Mortgage Strategy
Online - August 2011
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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.
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The silver lining for equity release sector
22 Aug 2011
JON KING, MANAGING DIRECTOR, MORE2LIFE
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TMW slashes residential rates by up to 1.40%
15 Aug 2011
The Mortgage Works has cut a number of its rates by up to 1.40% and has extended its 20% annual overpayment allowance to all products.
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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.
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14% of mortgage holders struggling with repayments
10 Aug 2011
Some 14% of mortgage holders say they are struggling with their repayments, according to research by Which?
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14% of mortgages originated since 2005 in negative equity
8 Aug 2011
A quarter of those with mortgages originated since Q2 2005 have equity of less than 10% in their homes, according to research published today by the Council of Mortgage Lenders.
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14-day cooling-off period for mortgages back on the cards
10 Aug 2011
European regulatory powers are once again calling for a 14-day cooling-off period for mortgages.
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Accord joins Next Intelligence’s lending panel
1 Aug 2011
Accord Mortgages has expanded its distribution by joining the lending panel of Next Intelligence, Mortgage Intelligence Holdings’ directly authorised club.
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Adrian Scott appointed head of mortgage services at Connells
18 Aug 2011
Connells has appointed Adrian Scott as group mortgage services director.
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Aldermore to accept first-time landlords for B2L deals
1 Aug 2011
Aldermore will now accept first-time landlords for its buy-to-let products.
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Aldermore ups B2L loan size and scraps income requirement
30 Aug 2011
Aldermore has increased its maximum loan size and scrapped its minimum income requirement for buy-to-let mortgages.
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AMI's policy director quits
23 Aug 2011
Andrew Strange, the policy director of the Association of Independent Financial Advisers, Association of Mortgage Intermediaries and the Association of Finance Brokers, is to leave the organisation.
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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.
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Average five-year fixed rate falls below 5%
10 Aug 2011
The average five-year fixed rate mortgage has fallen below 5% for the first time since Moneyfacts began recording rates in 1988.
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B2L lending up 29% year-on-year in Q2
11 Aug 2011
Gross buy-to-let mortgage lending increased by 29% by volume and 40% by value in Q2 2011 compared to the same period last year, according to data from the Council of Mortgage Lenders.
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Bank cuts UK growth forecast
10 Aug 2011
Bank of England governor Mervyn King has cut its 2011 growth forecast for the UK to around 1.5% from 1.8%, due in part to the debt crisis in Europe.
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Banks pay out £215m in PPI compensation in H1 2011
30 Aug 2011
Firms have paid out a total of £215m during the first half of 2011 in compensation to consumers who were mis-sold payment protection insurance, figures from the Financial Services Authority reveal.
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Barclays cuts fixed rate mortgages by up to 0.41%
22 Aug 2011
Barclays is tomorrow reducing rates by up to 0.41% across its Woolwich fixed rate mortgage range.
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Barclays cuts mortgage rates by up to 0.55%
3 Aug 2011
Barclays has reduced over 40% of its Woolwich mortgage products by up to 0.55% in its seventh consecutive rate cuts.
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Barclays launches offset mortgage deals
31 Aug 2011
Barclays is launching a new range of Woolwich offset mortgages tomorrow for a limited period only.
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Barclays reports 10% fall in gross mortgage lending
2 Aug 2011
Barclays has reported gross new mortgage lending of £7.6bn for the first half of 2011, down on the £8.5bn it did in the first six months of 2010, approximately a 10% fall.
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Barratt looks to sell shared equity loan book
8 Aug 2011
Barratt Developments has confirmed it is looking to sell part of its portfolio of shared equity loans.
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Base rate could drop to 0.25%
15 Aug 2011
Kevin Mountford, head of banking at Moneysupermarket.com, says the likelihood of the base rate being cut to 0.25% is greater now than it has ever been.
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Base rate kept on hold at 0.5%
4 Aug 2011
The Bank of England has voted to maintain the base rate at 0.5%.
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BCC cuts UK growth forecast
1 Sep 2011
The British Chambers of Commerce has cut its growth forecasts for the UK economy for both 2011 and 2012.
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Bloodbath at the banks
6 Aug 2011
The tens of thousands of bank jobs being axed is nothing short of a bloodbath and must concern chancellor George Osborne.
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Bristol & West offers borrowers £1,000 golden goodbye
10 Aug 2011
Bristol & West is offering its mortgage customers an incentive of £1,000 if they remortgage using London & Country.
