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Lifetime mortgages up 11% on 2003

Lifetime mortgages totalling 348m were advanced in the third quarter of 2004 according to an equity release survey conducted by the Council of Mortgage Lenders.

Almost 7,500 were advanced, representing an 11% increase on the same period in 2003.

At the end of the third quarter of 2004, the total number of lifetime mortgages outstanding had grown to an estimated 76,000, worth around 3.7bn, an increase of 42% on the third quarter of 2003.

Comparison of the CML’s data on the equity release market with that provided by Safe Home Income Plans reveals a continuing decline in the provision of home reversion schemes.

The value of home reversion plans advanced, declined from nearly 60m in the first quarter of 2003 to 10m in the third quarter of 2004.


Chancellor fails to cheer homebuyers, says Halifax

UK homebuyers will be disappointed the chancellor did not take the opportunity to reduce housing tax policy, stamp duty and inheritance tax, says Halifax.The UK housing market remained strong in 2004, with house prices rising by 16.8% during the year. Halifax estimates that the government currently takes around 4 billion each year from residential Stamp […]

On the beat

It might well look like something out of a horror film. Just as intermediaries were beginning to feel that memories were fading following the October 31 introduction of MCOB, a new horror dawns. Creeping and stalking, ready to pounce on unsuspecting prey in early 2005, is ICOB.

CeMAP Services records 20,000 web hits

CeMAP Services has recorded over 20,000 web hits in its first month.More than 1,000 people have already registered to receive monthly compliance updates from the service launched by the Institute of Financial Services and the Council of Mortgage Lenders.The CeMAP Services website offers visitors the opportunity to post compliance questions to a dedicated team of […]

MEX reveals results of lifetime research

Results from Mortgage Express’s lifetime survey show the vast majority of lifetime customers consult their families before taking out the mortgage, allaying one of the fears of future mis-selling complaints in the sector. The survey also revealed that 60% of customers use some or all of the money released from the equity in their property […]


White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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