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Bridgewater Equity Release has revealed the results of an academic survey conducted by Northumbria University with its support:
"The vast majority of respondents (96%) were wholly in favour of full regulation of the SRB market; currently the market is subject to interim regulation of which 75% of advisers were aware..."
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Consumer Focus is today submitting a super-complaint to the OFT about the £158 billion cash ISA market:
"The consumer champion estimates that 15 million cash ISA holders could be losing out in interest worth up to £3 billion a year because of the way the market operates..."
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At Glasgow Sheriff Court today:
"Edward Lyons pled guilty to fraudulently obtaining mortgage funds of more than £250,000, between 2003 and 2005..."
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Nationwide Building Society report:
"The price of a typical UK property rose by a seasonally adjusted 0.7% month-on-month (m/m) in March, largely reversing the 0.8% m/m fall measured in February..."
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According to the Office of National Statistics:
"UK gross domestic product (GDP) in volume terms rose by 0.4 per cent compared with the previous quarter. This was revised from a rise of 0.3 per cent published last month..."
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According to the Office of Fair Trading:
"The Royal Bank of Scotland (RBS) has agreed to pay a fine of £28.59 million after admitting breaches of competition law between October 2007 and February or March 2008.."
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The Secretary of State for Business, Innovation & Skills has presented a petition in the High Court to wind up 123 Finance Ltd in the public interest:
"The company, which traded from premises in Bolton, signed up members of the public, who were experiencing severe financial difficulties, to a debt management plan under which it attempted to negotiate a settlement with their creditors in return for a fee..."
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The results from the latest FindaProperty.com Rental Index reveal:
"Asking rents increased by 0.7% in March to £820pcm from £814pcm in February. Average rental values are now just 0.8% (£7pcm) lower than a year ago (£827pcm)..."
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The latest SmartNewHomes.com New Homes index reveals:
"The average price of a new home declined by -1.6% in February 2010, a second consecutive monthly fall..."
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Business Secretary Lord Mandelson today announced a major expansion of the financial services offered by the Post Office:
"The Post Office will offer a new mortgage product with a 90% loan-to-value ratio aimed at first-time buyers. The Post Office will also increase its lending substantially, aiming to double the value of its mortgage book in the financial year 2010/11..."
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Northern Rock today announces rate reductions that make it easier for first-time buyers to get on the property ladder:
"Everyday range 2 Year Fixed rates for borrowers with a 15% deposit start from 5.49% (previously 6.69%) with a product fee, or 5.99% (previously 7.19%) without a product fee..."
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The Serious Fraud Office announced:
"Two former GP Noble trustees have today been charged with fraud and abuse of position in connection with the alleged theft of £52 million of pension assets from nine occupational pension schemes..."
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Data from Barclaycard Global Payment Acceptance shows:
"Payments made on credit and debit cards were up 7.1% in February compared to the same month last year..."
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Abbey for Intermediaries announced they have:
"Reduced the rate on their 85% LTV, 3 year Fixed rate Homebuyer product by 0.10% to 5.69% with a £995 fee..."
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Savills housing investment consultancy division published a paper today that reveals:
"An additional 100,000 new homes built each year would give government finances a £23bn boost over the life of the next parliament..."
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Mydeposits.co.uk announced:"While 99.4% of private tenants rent deposits are returned without problems at the end of the lease period, there has been a marked shift in the outcome of disputes in the remaining cases, with landlords being more successful with claims than a year ago..."
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Metropolitan police announce:
"Four people have been sentenced to over 15 years in prison for their involvement in a £6million false mortgage scam yesterday, Tuesday 23 March..."
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According to the latest monthly housing survey published today by Hometrack, the housing intelligence business:
"House prices rose by 0.3% in March. The year on year rate of growth now stands at 1.3%. However these headline figures mask growing evidence of change..."
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Legal & General announced today:
“IFRS operating profit of £1.1 billion is considerably higher this year and the balance sheet has been further strengthened with an IGD surplus of £3.1 billion after accruing for an increased final dividend of 2.73 pence per share..."
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Coventry Building Society announced today:
"Coventry Building Society, the UK's 3rd largest building society, has announced today that it has agreed merger terms with Stroud & Swindon Building Society, the UK's 11th largest building society..."
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The Financial Services Authority today announced:"In the first operation carried out jointly between the Financial Services Authority and the Serious Organised Crime Agency, 16 addresses have been searched this morning in London, in the FSA's largest ever operation against insider dealing..."
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The latest Household Finance Index (HFI): United Kingdom reveals:
"Around 27% of survey respondents reported that their household finances worsened in March, compared to just 7% that signalled an improvement..."
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Godiva Mortgages is today launching:
"New range of Buy to Let products including a 3 year fixed rate at 5.35%. This is the only BTL fixed deal without early repayment charges currently available on the market..."
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Bradford & Bingley announced today:
"Group loss before tax for 2009 was £196.0m. This is £71.0m lower than the figure of £267.0m forecast in the Business Plan and £82.0m lower than the comparable loss of £278.0m in 2008..."
