the credit crunch but it could be a case of too little, too late, says Christine Toner

Bond plan a case of too little, too late

For some time I’ve been calling for the tripartite authority to take decisive action to address the liquidity crisis engulfing the market and it has finally made its move.

Brokers lost in the retention maze

Some lenders are not being straight with borrowers with regard to their retention deals and this is leading to situations in which brokers are working for no reward, says Mark Harris


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