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Mandelson moves up ladder with HSBC deal

Peter Mandelson has moved up the property ladder buying a £2.4m property, after having to sell a £373,000 home in a row over loans that led to his resignation in 1998.

The mortgage, which has been completed by HSBC, would traditionally only allow him 4 x his salary. Mandelson reportedly earns £160,000 a year, with £21,000 housing benefits from working in Brussels. This means he should only be allowed a mortgage of over £700,000.

However, it is believed that Mandelson has made £650,000 in property deals in the last decade, and received a significant amount on the death of his mother this year.


First-time buyers look to Europe

Neil Lewis, chief executive officer of Property Secrets believes that first- time buyers will start to consider purchasing their first property abroad rather than the UK. He says with super-charged growth, European property markets such as Poland, Czech and Romania enable UK buyers to make quick returns with low initial investments, whilst the UK market […]

TMB joins L&G mortgage club

Legal & General has appointed The Mortgage Business to its mortgage club. TMB’s product areas include a wide range of self-certification and full-status mortgages. It also offers self-build schemes and a range of buy-to-let options including House 2 House, where income and not rental assessments increase the speed of the mortgage application. John Cupis, mortgages […]

Blast from the past has future role

The current account offset model is worth revisiting. It has a strong customer retention record and encourages the long-term relationships needed to combat customer churn, says Frank Eve

SearchFlow support first trial HIP

Dickinson Dees has been involved in the first successful property transaction using a Home Information Pack in the government-backed trial. The firm utilised searches from SearchFlow, an electronic conveyancing search service that provides a one-stop solution for sending and receiving property searches.Dickinson Dees is the first law firm to launch its own HIP service. Its […]

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


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