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Britons expect to become FTBs aged 35
22 Aug 2011
The average age that Britons expect to take their first step onto the housing ladder is 35, according to research from Post Office Mortgages.
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Broker set to sue former client over PPI allegation
8 Aug 2011
A mortgage broker is looking to sue a former client for libel over claims made against him concerning the mis-selling of payment protection insurance.
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Brokers must fight back against irresponsible claims firms
8 Aug 2011
With billions at stake over mis sold payment protection insurance claims management firms are chomping at the bit but it’s time brokers fought back.
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Brunel Franklin putting together own code of practice for claims firms
31 Aug 2011
Financial claims management firm Brunel Franklin has announced that it is resigning from the Claims Standards Council and forming its own code instead.
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Buckinghamshire launches stepped discount mortgage
23 Aug 2011
Buckinghamshire Building Society has launched a three-year stepped discount mortgage.
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Buying a home £100 cheaper than renting
29 Aug 2011
The cost of buying a home for first-time buyers is more than £100 a month lower than renting, according to Halifax.
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Cambridge BS launches 90% LTV deals via L&G Club
8 Aug 2011
Cambridge Building Society has launched a range of mortgage products exclusively through Legal & General Mortgage Club.
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Cambridge BS launches 95% LTV mortgage
9 Aug 2011
The Cambridge Building Society is launching a 95% LTV deal for first-time buyers that offers a reduced interest rate for the first year of the mortgage term.
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Cambridge BS launches three-year fix broker exclusive
30 Aug 2011
Cambridge Building Society has launched a three-year fixed rate remortgage product exclusively via intermediaries.
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Cambridge BS reduces fixed rates by up to 0.80%
4 Aug 2011
The Cambridge Building Society has re-priced its entire range of fixed rate mortgages, cutting rates by up to 0.80%.
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Carlisle mortgage broker sentenced for fraud
4 Aug 2011
A Carlisle mortgage broker has been sentenced to three years imprisonment after pleading guilty to 20 offences of fraud and one offence of money laundering.
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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.
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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%.
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Cheval increases maximum LTV to 75%
18 Aug 2011
Bridging lender Cheval has increased its maximum LTV on residential first charge loans to 75%.
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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.
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Clydesdale and Yorkshire halve mortgage fees for existing customers
8 Aug 2011
Clydesdale and Yorkshire banks are offering signature account customers halved product fees across a range of their mortgage deals.
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Clydesdale launches three-year fixes from 3.19%
1 Aug 2011
Clydesdale Bank is introducing a range of three-year fixed rate mortgages to its intermediary offering.
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Council evicts tenant after son charged in connection with Clapham Junction riots
12 Aug 2011
Wandsworth has become the first council to evict a council tenant whose son was charged today for their involvement with riots that took place in Clapham Junction on Monday night.
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Countrywide appoints associate director of conveyancing
30 Aug 2011
Countrywide has appointed Parveen Kumari as associate director of conveyancing services.
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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.
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Coventry Intermediaries launches four-year fix at 2.99%
11 Aug 2011
Coventry Intermediaries is launching two, three and four-year fixed rate mortgages, all with a rate of 2.99%.
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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.
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Coventry’s good fortune is no coincidence
10 Aug 2011
ADVERTORIAL
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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.
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Dodgy clubs stoke rise in landlord repossessions
22 Aug 2011
Rogue property clubs are fuelling a rise in buy-to-let repossessions, it has been claimed.
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Don’t Panic, Pike!
5 Aug 2011
Just when you thought it was safe to go back in the financial markets…
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Donating just £1 of your proc fee can make a difference
11 Aug 2011
I like to think of myself as someone who’ll try and see both sides of an argument or who’ll consider another’s opinion.
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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.
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Ex-Money Partners duo joins Omni Capital
3 Aug 2011
Former Money Partners bosses Bob Sturges and Jim Nash have joined Omni Capital.
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Ex-moneysupermarket duo to launch protection site
11 Aug 2011
Two former managers at moneysupermarket.com are to launch a new website offering comparison quotes for protection products.
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First-time buyers: Retreating or returning?
15 Aug 2011
First-time buyers have been in the news this week with a report from the Council of Mortgage Lenders, stating that last month saw a 10-month high in the numbers of first-timers purchasing, although still down from this time last year.
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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.
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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.
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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.
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FSA cracks down on advertising ahead of FCA’s new powers
22 Aug 2011
The Financial Services Authority is clamping down on misleading advertising, according to City law firm Reynolds Porter Chamberlain.
