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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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Edeus offer “of no use to borrower”
24 July, 2008
Brian Murphy, head of lending at Mortgage Advice Bureau (MAB), believes that Edeus’ offer to pay off their customers does not help those who will struggle to find a new loan.
Commenting on this, he said: “edeus’ recent announcement that they will offer an 8% discount to homeowners who repay their mortgage early, has been borne out of a need to free up capital for use within other areas of their business.
“While it is an excellent idea from a business perspective, it is less so from a customers’ perspective. In such a tumultuous market, clients, especially those in the sub-prime arena, may struggle to obtain an alternative mortgage deal suitable to their current circumstances. While a cash incentive looks good on paper, it will be of no use to a customer if they struggle to find a deal elsewhere.”
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