Mortgage Strategy
Online - November 2011
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FTB Stamp Duty holiday failed, says government
29 Nov 2011
The government has declined to extend the Stamp Duty holiday for first-time buyers as it claims the policy has failed to increase the number of first-time buyers entering the market.
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Islamic Bank of Britain launches Sharia compliant B2L mortgage alternative
1 Dec 2011
Islamic Bank of Britain has entered the buy-to-let mortgage market with the launch of its Sharia compliant buy-to-let purchase plan.
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2011 property sales will be lowest in 40 years
28 Nov 2011
This year is set to register the lowest level of property sales in 40 years, according to Hometrack.
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37% of FTBs have not heard of FirstBuy scheme
7 Nov 2011
Rightmove is warning more could be done to raise awareness of the government’s FirstBuy scheme, after research by the property website revealed 37% of first-time buyers have not heard of the initiative.
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41% of mortgage holders not protected by life cover
2 Nov 2011
Four out of 10 mortgage borrowers in Britain (41%) do not have life insurance that covers their mortgage payments, according to research by Sainsbury’s Life Insurance.
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58% of homeowners have never remortgaged
7 Nov 2011
Barclays is warning that consumers are missing out on a huge cost-saving opportunity after research by the bank revealed that 58% of homeowners have never changed their mortgage aside from moving house.
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60% of parents would be guarantor for child’s mortgage
10 Nov 2011
Six out of 10 parents and grandparents would be prepared to act as a guarantor and use a charge on their own property to help a family member get on the property ladder with a high LTV mortgage, according to research carried out by the Equity Release Solicitors’ Alliance.
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Accord launches low-fee 85% LTV deals
16 Nov 2011
Accord Mortgages is launching a range of 85% LTV mortgage products for those looking to borrow less than £150,000.
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Aldermore offers 100% LTV mortgage via L&G club
7 Nov 2011
Aldermore has widened the distribution of its 100% LTV mortgage by offering it via Legal & General Mortgage Club.
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ASA bans estate agent's tweets
9 Nov 2011
The Advertising Standards Authority has banned a press ad and tweets from estate agency firm Saville Home Management, trading as cmRENT, for being misleading.
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Authorisation process is too drawn out, says CML
3 Nov 2011
The Financial Services Authority should authorise firms earlier and monitor them closely in their first few months of operation rather than hindering innovation with their current drawn out process, according to the Council of Mortgage Lenders.
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Average price of new-build properties up almost 10% year-on-year
16 Nov 2011
The Department for Communities and Local Government’s latest figures for September shows the average price of new-build properties to be up 8.8% year-on-year.
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B2L lending up 16% in Q3
10 Nov 2011
The number of buy-to-let loans advanced in Q3 2011 increased by 16% compared to the previous quarter, according to figures from the Council of Mortgage Lenders.
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Banks' gross mortgage lending up 4%
23 Nov 2011
High street banks carried out gross mortgage lending of £8.0bn in October, down from £8.4bn in September, but 4% higher than in October 2010.
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Barclays announces delay for B2L case processing
11 Nov 2011
Barclays is experiencing processing delays for buy-to-let cases just nine days after launching a range of 75% LTV deals through its mortgage arm Woolwich.
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Barclays increases 75% LTV B2L rates
16 Nov 2011
Barclays is increasing rates on its recently launched 75% LTV buy-to-let deals.
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Barclays told to review underwriting processes
28 Nov 2011
The Information Commissioner has urged Barclays to review its underwriting practices after possible breaches of the Data Protection Act.
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Base rate kept on hold and no more QE
10 Nov 2011
The Bank of England’s Monetary Policy Committee has voted to keep the base rate on hold at its historic low of 0.5%.
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BLG appoints property risk director
2 Nov 2011
Development finance lender BLG, has appointed Neil Richardson, formerly a real estate director at Interbay Funding, as its new property risk director.
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BoE member slams "dishonest" bank lobbying over reform
23 Nov 2011
Robert Jenkins slams banks for their short-termist lobbying tactics.
