Mortgage Strategy
Tessa Norman Editorial

Flat house prices limit B2L yields despite rent rises

26 March 2012

Static house prices are preventing landlords from capitalising on rising rents and translating them into higher yields, say buy-to-let experts.

Another interest-only blow for the market

26 March 2012

Nationwide’s decision to slash its interest-only LTV from 75% to 50% has been branded a blow for the mortgage market.

Abbey raises B2L rates by up to 0.20%

23 Mar 2012

Abbey for Intermediaries has today increased rates across a selected range of residential and buy-to-let products.

NatWest suspends interest-only through brokers

22 Mar 2012

NatWest Intermediary Solutions is to temporarily stop lending on an interest-only basis.

Budget 2012: Stamp Duty receipts to almost double by 2017

21 Mar 2012

Stamp Duty receipts will almost double to reach £11bn per year by 2017, according to the Office for Budget Responsibility.

Budget 2012: Government consulting on extra charge for properties bought via companies

21 Mar 2012

The government is consulting on the introduction of an annual charge on residential properties worth more than £2m which are bought via companies.

Coventry reduces interest-only LTV to 50%

21 Mar 2012

Coventry Building Society has cut its maximum LTV for interest-only lending from 75% to 50%.

Gross mortgage lending up 14% year-on-year in February

20 Mar 2012

Gross mortgage lending in February was almost identical to the previous month but increased significantly year-on-year, according to data from the Council of Mortgage Lenders.

Aldermore joins Countrywide’s lender panel

19 Mar 2012

Aldermore is today joining Countrywide’s mortgage lender panel, giving the firm’s consultants access to its full range of residential and buy-to-let products.

Lenders jump the gun on proposals in MMR

19 March 2012

Lenders have been accused of implementing Mortgage Market Review proposals too soon after the regulator branded one of its initial proposals inappropriate.

NatWest's NewBuy cold shoulder upsets brokers

19 March 2012

Brokers have slammed NatWest for being the only lender not to offer its NewBuy Guarantee scheme products via intermediaries.

Connaught joins the ASTL

16 Mar 2012

Connaught Asset Management has joined the Association of Short Term lenders as an associate member.

Goldsmith Williams launches remortgage package via PTFS

16 Mar 2012

Goldsmith Williams is launching a legal services remortgage package for intermediaries.

Barclays closes case booking system

16 Mar 2012

Barclays is closing its online case booking system for intermediaries due to a technical issue.

Co-op Bank reminds interest-only clients to check repayment vehicles

16 Mar 2012

The Co-operative Bank is launching a communications campaign to urge its interest-only customers to ensure they have an adequate repayment vehicle in place.

TMW launches new deals and cuts fixed rates

15 Mar 2012

The Mortgage Works has launched a number of new buy-to-let products and reduced rates on existing deals by up to 0.60%.

Mortgage lending up 13% at the Cambridge

14 Mar 2012

The Cambridge Building Society has reported gross mortgage lending of £144.5m for 2011, representing a 13% increase on the previous year.

Over-zealous expenditure checks too much, says FSA

14 Mar 2012

Expenditure checks that include non-essential purchases such as clothing are not appropriate when assessing mortgage affordability, says the Financial Services Authority.

SimplyBiz offers members free access to Mortgage Brain

13 Mar 2012

SimplyBiz Mortgages is offering its member firms free access to the Mortgage Brain sourcing system when they submit a minimum number of cases per quarter through the club.

FSA warns of return to aggressive dual pricing

13 Mar 2012

Funding pressures in the mortgage market could trigger the return of aggressive dual pricing strategies, the Financial Services Authority is warning.

Brokers unaware of new PPI rules

12 Mar 2012

A worrying number of mortgage brokers are not aware of the implications of new rules on the way payment protection insurance is sold coming into force next month, according to LV=.

Three lenders launch MIG scheme mortgages

12 Mar 2012

NatWest, Nationwide and Barclays have today launched products for the government’s NewBuy Guarantee scheme.

Ripple effect sees small lenders pull mortgages

12 March 2012

Product withdrawals from big lenders are having a ripple effect, with now even the smallest building societies having to withdraw deals.

Keep jargon out of PPI mis-selling letters to clients, FSA tells industry

12 March 2012

The Financial Services Authority is consulting with firms on how they should deal with potential payment protection insurance mis-selling victims who are yet to complain.

Cheval revamps online KFIs for packagers

9 Mar 2012

Cheval has launched a new version of its online KFI system that aims to make it easier for packagers to submit regulated deals.

