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DTI figures shows increase in bankruptcy

There has been 66% increase year on year in the number of people being
made bankrupt, Department of Trade Industry insolvency figures for the second quarter of 2006 show.

Law firm Thomas Eggar recently conducted research amongst insolvency
professionals working for a range of firms including KPMG and PWC, which
revealed a 97% feel credit is too easily available. A further 95% believe that the reduction of the duration of personal bankruptcy has reduced its effectiveness as a deterrent to unsustainable borrowing.

Royal Bank of Scotland, Lloyds TSB, HSBC and Barclays have all reported a rise
in the number of consumers struggling to pay debts. The Bank of England raised interest rates to 4.75%, the firstmove in 11 months, which the DTI say will compound fears of further consumer-related debt problems.


Private rented sector flourishing, says Paragon

Landlords are continuing to increase their involvement in the private rented sector on the back of steadily rising demand for rented accommodation, says Paragon Mortgages.The July edition of Paragon’s Buy-to-Let Index shows that average rents achieved on residential investment properties have risen significantly over the last three months, by 351 or 3.48%. The typical gross […]

Retirement Plus joins Exweb

Retirement Plus has become the 16th lender to be added to The Exchange’s equity release sourcing platform Exweb.

Exclusive Connections and Classic Network Solutions sign agreement

Exclusive Connections and mortgage network Classic Network Solutions have signed an agreement which means that EC will be the sole provider of mortgage packaging services to 84 registered individuals.Exclusive Connections and CNS have a business relationship spanning several years. Tony Corrigan, managing director of Classic Network Solutions, says: We have had the chance to work […]

GMAC-RFC completes second portfolio sale worth 330m

GMAC-RFC has completed its second portfolio sale to Oakwood Homeloans Limited.This 330m deal comprised of a blended pool of prime, buy-to-let and self-cert products and was completed on the 28 July 2006.Craig Beresford, director of asset sales at GMAC-RFC, says: It is great news to complete our second deal of 2006 with Oakwood Homeloans and […]

Three catalysts for European equities

By Rob Burnett, Manager of the Neptune European Opportunities Fund In recent weeks, the bear case for European equities has become more pronounced on the back of weaker-than-expected GDP data and deflation concerns. This softening in economic momentum has led some investors to question whether the ECB is behind the curve and indeed whether it […]


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