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Rabbitt resigns from Nationwide

Joe Rabbitt, formerly head of corporate intermediary relations at Nationwide, has left the firm citing family reasons. Head of sales Ian Andrew will take on Rabbitt’s duties until a successor is appointed.

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Fitch downgrades Alliance & Leicester

Fitch Ratings has downgraded Alliance & Leicester, saying the action reflects the lender’s weak access to funding compared with higher rated banks.A&L’s long term issuer default rating was cut to A+ from AA- and the short term IDR to F1 from F1+. The outlook for A&L’s long term IDR was changed to stable.Fitch says the […]

Sesame offers consumer equity release guide

Sesame has created a consumer guide to help advisers provide the facts about equity release to their clients. The guide has been produced to ensure that financial advisers and their clients have the information they need before making any decisions, which is particularly important in a complex and emotive area such as equity release.Equity release […]

Showing the value of home reversions

An important requirement of the Financial Services Authority’s MCOB rules is that brokers should consider with their clients the effects releasing equity may have on their estates when they die.

Fitch says tightened criteria may affect RMBS

Fitch Ratings is warning that tightening lending criteria could have a negative impact on residential mortgage-backed securities.The agency has stipulated however that the developments are not likely to have any immediate impact on UK RMBS ratings.Fitch says the liquidity crisis is starting to have an impact on the mainstream mortgage market with conforming lenders tightening […]

How to cut mortgage fraud risk

Recent figures from Financial Fraud Action UK revealed a financial scam was committed, on average, every 15 seconds during the first six months of 2016, says Roy Armitage, head of credit at Lendinvest. That represents a 53 per cent rise year-on-year, with these scams coming in all shapes and sizes. Furthermore, a staggering 56 per cent of […]

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