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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.
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FSA scraps TCF workshops
17 Aug 2011
The Financial Services Authority has cancelled its programme of regional workshops on treating customers fairly to concentrate its resources on the move to the new regulatory restructure and the RDR.
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FSA to start issuing product warnings in hardline approach
31 Aug 2011
The Financial Services Authority is to start issuing product warnings as part of its hardline approach to product intervention and says it will not wait for Europe to push ahead with tougher product regulation plans.
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FTB affordability at eight-year high
8 Aug 2011
Housing affordability for first-time buyers is at its highest level since 2003, according to the Halifax First-time Buyer Review.
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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.
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GE Money launches FTB deals
30 Aug 2011
GE Money Home Lending is launching a new range of mortgage products aimed at first-time buyers up to 75% LTV.
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Gross mortgage lending down 6% year-on-year in July
18 Aug 2011
Gross mortgage lending totalled £12.6bn in July, down 6% on the £13.3bn lent in July 2010, according to data from the Council of Mortgage Lenders.
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Halifax launches credit service for rejected FTBs
19 Aug 2011
Halifax is today launching a credit service to help first-time buyers understand why they have been rejected for a mortgage and improve their credit profile.
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Halifax launches saver initiative for FTBs
1 Aug 2011
Halifax is offering first-time buyers a £600 reward if they save for a house deposit using an account with the lender.
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Halifax makes changes to self-build criteria
15 Aug 2011
From this Thursday Halifax will no longer accept a remortgage of self-build / building mortgage property, where the applicant is seeking replacement of the lending on a part built property.
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Halifax pulling Retirement Home Plan
12 Aug 2011
Halifax is pulling its Retirement Home Plan on Wednesday.
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Halifax revamps income verification process
17 Aug 2011
From tomorrow, Halifax for Intermediaries is making a number of changes to the way it verifies client documentation.
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Hinckley & Rugby BS launches two-year fix with TBMC
8 Aug 2011
Hinckley & Rugby Building Society is launching a two-year fixed rate buy-to-let mortgage through TBMC.
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Holloway Friendly appoints new directors
10 Aug 2011
Holloway Friendly has appointed two new directors to its board.
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House prices down 2.6% year-on-year in July
12 Aug 2011
Average house prices fell by 0.1% in July compared to the previous month, representing a 2.6% year-on-year decline.
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House prices fall 2.1% in August
15 Aug 2011
House prices have fallen 2.1% in August, compared with July, taking them to £231,543, shows the latest house price index from Rightmove.
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House prices fall by 0.6% in August
1 Sep 2011
House prices fell by 0.6% in August compared to the previous month, according to the latest Nationwide house price index.
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House prices increase 0.3% in July
5 Aug 2011
House prices increased 0.3% in July, taking the average house price to £163,981, shows the latest Halifax house price index.
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House prices will rise 14% by 2015, says Cebr
19 Aug 2011
The Centre for Economics and Business Research says house prices will increase by 14% over the next four years.
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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.
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Housing market in crisis, warns NHF
30 Aug 2011
A chronic under supply of homes is plunging the housing market into crisis, the National Housing Federation has warned.
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HSBC head appointed new chief executive of Yorkshire
19 Aug 2011
Yorkshire Building Society, has appointed Chris Pilling, currently head of branch network at HSBC Bank, as its new chief executive.
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HSBC head of lending appointed CML chairman
8 Aug 2011
Martijn Van der Heijden, head of lending at HSBC, has been appointed the new chairman of the Council of Mortgage Lenders.
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HSBC’s UK mortgage lending up 35%
1 Aug 2011
HSBC has reported gross mortgage lending of £6.7bn for the first six months of this year, up 35% on the £4.92bn advanced in the first half of 2010.
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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.
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Intermediaries increase mortgage market share in Q2
16 Aug 2011
New figures from the Financial Services Authority and Council of Mortgage Lenders show that the level of business via intermediaries rose for first-time buyers and home movers in Q2.
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Intermediated mortgage sales in decline, says FSA
31 Aug 2011
There has been a clear decline in the proportion of mortgages that are sold through intermediaries since Q2 2010, according to the Financial Services Authority.
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Is bridging the new sub-prime?
12 Aug 2011
Bridging is going through a boom period with lenders flooding in and volumes rising as funding is restricted elsewhere.