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BoI clients moving to TMW face SVR shock
7 Nov 2011
The 14,000 mortgage customers transferring from Bank of Ireland to The Mortgage Works as part of a loan book sell-off are facing an almost 2%increase in their SVR.
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Bright Grey launches iPhone app
9 Nov 2011
Bright Grey has launched Bright Touch, a free iPhone app that allows advisers to access product information wherever they are
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Brokers receive six enquires a month from self-employed
15 Nov 2011
The average mortgage intermediary receives six enquiries from clients who consider themselves to be self-employed each month, according to research by Kensington.
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BSA probe into long-term safety nets is a welcome move
30 Nov 2011
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Business as usual, Northern Rock tells brokers
28 Nov 2011
Northern Rock is reassuring brokers that it is business as usual following the bank’s sale to Virgin Money.
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Cambridge ups B2L loan size
21 Nov 2011
The Cambridge Building Society has increased its maximum loan size for buy-to-let mortgages for the second time in as many months.
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Castle Trust joins BSA as an associate
16 Nov 2011
Castle Trust has joined the Building Societies Association as an associate.
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Castle Trust launches mortgage calculators
25 Nov 2011
Castle Trust has developed two online mortgage calculators with the aim of making its partnership mortgages easier to understand.
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CBI calls on government to launch MIG scheme
11 Nov 2011
The government should introduce a mortgage indemnity guarantee scheme to boost the housing market, according to the Confederation of British Industry.
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CBI slashes UK growth forecasts
9 Nov 2011
The Confederation of British Industry has slashed its growth forecasts for the UK economy on the back of continued uncertainty in the eurozone and weaker prospects for exports and investment.
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Chancellor may reveal UK MIG plans in autumn statement
17 Nov 2011
Chancellor George Osborne is expected to announce plans for a mortgage indemnity guarantee backed by the government, in his autumn statement on November 29.
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CHL arrears below industry average
25 Nov 2011
CHL Mortgages has revealed that the number of its buy-to-let loans in arrears is below the industry average.
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CHL Mortgages received 64 complaints in first half of the year
15 Nov 2011
Specialist lender CHL Mortgages received a total of 64 complaints in the first six months of 2011, with just one upheld by the lender.
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Clydesdale and Yorkshire launch second RMBS in two months
24 Nov 2011
Clydesdale Bank and Yorkshire Bank Home Loans have issued their second securitisation in as many months.
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CML calls for extension of Stamp Duty holiday
16 Nov 2011
The Council of Mortgage Lenders is calling on the government to extend its Stamp Duty holiday for first-time buyers.
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CML rethinking repossession forecast for 2011
10 Nov 2011
The Council of Mortgage Lenders says it may lower its repossession forecast for 2011, after the latest figures show a 4% fall in repossessions year-on-year.
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CML: Weighing up the merits of FirstBuy vs the government backed MIG scheme
29 Nov 2011
Paul Smee, director-general, Council of Mortgage Lenders
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Connells acquires Midlands estate agency
8 Nov 2011
Connells has acquired Burchell Edwards, an independent network of 16 estate agency branches in the Midlands.
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Connells appoints Countrywide BDM
16 Nov 2011
Connells Survey and Valuation has appointed Louise Ward as a business development manager, with immediate effect.
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Consumers need simple advice and products, says Swiss Re
16 Nov 2011
Consumers are more aware of the need for financial protection, but the industry needs to respond to this by offering straightforward advice and simple products, according to a report by Swiss Re.
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Co-op Bank cuts five-year fixes by up to 0.90%
9 Nov 2011
The Co-operative Bank is cutting rates on its five-year fixed rate mortgages by as much as 0.90%.
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Coreco offers bridging product at 0.60%
4 Nov 2011
Coreco is offering a bridging product with an initial rate of 0.60% for the first three months, reverting to 1.0% per after for a maximum term of 18 months.
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Coventry launches new deals
8 Nov 2011
Coventry Intermediaries has launched a new range of residential and buy-to-let deals, many with no arrangement fees or ERCs.
