Mortgage Strategy
Natalie Thomas Editorial

Rents to keep rising, says RICS

25 May 2012

Rents rose further in the three months to April, with 13% more chartered surveyors reporting rises rather than falls in the three months to April.

NatWest introduces new deals

24 May 2012

NatWest Intermediary Solutions is introducing four new deals to its core range tomorrow – open to all intermediaries – and reducing rates on several deals in its core and corporate ranges.

AToM teams up with Omni Capital

24 May 2012

AToM has been appointed a a preferred partner of Omni Capital, the Knightsbridge-based short-term and bridging lender.

Paragon sees 13% increase in profits to £44.8m

23 May 2012

The Paragon Group of Companies, Paragon Mortgages’ parent company, increased its pre-tax profits by 13.4% in the six months to March 2012 to reach £44.8m.

Mortgage complaints rocket by 35%

22 May 2012

Complaints to the Financial Ombudsman Service about mortgages increased by 35% in the last year.

400 properties reserved through NewBuy scheme

21 May 2012

Figures released today by the Home Builders Federation reveal that 400 people have reserved new homes through the NewBuy scheme since its launch nine weeks ago.

Northern Rock collapse could cost taxpayers £2bn

18 May 2012

The taxpayer could lose about £2bn once the assets of collapsed bank Northern Rock are wound down, the National Audit Office estimates.

NLA calls for greater innovation in B2L market

17 May 2012

Research from the National Landlords Association has shown that almost three-quarters - 74%, of landlords agree that the buy-to-let market needs greater innovation.

TBMC offers exclusive 3.25% two-year discounted B2L deal

17 May 2012

TBMC has launched an exclusive buy-to-let deal with Hinckley & Rugby Building Society.

More 2 Life cuts standard rates from 6.99% to 6.25%

16 May 2012

More 2 Life has cut the rates on its standard equity release plan from 6.99% to 6.25% as it increases the focus on its protected equity guarantee.

HSBC to allow all Law Society accredited solicitors on conveyancing panel

16 May 2012

HSBC will now allow all solicitors accredited with the Law Society’s Conveyancing Quality Scheme home-buying quality mark, around 1,400 firms, to act for HSBC as well as its mortgage customers.

One in 10 new homes in the UK are self-built

15 May 2012

One in 10 new homes in the UK are self-built and the market generates £3bn annually for the UK economy, according to the Building Societies Association.

Shapps to launch £30m fund to boost self-build market

15 May 2012

Housing minister Grant Shapps has announced that he will shortly be launching a £30m fund to provide short-term finance for self-build projects.

Precise Mortgages offers NACFB members enhanced proc fee

14 May 2012

Precise Mortgages is offering members of the National Association of Commercial Finance Brokers an enhanced proc fee of 1.3%, up from its standard 1%.

SPF Private Clients posts pre-tax profit of £952,000

9 May 2012

SPF Private Clients has reported a pre-tax profit of £952,000 for the eight-month period ending December 31 2011.

Secured loan business up 14% year-on-year

9 May 2012

Secured loan business totalled £74m in Q1 2012, up 14% from Q1 2011, the latest figures from the Finance & Leasing Association show.

Cheaper to rent than buy prime property

9 May 2012

The average cost of renting a prime property in the UK is £1,238, some £369 a month less than the mortgage, research from PrimeLocation reveals.

Platform reduces rates on B2L deals

8 May 2012

Platform has reduced the rates on a number of its buy-to-let tracker and fixed rate deals by up to 0.20%.

April sees 32% fall in valuations

8 May 2012

The valuations market saw a 32% dip on a monthly basis in April, according to the latest Housing Market Activity Report by Connells Survey & Valuation.

Fitch affirms Clydesdale Bank's ratings

3 May 2012

Fitch Ratings has affirmed Clydesdale Bank’s long-term issuer default rating at A, short-term IDR at F1 and support rating at 1, and removed it from rating watch negative.

House prices down 0.2% in April

3 May 2012

UK house prices fell by 0.2% in April, according to the Nationwide house price index.

Mortgage approvals up in March

2 May 2012

The number of UK mortgage approvals increased from 49,000 in February to 49,900 in March, according to the latest figures from the Bank of England.

The Co-operative Bank withdraws interest-only mortgages  

2 May 2012

From next Tuesday the Co-operative Bank will no longer offer mortgages on an interest-only basis.

Buy-to-let RMBS continue to improve

1 May 2012

The performance of the UK buy-to-let residential mortgage-backed securities market continued to improve in the three-month period leading up to February 2012, according to Moody’s.

Skipton launches B2L and residential deals

1 May 2012

Skipton Building Society has launched a range of fixed rate mortgages for residential buyers and property investors.

Mainstream lenders have factory farming approach to underwriting, says Jupp

30 Apr 2012

Rob Jupp, managing director of Brightstar Financial, says mainstream lenders have largely given up on individual underwriting in favour of a factory farming approach.

Rent-back still operating despite shutdown by FSA

30 Apr 2012

A number of firms are still offering sale-and-rent-back services despite the Financial Services Authority declaring the market temporarily shut less than three months ago.

Santander's gross mortgage lending jumps by a third

26 Apr 2012

Santander UK increased its gross lending by 34% in Q1 2012, its results reveal today.

FSA warns 75,000 people about financial conmen

24 Apr 2012

The Financial Services Authority is contacting 76,732 people to let them know they are targets for fraudsters trying to con them out of their money.

Stonehaven launch in Scotland

23 Apr 2012

Equity release specialist Stonehaven has launched into the Scottish market.

Manor Mortgages appointed to Shawbrook panel

23 Apr 2012

Manor Mortgages has been appointed to the panel of Shawbrook Bank.

Coventry Intermediaries cuts rates by up to 0.3%

23 Apr 2012

Coventry Intermediaries has reduced rates on selected products across its residential and buy-to-let range.

Mortgage Brain launches mobile app

23 Apr 2012

Mortgage Brain has launched a mobile application to promote brokers and mortgage products to UK consumers.

Manchester cuts back on interest-only lending

20 Apr 2012

Manchester Building Society is cutting back on its interest-only lending and says it will now only offer it through selected brokers.

Persimmon reports pick up in enquiries

19 Apr 2012

House builder Persimmon has reported a good start to the year, with a rise in enquiries and orders.

Two men jailed for mortgage fraud

19 Apr 2012

Two Slough men have been jailed for a total of twelve and a half years after being found guilty of multiple mortgage frauds.

Mortgage fraud up 8% in 2011

18 Apr 2012

Fraudulent applications for mortgages increased by 8% in 2011, according to Experian.

95% LTV mortgage availability doubles in one year

16 Apr 2012

The number of mortgage products at 95% LTV has more than doubled over the past year, from just 27 to 61 today, according to figures from Moneyfacts.

FSA to give key note speech at Manchester Expo

16 Apr 2012

The Financial Services Authority is to deliver the key note speech at the Mortgage Business Expo Manchester 2012.

Halifax launches two products for NewBuy

16 Apr 2012

Halifax has become the fourth lender to launch a range of 95% LTV deals for the government’s NewBuy Guarantee scheme.

Nationwide joins AMI as associate member

13 Apr 2012

Nationwide for Intermediaries has joined the Association of Mortgage Intermediaries as an associate member.

Paragon acquires RBS unsecured loan portfolio

12 Apr 2012

The Paragon Group of Companies has acquired further unsecured consumer loans, through its Idem Capital Securities subsidiary, from The Royal Bank of Scotland.

Abbey revamps mortgage range

11 Apr 2012

Abbey for Intermediaries is amending the rates on selected two-year and three-year fixed rate products at 60% and 75% LTV.

Mortgage fees increase 27% in three years

11 Apr 2012

The average mortgage fee has increased by over £300 in the last three years, shows the latest figures from Moneyfacts.

Average age of first-time buyer is 30

11 Apr 2012

The average age of a first-time buyer is 30, according to research from Clydesdale and Yorkshire Banks.

Bank of England keeps rates on hold

5 Apr 2012

The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 0.5% and to maintain the size of the asset purchase programme.

Coreco announces tie-up with Stirling Ackroyd

4 Apr 2012

The Coreco Group has signed an introducer referral agreement with London estate agents, Stirling Ackroyd

Coventry launches five-year fixes from 3.99%

3 Apr 2012

Coventry Building Society has launched a range of offset, fixed, base rate tracker and buy-to-let mortgage products with a range of fee options.

Sophie Hall joins Avelo as head of intermediary

2 Apr 2012

Sophie Hall, former director of business development at Intelliflo, has joined Avelo as its head of intermediary.

Co-op to increase SVR from 4.24% to 4.74%

2 Apr 2012

The Co-operative Bank will be raising its standard variable mortgage rate by 0.5%, from 4.24% to 4.74%, from May 1 2012.

Brokers slam NewBuy distribution

2 Apr 2012

Lenders have been accused of giving the intermediary market the cold shoulder by offering their 95% LTV NewBuy products to only a small number ofbrokers.

CML fights for non-advised sales in MMR response

30 Mar 2012

The Council of Mortgage Lenders has submitted its response to the Mortgage Market Review, in which it calls for lenders’ call centre staff to be exempt from offering advice.

SHIP to launch revamped trade body in May

29 Mar 2012

Following the announcement that Nigel Waterson is to become chairman of trade body Safe Home Income Plans, the organisation will be relaunching on May 28 to represent the whole of the equity release industry.

FSA bans and fines former Cattles directors

28 Mar 2012

The Financial Services Authority has fined and banned two former directors of Cattles and its subsidiary Welcome Financial Services, for publishing misleading information to investors about the credit quality of Welcome’s loan book.

Precise Mortgages introduces three and five-year fixes for near-prime

28 Mar 2012

Precise Mortgages has launched a range of three and five-year fixes for its near-prime range.

Coventry launches offset and B2L deals

27 Mar 2012

Coventry Intermediaries has launched a new range of offset and buy-to-let products with flat fees.

Coutts fined £8.75m for anti-money laundering control failings

26 Mar 2012

The Financial Services Authority has fined Coutts & Company £8.75m for failing to take reasonable care to establish and maintain effective anti-money laundering systems and controls relating to high risk customers, including Politically Exposed Persons.  

NewBuy Guarantee filter available on Mortgage Brain

26 Mar 2012

Mortgage Brain has developed and launched a NewBuy Guarantee scheme filter to enable brokers to identify mortgages from lenders that have recently brought out specific NewBuy products.

Mortgage Brain completes MortgageStream acquisition

22 Mar 2012

Mortgage Brain has completed the acquisition of point-of-sale and case management system provider, MortgageStream.

Budget 2012: What to expect

21 Mar 2012

Chancellor George Osborne will deliver his third budget at 12.30pm today, in which he is expected to announce a hike in Stamp Duty for £2m homes.

FSA bans director of mortgage brokerage

20 Mar 2012

The Financial Services Authority has banned mortgage brokerage director Martin Russell Lafrance, for not having the proper systems and controls in place to detect financial crime.

Nationwide restructures mortgage division

20 Mar 2012

Martyn Dyson, head of mortgages at Nationwide, has been appointed head of general insurance at the society as part of a restructure of its mortgage division.

Inflation falls to 3.4%

20 Mar 2012

The UK consumer prices index fell to 3.4% in February 2012, down from 3.6% in January, the latest figures from the Office for National Statistics show.

Virgin Money to no longer offer fast track

19 Mar 2012

Virgin Money is to no longer offer a fast track facility for mortgage applications.

Kevin Ronaldson to leave Intrinsic Financial Services

16 Mar 2012

Intrinsic Financial Services has today announced that deputy chairman and group marketing director Kevin Ronaldson has decided to leave the business.

Mortgage Advice Bureau reports £1.9m pre-tax profit

15 Mar 2012

The Mortgage Advice Bureau has reported a pre-tax profit of £1.9m for 2011, up from £1.25m in 2010.

TBMC offers 80% LTV BTL with Kent Reliance

15 Mar 2012

TBMC has launched a 80% LTV buy-to-let mortgage with Kent Reliance.

Legal & General reports pre-tax profits of £956m

14 Mar 2012

Legal & General has reported a pre-tax profit of £956m for 2011, slightly down from a £1.1bn profit in 2010.

FSA may implement some MMR changes earlier than 2013

13 Mar 2012

The Financial Services Authority says it may impose aspects of its Mortgage Market Review earlier than 2013.

House purchase loans down 25% in January compared to December

13 Mar 2012

There were 35,600 loans worth £5.3bn taken out for house purchases in January, a fall of 25% by volume and 24% by value compared to December 2011.

FSA finds Bank of Scotland guilty of serious misconduct

9 Mar 2012

The Financial Services Authority has found Bank of Scotland guilty of serious misconduct, following its enforcement investigation into HBOS.

OFT to revoke Yes Loans' licence

8 Mar 2012

The Office of Fair Trading has decided that Yes Loans, one of the UK’s largest brokers of unsecured credit, is unfit to hold a consumer credit licence.

Bank of Ireland increases SVR from 2.99% to 4.49%

7 Mar 2012

Bank of Ireland has become the latest lender to increase its standard variable rate, increasing it from 2.99% to 4.49%.

Lenders may not be ready for MIG launch next Monday

6 Mar 2012

There are fears that mortgage lenders will not be ready for the launch of the  government’s NewBuy Guarantee scheme on Monday.

Pink appoints Zurich to protection panel

6 Mar 2012

Pink has added Zurich Financial Services to its network protection panel.

Mortgage broker jailed for fraud

2 Mar 2012

A fraudulent mortgage broker has been sentenced to two and a half years in prison following an investigation by financial investigators from the Metropolitan Police Service.

Fifth of BTL applications from accidental landlords

2 Mar 2012

A fifth of Platform’s recent buy-to-let business has come from accidental landlords - where homeowners choose to rent their existing property instead of selling it when they are looking to move to a new home.

LSL Property Services reports pre-tax profits of £17.6m

1 Mar 2012

LSL Property Services has reported a pre-tax profit of £17.6m for 2011, compared to £36m in 2010.

ASA bans another SpicerHaart ad

29 Feb 2012

The Advertising Standards Authority has banned another advertisement from the SpicerHaart Group, trading as Darlows.

Skipton triples mortgage lending and reports profits of £22.2m

28 Feb 2012

Skipton building Society has reported pre-tax profits of £22.2m for 2011, compared to £35.0m in 2010.

Evolution Money offers secured loans in Northern Ireland

28 Feb 2012

Evolution Money will be offering secured loans in Northern Ireland from March 1.

FSA bans two brokers

24 Feb 2012

The Financial Services Authority has fined Devon based Mark Joseph Laurenti of Independent Mortgage Advisory Service Limited £14,000 for negligently submitting repeated mortgage applications containing inaccurate customer information.

Lloyds reports £3.5bn loss and drop in mortgage lending

24 Feb 2012

Lloyds Banking Group has reported a pre-tax loss of £3.5bn for 2011, after setting aside £3.2bn to cover for claims relating to the mis-selling of payment protection insurance.

PPI redress hit £1.9bn in 2011

22 Feb 2012

Firms paid out £1.9bn in payment protection insurance redress last year, the latest figures from the Financial Services Authority show.

ASA bans ad from property website

22 Feb 2012

The Advertising Standards has banned an advert from property website PropertyWikia, which offered to pay affiliates £100 for every week that the site did not sell a property.

United Trust Bank expands bridging sales team

21 Feb 2012

United Trust Bank has boosted its bridging sales team with the appointment of Gerard Morgan Jackson.

Leeds makes interest-only changes

20 Feb 2012

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

20 Feb 2012

Abbey for Intermediaries will no longer pay a proc fee to brokers for borrowers who port their interest-only mortgage over 50% LTV.

TrigoldCrystal launches latest version of Prospector

16 Feb 2012

TrigoldCrystal has today launched the latest upgrade to its sourcing system Prospector.

Brilliant Solutions adds MBS Lending to panel

15 Feb 2012

Brilliant Solutions has added Melton Mowbray Building Society to its lending panel.

ASA bans NatWest and RBS ads

15 Feb 2012

The Advertising Standards Authority has upheld a complaint against two television ads for NatWest and The Royal Bank of Scotland, which claim to provide banking services wherever they are the “last bank in town”.

B2L makes up over 23% of brokers' business

14 Feb 2012

Some 23.3% of intermediaries’ business is now buy-to-let, compared to 19.3% a year ago, shows the latest research from Paragon Mortgages.

Barclays launches Future Fix mortgage

13 Feb 2012

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.

Promise adds Dragonfly to its sourcing portal

13 Feb 2012

Promise Solutions has added Dragonfly to its sourcing portal for seocnd charge loans, taking the number of lenders on its system to 14.

First-time buyer mortgages up 7% in December

13 Feb 2012

The number of first-time buyers increased by 7% in December 2011, compared with the previous month, according to the Council of Mortgage Lenders.

Tiuta extends large loan funding line

9 Feb 2012

Tiuta has extended and doubled its large loan funding line to £60m, for use over the next few months.

Lenders may be forced to cap LTVs, says Osborne  

7 Feb 2012

Chancellor George Osborne says the Bank of England’s Financial Policy Committee will have the power to curb high LTVs in order to prevent an unsustainable rise in house prices.

Tesco to launch into mortgages in the next few months

6 Feb 2012

Tesco Bank says it is on track to launch into the mortgage market in the next couple of months.

Dragonfly adds new calculators to website

6 Feb 2012

In an effort to help brokers crunch the numbers when working through deals with their clients, short and medium-term lender, Dragonfly Property Finance has added three calculators to its website.

John Charcol's mortgage director joins Which? mortgage advisers

3 Feb 2012

Mike Lawton has left his role as mortgage director at John Charcol, to join Which?’s mortgage advice service as managing director.

FSA to increase mortgage broker fees

2 Feb 2012

The Financial Services Authority has today revealed its Annual Funding Requirement for 2012/13, which includes an increase in the fees mortgage brokers will pay.

State Bank of India joins CML

1 Feb 2012

The State Bank of India has joined the Council of Mortgage Lenders.

