Mortgage Strategy
Online - October 2011
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BSA in plea to head off regulatory turf wars
28 Oct 2011
The BSA has stressed the importance of co-operation between the PRA and the FCA, saying the two bodies should not be fighting “turf wars”.
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UK unemployment hits 17-year high
12 Oct 2011
Unemployment hits 2.57 million.
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1.8 million borrowers paying less on SVR than fixed rates
20 Oct 2011
Around 1.8 million mortgage holders whose fixed rate deals have come to an end are paying on average £2,600 a year less on their lender’s reversionary variable rate.
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81% of best buy deals offered direct, claims HSBC
18 Oct 2011
Direct mortgage lenders offered 81% of the deals in the best buy tables in the past year, according to HSBC.
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90% LTV rates fall to three-year low
6 Oct 2011
The average two-year fixed rate at 90% LTV has fallen to 5.39%, its lowest rate since January 2008, according to Moneyfacts.
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Abbey expected to launch into B2L by end of the year
6 Oct 2011
Abbey for Intermediaries is believed to be planning to enter the buy-to-let market before the end of the year.
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Abbey revamps insurance platform
19 Oct 2011
Abbey for Intermediaries has launched an enhanced trading platform for its Santander Additions range, in a bid to make it even easier for intermediaries to find the right insurance product for their client.
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Accord launches tracker-to-fix range up to 85% LTV
2 Nov 2011
Accord Mortgages is launching a new range of hybrid tracker-to-fix deals up to 85% LTV.
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Accord raises rates due to swap rate volatility
24 Oct 2011
Accord Mortgages is increasing rates across its mortgage range by up to 0.25% today, citing volatile swap rates as the reason for the change.
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AMI promises to take up fake PPI claims with FOS
24 Oct 2011
The Association of Mortgage Intermediaries is asking brokers to send it fictitious payment protection insurance claims they receive from claims firms so it can give them to the Financial Ombudsman Service.
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Another bright idea from Shapps
20 Oct 2011
At the Pink Home Loans conference last week, Robert Sinclair, director of the Association of Mortgage Intermediaries, accused housing minister Grant Shapps of being “invisible” and failing to make a name for himself by solving the UK housing crisis.
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Applaud responsible high LTV innovation
Online - October 2011
Headlines that contain the words ’100% LTV mortgage’ are always going to guarantee a certain degree of interest because such products are scarce.
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ASA bans ad from PPI claims firm
12 Oct 2011
The Advertising Standards Authority has banned an advertisement from Manchester based PPI Careline, for being misleading
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ASA raps SpicerHaart again for misleading ad
5 Oct 2011
The Advertising Standards Authority has banned another advertisement from the SpicerHaart Group, trading as Darlows.
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Average two-year fix falls to record low of 3.82%
4 Oct 2011
The average two-year fixed rate mortgage has fallen to a record low of 3.82%, according to analysis by MoneySupermarket.
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Aviva to axe 950 jobs in Ireland
19 Oct 2011
Aviva has announced 950 job cuts in Ireland as a result of its plans to combine Aviva Ireland and Aviva UK.
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B2L rates rose in Q3
1 Nov 2011
Financial turmoil in the eurozone pushed up buy-to-let rates in Q3 2011, according to TBMC.
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B2L RMBS market improving, says Moody’s
19 Oct 2011
The UK buy-to-let residential mortgage-backed securities market continued to improve in August, according to Moody’s.
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B2L will not come under EU regulation, says CML
10 Oct 2011
The Council of Mortgage Lenders says amendments being added to the European Commission’s mortgage directive would exempt buy-to-let.
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Bank increases QE by £75bn
6 Oct 2011
The Bank of England’s Monetary Policy Committee has increased its quantitative easing programme by £75bn to £275bn, but kept interest rates on hold at 0.5%.
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Bank of Scotland and TMB increase SVRs
17 Oct 2011
The Bank of Scotland and The Mortgage Business are increasing their standard variable rates due to the increased cost of funding.
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Banks’ gross mortgage lending up 7% year-on-year
25 Oct 2011
The banks’ gross mortgage lending totalled £8.4bn in September, up 7% on September 2010.
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Barclays increases LTV on B2L to 75%
2 Nov 2011
Barclays, through its mortgage arm Woolwich, has increased the LTV on its buy-to-let range to 75%, up from 60%.
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Barclays increases rates on half of mortgage range
19 Oct 2011
Barclays has increased rates on almost half of the products within its Woolwich mortgage range.
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Barclays looking to quadruple B2L lending next year
7 Oct 2011
Speaking at the Mortgage Intelligence annual conference yesterday, David Finlay, head of intermediaries at Barclays, told delegates the lender is planning to significantly increase its buy-to-let lending next year.