Woolwich reduces funding tranches for broker deals

9 Mar 2012

Woolwich has reduced the funding tranches for its intermediary mortgage products after receiving exceptionally high demand.

Skipton increases rates on B2L deals

8 Mar 2012

Skipton Building Society has today launched a refreshed range of buy-to-let products, the majority of which carry higher rates.

NatWest relaunches 18-month tracker deal

7 Mar 2012

NatWest Intermediary Solutions has today reintroduced an 18-month tracker mortgage for selected intermediaries.

FTB activity reaches three-year high in February

7 Mar 2012

First-time buyer activity rose to its highest level in three years in February, according to Connells Survey and Valuation.

34% of borrowers would pay more for a fixed rate

6 Mar 2012

Some 34% of UK mortgage holders would be willing to pay a higher monthly amount for the security of a fixed rate, shows research from Legal & General Mortgages.

FSA publishes guidance on PPI redress

6 Mar 2012

The Financial Services Authority has published proposed guidance for firms that sold payment protection insurance and are contacting customers who have yet to complain.

Nationwide offers first-time buyers £1,000 cash back

5 Mar 2012

Nationwide Building Society is offering first-time buyers £1,000 cash back to put towards paying the Stamp Duty on their property.

Kent Reliance to accept a year’s self-employed accounts

5 Mar 2012

Kent Reliance has ignited hopes of a return to competition in the self-employed sector after launching a mortgage for self-employed applicants with just one year’s accounts

850,000 to be stung by Halifax hike

05 March 2012

Close to a million Halifax borrowers are facing a hike in their mortgage payments after it announced it is increasing its SVR.The lender’s SVR will rise from 3.50% to 3.99% on May 1, affecting some 850,000 customers.

Kent Reliance to accept a year's self-employed accounts

05 March 2012

Kent Reliance Building Society has ignited hopes of a return to competition in the self-employed sector after launching a mortgage for self-employed applicants with just one year’s accounts.

60 seconds with Vic Jannels, Group Executive Chairman, all types of mortgages

05 March 2012

Halifax increases SVR to 3.99%

4 Mar 2012

Close to a million Halifax borrowers are facing a hike in their mortgage payments after the lender announced it is increasing its standard variable rate.

Skipton offering just six residential products via brokers

2 Mar 2012

Skipton Building Society is offering just six residential products via brokers after relaunching a slimmed-down version of its mortgage range.

Y3S launches bridging sourcing system

1 Mar 2012

Y3S has launched a bridging sourcing system for users of its finance portal.

Coventry’s mortgage lending up 14% in 2011

1 Mar 2012

Coventry Building Society increased its gross mortgage lending by 14% to £4bn in 2011.

Bridging lending doubles to £911m in 2011

29 Feb 2012

Gross bridging lending more than doubled in 2011 to reach a total of £911m for the year, according to the latest quarterly bridging index from West One Loans.

Halifax increases SVR cap

28 Feb 2012

Halifax has increased the cap on its standard variable rate from 3% above base rate to 3.75% above base for thousands of existing borrowers.

PTFS rebrands logo

27 Feb 2012

Personal Touch Financial Services has undergone a rebranding exercise and launched a new logo (pictured).

Nottingham BS' gross mortgage lending up 23% in 2011

27 Feb 2012

Nottingham Building Society has reported gross mortgage lending of £436m for 2011, an increase of 23% on the previous year.

Avelo launches PMI comparison service

27 Feb 2012

Avelo has extended its Exchange portal with the launch of a private medical insurance comparison service in partnership with ActiveQuote.

HSBC reports 12% rise in gross mortgage lending in 2011

27 Feb 2012

HSBC has reported gross mortgage lending of £13.2bn for 2011, up 12.2% on the £11.8bn it lent in 2010.

Treasury committee to grill regulator on MMR

27 February 2012

Mehrdad Yousefi, Details need to be scrutinised

Abbey for Intermediaries ends proc fee for ported deals over 50% LTV

27 February 2012

David Sheppard, Problem with trading up

Precise quits ASTL due to excess of bridging trade bodies

27 February 2012

Precise Mortgages has left the Association of Short Term Lenders, claiming there are too many trade bodies representing the bridging sector.

Clydesdale tightens interest-only criteria

24 Feb 2012

Clydesdale Bank has reduced its maximum LTV for interest-only mortgages from 75% to 50% for certain repayment strategies.

