Mortgage Strategy
Online - June 2011
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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.
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19% of people think funding will thwart mortgage chances
28 Jun 2011
Some 19% of consumers believe they will be unable to obtain a mortgage because of a lack of mortgage funding, according to YouGov research commissioned by Precise Mortgages.
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29% of landlords report rise in rental income in Q2
29 Jun 2011
Some 29% of landlords say their rental income increased during Q2 2011, according to research conducted by Paragon.
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58% of landlords to reduce LHA lettings
14 Jun 2011
More than half of private residential landlords are planning to reduce lettings to tenants on housing benefits as a result of changes to the welfare system, research by the National Landlords Association shows.
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60% fail to update life cover when circumstances change
14 Jun 2011
Sainsbury’s Life Insurance is warning that over five million Britons could be putting their dependants at risk of serious financial difficulty after research revealed that 60% of people with life insurance admit failing to update their level of cover following a significant change in their personal circumstances.
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Abbey allows brokers to upload mortgage documents
27 Jun 2011
Brokers will now be able to upload and submit case information to Abbey for Intermediaries via its Mortgage Application Tracking System.
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Abbey launches five-year fix at 4.99% for one week only
17 Jun 2011
Abbey for Intermediaries has launched two Key Account Exclusives for one week only.
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Abbey launches more seven day deals from 2.99%
23 Jun 2011
Abbey for Intermediaries has launched another set of seven-day mortgage deals, including a flexible offset product at 2.99%.
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Abbey launches seven day key account exclusives
30 Jun 2011
Abbey for Intermediaries is launching a number of key account exclusives tomorrow, which it will be withdrawing at midnight on Thursday 7 July.
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Abbey launches seven-day deals from 1.99%
9 Jun 2011
Abbey for Intermediaries has launched two mortgage products with rates starting from 1.99% for a limited period of one week only.
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Accord launches range of fixed rate mortgages from 2.99%
23 Jun 2011
Accord Mortgages is today launching a range of fixed rate mortgages with rates starting at 2.99%.
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Almost half of landlords seeing increased demand for rental property
2 Jun 2011
Almost half - 49%, of landlords believe demand for rental property from tenants has increased, shows the latest quarterly Landlords Panel research from BDRC Continental in partnership with the National Landlords Association.
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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.
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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.
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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.
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Bank of England urged to start raising interest rates
7 Jun 2011
The Bank of England must begin to raise interest rates gradually this year or risk being forced into a series of panic hikes in 2012, says Stuart Law, chief executive at Assetz.
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Banking chief calls for tough love on repossessions
28 Jun 2011
A policy of tough love would be fairer on homeowners struggling to keep up with their mortgage payments, Richard Banks, chief executive of UK Asset Resolution, has claimed.
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Banks’ gross mortgage lending down 13% annually in May
23 Jun 2011
Gross mortgage lending by the high street banks totalled £7.6bn in May, down 13% compared to May 2010, research from the British Bankers’ Association shows.
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Barclays extends Great Escape offer to 85% LTV
6 Jun 2011
Barclays is extending its range of Woolwich remortgage deals to 85% LTV, including its Great Escape offer.
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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.
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Barclays to compensate PPI customers
13 Jun 2011
Barclays has confirmed it is contacting customers whose payment protection insurance complaints were put on hold on or before April 20 to recompense them in full.
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Barclays to slash rates for the fourth time in six weeks
1 Jun 2011
Barclays is tomorrow cutting rates on Woolwich fixed and tracker mortgages by up to 0.21, the fourth time that it’s reduced rates over the last six weeks.
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Battle for London begins
17 Jun 2011
Coalitions are all the rage at the moment with Countrywide and Mortgage Advice Bureau seemingly inspired by the Conservatives and Liberal Democrats by teaming up to service high-net worth clients.
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BBA: Banks are to blame for claims management firms
29 Jun 2011
Natalie Ceeney, chief executive of the Financial Ombudsman Service, says banks are to blame for an influx in claims management companies.
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BBA: Banks should store up capital for future losses, says BoE
29 Jun 2011
Banks should retain more of their profits over the next few quarters to protect themselves against potential losses in the future, according to Paul Tucker, deputy governor at the Bank of England.
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BBA: Lenders must declare forbearance provisions, says BoE
29 Jun 2011
It is crucial that supervisors are made aware of lenders’ provisions for potential losses being masked by forbearance measures, says Paul Tucker, deputy governor at the Bank of England.
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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.