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Barclays profits up 19% year-on-year
31 Oct 2011
Barclays has reported a pre-tax profit of £5.07bn for the first nine months of 2011, up 19% on the profit of £4.27bn reported for the same period in 2010.
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Beware of Stamp Duty avoidance schemes, says law firm
24 Oct 2011
Law firm Boodle Hatfield says it is seeing a growing number of people turning to schemes that offer ways to avoid paying Stamp Duty.
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BLG Development Finance plans to lend over £150m next year
26 Oct 2011
Business Lending Group Development Finance plans to significantly increase its lending volumes next year after securing new funding.
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Brokers report rise in B2L business in Q3
17 Oct 2011
Buy-to-let mortgages accounted for the highest proportion of brokers’ business in Q3 since Paragon Mortgages started recording the data at the beginning of 2007, research from the lender has revealed.
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BSA: European sympathies for UK lenders growing
20 Oct 2011
European policy makers are becoming increasingly sympathetic towards UK lenders’ concerns about proposals for advised sales within the European Commission’s mortgage directive, according to Paul Broadhead, head of mortgage policy at the Building Societies Association.
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BSA: Govt has no plans to reform Stamp Duty
20 Oct 2011
Shapps asked if Govt has plans to reform “slab” structure of stamp duty.
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BSA: Mortgage industry has failed to engage consumers on MMR
20 Oct 2011
The mortgage industry has failed to engage with consumers on the Financial Services Authority’s Mortgage Market Review, according to Nationwide’s head of mortgage strategy and policy.
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BSA: No space for mutuals in super-prime market
20 Oct 2011
Mutuals need to look to niches in mortgage lending as they are unable to compete in the super-prime market, says the chairman of the Building Societies Association.
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BSA: Yorkshire plans to refresh Chelsea as direct brand
20 Oct 2011
Yorkshire Building Society is planning to refresh the branding of Chelsea Building Society as a direct lender.
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Buyer demand climbs to four-year high in September
28 Oct 2011
Buyer demand for residential property increased for the second consecutive month in September to reach a four-year high, the National Association of Estate Agents’ latest housing report reveals.
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Buy-to-let rates fall by almost 1% in a year
10 Oct 2011
Buy-to-let mortgage rates have fallen by up to 0.92% in the past year, according to research by Defaqto.
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Call for advisers to provide FTB brochures
4 Oct 2011
The chair of the European Parliament’s Economic and Monetary Affairs Committee has called for advisers to provide first-time buyers with an obligatory brochure as part of the European mortgage directive.
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Cambridge BS launches limited edition three-year fix
6 Oct 2011
Cambridge Building Society has launched a limited edition three-year fixed rate mortgage.
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Cambridge doubles B2L loan size to £500,000
17 Oct 2011
The Cambridge Building Society has doubled the maximum loan size it will lend on a buy-to-let basis from £250,000 to £500,000.
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Castle Trust plans December launch
10 Oct 2011
Castle Trust is planning a December launch for its partnership mortgage products, subject to Financial Services Authority authorisation.
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Chelsea Building Society enters offset mortgage market
11 Oct 2011
Chelsea Building Society is entering the offset mortgage market through its branch network.
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Clydesdale and Yorkshire launch £829m RMBS
10 Oct 2011
Clydesdale and Yorkshire banks have issued a £829m securitisation backed by buy-to-let mortgages.
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Clydesdale and Yorkshire reduce high LTV rates
17 Oct 2011
Clydesdale and Yorkshire Banks are reducing rates on their high LTV mortgages for first-time buyers.
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CML conference: FSA risks creating two-tier market
5 Oct 2011
It is imperative that the Financial Services Authority gets the balance right between responsible mortgage lending and a constrained market, according to Keith Green, senior manager for external policy at Nationwide.
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CML conference: Lenders must move away from traditional mortgage lending
5 Oct 2011
If lenders are to overcome the risks presented to the market by shifting housing tenure, they must move away from the traditional mortgage lending model, according to Yolande Barnes, director at Savills Research.
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CML conference: Limited supply of family homes a threat to birth rate
5 Oct 2011
A restricted supply of family-sized rental homes, as well as the difficulties faced by borrowers in trading up to larger homes, is posing a serious threat to the birth rate, says Yolande Barnes, director at Savills Research.
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CML conference: MIG must be brought back, says HBF
5 Oct 2011
Lenders must find a way of using mortgage indemnity insurance to offset the risk of high LTV lending, says the Home Builders Federation.