Shapps in talks with Royal Mail and BBC to find unused land

1 Feb 2012

Housing Minister Grant Shapps says he is working with organisations including the BBC, Network Rail and the Royal Mail, to identify unused land and buildings that could be released for house-building.

New lender launches into secured loan market

1 Feb 2012

A new lender, Equifinance, has launched into the secured loan market, offering its products through Loans Warehouse.

L&G Mortgage Club offers two 95% LTV deals

31 Jan 2012

Legal & General’s Mortgage Club has launched two 95% LTV deals in conjunction with the Newcastle Building Society.

Brightstar Financial makes new appointments

31 Jan 2012

Brightstar Financial has recruited two new members to its team.

Lloyds launches securitisation

30 Jan 2012

Lloyds Banking Group has launched a securitisation deal, backed by a pool of UK prime residential mortgage loans.

State Bank of India to launch residential mortgages in August

30 Jan 2012

State Bank of India has confirmed that it will launch a range of residential mortgages in the UK in August.

Gateway surveyors become associate member of BSA

30 Jan 2012

Gateway surveyors has joined the Building Societies Association as an associate member.

Bridgebank Capital appoints head of marketing

26 Jan 2012

Bridgebank Capital has appointed Emma Hodson, to fulfil a new role as head of marketing.

Tiuta launch iphone and ipad app

24 Jan 2012

Tiuta has launched a new loan calculator app for iphone and ipad users.

First Complete expands GI panel

24 Jan 2012

First Complete has expanded its general insurance panel adding insurer Delta, in addition to Halifax and Abbey GI which were added to the panel at the latter part of last year.

Masthaven launches renovation and refurbishment bridge

23 Jan 2012

Masthaven Bridging Finance has launched a renovation and refurbishment bridging loan.

FSA fines Direct Line and Churchill £2.17m

18 Jan 2012

The Financial Services Authority has fined Direct Line Insurance and Churchill Insurance £2.17m for failing to prevent files that the FSA had requested from being improperly altered.  

Skipton launches three and five-year fixes

17 Jan 2012

Skipton Building Society is launching a new suite of three and five-year fixed rate mortgages on Thursday, with reduced rates of up to 0.40%.

Abbey expands its B2L offering and cuts existing rates

16 Jan 2012

Abbey for Intermediaries is boosting its buy-to-let range with the launch of four products and rate cuts of up to 0.20% on its existing range.

Stephen Gay departs AMI

13 Jan 2012

The Association of Independent Financial Advisers has today announced that Stephen Gay, director- general of AIFA and the Association of Mortgage Intermediaries, is to leave the organisation.

Virgin Money vows to stay true to brokers

12 Jan 2012

Virgin Money has vowed to stay true to brokers, following its acquisition of Northern Rock on January 1 2012.

Martin Reynolds appointed chief executive of SimplyBiz Mortgages

12 Jan 2012

The SimplyBiz Group has appointed Martin Reynolds to the newly created role of chief executive of SimplyBiz Mortgages.

Nationwide launches 90% LTV two-year fixed rate

12 Jan 2012

Nationwide has launched a two-year fixed rate at 90% LTV for first-time buyers, home movers and existing customers moving home.

Shawbrook launches online broker tool

9 Jan 2012

Shawbrook Bank has launched an online tool for its commercial mortgage brokers.

Negligence claims could drop after GMAC-RFC vs Countrywide verdict

9 Jan 2012

A ruling in a High Court case between GMAC-RFC and Countrywide Surveyors could result in fewer lenders making claims of negligence against surveyors.

TMA appoints two new regional sales managers

4 Jan 2012

TMA has appointed two regional sales managers, Julie Johnston and Lee Loizou.

UK house prices up 1% in 2011

3 Jan 2012

House prices fell by 0.2% in December but increased by 1% throughout 2011, according to Nationwide Building Society.

IMLA predicts gross mortgage lending of £130bn in 2012

3 Jan 2012

Members of the Intermediary Mortgage Lenders Association are expecting gross mortgage lending of £130bn in 2012, down from £138bn in 2011.

AR completions up 34% at Pink

20 Dec 2011

Completion figures at Pink were up 28% in Q3 compared to Q2 of 2011.

MMR: Affordability may be assessed on interest-only basis

19 Dec 2011

In some circumstances lenders may assess a borrower’s affordability on an interest-only basis, says the Financial Services Authority.

MMR: FSA to scrap IDD

19 Dec 2011

The Financial Services Authority is removing the need for the Initial Disclosure Document as part of its Mortgage Market Review proposals.

HML provides administration services to facilitate BoI's mortgage deal

15 Dec 2011

HML has completed the migration of £1.2bn worth of mortgages from Bank of Ireland, facilitating a sale of the assets.

87% more products on the market than one year ago

14 Dec 2011

The number of mortgage products on the market has increased by 87% during the past year, shows Mortgage Brain’s monthly product analysis.

New buyer enquiries up in November

13 Dec 2011

Buyer demand for property in the UK rose during November, but the current economic uncertainty continues to hold the market back from any meaningful recovery, says the latest RICS UK Housing Market survey.

Jonathan Cornell to join FSA

9 Dec 2011

Mortgage industry guru Jonathan Cornell is set to join the Financial Services Authority as an analyst in its retail intermediaries and mortgage sector team in 2012.

NatWest launches new broker site

9 Dec 2011

NatWest Intermediary Solutions has launched a new website for brokers, with the aim of making it easier for them to do business with it.

Precise launches fast-track

9 Dec 2011

Precise Mortgages has launched a fast-track process for its unregulated bridging and light refurbishment product range.

Key Retirement Solutions denies takeover talks

7 Dec 2011

Key Retirement Solutions says it is not in takeover talks but is looking at its funding options.

Dragonfly hits out at AMI for comments about bridging firms

6 Dec 2011

Dragonfly Property Finance has hit out at comments by Robert Sinclair, director of the Association of Mortgage Intermediaries about unregulated bridging firms.

Towergate on acquisition trail for mortgage firms

5 Dec 2011

Towergate Financial has revealed that it is actively looking to acquire financial planning and mortgage broking businesses.

JC Flowers eyeing up UK mortgage books

5 Dec 2011

JC Flowers, the American private equity firm, is reported to be looking to buy UK mortgage books.

Islamic Bank of Britain launches Sharia compliant B2L mortgage alternative

1 Dec 2011

Islamic Bank of Britain has entered the buy-to-let mortgage market with the launch of its Sharia compliant buy-to-let purchase plan.

Kensington withdraws securitisation

30 Nov 2011

Investec, the parent company of Kensington, has withdrawn its £204m securitisation as a result of the current market conditions.

Promise offers self-cert secured loan

25 Nov 2011

Promise Solutions, the loan master broker, is offering a new secured loan product for applicants who can not prove income in a conventional manner and have significant adverse credit.

CHL arrears below industry average

25 Nov 2011

CHL Mortgages has revealed that the number of its buy-to-let loans in arrears is below the industry average.

Banks' gross mortgage lending up 4%

23 Nov 2011

High street banks carried out gross mortgage lending of £8.0bn in October, down from £8.4bn in September, but 4% higher than in October 2010.

MBE 2012 heading to ExCeL

23 Nov 2011

The Mortgage Business Expo 2012 will be taking place at the ExCeL exhibition and conference centre.

Paragon reports pre-tax profits of £80.8m

22 Nov 2011

The Paragon Group of Companies, Paragon Mortgages’ parent company, has reported a profit before tax of £80.8m for the year ended September 30 2011, up from £71.8m the previous year.

FSA has spent almost £3m on MMR

21 Nov 2011

The Financial Services Authority has spent over £2.7m so far on the Mortgage Market Review, Mortgage Strategy can reveal.

IMLA unveils its 2012 executive board

17 Nov 2011

Following its Annual General Meeting in London today The Intermediary Mortgage Lenders Association has announced its 2012 executive board.

FSA bans broker for fraud and fines him £195,117

17 Nov 2011

The Financial Services Authority has fined John Folan, a director and adviser at Key Mortgage Associates, £195,117 for insurance fraud and prohibited him from carrying on regulated financial services.

MBE 2011: No interest rate increase until 2013

16 Nov 2011

Interest rates will not increase until at least 2013, some of the top UK mortgage lenders have predicted.

MBE 2011: Bank based mortgage advice is failing

16 Nov 2011

Offering mortgage advice in branch is failing, says Paul Shearman, proposition director at Openwork.

Brokers receive six enquires a month from self-employed

15 Nov 2011

The average mortgage intermediary receives six enquiries from clients who consider themselves to be self-employed each month, according to research by Kensington.

Economic uncertainty not stifled need for regulation, says Hoban

10 Nov 2011

The current economic uncertainty in the UK has not stifled the need for regulatory reform of the financial markets, says Mark Hoban, the financial secretary to the Treasury.

Ian Baker joins Largemortgageloans

10 Nov 2011

Ian Baker, the former sales director of Capital Private Finance, has joined Largemortgageloans.com as senior mortgage manager.

Failed TrigoldCrystal takeover cost Mortgage Brain more than £400,000

9 Nov 2011

Mortgage Brain lost £418,000 as a result of the Office of Fair Trading terminating its merger plans with TrigoldCrystal.

Bright Grey launches iPhone app

9 Nov 2011

Bright Grey has launched Bright Touch, a free iPhone app that allows advisers to access product information wherever they are

Coventry launches new deals

8 Nov 2011

Coventry Intermediaries has launched a new range of residential and buy-to-let deals, many with no arrangement fees or ERCs.

LSL to acquire London estate agency

4 Nov 2011

LSL Property Services is set to acquire London estate agency Marsh & Parsons.

Shawbrook Bank teams up with Target

3 Nov 2011

Specialist loans and savings bank, Shawbrook, has appointed financial outsourcing provider, Target Group, to manage and service its growing commercial mortgage portfolio. 

Nothing wrong with lenders giving ‘advice’, says FSA

3 Nov 2011

Mortgage lenders should still be able to say they offer advice, even if they do not compare products from across the whole of the market, says the Financial Services Authority.

Mortgage products remain at three-year high

3 Nov 2011

The number of mortgage products available to UK mortgage intermediaries has remained at a three-year high for the second month running, according to figures released today from Mortgage Brain’s Monthly Product Analysis.

Paragon to launch £150m securitisation

2 Nov 2011

The Paragon Group of Companies, the parent company of Paragon Mortgages, is to launch a £150m securitisation.

Barclays increases LTV on B2L to 75%

2 Nov 2011

Barclays, through its mortgage arm Woolwich, has increased the LTV on its buy-to-let range to 75%, up from 60%.

Abbey adds completion to case tracking system

31 October 2011

Brokers will now be updated by Abbey for Intermediaries when their mortgage case completes.

Senior executives make sudden exit from HML

31 October 2011

Two of HML’s senior bosses departed the firm last week.

Complete FS offers 85% buy-to-let

28 Oct 2011

Mortgage distributor and packager Complete FS has launched an 85% buy-to-let product through Kent Reliance.

Paragon acquires unsecured loan portfolio from RBS

27 Oct 2011

The Paragon Group of Companies has acquired a portfolio of unsecured consumer loans from The Royal Bank of Scotland.

Key Retirement Solutions teams up with Unique

26 Oct 2011

Key Retirement Solutions and Unique Insurance Services have teamed up to launch a countrywide equity release service.

Norton teams up with TenetLime

25 Oct 2011

Norton Broker Services has been chosen as TenetLime’s preferred affinity partner for secured loans.

Teachers Building Society offers 3.99% B2L deal

24 Oct 2011

Teachers Building Society has launched a two-year 3.99% discounted variable rate buy-to-let mortgage.

Coventry Intermediaries appoints Kevin Purvey as head of national accounts

24 Oct 2011

Coventry Intermediaries has appointed Kevin Purvey, the former head of sales at Cheltenham & Gloucester and Scottish Widows Bank, as its new head of national accounts.

GE Money Home Lending offers mortgages to self-employed

24 Oct 2011

GE Money Home Lending will start offering mortgages to self-employed customers from November 1.

AMI promises to take up fake PPI claims with FOS

24 October 2011

The Association of Mortgage Intermediaries is asking brokers to send it fictitious payment protection insurance claims they receive from claims firms so it can give them to the Financial Ombudsman Service.

Industry reacts with hostility to Shapps' call for long-term fixes

24 October 2011

Housing minister Grant Shapps faced a backlash from the industry last week after urging lenders to offer 30-year fixed rate mortgages.

Another bright idea from Shapps

20 Oct 2011

At the Pink Home Loans conference last week, Robert Sinclair, director of the Association of Mortgage Intermediaries, accused housing minister Grant Shapps of being “invisible” and failing to make a name for himself by solving the UK housing crisis.

Mortgage rates 2.41% lower than three years ago

20 Oct 2011

The average interest rate of purchase and remortgages applied for by Countrywide’s customers has fallen by 2.41% over the last three years to 3.71% in September 2011 – its lowest rate since September 2008.

1.8 million borrowers paying less on SVR than fixed rates

20 Oct 2011

Around 1.8 million mortgage holders whose fixed rate deals have come to an end are paying on average £2,600 a year less on their lender’s reversionary variable rate.

Gross mortgage lending down 2% in September

20 Oct 2011

Gross mortgage lending totalled an estimated £12.9bn in September, down 2% from the £13.1bn lent in August but 4% higher than September 2010, according to new data from the Council of Mortgage Lenders.

MPC members were unanimous on QE

19 Oct 2011

The minutes from October’s Monetary Policy Committee meeting show all members voted for an additional £75bn of quantitative easing.

Paymentcare launches Landlords' building and contents policy

18 Oct 2011

Paymentcare has launched a new landlords only policy, offering brokers 30% commission.

81% of best buy deals offered direct, claims HSBC

18 Oct 2011

Direct mortgage lenders offered 81% of the deals in the best buy tables in the past year, according to HSBC.

Stamp Duty should be abolished for FTBs, says think tank

17 Oct 2011

Abolishing Stamp Duty for first-time buyers would help aid UK growth by stimulating the housing and construction industries, says a report out today from the Ernst & Young ITEM Club.

Nationwide buys Bank of Ireland mortgage portfolio

17 Oct 2011

Nationwide Building Society has acquired part of Bank of Ireland’s UK residential mortgage portfolio.

MMR proposals will be sensible, says AMI

17 October 2011

The final Mortgage Market Review proposals will be more sensible than the draft ones, predicts Robert Sinclair, director of the Association of Mortgage Intermediaries.

Santander promises B2L caution

17 October 2011

Bill Gray, deputy chief credit officer at Santander, says the lender has learnt from its past mistakes in buy-to-let and will not re-enter the market until it is confident it can offer a good service.

ASA bans ad from PPI claims firm

12 Oct 2011

The Advertising Standards Authority has banned an advertisement from Manchester based PPI Careline, for being misleading

Chelsea Building Society enters offset mortgage market

11 Oct 2011

Chelsea Building Society is entering the offset mortgage market through its branch network.

Precise Mortgages launches preferred packager panel

11 Oct 2011

Precise Mortgages has launched a short-term lending preferred packager panel called Premier Panel.

Housing supply falls as demand increases

11 Oct 2011

Fewer vendors put their homes up for sale during September, as fears over the economy continued to impact negatively on the housing market, according to the Royal Institution of Chartered Surveyors.

No interest rate change for months, says MPC member

10 Oct 2011

Monetary Policy Committee member David Miles says it is unlikely the Bank of England base rate will change in the next few months.

Gina Fry joins United Trust Bank

10 Oct 2011

United Trust Bank has appointed Gina Fry as a case manager.

Banks put brave face on downgrade by Moody's

10 October 2011

Lloyds TSB has shrugged off its ratings downgrade by Moody’s.

Liz Locke leaves Omni for One Hyde Park

7 Oct 2011

Liz Locke, business development director at Omni Capital, is leaving the bridging lender to join the Candy & Candy core sales team at One Hyde Park.

Abbey expected to launch into B2L by end of the year

6 Oct 2011

Abbey for Intermediaries is believed to be planning to enter the buy-to-let market before the end of the year.

Bank increases QE by £75bn

6 Oct 2011

The Bank of England’s Monetary Policy Committee has increased its quantitative easing programme by £75bn to £275bn, but kept interest rates on hold at 0.5%.

Nationwide launches securitisation

5 Oct 2011

Nationwide Building Society has launched a securitisation deal backed by a pool of prime residential mortgages.

Gareth Lewis joins Precise Mortgages

5 Oct 2011

Gareth Lewis, the former head of business development at Tiuta, has joined Precise Mortgages as its head of sales.

Tesco confirms its mortgage launch is delayed

5 Oct 2011

Tesco has confirmed that its launch into the mortgage market has been delayed until early 2012.

Redundancy threatens staff as GE aims to restructure its operations

03 October 2011

A number of staff have been placed in consultation for redundancy at GE Money Home Lending.

FSA fines director £100,000 for mortgage fraud

30 Sep 2011

The Financial Services Authority has today published a decision notice, indicating that it has decided to ban and impose a fine of £100,000 on Raymond Wagner, the director of Ambergate Business Services Limited, a mortgage broker based in London.

Complaints about mortgage firms at all-time high

28 Sep 2011

Data released by the Financial Services Authority today shows there were 30,014 complaints about mortgage firms in the first six months of the year, the highest number since the regulator started compiling the figures in 2006.

Skipton launches 95% LTV new-build mortgage

26 Sep 2011

Skipton Building Society has teamed up with its estate agency subsidiary Connells Group to offer a 95% LTV mortgage for new-build properties.

State Bank of India will offer deals via brokers

26 Sep 2011

State Bank of India plans to launch a range of buy-to-let and residential mortgages in the UK through brokers next year.

Gareth Lewis quits Tiuta

23 Sep 2011

Gareth Lewis, head of business development at Tiuta has left the firm.

Platform launches new buy-to-let and residential deals

22 Sep 2011

Platform has launched a new range of buy-to-let mortgages and a new range of 80% and 85% LTV residential deals.

Tribunal upholds OFT's decision to revoke JST Financial Solution's licence

21 Sep 2011

A tribunal has upheld the Office of Fair Trading’s decision to revoke the licence of JST Financial Solutions because the company allowed a convicted fraudster to become involved in its business.