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Credit unions given power to compete with banks
9 Nov 2011
Credit unions have welcomed legislative changes that will give them more powers and enable them to compete more effectively with banks and other lenders.
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David Miles: Distorted tax system favours homeowners over renters
23 Nov 2011
External monetary policy committee member suggests policymakers look at ways of addressing this “distortion”.
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Economic uncertainty not stifled need for regulation, says Hoban
10 Nov 2011
The current economic uncertainty in the UK has not stifled the need for regulatory reform of the financial markets, says Mark Hoban, the financial secretary to the Treasury.
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Equity release gets innovative
24 Nov 2011
Equity release is undergoing something of a metamorphosis.
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Equity release sales up 3.8% year-on-year
7 Nov 2011
The number of sales for equity release plans totalled 5,791 in Q3 2011, up 3.8% on the 5,574 sold during the same period last year, according to research from Key Retirement Solutions.
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FirstBuy builders push own brokers on clients
14 Nov 2011
Concerns are growing that house builders are breaching FirstBuy guidelines by forcing borrowers to choose from a restricted panel of brokers.
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Fitch places HML's UK servicer ratings on negative watch
10 Nov 2011
Fitch Ratings has placed Homeloan Management Limited’s UK residential mortgage primary servicer ratings of ’RPS2+(sub-prime)’ and ’RPS2+(prime)’, and UK residential mortgage special servicer rating of ’RSS2-’ on rating watch negative.
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Fitch upgrades Oakwood’s service ratings
11 Nov 2011
Fitch Ratings has upgraded Oakwood’s UK servicer ratings.
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FSA bans broker for fraud and fines him £195,117
17 Nov 2011
The Financial Services Authority has fined John Folan, a director and adviser at Key Mortgage Associates, £195,117 for insurance fraud and prohibited him from carrying on regulated financial services.
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FSA fines and bans network head £49,000 for poor oversight of networks
30 Nov 2011
The Financial Services Authority has fined Julian Harris, the sole proprietor of networks Julian Harris Financial Consultants and the sole shareholder of Julian Harris Mortgages, £49,000.
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FSA fines Fastmoney and bans its director and chief executive
24 Nov 2011
The Financial Services Authority has fined Fastmoney £28,000 for failing to ensure that customers who took out mortgages and bridging loans were treated fairly.
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FSA has spent almost £3m on MMR
21 Nov 2011
The Financial Services Authority has spent over £2.7m so far on the Mortgage Market Review, Mortgage Strategy can reveal.
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FSA: MMR will put interest-only back where it should be
3 Nov 2011
The Mortgage Market Review will restore interest-only to its rightful purpose, according to the FSA.
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FTBs looking to second jobs and loans for deposits
16 Nov 2011
Would-be first-time buyers are taking on second jobs and unsecured loans in order to raise funds for a house deposit, according to research by Santander.
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Government launches MIG scheme for new-build homes
21 Nov 2011
The government has announced details of a mortgage indemnity scheme for first-time buyers as part of its housing strategy.
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Government liability for MIG scheme no more than £1bn
29 Nov 2011
The government’s liability for the mortgage indemnity scheme announced last week will be no more than £1bn, it has revealed.
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Government reveals MIG scheme lenders
21 Nov 2011
The government has revealed the names of the lenders that have signed up to its indemnity scheme announced today as part of its housing strategy.
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Government wants to increase rates on £20bn FSCS loan
10 Nov 2011
Hoban says current terms of £20bn loan are “no longer appropriate”.
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Hinckley & Rugby cuts 90% LTV deals by 0.4%
15 Nov 2011
Hinckley & Rugby Building Society has cut interest rates on two of its 90% LTV mortgages by 0.4%.
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House prices up 1.2% in October
7 Nov 2011
UK house prices increased by 1.2% between September and October to reach an average of £163,311, according to the latest Halifax house price index.
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House prices up 1.6% year-on-year in November
29 Nov 2011
The average UK house price increased by 0.4% in November to reach £165,798, according to Nationwide’s latest index.
