Managing the mortgage maze
Rising house prices and shifting demographics in the UK economy are forcing mortgage lenders to become increasingly sophisticated in the range of products they offer customers. But these complex new products pose significant challenges for risk managers. By Joe Morgan
At first sight, Morgan Stanley may not appear the most obvious choice of intermediary to help first-time homebuyers with a chequered credit history gain a foothold on the UK property ladder. But in July, the US investment bank launched a new shared-appreciation mortgage through its UK subsidiary, Advantage, specifically designed to improve levels of affordability in the UK housing market.
The US dealer's involvement does not seem quite so surprising, given the increasing number of people
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