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Doubt over lender price indices

This claim follows research on whether the performance of a football club affects prices in the local area. Leeds fans will be pleased to note there is no direct correlation, but there is a serious point to the research.

Figures for the North-East demonstrate the shortcomings of indexation in underwriting deals. If you use the Halifax index to make a decision, it shows growth of 2.1 for a five-year period. This figure applies under the broad title of North-East. A lender having advanced 90% on a £50,000 property in 1999 would now expect a valuation of £50,000 x 2.1, going by the index. But the valuation figure for St James&#39 Park, home of Newcastle FC, is £141,000, and that for the Riverside, where Middlesborough FC is based, is £86,000.


Pink teams up with Platform on buy-to-let adverse deal

Pink Home Loans has teamed up with branded lending partner Platform to offer a buy-to let, adverse deal with a 2.45% discount, giving an initial pay rate of 6.05%. Clients are allowed up to 10 properties with a maximum total borrowing of £350,000 with Platform. Buy-to-let investors can also save £150 off the application/valuation fee […]

Homeloan Management appoints head of Irish operations

Homeloan Management Limited has appointed Andrew Duff as director of Irish operations, based at the company&#39s new offices on the Ulster Science and Technology Park in Derry. Duff was previously with Capita Group where he was responsible for the execution of business outsourcing contracts for a range of organisations such as BBC TV, Abbey National […]

Kensington offers no legal fees and cashback on remortgage products

Kensington Mortgages will be offering free legal fees for its remortgage products across its mortgage range, excluding buy-to-let and residential investment mortgages from July 1. It will also be giving £250 cashback on these remortgage products. Alastair Pate, director of marketing and strategy, says: &#34This is the first time that Kensington has launched a free […]

Lemon Squeezy launches guide on financial promotion regulation

Lemon Squeezy Marketing Limited, a marketing consultancy firm specialising in the financial services industry, has recently launched a guide for advisers in the mortgage market detailing the forthcoming FSA regulations on financial promotions, including hints and tips for more effective marketing. With the introduction of legislation in October, mortgage brokers will be required to follow […]

Five ways to invest in the connected world

Smart utility metering; fitness trackers; connected cars; smart factories; precision agriculture: the internet of things encompasses myriad applications. But how do you gain exposure – and profit – from this growing trend, asks Neptune fund manager & CTO Ali Unwin. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating […]


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