UK: DOWNING OFFERS INVESTMENT PROPOSAL

Article Abstract:

Downing Corporate Finance of London, UK is offering investors the opportunity to take a share in a 36,000 sq ft Guilford, UK-based building as part of a commercial property investment programme, with returns of over 10%. Minimum investments of GBu 12,500 are required, with dividends anticipated within six years. Downing is seeking GBu 3.2mn equity commitment, of which GBu 750,000 has been raised. Food and catering equipment maker, Endois, is to rent the Guildway building for GBu 892,450 per year.

New capacity, new plant construction, Capital & Loanable Funds, Business Credit Institutions, All Other Nondepository Credit Intermediation, Commercial Bank Corporate Svcs, Commercial finance companies, Corporate banking, Downing Corporate Finance

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UK: COMPLAINTS ABOUT IGROUP LOAN RATES

Article Abstract:

More than 1,000 complaints have been made about rates charged on loans serviced by mortgage firm igroup. There are particular concerns about the loans served for Ocwen Financial Corporation of Florida, with which igroup now has a strained relationship. Colin Sanders, igroup's chief operating officer, has indicated that many of the complaints relate to loans with Heritable Group, which is now owned by Ocwen.

Government regulation (cont)

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UK: Growth in buy-to-let arena

Article Abstract:

The UK buy-to-let market has been valued at GBu 10bn with total outstanding mortgages standing at 130,000, according to statistics from the Council of Mortgage Lenders. In the first six months of 2001, 27,900 loans were secured, with a total value of GBu 2.5bn, representing 19% growth on 2000. The market is being driven by declining interest rates and healthy rental yields.

Sales & consumption

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