Former Virgin Money MD appointed new head of borro

21 Sep 2011

Online short term asset lender borro has appointed Claire Gates as its new managing director.

Kensington pulls 85% BTL and 90% residential deals

21 Sep 2011

Kensington is pulling its 85% LTV buy-to-let deals and its 90% LTV residential mortgages tonight.

HSBC launches 20-minute mortgage decision system

20 Sep 2011

HSBC has launched two new online mortgage services, one of which allows customers to receive a mortgage decision within 20 minutes.

Regulator bans broker and fines him £250,000

19 September 2011

The Financial Services Authority imposed its second largest fine on a mortgage broker last week for misleading the regulator and submitting false mortgage applications.It has banned Selvavinayakam Vigneswaran, the sole director of Futture Finance Limited, and fined him £250,000.The largest fine was in June 2010 to John Charalambous, trading as TFA in Sidcup, Kent. He was fined £294,500 for mortgage and life insurance fraud.In October 2007, the FSA ...

Abbey cuts fixed rates by up to 1.10%

15 Sep 2011

Abbey for Intermediaries is cutting rates on a range of its two, three, four and five-year fixed mortgage products by up to 1.10%.

Key Retirement Solutions teams up with Freemans

14 Sep 2011

Key Retirement Solutions has formed a partnership with mail order company Freemans Grattan Holdings.

Chesterton Humberts buys into Springtide Capital

14 Sep 2011

Property consultant Chesterton Humberts has agreed to acquire a significant share in Springtide Capital, a mortgage advisory firm which specialises in arranging six and seven figure mortgages.

Unemployment rises by 80,000

14 Sep 2011

The total number of unemployed people increased by 80,000 in the three months to July to reach 2.51 million - the largest quarterly increase in unemployment since the three months to August 2009.

Inflation rises to 4.5%

13 Sep 2011

The rate of Consumer Prices Index inflation rose to 4.5% in August, up from 4.4% in July, according to figures from the Office for National Statistics.

HML accounts reveal FSA probe in 2010

12 Sep 2011

HML’s 2010 accounts show the mortgage servicer was subject to a Financial Services Authority investigation in 2010.

L&C heads for profit this year after fall in 2010 loss

12 Sep 2011

London & Country Mortgages says it is on track to make a profit this year, after improving on its £3m loss in 2009 by over two-thirds in 2010.

Job losses on the cards as Xit2 plans relocation to Kent

12 September 2011

Xit2 plans to relocate its head office from Oxford to Kent, which will result in redundancies at the firm.The mortgage and property outsourcing specialist was acquired by Decision Insight Information Group in January 2011. Xit2 is moving its base from Charlbury to DIIG’s European headquarters in Kent.Mark Blackwell, managing director of xit2, says the move makes commercial sense as the lease is due to expire on its Charlbury offices.He says: “The ...

Swift's unfair client fees result in a £630,000 fine

12 September 2011

Lancashire Mortgage Corporation launches auction product

8 Sep 2011

Lancashire Mortgage Corporation has launched a new pre-approved auction purchase product.

Swift fined by FSA and ordered to pay £2.35m redress

8 Sep 2011

The Financial Services Authority has fined Essex based mortgage lender Swift 1st Limited £630,000 for unfair treatment of some customers facing mortgage arrears.

Redundancies at Y3S

7 Sep 2011

Specialist broker Y3S Group is making a number of redundancies in its life insurance department.

Bank of Scotland tops mortgage complaints list

6 Sep 2011

Figures released by the Financial Ombudsman Service today reveal that the Bank of Scotland received the highest number of mortgage complaints between January and June 2011.

Abbey cuts rates by up to 1%

5 Sep 2011

Abbey for Intermediaries has launched a new range of three, four and five-year fixed mortgage products and reduced rates by up to 1% across its range.

Dragonfly acquires Maslow Capital

5 Sep 2011

Dragonfly Property Finance has acquired specialist mezzanine lender Maslow Capital.

Elderly locked out of market as Leeds pulls its 80-plus mortgages

5 September 2011

Mortgages for people over 80 have become extinct following Leeds Building Society’s decision to stop lending to 85 year olds last week.Leeds was the last lender to offer mortgages to those aged 85 but it has now reduced its age limit to 80, with the maximum age at application set at 70.If the loan term extends into retirement, an additional affordability assessment may be required, based on expected retirement income.The society is offering a specialist ...

TrigoldCrystal loses out as L&G and MAB switch to other systems

5 September 2011

MARTIN COLYER - BUSINESS IS NOT AFFECTED

Sesame Bankhall Group appoints head of group sales

1 Sep 2011

Sesame Bankhall Group has appointed David Kafetz as head of group sales.

Leeds reduces maximum lending age to 80

31 Aug 2011

Leeds Building Society has reduced its maximum lending age from 85 to 80 years old.

Nationwide reduces five-year fixed rate mortgages

31 Aug 2011

Nationwide is reducing all five-year fixed mortgage rates by 0.1% for new applications.

Principality offers 95% LTV mortgage to first-time buyers

31 Aug 2011

Principality Building Society has launched a 95% LTV first-time buyer mortgage.

Failed firm could saddle FSCS with £45m PPI bill

29 August 2011

The Financial Services Compensation Scheme could face a £45m bill from potential mis-selling claims brought against Wilmslow Financial Services, which formerly traded as Freedom Finance plc.

One in six homes are now privately rented as B2L continues to expand

29 August 2011

BOB HUNT, MUST MAINTAIN DEPOSIT LEVELS

Vertex put on negative watch after DB Mortgages cancels its contract

29 August 2011

DB Mortgages has terminated its servicing contract with Vertex Mortgage Services a year early and switched to Target Loan Servicing.

CHL arrears show signs of improvement

26 Aug 2011

CHL Mortgages has revealed a further quarterly improvement in the arrear levels of its buy-to-let mortgage book.

Chelsea launches 10-year fix at 3.99%

26 Aug 2011

Chelsea Building Society has launched a 10-year fixed rate mortgage at 3.99% and made cuts to its five, six and seven-year mortgage, where the borrower chooses the term, to 3.69%.

Norton increases commission

25 Aug 2011

Norton Broker Services is introducing a new commission structure, which will see its average commission increase by 41%.

Coventry launches 4-year fix at 4.49%

24 Aug 2011

Coventry Intermediaries is launching a number of new fixed rate mortgages including a 4-year fixed rate at 4.49%, up to 85% LTV.

FSA bans mortgage broker for £3m fraud

24 Aug 2011

The Financial Services Authority has banned Yasmin Choudhary, who worked for London-based Adams Financial Services, from carrying out any regulated activities.

House purchase lending up 36% in Scotland

24 Aug 2011

House purchase lending in Scotland rose by more than the UK as a whole in Q2 of 2011, according to the Council of Mortgage Lenders.

FSA cancels mortgage broker's permission over RMAR

23 Aug 2011

The Financial Services Authority has cancelled the permission of Total Independent Mortgages Limited, for failing to submit its Retail Mediation Activities Return.

Banks’ gross mortgage lending down 8% year-on-year

23 Aug 2011

High street banks have reported gross mortgage lending of £7.6bn in July,  8% lower than the £8.3bn of lending in July 2010.

DB Mortgages transfers servicing of £1.6bn book to Target

22 Aug 2011

Former sub-prime lender DB Mortgages is transferring the servicing of its £1.6bn mortgage book from Vertex Mortgage Services to Target Loan Servicing.

Halifax clarifies proof of income requirements to aid processing

22 August 2011

Brokers have welcomed clarification from Halifax on what it will accept as proof of income from borrowers.

Trade bodies to lobby MoJ on rogue firms

22 August 2011

The Association of Mortgage Intermediaries is joining forces with the Council of Mortgage Lenders and the British Bankers’ Association to try and put an end to unscrupulous claims firms.

Cheval increases maximum LTV to 75%

18 Aug 2011

Bridging lender Cheval has increased its maximum LTV on residential first charge loans to 75%.

Savills reports pre-tax profit of £20m

18 Aug 2011

Savills, the former parent company of Savills Private Finance, has reported a pre-tax profit of £20m in the first six months of the year, up 39% on its £14.4m pre-tax profit in the first half of 2010.

Unemployment rises by 38,000

17 Aug 2011

The total number of unemployed people increased by 38,000 in the three months to June to reach 2.49 million.

FOS upholding just 10% of mortgage mis-selling claims

17 Aug 2011

The Financial Ombudsman Service has revealed that it upholds just 10% of all mortgage mis-selling claims made by claims management firms.

Estate agents guilty of parking fraud

16 Aug 2011

Six estate agents have pleaded guilty to fraudulently using flats they were selling to apply for parking permits.

LTVs hit a six-month low

16 Aug 2011

Purchase approvals with an LTV over 85% were the lowest since February, accounting for only 8.5% of all approvals in July, down from 9.4% in June, shows the latest e.surv Mortgage Monitor.

Inflation rises to 4.4% in July

16 Aug 2011

The rate of Consumer Prices Index inflation rose to 4.4% in July, up from 4.2% in June.

TBMC launches 3.99% BTL exclusive with Shepshed

15 Aug 2011

TBMC has launched a new and exclusive buy-to-let mortgage with Shepshed Building Society.

Lenders offer mortgage repayment holiday to riot victims

15 Aug 2011

Lloyds Banking Group and Santander both say they will consider offering mortgage repayment holidays to those affected by the riots.

10% increase in £1m properties up for sale

15 Aug 2011

There were 21,319 residential properties on the market for £1m or more during the second quarter of 2011, research by Investec Specialist Private Bank reveals.  

Two in five are slashing asking prices

15 Aug 2011

More current sellers have reduced the asking price of their home than at any time in the last year, according to property website Zoopla.co.uk

Brokers are urged to inform on each other if they suspect wrong doing

15 August 2011

The Financial Services Authority is calling on brokers to blow the whistle on other brokers they suspect of fraud.A Freedom of Information request by Mortgage Strategy reveals that the regulator has received 181 reports of suspected broker fraud from lenders since it launched its Information from Lenders scheme in 2006.Reports peaked in 2009 with 55 reported cases and so far this year it has received 24.The regulator says it is pleased with the response ...

Lenders set to toughen stance on repossession

15 August 2011

There are fears that forbearance policies are reaching their limits and that lenders will start to take a tougher stance on repossessions.Figures out last week from the Council of Mortgage Lenders show repossessions fell 7% in the first half of 2011, compared with the same period in 2010.There were 9,000 repossessions in Q2 2011, slightly lower than Q1’s 9,100, bringing the total to 18,100 for the first half of the year. This compares with 19,500 in the first ...

Halifax pulling Retirement Home Plan

12 Aug 2011

Halifax is pulling its Retirement Home Plan on Wednesday.

Repossessions down 7% year-on-year

11 Aug 2011

The number of properties taken into possession by first charge mortgage lenders in the first half of 2011 was 7% lower than in the first half of 2010, according to the latest quarterly data from the Council of Mortgage Lenders.

Holloway Friendly appoints new directors

10 Aug 2011

Holloway Friendly has appointed two new directors to its board. 

ASA bans ad by Housing Support Line

10 Aug 2011

The Advertising Standards Authority has banned an advertisement from the Housing Support Line for being misleading.

Further job cuts at Lloyds

9 Aug 2011

Lloyds Banking Group has today announced 1,300 role reductions within its group functions, retail, group operations and wealth and international divisions.

FSA fines and bans mortgage broker

9 Aug 2011

The Financial Services Authority has fined and banned a mortgage broker for submitting false and misleading information to lenders on mortgage applications.

First RMBS issue for Principality as Moody's upgrades society's rating

8 August 2011

Principality Building Society has made its debut into the securitisation market with a £686m issue.

High FSA fees and consolidation to blame as AR numbers slump

8 August 2011

More than 800 appointed representatives have left the mortgage market in the past 12 months, Financial Services Authority figures show.

Pink Home Loans doubles protection sales

5 Aug 2011

Life assurance and protection sales at Pink Home Loans at the end of July are double what they were in January.

Coventry increases gross mortgage lending by 19%

5 Aug 2011

The Coventry Building Society has reported gross mortgage lending of £1.9bn in the first six months of the year, up from £1.6bn in the same period last year.

CDS appoints Richard Hurst as marketing director

4 Aug 2011

Client Data Systems, providers of The Core mortgage sourcing engine has today announced the appointment of Richard Hurst as marketing director for the group.

LSL Property Services reports pre-tax profit of £6.5m

4 Aug 2011

LSL Property Services has reported a pre-tax profit of £6.5m for the first six months of the year, down on £19.7m in the first six months of 2010.

Ex-Money Partners duo joins Omni Capital

3 Aug 2011

Former Money Partners bosses Bob Sturges and Jim Nash have joined Omni Capital.

Rightmove reports pre-tax profit of £28.7m

3 Aug 2011

Property website Rightmove has reported pre-tax profits of £28.7m for the first six months of 2011, up from £24.5m last year.  

FOS receives 56,025 PPI complaints in three months

2 Aug 2011

The Financial Ombudsman Service received 56,025 complaints relating to the mis-selling of payment protection insurance between April and June 2011.

Credit history fraud is on the rise, says CIFAS

1 August 2011

ALAN CLEARY, ’FRAUD PLOYS, ARE NOT NEW’

AMI to establish protection interest group to build knowledge of sector

1 August 2011

The Association of Mortgage Intermediaries is to create a protection interest group following a strategic review of the trade body.

Santander UK’s gross mortgage lending down 21%

27 Jul 2011

Santander UK has seen a 21% fall in gross mortgage lending in the first six months of the year, compared to the first half of 2010.

Skipton's profits plummet but mortgage lending up fivefold

26 Jul 2011

Skipton Building Society increased gross mortgage lending to £717m  in the first half of 2011, up from £141m in first half of 2010, but the society saw a 75% drop in its pre-tax profits.

Alan Dring launches conveyancing tool

25 Jul 2011

Alan Dring, the former director of eConvyancing has launched Jet, a new online tool developed by technology firm Space01 and designed to help meet the needs of conveyancers.

Buy-to-let contributes to 16% rise in lending

25 July 2011

A 16% rise in gross mortgage lending in June has been attributed to a boost in buy-to-let activity.

LSL spreads mortgage wings with joint venture

25 July 2011

ANDREW KNEE: STABILITY IS CRUCIAL

FSA may take enforcement action against HBOS

21 Jul 2011

The Financial Services Authority has confirmed that it has launched an investigation into HBOS and may take enforcement action.

Abbey launches seven-day deal at 2.29%

21 Jul 2011

Abbey for Intermediaries is launching two new key account exclusives on Friday July 22, both of which are available for only seven days.

Seven MPC members voted to keep rates on hold

20 Jul 2011

The latest minutes from the Bank of England’s Monetary Policy Committee show seven members voted to keep interest rates on hold at 0.5% in July.

OFT warns letting agents over unfair contracts

19 Jul 2011

The Office of Fair Trading is warning the letting agents sector to check that their terms and conditions are fair and transparent.

United Trust Bank reduces bridging loan rates

19 Jul 2011

Bridging and development finance specialist, United Trust Bank has today unveiled new rates across its bridging product range.

LSL and Connells acquire stake in LMS

18 Jul 2011

LSL Property Services and Connells have today acquired an interest in Legal Marketing Services and LMS Direct Conveyancing through an investment in Cybele Solutions Holdings Limited, the ultimate parent company of LMS and LMS DC.

George Patellis joins Montello

18 Jul 2011

George Patellis, former chief executive officer at Tiuta has joined London based real estate bridging finance lender and fund manager Montello as a senior adviser.

Google denies UK website is same as its US service

18 Jul 2011

Google has downplayed the launch of its UK mortgage comparison website and says it is not comparable to the service it launched in the US earlier this year.

Doubts cast on chance of recovering Citri debt

18 July 2011

Citri’s liquidator says it is unclear whether it can recoup any of the firm’s £1.8m liabilities.

Nigel Payne's exit from Assurant comes as a surprise to industry

18 July 2011

Nigel Payne

Non-conforming RMBS arrears remain static

14 Jul 2011

The performance of UK non-conforming residential mortgage-backed securities remained largely stable over a three-month period ending in May 2011, according to Moody’s Investors Service.

Crystal Mortgages hits £2m BTL mark in 14 days

14 Jul 2011

Crystal Mortgages has issued terms of over £2m since entering the buy-to-let market just 14 days ago.

UK unemployment falls by 26,000

13 Jul 2011

The total number of unemployed people fell by 26,000 over the three months to May to reach 2.45 million, according to the Office for National Statistics.

Inflation falls to 4.2% in June

12 Jul 2011

The UK inflation rate fell unexpectedly in June to 4.2%, down from 4.5% in May, according to the Office for National Statistics.

Media Spotlight: Dispatches: Landlords From Hell

11 July 2011

Presented by Jon Snow

Interest rates kept on hold at 0.5%

7 Jul 2011

The Bank of England’s Monetary Policy Committee has once again voted to keep the base rate on hold at 0.5%.

First Complete acquires The Mortgage Alliance

6 Jul 2011

LSL Property Services’s financial services arm First Complete has bought The Mortgage Alliance from Santander UK for £250,000.

FSA bans two insurance brokers for misconduct

5 Jul 2011

The Financial Services Authority has banned two insurance brokers, Andrew Porter and Alexander Brincat, from working in the financial services industry.

Y3S launches secured loan sourcing system

4 Jul 2011

Y3S Loans has launched miLoan, a new secured loan sourcing system for mortgage brokers and IFA’s.

AMI snubs lenders over mortgage directive rule

4 July 2011

ROBERT SINCLAIR: PROPOSAL GOOD FOR BROKERS

Japanese firm's £58m to help Portillion launch

4 July 2011

Portillion has secured over £58m in investment from SBI Group of Japan and has set a launch date of January 1 2012.

HSBC to cut 700 jobs but increase mortgage advisers

30 Jun 2011

HSBC has announced plans to shed up to 700 jobs from its UK business, but is creating 50 mortgage adviser roles.