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BBA: Regulation must be coherent
29 Jun 2011
Speaking at the British Bankers’ Association conference today, Angela Knight, chief executive of the association called for more joined up thinking when it comes to regulation.
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BBA: Resistance to Basel rules disappointing, says MP
29 Jun 2011
It is disappointing to hear mutterings of discontent on the implementation of Basel rules, says Mark Hoban MP, financial secretary to the Treasury.
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BBA: Tough regulation can put UK banks at a disadvantage, says Santander
29 Jun 2011
The tough regulatory environment in the UK risks putting UK banks at a disadvantage compared to their foreign competitors, says Ana Patricia Botin, chief executive officer at Santander UK.
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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.
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Bolton's 40th Birthday bash slammed as worst gig ever by Girls Aloud member
28 Jun 2011
For many people in the UK mortgage market, as it was famously said of the 60s, if you can remember the boom years then you just weren’t there.
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Borro completes first £1m loan
28 Jun 2011
Borro has completed its first £1m loan as the firm says it is setting its sights on the larger loan market.
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Boxing promoter Barry Hughes in court over mortgage fraud
8 Jun 2011
Boxing promoter Barry Hughes and his wife Jacqueline have appeared in court to face charges of mortgage fraud.
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Bridging association adds two more affiliate lenders
1 Jun 2011
Tiuta and Precise Mortgages havetoday joined the Association of Bridging Professionals as affiliate lenders.
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Brightstar appoints business development executive
20 Jun 2011
Specialist distributor Brightstar Financial has appointed a new business development executive at its Brentwood offices.
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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.
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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.
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Castle Trust appoints chief financial officer
27 Jun 2011
Castle Trust has completed the appointment of its management team by taking on Keith Abercromby as chief financial officer.
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Castle Trust appoints head of marketing
24 Jun 2011
Castle Trust has appointed Mikkel Bates as head of marketing.
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Chancellor to call for ring-fencing of retail banks
15 Jun 2011
Chancellor George Osborne is to call for banks to ring-fence their retail operations from their investment banking activity today.
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Chelsea BS reduces mortgage rates
23 Jun 2011
Chelsea Building Society has reduced rates on two of its mortgage products.
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Citri to be placed into liquidation
7 Jun 2011
Citri will be placed into liquidation on July 4.
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Clydesdale Bank reduces residential mortgage rates
13 Jun 2011
Clydesdale Bank is reducing rates across a number of residential fixed and variable mortgage products that are available through brokers.
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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.
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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.
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CML pledges to work with FSA over fraud criticisms
22 Jun 2011
The Council of Mortgage Lenders says it will work with the Financial Services Authority and lenders to tackle fraud after criticisms in the FSA’s thematic review of lenders’ anti-fraud systems.
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Colin Walsh to leave Lloyds Banking Group
22 Jun 2011
Colin Walsh, managing director of mortgages at Lloyds Banking Group has announced that he is leaving the lender and his role as chairman of the Council of Mortgage Lenders.
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Confidence in housing market edges up
15 Jun 2011
Consumer confidence in the housing market increased slightly in June, the latest Building Societies Association Property Tracker shows.
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Connect Overseas launches marketing resource for brokers
10 Jun 2011
Connect Overseas has launched an online resource that aims to help brokers promote an overseas mortgage service to their customers.
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Consumers not paying down mortgage debt faster, says BoE
13 Jun 2011
The decrease in housing equity withdrawal over the last few years is down to a fall in the number of housing transactions since the credit crunch, rather than households paying down debt more quickly than in the past, according to the Bank of England’s latest Quarterly Bulletin.
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Co-op Bank launches 10-year fixes from 5.29%
29 Jun 2011
The Co-operative Bank and Britannia have launched a range of 10-year fixed rate mortgages.
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Co-operative Bank launches second securitisation
21 Jun 2011
The Co-operative Bank has launched its second securitisation, which Moody’s estimates to be around £871.5m.
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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.
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Countrywide to reveal tie-up with Mortgage Advice Bureau
16 Jun 2011
Countrywide and Mortgage Advice Bureau are believed to be on the cusp of announcing a joint venture.
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Coventry BS launches five-year fix at 90% LTV
3 Jun 2011
Coventry Building Society is launching a five-year fixed rate mortgage at 90% LTV aimed at first time buyers.
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Coventry Intermediaries launches B2L fixed rate deals
8 Jun 2011
Coventry Intermediaries is expanding its buy-to-let range with the launch of two five-year fixed rate deals.
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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.
