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BoE broadens range of eligible collateral for loans

Bank of England governor Mer-vyn King last week extended the collateral that can be used as security for its short-term loans to include mortgage-backed securities.

He also pledged to increase funding for the short-term auctions he ann-ounced in December in a bid to restore confidence in the money markets.

In a speech at the Treasury, King said: “I assure you that the BoE will provide the liquidity assistance that the system needs to restore confidence.

“Such help can be only a temporary measure but it will be a useful bridge to a longer term solution.”


UNIFi enhances secured loan portal

UNIFi Partners has unveiled a range of enhancements to its secured loan portal.The changes to the portal have been made in light of the recent revisions to the Consumer Credit Act and UNIFi’s ongoing aim to provide its members with sufficient technology and information to smooth business transactions.By using the secured loan portal, brokers will […]

B2L investors’ gearing falls

Buy-to-let investors’ gearing has declined to 36% – its lowest level since May 2007, Paragon Mortgages has revealed.

Over a third of landlords risk committing a civil offence

Almost one year on from its introduction, 40% of UK landlords are still unaware of the Tenancy Deposit Scheme leaving them at risk of committing a civil offence and being forced to pay tenants three times the deposit amount.The Tenancy Deposit Scheme was introduced by the government on April 6 2007 to protect tenancy deposits […]

Regulator gets prosecutor status

Chancellor Alistair Darling is beefing up the Financial Services Authority’s power to tackle financial crime by awarding it specified prosecutor status. This will allow the regulator to offer immunity to informants providing details of criminal activities. Specified prosecutor status is already held by tax officials, the director of public prosecution and the Serious Fraud Office.

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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