Ahead of its AIM flotation, Elephant Loans & Mortgages says the float is oversubscribed.As of November 17, the company say over 21 million shares had been sold at 3p per share. This represents 10.34% of the issued share capital of the company immediately after placing.
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From Andrew Brownlie
Mortgage Strategy has learned that MGM Assurance, provider of specialist financial services, has dramatically reduced its network by terminating the contacts of an estimated 60 agents. An industry source says MGM has decided to retain an alleged 20 to 30 of its larger firms that generate a lot of life businesses, but is terminating the […]
Companies that advertise sub-prime products on the internet could be in the firing line from the Financial Services Authority for failing to comply with regulations. Speaking at the Mortgage Business Expo at Earls Court in London, Chris Atkinson, manager of the communications and strategy team for financial promotions at the FSA, warned it is currently […]
The industry has mixed feelings about the government’s decision to make Home Information Packs compulsory from June 1 2007. The Office of the Deputy Prime Minister decided on the date last Thursday but not everyone welcomes the timing. The Council of Mortgage Lenders is disappointed and says the timing risks disrupting the market during the […]
The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.
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