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CML conference: Only mutuals supporting self-build, says BuildStore
5 Oct 2011
Mortgage finance support from non-mutual lenders is poor, the chief executive officer of BuildStore Financial Services has claimed.
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CML conference: Private rented sector to account for 20% of housing by 2020
5 Oct 2011
If current trends continue the private rented sector will account for 20% of the housing market by 2020, according to Yolande Barnes, director at Savills Research.
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CML conference: Regulation is stifling innovation
5 Oct 2011
Onerous regulation is stifling innovation in the mortgage market and will cause lenders to stick to low LTV lending, according to Nationwide.
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Competitive B2L market needs robust underwriting
12 Oct 2011
Finding customers with star quality when it comes to their credit history is like the X Factor judges finding a host of great singers to take part in the show, it is what every lender wants.
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Complete FS offers 85% buy-to-let
28 Oct 2011
Mortgage distributor and packager Complete FS has launched an 85% buy-to-let product through Kent Reliance.
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Connells Group adds Kent Reliance to lender panel
19 Oct 2011
Connells Group has added Kent Reliance to its panel of lenders in order to widen its mortgage offering in the buy-to-let and shared ownership sectors.
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Consumer confidence falls for fourth month in a row
21 Oct 2011
Consumer confidence fell for the fourth consecutive month in September, according to Nationwide’s Consumer Confidence Index.
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Co-op Bank cuts fixed rates by up to 0.6%
12 Oct 2011
The Co-operative Bank is relaunching its fixed rate mortgage range this Friday with rate reductions of up to 0.60%.
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Co-op Bank launches 3.39% five-year fix
19 Oct 2011
The Co-operative Bank has launched a market-leading five-year fixed rate mortgage exclusively for its current account holders.
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Countrywide sets up new-build conveyancing team
27 Oct 2011
Countrywide Conveyancing Services has set up a specialist conveyancing team for new-build properties.
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Court upholds Paragon's action on £6.9m B2L debt
31 Oct 2011
Paragon Mortgages’ decision to call in £6.9m worth of buy-to-let loans from an investor couple who fell into arrears has been vindicated in a recent High Court ruling.
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Coventry Intermediaries appoints Kevin Purvey as head of national accounts
24 Oct 2011
Coventry Intermediaries has appointed Kevin Purvey, the former head of sales at Cheltenham & Gloucester and Scottish Widows Bank, as its new head of national accounts.
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Coventry Intermediaries launches residential and B2L deals
25 Oct 2011
Coventry Intermediaries has launched a new range of residential and buy-to-let mortgages including fixed, flexx, trackers and capped products with no Early Repayment Charges.
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Coventry issues €650m covered bond
19 Oct 2011
Coventry Building Society has secured €650m in funding from European financial markets through a covered bond deal.
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Crown Mortgage Management upgraded by Fitch
20 Oct 2011
Fitch Ratings has upgraded UK mortgage servicer Crown Mortgage Management to 3+ across its residential and commercial, primary and special servicing.
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Dilnot report risks welfare of elderly, warns MP
3 Jan 2012
The Dilnot Commission report into the funding of care for the elderly does not focus enough on the quality of care older people receive, according to a Conservative MP.
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Equity release advances up 12% in Q3
18 Oct 2011
Equity release advances increased by 12% in Q3 to reach the highest level of lending seen since the beginning of 2010.
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Equity release at Just Retirement rockets by 22% in 2011
11 Oct 2011
Just Retirement’s full year results show equity release advances rocketed by 22% to hit £242m, up from £197.5m in 2010.
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Experts warn mortgage market is on the verge of another crunch
28 Oct 2011
Mortgage experts warn the UK could be on the brink of another credit crunch if the spread between Libor and base rate continues to increase.
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Families to see their income drop £2,000 by 2013
11 Oct 2011
A typical family will see their annual income fall by around £2,000 by 2013, a report out today from the Institute for Fiscal Studies says.
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Financial services firms expect slower growth and job losses in Q4
3 Oct 2011
The pace of growth in the financial services sector continued to slow in the three months to September, and is expected to slacken further in Q4, according to the latest Confederation of British Industry/Pricewaterhouse Coopers financial services survey.
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Fitch downgrades Lloyds and RBS
13 Oct 2011
Fitch Ratings has downgraded Lloyds Banking Group and Royal Bank of Scotland from AA- to A.
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Fraud prevention scheme launched
12 Oct 2011
A fraud initiative has been launched by a coalition of public, private and voluntary organisations with the aim of significantly reducing fraud by 2015.
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FSA appoints FOS chairman
23 Nov 2011
The Financial Services Authority has appointed Sir Nicholas Montagu as the new chairman of the Financial Ombudsman Service.
