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Anti-loan shark scheme to go nationwide

Chancellor Gordon Brown has unveiled additional funding to enable the national rollout of a scheme to tackle loan sharks, with a project in every region. Such schemes have been piloted in Birmingham and Glasgow. They work by improving financial advice for people and exposing and prosecuting those illegally charging exorbitant rates of interest. The government says these projects are an important part of its strategy to boost the availability of affordable and appropriate sources of credit for people suffering from financial exclusion. Ed Balls, the minister responsible for financial inclusion, says: “Loan sharks are a blight on some of our least well off communities so I am pleased to see the success we are having in tackling these criminals and helping their victims.”

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RAMP completes 1bn in Q4 2006

The Regulatory Association of Mortgage Packagers has revealed that it broke through 1bn in completions for Q4 2006 – 23% higher than in 2005.RAMP’s 10 member companies have produced 4bn in completions during 2006.John Rice, managing director of RAMP, says: We are predicting growth of around 25% in 2007 for RAMP. “Panel lenders can look […]

Britishinsurance.com launches payment protection products

Britishinsurance.com has launched a range of payment protection products specifically designed for the broker market.The new products have been designed by Assurant Solution, a specialist in creating, underwriting and administering niche insurance protection products. In addition to underwriting this new suite of products, Assurant Solutions also will manage claims and administration on behalf of britishinsurance.com.The […]

Landlords favour flexible lenders

Landlords are increasingly choosing lenders that are more accommodating of potential expansion of investment portfolios, says Mortgage Trust.Its research found that almost a half of small scale and professional landlords would choose a lender based on easy access to further funds, and over 35% would make a decision based on there being no limit to […]

PMPA hits out at lenders with poor IT links

The Professional Mortgage Packagers Alliance has attacked lenders that have failed to deliver in terms of technology and working with packagers. One sweeping rumour was that the PMPA was referring to edeus although this has been denied. Jon O’Brien, operations director at PMPA, says: “Some companies have been tight-lipped about their dealings with packagers. If […]