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House purchases down 5% in September
11 Nov 2011
Loans for house purchases fell 5% in September comapred to the precious month to £7.1bn, Council of Mortgage Lenders’ data shows.
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Housing equity withdrawal hits new low in Q2 2011
30 Nov 2011
Data out from the Bank of England shows housing equity withdrawal fell to -9.1bn in Q2 2011, down from -£8.9bn in Q1.
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HSBC launches 90% LTV at 3.84%
24 Nov 2011
HSBC has launched a 90% LTV two-year discount deal at 3.84%, with no fee.
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Ian Baker joins Largemortgageloans
10 Nov 2011
Ian Baker, the former sales director of Capital Private Finance, has joined Largemortgageloans.com as senior mortgage manager.
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Ian Darby steps down as Towergate chief
4 Nov 2011
Darby replaced by Dan Saulter.
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IMLA unveils its 2012 executive board
17 Nov 2011
Following its Annual General Meeting in London today The Intermediary Mortgage Lenders Association has announced its 2012 executive board.
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Inflation falls to 5% in October
15 Nov 2011
The UK consumer prices index fell to 5.0% in October, down from 5.2% in September.
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IntelliFlo launches Intelligent Office system for brokers
14 Nov 2011
IntelliFlo has launched a dedicated version of its Intelligent Office system for mortgage brokers.
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Intermediary share of mortgage products rises
7 Nov 2011
The proportion of mortgage products available via intermediaries increased between August and October, according to research by Precise Mortgages.
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Julian Harris appoints new head of compliance in wake of £49,000 fine
30 Nov 2011
IFA and mortgage network Julian Harris, whose managing director and founder was this morning fined £49,000 by the Financial Services Authority, has revealed it has employed a new head of compliance.
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Kensington withdraws securitisation
30 Nov 2011
Investec, the parent company of Kensington, has withdrawn its £204m securitisation as a result of the current market conditions.
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Land Registry: house prices down 0.9% in October
28 Nov 2011
House prices in England and Wales fell by 0.9% in October to an average of £159,999, according to Land Registry data.
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Leeds cuts 10-year fix to 4.99%
22 Nov 2011
Leeds Building Society has reduced the rate on its 10-year fixed rate mortgage by 1% to a market leading 4.99%.
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Leeds launches B2L deals from 4.49%
29 Nov 2011
Leeds Building Society is launching a range of fees-assisted buy-to-let deals with rates starting from 4.49%.
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Lenders should be alert to property club risks
2 Nov 2011
Halloween recently passed and for the industry the spectre of investment clubs has re-emerged. I wonder what this may mean for the market.
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Lloyds announces Horta-Osorio contingency plan
21 Nov 2011
David Roberts will assume interim chief exec if Horta-Osorio’s return is delayed.
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Lloyds confirms two bidders for branches
23 Nov 2011
Bank is also continuing to work on an IPO as a potential alternative to direct sale.
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Lloyds in advance talks with replacement finance director
21 Nov 2011
Lloyds Banking Group has confirmed it is in advanced talks with a potential replacement for its group finance director, Tim Tookey.
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Lloyds reports £3.9bn loss but increases mortgage lending
8 Nov 2011
Lloyds Banking Group has reported a £3.9bn loss for the first nine months of 2011, compared with a £2bn profit a year earlier.
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LSL Property Services buys stake in energy assessment firm
9 Nov 2011
LSL Property Services subsidiary, your-move.co.uk, has acquired a 15% stake in Vibrant Energy Matters Limited, for a cash consideration of £1.
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LSL to acquire London estate agency
4 Nov 2011
LSL Property Services is set to acquire London estate agency Marsh & Parsons.
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Manchester launches 2.99% offset mortgage
30 Nov 2011
Manchester Building Society has launched a 2.99% offset discount product.
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Market town house prices double in a decade
14 Nov 2011
The average house price in market towns across England has more than doubled over the past decade, according to research from Lloyds TSB.