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The Office for National Statistics announced today:
"Net debt was £857.5 billion, equivalent to 60.3 per cent of gross domestic product, The public sector current budget was in deficit by £6.0 billion..."
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Data published today by the Council of Mortgage Lenders shows:
"Gross mortgage lending in February increased to an estimated £9.2 billion, a 6% rise from £8.7 billion in January..."
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Research from SHIP (Safe Home Income Plans) reveals that:
"Only 8% of Britons regularly seek financial advice from an IFA when it comes to planning their retirement finances..."
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Legal & General Mortgage Club has launched two exclusive fixed rate mortgage products, provided by Accord Mortgages:
"Both mortgages are available to a maximum loan size of £750,000 and come with arrangement fees totalling £995..."
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Latest figures from unbiased.co.uk reveal:
"42% of enquiries for whole of market mortgage advice in February 2010 were from first time buyers looking to get their foot on the property ladder..."Click here to read more.
The National Association Estate Agents report that:
"Despite poor weather conditions throughout February, estate agents over the course of the month managed to increase the number of sales they agreed..."
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The RICS residential lettings survey for November 09 - January 2010 reveals:
"In the three months to January, tenant demand for residential property continued to rise at a similar pace to that recorded in the three months to October..."
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Stephen Hester group chief executive of the Royal Bank of Scotland told the Future of Banking Commission:
"We need to develop this in the context of a systematic crisis, when all banks could go bust, as they exist only on confidence. The question is how to let a bank go bust while allowing its functions to continue..."
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The latest House Price Index for January 2010 reveals:
"UK house prices were 6.2 per cent higher than in January 2009 and 2.2 per cent higher than in December 2009..."
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Matthew Bullock, chief executive of N&P, said:
"Our business is largely removed from the wholesale debt markets and the riskier elements of lending. But so profound was the crisis that we were impacted in several ways..."
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Results from the latest FindaProperty.com's survey reveal:
"First-time buyer prices stable for 12 months but rise by 0.4% (almost £700) this month...."
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According to the latest Buy-to-Let Index from LSL Property Services:
"The average rent in the UK reached £658 per month, 3.2% higher than a year ago, roughly in line with inflation. Yields on buy-to-let property rose to 4.8%..."
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Rightmove have announced that:
"Between 2002 and 2009 the average monthly increase in March was 1.3%; in contrast this March's rise of just 0.1% is the lowest Rightmove has ever recorded at this time of year..."
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Council of Mortgage Lenders has produced a Budget submission:
"At the moment we cannot see how to square the circle between increasing demand for housing, constraints on the necessary finance to deliver it, the repayment of £300 billion of lending support between 2011 and 2014..."
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Link Loans will be open for business on Thursday 11th March 2010:
"Secured loans lender, Link Loans, has been relaunched with new equity funding from the RBS Special Opportunities Fund, managed by RBS Equity Finance (a division of RBS Asset Management Limited), and new debt funding from RBS Financial Institutions..."
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The Financial Services Authority announced that:
"Malcolm Calvert, a former equities marketmaker at stock broker Cazenove, was today found guilty at Southwark Crown Court on five counts of insider dealing..."
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According to Knight Frank's 'London Residential Development 2010 review':
"Sales of new-build homes rose by a remarkable 214% in the last full quarter when compared to the same period in 2008..."
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New research from Clydesdale and Yorkshire Banks reveals:
"84% of savers in the UK believe current rules on Individual Savings Accounts (ISA) are unfair and penalise risk-averse savers..."
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New research from property website Zoopla.co.uk reveals:
"The fall in house prices and mortgage rates over the past couple of years has resulted in UK housing affordability at its highest level since 2003..."
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The Serious Fraud Office report that:
"Investment road-show fraudster Kevin Foster has been remanded in custody today after being convicted of defrauding investors of millions of pounds through his various schemes, collectively called KF Concept..."
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Northern Rock announce loss of £257 million in 2009, down from £1.4 billion in 2008:
"Reduced statutory loss before tax of £257 million in 2009, down from £1.4 billion in 2008 (Underlying loss before tax of £383 million compared with £1.3 billion in 2008)..."Click here to read more.
The serious Fraud Office has reported:
"Seven people have been charged this week with conspiring to defraud investors through a series of alleged share scam operations, known as 'boiler rooms'. All are due to appear at City of London Magistrates' Court on Friday 19 March 2010..."
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According to Zoopla.co.uk:
"Houses prices were up 4.7% in last half of 2009, a gain of 2.5% for year. While property sales in Britain in 2009 were 6.8% lower than a year earlier, it was very much a year of two halves..."
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Moneysupermarket.com says:
"One year ago this month the Bank of England ended six months of dramatic rate cuts to try and stave off the effects of the recession, leaving Bank of England Base Rate at a record low of 0.5 per cent..."
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According to a number of estate agents:
"Larger houses of £5 million plus in Kensington, Knightsbridge, Belgravia and Mayfair are in some cases now selling at prices above those reached in Spring 2008..."
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Coventry Building Society is reducing rates on its range of Residential Remortgage products:
"A 2 year fixed rate Residential mortgage at a very competitive 4.99%, £199 fees, available up to 85% Loan to Value..."
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