UK; SURVEY SHOW RECORD GB 5BN INCREASE IN MORTGAGES
Article Abstract:
A Council of Mortgage Lender's survey has shown that mortgage lending increased a record GB[pound] 5bn in 2000. Total mortgage lending in gross advances came to GB[pound] 119bn in 2000 compared to 1999's GB[pound] 114.3bn. Remortgaging accounted for 28% of 2000's gross lending and this percentage has helped achieved the record levels. December 2000 however was a poor month (87,000 mortgages) compared to the previous month and the 107,000 mortgages in December 1999. Most of the December 2000's borrowers (69%) took out variable rate mortgages, with first-time home buyers borrowing 2.34 times their income on average, the figure for other buyers is 2.27.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: PARAGON GROUP INCREASES PROFIT BY 13.4%
Article Abstract:
Paragon Group (UK), specialist lender, had a GB[pound] 35.5mn profit in 2000, up 13.4%, and new lending of GB[pound] 510mn, up 22%. The mortgage portfolio, on which the profit margin is high, is now GB[pound] 790.8mn, up 25%. The company, whose business includes first mortgages, secured and unsecured loans, retail finance and vehicle finance, is looking at new areas, such as offering mortgages for commercial and residential investment finance and an e-commerce portal for those who rent out property.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: A 251% INCREASE IN BUSINESS FOR SHIP
Article Abstract:
Safe Home Income Plans (Ship), the eight-member consumer protection organisation for the equity-release industry, has reported an increase in mortgage-related business of 251%, to GBu 297.4mn in 2000. Combined new business rose by 118% to GBu 524.2mn. Ship's chairman, Mark Goodale, says key factors for the increase were Norwich Union Equity Releases' entry into the market in 1999 and Northern Rock's decision to join the body in 2000.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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