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FSA extends sale and rent back regulation
16 Sep 2011
The Financial Services Authority has extended its regulation of sale and rent back by bringing all transactions under its control from today unless it is to family members or a partner.
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FSA intervenes in design of structured products
2 Nov 2011
The Financial Services Authority is publishing guidance for firms on the design of structured products - pre-packaged investment products - after a review found firms are putting their commercial interests before consumer needs.
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FSA intervenes on PPI product design
1 Nov 2011
The Financial Services Authority has issued guidance on the design of payment protection products, the first time it has intervened in the design of a specific product.
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FSA to discuss latest on MMR at Expo
26 Oct 2011
This year’s Mortgage Business Expo will have a strong focus on both European regulation and the Mortgage Market Review, organisers have announced.
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FSA to issue warning on lease options
18 Oct 2011
The Financial Services Authority is to issue a warning on lease options, financially risky agreements whereby distressed sellers hand over the running of their property to an investor for a set period of time.
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FTB approvals fall to seven-month low
14 Oct 2011
Purchase approvals for those with a deposit of 25% or less fell to their lowest proportion since February last month, according to e.surv’s latest mortgage monitor.
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Furness and Manchester BS launch 90% LTV scheme
7 Oct 2011
Furness and Manchester Building Societies have launched a scheme in association with Barratt Homes for those with a 10% deposit.
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Gareth Lewis joins Precise Mortgages
5 Oct 2011
Gareth Lewis, the former head of business development at Tiuta, has joined Precise Mortgages as its head of sales.
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GE Money Home Lending offers mortgages to self-employed
24 Oct 2011
GE Money Home Lending will start offering mortgages to self-employed customers from November 1.
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Gina Fry joins United Trust Bank
10 Oct 2011
United Trust Bank has appointed Gina Fry as a case manager.
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Gross bridging lending to total £800m this year
20 Oct 2011
Gross lending in bridging finance is expected to total £800m in 2011, according to West One Loans’ bridging finance index, a new quarterly report published for the first time today.
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Gross mortgage lending down 2% in September
20 Oct 2011
Gross mortgage lending totalled an estimated £12.9bn in September, down 2% from the £13.1bn lent in August but 4% higher than September 2010, according to new data from the Council of Mortgage Lenders.
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Gross mortgage lending likely to fall in 2012, says AMI
21 Oct 2011
The Association of Mortgage Intermediaries is predicting gross lending of between £130bn and £135bn in 2012.
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Hanley BS offers 95% LTV deal via brokers
3 Oct 2011
Hanley Economic Building Society is now offering its 95% LTV mortgage via brokers.
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HMRC chasing £35m in Stamp Duty avoidance
28 Oct 2011
HMRC identified 1,200 people using stamp duty avoidance schemes costing Exchequer £35m a year.
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HMRC targets wealthy tax cheats with foreign property
1 Nov 2011
A 200-strong team of investigators will be cracking down on wealthy tax cheats who own property overseas, HM Revenue & Customs has announced.
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House prices to fall 10% by 2013
12 Oct 2011
Weak economic growth and falling employment will cause house prices to fall 10% by 2013, according to Capital Economics.
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House prices up 0.4% in October
1 Nov 2011
The average house price in the UK increased by 0.4% in October to reach £165,650, according to Nationwide’s latest house price index.
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Housing supply falls as demand increases
11 Oct 2011
Fewer vendors put their homes up for sale during September, as fears over the economy continued to impact negatively on the housing market, according to the Royal Institution of Chartered Surveyors.
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Housing transactions buoyant in September
14 Oct 2011
Housing transactions increased by 9.5% in September on a seasonally adjusted basis, according to the latest house price index from LSL Property Services/Acadametrics.
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HSBC does it again
19 Oct 2011
HSBC has once again claimed that it “accepts around nine in 10 of all customers who apply for a mortgage” - ha, ha, don’t make me laugh.
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HSBC pledges £350m to FTB lending
14 Oct 2011
HSBC has committed a further £350m to first-time buyer lending and launched a raft of competitive high LTV deals.
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Ian Baker departs Capital Private Finance
12 Oct 2011
Ian Baker has left his position as sales director of Capital Private Finance, after less than four months in the role, Mortgage Strategy can reveal.
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Inflation climbed to 5.2% in September
18 Oct 2011
The Consumer Prices Index measure of inflation increased to 5.2% in September, up from 4.5% in August, according to the Office for National Statistics.
