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Brokers oppose AVM premiums

Some 69% of brokers say there should be no premium charged for the use of automated valuation models.

In a survey by BM Solutions, the reactions of over 200 brokers to AVMs was documented, with two-thirds slamming the premium charge on them. And 86% of brokers believe consumers should be given a choice between AVMs, standard lender valuations, home buyer reports and full structural surveys. Iain Williamson, head of key accounts at BM Solutions, says: “This shows brokers believe borrowers should be offered a choice. AtBM Solutions they get that choice as well as a fairly-priced AVM.”


PACKAGING SUMMIT 2007: New lenders accused of pushing credit limits too far

New lenders have been criticised for pushing credit limits in an attempt to gain ground in a saturated market.On the first day of Mortgage Strategy’s Packaging Summit in Nice, France, members of an expert panel warned about the dangers of some of the products offered by new lenders.Peter Beaumont, deputy chief executive of Merill Lynch’s […]

Brokers could ride remortgaging wave

Even after last week’s surprise increase in interest rates, many commentators believe the Monetary Policy Committee’s work is not yet done. They say that rates may have to rise to at least 5.5% to keep inflation under control.

Inspector Morse prompts Oxford house boom

House prices in Oxford have outstripped the regional and national average since the television series Inspector Morse first aired 20 years ago, reveals new research.The research, undertaken by Halifax, shows the average house price in Oxford is now 304,467 – an increase of 388% compared with the average figure of 62,444 in 1986 – the […]

Swift release fixed products for RAMP

Swift has released new two and three-year fixed rates that are exclusively available to RAMP members. The fixed rates are available for clients that have any level of arrears and CCJs. John Rice, managing director of RAMP, says: Thanks to Swifts focus on individual underwriting carried out by real people and not machines, they are […]

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Company sick pay – new findings

Research by insurer LV= suggests that some 11 million employees in the UK have no company-paid sick leave entitlement. So if an employee from within the above grouping cannot work through illness or injury for any period of time, their only income would likely be that provided by state benefits alone.


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