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NR shareholders seek legal review

A potential legal battle between Northern Rock shareholders and the government took a step closer to court recently after Treasury lawyers rejected investors’ pleas for fair compensation. The UK Shareholders’ Association will now seek a judicial review of the decision to base payouts on the assumption that NR was unable to survive without public support. The association says the Treasury’s stance makes NR shares worthless.

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Calls to raise ISMI threshold

A state benefit to help struggling home owners has been slammed by the mortgage industry for being out of touch with market prices.Experts believe Income Support Mortgage Interest, which pays all or part of the interest on mortgage repayments for those who claim Jobseekers’ Allowance or Income Support and have mortgages up to £100,000, should […]

Lenders urged to remain cautious

Lenders should maintain a cautious attitude to lending when the financial markets stabilise, according to one member of the Bank of England’s Monetary Policy Committee.At a Confederation of British Industry conference last week, Andrew Sentance advised lenders to remain careful regardless of market conditions.Sentance says: “Even when the market settles down, it is reasonable to […]

Life after the CML

By Roy Armitage, head of credit at LendInvest Last month saw three-quarters of the membership of the Council of Mortgage Lenders (CML) vote in favour of plans to create a super-trade body, which would see the CML merge with the likes of the British Bankers’ Association and Payments UK. There is little room for misty-eyed […]

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