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Innovation is key to the Coventry’s success
1 Dec 2011
ADVERTORIAL
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Intermediary product numbers up 96% in a year
7 Oct 2011
The number of mortgage products available to intermediaries increased for the 10th month in a row in October, according to Mortgage Brain’s latest monthly product analysis.
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Investec launches £204m Kensington securitisation
1 Nov 2011
Investec, the parent company of Kensington, has launched a £204m securitisation.
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Just Retirement blames economy for fall in equity release sales
31 Oct 2011
Just Retirement’s equity release mortgage advances totalled £65.1m in Q3 2011, down by 6.7% on the £69.8m advanced in the same period last year.
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Kensington blames Irish crisis for negative equity
3 Oct 2011
Kensington Group’s exposure to the Irish market has led to a quarter of its mortgage book falling into negative equity.
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Key Retirement Solutions teams up with Unique
26 Oct 2011
Key Retirement Solutions and Unique Insurance Services have teamed up to launch a countrywide equity release service.
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L&G Mortgage Club ties up with Positive Solutions
26 Oct 2011
Legal & General Mortgage Club has announced a new partnership with Positive Solutions.
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Labour MP slams FSA again over MMR
18 Oct 2011
Labour MP George Mudie has once again been critical of the Financial Services Authority’s Mortgage Market Review and called on the chancellor to step in.
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Leeds BS launches two-year fix at 1.99%
4 Oct 2011
Leeds Building Society has launched its lowest ever fixed rate mortgage, a two-year fix at 1.99%.
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Leeds extends interest-only criteria
13 Oct 2011
Leeds Building Society has extended its interest-only criteria, allowing this type of borrowing on more products and at higher LTVs.
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Legal ruling could transform mortgage market
6 Oct 2011
Goldsmith Williams has welcomed today’s introduction of Alternative Business Structures as something that could transform the mortgage industry.
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Lenders must consider bonus and commission, say intermediaries
5 Oct 2011
More than a quarter of mortgage intermediaries say over half of their clients receive regular bonus or commission that they would like to be considered by a lender to boost their affordability assessment.
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Lloyds chief Horta-Osorio steps back on health grounds
2 Nov 2011
Outgoing finance director Tim Tookey takes on the role of acting chief executive.
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Lloyds considers floating bank branches
24 Oct 2011
Lloyds Banking Group is considering flotation after failing to attracts a strong enough price for branch portfolio.
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Lloyds to launch £2.1bn securitisation
26 Oct 2011
Fitch assigns AAA rating to transaction.
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Lloyds’ surveying head Paul Chapman joins Countrywide
25 Oct 2011
Paul Chapman, head of surveying and valuation at Colleys, is joining Countrywide in the newly created board position of head of field operations within its surveying division.
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Low gilts good news for equity release customers, says More 2 Life
26 Oct 2011
Low gilt yields could mean lifetime mortgage customers are able to remortgage without paying early redemption charges, according to More 2 Life.
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Mayfair Bridging gains FSA authorisation
4 Oct 2011
Bridging lender Mayfair Bridging has gained its Financial Services Authority authorisation and will now offer bridging loans on owner-occupied property.
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Million pound house sales hit four-year high
24 Oct 2011
The number of sales for million pound properties reached a four-year high in the first half of 2011, according to research by Lloyds TSB.
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Moody’s downgrades 12 UK lenders
7 Oct 2011
Moody’s has downgraded the senior debt and deposit ratings of 12 UK banks and building societies.
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More 2 Life increases market share to 9.3%
31 Oct 2011
More 2 Life is claiming a 9.3% share of the equity release market for Q3 2011, up from 7.2% in Q2.
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Mortgage Brain launches broker website solution
2 Nov 2011
Mortgage Brain has launched a website design solution for mortgage brokers and IFAs.
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Mortgage complaints up 37%
18 Oct 2011
There were 2,796 complaints to the Financial Ombudsman Service between July and September, up from 2,044 in the previous quarter.
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Mortgage rates 2.41% lower than three years ago
20 Oct 2011
The average interest rate of purchase and remortgages applied for by Countrywide’s customers has fallen by 2.41% over the last three years to 3.71% in September 2011 – its lowest rate since September 2008.
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Mortgage Strategy e-petition to lobby for claims firms to pay out
19 Sep 2011
Mortgage Strategy is calling for claims firms to be made to pay for unsubstantiated claims against brokers by launching a government e-petition.
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Mortgage valuations up 63% year-on-year in September
6 Oct 2011
Residential mortgage valuation activity picked up in September, with the number of valuations increasing by 37% on the previous month.
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Mortgages over €2m to be excluded from EU directive
5 Oct 2011
A committee scrutinising the European Commission’s mortgage credit directive has proposed an exemption for mortgages over €2m.