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England’s repossession hotspots revealed
21 Jun 2011
Corby in the East Midlands is the top repossession hotspot in England, according to research by Shelter.
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European regulation could damage UK market, warns IMLA
17 Jun 2011
The Intermediary Mortgage Lenders Association has called for Europe to adopt a principles-based approach to the regulation of the mortgage industry to avoid damaging markets that are more developed such as the UK.
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Ex-Money Partners CEO to head up Omni Capital
29 Jun 2011
The former chief executive officer of GE Money Home Lending and Money Partners Colin Sanders has been appointed CEO at Omni Capital.
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FCA will be more probing regulator
22 Jun 2011
The financial services industry can expect more thematic reviews when the Financial Conduct Authority comes into force next year, says Bob Ferguson, head of financial crime and intelligence at the Financial Services Authority.
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FCA will be tougher and bolder than the FSA
27 Jun 2011
The Financial Conduct Authority will be tougher and bolder than the Financial Services Authority, the regulator has revealed.
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First Direct launches limited edition mortgage range
17 Jun 2011
First Direct has launched a range of limited edition mortgages as part of a number of changes to the structure of its mortgage offering.
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Fixed and tracker rates fall to all time low
27 Jun 2011
Average fixed and tracker mortgage rates have fallen to their lowest level since Moneyfacts started recording them in 1988.
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Former FSA chief heads up new lender
20 Jun 2011
Former Financial Services Authority chairman Sir Callum McCarthy is heading up a new lender called Castle Trust which is seeking regulatory approval to offer mortgage and investment products.
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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.
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FSA appoints board directors for compensation scheme
24 Jun 2011
The Financial Services Authority has appointed three non-executive directors to the board of the Financial Services Compensation Scheme.
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FSA cancels mortgage broker’s permission
2 Jun 2011
The Financial Services Authority has cancelled the permission of Julian Paul Cheetham, trading as one-mortgage.net in Derbyshire.
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FSA cancels two brokers’ permissions over unpaid fees
7 Jun 2011
The Financial Services Authority has cancelled the permission of Select Mortgage Services (Bracknell).
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FSA delays MMR proposals until autumn
23 Jun 2011
The Mortgage Market Review proposals will not be published before early autumn, Lord Turner, chairman of the Financial Services Authority, has revealed.
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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.
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FSA grants extension for PPI complaints
13 Jun 2011
The Financial Services Authority has granted Barclays, Lloyds Banking Group and Royal Bank of Scotland temporary time extensions for the handling of payment protection insurance complaints.
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FSA grants HSBC PPI extension
16 Jun 2011
The Financial Services Authority has agreed to grant HSBC time extensions for the handling of payment protection insurance complaints.
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FSA mortgage fraud guidelines could cost firms £400,000 a year
22 Jun 2011
The total cost of complying with the Financial Services Authority’s mortgage fraud guidance could hit almost £400,000 a year for mortgage companies.
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FSA serves final notice to firm in liquidation
17 Jun 2011
The Financial Services Authority has issued a final notice to Westminster Mortgages Limited to cancel its permission to carry out regulated activities.
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FSA tells lenders to improve broker panel supervision
22 Jun 2011
A number of lenders are not employing due diligence in the management of their broker panels, according to the Financial Services Authority’s Mortgage Fraud Thematic Review.
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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.
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FSA to turn Treating Customers Fairly principles into rules
14 Jun 2011
The Financial Services Authority has revealed that it plans to turn its Treating Customers Fairly principles into a set of rules.
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FSA urges lenders to engage with IFL scheme
22 Jun 2011
The Financial Services Authority has urged to lenders to engage with the Information from Lenders scheme as far as possible in order to stamp out mortgage fraud.
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FSA: lenders not enhancing fraud controls for high risk mortgage products
22 Jun 2011
Some lenders are failing to enhance their fraud controls for high risk mortgage products, says Edna Young, strategy specialist for financial crime and intelligence at the Financial Services Authority.
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FSCP calls for FCA to take fresh regulatory approach
28 Jun 2011
The Financial Conduct Authority must make a ‘quantum leap’ from the approach of its predecessor in order to deliver effective regulation for consumers, according to the Financial Services Consumer Panel.
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FTB demand pushed up residential valuations in May
9 Jun 2011
Residential mortgage valuation activity increased by 22% year-on-year in May due to rising demand from first-time buyers, according to Connells Survey and Valuation’s latest Housing Market Activity Report.
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GE Money launches mortgage deals and cuts rates by up to 0.9%
24 Jun 2011
GE Money Home Lending is reducing rates by up to 0.9% across its mortgage range and introducing a number of new deals.
