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Housing market slowed in May

Nationwide has revealed that the UK housing market continued to slow in May. House prices rose by 0.5% in May, a slowdown from April’s 0.9% rise. The average price rose from £180,314 to £181,584.

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Advantage changes self-cert criteria

Advantage has changed the criteria of its self-cert product. First-time buyers now have access to an increased LTV of 90%, up from 85%. In addition, fees can now be added up to a maximum LTV of 97%.Aimed at the mainstream market and launched in March this year, Advantage’s self-cert range of products is available to […]

ING available through mform.co.uk

ING Direct is now offering its products via mform.co.uk. ING Direct is one of the first lenders to offer online mortgage applications directly through mform.co.uk. Mortgage customers also have the option to link directly to the customer service teams at Reading-based ING Direct also.Francis Ghiloni, marketing and business development director at mform.co.uk, says: “We are […]

Charcol.co.uk to offer free sub-prime advice

Charcol.co.uk is offering free advice to borrowers with poor credit histories in a bid to grow its presence in the sub-prime market. John Charcol’s online brokerage says sub-prime is a growing market and has estimated that annual lending in the sector is worth about £30bn or 8% of the market. It also says that repossessions […]

Godiva launches fees-free deals

Godiva Mortgages has launched two fee-free products in its buy-to-let and self-cert ranges.The buy-to-let flexx, which has a rate of 6.35%, and the self-cert flexx, which is at 6.25%, are both available up to 85% LTV. Both have free valuations, free legal fees for remortgages and no early repayment charges. There is also no booking […]

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.

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