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Lib Dems warn lenders over 255% increase in remortgaging

Responding to a survey from Datamonitor showing the remortgage market to have grown by 255% since 2000, the Lib Dems have called on lenders to act responsibly.

Malcolm Bruce MP, Liberal Democrat shadow secretary of state for trade and industry, says: “If interest rates rise further, borrowing against house valuations that may not be sustainable will result in catastrophe for thousands.

“With lenders increasing the income multiples that form the basis for lending decisions there is no sign of financial institutions acting with responsibility.

“Making the most of low interest rates is one thing. But borrowing to the edge of your means, seeing interest rates rise and losing your home is hardly making the most of your assets.”


All your network questions answered by the industry&#39s leading experts

Will the compliance requirements of a network be more onerous than direct regulation by the FSA? Richard Griffiths is managing director of Network DataCompliance is inextricably bound up with good business practice. Any attempt to cut corners on FSA compliance procedures will be detrimental to client relationships and the wellbeing of your firm. If you […]

Conti Financial Services launches Swiss mortgage scheme

Conti Financial Services has launched a mortgage scheme for UK buyers of residential property in Switzerland. The scheme, offering minimum rates of 2.25% for a repayment-only Swiss francs mortgage, has been developed in response to demand from UK buyers who recognise the investment and holiday rental potential of Switzerland, and is available for property purchase […]

ICMG lender aims to fill the gaps

Packager ICMG has launched ICMG Home Loans, a branded lender that promises to develop products to fill the gaps left by other lenders. Based in ICMG&#39s Southend headquarters, ICMG Home Loans will do branded lending for Future Mortgages and Rooftop Mortgages, the almost virtual lender that also distributes through The Mortgage Distributors Co-operative of which […]

Six in 10 homeowners have insurance to protect mortgage

Figures published by lenders and insurers shows that six in 10 of homebuyers have some form of insurance to provide help if they were unable to keep paying their mortgage. One of the most common types of cover is mortgage payment protection insurance where the figures show that almost one million MPPI policies were sold […]

China: growth defence or another debt-fuelled boom?

By Douglas Turnbull, Head of Chinese Equities at Neptune Following recent stimulus efforts from Beijing, Neptune’s Douglas Turnbull examines how the government’s long-term reform agenda can be balanced with supporting growth and addressing structural challenges, and the investment opportunities arising from this.Click here to read more Important information: Investment Risks Neptune funds may have a […]


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