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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.
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Government puts Northern Rock up for sale
16 Jun 2011
Chancellor George Osborne has confirmed that Northern Rock is up for sale .
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Gross lending by mutuals up 20% year-on-year in May
29 Jun 2011
Gross mortgage lending by mutuals totalled £1.8bn in May, up 20% compared to the £1.5bn lent in May 2010, data from the Building Societies Association shows.
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Gross lending up 19% at mutuals in April
1 Jun 2011
Gross mortgage lending by mutuals increased by 19% in April to £1.7bn, compared to £1.4bn last year, Building Societies Association figures show.
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Gross mortgage lending up 12% in May
20 Jun 2011
Gross mortgage lending increased by 12% in May compared to the previous month, Council of Mortgage Lenders’ figures show.
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Hike in capital requirements would decimate lending, warns HSBC
8 Jun 2011
An increase of just 1% in capital requirements would take hundreds of billions of pounds out of banks’ lending capacity, according to Douglas Flint, group chairman of HSBC.
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HML launches self-service platform for lenders
13 Jun 2011
HML has launched a white-labelled online self-service platform for lenders.
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HMRC investigating property valuations
7 Jun 2011
HM Revenues and Customs is targeting increased numbers of inheritance tax property valuations, according to an accountancy firm.
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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.
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House prices down 1.1% year-on-year in June
30 Jun 2011
House prices were unchanged on a monthly basis in June but fell by 1.1% compared to 2010, according to Nationwide’s latest house price index.
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House prices down 4.2% year-on-year in May
7 Jun 2011
House prices increased marginally in May, by 0.1%, but were down by 4.2% compared to May 2010, according to the latest Halifax House Price Index.
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House prices fell 1.1% in April
14 Jun 2011
Average UK house prices fell by 1.1% in April, according to the latest Communities and Local Government House Price Index.
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House prices up just £20 in May
10 Jun 2011
House prices increased by just £20 in May, compared to April, shows the latest LSL/Acadametrics House Price Index.
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House sales and buyer enquiries down in May
14 Jun 2011
Fears over the economy and the availability of mortgage finance continued to depress housing activity in May, according to the latest Royal Institution of Chartered Surveyors UK Housing Market Survey.
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HSBC reduces rates at 90% LTV
27 Jun 2011
HSBC has reduced rates on its mortgage products at 85% and 90% LTV.
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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.
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Ian Baker appointed as sales director of MAB and Countrywide brokerage
23 Jun 2011
Ian Baker has been appointed sales director of Capital Private Finance, the new joint venture between Countrywide and Mortgage Advice Bureau.
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Industry should not be harking back to loan shark days
30 Jun 2011
I’ve attended a fair few expos in my time and yesterday’s event by the National Association of Commercial Finance Brokers was definitely one of the best ones.
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Inflation expectations a risk to inflation itself, says BoE
13 Jun 2011
There is a risk that inflation expectations will rise and cause inflation itself to increase, the Bank of England has warned.
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Inflation remains unchanged at 4.5%
14 Jun 2011
The Consumer Prices Index remained at 4.5% in May, unchanged from April, show the latest figures from the Office for National Statistics.
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Intercounty raises £4,000 for Shelter
20 Jun 2011
Intercounty has raised £4,000 for homeless charity Shelter after 10 members of staff slept rough for 24 hours.
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Intercounty staff to sleep rough for charity
10 Jun 2011
Intercounty’s managing director will be sleeping rough tomorrow night (June 11) alongside other members of staff to raise money for the homeless charity Shelter.
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Interest rate rise would hit interest-only borrowers hardest
13 Jun 2011
A rise in interest rates would affect borrowers with interest-only loans significantly more than those with a repayment mortgage, according to Moody’s latest edition of Credit Insight.
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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%.
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Intrinsic appoints regional director
20 Jun 2011
Kevin Burnham, formerly director of key accounts at Uinsure, has joined Intrinsic as regional director.
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Is Castle Trust shared equity deal too good to be true?
20 Jun 2011
With the mortgage market still firmly stuck in the doldrums, you would think that any innovation from lenders would be welcomed with open arms.
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Is the FSA prejudiced against brokers?
24 Jun 2011
The Financial Services Authority’s Mortgage Fraud Thematic Review was supposed to inspect lenders’ systems and controls for the prevention of fraud.