AToM launches BTL exclusive with Hinckley & Rugby

30 Jun 2011

AToM is offering a 3.99% two-year fixed buy-to-let exclusive product from the Hinckley & Rugby Building Society.

Do banks need to kill off the claims firms they created?

29 Jun 2011

The claims management industry was no doubt rubbing its hands with glee when the Financial Services Authority announced that lenders must reimburse those who were mis-sold payment protection insurance.

BBA: We need to win the argument with Europe, says FSA

29 Jun 2011

Hector Sants, chief executive officer of the Financial Services Authority, says it is vital the regulator wins the battle with European regulators over being able to apply localised regulations.

BBA: Over-capitalising banks is not the answer

29 Jun 2011

Marcus Agius, chairman of the British Bankers’ Association, says he is concerned that regulators are imposing capital requirements on banks that are too high.

Landmark BTL ruling could spell end to claims against surveyors

28 Jun 2011

The Court of Appeal has ruled that valuers do not owe the same duty of care to buy-to-let investors as residential buyers.

Are large brokerages pushing out the small ones?

27 Jun 2011

The number of mortgage intermediary firms operating in the market has shrunk from a colossal 3,394 in June 2007 to 1,641 as of March 2011.

Up to 12% of borrowers could be in arrears

27 Jun 2011

As many as 12% of mortgage borrowers could be in arrears, but the figures are being masked by lenders’ forbearance measures, says the Bank of England.

MMR delay is double-edged sword, says AMI

23 Jun 2011

The Association of Mortgage Intermediaries says the delay to the Mortgage Market Review creates further regulatory uncertainty in the market.

CML appoints Paul Smee as new director-general

23 Jun 2011

The Council of Mortgage Lenders has appointed Paul Smee as its new director-general, replacing Michael Coogan when he leaves on July 29.

Brokers abusing B2L for self-cert clients, says FSA

23 Jun 2011

The Financial Services Authority says brokers are using buy-to-let and let-to-buy mortgages for self-cert customers who would not qualify for a residential mortgage.

Paragon calls for government to support private rented sector

22 Jun 2011

Speaking at the Council of Mortgage Lenders’ annual buy-to-let and private rented sector conference today, John Heron, managing director of Paragon Mortgages called for the government to do more to support the private rented sector.

House builder launches 95% LTV deal

21 Jun 2011

Housing builder Kier Homes, has launched Step One + which offers its buyers a mortgage up to 95% LTV.

Barclays reduces tracker and fixed mortgage rates

21 Jun 2011

Barclays is cutting rates on its Woolwich fixed mortgages by up to 0.31% and introducing new trackers to the range tomorrow.

Gummer under fire for ownership speech

20 June 2011

John Gummer, chairman of the Association of Mortgage Intermediaries, has been slammed for being out of touch and dated in his views on home ownership.

More arrears probes in the pipeline, FSA warns

20 June 2011

The Financial Services Authority has warned lenders that it will continue to investigate firms and punish those that have treated customers in arrears unfairly.

Countrywide and Mortgage Advice Bureau launch Capital Private Finance

16 Jun 2011

Countrywide has announced the signing of a joint venture with Mortgage Advice Bureau to launch a new financial services brand –Capital Private Finance.

Number of homeowners could plummet by two million

15 Jun 2011

The number of homeowners is set to plummet by almost two million people by 2025, says a report by the Smith Institute.

Non-homeowners have no freedom, claims Gummer  

15 Jun 2011

John Gummer, the former Conservative MP for Suffolk Coastal and the chairman of the Association of Mortgage Intermediaries has claimed non-homeowners have no freedom.

Surveyors call for FSA to investigate mortgage lenders

14 Jun 2011

The council of the Residential Property Surveyors Association has written to Hector Sants, chief executive of the Financial Services Authority calling for an investigation into the advice mortgage lenders give their borrowers.

Average mortgage fee up by 13% since 2009

14 Jun 2011

Analysis from moneysupermarket.com shows fees for fixed and tracker mortgage products have increased by over 13% since September 2009.

Tesco to launch into mortgages in coming months

14 Jun 2011

Supermarket giant Tesco has revealed it is on track to launch into the mortgage sector in the coming months.

FSA to take action against more firms over arrears handling

13 Jun 2011

The Financial Services Authority has today published its annual report for the year 2010/11, in which it warns there will be more action taken against firms for treating customers in arrears unfairly.

Brokers must take charge to win high street battle

13 Jun 2011

Brokers have been warned they could lose the war with high street lenders over market share if they fail to take advantage of the number of people seeking mortgage advice.

EC rules may put the brakes on TV adverts

13 June 2011

ROBERT SINCLAIR: PROBLEMS WITH INTERPRETATION

SHIP considers opening membership to advisers

13 June 2011

ANDREA ROZARIO, REVIEWING ROLE OF TRADE BODY

Interest rates kept on hold at 0.5%

9 Jun 2011

The Bank of England’s Monetary Policy Committee has once again voted to keep the base rate on hold at 0.5%.

FSA finds price comparison sites treating customers unfairly

8 Jun 2011

The Financial Services Authority has written to 19 firms operating insurance price comparison websites to highlight concerns about the fair treatment of consumers.

Government frees up land to build 100,000 homes

8 Jun 2011

Housing Minister Grant Shapps has announced government plans to release enough land from Whitehall’s grip to build as many as 100,000 new homes and support as many as 25,000 jobs by 2015.

Treasury allows banks to leave Credit Guarantee Scheme early

8 Jun 2011

The chancellor George Osborne has announced that the Treasury is changing the rules of the Credit Guarantee Scheme to allow banks to reduce their participation in the scheme ahead of schedule.

ASA bans two Lloyds TSB ads

8 Jun 2011

Two television advertisements from Lloyds TSB have been banned by the Advertising Standards Authority for being misleading.

Only 32% of brokers aware of what constitutes insurance fraud

7 Jun 2011

Only a third - 32%, of intermediaries are ’somewhat clear’ on exactly what constitutes insurance fraud, shows research conducted by Legal & General as part of its FraudStoppers campaign.

FSA cancels two brokers’ permissions over unpaid fees

7 Jun 2011

The Financial Services Authority has cancelled the permission of Select Mortgage Services (Bracknell).

Under 25's account for one in four calls to CAB

6 Jun 2011

The number of under 25’s seeking help with benefits and housing issues is rising according to national charity Citizens Advice.

Brokers blamed for risky lending

6 June 2011

Mortgage brokers helped fuel risky lending during the boom years, according to a report by the Institute for Public Policy Research.

CML lifts 2011 lending forecast to £140bn as credit constraints ease

6 June 2011

The Council of Mortgage Lenders has raised its 2011 forecast for gross mortgage lending by £5bn to £140bn.

Soaring demand could see renters priced out

6 June 2011

A potential housing crisis is brewing which could lead to renters being priced out of the market, John Heron, managing director of Paragon Mortgages, has warned.

Northern Rock launches intermediary exclusives

3 Jun 2011

Northern Rock has launched a number of fixed rate deals available exclusively through its intermediary partners.

Yorkshire Building Society enters drop lock mortgage market

3 Jun 2011

Yorkshire Building Society is launching two new products which will allow customers to switch to a fixed rate mortgage deal at no extra cost.

Nationwide reduces rates on its two-year 50% LTV fixes

2 Jun 2011

Nationwide is reducing its two-year 50% LTV fixed mortgage rates for new applications by 0.15% this Friday.

Total UK personal debt stands at £1,452bn

2 Jun 2011

Total UK personal debt at the end of April 2011 stood at £1,452bn, the latest figures from charity Credit Action show.

Unlicensed letting agents threatening private rental sector

2 Jun 2011

The Association of Residential Letting Agents has warned that unlicensed letting agents are placing both landlords and tenants at increased risk of financial loss.

CML increases gross mortgage lending forecast for 2011

1 Jun 2011

The Council of Mortgage Lenders has increased its gross mortgage lending forecast for 2011 from £135bn to £140bn.

FSA advisory panel calls for MMR to be delayed

1 Jun 2011

The Mortgage Market Review should be delayed until the market has recovered, the Financial Services Consumer Panel has recommended.

Brokers accounted for 63% of FTB mortgages in Q1

31 May 2011

Brokers accounted for 63% of first-time buyer mortgages, 60% of remortgage loans and 53% of home mover loans in Q1 2011, the latest figures from the Council of Mortgage Lenders show.

Two-thirds of 20 to 45 year-olds have given up on home ownership

31 May 2011

Two-thirds, 64%, of non-homeowners believe they have no prospect whatsoever of buying a home, according to a new report.

MI links with Countrywide Conveyancing for exclusive BM deal

31 May 2011

To coincide with the four-day BM Solutions buy-to-let remortgage products, Mortgage Intelligence and Mortgage Next will have exclusive access to a special deal through Countrywide Conveyancing Services.

FSA’s MMR proposals are inadequate, says think tank

31 May 2011

The Financial Services Authority’s Mortgage Market Review does not go far enough in regulating the mortgage market, says a study out today by the Institute for Public Policy Research.

House prices to increase 16% by 2015

31 May 2011

Cebr’s new forecast for house prices shows a 1.4% fall in 2011 but then a recovery that will generate a four year rise in prices of 16% between 2011 and 2015.

60 seconds with...Julian Hartley

30 May 2011

Mortgage Director, ING Direct

Paragon to boost lending after its parent notches up £39.5m profit

30 May 2011

John Heron, managing director of Paragon Mortgages, says his firm has a substantial appetite to lend after its parent revealed a £39.5m pre-tax profit last week.

The West Brom reports pre-tax loss of £13.1m

26 May 2011

West Brom Building Society has reported a pre-tax loss of £13.1m for year ended March 31 2011, compared to £18.5m loss in the same period last year.

FSA fines Bank of Scotland £3.5m

25 May 2011

The Financial Services Authority has fined Bank of Scotland £3.5m for the mishandling of complaints about retail investment products – many from older customers with little or no experience of investment products.

Halifax puts further restrictions on interest-only

24 May 2011

Halifax Intermediaries will now require evidence of the repayment plan for all borrowers taking out an interest-only mortgage before they proceed to offer stage.

Moody's puts 14 UK lenders on review for possible downgrade

24 May 2011

Moody’s Investors Service has today announced that it is reviewing the ratings of 14 UK banks and building societies for possible downgrade.

Tell us what you think and win a case of fine wine

23 May 2011

Hundreds of brokers have given us their views on the near-prime sector in our online poll.

AMI sees little hope of halting EC advice plans

23 May 2011

Robert Sinclair

CML in talks to boost LTVs on new-builds

23 May 2011

Nigel Stockton

Santander £3.7bn RMBS is the biggest since 2007

23 May 2011

Santander UK breathed life into the securitisation market last week by launching a £3.75bn deal - the largest publicly placed UK residential mortgage-backed securitisation since 2007.

Gross mortgage lending drops 14% in April

20 May 2011

Gross mortgage lending declined to an estimated £9.8bn in April, down 14% from £11.4bn in March and 5% from £10.3bn in April 2010, show the latest figures from the Council of Mortgage Lenders.

CML in talks with builders over increasing new-build LTVs

19 May 2011

The Council of Mortgage Lenders is in discussions with house builders over hiking the maximum LTVs on new build properties.

FOS sees drop in mortgage complaints

18 May 2011

The Financial Ombudsman Service saw a fall in mortgage-related complaints last year.

Largemortgageloans makes new appointments

16 May 2011

Largemortgageloans.com has appointed a new head of sales and a new head of sales and marketing.

11 Firms apply for lending authorisation in one year

16 May 2011

Eleven firms have applied to the Financial Services Authority for authorisation to carry out mortgage lending in the past 12 months, with Portillion confirming it has made an application in the last few weeks.

Bovis in talks about 95% LTV deal

16 May 2011

House builder Bovis Homes is in discussions with lenders about offering a 95% LTV mortgage.

Second charge repossessions down 25.6% in Q1

12 May 2011

Repossessions for second charge mortgages were down by 25.6% in Q1 2011, compared with Q1 2010, show figures released today by the Finance & Leasing Association.

Accord cuts fixed rates

11 May 2011

Accord Mortgages is launching a new range of fixed rate mortgage deals tomorrow, cutting 0.20% from fixed rates up to 75% LTV and 0.25% for products available up to 85% LTV.

Target Group one of The Sunday Times fastest growing firms

11 May 2011

Financial services software and outsourcing provider, Target Group, has secured a debut ranking at 30 in the 2011 Sunday Times HSBC International Track 100 league table of private companies with the fastest-growing international sales in the last three years.

Repayment mortgages at record high

11 May 2011

Some 77% of residential mortgages introduced during Q1 2011 were capital repayment mortgages - the highest proportion since 1996, shows Paragon Mortgages’ Financial Adviser Confidence Tracking Index.

Aldermore increases maximum loan size to £1m

11 May 2011

Aldermore has increased its maximum loan size from £600,000 to £1m on all residential mortgage deals up to 75% LTV.

Assurant Intermediary secures 40% share of PTFS panel

10 May 2011

Assurant Intermediary has reported that it has secured approximately 40% share of the Personal Touch Financial Services buildings and contents panel in the year since its appointment.

L&G Mortgage Club offers Kensington 90% LTV deals

9 May 2011

Kensington has launched a limited tranche of 90% LTV mortgages available through Legal & General Mortgage Club to first-time buyers and subsequent purchasers.

FSA warns over mortgage brokerage

9 May 2011

The Financial Services Authority is warning investors against dealing with Munir Mughal, trading as Mortgage Bureau (UK) Hayes.

Forbearance being used to hide arrears, says FSA

9 May 2011

The Financial Services Authority has accused lenders of using unnecessary forbearance measures in a bid to hide the true condition of their mortgage books.

One-fifth of mortgages came from Lloyds in Q1

9 May 2011

Lloyds Banking Group laid claim to 20% of the gross mortgage lending market in Q1 2011, with the Royal Bank of Scotland taking a 14% share, their accounts reveal.

Fix compliance or face enforcement, regulator warns boards of mutuals

9 May 2011

The Financial Services Authority has threatened the boards of building societies with enforcement action if they do not improve their compliance.

Mutuals whet their lending appetite with host of high LTV mortgages

9 May 2011

Building Societies are showing an appetite to lend at higher LTVs by launching an array of low deposit deals last week.

RBS increases gross mortgage market share to 14%

6 May 2011

Royal Bank of Scotland has reported losses of £528m for Q1 2011, but an increase in its gross mortgage market share to 14%, compared to Q4 2010.

FSA welcomes independent review for RBS report

5 May 2011

The Financial Services Authority has welcomed the statement from Andrew Tyrie, chairman of the Treasury Select Committee that it has asked David Walker and Bill Knight to conduct an independent review of the report which the FSA is producing into the failure of Royal Bank of Scotland.

Paradigm warns on saving account related mortgages

5 May 2011

Paradigm Mortgage Services has urged mortgage brokers to inform and educate their potential first-time buyer client base about current and saving account-related mortgages and whether they truly represent the most suitable option for their needs.

FSA calls on firms to improve arrears reporting

4 May 2011

The Financial Services Authority has called on lenders to improve their reporting of borrowers entering into arrears.

L&G sees 20% increase in new business

4 May 2011

Legal & General has reported a 18% growth in net cash generation and 12% growth in new business volumes for Q1 2011.

Management buyout at Savills Private Finance

3 May 2011

Savills has revealed today that it has completed the sale of a majority interest - 80.01% in Savills Private Finance to the SPF senior management team.

FSA cancels firm's permissions

3 May 2011

The Financial Services Authority has cancelled the permissions of Birmingham based brokerage Solomon Lloyd for failing to pay fees of £1,491.68 to the regulator.

Tough Q1 for Santander as buyer demand falters

2 May 2011

Santander UK has blamed a lack of demand for the 26% fall in its gross mortgage lending in Q1 2011.

Winning hand

25 April 2011

When it comes to pruning their conveyancer panels, lenders seem to be holding all the cards. But there are fears that small firms will be hardest hit and could struggle to survive. By Natalie Thomas

Disappointed BBA considers next step as court throws out PPI case

25 April 2011

The British Bankers’ Association is considering whether to appeal against the High Court’s decision last week on the mis-selling of payment protection insurance.

Banks lose battle with the FSA

20 Apr 2011

The High Court has ruled today in favour of the Financial Services Authority in relation to the mis-selling of Payment Protection Insurance.

TrigoldCrystal claims 73% of mortgage sourcing market

19 Apr 2011

The latest Mortgages Achilles survey for UK mortgage lenders shows that 73% of brokers use TrigoldCrystal’s Prospector system for sourcing.

N&P appoints Anne Gunther as new chief executive

19 Apr 2011

Norwich & Peterborough Building Society has appointed Anne Gunther, the former chief executive of Standard Life Bank as its new chief executive.

FSA bans four more brokers for mortgage fraud

19 Apr 2011

The Financial Services Authority has banned four mortgage intermediaries and imposed fines totalling £450,000 for knowingly using misleading and inaccurate information to secure mortgages.

Brightstar adds Prestige Finance to panel

18 Apr 2011

Brightstar Financial has added second charge mortgage lender Prestige Finance to its Premier panel.

FSA fines N&P £1.4m and agrees £51m for customers

18 Apr 2011

The Financial Services Authority has fined Norwich and Peterborough Building Society £1.4m for failing to give its customers suitable advice in relation to the sale of Keydata products

Martin Davis to leave Openwork later in the year

18 Apr 2011

Openwork chief executive Martin Davis is to leave the network later in the year to assume a new role outside the distribution sector.

Former sub-prime lenders facing arrears time bomb

18 April 2011

Former sub-prime lenders have up to 30% of their book in arrears, sparking fears they are sitting on a ticking time bomb once interest rates rise.

Sub-prime slump may have been a factor in 2010's 14% rise in fraud

18 April 2011

The decline of the sub-prime market has been partially blamed for an increase in mortgage fraud.

Manor appoints sales manager

15 Apr 2011

Manor Mortgages has appointed John Bennett as sales manager covering the North West of England.

