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Rooftop silent on Bear Stearns sale

Rooftop Mortgages refuses to comment on the recent sale of parent company Bear Stearns.

The sale followed a week of rumours about the firm’s liquidity that ended in a substantial loan being made by the US Federal Reserve and JP Morgan Chase.

JP Morgan has since bought the bank, the US’ second-largest mortgage lender, for $2 a share – a 97.5% discount on their previous value.

One pundit says: “On the face of it, this doesn’t seem encouraging for Bear Stearns’ UK lender, Rooftop.

“JP Morgan is likely to make a number of Bear Stearns employees redundant in areas where businesses overlap, but Rooftop could survive the cull be-cause JP Morgan doesn’t have a UK mortgage arm.”


Punters bet on a strong housing market

Cantor Spreadfair, the betting exchange, says punters are predicting a stronger housing market.Despite the ongoing liquidity crisis in the UK starting to have a knock-on impact on the housing market, Cantor’s clients are bullish about future house prices.Betters currently predict that the average house price will be £187,000 nine months down the line in December […]

Reader interest piqued by loan guarantee deal

some 61% of Mortgage Strategy Online readers will explore the government-backed Small Firms Loan Guarantee scheme intended to help com- panies survive the market downturn. The remaining 39% won’t bother looking at the funds.This week, Mortgage Strategy asks: “Will you encourage clients to consider long-term fixed rate mortgages?”

CML slams police fraud figures

The Council of Mortgage Lenders last week slammed a police report for failing to make the case that mortgage fraud is now worth £700m. While the CML says it welcomes the Association of Chief Police Officers’ report entitled Safe as houses? Organised mortgage fraud in the UK, it says ACPO’s £700m figure does not stack […]

TFC Homeloans offers Sesame free legals

TFC Homeloans is offering Sesame members a £99 application fee and free legals on all remortgage applications submitted online and below £1m. They are only available on standard remortgages in England and WalesThe announcement follows the news that TFC Homeloans, which is part of the Orbiter Group, is one of only seven packagers to remain […]

piggy, cash, money

A tailored approach to protection

By Ian Smart, Product Architect, Royal London In an ideal world, clients would be able to afford as much protection cover as they wanted, but few would describe current times as anything approaching ideal. But this doesn’t mean that they have to indulge in an either/or decision that results in missing out on some essential […]


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