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CHL to make 50 redundant

CHL Mortgages is to shed some 50 jobs as part of its plan to slash mortgage business in the coming months. The specialist lender and subsidiary of Irish Life & Permanent said it plans to focus on credit quality and margins in future.

The job cuts represent a fifth of the firm’s workforce.

Managing director Bob Young expressed his regret.

He said: “Unfortunately, this business decision is bound to have consequences for staff numbers.

“We have briefed employees about the move, which we think will lead to a reduction in headcount of about 50.”


KRS and Teachers become partners

Teachers has entered the equity re-lease market via a partnership with Key Retirement Solutions.The mutual, which provides mortgages to employees in the education sector, says the partnership will mean it will refer clients to KRS.James Bawa, chief executive of Teachers, says: “We strive to offer our members a competitive range of products along with top […]

Over 1 million vulnerable borrowers to receive advice from MAT

1.4 million borrowers likely to face higher mortgage costs in 2008 as a result of payment shock will receive advice literature from the Money Advice Trust and the Council of Mortgage Lenders. Supported by members of all sides of the House of Commons, MAT has been working with the CML to publish advice for those […]

We need the FSA to stay onside

Peter Williams, executive director of IMLA, questions whether criticisms of the FSA over its handling of recent events are warranted. But he maintains that it must remain part of the solution and not become part of the problem

US reveals overhaul of financial regulation

The US Treasury has unveiled its blueprint for the biggest overhaul of financial regulation since the 1929 stock market crash. US Treasury secretary Henry Paulson says the plan will give the Federal Reserve more powers to protect the stability of the entire US financial system. Under the proposals, the Fed would have powers to examine […]

What attendees thought of the LendInvest Property Development Academy

LendInvest ran its first Property Development Academy in London last month. Attendees from all over the UK gathered to learn how to better equip themselves with the skills they need to grow their property development portfolios. Speakers from CBRE, Gleeds, Arcadis, Gowling, Residential Edge and AZ Urban Studio gave their insights into their respective fields […]


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