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Markets jump after “QE on steroids” announcement
30 Nov 2011
FTSE is up over 3 per cent
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Martin Gilsenan joins Omni Capital after two month wait
22 Nov 2011
After more than a two month wait Martin Gilsenan, formerly relationship manager at Dragonfly, has finally joined short-term lender Omni Capital as its new director of sales.
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Masthaven secures funding from Saffron BS
16 Nov 2011
Masthaven Bridging Finance has secured a funding line from Saffron Building Society.
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MBE 2011: 11% of Precise's business is interest-only
17 Nov 2011
Some 11% of Precise Mortgages’ new business is on an interest-only repayment basis, managing director Alan Cleary has revealed.
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MBE 2011: B2L and bridging should be regulated, says Precise.
17 Nov 2011
All first-charge residential lending, including buy-to-let and bridging, should be regulated, according to Alan Cleary, managing director of Precise Mortgages.
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MBE 2011: B2L lending will reach £20bn by 2015
17 Nov 2011
Gross buy-to-let lending will reach £20bn plus by 2015, according to The Mortgage Works.
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MBE 2011: Bank based mortgage advice is failing
16 Nov 2011
Offering mortgage advice in branch is failing, says Paul Shearman, proposition director at Openwork.
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MBE 2011: Cost of funds will push up SVRs
17 Nov 2011
Increases in the cost of funding will push up some lenders’ standard variable rates, according to Alan Cleary, managing director of Precise Mortgages.
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MBE 2011: FSA blames authorisation delays on incomplete applications
17 Nov 2011
The Financial Services Authority has blamed its long authorisation process on the fact that many of the lender applications it receives are incomplete.
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MBE 2011: FSA cryptic on MMR release
17 Nov 2011
The Financial Services Authority says it can give no guarantees on when the final paper of the Mortgage Market Review will be published.
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MBE 2011: FSA warns brokers over misuse of bridging
17 Nov 2011
Brokers should not be tempted to use bridging for inappropriate cases in order to shore up their business during difficult times, according to the Financial Services Authority.
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MBE 2011: Gross mortgage lending to be flat next year
16 Nov 2011
The gross mortgage lending market will be flat next year, according to Nigel Stockton, financial services director at Countrywide.
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MBE 2011: KFI may not be scrapped under European mortgage directive
16 Nov 2011
The Key Facts Illustration may not be scrapped as part of the European mortgage directive.
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MBE 2011: Mortgage Brain to launch 'find a broker' app
17 Nov 2011
Mortgage Brain is to launch a mobile app with a ’find a broker’ feature.
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MBE 2011: No interest rate increase until 2013
16 Nov 2011
Interest rates will not increase until at least 2013, some of the top UK mortgage lenders have predicted.
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MBE 2011: UK is leading regulatory discussions
16 Nov 2011
The UK is leading the discussions on the European Mortgage Directive, says Robert Sinclair, director of the Association of Mortgage Intermediaries.
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MBE 2012 heading to ExCeL
23 Nov 2011
The Mortgage Business Expo 2012 will be taking place at the ExCeL exhibition and conference centre.
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Metro Bank has sold just 100 mortgages since launch
11 Nov 2011
New lender Metro Bank has sold just 100 mortgages in the 15 months since it launched, according to
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Money Advice Service spent over £250,000 rebranding website
25 Nov 2011
The MAS forced to reveal website spend by Labour peer Baroness McDonagh.
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More 2 Life expands into Scotland
1 Dec 2011
More 2 Life is launching into the Scottish market, initially through adviser Key Retirement Solutions.
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Mortgage applications down 9% in October
16 Nov 2011
The number of mortgage applications for purchase fell by 9.4% in October after a strong September, according to the latest National Mortgage Index from Mortgage Advice Bureau.
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Mortgage market will be more complex post-FSA, warns CML
3 Nov 2011
The post-Financial Services Authority mortgage market is going to be more complex under the twin peaks of the Prudential Regulation Authority and the Financial Conduct Authority, says the Council of Mortgage Lenders.
