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A&L pulls two-year fix

Alliance & Leicester will withdraw its 4.99% two-year fixed rate deal from close of business tomorrow.

Richard Taylor, head of mortgage products at A&L says: “Over the past few days we have seen a high demand for our 4.99% two year fixed rate product and therefore we have taken the decision to remove it from the range, in order to manage the volume of business we are receiving at present.”


Equity release set to boom

Explosive growth is imminent in the equity release sector, according to Safe Home Income Plans.This prediction comes despite a recent report from the Council of Mortgage Lenders which highlights the slow growth of the equity release market in the UK compared with the US, Australia and New Zealand.SHIP insists the UK equity release sector will […]

Former Stroud & Swindon commercial director joins M2 Financial

Former Stroud & Swindon commercial director Paul Chafer is to join M2 Financial in May.Chafer will take up the position of commercial director at the financial advice firm just after the May bank holiday weekend of May 24 and May 25.The headquarters of M2 Financial are based in Nottingham and the firm provides independent advice […]

UBS new unit to hold illiquid US real estate assets

Swiss banking giant UBS has formed a special unit to hold its illiquid US real estate assets as it reports writedowns of $19bn from the US sub-prime crisis.In Q1 UBS says it substantially reduced its real estate related positions through both valuation adjustments and significant disposals.Its also confident that the new unit should it allow […]

MPLC withdraws all fixed rate deals

Mortgages PLC has withdrawn all fixed rate products in a bid to control new business volumes.The lender, a subsidiary of Merrill Lynch, is also slashing its maximum LTVs on all products to 70% and cutting the maximum loan size to £300,000.It is pulling all self-cert and right-to-buy criteria and raising rates on all remaining products […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


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