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Three year stepped discount rate business winner, says Genesis

Genesis Home Loans says business levels are up on its Planets & Moons range of products as a result of its exclusive three year stepped discount rate.

The company says the increased volumes generated by the range are driving Genesis towards an all-time record for the number of applications submitted in a year.

Launched just two months ago, the exclusive 3 year discount can be used across the whole Planets & Moons sub-prime range and offers a 1.75% discount until 2005 followed by a 1.50% discount until 2006 and a final 1% discount until 2007.

The Planets & Moons range offers 11 separate schemes offering mortgage facilities for those with previous adverse credit problems including, CCJs, defaults, arrears, bankruptcy, IVA and even past repossessions.

Full status schemes are offered up to 95% LTV and self-certification offers facilities up to 85% LTV.

John Lee, head of sales & marketing for Genesis Home Loans, says: “The volumes of business received on this rate has contributed towards two outstanding months for new business and looks set to continue in pushing the company towards a record year”.

The Genesis Home Loans product range also includes the Gemstones range &#45 including Pearl,

Jade and Onyx &#45 the Spacecraft range &#45 including Freedom, Pioneer, Pathfinder and Prospector

&#45 and the Metals & Elements range.


Solent launches Nelson Homeloans

Solent Mortgage Services has launched its sixth branded lending proposition, Nelson Homeloans. Nelson Homeloans will give brokers access to Rooftop Mortgages&#39 product range, while SMS will have control over the mortgage process. Key benefits include 2% discounts for one year on all products and high LTVs for remortgage and self-cert. Ian Balfour, sales and marketing […]

Sun Bank defends changes

Portman&#39s intermediary lender Sun Bank has defended changes made to its self-certification products saying they are reflective of worrying “issues” in the market. As well as reducing LTV from 85% to 75% for the self-employed and 70% for the employed, first-time buyers are now excluded from the self-cert products. Matthew Wyles, group development director at […]

Plans for housing &#39fairness&#39

The Queen has announced to Parliament that legislation will be introduced to create a fairer housing market and protect vulnerable consumers. In the Queen&#39s Speech, delivered last Wednesday, she said: “My government is committed to improving the quality of people&#39s day to day lives. Legislation will be introduced that will help to create a fairer […]

FSA fines St James&#39s Place £250,000

The Financial Services Authority has fined St. James&#39s Place UK, St. James&#39s Place International and the St. James&#39s Place Unit Trust Group a total of £250,000 for serious monitoring and record keeping inadequacies. The failings exposed investors to the risk of surrendering existing investment contracts and committing money to new investment contracts in circumstances where […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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