Call to curb ‘aggressive’ Rock over repossessions

Author: By Damon Wake, PA

The charity Credit Action said the nationalised lender was more than twice as
likely to repossess homes as other lenders, and was not flexible enough in
dealing with borrowers who defaulted on their payments.

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Yell secures lender support

Author: By Nick Clark

The group was relieved to announce that creditors holding more than 95 per cent of its loans had accepted the proposals after it had missed four self-imposed deadlines. It is understood that the threshold would have been met on Friday, but one creditor dragged its feet. The group had threatened to go to court with a scheme of arrangement if it had not secured enough support.

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Three new banks (two not so new) to open on high street

Author: By Sadie Gray

Each of the two Treasury-controlled banking giants will have assets sold off to increase competition between lenders and recoup money for the taxpayer, following last year’s bailouts.

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David Prosser: Credit where it is due

In this post-credit crunch world, it now turns out that it was we who got mugged. All that switching of debt left us with borrowing trapped on plastic with punitive rates of interest. And all that extra credit tempted us to borrow more than we ever should have.

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David Prosser: No need for a mortgage crackdown

By imposing a blanket ban on products such as self-certificated mortgages, the
regulator is making a statement about its view of the housing market. It
clearly doesn’t trust lenders to make advances in a responsible fashion. And
it doesn’t think borrowers are capable of behaving responsibly, either.

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Mortgage borrowers face tough new incomes rule

Author: By Jane Merrick, Political Editor

On the eve of the report, Gordon Brown yesterday called for an end to the “reckless banking practices” that contributed to the worldwide financial collapse.

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Mortgage rates fall back but 100 per cent deals are dead

Author: By James Daley

However, it is now only home owners who have a minimum 25 per cent of equity in their properties, who qualify for the best rates, with many first-time buyers having to pay much higher rates than they would have last year.

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Head serves up a debt-for-equity swap

Author: By Mark Leftly

Shareholders in Austrian sports goods manufacturer Head are this week expected
to vote in favour of a debt-for-equity swap with its senior lenders,
including US hedge fund Octavian Advisors. Lenders owed ?135m (£115m) will
take a 29.99 per cent stake in the company. Head’s chief executive Johan
Eliasch will provide ?10m in working capital raised from third parties.

View full article here

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FSA seeks new power to regulate buy-to-let mortgages

Author: By Richard Northedge

The regulator is planning a clamp-down on mortgages, blaming the global financial crisis on lax home-loan lending.

Jon Pain, the FSA’s managing director of retail business, is also considering capping the size of mortgage that can be lent. That would mean limits on the multiple of the buyer’s income or the proportion of the value of the property that could be borrowed. The regulator does not want to see a repeat of loans that are five times the purchaser’s salary or 125 per cent of the house value.

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How To Find the Best Debt Consolidation Company

by Brenda Lengel

The best debt consolidation company is available to help you eliminate your debt and improve your credit scores. We all know that debt causes a lot of stress in our lives. The best debt consolidation company will be able to help you find the debt consolidation program that will result in you being debt free.

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