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John Webster leaves Swift
16 Aug 2011
John Webster has left his position as chief executive officer of sub-prime lender Swift.
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Just Retirement’s sales up 24% in Q2
1 Aug 2011
Just Retirement Limited has reported new business sales of £350.1m for the three months to the end of June, a 23.6% increase on the same period last year.
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L&G launches fundraising scheme with Shelter
10 Aug 2011
Legal & General is asking mortgage brokers to donate £1 of each proc fee they receive to Shelter as part of a new fundraising initiative.
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Landlord optimism at the highest for four years
25 Aug 2011
Landlord optimism is at its highest point for almost four years, according to the National Landlords Association.
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Landlord optimism continues to grow
10 Aug 2011
Almost a quarter of landlords are feeling more optimistic about the prospects for their property portfolios, rental income and yields, buy-to-let mortgage specialist Paragon has revealed.
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Leeds BS cuts fixed rates by up to 1.30%
30 Aug 2011
Leeds Building Society is reducing rates on its two and three-year fixed mortgage products by up to 1.30%.
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Leeds BS cuts two-year fix by 0.65%
4 Aug 2011
Leeds Building Society has reduced the rate on its two-year fixed rate mortgage by 0.65%.
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Leeds increases gross mortgage lending by 61%
9 Aug 2011
Leeds Building Society has reported a 61% increase in gross mortgage lending for the first half of this year.
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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.
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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.
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Lloyds reports 13% drop in gross mortgage lending
4 Aug 2011
Lloyds Banking Group has reported a £3.3bn loss for the first six months of the year and gross mortgage lending of £12.9bn, compared to £14.9bn in the first half of 2010.
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Loan approvals for house purchase up marginally in July
30 Aug 2011
The number of loan approvals for house purchase increased marginally in July, by 1.5%, to 49,239, according to data from the Bank of England.
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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.
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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.
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MAB switches from Trigold to The Core
31 Aug 2011
The Mortgage Advice Bureau has announced that it will be switching its mortgage sourcing software requirements from Trigold to The Core, the sourcing system from Client Data Systems.
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MoneyPlus Group links up with HomeLoan Partnership
1 Aug 2011
Debt management firm MoneyPlus Group has joined forces with HomeLoan Partnership in a deal that will provide the network’s brokers with access to debt solutions.
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Moody’s: Positive outlook for South-East house prices good for RMBS
30 Aug 2011
Consumer expectations of rising house prices in London and the South-East are credit positive for UK residential mortgage-backed securities, according to Moody’s.
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More borrowers using brokers for the first time
24 Aug 2011
A survey of 617 mortgage intermediaries has found that nearly one in five say over half of the clients they have seen in the past three months were talking to a mortgage adviser for the first time.
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Mortgage arrangement fees rise 17% year-on-year
17 Aug 2011
The average mortgage arrangement fee increased by 17% in August compared to the same month in 2010, statistics from Moneyfacts show.
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Mutuals’ gross lending up 6% year-on-year in July
30 Aug 2011
Gross mortgage lending by mutuals increased by 6% in July compared to the same month last year, according to the Building Societies Association.
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Nationwide cuts five-year fix to 3.99% with no product fee
2 Aug 2011
Nationwide is reducing rates across all of its five-year fixed rate mortgages by 0.10% and across all of its two-year tracker deals by 0.15%.
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Nationwide offers three-year fix at 2.89%
9 Aug 2011
Nationwide is reducing the majority of its two-year and three-year fixed mortgage rates for new applications and offering a three-year fixed rate with a £999 fee at 2.89%, up to 70% LTV.
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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.
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NatWest launches FTB cashback mortgage
8 Aug 2011
NatWest Intermediary Solutions is launching a first-time buyer 90% LTV mortgage that comes with £250 cashback.
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NatWest launches new fixed rates
24 Aug 2011
NatWest Intermediary Solutions has added three mortgages to its corporate range and made several rate reductions to both its core and corporate ranges.
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No MPC members voted for rate rise in August
17 Aug 2011
The Bank of England’s Monetary Policy Committee voted unanimously to keep the base rate on hold at 0.5% at its August meeting.
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Northern borrowers 35% more likely to be in arrears
18 Aug 2011
Northern mortgage borrowers are 35% more likely to be in arrears than those in the South, according to Standard & Poor’s.
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Northern Rock bad bank changes policy on forbearance
1 Aug 2011
Northern Rock Asset Management has called time on its forbearance policy of capitalising arrears.
