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Indian bank is on course for August mortgage launch

The State Bank of India says it is on track to launch a range of residential mortgages in August.

Mortgage Strategy revealed in September 2011 that India’s largest bank was looking at entering the UK residential sector in 2012, after launching a number of buy-to-let deals through its branches.

A spokeswoman for the bank says it is too early to confirm what its product offering will be, but says it is exploring offering the mortgages via brokers.

SBI, which is 59.4% owned by the Indian government, is the 50th largest bank in the world and operates in 32 countries.

Last week the bank also announced that it has joined the Council of Mortgage Lenders. Yorkshire Building Society and OneSavings Bank, which operates as Kent Reliance, have also become CML members.


Repossessions up 5% year-on-year in Q4 2011

The number of properties taken into possession in Q4 2011 totalled 8,500, 5% higher than the 8,100 homes repossessed in the same period in 2010, according to data from the Council of Mortgage Lenders.

Shadow MPC – February

With the stage set for a further round of quantitative easing Mortgage Strategy’s shadow Monetary Policy Committee sticks with its vote to hold. But if it is to avoid inflation problems later the government must time its ending of QE carefully

The return of inflation

Alex Ralph, manager of the Artemis High Income Fund, sees further pressure on government bonds as inflationary pressures build on both sides of the Atlantic.


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