Lloyds names mortgage sales bosses 

15 Apr 2011

Lloyds Banking Group has retained Ian Wilson, head of sales at Halifax Intermediaries, Phil Rickards, head of sales at BM Solutions and head of national accounts Maria Harris, after asking them to reapply for their jobs.

Banks well placed to cope with end of SLS

14 Apr 2011

Banks are well equipped to raise funding once the Special Liquidity Scheme starts to wind down this year, says Paul Fisher, executive director of markets at the Bank of England.

Nationwide reduces three-year fixed rate mortgages

14 Apr 2011

Nationwide is to decrease the interest rates of all its three-year fixed rate mortgages by up to 0.2% on Friday.

Paradigm adds Manchester to panel

14 Apr 2011

Paradigm Mortgage Services has added Manchester Building Society to both its own lender panel for directly authorised firms plus that of Paradigm Financial Advisers, the network service for appointed representatives.

ING Direct removes fees on fixed rates  

13 Apr 2011

ING Direct has temporarily removed all product and arrangement fees on its range of two, three and five-year fixed rate mortgage deals.

Unemployment falls by 17,000

13 Apr 2011

The unemployment rate for the three months to February 2011 was 7.8%, falling 17,000 over the quarter to reach 2.48 million.

Luton man ordered to repay £67,131 after mortgage fraud

12 Apr 2011

Mohammed Wasi Sheikh, 47, of Northview Road, Luton was ordered to re-pay the money from his fraudulent activities by Luton Crown Court on Friday.

HSBC offers fee-free trackers with fix option

11 Apr 2011

HSBC is scrapping the booking fee, standard valuation fee and completion fee for those looking to switch to a tracker mortgage from another lender until June 5.

Brokers not tipping off FSA on fraud at lenders

11 Apr 2011

Only seven mortgage brokers have reported suspected fraudulent activity by lenders to the Financial Services Authority in the last seven years.

Brokers not tipping off FSA on fraud at lenders

11 April 2011

JOHN MALONE, SURPRISED BY FEW TIP-OFFS

OFT swoops down on 19 lead websites without licences

11 April 2011

The Office of Fair Trading has shut down 19 unlicensed lead generation websites.

Growth in product numbers may be a case of smoke and mirrors

11 April 2011

The number of mortgage products available via brokers has increased 123% year-on-year, but this has not been matched by a rise in gross mortgage lending.

Nationwide follows the crowd and restricts interest-only to 75% LTV

11 April 2011

The number of lenders offering interest-only mortgages at 85% LTV or above fell last week after Nation-wide became the latest to cap interest-only at 75% LTV.

CB Richard Ellis teams up with Countrywide

8 Apr 2011

CB Richard Ellis and Countrywide have signed an agreement to combine resources.

Interest rates kept on hold at 0.5%

7 Apr 2011

The Bank of England’s Monetary Policy Committee has kept the base rate on hold at 0.5%.

FSA cancels adviser’s permissions over unpaid CCJs

6 Apr 2011

The Financial Services Authority has cancelled the permissions of Elaine MacCormack, trading as EPM Financial Services, because of outstanding County Court judgements of up to £531,224.

Debt charity warns of rise in mortgage arrears

6 Apr 2011

National debt charity Consumer Credit Counselling Service has warned that many homeowners will struggle to keep the roof over their heads this year.

House prices rose 0.1% in March

6 Apr 2011

House prices rose by 0.1% in March, taking the average house price to £162,912, the latest Halifax house price index shows.

£210m FirstBuy scheme launched by the HCA

5 Apr 2011

A FirstBuy Prospectus has been published by the Homes and Communities Agency today, setting out more detail on the new equity loan affordable home ownership scheme announced in the Budget.

Precise Mortgages improves range

5 Apr 2011

Precise Mortgages has made a number of improvements to its range of Near Prime Home Owner mortgage products.

Complaints continue to rise against former specialist mortgage lenders

4 April 2011

Former buy-to-let lender Mortgage Express received 1,314 complaints in the second half of 2010, despite closing to new business in 2008.

Good news for B2L as Skipton returns to sector

4 April 2011

Skipton Building Society gave the buy-to-let sector a boost last week by relaunching into the market after pulling the plug on new lending in 2009.

Precise Mortgages is no April Fool

1 Apr 2011

Precise Mortgages announced this morning that it has launched an incentive to pay one lucky broker’s mortgage for a year.

Precise offers to pay a mortgage broker's mortgage for a year

1 Apr 2011

Precise Mortgages is offering to pay one lucky broker’s mortgage for a year, all they need to do is register and login on the lender’s website.

EC: Directive sets out minimum requirements for brokers

31 Mar 2011

Mortgage brokers must have a clean police record in relation to serious criminal offences linked to crimes against property or other financial activities, says the European Commission.

EC: Lenders must tell borrowers why they have been rejected

31 Mar 2011

Lenders will be forced to disclose their reasons for refusing a customer a mortgage under proposed plans announced by the European Commission today.

European Commission publishes proposals for the mortgage market

31 Mar 2011

The European Commission has today published its proposals for a new Directive on credit agreements relating to residential property.

Bradford & Bingley and Northern Rock return to profit

31 Mar 2011

UK Asset Resolution, the government owned company that runs Northern Rock Asset Management and Bradford & Bingley has revealed that both companies returned to profit in 2010.

Simon Baker joins Omnii Solutions

30 Mar 2011

Simon Baker, former national accounts manager at Beacon Home Loans has joined Omnii Solutions as head of sales.

Mortgage complaints more than double in one year

30 Mar 2011

The Financial Services Authority has today published its complaint figures for the second half of 2010, showing complaints about mortgage businesses have more than doubled in one year.

Remortgage approvals continue to climb

29 Mar 2011

Approvals for remortgaging increased in February to 35,725,  5.2% higher than the previous six-month average of 31,674,  show the latest figures from the Bank of England.

Lodging cheaper than renting in four out of five UK cities

29 Mar 2011

Lodging with a homeowner is more affordable than splitting the cost of renting an equivalent two bed flat with a friend in most of the UK’s towns, according to the latest research from esayroommate.co.uk.

Mortgage approvals up 23% by mutuals year-on-year

29 Mar 2011

Mortgages to the value of £1.7bn were approved by mutual lenders in February, 23% higher than the £1.4bn approved in February last year.

Nationwide launches £2m mortgages this week

28 Mar 2011

Nationwide is launching its large loans offering on Wednesday and will now lend up to £2m for mortgages up to 75% LTV on its no-fee products.

Mandelson withheld information on Lloyds/HBOS merger, alleges action group

28 Mar 2011

Important evidence which could have changed the outcome of a court case in the run up to the merger of Lloyds TSB with HBOS was deliberately withheld by the then business secretary Lord Mandelson, the shareholder action group Lloyd Action Now has alleged.

FSA shows its teeth with probe of rent-back firm

28 Mar 2011

The Financial Services Authority is already investigating a sale-and-rent-back firm for bad practices and misconduct, less than a year after regulating the sector.

Industry warns FirstBuy initiative will have little impact in isolation

28 March 2011

The government’s FirstBuy initiative is a the drop in the ocean in terms of how many first-time buyers it will help, say mortgage trade bodies.

Pressure builds on MPC as rising inflation reaches three-year high

28 March 2011

Further pressure is being piled on the Monetary Policy Committee to increase interest rates after it was revealed last week that inflation rose to 4.4% in February.

Santander’s chief credit officer joins Nationwide

24 Mar 2011

Iain Laing, chief credit officer at Santander UK, is leaving to join Nationwide as chief risk officer.

BUDGET 2011: Support for Mortgage Interest Scheme extended

23 Mar 2011

Chancellor George Osborne has revealed in today’s Budget that the government will extend the Support for Mortgage Interest Scheme until January 2013.

Mortgage approvals edge up slightly in February

23 Mar 2011

The latest figures from the British Bankers’ Association show the number of mortgage approvals rose to 72,309 in February, up from 70,776 in January.

Northern Rock launches £370m securitisation

22 Mar 2011

Northern Rock has returned to the securitisation market for the first time since it was nationalised.

Santander intermediary director quits for Lloyds Banking Group  

22 Mar 2011

Alison Brittain, executive director for retail distribution and intermediaries at Santander is leaving the lender and joining Lloyds Banking Group.

Conveyancing Alliance launches Convey99

22 Mar 2011

Conveyancing Alliance has launched a purchase conveyancing product, Convey99.

Secured loan business drops 21% year-on-year

22 Mar 2011

Secured loan business fell 21% in January to £21m, down 19% compared to January 2010, the latest market figures from the Finance & Leasing Association show.

FSA bans broker for taking £1.5m from clients' accounts

21 Mar 2011

The Financial Services Authority has banned mortgage broker Rienzie Albert Joseph Asoka Silva from carrying out regulated activities, after taking £1.5m from clients’ accounts.

Nearly a third of landlords increase rents in Q1

21 Mar 2011

Nearly a third of landlords have increased rents during Q1 of the year, research from buy-to-let mortgage specialist Paragon shows.

Simply Finance holds open day

21 Mar 2011

Simply Finance Group is opening its doors to mortgage advisers in the South and holding an open day on Thursday March 24.

Mortgage Brain merger in doubt after OFT move

21 March 2011

Mortgage Brain is considering retracting its offer for rival sourc-ing system TrigoldCrystal because of the costs involved in pursuing the acquisition through the Com-petition Commission.

CML rejects Shelter allegation that reckless lending led to repossessions

21 March 2011

The Council of Mortgage Lenders has hit out at Shelter’s claim that 17,000 repossessions could have been prevented if lenders had been more responsible.

Jobless total is the highest in 17 years at 2.53 million

21 March 2011

Unemployment in the UK increased by 27,000 in the three months to the end of January to 2.53 million, the highest figure since 1994, figures from the Office for National Statis-tics show.

C&G pulls from broker market

17 Mar 2011

Cheltenham & Gloucester, part of Lloyds Banking Group, is to no longer accept mortgage applications from mortgage brokers.

MAB sees 39% rise in mortgage applications

16 Mar 2011

Mortgage applications were up 39% in February compared to January and 9% higher than the number of applications in February 2010, shows the latest figures from the Mortgage Advice Bureau.

Lloyds involves local authorities in 95% LTV deal

16 Mar 2011

Lloyds TSB has today launched Local Lend a Hand, which allows local authorities to help first-time buyers get on the housing ladder with a 5% deposit.

House prices down 1.4% in January

15 Mar 2011

House prices fell 1.4% in January, the latest house price index by the Department for Communities and Local Government shows.

Masthaven receives investment boost

15 Mar 2011

The bridging provider says this together with additional bank funding, will provide Masthaven with a considerable level of additional funds to lend.

Assurant Intermediary launches online training facility

14 Mar 2011

Specialist general insurance provider Assurant Intermediary has launched a free online training facility for intermediaries.

Fake payslips still available online

14 Mar 2011

Websites offering fake payslips are still thriving, despite a reported fall in the number of borrowers using fake documentation to commit mortgage fraud, Mortgage Strategy has found.

Second firm in FSA firing line for reckless lending

14 March 2011

The Financial Services Authority is investigating a second firm for irresponsible lending practices in the mortgage market, Mortgage Strategy can reveal.

£4.2Bn gross lending by Northern Rock in 2010 is lower than pledged

14 March 2011

Northern Rock plc undertook gross mortgage lending of £4.2bn in 2010, falling short of its pledge to achieve £14bn lending in 2009/10, which was made before the bank was broken up.

Interest rates kept on hold at 0.5%

10 Mar 2011

The Bank of England’s Monetary Policy Committee has kept the base rate on hold at 0.5%.

Connells Group launches exclusive 90% mortgage with NatWest

10 Mar 2011

The Connells Group has launched a new and exclusive 90% LTV mortgage with NatWest Intermediary Solutions.

House sales up 38% in February

9 Mar 2011

Houses sales in February were up 38.3%, compared to January, show the latest figures from the Agency ExpressProperty Activity Index.

What Insure launches MPPI product

9 Mar 2011

What Insure has launched a Mortgage Payment Protection Insurance product.

MSTV: West One Loans on why more lenders are set to enter bridging

8 Mar 2011

In this edition of Mortgage Strategy TV, we speak to Mark Abrahams, chief executive officer of West One Loans, about why he thinks the sector will see more bridging entrants in 2011.

United Trust Bank launches new bridging rates

8 Mar 2011

United Trust Bank has launched new bridging rates starting from 0.95% per month.

Broadbent to replace Sentance on MPC

7 Mar 2011

Ben Broadbent has been appointed to succeed Andrew Sentance as external member on the Monetary Policy Committee from June 1 2011.

Property lawyer predicts chaos for April's Stamp Duty rise

7 Mar 2011

John Stephenson, senior partner and head of residential property team at city firm Bircham Dyson Bell LLP, is predicting that April’s Stamp Duty increase to 5% on properties over £1m will create chaos for buyers, sellers, solicitors and lenders alike.

LSL's appetite for acquisitions grows as pre-tax profits increase to £25.8m

7 March 2011

LSL Property Services, the parent company of Pink Home Loans and First Complete, has revealed it is on the acquisition trail after reporting pre-tax profits of £25.8m for 2010, up from £17m in 2009.

Walking the line

7 March 2011

AMI director Robert Sinclair is a busy man, what with making sure the broker’s voice is heard in the industry and dealing with the regulator and impending MMR

Abbey introduces lending policy changes

4 Mar 2011

Abbey for Intermediaries has made a number of changes to its lending policy and will allow broker advice fees to be included in the mortgage advance in all cases below 75% LTV, provided the fee doesn’t exceed 1% of the total loan.

Welcome FS sets aside £110m in redress for PPI claims

3 Mar 2011

Welcome Financial Services has set aside £110m to compensate customers who were mis-sold payment protection insurance by the firm.

Skipton launches 95% LTV exclusively through Connells

2 Mar 2011

Skipton Building Society has launched a range of 90% and 95% LTV mortgages exclusively through the Connells Group.

LSL on the acquisition trail as profits increase

2 Mar 2011

LSL Property Services, the parent company of Pink Home Loans and First Complete has reported a profit before tax of £25.8m for 2010, up from £17.0m in 2009 and the group says it is well placed to make further acquisitions.

AMI fears Europe will axe broker commission

28 February 2011

ROBERT SINCLAIR: RDR-STYLE RULES FOR MORTGAGES

Drawbridge wins extra £250m from Octopus

28 February 2011

JONATHAN SAMUELS: INVESTOR APPETITE FOR THE SECTOR

AMI calls for compulsory advice in MMR response

25 Feb 2011

The Association of Mortgage Intermediaries has put forward the case for compulsory advice in its response to the Mortgage Market Review’s distribution paper.

George Patellis leaves Tiuta

24 Feb 2011

George Patellis has stepped down as chief executive officer of Tiuta, due to family and personal circumstances.

Yorkshire BS triples mortgage lending in 2010

24 Feb 2011

Yorkshire Building Society tripled its mortgage lending in 2010 from £936m in 2009 to £2.7bn in 2010.

Brain tumour forces Stephen Knight to step down from Portillion

23 Feb 2011

Stephen Knight, chief executive officer of Portillion, is to leave his role after being diagnosed with a brain tumour.

ASA bans ad from PropertyPal.com

23 Feb 2011

The Advertising Standards Authority has banned a television advertisement from PropertyPal.com.

Loans Warehouse teams up with Portal Portfolio

22 Feb 2011

Loans Warehouse has added Portal Portfolio to its whole of market secured loan panel.  

Leeds plans to increase mortgage lending by 25% in 2011

22 Feb 2011

Leeds Building Society has revealed pre-tax profits of £42.2m today and says it plans to increase its mortgage lending by 25% in 2011 to £1.25bn.

Nominations for February's Top Of The League are in

21 Feb 2011

The shortlist for February’s Top Of The League, in association with Woolwich Mortgages from Barclays, have been unveiled

Nationwide rebuffs broker churning claims

21 Feb 2011

Nationwide Building Society says comments printed in the Sunday Telegraph yesterday which accused brokers of churning fixed rate mortgages in order to get a fee were taken out of context.

West One Loans appoints national BDM

21 Feb 2011

West One Loans, the privately funded bridging lender has appointed Manish Babla as national business development manager.

Asking prices jump 3.1% in February

21 Feb 2011

New house sellers in February hiked their asking prices by 3.1% to an average of £230,030, shows the latest Rightmove House price Index.

Kensington and Precise eye up bridging sector

21 February 2011

Kensington and Precise Mortgages are believed to be looking to enter the bridging sector in 2011.

Less competition helped Just Retirement's 20% boost in sales

21 February 2011

Just Retirement has attributed its 20% boost in equity release sales to other providers pulling out of the sector.

More high LTVs on offer in a bid to capture dwindling FTB market

21 February 2011

BRIAN MURPHY, FIRST-TIME BUYERS PUT OFF

Gross mortgage lending drops 13% in January

18 Feb 2011

Gross mortgage lending declined to an estimated £9.2bn in January, a 13% fall from £10.6bn in December but a 5% rise from £8.8bn in January 2010, according to the latest data from the Council of Mortgage Lenders.

Abbey launches new fixed and tracker deals

17 Feb 2011

Abbey for Intermediaries if launching a number of new deals tomorrow and reducing the rate on its four-year fix to 5.84%.

30% of people in UK planning to move in 2011

16 Feb 2011

Research from Clydesdale & Yorkshire Banks reveal that 30% of people in the UK are planning to move home in 2011.

UK unemployment rises again

16 Feb 2011

The total number of unemployed people increased by 44,000 in the last three months of 2010 to reach 2.49 million, a jobless rate of 7.9%, figures from the Office of National Statistics show.

HML predicts a drop in repossessions in first half of 2011

15 Feb 2011

UK repossessions are set to fall during the first half of 2011 to 15,557 and rise during the second half to 17,700, according to the first regionally based forecast from financial outsourcer HML.

Assurant Intermediary launches BrokerZone

15 Feb 2011

Specialist general insurance provider Assurant Intermediary has launched BrokerZone, a new dedicated area on its website giving intermediaries access to a range of information and services.