Average LTV in Scotland at three-year high

24 Feb 2012

The average LTV on a mortgage taken out in Scotland climbed to 72% in the final quarter of 2011, its highest level since Q4 2008, according to data from the Council of Mortgage Lenders in Scotland.

Abbey to include birthdays and Christmas in affordability checks

23 Feb 2012

Abbey for Intermediaries will now require customers to account for one-off costs such as Christmas in their expenditure assessments.

Yorkshire’s gross mortgage lending up 46% in 2011

23 Feb 2012

Yorkshire Building Society has reported a 46% increase in gross mortgage lending for 2011.

FTB sales at eight-month high, says NAEA

22 Feb 2012

First-time buyers accounted for the highest proportion of property sales in eight months in January, according to data from the National Association of Estate Agents.

BM Solutions cuts rates again

21 Feb 2012

BM Solutions is cutting rates on its buy-to-let products for the second time this month.

Yorkshire BS to open 12 new branches

20 Feb 2012

Yorkshire Building Society is planning to open 12 new high street branches over the next two years.

Gross mortgage lending up 10% year-on-year in January

20 Feb 2012

Gross mortgage lending totalled £10.5bn in January, 10% higher than the £9.5bn lent in January 2011, according to the Council of Mortgage Lenders.

Partnership boosts L&G club share

20 February 2012

Legal & General Mortgage Club says the creation of its Nouveau partnership last year helped it to boost its share of the intermediary market from 14% to 20%.

Rise in FTBs fuels call to extend tax holiday

20 February 2012

Data revealing an uplift in first-time buyer activity in recent months has reignited calls for the government to extend the Stamp Duty holiday beyond March.

Housing completions up 6% in 2011

17 Feb 2012

The number of housing completions in England rose by 6% between 2011 and 2010, according to data published by the Department for Communities and Local Government.

ifs launches entry-level financial advice qualification

17 Feb 2012

The Institute of Financial Services has launched a Level 3 financial advice qualification for new entrants to the sector.

Rents rise in January for first time

17 Feb 2012

Average rents rose in January for the first time on record, according to the latest buy-to-let index from LSL Property Services.

Accord delays relaunch of 75% and 85% LTV range

16 Feb 2012

Accord Mortgages has delayed the relaunch of its 75% and 85% LTV product range until Monday.

Move With Us appoints two directors

16 Feb 2012

Move With Us has announced the appointment of two new directors.

Precise offers brokers Olympic tickets incentive

14 Feb 2012

Precise Mortgages is offering brokers the chance to win tickets to the 2012 Olympics.

AToM launches bridging referral service

14 Feb 2012

All Types of Mortgages is launching a referral service for intermediaries who require assistance with bridging or short-term loans.

Masthaven to enter secured loans market

14 Feb 2012

Masthaven is set to launch a secured loans arm in the coming months.

Accord withdrawing all 75% and 85% LTV products

13 Feb 2012

Accord Mortgages is withdrawing all of its 75% and 85% LTV mortgages until Thursday.

Be vigilant against rogue introducers, brokers told

13 Feb 2012

Brokers who accept business from introducers may be exposing themselves to the risk of fraud, experts warn.

Outcry over shelving of individual registration

13 February 2012

The Financial Services Authority’s decision to indefinitely delay plans to introduce individual registration for brokers has been met with dismay.

Santander LTV cut is a blow for interest-only

13 February 2012

Santander’s decision to cap its interest-only lending at 50% LTV has shocked the sector.

MPC decides to increase QE programme by £50bn

13 February 2012

The Bank of England’s Monetary Policy Committee voted for more quantitative easing at its February meeting.

Paymentcare offers enhanced commission for transferred policies

10 Feb 2012

Paymentcare Limited is offering enhanced commission rates on all policies which are transferred from other providers.

Abbey increases rates and slashes maximum loan for offset

9 Feb 2012

Abbey for Intermediaries is increasing rates on a number of its fixed and tracker mortgage products from tomorrow by between 0.10% and 0.50%.

Stamp Duty rush boosts January valuations

9 Feb 2012

Demand from first-time buyers looking to beat the end of the Stamp Duty holiday boosted residential valuations in January, according to Connells Survey and Valuation’s latest housing market activity report.

Repossessions up 5% year-on-year in Q4 2011

9 Feb 2012

The number of properties taken into possession in Q4 2011 totalled 8,500, 5% higher than the 8,100 homes repossessed in the same period in 2010, according to data from the Council of Mortgage Lenders.