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Northern Rock launches 90% LTV fix at 4.95% for one week
26 Aug 2011
Northern Rock has launched a series of two, three and five-year fixed rate mortgage deals exclusively for brokers for one week only.
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Northern Rock looks to value, not volume
4 Aug 2011
The half-year results announced by lenders over the past few weeks have certainly been eye opening.
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Northern Rock reduces mortgage rates by up to 0.90%
16 Aug 2011
Northern Rock has reduced rates across its mortgage range by up to 0.90% and extended its £500 cashback incentive to include all buy-to-let products with percentage fees.
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Northern Rock’s gross mortgage lending down 25%
3 Aug 2011
State-owned mortgage lender Northern Rock has reported gross mortgage lending of £1.5bn in the first six months of the year, down from £2bn in the same period last year.
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Norton increases commission
25 Aug 2011
Norton Broker Services is introducing a new commission structure, which will see its average commission increase by 41%.
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Number of borrowers at risk of repossession to rise this year
2 Aug 2011
The number of borrowers in arrears or at risk of repossession will increase in the second half of this year, according to the Association of Arrears Mediators.
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Number of FTB mortgages at 10-month high
10 Aug 2011
The number of mortgages taken out by first-time buyers reached a 10-month high in June, according to data from the Council of Mortgage Lenders.
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Omni Solutions signs deal with Promise Finance
17 Aug 2011
IT provider Omnii Solutions has signed a deal with Promise Solutions to offer the master brokerage’s introducer clients access to Omnii’s Client Request CheckIT product.
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Openwork appoints chief operating officer
17 Aug 2011
Openwork has appointed Paul Bridge as chief operating officer, replacing Mary-Anne McIntyre after she was promoted to chief executive officer in June.
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Over 65s have property wealth of £752bn
3 Aug 2011
Homeowners aged 65 plus own a total of £752.1bn in property wealth, according to research from Key Retirement Solutions.
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Paradigm adds Bath BS to lender panels
4 Aug 2011
Paradigm Mortgage Services is adding Bath Building Society to its lender panel for directly authorised firms, as well as the panel of network Paradigm Financial Services.
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Paradigm warns BTL sector not to return to risky practices
26 Aug 2011
Paradigm Mortgage Services is urging brokers and lenders to adopt a responsible approach to the buy-to-let market, given the growing demand and interest in the sector.
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Paragon cuts rates on two-year fixes
8 Aug 2011
Paragon Mortgages is today reducing rates on its two-year fixed rate buy-to-let mortgages by 0.15%.
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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.
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Platform sees gross mortgage lending of £250m
25 Aug 2011
Platform, the intermediary lender of Co-operative Bank, carried out gross lending of £250m in the first six months of the year, its parent company’s results reveal.
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Precise ups loan size to £1m and relaxes self-employed criteria
2 Aug 2011
Precise Mortgages has doubled its maximum loan size for owner-occupiers from £500,000 to £1m and relaxed its lending criteria for self-employed borrowers.
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Predicting the future of buy-to-let lending
12 Aug 2011
For a long time, in our corporate consulting work with mortgage companies and brokers, I have advised lenders and brokers that the ’one size fits all’ mortgage lending approach in buy to let may be nearing the end of its shelf life.
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Previous polls
19 Aug 2011
Click here to see the latest pollDo you have many first-time buyers wanting a gifted deposit from a private seller?You answered:
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Principality launches first securitisation
3 Aug 2011
Principality Building Society has entered the securitisation market for the first time with a £686m issue.
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Principality offers 95% LTV mortgage to first-time buyers
31 Aug 2011
Principality Building Society has launched a 95% LTV first-time buyer mortgage.
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Protection sector has to catch clients early
Online - August 2011
STEVE PAYNE, MANAGING DIRECTOR, PROTECTION, FRIENDS LIFE
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Purchase instructions up 66%, says Conveyancing Alliance
2 Aug 2011
Conveyancing Alliance has reported a 66% increase in purchase instructions and a 33% rise in remortgage instructions for the first half of 2011, compared to the first half of 2010.
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RBS reports 12% fall in gross mortgage lending
5 Aug 2011
The Royal Bank of Scotland has reported a 12% drop in gross mortgage lending and a loss of £794m in the first six months of the year, compared with a £1.1bn profit last year.
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Rents rise for sixth consecutive month
19 Aug 2011
Rents rose for the sixth consecutive month in July to reach a record high, according to LSL Property Services’ buy-to-let index.
