- Home
- Lenders News
Lenders News
RBS reports £2bn loss in 2011
The Royal Bank of Scotland has reported a loss of £2bn for 2011, compared to a £1.2bn loss in 2010.
Leeds BS reports 25% lending increase in 2011
Society lends £1.2bn in 2011, up 25% on £984m advanced in 2010.
Man jailed for seven years over £8m mortgage fraud
A fraudster at the helm of a criminal gang that defrauded high street banks out of almost £8m by taking out mortgages on properties they didn’t own has been jailed.
Accord expands BDM team
Accord Mortgages has expanded its sales team by recruiting four new business development managers and four business development advisers.
Leeds makes interest-only changes
Leeds Building Society has cut its maximum LTV from 70% to 50%, for interest-only loans where the repayment strategy is the sale of property.
Abbey ditches proc fees for interest-only ports
Abbey for Intermediaries will no longer pay a proc fee to brokers for borrowers who port their interest-only mortgage over 50% LTV.
Yorkshire BS to open 12 new branches
Yorkshire Building Society is planning to open 12 new high street branches over the next two years.
CML lowers estimates of business by brokers
The Council of Mortgage Lenders has reduced all its past intermediary lending estimates after changing the way in which it calculates intermediated sales.
Gross mortgage lending up 10% year-on-year in January
Gross mortgage lending totalled £10.5bn in January, 10% higher than the £9.5bn lent in January 2011, according to the Council of Mortgage Lenders.
Fear of being sued makes lenders toughen criteria
Fears that they could be sued if a borrower’s repayment vehicle fails to pay off their interest-only mortgage are behind lenders’ recent criteria changes, trade bodies have claimed.
Ex-Aldermore chief Snowdon sets up higher-LTV venture
Former Aldermore chief executive of residential mortgages Colin Snowdon has started work on a new project specialising in bringing higher loan-to-value mortgages into the market.
Accord delays relaunch of 75% and 85% LTV range
Accord Mortgages has delayed the relaunch of its 75% and 85% LTV product range until Monday.
Lloyds makes further interest-only changes
Lloyds Banking Group is making a number of restrictions to its interest-only offering from tomorrow.
Nationwide launches ISA account for FTBs
Nationwide is launching a tax-free savings account aimed at first-time buyers saving for a deposit.
Accord withdrawing all 75% and 85% LTV products
Accord Mortgages is withdrawing all of its 75% and 85% LTV mortgages until Thursday.
Barclays launches Future Fix mortgage
Barclays is launching a new mortgage tomorrow that allows borrowers to have a tracker rate for the first two years and then switch to a fixed rate for the remaining three years of the deal.
Post Office offers 75% LTV five-year fix at 3.38%
The Post Office has cut its mortgage rates by up to 1.01% on a range of its fixed rate and tracker mortgages - the largest cut is to its five-year fixed rate deal at 75% LTV - a reduction of 1.01% from 4.39% to 3.38%
MIG scheme for Manchester mooted
The Co-operative Bank and Manchester Building Society are in talks with Manchester City Council to develop a localised mortgage indemnity guarantee scheme.
Tesco tight-lipped on its mortgage distribution
Tesco Bank says it is too early to say whether it will use brokers to distribute its products when it launches into the mortgage market.
