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Edeus completes £150m loan sale

Edeus has completed its fifth whole loan sale, worth £150m, with a mystery new partner.

The trade comprised a mix of self-cert, buy-to-let, and adverse lending.

Edeus has declined to name the partner, but says it is “prolific”.

Richard Monahan, head of asset management at edeus, says: “I am delighted to have completed a trade with another new purchaser of edeus collateral.

“This sale further confirms edeus’ ability to originate asset and successfully create liquidity with a diverse range of funding partners.”


Offset growth accelerating

Offset lending growth has doubled in the past year, acc-ording to the Council of Mortgage Lenders.The trade body reports that 170,000 offset mortgages were taken out in 2006 worth £29.3bn – equivalent to 7% of all new lending. It says that year-on-year growth of offset mortgages between Ap-ril 2006 and March 2007 rose to 49% […]

PPI cancellation period extended from 14 to 30 days

The cancellation period for payment protection insurance will be extended from 14 days to 30 days as part of a radical shake up of general insurance rules by the Financial Services Authority.The change is one of a number of changes proposed in a consultation paper today to the sale of protection products to improve sales […]

Rents continue to rise, says Paragon

Average rents are continuing to rise, the latest data from Paragon Mortgages reveals.The lender says average annual rents has risen every month since November 2006, to reach £10,702 in May. This is 1% higher than April’s figure of £10,591, and up 9.7% on November’s figure of £9,665. John Heron, managing director of Paragon Mortgages, says: […]

Sub-prime and self-cert vital to packagers, says TMB

Sub-prime and self-cert mortgages are vital to the future business of packagers, research by The Mortgage Business reveals.The research surveyed packagers about which sectors are the most important to their business and found that nearly six out of 10 of respondents saw sub-prime mortgages as a key area, while 54% saw self-cert as most important […]


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