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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.
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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.
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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.
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Second-charge repossessions down 12.8% year-on-year
11 Aug 2011
The total number of second-charge mortgage repossessions so far this year is 429, 12.8% lower than in the first six months of 2010, shows the latest figures from the Finance & Leasing Association.
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Sesame Bankhall Group appoints head of group sales
1 Sep 2011
Sesame Bankhall Group has appointed David Kafetz as head of group sales.
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Skipton cuts fixed rate mortgages by up to 0.30%
8 Aug 2011
Skipton Building Society is reducing rates on selected three-year fixed rate mortgages by up to 0.30%.
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Skipton launches 10-year fix at 5.85%
11 Aug 2011
Skipton Building Society is launching a 10-year fixed rate mortgage product with no product fee.
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Skipton launches direct-only five-year fix at 3.89%
12 Aug 2011
Skipton Building Society has launched a direct-only five-year fixed rate mortgage at 3.89%.
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Special Liquidity Scheme to restrict mortgage lending this year
1 Aug 2011
UK lenders’ repayment commitments to the Special Liquidity Scheme will continue to restrict mortgage lending throughout the rest of 2011, according to the European Mortgage Federation.
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Stonebridge launches POS system
22 Aug 2011
Stonebridge Group is today launching a point-of-sale system which interacts with its current client retention and back-office system, Revolution.
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Suing client for PPI libel could breach FSA rules
15 Aug 2011
Regulatory experts warn that brokers who sue clients for complaining could be in breach of Treating Customer Fairly principles.
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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.
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TBMC launches B2L exclusive with Leeds BS
2 Aug 2011
TBMC has launched an exclusive buy-to-let mortgage product with Leeds Building Society.
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TBMC launches exclusives with Hinckley & Rugby
19 Aug 2011
TBMC is launching two exclusive buy-to-let products from Hinckley & Rugby Building Society.
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Tenant demand up 15% year-on-year in Q2
3 Aug 2011
The number of new tenants looking for rental accommodation increased by 15% in Q2 2011 compared to the same period last year, according to Countrywide’s latest Rental Market Review.
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The last of the market's once great packager collectives finally closes its doors
1 Aug 2011
The Alliance of Mortgage Packagers and Distributors has announced today that after five years it is finally closing.
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Three lenders marketing 100% LTV mortgages
11 Aug 2011
There are currently three lenders marketing 100% LTV mortgages in the UK.
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Top six lenders did over 81% of lending in 2010
23 Aug 2011
The top six lenders accounted for an estimated 81.5% of the total volume of lending undertaken last year, show the latest figures from the Council of Mortgage Lenders.
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Trade bodies launch verification scheme to tackle mortgage fraud
30 Aug 2011
A mortgage verification scheme has been launched by HM Revenue & Customs, the Council of Mortgage Lenders and the Building Societies Association in a bid to combat fraud.
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Trade body for financial claims firms launches
1 Sep 2011
The Association of Professional Claims Managers, a new association for financial claims firms has launched today.
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Trading history is biggest barrier for self-employed
30 Aug 2011
The ability to prove adequate trading history is the biggest hurdle faced by the self-employed in obtaining a mortgage, according to research by Kensington.
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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
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UK construction grew 2.3% in Q2
12 Aug 2011
The UK construction industry grew 2.3% in Q2 2011 compared with the previous three months, figures from the Office for National Statistics show.
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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.
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Valuation activity up 47% year-on-year in July
3 Aug 2011
The number of valuations conducted during July rose by 47% compared to the same month in 2010, according to the latest Housing Market Activity Report by Connells Survey and Valuation.
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West One Loans predicts bridging sector will hit £1bn
15 Aug 2011
Bridging lender West One Loans is predicting the bridging sector will hit the £1bn gross lending mark by the summer of 2013.
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Whiteaway Laidlaw Bank acquires Link Loans
22 Aug 2011
Whiteaway Laidlaw Bank has acquired secured loans lender Link Loans.
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Why now is the right time to think about fixing
3 Aug 2011
The proportion of our clients taking fixed rates has fallen steadily from an 18 month peak of 55.8% in February this year, when five-year fixes were still available at close to 4%, to 30% in June and 29% in July as we continued to recommend variable rates to most clients.
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Yorkshire BS makes limited launch into buy-to-let
3 Aug 2011
Yorkshire Building Society is launching its first buy-to-let products today through its broker arm, Accord Mortgages.