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Mortgage products remain at three-year high
3 Nov 2011
The number of mortgage products available to UK mortgage intermediaries has remained at a three-year high for the second month running, according to figures released today from Mortgage Brain’s Monthly Product Analysis.
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Mortgage valuations up 61% year-on-year in October
9 Nov 2011
The number of residential mortgage valuations conducted in October increased by 61% compared to October 2010, according to Connells Survey and Valuation’s latest housing market activity report.
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MPC minutes warn of eurozone threat
23 Nov 2011
The latest minutes from November’s Monetary Policy Committee warn that the UK economy is still in danger from the eurozone crisis.
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Mutuals’ gross mortgage lending up 20% in October
29 Nov 2011
Gross mortgage lending by mutuals totalled £2.3bn in October, a 20% increase on the £2bn advanced in October 2010.
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N&P slashes SVR
4 Nov 2011
Norwich & Peterborough Building Society has slashed its standard variable rate by 0.36%.
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National Counties launches 10-year fix for borrowers aged up to 75
25 Nov 2011
National Counties Building Society has launched a 10-year fixed rate mortgage product for customers up to the age of 75.
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Nationwide extends 90% LTV mortgages to brokers
10 Nov 2011
Nationwide is extending the availability of its 90% LTV mortgages, making them available to all borrowers through the intermediary channel.
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Nationwide refreshes mortgage rates
29 Nov 2011
Nationwide is reducing rates on selected higher LTV products, as well as increasing rates on certain products at 70% LTV and below.
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Nationwide refreshes rates with cuts and increases
15 Nov 2011
Nationwide has refreshed the pricing on its mortgage range, reducing rates on selected products but increasing others.
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Nationwide’s gross mortgage lending up 48%
22 Nov 2011
Nationwide has reported a 48% increase in its gross mortgage lending for the six months to September.
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NatWest Intermediary Solutions launches 60% LTV deals
3 Nov 2011
NatWest Intermediary Solutions has introduced two new purchase mortgages and two new remortgages to its corporate range.
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NatWest launches two 90% LTV deals
23 Nov 2011
NatWest Intermediary Solutions is launching two 90% LTV products for house purchase tomorrow.
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Nothing wrong with lenders giving ‘advice’, says FSA
3 Nov 2011
Mortgage lenders should still be able to say they offer advice, even if they do not compare products from across the whole of the market, says the Financial Services Authority.
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Oakwood rebrands
21 Nov 2011
Oakwood Global Finance is overhauling its brand to reflect its growing service offering.
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October gross mortgage lending up 13% year-on-year
18 Nov 2011
Gross mortgage lending totalled £13.1bn in October, a 13% increase on the £11.6bn lent in October 2010, according to data from the Council of Mortgage Lenders.
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OECD warns of European recession risk
28 Nov 2011
The Organisation for Economic Co-operation and Development is warning that the euro area is set to enter recession and that policies need to be put in place urgently to stop the sovereign debt crisis from spreading.
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OFT publishes guidance for credit brokers
24 Nov 2011
The Office of Fair Trading has today published guidance which sets out the standards it expects from credit brokers and intermediaries.
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Optimism on house prices grows in February
13 Mar 2012
Expectations for future house prices were more optimistic during February, according to the latest UK Housing Market Survey from the Royal Institution of Chartered Surveyors.
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Osborne: UK will not enter recession
29 Nov 2011
The Office for Budget Responsibility has confirmed it does not expect the UK to enter recession next year.
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Paragon reports pre-tax profits of £80.8m
22 Nov 2011
The Paragon Group of Companies, Paragon Mortgages’ parent company, has reported a profit before tax of £80.8m for the year ended September 30 2011, up from £71.8m the previous year.
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Paragon to launch £150m securitisation
2 Nov 2011
The Paragon Group of Companies, the parent company of Paragon Mortgages, is to launch a £150m securitisation.
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Paul Howard to leave Nationwide at the end of the year
14 Nov 2011
Paul Howard, head of corporate accounts at Nationwide, is set to leave the mutual at the end of the year.
