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Second charge lending hits 7-year high

The second charge sector had its best month in seven years in November.

According to the Loans Warehouse, lending hit £53.2m in November, up 12.4 per cent on the £47.4m advanced a year earlier.

Lending in the first 11 months of 2014 reached £582.2m – almost £100m more than the £493.3m advanced in the whole of 2013.

Loans Warehouse director Matt Tristram says competition on rates between lenders, as well as easing criteria, has led to greater volumes.

He says: “Something that has become a trend of late is seeing lenders continue to make improvements to their product offerings and the last month has been no different.

“The changes we are now seeing on a regular basis are enabling us to register with more and more consumers.”



FOS spends £400k on office move

The Financial Ombudsman Service has spent £400,000 on relocating to a new office building, Mortgage Strategy’s sister title Money Marketing can reveal. Last year, the organisation relocated from South Quay Plaza to Exchange Tower, both in London Docklands. Responding to a Freedom of Information request from Money Marketing, the FOS says the annual rental cost […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]


Under the radar – Fit for Work and sickness absence

Earlier this month we sat in on a presentation delivered by the Fit for Work service, and this session did highlight one small but important change to the offering that we must admit had slipped under our radar. The Sickness Absence Review published in 2010 suggested that the Independent Assessment Service (now branded Fit for Work) should have three access points; referral by […]


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