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MortgageStream launches POS and back office system
17 Oct 2011
MortgageStream has launched a point-of-sale and back office system for life and general insurance brokers.
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MPC members were unanimous on QE
19 Oct 2011
The minutes from October’s Monetary Policy Committee meeting show all members voted for an additional £75bn of quantitative easing.
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Mutuals leading the way on self-build, says BSA
10 Oct 2011
Mutual lenders are leading the way on mortgage finance for self-build homes, according to the Building Societies Association.
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Mutuals' lending in July edged up 6% on 2010
5 Sep 2011
Gross mortgage lending by mutuals rose 6% in July compared with the same month last year, according to the Building Societies Association. Mutuals lent £2.1bn in July, up from £2bn in July 2010.
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Mutuals’ mortgage approvals up 33% in September
31 Oct 2011
Mutuals approved £2.5bn worth of mortgages in September, up 33% on the £1.9bn approved in September 2010, according to figures published by the Building Societies Association.
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Nationwide buys Bank of Ireland mortgage portfolio
17 Oct 2011
Nationwide Building Society has acquired part of Bank of Ireland’s UK residential mortgage portfolio.
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Nationwide cuts fixed rates, increases trackers
25 Oct 2011
Nationwide is cutting rates on a number of its fixed rate mortgages, as well as increasing rates on several tracker products.
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Nationwide launches securitisation
5 Oct 2011
Nationwide Building Society has launched a securitisation deal backed by a pool of prime residential mortgages.
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Nationwide revamps new-build criteria
31 Oct 2011
Nationwide is changing its policy for new-build valuations and lending.
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No interest rate change for months, says MPC member
10 Oct 2011
Monetary Policy Committee member David Miles says it is unlikely the Bank of England base rate will change in the next few months.
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North outperforms south in house sales this year
14 Oct 2011
The North outperformed the south in terms of property sales during the first six months of 2011, according to research by Halifax.
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Northern Rock cuts fixed rates up to 85% LTV
4 Oct 2011
Northern Rock has reduced rates on selected fixed rate mortgage products up to 85% LTV.
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Northern Rock relaxes self-employed criteria
1 Nov 2011
Northern Rock will now accept self-employed mortgage customers who have been trading for two years.
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North-South house price divide widens
17 Oct 2011
The gulf in house prices between the North and the South has widened to the greatest level Rightmove has ever recorded, with average asking prices in the South now more than double those in the North.
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Norton teams up with TenetLime
25 Oct 2011
Norton Broker Services has been chosen as TenetLime’s preferred affinity partner for secured loans.
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Number of B2L deals rises by 104% in three years
25 Oct 2011
The number of buy-to-let mortgage products available on the market has increased by 104% over the past three years, according to analysis by Defaqto.
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Number of B2L products up 26% in Q3
12 Oct 2011
The number of buy-to-let mortgage products on the market totalled 508 in Q3, up 26% compared to the 403 deals available in Q2, according to the latest buy-to-let index from Mortgages for Business.
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Official Expo party set for November 16
25 Oct 2011
Mortgage Business Expo has teamed up with Mortgage Strategy and a number of other media providers to launch the only official Expo Party on Wednesday November 16.
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OFT takes action against three debt management firms
10 Oct 2011
The Office of Fair Trading has taken enforcement action against three debt management companies.
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Omni Capital and Brightstar complete £5m bridging loan
24 Oct 2011
Omni Capital and Brightstar Financial have completed one of the largest ever second charge bridging loans, valued at £5m.
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Omni Capital secures additional funding
19 Oct 2011
Omni Capital has secured additional funding in a multi-million pound deal that will enhance its lending capabilities.
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Online searches for mortgages down 14%
10 Oct 2011
The number of online searches for mortgages fell 14% in July, compared to January 2011, according to search and social marketing agency Greenlight.
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Openwork appoints chief financial officer
13 Oct 2011
Openwork has appointed Simon Clifford as chief financial officer, subject to approval from the Financial Services Authority.
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Paragon acquires unsecured loan portfolio from RBS
27 Oct 2011
The Paragon Group of Companies has acquired a portfolio of unsecured consumer loans from The Royal Bank of Scotland.
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Paragon: Brokers should focus on professional B2L investors
31 Oct 2011
Intermediaries looking to expand their buy-to-let business should focus on professional landlords, according to Paragon Mortgages.
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Paymentcare launches Landlords' building and contents policy
18 Oct 2011
Paymentcare has launched a new landlords only policy, offering brokers 30% commission.