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J.P. Morgan and RBS sued for mis-selling mortgage bonds
21 Jun 2011
J.P Morgan and Royal Bank of Scotland are being sued for over $800m (£493m) for the alleged mis-selling of mortgage-backed securities.
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Just 14% of Britons think now is a good time to sell
13 Jun 2011
Only 14% of Britons believe now is a good time to sell property, the latest Halifax housing market confidence tracker shows.
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Just a third of borrowers confident of getting a mortgage
11 Jun 2011
Only one in three borrowers are very confident they would be accepted for a new mortgage if they applied for one, research by Legal & General Mortgage Club and the Association of Mortgage Intermediaries shows.
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Kensington launches capped tracker range
6 Jun 2011
Kensington is launching a range of capped tracker mortgages available up to 80% LTV.
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Kensington makes new appointments
9 Jun 2011
Kensington has expanded its sales team, with two new appointments.
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Kent Reliance re-enters buy-to-let
8 Jun 2011
Kent Reliance Banking Services has re-entered the buy-to-let sector through Manor Mortgages, Complete FS and Mortgages for Business.
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King defends low base rate stance
16 Jun 2011
The governor of the Bank of England has defended the Monetary Policy Committee’s decision to keep the base rate on hold at 0.5% for over two years by claiming such a stance is necessary to rebuild the economy.
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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.
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Lead Magpie launches sales tool for fixed-price leads
27 Jun 2011
Lead Magpie has today launched a tool on its website that allows advisers to purchase leads at a fixed price.
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Leeds BS cuts B2L rates and fees
20 Jun 2011
Leeds Building Society has reduced rates and fees across fixed rate products within its buy-to-let mortgage range.
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Leeds BS cuts five-year fix by 0.36%
28 Jun 2011
Leeds Building Society has reduced the rate on its five-year fixed rate deal at 80% LTV to bring it under 5%.
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Leeds BS cuts rates on shared ownership mortgages
28 Jun 2011
Leeds Building Society has reduced rates by 0.3% on its three-year fixed rate shared ownership mortgages.
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Leeds BS restricts interest-only to 75% LTV
14 Jun 2011
Leeds Building Society has restricted the maximum LTV it will lend on interest-only mortgages to 75%.
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Lenders' bonus culture can encourage fraud, says FSA
22 Jun 2011
Lenders lack understanding that remuneration based solely on sales targets encourages mortgage fraud, the Financial Services Authority claims.
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Lenders should not justify why they decline cases, says FSA
22 Jun 2011
Lenders should not be required to justify why they decline mortgage applications to brokers, says the Financial Services Authority.
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Lenders' underwriting teams overstretched and under qualified, says FSA
22 Jun 2011
There are worrying weaknesses in some lenders’ underwriting processes and teams which expose them to risks of mortgage fraud, the Financial Services Authority has warned.
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Lloyds Banking Group to axe 15,000 jobs
30 Jun 2011
Lloyds Banking Group has announced that it will shed 15,000 jobs over the next three years as part of its strategic review.
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Lloyds confirms Virgin Money and NBNK interested in branch sell off
8 Jun 2011
Antonio Horta-Osorio, chief executive of Lloyds Banking Group, has confirmed that Virgin Money and NBNK Investments plc are interested in purchasing 600 of Lloyds group’s branches.
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Lloyds group has greatest exposure to high LTV mortgages
27 Jun 2011
Lloyds Banking Group has the highest proportion of mortgages at an LTV deemed to be high or very high by the Bank of England, research by the Bank shows.
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Lloyds reported to be shedding 15,000 jobs
13 Jun 2011
Lloyds Banking Group is looking to shed another 15,000 jobs, according to newspaper reports.
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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.
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Money Partners RMBS 34% in arrears
3 Jun 2011
Moody’s has downgraded three tranches of non-confirming residential mortgage-backed securities issued by Money Partners which are currently 34.3% in arrears of 90 days or more.
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More 2 Life increases maximum LTV
8 Jun 2011
More 2 Life has increased its maximum loan-to-value to 55%.
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Mortgage applications up 12.8% in May
28 Jun 2011
The number of mortgage applications processed by Countrywide advisers increased by 12.8% in May, research by the property services group reveals.
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Mortgage approvals edged up in May
29 Jun 2011
The number of loan approvals for house purchase increased marginally in May, data from the Bank of England reveals.
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Mortgage Intelligence adds Accord to lending panel
16 Jun 2011
Mortgage Intelligence and Mortgage Next have added Accord Mortgages to their lending panel.
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Mortgage Intelligence returns to profit
20 Jun 2011
Mortgage Intelligence has returned to profit since being acquired by Countrywide in April.
