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Abbey withdraws final 100% LTV product

Abbey is pulling the market’s last 100% mortgage from tomorrow.

The lender says the move is in line with those of other lenders and is consistent with the current financial climate.

A statement from the lender says: “Abbey is seeing high demand following recent competitor moves. In order to maintain high service levels on the business we write, we are simplifying our mortgage range and repricing in some areas.

“Some of the less popular products are being withdrawn until further notice, including our 100% LTV option, but we still offer a full range of mortgages including short and long-term fixed, tracker and flexible rates. “


Former Optoma chief in partnership talks

Andrew Seymour, former chief executive of Optoma Mortgage Services, is in talks with Connect Mortgage Group about establishing a packaging partnership.He will bring his contacts, sales team and experience to the Group’s back-office system.Seymour says: “There is a place for a company that offers brokers quality service and an experienced sub-prime sales force.”Seymour, who left […]

Packagers fear FSA scrutiny could prompt cuts

Fears have arisen that the Financial Services Authority could start to look more closely at lenders’ distribution models, which could force some to reduce their panels.John Rice, managing director of the Regulatory Alliance of Mortgage Packagers, says: “I believe the FSA will start to look more closely at lenders’ distribution and monitor how closely lenders […]

GE Money to push igroup brand through packagers

Mark Snape, sales director for the packager channel at GE Money Home Lending says packagers are still a huge part of its business and is hoping to get more packagers on board offering its igroup range.Snape says unlike other lenders in the market it is not cutting its packager panel down, but instead working more […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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