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PMPA offers two-year fixes

The Professional Mortgage Packagers Alliance has teamed up with DB Mortgages to offer two-year fixed rates on DB’s light, medium, heavy and unlimited ranges, pegged at the level of a 0.25% reduction on the lender’s core fixed rate.

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Lenders report increased shortfalls after sale of property

Nearly half of lenders have reported an increase in shortfalls after sale of property, a survey by litigation specialists Moore & Blatch reveals.The research, which included high street banks, building societies and specialist prime and sub-prime lenders, showed that of those who said that they were seeing an increase in shortfalls, 100% thought that they […]

GMAC-RFC sells portfolios to Morgan Stanley

GMAC-RFC has sold of two portfolios to Morgan Stanley totalling £670m. These trades are GMAC-RFC’s first ever portfolio sales to Morgan Stanley. The transactions comprised blended pools of prime, sub-prime, buy-to-let and self-cert mortgage assets.Craig Beresford, director of asset sales at GMAC-RFC, says: “I am delighted to be bringing Morgan Stanley into our whole program, […]

Citigroup refutes job loss claims

Citigroup has refuted claims that it is to cut up to 15,000 jobs in its impending restructuring next month.It was reported that increased costs would hit back and middle offices of the group in all its departments in the USA and worldwide, meaning mass relocation or redundancy across all its interests.However, the group, which owns […]

Letting agents urged to use Tenancy Deposit Solutions

The UK Association of Lettings Agents has advised its members to use Tenancy Deposit Solutions as their form of protecting tenant deposits.TDSL is the insurance-based scheme sponsored by the National Landlords Association and administered by Hamilton Fraser Insurance.David Salusbury, chairman of TDSL, says: We are obviously delighted that UKALA has concluded that TDSL is the […]

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