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This week&#39s problem case

Mr and Mrs Smith have a residential mortgage of £75,750 (property value £180,000). Mr Smith has always dreamt about spending time in a warmer climate and would like to do so in a couple of years. They have a small amount of savings but not the level of capital they need to set up overseas. Mr Smith knows that one way of realising his dream is to sell his property, but he would ideally like to keep his current home for when they want to return.


Traded endowment policy (TEP) enquiries rocket by over 50%

The Financial Services Authority (FSA) ruling PS106 came into effect on September 1 2002 to ensure policyholders seeking information on surrendering an endowment policy are advised by their life company of the option to sell it. This has had a marked impact upon enquiry levels to the UK&#39s leading TEP Company, Surrenda-link, with over 50% […]

Park Row Specialist Lending enters non-conforming market

Mortgage intermediary Park Row Independent Mortgages (PRIM) has expanded into thenon-conforming market with the launch of Park Row Specialist Lending. The new division has been set up in conjunction with packager, The Mortgage PlacementCompany (TMPC), and offers non-conforming mortgages through the 280 advisers in PRIM andPark Row Associates. Park Row Specialist Lending deals exclusively with […]

Fed cuts rates 0.5%

The Federal Reserve&#39s rate-setting body slashed interest rates 50 basis points yesterday. The rate cut was expected, but most observers were betting on a quarter-point drop. The Federal Open Market Committee said yesterday: “The Committee continues to believe that an accommodative stance of monetary policy, coupled with still-robust underlying growth in productivity, is providing important […]

Mortgage Strategy launches CP146 response download

Intermediaries are now able to give the FSA their thoughts on CP146 quickly and easily &#45 thanks to a response “template” that went live on the Mortgage Strategy website today. The Mortgage Strategy response is the culmination of weeks of regulatory news and expert analysis. The template talks brokers through each of the 35 questions […]


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