Citri to become an AR of Openwork

14 Feb 2011

Citri, the mortgage and protection specialist advisory firm, is to become an appointed representative of Openwork.

Brokers introduced two-thirds of FTB mortgages in 2010

14 Feb 2011

Brokers introduced two-thirds of all first-time buyer mortgage sales in 2010, accounting for 66% of mortgage sales in terms of the total number of loans and 65% in terms of the value of FTB loans.

House prices to fall 1.7% in 2011

14 Feb 2011

After recording year-on-year growth of 6.4% in 2010, the housing market recovery will stall in 2011, leaving house prices 1.7% lower compared to last year according to the latest forecast from the Centre for Economics and Business Research.

Barclays sues firms over alleged mortgage fraud

14 February 2011

Barclays Private Clients International and Barclays Bank are suing mortgage brokerage Savills Private Finance, chartered surveyors Stocker & Roberts Partnership and O’Sullivan Law Solicitors for losses from an alleged mortgage fraud.

More people face losing homes as job cuts and rate hikes take effect

14 February 2011

Repossessions fell 24% in 2010, but experts have warned that 2011 could see an increase in repossessions as higher interest rates and job cuts kick in.

Media Spotlight: Mary Portas: Secret Shopper

14 February 2011

Soaring rental demand offers high hopes for a B2L bonanza this year

14 February 2011

The buy-to-let market looks set to soar in 2011 after the sector grew by 7% in 2010.

Loans for remortgages at 13-year low in 2010

11 Feb 2011

Loans for remortgages were at a 13-year low in 2010, the latest figures from the Council of Mortgage Lenders reveal.

Halifax Intermediaries cuts two-year fixes

10 Feb 2011

Halifax Intermediaries has cut the rates on a number of its two-year fixes by up to 0.70% and launched a range of new deals.

Link Loans launches secured loan deal at 7.9%

10 Feb 2011

Secured loans lender, Link Loans, has launched of a new product with a 7.9% rate, aimed at the remortgage market.

Second-charge repossessions fall 41%

10 Feb 2011

Repossessions for second-charge mortgages were down by 41.1% in 2010, compared with 2009, according to latest figures released today from the Finance & Leasing Association

Repossessions fall 24% in 2010

10 Feb 2011

The Council of Mortgage Lenders today revealed that, at 36,300, the number of repossessions by first-charge mortgage lenders in 2010 accounted for just 0.3% of all mortgages.

Mutual One partners with Genworth Financial for mortgage insurance

9 Feb 2011

Mutual One has announced that Genworth Financial has been selected as its mortgage indemnity insurance provider for the collective, available to lenders.

Leadbay founder launches new firm

8 Feb 2011

Simon Baker, the original founder of Leadbay has launched a new lead generation firm Lead Co-op.

Valuation activity up 27% year-on-year

8 Feb 2011

There was a 27% increase in valuation activity year-on-year in January, according to the latest research by Connells Survey and Valuation.

Fixed mortgage rates at six-month high

8 Feb 2011

The average cost of a fixed rate mortgage is at its highest level in six months as lenders pass on rising funding costs to borrowers, says Moneyfacts.co.uk.

MSTV: Michael Coogan on why the MMR should not be rushed

7 Feb 2011

In this edition of Mortgage Strategy TV, we speak to Michael Coogan, director general of the Council of Mortgage Lenders, about why he thinks the Mortgage Market Review should not be an urgent priority for the regulator.

Principality reports pre-tax profits of £30.8m

7 Feb 2011

Principality Building Society has reported pre-tax profits of £30.8m for 2010, an increase of £16.5m from 2009.

AFI reports improved customer satisfaction

7 February 2011

MATHEWSON: CREDITED FOR BETTER SERVICE

Brokers think property investment fund too risky for first-time buyers

7 February 2011

Industry pundits have poured scorn on a new property investment fund offering first-time buyers the chance to get onto the property ladder with just a 5% deposit and no mortgage.

Abbey launches new 90% LTV deal

4 Feb 2011

Abbey for Intermediaries has today launched a new 90% LTV deal.

Backlash over Allsopp’s Twitter slur on Melanie Bien

2 Feb 2011

Television presenter Kirstie Allsopp has sparked a war of words on Twitter after making offensive comments about Melanie Bien, director of communications at Private Finance this morning.

Paragon launches new range with trackers from 3.30%

2 Feb 2011

Paragon Mortgages has launched a new range of fixed and tracker rate buy-to-let mortgages.

ASA bans Moneysupermarket.com ad

2 Feb 2011

The Advertising Standards Authority has banned an advertisement from price comparison site Moneysupermarket.com, after a complaint was made by Gocompare.com.

Mortgage approvals fall in December

1 Feb 2011

The latest figures from the Bank of England today show mortgage approvals totalled 42,563 in December, down from 47,287 in November and the lowest levl since March 2009.

FSA increases annual funding requirement by £45m

1 Feb 2011

The Financial Services Authority is increasing its proposed Annual Funding Requirement for 2011/12 to £500.5m, up from £454.7m in 2010/11, a gross increase of 10.1%

Nationwide reduces rates and offers fee free deals

31 Jan 2011

Nationwide is introducing a number of changes to its mortgage range tomorrow and launching a range of fee free deals.

Mortgage lead firm Lead Magpie launches

31 Jan 2011

A new website Lead Magpie has launched, offering mortgage leads to brokers.

Countrywide launch valuation service with First Direct

31 Jan 2011

Countrywide has started supplying its valuation service to First Direct.

Mortgage Promotions joins Largemortgageloans.com

31 Jan 2011

Largemortgageloans.com has signed a new agreement with Mortgage Promotions to deliver its large loan referral service to its members as part of the Partnership Programme.

UK house prices up 91% in the past decade

31 Jan 2011

UK house prices have risen by 91% over the past ten years, the latest research from Halifax shows.

Fixed mortgages go up as their popularity rockets

31 January 2011

Lenders continued to increase their fixed rates last week as demand for the products continued to soar.

Lloyds may give brokers chance to offer negative equity scheme

31 January 2011

Lloyds Banking Group says it will consider launching its negative equity deal through brokers if it proves a success.

Product access boosts confidence

31 January 2011

A boost in lending and access to products has led to an improvement in intermediary confidence for 2011, says Platform.

Over 80% of advisers expect the same or more business in 2011

28 Jan 2011

Legal & General’s quarterly adviser confidence index shows 85% of advisers expect their business volumes will be at least the same or greater in 2011.

Fitch affirms Northern Rock at BBB+

28 Jan 2011

Fitch Ratings has affirmed Northern Rock’s long and short-term Issuer Default Ratings at BBB+ and F2 respectively.

Lloyds launches deal for borrowers in negative equity

27 Jan 2011

Lloyds Banking Group has launched a new deal for existing borrowers in negative equity that is available direct only.

Precise Mortgages expands sales and marketing teams

26 Jan 2011

Precise Mortgages has appointed three new business development managers to its sales team. 

Firms that buy mortgage books must be FSA regulated

26 Jan 2011

Mark Hoban, the Financial Secretary to the Treasury, has today announced a package of measures intended to enhance consumer protection in the mortgage market.

FSA confirms transfer of business of Kent Reliance to OneSavings

25 Jan 2011

The Financial Services Authority has confirmed the transfer of the business of Kent Reliance Building Society to OneSavings plc under the Building Societies Act 1986.

FSA bans five mortgage brokers

25 Jan 2011

The Financial Services Authority has banned five mortgage intermediaries and fined one of them £104,000. This brings the total number of mortgage intermediaries banned since December 2006 to 101.

Bundled mortgages can cause problems, says FSA

25 Jan 2011

Products that are bundled with another product, such as bundled mortgages and offset mortgages, can hamper a consumer’s ability to recognise suitability, says the Financial Services Authority.

Loans and mortgage products top consumer online searches

24 Jan 2011

Some 61% of the 2 million UK consumer searches conducted online for retail banking-related services in October 2010 were for loans and mortgages, according to the latest quarterly research from Greenlight.

Clydesdale Bank made available to L&G ARs

24 Jan 2011

Clydesdale Bank products to be available to Legal & General network appointed representatives via the Legal & General mortgage club.

Firms want individual registration to be brought in earlier, says PMS

24 January 2011

John Malone, executive chairman of PMS, says firms could start lobbying the regulator to implement the individual registration of brokers before 2013.

Demand for fixes likely to rocket in anticipation of base rate rise

24 January 2011

Demand for fixed rates looks set to soar as pressure grows for the Monetary Policy Committee to hike interest rates.

Lenders may be forced to explain client rejections

24 January 2011

ANNIK LAMBERT, BORROWERS COULD SUE

MMR is vital to protect consumers, says Hoban

24 January 2011

Mark Hoban, financial secretary to the Treasury, defended the Mort-gage Market Review in a debate in the House of Commons last week.

Tax increases will have little impact on high end property

21 Jan 2011

From April 6 2011, those buying properties worth £1m or more will see the amount they pay in Stamp Duty rise from 4% to 5%, but research from Investec Specialist Private Bank reveals that 52% expect this to have no impact on prices.

TLT makes new appointments to mortgage litigation team

20 Jan 2011

National law firm TLT is strengthening its mortgage litigation practice with the hiring of partners Gavin Dowell and Paul Heeley from specialist mortgage litigation practice Glenisters.

Abbey launches new range and cuts rates

20 Jan 2011

Abbey for Intermediaries is launching its latest range of mortgage rates tomorrow, which includes new fixed and tracker mortgages, along with rate reductions of up to 0.37%.

Assurant Intermediary launches new point of sale platform

20 Jan 2011

Specialist general insurance provider Assurant Intermediary has launched UPOS, a new web-based point of sale platform designed to provide intermediaries with a single point of access to its full range of products.

European Commission scraps 10-day cooling off period

19 Jan 2011

Annik Lambert, secretary general of the European Mortgage Federation, revealed today that the European Commission has scrapped its proposal to have a 10-day cooling period for all mortgage contracts.

NACFB appoints new chairman

19 Jan 2011

The National Association of Commercial Finance Brokers has appointed Kevin Jones of Omega Commercial Solutions as its new Chairman for 2011 and 2012.

MSTV: Alan Cleary on why more lender fines are on the way

18 Jan 2011

In this edition of Mortgage Strategy TV, we speak to Alan Cleary, managing director of Precise Mortgages, about why he expects more lenders to receive Financial Services Authority fines this year.

UK prime RMBS remained stable In November 2010

18 Jan 2011

The performance of the UK prime residential mortgage-backed securities market continued its stable trend during November 2010, according to the latest indices published by Moody’s Investors Service.

Loans Warehouse adds Jigsaw Money to panel

18 Jan 2011

Loans Warehouse has added the first of three new secured loan lenders to its panel - Jigsaw Money.

Nationwide takes back £2bn book from HML

17 Jan 2011

Nationwide Building Society is transferring the servicing of almost £2bn of its mortgage book from HML to in-house, following its acquisition of the Cheshire and Derbyshire Building Societies.

Affordability tests may result in risky B2L lending, says Paragon

17 January 2011

John Heron, managing director of Paragon Mortgages, says some lenders’ affordability tests risk a return to unsuitable and irrespon-sible lending practices in the buy-to-let market.

Brokers respond positively to FTB scheme from Barratt and Hitachi

17 January 2011

Brokers have welcomed a new scheme between Hitachi Capital (UK) and Barratt Developments, which offers an unsecured loan to the parents of first-time buyers.

Lending may be eased by extension of Bank's Discount Window Facility

17 January 2011

ALAN CLEARY: DWF WILL BE INSURANCE

FSA hits back at MMR criticism

14 Jan 2011

Speaking at Mortgage Strategy’s Mortgage Masters event yesterday, Lynda Blackwell, mortgage policy manager at the Financial Services Authority, hit out at the criticism against the Mortgage Market Review.

Interest rates kept on hold at 0.5%

13 Jan 2011

The Bank’s Monetary Policy Committee has kept the base rate on hold at 0.5%.

L&G launch new service with Largemortgageloans.com

13 Jan 2011

Legal & General has launched a new service with Largemortgageloans.com, offering a referral service for clients who are looking to borrow £500,000 or more, as part of its high net worth proposition.

TMW launches two-year BTL fix at 4.69%

12 Jan 2011

The Mortgage Works has made a number of changes to its buy-to-let range and launched a two-year fixed rate at 4.69%.

ASA bans estate agency ad

12 Jan 2011

The Advertising Standards Authority has banned an advertisement from Imagine Estate Agents.

FSA fines RBS and NatWest £2.8m for poor complaint handling

11 Jan 2011

The Financial Services Authority has fined Royal Bank of Scotland and National Westminster Bank £2.8m for multiple failings in the way they handled customers’ complaints, responding inadequately to more than half the complaints reviewed by the FSA.

Keith Baldwin joins Intrinsic

11 Jan 2011

Keith Baldwin has joined Intrinsic Financial Services as a non-executive director.

Mortgage fraud plummeted last year, says KPMG

10 Jan 2011

The latest Fraud Barometer from KPMG reveals mortgage fraud dropped between July to December, from 21 to 13 cases.

House prices down 1.3% in December

10 Jan 2011

House prices fell 1.3% in December, according to the latest Halifax House Price Index.

FSA probe into arrears handling could leave Swift with £9.4m bill

10 January 2011

Swift Advances is being investigated by the Financial Services Authority for its handling of borrowers in arrears and has set aside £9.4m to cover a potential fine and other costs.

Launch of 90% LTV products bucks trend as lenders sit on their hands

10 January 2011

A number of lenders launched 90% LTV deals last week, although the Bank of England has warned that lenders are generally steering clear of high LTV loans.

Nigel Stockton to replace Snowball at Countrywide

7 Jan 2011

Alan Snowball, managing director of Countrywide Principal Services, is retiring with Nigel Stockton taking over the running of Countrywide’s mortgage and insurance services.

Lender appetite increases but demand remains weak, says BoE

6 Jan 2011

The latest Credit Conditions Survey from the Bank of England shows that a number of lenders increased lending in Q4, but consumer demand still remains weak.

FSA cancels two firms’ permissions over RMAR

6 Jan 2011

The Financial Services Authority has cancelled the permissions of two mortgage firms for failing to submit their Retail Mediation Activities Return.

Future of Portillion hangs in the balance

5 Jan 2011

Stephen Knight, chief executive officer of Portillion, says the future of the would-be lender rests on it securing £110m of funding in Q1.

Barclays raises LTV to 80% on Great Escape deal

5 Jan 2011

Barclays is extending the LTV on its Woolwich Great Escape remortgage package to 80% from January 6 2011.

Grant Shapps to meet with Hector Sants over MMR

3 Jan 2011

Housing minister Grant Shapps is set to meet with Hector Sants, the head of the Financial Services Authority this week to discuss the Mortgage Market Review.

Coventry launches new mortgages

3 Jan 2011

Coventry and Godiva have launched a new range of residential and buy-to-let mortgages.

FSA cancels permission of The Mortgage Company (1992) Limited

29 Dec 2010

The Financial Services Authority has cancelled the permission of The Mortgage Company (1992) Limited for failing to submit its Retail Mediation Activities Return.

Home owners inject £6.1bn into mortgages

29 Dec 2010

Home owners injected £6.1bn of equity into their homes in Q3 2010 compared with £5.8bn in Q2, figures from the Bank of England show.

Leadbay starts insolvency process

24 Dec 2010

The directors of Leadbay Media Group have confirmed that they are taking steps to place the group into liquidation and are currently in discussion with a number of buyers to conclude a sale of the business.

Leadbay considering a number of offers

23 Dec 2010

Leadbay is believed to have received a number of offers for its assets, but has not yet decided on a buyer.

Interest rates will rise to 5%, warns MPC member

23 Dec 2010

In an interview with The Daily Telegraph, Paul Fisher, the executive director of markets and a member of the Monetary Policy Committee has warned that interest rates will return to 5%.

LeadPoint offers deal for Leadbay brokers

22 Dec 2010

All Leadbay brokers that have been left out of pocket are being offered the equivalent lead buying credit at LeadPoint up to the value of £1,000.

AIFA and AMI ask members for feedback

22 Dec 2010

As part of its strategic review, the Association of Independent Financial Advisers and the Association of Mortgage Intermediaries have launched a member survey.

27 in every 10,000 mortgage applications fraudulent

22 Dec 2010

Some 27 in every 10,000 mortgage applications were detected as fraudulent in Q3 in 2010, shows the latest fraud data from Experian.

UK Buy-to-let RMBS remained stable In October 2010

21 Dec 2010

The performance of the UK buy-to-let residential mortgage-backed securities market continued its stable trend during October 2010, according to the latest indices published by Moody’s Investors Service.

Secured loan business down 20% year-on-year

21 Dec 2010

The latest figures from the Finance & Leasing Association show secured loan business in October was down 20% compared to October 2009.

Swift investigated by FSA over arrears handling

20 Dec 2010

Swift Advances is being investigated by the Financial Services Authority over its handling of customers in arrears and has set aside £9.4m to cover a potential fine and other costs.

November's gross lending hits 10-year low

20 Dec 2010

Gross mortgage lending in November was an estimated £11.1bn, a 5% drop from the £11.6bn in October and the lowest November total since 2000, show the latest figures from the Council of Mortgage Lenders.

QE2 forecast to set sail next year as fears over growth take hold

13 December 2010

Economists are predicting that the Bank of England will increase quantitative easing by at least £50bn in the new year.

Interest rates held at 0.5%

9 Dec 2010

The Bank of England has once again held interest rates at 0.5%.

House prices fall 0.1% in November

9 Dec 2010

House prices fell by 0.1% in November, shows the latest Halifax house price index.

OFT raps Alpha Mortgages Manchester  

8 Dec 2010

The Office of Fair Trading has imposed requirements on Alpha Mortgages Manchester and three associated companies, over their practices when offering bankruptcy annulment services to customers.

AMI to undergo strategic review

8 Dec 2010

The Association of Independent Financial Advisers along with the Association of Mortgage Intermediaries is to undergo a strategic review.

