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West Brom securitisation

West Bromwich has completed its first residential mortgage securitisation with a £320m buy-to-let transaction. The deal was made up of mortgages generated through West Brom for Intermediaries.

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Lenders predict rise in repossessions in 2007

Research by Moore & Blatch shows that 75% of mortgage lenders think repossessions will rise by at least 5% in 2007.The repossession litigation specialists says some 20% of lenders anticipate a 10% -15% increase, while a further 20% anticipate a 15% plus increase in repossessions.Furthermore, 75% of lenders see excessive borrowing from other sources asthe […]

Sourcing systems get vote of no confidence at Summit

Trigold and Mortgage Brain have been unanimously given a vote of no confidence by packagers at Mortgage Strategy’s Mortgage Packager Summit in Nice, France. Held in the Palais de la Mediterranee, the 85 packagers attending the Summit were asked whether either sourcing system was a useful tool in the packaging process. Every packager at the […]

Hamptons backers reveal record profits

Hamptons Mortgages parent company Emaar has revealed record profits for 2006.Emaar has recorded a record annual net profit of US$1.735bn compared to US$1.288bn at the end of 2005, a rise of 35%. Annual revenue increased by 68% from US$2.276bn to US$3.813bn.Jonathan Cornell, technical director at Hamptons, says: Hamptons Mortgages is now part of one of […]

GEMHL sees 37% growth in business volumes

GE Money Home Lending has seen a 37% growth in like-for-like business volumes during 2006.The lender also saw almost 50% growth in the final three months of the year alone. Colin Shave, chief executive officer, says: GEMHL achieved impressive double digit growth in its core mortgage business during 2006, with significant volume generated through new […]

HMRC helping to remove artificial gains

An investment bond offers investors certain tax advantages, one of which is the ability to take partial surrenders from the investment. This facility allows the policyholder to withdraw amounts up to 5% of the amount invested each policy year on a tax deferred basis, without incurring any immediate tax liability. This tax deferred allowance can […]

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