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Government to invest 500m in social housing

The government is to pump nearly 500m into social housing investment in 2007.

Communities secretary Ruth Kelly announced further funding of 485m for Arms Length Management Organisations during the next year to invest in the thousands of social houses they currently manage on behalf of local authorities.?
ALMOs in Bassetlaw, Bury, Ealing, Eastbourne, Hammersmith & Fulham, Manchester, Newark & Sherwood, Nottingham, Rotherham, Sandwell, Slough, Wolverhampton, Bolton, Carrick, Hillingdon and Leeds will receive 468m in allocations for 2007-08.

Waltham Forest will receive 17m.?
Throughout the country, 56 ALMOs are managing more than 828,000 homes and spending 840m each year on bringing these up to the governments decent homes standard through refurbishing and modernising programmes.

Kelly says the funding will enable ALMOs to continue their crucial work of making homes warm, weatherproof and more modern.?
The new funding package reflects the governments approval of the work of ALMOs in not only providing new roofs, new windows and kitchens, but also by delivering better and more efficient services.

Kelly says: “ALMOs are integrating with their communities and are keying directly into wider government initiatives, such as contributing towards mixed communities and helping to create cleaner greener safer neighbourhoods.”


House price inflation to slow in 2007

The rate of house price increases is likely to slow in the coming year as the recent base rate rises gradually have an effect on borrowers’ finances, says Ray Boulger, senior technical manager at John Charcol

Interest turns to interest-only deals

With the FSA’s thematic work on interest-only mortgages poised for publication the focus is on these deals so advisers must ensure they are playing it straight, says Bill Warren

FSA urges fims to improve mortgage advice

The Financial Services Authority has called on mortgage advisers to improve their processes, after discovering that just one third of firms had robust processes to provide customers with suitable advice.The regulator says it found scope for improvement in all aspect of the advice process, after reviewing over 250 firms of various sizes which offered mortgage […]

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Health Shield announces strong results

Health Shield, a corporate health cash plan provider, has announced that it has increased gross annual premium income to more than £25m in another year of strong organic growth.


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