Openwork advisers switch to new protection panel

6 Dec 2010

More than 200 Openwork firms representing 1,000 users have switched across to the network’s new protection panel, Openwork Select, following its launch in September.

Leeds launches 3.45% three-year fix

6 Dec 2010

The Leeds Building Society has launched a direct-only three-year fixed rate mortgage at 3.45%.

Media Spotlight: How To Sell

6 December 2010

By Jo Owen

Outlook poor as approvals halve

6 December 2010

The Council of Mortgage Lenders has warned that the mortgage market will not return to normal lending levels for the foreseeable future.

Regulatory reform delays approved persons regime

6 December 2010

The Financial Services Authority is delaying the approved persons regime by up to two years, blaming the government’s decision to introduce a new regulator.

House price drops not as severe as previous years

2 Dec 2010

The latest Agency ExpressProperty Activity Index shows that whilst UK monthly house sales fell in November, it was a far less significant drop than the previous three years. 

Mortgages for Business launches BTL four-year fix

1 Dec 2010

Mortgages for Businesses has launched a four-year fixed buy-to-let deal at 4.99%, up to 70% LTV with Platform.

Hanley Economic appoints Gateway as valuation panel manager

1 Dec 2010

The Hanley Economic has chosen Gateway as its new panel manager to look after all its valuations and its valuation process using xit2’s Valuation Exchange platform.

MP hits out at FSA’s reign of fear on mortgages

30 Nov 2010

Labour MP George Mudie has hit out at what he describes as the Financial Services Authority’s reign of fear on mortgages.

Drawbridge relaxes lending criteria

30 Nov 2010

Short and medium-term finance company, Drawbridge Finance, has made a number of changes to its lending criteria.

NatWest Intermediary Solutions revamps range

30 Nov 2010

NatWest Intermediary Solutions has refreshed the rates on a number of its mortgage and remortgage products for both its core and corporate ranges.

The West Bromwich rebrands to West Brom

29 Nov 2010

The West Bromwich building society has rebranded to West Brom.

Macquarie Bank acquires stake in Bluestone

29 Nov 2010

Australia’s Macquarie Bank, which funded Paragon Mortgages return to the market has acquired a 17.5% share in the Bluestone Group.

Mortgage approvals fall for sixth month in a row

29 Nov 2010

Mortgage approvals for house purchase fell in October to 47,185, marking the sixth consecutive monthly fall, shows the latest figures from the Bank of England.

Paragon Group cuts its defaulting loans by 40% as arrears improve

29 November 2010

JOHN HERON: LACK OF FUNDS IN THE SECTOR

Grant Shapps brands MMR “a step too far”

26 Nov 2010

Housing minister Grant Shapps has branded the Financial Services Authority’s Mortgage Market Review paper a “step too far.”

Reluctant landlords on the increase

26 Nov 2010

The recession and subsequent housing market decline has created a wave of reluctant landlords – homeowners who have to let out their property because they cannot sell it, says the Association of Residential Letting Agents.

Colin Snowdon reveals why he left Aldermore

25 Nov 2010

Colin Snowdon has revealed why he has quit as chief executive of Aldermore’s residential mortgage lending.

Colin Snowdon leaves Aldermore

25 Nov 2010

Colin Snowdon, chief executive of Aldermore’s residential mortgage lending, has left the lender.

United Trust Bank to offer larger bridging loans

25 Nov 2010

Specialist property lender United Trust Bank has removed its £2m maximum loan criterion.

Low interest rate is storing up problems, MPC member warns

24 Nov 2010

Monetary Policy Committee member Andrew Sentance, has warned that the longer interest rates are kept at exceptionally low levels, the greater the risk they will need to rise sharply in the future.

borro Introducer offers first time brokers £500

24 Nov 2010

Short-term lender borro Introducer, the intermediary arm of borro.com is offering new brokers the opportunity to receive a one off bonus when they introduce their first case that completes

CAB sees rise in enquiries over rent arrears

24 Nov 2010

The Citizens Advice Bureaux dealt with 14% more housing problems in the three months July – September 2010 compared with the same period last year.

Paragon reports pre-tax profits of £71.8m

24 Nov 2010

The Paragon Group of Companies, Paragon Mortgages’ parent company, has reported pre-tax profits of £71.8m for the year ending September 30 2010.

TrigoldCrystal to offer sourcing for secured and unsecured loans

23 Nov 2010

The Lending Wizard is to join TrigoldCrystal’s software platform to provide online accurate sourcing for both Secured and Unsecured Loans.

Gross mortgage lending at lowest level since 2001

23 Nov 2010

Gross mortgage lending of £7.6bn in October, was the lowest total since February 2001, the latest figures from the British Bankers’ Association show.

OFT raps lenders for use of charging orders

22 Nov 2010

The Office of Fair Trading has imposed conditions on four lenders over the way they use charging orders to recoup debts.

S&P reports improved ranking for Target

22 Nov 2010

Target Servicing has achieved a Standard & Poor’s average ranking for the provision of primary residential mortgages and consumer finance loans in the UK.

Lending boost for Leeds with £250m covered bond deal

22 November 2010

Leeds Building Society has raised £250m of funding through a covered bond issue, enabling it to increase its mortgage lending.

CML and FLA initiative will see members sharing information

22 November 2010

Secured loan and mortgage lenders are to share information as part of plans being discussed between the Council of Mortgage Lenders and the Finance and Leasing Association.

FSA denies planning to get rid of interest-only

22 November 2010

The Financial Services Authority says it has no plans to ban interest-only and any restrictions lenders have made to their criteria are their own doing, not the regulator’s.

Societies well placed to face arrears problems

22 November 2010

Building societies are in a stronger financial position than a year ago, with many well placed to cope with worsening arrears and funding problems, says Fitch Ratings.

Brokers give positive feedback to distribution paper

19 Nov 2010

Paradigm Mortgage Services says attendees at its Mortgage Market Review workshop have given a broadly positive initial reaction to the recently published FSA paper on distribution and disclosure.

John Heron appointed chairman of IMLA

18 Nov 2010

The Intermediary Mortgage Lenders Association has announced its new executive board today.

We don't want to ban interest-only, says FSA

18 Nov 2010

Speaking at the Council of Mortgage Lenders conference today Sheila Nicoll, director of conduct policy at the Financial Services Authority, says it is not its intention to ban interest-only.

Phoebus Software goes carbon neutral

17 Nov 2010

Software provider Phoebus Software has gone carbon neutral.

Mortgage broker launches Facebook competition

16 Nov 2010

Mortgage broker Just Us Mortgages has launched a Facebook competition that will give one winner free conveyancing worth up to £750.

MMR: No need to charge fee if using independent label

16 Nov 2010

The Financial Services Authority is proposing that a firm can still call itself independent if it does not charge a fee.

MMR: Direct-only deals will not need KFI

16 Nov 2010

In its consultation paper today the Financial Services Authority has proposed that when a broker is offering a direct-only deal there will be no need for a Key Facts Illustration.

72% of brokers feel lenders are not listening

16 Nov 2010

Some 72% of intermediaries claim that lenders do not have a good understanding of their needs and issues.

Goldsmith Williams warns brokers over fraudulent legal firms

16 Nov 2010

Goldsmith Williams, says that mortgage brokers should choose their partners carefully, if they are to avoid becoming unwittingly involved in mortgage fraud.

The only way is up

15 Nov 2010

The secured loan sector has had its fair share of problems but the promise of new entrants and funding means it could be ready for take-offonce again

Fitch affirms Vertex's UK servicer ratings

15 Nov 2010

Fitch Ratings has affirmed Vertex Mortgage Service’s UK residential mortgage primary servicer ratings at ’RPS2-prime’ and ’RPS2-sub-prime’.

Leeds raises £250m through covered bond issue

15 Nov 2010

Leeds Building Society has raised £250m of 10-year long-term funding through a covered bond issue, enabling it to increase its mortgage lending.

SMS offers up to £10m through Bank of China

15 Nov 2010

Solent Mortgage Services is offering improved terms on residential and buy-to-let mortgages through Bank of China’s private banking facility.

AMI raises concerns about Which? mortgage service's business model

15 November 2010

ROBERT SINCLAIR: SERVICE MAY BE UNSUSTAINABLE

Pilot scheme to check borrowers' income prevented £111m in fraud

15 November 2010

A pilot scheme allowing lenders to check applicants’ income against HM Revenue and Customs records has prevented £111m of mortgage fraud, says the regulator.

EXPO 2010: FSA says brokers will still have minor role in checking affordability

11 Nov 2010

The Financial Services Authority has revealed today that brokers will still have a role in checking affordability, but that it will be limited to checking how appropriate products are for clients.

EXPO 2010: Interest-only changes have already hit Santander's lending

11 Nov 2010

Iain Laing, chief credit officer at Santander UK, says that the Financial Services Authority’s changes on interest-only have already affected 2% of its lending.

FSA to review 20 lenders’ fraud systems

10 Nov 2010

The Financial Services Authority is to visit 20 mortgage lenders to check they have adequate anti-fraud systems in place.

One in six struggling to pay their mortgage

10 Nov 2010

The number of people struggling to pay their mortgage has surged by 78% over the past year, new research released today by housing charity Shelter has found.

Searches for protection online rise by 39%

10 Nov 2010

Searches for protection products online have increased by 39% since the start of 2010, reveals adviser search site Unbiased.co.uk.

Insolvencies could rocket by 20%

9 Nov 2010

A UK debt charity has warned that the debt crisis looks set to escalate again, despite the latest figures indicating a drop in personal insolvencies.

Horizon Secured Finance rebrands as Strawberry Loans

8 Nov 2010

Horizon Secured Finance has rebranded as Strawberry Loans.

Investec sees growth in high-end mortgage loans

8 Nov 2010

Investec Specialist Private Bank has seen a 46% increase in the number of mortgage deals it has completed between June and August compared to the first three months of 2010.

Brokers back CML's interest-only stance

8 Nov 2010

A whopping 97% of directly authorised brokers believe borrowers should retain responsibility for repaying the capital at the end of the term.

Pensions at the heart of Portal Portfolio lending

08 November 2010

There was a boost for the secured loans sector last week with the launch of lender Portal Portfolio, which uses pensions to fund its loans.

HSBC warns UK government over bank levy

5 Nov 2010

HSBC says its pre-tax profits for the year are well ahead of 2009, but it has warned UK and European regulators that there may be long-term consequences if they impose extra taxes on banks.

New AIFA director general to join on December 1

4 Nov 2010

The Association of Independent Financial Advisers has today announced that its new director general Stephen Gay will join on December 1 2010.

Bank holds base rate at 0.5%

4 Nov 2010

The Bank of England has held interest rates at 0.5% for the 20th consecutive month.

FSA fines mortgage lender

4 Nov 2010

The Financial Services Authority has fined small mortgage lender, Bridging Loans, £42,000 and its director Joseph Cummings £70,000 for serious failures relating to lending practices and for failing to treat customers fairly in arrears.

House prices up 1.8% in October

4 Nov 2010

House prices increased by 1.8% in October, but prices are still 2.3% lower than at the end of 2009, the latest Halifax House Price Index shows.

Y3S offers 90% LTV secured loans

4 Nov 2010

South Wales based loan broker Y3S is launching a 90% LTV secured loan product called the Lifestyle loan.

Platform restricts buy-to-let lending

3 Nov 2010

Platform has made a number of restrictions to its buy-to-let lending criteria and will no longer accept applications from self-employed professional property developers and landlords.

Number of broker products at two-year high

3 Nov 2010

The number of live mortgage schemes available to intermediaries has climbed to its highest level in two years, according to figures released from Mortgage Brain’s Monthly Product Analysis.

Your Mortgage Decisions to focus on protection sales

3 Nov 2010

Your Mortgage Decisions has announced an increased focus on protection sales on the back of the government’s recent Comprehensive Spending Review proposals.

Stricter rules for conveyancers needed, says CML

2 Nov 2010

The Council of Mortgage Lenders is urging The Law Society to implement strict guidelines for conveyancers when it introduces its accreditation scheme in January.

S&P revises Yorkshire's rating from negative to stable

2 Nov 2010

Standard & Poor’s Ratings Services has revised its outlook on Yorkshire Building Society to stable from negative.

Your chance to grill the FSA at MBE

2 Nov 2010

The Association of Mortgage Intermediaries is calling on brokers to submit their questions to the Financial Services Authority in advance of next week’s Mortgage Business Expo.

Demand for commercial property continues to decline

2 Nov 2010

Demand for commercial property continues to decline, with the office sector seeing the largest falls, says the latest Royal Institution of Chartered Surveyors Commercial Market Survey.

Banks should hold more capital than Basel III requires, says King

01 November 2010

MERVYN KING, SHAKE-UP OF BANKS NEEDED

MPC could delay quantitative easing

01 November 2010

Further quantitative easing may be put on hold because of a sharp jump in growth in the economy, says Capital Economics.

PTFS rumoured to have turned down buyout offer from Countrywide

01 November 2010

Personal Touch Financial Services has rejected a buyout offer from estate agency giant Countrywide, Mortgage Strategy understands.

Reluctant landlords return to rental market, says ARLA

29 Oct 2010

The reluctant landlord has returned to the rental market, according to the Association of Residential Letting Agents.

PTFS appoints head of sales development

29 Oct 2010

Personal Touch Financial Services, has appointed Andy Walton to the newly created role of head of sales development.

Mortgage Force ties-up with Integra Profit Management

28 Oct 2010

National mortgage broker, Mortgage Force, in conjunction with Integra Profit Management has announced plans to provide outsourced mortgage solutions for customers of IPM’s financial services agency operations in the South West of England.

Conti offers Italian mortgage rates from 2.50%

28 Oct 2010

Conti, the overseas mortgage specialist, is offering Italian mortgage rates from 2.50%, with mortgages of up to 80% LTV available.

Over 61,000 new tenants enter rental market

27 Oct 2010

Tenant demand reached new heights in Q3 2010 with over 61,000 new tenants registering for rental accommodation – a 19% increase compared to the previous quarter, according to Countrywide.

Mortgages for Business to distribute Aldermore range

27 Oct 2010

Mortgages for Business has been chosen to become part of a select distribution panel for Aldermore Mortgages.

PTFS’s John Ruddick appointed head of IFA

27 Oct 2010

Personal Touch Financial Services has made chief operations officer John Ruddick, head of IFA.

Post Office should be mutualised, says think tank

26 Oct 2010

A new report by Mutuo, a mutuals think tank, is supporting the mutualisation of the Post Office.

Secured loan business down 19% in August

26 Oct 2010

The latest figures from the Finance & Leasing Association show consumer credit business was up 1% in August but secured loan business was down by 19%.

Precise Mortgages gains FSA approval

26 Oct 2010

Precise Mortgages, the specialist mortgage lender, has today confirmed that its application to enter into regulated mortgage contracts as lender has been approved.

Uinsure halves excess on landlord's building and contents cover

25 Oct 2010

Uinsure has halved the excess on its landlord’s building and contents cover to £100.  

Homebank calls on brokers to start TV campaign

25 Oct 2010

Homebank Financial Services, a Northampton based national mortgage and general insurance broker, is calling on brokers to launch a television campaign to highlight the importance of independent financial advice.

Newcastle launches 90% LTV deal

25 Oct 2010

Newcastle Building Society has launched two new fixed rate products, including a 90% deal.

Banks' mortgage approvals down

25 Oct 2010

The latest figures from the British Bankers’ Association show the number of mortgage approvals were down in September.

Funding boost will help Tiuta expand product range

25 October 2010

Tiuta has secured a major funding line that it says will enable it to broaden its range of specialist products.

John Ahmed joins Intrinsic

22 Oct 2010

John Ahmed, a former director of Home of Choice, has joined Intrinsic Financial Services as financial services director.

Woolwich makes interest-only changes

22 Oct 2010

From Monday any Woolwich mortgage over 75% LTV must now be taken out on a repayment basis.

Mortgage affordability in UK no worse than other countries

21 Oct 2010

A study by Capital Economics has found mortgage affordability in the UK is on a par with other countries.

Tesco teams up with Vertex for mortgage launch

21 Oct 2010

Tesco Bank has signed a five year agreement with Vertex, a provider of customer management outsourcing, to support its planned entry into the mortgage market in early summer 2011.

CSR: ISMI changes extended for a year

20 Oct 2010

Chancellor George Osborne has announced in his Comprehensive Spending Review today that the temporary changes to Income Support for Mortgage Interest which were due to expire in January 2011 will be extended for another year.

SMS launches independent case checking for panel lenders

20 Oct 2010

Solent Mortgage Services has launched a new file checking service to assist its panel lenders to meet expected affordability, product development and governance proposals under the Mortgage Market Review.

The UK faces a sobering decade, warns King

19 Oct 2010

Mervyn King, governor of the Bank of England says the UK faces a sobering decade and it will be some time before inflation returns to target.

Trade bodies are too nice, says Treasury Select Committee

19 Oct 2010

The Treasury Select Committee has accused Robert Sinclair, director of the Association of Independent Financial Advisers, and other trade bodies of being too nice when giving evidence on financial regulation.

LSL buys Pink Home Loans

19 Oct 2010

LSL Property Services has agreed to acquire Pink Home Loans and its subsidiary business BDS Mortgage Group from Skipton Building Society, subject to Financial Services Authority approval.

Barclays launches The Great Escape remortgage package

18 Oct 2010

Barclays is launching The Great Escape remortgage campaign tomorrow to try and encourage customers to remortgage from their lenders standard variable rate.

Robert Owen close to launching lender

18 Oct 2010

Robert Owen, former chief executive of White Label Lending, is in the final throes of agreeing funding for a new secured loan lender, to be named Chambers Harris.

Launch of lender venture draws nearer as funding deal advances

18 October 2010

ROBERT OWEN: IN TALKS WITH FUNDERS

Mortgage salary fraud initiative set to launch

18 October 2010

Mortgage lenders will be able to verify the income claimed in a suspected fraudulent mortgage application by the end of the year, HM Revenue &Customs has confirmed.