L&G offers range of 5-year fixes from Cambridge BS

8 Feb 2012

Legal & General Network is offering an exclusive range of five-year fixed rate mortgages from Cambridge Building Society.

Abbey cuts max number of applicants from four to two

8 Feb 2012

Abbey for Intermediaries has reduced the maximum number of applicants it will accept on a mortgage from four to two.

Montello expands funding and completes first medium-term loan

8 Feb 2012

Montello Bridging Finance has expanded its funding lines, enabling it to enter the medium-term loan market.

Government must identify funding gap in social care, says SHIP

8 Feb 2012

It is crucial that the government identifies the scale of the funding gap in social care in order for the financial services industry to develop solutions, according to Safe Home Income Plans.

Just Retirement sales up 30% year-on-year in Q4

7 Feb 2012

Just Retirement Limited saw a 29.7% year-on-year increase in sales in Q4 2011, the firm has reported.

January house prices down 1.8% year-on-year, says Halifax

6 Feb 2012

House prices increased by 0.6% between December and January, but are still 1.8% lower year-on-year, according to the latest house price index from Halifax.

Paymentshield to be sued for slashing commission

6 Feb 2012

A broker is taking legal action against Paymentshield, alleging that its decision to cut his trail commission from 27% to 5% is a breach of contract.

Making waves

6 February 2012

Charles Haresnape took Aldermore boldly where no other lender was going and launched a 100% LTV product. As managing director of residential mortgages, he has set his sights firmly on further innovation this year

Santander net lending dives by 80%

6 February 2012

Santander’s net mortgage lending fell by a whopping 80% - from £5.5bn in 2010 to just £1.1bn - in 2011, its results revealed last week.

Specialist lending rose 44% in 2011

6 February 2012

Specialist lending increased 44% last year compared with 2010, figures from the Building Societies Association show.

Loughborough’s gross mortgage lending up 7% in 2011

2 Feb 2012

The Loughborough Building Society has reported a 7% year-on-year rise in gross mortgage lending for 2011.

Principality’s mortgage lending climbs 7% to £1bn in 2011

2 Feb 2012

Principality Building Society has reported gross mortgage lending of £1bn for 2011, a 6.5% increase on the previous year.

Nationwide increases rates by up to 0.20%

2 Feb 2012

Nationwide has increased rates on a number of its fixed and tracker mortgage products by between 0.10% and 0.20%.

Property discounts hit all-time high

Online - February 2012

Property sellers are discounting their homes by an unprecedented amount as they accept the realities of the market, according to research by Zoopla.

Santander's 2011 mortgage lending down 2% despite boost in H2

31 Jan 2012

Santander’s gross mortgage lending for 2011 totalled £23.7bn, 2% lower than the £24.2bn it lent in 2010, the bank’s results have revealed.

Government won't turn its back on failing banks

30 January 2012

The government cannot walk away from failing banks in the future without risking wider contagion to other lenders, according to Standard & Poor’s.

EU directive plan to halve arrears period may see repossessions jump

30 January 2012

A clause in the European mortgage directive that would halve the time borrowers are allowed to be in arrears before being classed as in default has triggered fears of a surge in repossessions and mortgage costs.

Sesame Bankhall Group’s mortgage business up 8% in 2011

27 Jan 2012

Sesame Bankhall Group delivered £26.1bn of mortgage business to lenders in 2011, an increase of 8% on the £24.2bn delivered in 2010.

Clydesdale launches into 80% LTV B2L lending

26 Jan 2012

Clydesdale Bank has become the latest lender to launch into 80% LTV buy-to-let lending.

Paragon lent £38.6m in Q4 2011

26 Jan 2012

The Paragon Group of Companies, Paragon Mortgages’ parent company, lent £38.6m in buy-to-let loans during the final quarter of 2011, an interim management statement has revealed.

Banks’ gross mortgage lending up 12% year-on-year in December

25 Jan 2012

Gross mortgage lending by high street banks totalled £9bn in December 2011, 12% higher than the same period in 2010.

MPC vote unanimous again in January

25 Jan 2012

The Monetary Policy Committee voted unanimously to keep the base rate on hold and maintain the quantitative easing programme at £275bn earlier this month, minutes of the meeting have revealed.

West One Loans makes three appointments

24 Jan 2012

West One Loans has appointed three new members of staff at its Hertfordshire headquarters.

Fitch maintains Vertex’s negative watch rating

23 Jan 2012

Fitch Ratings has maintained Vertex Mortgage Services’ ‘rating watch negative’ status due to its declining portfolio.