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Paymentshield - time to practise what you preach
18 Nov 2011
Paymentshield made a faux pas this morning when an eager salesman told me over the phone that brokers only advise on the deals that offer them the best commission.
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Paymentshield revamps intermediary website
15 Nov 2011
Paymentshield has launched a new intermediary website which it says will offer an improved service to its registered agents.
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Platform launches B2L deals from 3.49%
14 Nov 2011
Platform is launching two buy-to-let mortgage products available exclusively via brokers.
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Precise launches in Scotland
16 Nov 2011
Precise Mortgages is launching its entire product range in Scotland this Friday.
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Precise Mortgages appoints underwriter
21 Nov 2011
Precise Mortgages has recruited Saul Brock as an underwriter, joining its short- term lending team.
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Precise to offer regulated bridging loans in 2012
1 Dec 2011
Precise Mortgages is planning to offer regulated bridging loans in the new year.
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Promise offers self-cert secured loan
25 Nov 2011
Promise Solutions, the loan master broker, is offering a new secured loan product for applicants who can not prove income in a conventional manner and have significant adverse credit.
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Property sales edged up in October
8 Nov 2011
Housing market activity picked up in October, with both property sales and buyer demand increasing, according to the latest housing market survey from the Royal Institution of Chartered Surveyors.
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Property sellers cut prices by £3,500 more than last year
22 Nov 2011
Property sellers are continuing to slash their prices in the hope of getting a sale, with the amount knocked off now standing at a two-year high.
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Proportion of FTB sales falls to three-year low
25 Nov 2011
The proportion of property sales to first-time buyers fell to its lowest level in almost three years in October, according to the National Association of Estate Agents.
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Purchase approvals up 7% year-on-year in October
11 Nov 2011
The number of loan approvals for house purchase increased by 6.7% in October compared to the same month in 2010, according to the latest mortgage monitor survey from e.surv.
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Quarter of Mortgage Rescue Scheme completions in north-west
28 Nov 2011
The north-west accounted for more than a quarter of all completions through the government’s Mortgage Rescue Scheme between April and September 2011.
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RBS announces £2bn pre-tax profits for Q3
4 Nov 2011
Royal Bank of Scotland has reported pre-tax profits of £2bn in the three months to September 30.
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RBS looking at new-build policy
3 Nov 2011
The Royal Bank of Scotland is looking to improve its new-build lending policy, according to the bank’s category director for home and lifestyle.
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Regulating B2L would be beneficial, says FSA
3 Nov 2011
Regulating the buy-to-let market alongside the residential mortgage market would be beneficial, the Financial Services Authority has claimed.
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Remortgage lending up 28% year-on-year in October
29 Nov 2011
Remortgage lending increased by 27.6% year-on-year in October, according to data from the Bank of England.
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Rental market held back by B2L restrictions, says Landlord Assist
21 Nov 2011
Tight lending criteria for buy-to-let mortgages is preventing the rental sector from expanding to meet demand, according to Landlord Assist.
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Renters could overtake home owners in 15 years’ time
15 Nov 2011
In 15 years’ time there could be more renters in the UK than home owners, according to research from Grainger.
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Repossession levels will exceed those of the 90s, says Crown
3 Nov 2011
The arrears and repossessions levels of the current financial cycle will exceed those seen during the 1990s downturn, according to Eric Stoclet, chief executive officer of Crown.
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S&P downgrades major high street banks
30 Nov 2011
Standard & Poor’s has downgraded the long-term credit ratings of several major banks including Barclays and HSBC following changes to its ratings criteria.
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S&P predicts 20% arrears increase even if economy recovers
22 Nov 2011
Arrears levels could increase by more than a fifth even if the economy slowly recovers and interest rates rise gradually, according to Standard & Poor’s.
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Saffron BS has huge appetite to lend
3 Nov 2011
Saffron Building Society has a huge appetite to lend but is being held back by the difficulties of the funding market, according to the mutual’s sales and marketing director.
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Scottish house prices at 90% of peak
28 Nov 2011
The average house price in Scotland rose by 1.7% in the three months to October, the first quarterly rise after three consecutive falls.