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Mortgage lenders need to improve fraud systems
22 Jun 2011
The Financial Services Authority will come down hard on lenders which do not use its new report on mortgage fraud to improve their practices, says Tracey McDermott, acting director of enforcement and financial crime at the FSA.
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Mortgages for Business launches B2L calculator
15 Jun 2011
Mortgages for Business has launched a buy-to-let mortgage calculator which matches borrowers’ criteria to mortgage products.
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Move With Us launches affordability tool
27 Jun 2011
Move With Us has launched a property search engine that matches homes to a buyer’s budget and mortgage affordability.
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MPC member says base rate should rise now
13 Jun 2011
The Bank of England base rate should increase now in order to give the Monetary Policy Committee greater flexibility in the medium term, says MPC member Martin Weale.
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MPC member slams BIS report calling for rate rises
27 Jun 2011
A member of the Bank of England’s Monetary Policy Committee has branded a report from the Bank for International Settlements calling for interest rate rises ‘nonsense’.
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Nationwide launches five-year fix at 3.89%
30 Jun 2011
Nationwide is offering a best buy five-year fixed rate mortgage at 3.89% available up to 70% LTV after reducing the majority of its fixed and tracker deals by up to 0.65%.
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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.
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NatWest and Ulster Bank join AMI
24 Jun 2011
NatWest Intermediary Solutions and Ulster Bank have joined the Association of Mortgage Intermediaries as associate members.
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NatWest introduces 50% LTV remortgage deal
24 Jun 2011
NatWest Intermediary Solutions has launched a two-year fixed rate remortgage product at 50% LTV.
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NatWest launches two mortgage deals and cuts rates
8 Jun 2011
NatWest Intermediary Solutions has launched two new mortgage products and reduced rates across a number of existing deals.
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Newlife launches home reversion plans
30 Jun 2011
Equity release provider Newlife has launched two new home reversion products.
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Nine brokers under FSA investigation for fraud
27 Jun 2011
The Financial Services Authority is investigating nine brokers for suspected fraud, Mortgage Strategy can reveal.
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No changes needed to UK economic policy, says IMF
6 Jun 2011
The International Monetary Fund has backed the coalition’s deficit reduction plan by concluding that no changes need to be made to the UK’s economic policies at the current time.
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No pain-free path to inflation target, says MPC member
21 Jun 2011
There is no pain-free means of returning inflation to its 2% target, says Monetary Policy Committee member Paul Fisher.
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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.
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Northern Ireland purchase loans down 23% in Q1
20 Jun 2011
The number of loans for house purchase advanced in Northern Ireland in Q1 2011 fell by 23% compared to both the previous quarter and Q1 2010, according to the Council of Mortgage Lenders.
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Northern Rock cuts mortgage rates by up to 0.50%
13 Jun 2011
Northern Rock has reduced rates on mortgage products from its residential and buy-to-let ranges by up to 0.50%.
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Northern Rock cuts mortgage rates by up to 0.70%
24 Jun 2011
Northern Rock is reducing rates across its purchase, remortgage and buy-to-let mortgage ranges by up to 0.70%.
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Northern Rock launches intermediary exclusives
3 Jun 2011
Northern Rock has launched a number of fixed rate deals available exclusively through its intermediary partners.
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Number of FTB mortgage deals up 32% year-on-year
9 Jun 2011
The number of mortgage products available to first-time buyers has increased by 31.7% in the last year, research by Moneyfacts.co.uk shows.
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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.
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Number of mortgage products reaches three-year high
6 Jun 2011
The number of mortgage products available to intermediaries has reached its highest level in three years, Mortgage Brain’s Monthly Product Analysis shows.
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OFT threatens to cancel Swift's licence
23 Jun 2011
Sub-prime lender Swift, trading as Swift Advances and Swift Securities, must improve its lending and collections practices or it risks losing its credit licences.
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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.
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Openwork promotes Mary-Anne McIntyre to CEO
30 Jun 2011
Openwork has promoted Mary-Anne McIntyre, its current chief operating officer, to the role of chief executive officer.
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Openwork puts 20 staff at risk of redundancy
2 Jun 2011
Openwork has placed 20 of its staff at risk of redundancy as it looks to reduce costs ahead of the Retail Distribution Review.
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Opportunities for brokers in short-term loans market, says Paradigm
7 Jun 2011
Increasing product choice and competition in the short-term lending market is providing opportunities for brokers and their customers, according to Paradigm Mortgage Services.