Lower income families face 22-year wait for house deposit

23 Jan 2012

Lower to middle income households currently face a 22-year wait to save up for a deposit on their first home, according to a report out today.

MMR will not help a third of sub-prime borrowers

23 Jan 2012

Under Mortgage Market Review rules at least a third of sub-prime borrowers would still be mortgage prisoners, despite a clause designed to help those trapped in their properties or loans.

Barclays to give brokers an underwriter per case

23 January 2012

Barclays has announced that it will assign a specific underwriter to each mortgage application that brokers submit.

Law Society to lobby government and FSA on HSBC solicitor panel

23 January 2012

The Law Society is planning to raise its concerns about HSBC’s conveyancer panel with the Financial Services Authority and business secretary Vince Cable.

Ipswich launches 95% LTV deal at 5.75%

20 Jan 2012

Ipswich Building Society is launching a 95% LTV mortgage with a rate of 5.75%.

Brokers expect to do more bridging business this year

20 Jan 2012

Mortgage brokers are expecting to write more bridging business this year than last, according to research by West One Loans.

Compass launches ID theft product

19 Jan 2012

Compass Underwriting is launching a new ID theft product in association with LawShield and Experian.

HSBC pledges £15bn in mortgage lending for 2012

19 Jan 2012

HSBC has pledged to lend at least £15bn in mortgages this year, with £3bn set aside specifically for first-time buyers.

FSA orders house building council to change contract terms

18 Jan 2012

The Financial Services Authority has ordered the National House-Building Council to amend the contract terms of one of its insurance policies and is warning other insurance firms that customers must be given appropriate policy information.

Scottish house prices down 0.8% year-on-year in November

18 Jan 2012

Scottish house prices fell by 0.2% in November to reach an average of £147,202, representing a year-on-year decline of 0.8%.

S&P upgrades Crown’s servicer rating

17 Jan 2012

Standard & Poor’s has upgraded Crown Mortgage Management’s rating as a primary servicer of commercial loans and residential mortgages to above average.

Solicitors slam HSBC conveyancer panel

16 Jan 2012

Solicitors are up in arms over HSBC’s decision to only use conveyancers from a restricted panel, according to a network that represents UK high street law firms.

House purchase lending up year-on-year in November

16 Jan 2012

House purchase lending saw a year-on-year rise in November for only the second time in 2011, shows data from the Council of Mortgage Lenders.

Exodus of brokers from market is starting to slow

16 Jan 2012

The rapid pace at which mortgage brokers have been leaving the market finally began to slow in the final months of 2011, figures from the Financial Services Authority reveal.

BDM cuts spark fears over NatWest lending

16 January 2012

Ray Boulger, Lending drop is possible

Accord enters 90% LTV arena with fixed deals

16 January 2012

Accord Mortgages’ launch into 90% LTV lending has been welcomed by brokers.

Consumer credit websites to be investigated by OFT

16 January 2012

The Office of Fair Trading is to scrutinise 38 consumer credit websites after an investigation by the European Commission found malpractice to be widespread.

Newcastle re-enters 95% LTV market with fixes for FTBs

16 January 2012

Stephen Marks, Chance for first-timers

Hinckley & Rugby offers 5-year fix at 3.95%

13 Jan 2012

Hinckley & Rugby Building Society has launched a five-year fixed rate mortgage at 3.95%.

High LTV mortgage advances up 32% in 2011

13 Jan 2012

The number of mortgages advanced at an LTV of 85% or more increased by 32% between 2010 and 2011, according to the latest mortgage monitor from e.surv.

Paragon’s Andrew Lees retires

12 Jan 2012

Andrew Lees, head of sales at Paragon Mortgages, is to retire next month after 23 years at the firm.

AIFA appoints policy director

11 Jan 2012

The Association of Independent Financial Advisers has appointed Chris Hannant as a policy director.

Housing market confidence falls in Q4

11 Jan 2012

Homeowners’ confidence in the housing market fell to its lowest level in a year in Q4 2011, according to Zoopla’s latest housing market sentiment survey.

Precise launches regulated bridging range

10 Jan 2012

Precise Mortgages has launched a range of regulated bridging products.

Accord launches into 90% LTV lending

10 Jan 2012

Accord Mortgages is launching into 90% LTV lending with a range of two and five-year fixed rate products.