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Paymentshield slammed for trail commission cut
17 Oct 2011
Brokers are up in arms after having their trail commission slashed from 27% to 5% by Paymentshield.
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Pink back in the black after £1.8m 2010 loss
12 Oct 2011
Advance Mortgage Funding, which trades as Pink Home Loans, claims it is now operating profitably after making a £1.8m pre-tax loss in 2010.
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PMS and Sesame launch five-year fix exclusive via Furness Building Society
13 Dec 2011
PMS and Sesame are offering a five-year fixed rate exclusive from the Furness Building Society.
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Precise launches soft footprint
2 Nov 2011
Precise Mortgages has amended its online mortgage platform so that decisions now leave a soft footprint rather than a hard footprint.
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Precise Mortgages launches preferred packager panel
11 Oct 2011
Precise Mortgages has launched a short-term lending preferred packager panel called Premier Panel.
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Precise ups near-prime LTV to 85%
26 Oct 2011
Precise Mortgages has extended the maximum LTV on its near-prime range to 85%.
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Pre-eviction visits jump 20% in Q3
1 Nov 2011
The number of pre-eviction visits completed by members of the Association of Arrears Mediators jumped by 20.1% in Q3 to reach 5,086, according to figures published by the trade body.
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Promise offers case of wine for every completion
10 Oct 2011
Promise Solutions is offering a case of wine with every secured loan completion plus two cases of wine and £100 for two completions in one month.
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Property sales up 6% in October
31 Oct 2011
The number of agreed property sales increased by 6.3% in October, according to Hometrack’s monthly housing survey.
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Property sales up 7.5% in October
1 Nov 2011
The number of properties achieving ‘sold’ status increased by 7.5% in October compared to the previous month, reveals the latest Agency Express Property Activity Index.
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Remortgaging up more than 30% year-on-year
11 Oct 2011
There were 34,100 remortgage loans taken out in August, worth £4.2bn, both the volume and value were more than 30% higher than August 2010.
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Rental sector struggling to cope with demand, says ARLA
17 Oct 2011
The private rental sector is close to reaching capacity and is struggling to cope with demand, according to the Association of Residential Letting Agents.
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Rents rise in all regions for first time
21 Oct 2011
Rents increased in all regions of England and Wales for the first time on record in September, the latest buy-to-let index from LSL Property Services reveals.
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Rents unaffordable in over half of England, says Shelter
13 Oct 2011
Average private rents are unaffordable for ordinary working families in over half of local authorities in England, according to research from Shelter.
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Rockstead appoints Steve Haggerty as non executive director
6 Oct 2011
Mortgage audit and due diligence firm Rockstead has appointed Steve Haggerty, the former commercial director of Northern Rock Asset Management, as its non executive director.
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S&P upgrades Acenden’s primary servicer
26 Oct 2011
Standard & Poor’s has upgraded Acenden’s primary servicer rating to ‘strong’, making it the highest ranked residential mortgage servicer of its kind in the UK.
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Saffron slashes fee on B2L deal by 1%
20 Oct 2011
Saffron Building Society has slashed the fee on its buy-to-let two-year fixed rate exclusive with Brightstar Financial from 3% to 2%.
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Saffron’s chief executive leaves for One Savings Bank
10 Oct 2011
Saffron Building Society’s chief executive, Andy Golding, is to leave the society to become chief executive of One Savings Bank.
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Saga doubles equity release market share
26 Oct 2011
Saga claims it has doubled its share of the equity release market after increasing its business by 126%.
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Santander downgraded by S&P and Fitch
12 Oct 2011
Two credit rating agencies have downgraded Santander among a raft of downgrades for Spanish banks.
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Santander UK’s gross mortgage lending up 29% in Q3
27 Oct 2011
Santander UK has seen a 29% increase in gross mortgage lending in Q3 of 2011.
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Scotland house prices remain stagnant
19 Oct 2011
Average house prices in Scotland increased by 0.4% to reach £148,075 in August, according to the LSL Property Services/Acadametrics house price index.
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Scottish government pledges extra £4.7m to FTB scheme
13 Oct 2011
The Scottish government has allocated an extra £4.65m of funding to its scheme to help those on low to moderate incomes get on the housing ladder.
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SFO launches whistleblower service to expose fraud
1 Nov 2011
The Serious Fraud Service is launching a new whistleblowing service for the confidential reporting of suspected fraud or corruption.
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Shapps calls for 30-year fixed rate mortgages
20 Oct 2011
Housing minister Grant Shapps is expected to urge lenders to offer 30-year fixed rate mortgages in his speech at the Building Societies Association conference today.