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Over 200 firms sign up to Law Society’s CQS scheme
1 Jun 2011
The Law Society has warned conveyancing solicitors to ignore the Society’s Conveyancing Quality Scheme at their risk.
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Paradigm adds Cambridge BS to lender panels
15 Jun 2011
Paradigm Mortgage Services has added Cambridge Building Society to its lender panels.
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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.
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Paragon warns landlords are not tax efficient
13 Jun 2011
Paragon is urging buy-to-let investors to ensure they are fully tax efficient after research reveals many are failing to claim for the full range of tax allowances.
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Partnership launches product for the health impaired
15 Jun 2011
Partnership has launched an equity release lifetime mortgage specifically aimed at cash-poor home owners with health or lifestyle issues.
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Peter Hill to take over as chief executive of Leeds BS
24 Jun 2011
Leeds Building Society has announced that Peter Hill will succeed Ian Ward as its chief executive.
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Platform launches tracker mortgages and cuts rates
7 Jun 2011
Platform has today launched a number of semi-exclusive mortgage products and has reduced rates and fees across its mainstream and buy-to-let mortgage ranges.
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PMS adds Cambridge BS to lender panel
8 Jun 2011
PMS has added the Cambridge Building Society to its lender panel.
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Portillion sets launch date of January 1
28 Jun 2011
Portillion plans to launch on January 1 2012, after securing investment of over £58m from SBI Group of Japan.
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Post Office cuts mortgage rates by up to 0.64%
16 Jun 2011
The Post Office is cutting rates across its range of fixed, tracker and buy-to-let mortgages by up to 0.64% with effect from today.
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PRA will have specific insurance objective, says FSA
20 Jun 2011
The Prudential Regulation Authority will have a specific insurance objective and a distinctive approach to supervising insurers, says the Financial Services Authority.
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Precise to launch into interest-only mortgages
29 Jun 2011
Precise Mortgages is to launch into interest-only mortgage lending in the next few weeks.
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Purchase approvals fell for first-time buyers in May
10 Jun 2011
A tightening of lending criteria caused a drop in purchase approvals for first-time buyers in May, according to e.surv’s latest Mortgage Monitor.
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Remortgage business falls 28% in April
14 Jun 2011
The number of loans advanced for remortgage fell by 28% by number and 27% by value in April, data released by the Council of Mortgage Lenders shows.
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Rents up 4.4% year-on-year in May
17 Jun 2011
The average rent in England and Wales increased by 0.5% in May to reach £696, according to the latest Buy-to-Let Index from LSL Property Services.
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Repossessions up 17% in Q1
21 Jun 2011
The number of new repossessions in Q1 2011 increased by 17%, the first rise in a year, according to the Financial Services Authority.
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Royal Wedding and Bank Holidays cause purchase and remortgage numbers to slump in April
1 Jun 2011
The number of loans secured for both purchase and remortgages fell heavily in April to a four month low.
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Scottish Government launches mortgage indemnity scheme
29 Jun 2011
The Scottish Government has launched a mortgage indemnity scheme to help more first-time buyers get on the property ladder.
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Scottish Provident makes commission changes
29 Jun 2011
Scottish Provident will only be offering four-year earnings commission basis from August 1, the firm has announced.
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Shapps launches FirstBuy scheme
20 Jun 2011
Housing minister Grant Shapps has launched the government’s FirstBuy scheme and confirmed that over 100 housebuilders will be taking part.
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Shapps urges mortgage lenders to fund self-build market
20 Jun 2011
Grant Shapps, the housing minister, is calling on the UK’s biggest mortgage lenders to back a self-build revolution by lending more to those who aspire to build their own home.
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Shelter employee given MBE for Mortgage Rescue Scheme work
14 Jun 2011
Carolyn Howell of homeless charity Shelter has been awarded a Member of the Order of the British Empire in the Queen’s Birthday Honours list for her contribution to the Mortgage Rescue Scheme.
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SHIP appoints Paul Smee to review trade body
7 Jun 2011
Safe Home Income Plans has appointed Paul Smee to head its Formation Committee, which will review the trade body and look at the demand for it to expand its membership to advisers, as well as providers.
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SimplyBiz Mortgages teams up with Uinsure
16 Jun 2011
SimplyBiz Mortgages has teamed up with Uinsure to give its member firms access to the insurer’s products.
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Skipton launches B2L fixed rate at 3.99%
8 Jun 2011
Skipton Building Society has launched a fixed rate buy-to-let mortgage that it claims has a market-leading rate.