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Scottish mortgage lending up 8% in Q3
24 Nov 2011
House purchase lending in Scotland increased by 8% in Q3 2011, according to data from the Council of Mortgage Lenders Scotland.
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Second-time buyers face £11,000 shortfall to move
14 Nov 2011
Those who bought their first property in 2007 are facing a shortfall of £11,000 to move to their next home, according to research from HSBC.
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September property sales in Wales up 12% year-on-year
23 Nov 2011
The number of property sales in Wales was up 12% year-on-year in September at 2,900 transactions, according to the first Welsh house price index from LSL Property Services/Acadametrics.
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Sesame appoints George Higginson as chief exec
8 Nov 2011
Higginson promoted from chief operating officer to chief executive.
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Shapps in radio row over housing figures
25 Nov 2011
Housing minister Grant Shapps lost his cool this morning on BBC Radio 4’s Today programme as he tried to defend figures showing a dramatic fall in the number of new housing starts this year.
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Shapps: Soldiers will go to front of FirstBuy queue
14 Nov 2011
Housing minister Grant Shapps has promised that ex-servicemen and women will go to the front of the queue for government-funded home ownership schemes.
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Shawbrook appoints Target to service its commercial mortgage portfolio
3 Nov 2011
Shawbrook Bank has appointed Target Group to manage and service its growing commercial mortgage portfolio.
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Shawbrook Bank teams up with Target
3 Nov 2011
Specialist loans and savings bank, Shawbrook, has appointed financial outsourcing provider, Target Group, to manage and service its growing commercial mortgage portfolio.
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SHIP opens up membership to advisers
1 Dec 2011
Safe Home Income Plans is opening up its membership to advisers and solicitors as well as providers following a review of its role.
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Strong case for further QE, says MPC’s Weale
28 Nov 2011
There is a strong case for further quantitative easing, according to Martin Weale, a member of the Monetary Policy Committee.
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Surveyors are more than aware of the consequences of a valuation that's too high or low
9 Nov 2011
“Values provide perspective in the best of times and the worst,” were the wise words of Dr Charles Garfield, a former computer scientist for the US’ space programme turned author of a series of books on peak performance.
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Tenet Lime adds two lenders to equity release panel
8 Nov 2011
Tenet Lime has added More2Life and Newlife to its equity release panel following a full review of the panel.
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The cycle of failure
22 Nov 2011
And so the voluminous housing strategy document, designed to get Britain building again, was finally published yesterday.
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The government MIG might be cheap but it isn't free
22 Nov 2011
The government mortgage indemnity guarantee has been welcomed by the housing industry but it is not a free policy.
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Treasury Committee calls for shake-up of BoE
8 Nov 2011
The Bank of England should be made more accountable for its actions, according to MPs on the Treasury Select Committee.
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TrigoldCrystal unveils new product range at Expo
16 Nov 2011
TrigoldCrystal is today unveiling a new range of products at the Mortgage Business Expo in London.
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Uinsure to become general insurance provider for Metro Bank
30 Nov 2011
Metrobank has chosen Uinsure as its general insurance provider.
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UK GDP could fall by 0.1% in Q4
3 Nov 2011
Economic data firm Markit has warned that UK GDP for Q4 could fall by 0.1% after three of its purchasing managers indices dipped in October.
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UK housing market could fall into US-style vicious cycle
24 Nov 2011
The UK housing market could enter a similar vicious cycle to that seen in the US, where falling house prices destroy equity and create a further downward pressure on prices, according to Capital Economics.
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Up to half of Money Advice Service staff to lose their jobs
4 Nov 2011
The MAS told staff yesterday of organisational changes following an internal review.
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We are not to blame for age restrictions, says FSA
3 Nov 2011
The Financial Services Authority has claimed it is not to blame for lenders’ restrictions on lending mortgages beyond retirement age.
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Woolwich temporarily withdraws 75% B2L products
25 Nov 2011
Woolwich has withdrawn its tracker and fixed rate buy-to-let 75% LTV deals in order to manage service levels.