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Simon Chalk joins Bower Retirement Services
17 Oct 2011
Simon Chalk, later life planner at LaterLiving, has joined Bower Retirement Services.
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SimplyBiz's mortgage director Emma Hollingworth joins Countrywide
28 Oct 2011
Countrywide has appointed Emma Hollingworth, director of mortgages at SimplyBiz Mortgages, as an account director within its corporate business division.
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Skipton launches online DIP for consumers
27 Oct 2011
Skipton Building Society is launching a decision in principle facility via its consumer-facing website, which will offer borrowers an initial mortgage decision in around 10 minutes.
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Slow growth will hit financial services employment, says Ernst & Young
31 Oct 2011
Lacklustre economic growth in the UK will hit employment prospects in the financial services sector, according to Ernst & Young’s ITEM Club.
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Snap out of it Mr Shapps
25 Oct 2011
When I read that housing minister Grant Shapps, who I actually like, had made a speech last week within which he called for 30-year fixed rate mortgages, I must admit my shoulders sagged a touch.
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Stamp Duty should be abolished for FTBs, says think tank
17 Oct 2011
Abolishing Stamp Duty for first-time buyers would help aid UK growth by stimulating the housing and construction industries, says a report out today from the Ernst & Young ITEM Club.
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Stonebridge launches life and protection panel
4 Oct 2011
Stonebridge Group has introduced a life and protection panel to run alongside its existing whole of market offering.
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TBMC offers 85% LTV B2L deal from Kent Reliance
27 Oct 2011
TBMC is now offering an 85% LTV buy-to-let deal from Kent Reliance.
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Teachers BS offers borrowers SVR guarantee
31 Oct 2011
Teachers Building Society is launching a flexible discounted mortgage range which gives borrowers the freedom to switch if it increases its SVR by more than an agreed amount.
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Teachers Building Society offers 3.99% B2L deal
24 Oct 2011
Teachers Building Society has launched a two-year 3.99% discounted variable rate buy-to-let mortgage.
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Tesco confirms its mortgage launch is delayed
5 Oct 2011
Tesco has confirmed that its launch into the mortgage market has been delayed until early 2012.
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There's money to be made from a volatile property market
17 Oct 2011
A week or so back I gave a speech at the Association of Bridging Professionals’ annual conference.
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Tiuta offers bridging loans up to £30m
11 Oct 2011
Tiuta can now offer short-term finance to clients looking for a stand-alone bridging loan in the region of £2m to £30m.
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TMA increases proc fees
31 Oct 2011
The Mortgage Alliance has increased the proc fees it pays to brokers.
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TMW launches affordability app for brokers
10 Oct 2011
The Mortgage Works is launching a buy-to-let affordability calculator app for intermediaries.
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Top bosses leave HML
27 Oct 2011
HML have announced that chief executive, Brian Brodie and chief commercial and finance officer, Neil Warman have decided to leave the company.
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Treasury Committee warns FSA on liquidity squeeze
24 Oct 2011
The chairman of the Treasury Select Committee has written to the Bank of England and the Financial Services Authority to raise concerns about the negative impact the squeeze on banks’ liquidity is having on their ability to lend.
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Uinsure teams up with Bluedrop Services
21 Oct 2011
Uinsure has appointed Bluedrop Services to its panel, with the firm becoming Uinsure’s specialist referral partner for commercial and non-standard insurance products.
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UK finance chiefs expecting double-dip recession this year
3 Jan 2012
The majority of finance chiefs of the UK’s biggest businesses are working on the assumption that Britain will fall back into recession this year, according to a poll of chief financial officers by Deloitte.
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UK GDP grows by 0.5% in Q3
1 Nov 2011
The UK’s GDP grew by 0.5% in Q3 of 2011, according to the Office for National Statistics.
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West Midlands offers highest rental yields
25 Oct 2011
Rental properties in the West Midlands generate the highest yields in the UK, according to research commissioned by Paragon.
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Where there's a will there's a way
24 Oct 2011
It feels like every week a piece of research is published highlighting some frightening stats on wills – or the lack of them.
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Whiteaway Laidlaw Bank rebrands to Shawbrook Bank
17 Oct 2011
Whiteaway Laidlaw Bank has rebranded to become Shawbrook Bank.
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Woolwich offers 90% LTV
26 Oct 2011
Barclays has extended the maximum LTV on its Woolwich mortgage range to 90%.
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Y3S launches secured loans portal
19 Oct 2011
Y3S is launching an online portal for brokers that allows clients to source and apply for secured loans.
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Yorkshire teams up with Target
20 Oct 2011
The Target Group has signed a mortgage originations and servicing contract with Yorkshire Building Society.
