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Flooding could cost insurance industry £500m

Recent floods in the North of England could cost the insurance industry £500m, commercial insurance modelling company Risk Management Solutions has warned.

RMS says the floods are not as serious as flooding in 2000, which affected over 10,000 properties and caused £925m in insured losses.

But it adds floods are ‘ongoing’ and further rainfall is expected over the weekend.


Do you think the government should tax landlords more heavily?

THE CHARTERED Institute of Housing recently called on the government to remove tax relief for landlords, prompting a barrage of criticism in the consumer press with Patrick Collinson, editor of the Guardian’s Money section, championing a tougher line on the taxation of “locust landlords”.

So, this week Mortgage Strategy asks…

Lenders’ poor service costs brokers money

Telephone charges are in the news again. Len-ders have been hammered once more for publicising expensive 0870 numbers for clients to call when there are cheaper local area or even freephone numbers available.

Too many FTBs dipping into their savings, says Abbey

First-time buyers are finding it hard to raise a deposit because they keep on spending it, says AbbeyAbbey research shows that 11.2 million first-time buyers admit to dipping in to their deposit savings.One in 10 people dip into their deposit savings almost every month, while over 888,000 do so every week.Ricky Okey, managing director Abbey […]

Helping clients with payment shock

As borrowers come off cheap fixes to face the shock of higher repayments, brokers should offer solutions such as interest-only deals and drop-lock facilities, says Mark Harris


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