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Skipton launches mortgage deals and reduces rates
30 Jun 2011
Skipton Building Society is launching a new range of fixed and tracker mortgage products tomorrow, as well as reducing rates across existing deals by up to 0.40%.
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Skipton launches new BTL trackers
1 Jun 2011
Skipton Building Society has launched two new buy-to-let base rate trackers.
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Skipton lowers mortgage rates by up to 0.4%
8 Jun 2011
Skipton Building Society has reduced rates by up to 0.4% on its three and five-year fixed rate mortgages.
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SMS adds Omnii system to online services
8 Jun 2011
Solent Mortgage Services has added Omnii Solutions’ CHECKIT application to its online services.
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Soaring demand could see renters priced out
6 Jun 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.
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Society should determine nature of FCA, says FSA
28 Jun 2011
It is up to society as a whole to decide what kind of regulator the Financial Conduct Authority will be, according to the Financial Services Authority.
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Stonebridge Group announces profits up 22% year-on-year
10 Jun 2011
Stonebridge Group has announced its profits for 2010-11 were up 22% on the previous year, while network turnover increased by 20%.
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Surveyor ‘accepted gifts worth £1m’ in mortgage scam
7 Jun 2011
A Hertfordshire surveyor accepted ‘gifts’ worth £1m as part of a £10m mortgage fraud, the Old Bailey has heard.
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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.
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SVRs are too high, says Which?
22 Jun 2011
The majority of lenders’ standard variable rates are too high and further increases following a base rate hike could leave thousands of households in financial difficulty, Which? has warned.
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Tenant arrears up 13% year-on-year in Q2
28 Jun 2011
The number of tenants over two months in arrears increased by 13% in Q2 2011 compared to the same period in 2010, research by Templeton LPA reveals.
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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.
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Tiuta appoints Simon Englesman as non-executive director
3 Jun 2011
Tiuta has appointed Simon Engelsman to its board as a new non-executive director.
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TMA adds to debt solutions panel
20 Jun 2011
The Mortgage Alliance has added The Debt Advisor to its panel of debt solutions providers.
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TMW launches new mortgage deals and cuts rates
9 Jun 2011
The Mortgage Works is introducing new two-year capped tracker products and fixed rate deals to its residential mortgage range.
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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.
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Trade bodies unite to tackle European regulation
29 Jun 2011
The Council of Mortgage Lenders has joined four other trade bodies in signing up to a cross-industry briefing paper calling for a principles-based and proportionate approach to the regulation of mortgages in Europe.
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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.
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Treasury backs CML proposals to amend European mortgage directive
1 Jun 2011
The Treasury is backing the Council of Mortgage Lenders’ proposals to amend the European mortgage directive.
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Two jailed for £50m mortgage fraud
14 Jun 2011
Two men at Southwark Crown Court have been sentenced to a total of 20 years imprisonment after admitting their role in a £50m deception committed against Cheshire Building Society, the Bank of Ireland, Société Générale and Nationwide Building Society.
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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.
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Unemployment falls by 88,000
15 Jun 2011
UK unemployment fell by 88,000 in the three months to April this year, to 2.43 million, the latest figures from the Office for National Statistics shows.
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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.
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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.
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Volume of agreed house sales up 10.7% in June
27 Jun 2011
The volume of agreed house sales increased by 10.7% in June, Hometrack’s latest Monthly National Housing Survey shows.
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Which? adviser service to open to public in autumn
20 Jun 2011
Which? is expanding its mortgage advice service by hiring more advisers and plans to roll out its offering to the public later this year.
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Yet more lies, damn lies and seasonally adjusted house price statistics
8 Jun 2011
The way providers of house price indices seasonally adjust their figures is a farce or, seasonally adjusted, a comedy.
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Yorkshire BS launches fee-free fixed rate deal
24 Jun 2011
Yorkshire Building Society is today launching a fee-free mortgage product.
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Yorkshire BS launches first securitisation
7 Jun 2011
Yorkshire Building Society has launched into the securitisation market for the first time with a residential mortgage backed securities transaction called Brass No.1 plc.
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Yorkshire BS launches five-year fix at 3.99%
9 Jun 2011
Yorkshire Building Society is launching a five-year fixed rate mortgage with a rate of 3.99%.
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Yorkshire BS opens up Drop Lock range to 90% LTV
17 Jun 2011
Yorkshire Building Society is extending the maximum loan-to-value on its recently-launched Drop Lock mortgage range from 75% to 90%.
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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.