Paradigm Mortgage Services adds Clydesdale Bank to panel

15 Oct 2010

Paradigm Mortgage Services, the mortgage partnership proposition, has added Clydesdale Bank to the lender panel of Paradigm Financial Advisers, the network service for appointed representatives.

Manchester launches new mortgage deals

14 Oct 2010

Manchester Building Society has launched a number of fixed rate and buy-to-let deals and cut some of its fees.

UK prime RMBS stable in August

14 Oct 2010

The performance of the UK prime residential mortgage-backed securities market continued its stable trend during August 2010, according to the latest indices published by Moody’s Investors Service.

David Aylmer leaves TrigoldCrystal

13 Oct 2010

David Aylmer has left his role as business development and marketing director at TrigoldCrystal and joined Capstone Mortgage Services as IT director.

Hanley Economic links with Manor Mortgages

13 Oct 2010

The Hanley Economic Building Society has linked with packager and specialist distributor Manor Mortgages.

FSA bans three fraudulent mortgage brokers

12 Oct 2010

The Financial Services Authority has banned three individuals for mortgage fraud and fined two of them a total of £414,683.

Pay day loan market may treble in size, warns Datamonitor

12 Oct 2010

UK consumers are becoming increasingly reliant on pay day loans with gross lending set to escalate from £1.2bn in 2009 to £2.7bn in 2010 and possibly as high as £3.5bn by 2014 predicts Datamonitor.

BBA to fight FSA over PPI complaints procedure

11 Oct 2010

The British Bankers’ Association says the Financial Services Authority’s complaints procedure for Payment Protection Insurance risks setting a precedent which will allow the regulator to apply new rules to previous sales for any financial product.

First-time buyer deals down 89% compared to 2006

11 Oct 2010

The number of 90% LTV mortgages originated, typically associated with first-time buyers, fell from 245,000 in 2006 to 28,000 in 2009, a decrease of 89%, shows a new report by Genworth Financial.

Conti links with Mortgage Support Network

11 Oct 2010

Conti has entered into an exclusive partnership with the Mortgage Support Network to provide a specialist referral service for overseas mortgages.

60 seconds with...Colin Snowdon

11 October 2010

Bridging market concerned over EC plans for cooling-off period

11 October 2010

CHRISTIAN FAES, AGAINST AN EC BLANKET RULE

Lloyds could vet one in 20 interest-only cases

11 October 2010

Lloyds Banking Group is to check one in every 20 interest-only applications it receives from brokers, Mortgage Strategy understands.

Pressure builds for MMR rethink as CML warns of borrower impact

11 October 2010

The Financial Services Authority is coming under increasing pressure to rethink proposals in its Mortgage Market Review or risk sacrificing good borrowers.

Coventry cuts rates by up to 0.90%

8 Oct 2010

Coventry for Intermediaries is launching a new range of mortgages on Tuesday, including a five-year fixed rate at 3.99%, up to 75% LTV.

Barclays mortgage lending hits £100bn as it reduces rates

7 Oct 2010

Barclay’s mortgage lending has hit £100bn and as a result the bank has reduced its tracker mortgage interest rates by up to 0.41%

Tesco mortgages to reward customer loyalty

6 Oct 2010

Supermarket giant Tesco says it is on track to launch mortgages in the first half of 2011, but it has not yet applied for its Financial Services Authority permissions.

The Mortgage Works launches new deals

6 Oct 2010

The Mortgage Works is introducing a new set of buy-to-let products.

Viva Costa launches mortgages for Dubai, India and Poland

5 Oct 2010

Viva Costa International has announced the launch of three new countries for mortgages.

HSBC launches reduced rate mortgage range

5 Oct 2010

HSBC has cut the rates on its 80 % LTV mortgage products and launched a new 2.79 % two-year discounted mortgage.

Cambridge appoints head of sales

5 Oct 2010

The Cambridge Building Society has appointed a new head of sales and marketing.

FSA tells firms to act ethically or face another credit crisis

4 Oct 2010

Hector Sants, the chief executive of the Financial Services Authority, says firms must adopt the right culture and ethical behaviour in order to avoid another financial crisis.

Tesco's plans to launch mortgages delayed, says reports

4 Oct 2010

Tesco’s plans to launch mortgages have reportedly been delayed by up to 12 months because it is waiting for its Financial Services Authority permissions, claims the Observer newspaper.

Pink breached FSA rules and PTFS parent made a £3.3m loss last year

4 October 2010

DAVID COPLAND, OUTLOOK FOR 2010 IS BETTER

Post Office reduces rates and launches new deals

2 Oct 2010

The Post Office has reduced some of its rates by up to 0.34% and launched a two-year tracker and fee-saver deals.

Rent on Time launches to broker market

1 Oct 2010

Brokers will now be able to introduce Rent on Time’s products to buy-to-let investors and landlords.

CML suggests alternative to killing-off interest-only

30 Sep 2010

The Council of Mortgage Lenders has submitted its response today to the Financial Services Authority’s consultation paper on interest-only mortgages, in which it suggests an alternative to killing-off interest-only mortgages.

Mortgage broker in Apprentice being investigated for fraud, reports say

30 Sep 2010

It has been reported that Christopher Farrell, who is due to start on The Apprentice next week, is being investigated for fraud and no longer works as a mortgage broker.

TMW revamps range

29 Sep 2010

The Mortgage Works has made some improvements to its buy-to-let and residential prime range.

Skipton restricts interest-only

28 Sep 2010

Skipton Building Society has become the latest lender to restrict its interest-only mortgages and will now only offer them for a maximum of 75% LTV.  

Steve Carruthers joins Ulster Bank as head of intermediary mortgages

28 Sep 2010

Steve Carruthers has joined Ulster Bank as head of intermediary mortgages for Ulster Bank in Northern Ireland.

Savills director quits for diving career

28 Sep 2010

Simon Jones, director at Savills Private Finance, has quit the brokerage to train as a diving instructor in Indonesia.

Skipton withdraws 95% LTV direct deal

27 Sep 2010

Skipton Building Society is withdrawing its 95% LTV direct mortgage on Wednesday.

PMS and Sesame announce mortgage forum roadshow

27 Sep 2010

PMS and Sesame have teamed up to take their mortgage seminars on the road throughout October and November.

Growth accelerates in UK financial services sector

27 Sep 2010

Activity in the UK financial services sector grew in the last three months at the fastest rate since June 2007, although this growth was much slower than was expected, shows the latest survey from CBI and PricewaterhouseCooper.

Cooling-off period for deals may be on cards

27 September 2010

The European Commission could introduce a 10-day cooling-off period for all mortgage contracts, says the Council of Mortgage Lenders.

Lloyds will chase half of B2L sector in 2011

27 September 2010

NIGEL STOCKTON SECTOR NEEDS MORE LENDERS

Mortgage Intelligence to use The Key system

27 September 2010

SALLY LAKER LISTENED TO WHAT MEMBERS WANT

Sales consultants in mortgage sector not up to the mark, says Homebank

27 September 2010

Homebank Financial Services has hit out at the standard of sales consultants in the mortgage indus-try, saying there is a lack of talent.

Mortgage Intelligence switches to Mortgage Brain

23 Sep 2010

Mortgage Intelligence will move from TrigoldCrystal’s point-of-sale system to Mortgage Brain’s The Key in January.

Your Mortgage Decisions sees benefits from fee charging

23 Sep 2010

Mortgage broker, Your Mortgage Decisions, says its new fee-charging structure is reaping rewards for its team of advisers after it was introduced at the start of 2010.

Drawbridge Finance becomes patron of NACFB

22 Sep 2010

Short and medium-term finance specialist, Drawbridge Finance has become a patron of the National Association of Commercial Finance Brokers.

MMR could cause negative net lending for years, says CML

22 Sep 2010

The Council of Mortgage Lenders has warned that the Financial Services Authority’s Mortgage Market Review is fatally flawed and could cause negative net lending for years to come.

Openwork launches new protection panel

21 Sep 2010

Openwork is launching a new protection panel, Openwork Select, which goes live on September 24.

Comparison site calls for lenders to support brokers

21 Sep 2010

Comparison site Moneynet.co.uk says it wants to see more lenders supporting the intermediary market as there’s the danger that without it the depleted broker market could suffer further.

Commission clawbacks lead to network’s demise

21 Sep 2010

Mortgage network Bridge Home Finance has ceased trading after some of its appointed representatives went into liquidation and it had to stump up for indemnity commission clawbacks.

Lenders not passing on low base rate

20 Sep 2010

The Bank of England has published a report on why lenders are failing to pass on the low base rate to mortgage borrowers.

Tenant fraud on the up

20 Sep 2010

Michael Portman, managing director of Let Insurance Services, a specialist referencing and rental insurance company, says the number of fraudulent tenants is on the increase.

Mortgage Times debt recovery hits £40,000

20 September 2010

The administrators for defunct network The Mortgage Times Group have revealed that £40,000 has been collected in commissions and pipe-line monies owed to the network.

Mixed feelings on impact of Basel capital rules on mortgage lending

20 September 2010

ANGELA KNIGHT CHEAP MONEY ERA IS OVER

£40,000 clawed back in Mortgage Times commission

17 Sep 2010

The administrators for defunct network The Mortgage Times Group have revealed that £40,000 has been collected in commissions and pipeline monies owed to the network.

Shapps slams Right to Buy rumours

17 Sep 2010

Housing minister Grant Shapps has denied that he plans to scrap the Right to Buy scheme, after reports suggested the government was reviewing it.

Drawbridge Finance sees 128% increase in AIPs in August

16 Sep 2010

London-based specialist short and medium-term finance company Drawbridge Finance saw a 128% rise in the number of Agreements In Principle issued during August compared to July.

Paragon Advance launches online insurance system

16 Sep 2010

Paragon Advance has teamed up with Zurich Insurance to offer an updated range of insurance policies specialising in the landlord and tenant marketplace

London & Country launches mortgage app for iPhone

16 Sep 2010

London & Country has launched a mortgage application for the iPhone, which has so far received 4,000 downloads.

Abbey for Intermediaries updates online system

15 Sep 2010

Abbey for Intermediaries has made a number of improvements to its online system, which it says are designed to make it easier for intermediaries to do business with AFI.

TMW lowers rates and launches new deals

15 Sep 2010

The Mortgage Works has launched a new 75% LTV buy-to-let dea, aimed at first-time landlords and reduced a number of its rates.

More 2 Life launches drawdown

15 Sep 2010

More 2 Life is adding drawdown to its equity release product range as it expands distribution to all specialist advisers.

Just 2% of new lending over 90% LTV

14 Sep 2010

Figures published by the Financial Services Authority show the proportion of new lending done at an LTV of more than 90% accounted for just over 2% of new advances in Q2 2010.

Buy-to-let RMBS remain stable

13 Sep 2010

The performance of the UK buy-to-let residential mortgage-backed securities market continued its stable trend during July 2010, says Moody’s.

Cheap money era is over, warns BBA

13 Sep 2010

The British Bankers’ Association has warned that the extra capital requirements being placed on banks will lead to the end of the cheap money era and increase mortgage costs.

3mc launches virtual mortgage desk

13 Sep 2010

3mc has launched a virtual mortgage desk which gives mortgage brokers access to a knowledge base of information about the lenders on both its club and packager panels.

Bank of China hikes LTV to 80% in bid to expand UK market share

13 September 2010

IAN BALFOUR LTV HIKE IS GOOD NEWS

New lenders won't appear before economy settles, warns Yousefi

13 September 2010

MEHRDAD YOUSEFI MARKET MUST WAIT UNTIL 2012

The Swift Group appoints Countrywide

10 Sep 2010

Countrywide Surveying Services has been appointed as the sole valuation panel manager for The Swift Group.

Interest rates on hold at 0.5%

9 Sep 2010

The Bank of England has kept UK interest rates on hold at 0.5% for the eighteenth consecutive month.

HSBC launches new 90% LTV deals

8 Sep 2010

HSBC is launching two new 90% LTV deals on Monday, both aimed at first-time buyers.

George Higginson joins Sesame

8 Sep 2010

George Higginson has been appointed chief operating officer at Sesame Bankhall and will join the firm in early 2011 from his previous role at Intrinsic, where he was one of the founding directors.

House prices up 0.2% in August

8 Sep 2010

House prices increased by 0.2% in August, the latest Halifax House Price Index shows.

Personal Touch signs up to All New MortgageBrain

7 Sep 2010

Personal Touch Financial Services has adopted Mortgage Brain’s new sourcing system as one of its preferred mortgage technology solutions for its network community.

Government urged to educate on equity release

7 Sep 2010

 A survey by Bridgewater Equity Release shows advisers believe the government should do more to educate consumers on the benefits of equity release.

OpenConvey appoints Northern Ireland solicitor to panel

7 Sep 2010

OpenConvey has appointed Belfast based solicitors, Wilson Nesbitt, to its specialist conveyancing panel.

In The Loop Mortgages gets the chop

17 Aug 2010

Broker-only lender In The Loop Mortgages is to close to new business as a result of the merger between its parent Stroud & Swindon and Coventry Building Society.

George Higginson leaving Intrinsic

16 Aug 2010

George Higginson, group marketing director at Intrinsic Financial Services is leaving the network.

Concern grows for interest-only as Coventry scraps it for first-timers

16 August 2010

The future of interest-only mort-gages was called into question again last week, with Coventry Building Society dropping it for first-time buyers.

Linx FS switches networks and signs up with PTFS

16 August 2010

Linx FS has joined the Personal Touch Financial Services network.

Question mark hangs over future of Beacon

16 August 2010

CLIVE WILSON: REALISTIC ABOUT MARKET POSITION

Three convicted for conning £4.6m out of providers

16 August 2010

Three individuals, including a for-mer police financial investigator, were last week sentenced to jail for defrauding mortgage providers out of £4.6m.

Rate rises offer brokers remortgage opportunity

12 Aug 2010

Mortgage brokers have significant remortgage opportunities by advising clients to switch to a fixed rate deal, says direct conveyancers, Goldsmith Williams.

Katie Tucker to leave mortgage industry

11 Aug 2010

Katie Tucker, chief operating officer at Private Finance, is to leave the mortgage industry to become a teacher.

Arrest in Primrose case

10 Aug 2010

A 41 year old man is believed to have been arrested in connection with an investigation into Primrose Associates.

Trio sentenced for £4.6m mortgage fraud

10 Aug 2010

Three people, including a former police financial investigator were sentenced yesterday to almost ten years imprisonment in total for defrauding mortgage providers of £4.6m.

Industry rallies in support for Rob Jupp

10 Aug 2010

The mortgage industry has rallied around in support for Rob Jupp, director of Savills Lending Solutions, following the news yesterday that all staff at the firm have been placed in consultation.

Bridgewater parent acquires Home & Capital

9 Aug 2010

Equity release specialist Home & Capital says it remains open for business following the acquisition of its parent company, Sovereign Reversions, by Grainger, owner of Bridgewater Equity Release.

Cheval offers loyalty club

9 Aug 2010

Bridging specialist Cheval has launched a loyalty club for brokers that gives them access to a range of benefits.

Resignations from the FSA up 128% in a year

9 Aug 2010

There has been a 128% leap in the number of staff resigning from the FSA in just one year as the government proposes to abolish the regulator, according to City law firm Reynolds Porter Chamberlain LLP.

Co-operative Bank sees 31% increase in mortgage applications

9 Aug 2010

The Co-operative Bank and Britannia have seen a significant increase of 31% in like for like mortgage applications in the first half of this year.

Fraud quadrupled in the first half of 2010

9 August 2010

Mortgage fraud almost quadrupled in value in the first six months of 2010, according to KPMG’s Fraud Barometer.

Industry saddened to see brand axed as A&L merges into Abbey

9 August 2010

ANDREW MONTLAKE: THIS REDUCES CLIENTS’ CHOICE

Igroup increases LTV to 80%

6 Aug 2010

Igroup has increased its LTV to 80% on a number of deals and introduced an 80% LTV fixed rate which will accept one default in the last 24 months.

Santander to close Wigan office following brand merger

5 Aug 2010

Santander is to close its mortgage and lending operations in Wigan as it merges Alliance & Leicester’s activities into the group.  

Abbey for Intermediaries moves to one intermediary brand

5 Aug 2010

Abbey for Intermediaries has announced that all its intermediary mortgages will be branded Abbey from October 15.

Lloyds maintains 23% gross mortgage share

4 Aug 2010

Lloyds Banking Group has maintained its 23% share of the gross mortgage market and reported a pre-tax profit of £1.6bn for the first six months of the year, compared with a loss of £4bn in the same period a year earlier.

FSA fines Royal Bank of Scotland Group £5.6m

3 Aug 2010

The Financial Services Authority has today fined members of the Royal Bank of Scotland Group £5.6m for failing to have adequate systems and controls in place to prevent breaches of UK financial sanctions.

Uinsure appoints RSA to panel

2 Aug 2010

Uinsure, the general insurance provider, has appointed RSA to its panel. 

The SRA closes down solicitor firm

2 Aug 2010

The Solicitors Regulation Authority has closed down solicitor firm Norman Saville & Co of London and Birmingham, which also traded as UKconvey.

HSBC increases mortgage lending by 3%

2 Aug 2010

HSBC has doubled its profits and reported pre-tax profits of $11.1bn (£7bn) for the first six months of 2010, but its total mortgage lending in the UK has only risen by 3% from December 31 2009 to $96bn (£60bn).

Moneysupermarket.com retracts its direct only stats

2 Aug 2010

Moneysupermarket.com says it supports the broker market and has withdrawn its statistics that claim 90% of mortgage products are currently available direct.

Slimmed-down solicitor panel will help us limit fraud, claims Lloyds

2 August 2010

Lloyds Banking Group says fraud played a part in its decision to cut its solicitor panel across all of its brands.

John Charcol is making a profit, says new owner

2 August 2010

IAN DARBY WE CAN HELP THE FRIM DEVELOP

Rising base rate is still a distant prospect, warns Bank governor

2 August 2010

MERVYN KING A LONG ROAD TO ‘NORMAL’