3XD appoints Rick Riding as Non Executive Chairman and adds further insurers to household panel

3XD, the general insurance provider for mortgage intermediaries, announces the appointment of Rick Riding as its Non-Executive Chairman with immediate effect.
Rick has an extensive knowledge of the mortgage and general insurance sector. He was a founder director and chairman of Paymentshield, leaving the company following the management buy out in 2004.
In addition, to complement their [...]

Over 60s have worrying levels of unsecured debt

According to research from debt management company, EuroDebt, its clients who are 60 and over have some of the highest levels of unsecured debt of any of their client groups. Representing some 11% of the total EuroDebt client base, the over 60s have an average unsecured debt of £25,722 with an average of eight creditors. [...]

Assetz brings mortgage service in house

Assetz, the property investment firm, has launched a range of products offering exclusive mortgage rates and other deals direct to its clients.
Gary Keefe, UK mortgage manager for Assetz, said: “With some of the big lenders withdrawing a number of their products from the market place over recent months, buy-to-let investors need flexible and competitive financing [...]

Norwich Union offers prestige service for top property owners

Norwich Union is launching a prestige package aimed at large property owners, to help brokers offer a fully tailored solution for their customers.
Part of Norwich Union’s Property Owners insurance cover, the prestige offer is aimed at customers with property portfolios who pay premiums in excess of £50,000.
Mike Colmans, Norwich Union’s underwriting manager, property owners segment, [...]

Hamptons hits out over high LTV withdrawals

Jonathan Cornell, managing director at Hamptons Mortgages, has criticised lenders’ decisions to pull their 100%+ LTV mortgage products.
He said: “In the light of the weakening housing market, lenders are pulling their 100%-plus LTV mortgages at a rate of knots. It is a real shame to see so many products being removed from the market as [...]

Halifax calls for stamp duty thresholds to be raised

Halifax, the UK’s biggest mortgage lender, is calling on all political parties to raise the stamp duty thresholds to account fully for the rise in house prices over the past decade and to commit to raise all the thresholds in line with house price inflation in the future.
Halifax has compared the average residential stamp duty [...]