Investec has agreed to fund a new product range for Infinity Mortgages but appears undecided about whether to do the same for UX Mortgages.
Both lenders lost the financial backing of Investec last month as the credit crunch swept through the industry, but Infinity now seems to be back on track. The firm is set to release its new range to the market tomorrow, although the company will be aware it could run into more difficulties when the funding arrangement expires. The future of UX Mortgages looks increasingly uncertain following the Infinity decision. Commentators say Investec might wish to concentrate on a single lender to reduce its exposure to UK sub-prime mortgages. UX Mortgages declined to comment on today’s annou...
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