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Connells hits out at BoE plan

Connells Survey & Valuation has warned that the Bank of England’s £50bn cash injection will have little impact on the high street.

Ross Bowen, managing director of Connells Survey & Valuations, says that it runs the risk of making little or no difference to the average first-time buyer.

He warns that it’s unlikely to increase the supply of mortgages currently available to borrowers.

He says: “By swapping these assets for government bonds, we should see retail banks more willing to lend to each other.

“But it’s worth remembering that the Bank of England’s proposals are meant to shift a backlog of debt from mortgage lenders’ balance sheets and get the money markets moving again.

“This is unlikely to enable lenders to ease their significantly tightened criteria. As a result, the man on the street is unlikely to see much benefit.

“Bowen praises the government intervention but recognises the need to a LIBOR review.”

He adds: “The most we can hope for is that LIBOR rates come down allowing mortgage lenders to lower rates for borrowers.

“Having finally acknowledged that the problems in the market are significant, the government must continue to act to rebuild confidence.”


TFC sees 30% increase in business

TFC Homeloans, part of the Orbiter Group, has seen an increase of business of around 30% in the last month and its application volumes are now up nearly 90% since December 2007. TFC has also been boosted by an independent survey showing it is finding favour with brokers. Recent figures from NMG Financial Services Consulting’s […]

Good news for TFC Homeloans

TFC Homeloans reports an increase in business volumes of around 30% in the past month. The lender, part of the Orbiter Group, says applications have risen by nearly 90% since December 2007.

Em-commercial hires commercial team

Em-commercial has appointed commercial lending and administration specialists to underpin its commitment to the commercial lending arena.

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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