ArchivesYou are currently viewing archive for January 2007Lenders have been slow to adapt their SVRs, and fixed rates have been hit hard since the change in the base rate rise last week, says moneyfacts.29/01: AHIPP: petition 'no threat'Mike Ockenden, director general for the Association of Home Information Pack Providers has said that he's unphased by the recent HIPs petition launched by the NAEA.Affordability issues continue to blight first-time buyers (FTBs), according to figures from the Council of Mortgage Lenders (CML).The Financial Services Authority has published a practice guide on lifetime mortgagesThe financial services industry is set to contribute to a government scheme offering free basic advice on financial products to all adults on a nationwide basis by 2012.Moneyfacts.com has identified lenders to be quick in responding to last week’s shock interest rate rise, with several of them, mainly building societies, withdrawing their selected fixed rates or their entire fixed rate range without launching replacement products.Scotland proved the most popular destination for new homebuyers in 2006, with more buyers looking to move into the region than any other destination in the UK, SmartNewHomes reveals.The Monetary Policy Committee's (MPC) decision to raise the Base Rate to 5.25 per cent has surprised industry commentators.The OFT is consulting on its draft guidance about new onsite inspection powers which came into force on 8 January 2007.29/01: Financial Services goes PinkThe FSA is not a peer when it comes to equal opportunities, with sexual discrimination cases against The Deutsche Bank and HSBC staff in the last 2 years. Although a recent Stonewall poll seems to prove otherwiseSAGA has launched a new equity release service in partnership with Just Retirement Solutions (JRS).Government plans to limit the taxpayer's liability for civil service pensions could be seen as a sign public sector pensions are finally following the private sector and taking action on the sustainability of their funding.The Association of Mortgage Intermediaries (AMI) has published detailed guidance notes for brokers looking to advise on equity release products.Rental yields hit a five-year annual low in 2006, new data from Landlord Mortgages reveals.The FSA has published findings showing only one third of the firms it sampled had robust processes in place to provide customers with suitable advice.Almost 40 per cent of landlords believe the value of their portfolio will increase over the next 12 months, according to research by Paragon Mortgages.The number of first-time buyers has jumped dramatically as they accounted for almost half of all mortgages taken out in December, Mortgages Direct’s monthly survey reveals.A report by the University of Manchester has confirmed that financial educations qualifications are having a positive affect on young people.University of Manchester Study Confirms Financial Education Qualifications Change Young People's Live Average house prices grew by 0.3% over December 2006, down from 0.6% in November 2006 according to Hometrack.The growth over December 2006 means that house price growth over 2006 has totalled 5.7%. This is the highest rate of year on year growth for almost two and a half years (the previous high was in July 2003). |
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