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Rate rise will hit first-timers hardest, says Linden

Linden Homes has warned that the rate rise will hit first-time buyers hard and is likely to price many of them out of the market altogether.

Philip Davies, chief executive of Linden Homes, says: “The Bank of England’s decision to raise interest rates again is likely to price many remaining first-buyers out of the market.

This will result in stagnation and prevent existing homeowners from moving up the ladder.

“Consumer confidence will be dented by this latest rise, implying the continuation of an upward trend in interest rates into 2007.”

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Spokesman for Freehold

Terry Pritchard has been appointed spokesman for the Freehold packagers’ association while Paul Brett, who founded the association in 2005, moves on to focus on running new lender FML. Pritchard, whose company Chase UK is a founder member of Freehold, is part of the steering committee formed to provide direction to the association. Brett remains […]

MPLC extends

valuations deal Mortgages PLC has extended its free valuations scheme. It will continue until the end of 2007.

AMI concerned by FSA mortgage advice findings

&CThe Association of Mortgage Intermediaries says it’s concerned by the Financial Services Authority’s findings on the quality of intermediaries’ mortgage advice.While the FSA gave larger networks and brokerages a thumbs up, describing them as having “robust” processes in place, smaller firms were found to have work to do to improve their advice and record keeping […]

Base rate rise “no surprise” says Skipton

Skipton says the strength of economic data in December means it comes as no suprise that base rates have been hiked in Janaury, a month earlier than expected. John Goodfellow, chief executive of Skipton, says: “It was previously thought that, were the rate to move, February would be the month it would happen. However, the […]

Abe and Modi

Investment ideas to power returns

We believe the most exciting stockmarket opportunities today are in those places where a new generation of leaders are successfully transforming economies and companies in favour of investors. In a new investment guide and website, which is suitable for use with your clients, we set out our views on these reformers. Click here to find […]