Cost of fraud climbs to all-time high in 2011

9 Jan 2012

The value of reported fraud increased by 50% in 2011 to reach £2bn, according to accountancy firm BDO’s latest FraudTrack report.

FSA appoints board chairman for FSCS

9 Jan 2012

The Financial Services Authority has appointed Lawrence Churchill as the new chairman of the board of the Financial Services Compensation Scheme.

Mortgage payments fell to 10-year low in 2011

9 Jan 2012

Borrowers’ monthly mortgage payments fell to a 10-year low in 2011 as lenders competed to offer some of their cheapest deals, according to research from Barclays.

Valuation activity held up in December

9 Jan 2012

The number of mortgage valuations held up well in December, recording a less pronounced than usual fall for this time of year.

Lenders urged to re-examine niche criteria as MMR clarifies guidance

9 January 2012

Brokers are calling on lenders to review their criteria for niche areas such as interest-only, following publication of the Mortgage Market Review final consultation paper last month.

November's 2.5% drop in mortgage approvals fuels future lending fears

9 January 2012

A fall in the number of mortgage approvals in November has triggered concerns over lending levels for the coming months.

Report lacks focus on elderly care, says MP

9 January 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.

HSBC launches conveyancing panel with Countrywide

6 Jan 2012

HSBC is introducing a panel of conveyancers for its mortgage customers, which will be managed by Countrywide.

Paragon launches new product range and changes criteria

5 Jan 2012

Paragon Mortgages has lowered its rental income requirement and launched a new range of products.

Newcastle BS teams up with e.surv

5 Jan 2012

Newcastle Building Society has appointed e.surv as its new panel manager for mortgage valuations.

1 million a year rely on payday loans to pay mortgage

4 Jan 2012

Almost one million people have taken out a payday loan to help pay their rent or mortgage in the last 12 months, according to research by Shelter.

Mutuals’ gross lending up 24% year-on-year in November

4 Jan 2012

Gross mortgage lending by mutuals totalled £2.5bn in November, up 24% compared to November 2010, reveals data from the Building Societies Association.

Coventry launches B2L deals with no ERCs

3 Jan 2012

Coventry Intermediaries is launching a new range of mortgage products tomorrow, including some five-year buy-to-let deals with no early repayment charges.

Land Registry: November house prices down 1.9% year-on-year

3 Jan 2012

Average house prices in England and Wales fell by 1.9% year-on-year to reach £160,780, according to the latest Land Registry data.

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.

Planning policy encourages unsustainable development, say MPs

21 Dec 2011

The government must make significant changes to draft planning policy to prevent it encouraging unsustainable development, MPs are arguing.

Castle Trust teams up with xit2

20 Dec 2011

Castle Trust has partnered with xit2 to manage its valuations when it launches into the mortgage market.

Leeds BS offers shared ownership deal via PMS and Sesame

20 Dec 2011

Members of PMS and Sesame are being given access to a shared ownership mortgage from Leeds Building Society.

Knight Frank forecasts 5% fall in house prices next year

19 Dec 2011

Knight Frank is predicting a 5% drop in house prices next year, followed by a modest recovery thereafter.

MMR: Trade bodies welcome amended proposals

19 Dec 2011

Industry trade bodies have broadly welcomed the final consultation paper of the Mortgage Market Review, claiming the regulator has listened to their feedback and amended its proposals accordingly.

MMR: FSA clamps down on bridging

19 Dec 2011

The Financial Services Authority is to ban speculative bridging loans and those with a term of more than 12 months in a radical overhaul of the market.

MMR: No non-advised sales for equity release and SRB

19 Dec 2011

Equity release and sale-and-rent-back customers must always be given advice, the Financial Services Authority is proposing.

Speculative bridging loans will be banned

19 December 2011

The Financial Services Authority is to ban speculative bridging loans and those with a term of more than 12 months in a radical overhaul of the market.

Sharp rise in home losses predicted as unemployment takes hold in 2012

19 December 2011

Rising unemployment and the continued squeeze on household finances will cause a spike in repossessions next year, according to the Council of Mortgage Lenders.

CML downgrades 2011 and 2012 lending forecasts

15 Dec 2011

The Council of Mortgage Lenders has downgraded its forecasts for gross mortgage lending for both this year and next.

Skipton increases B2L rates

14 Dec 2011

Skipton Building Society has increased rates on some of its buy-to-let mortgages as a result of swap rate rises.

Unemployment rises to 2.64 million

14 Dec 2011

The number of unemployed people in the UK climbed to 2.64 million in the three months to October, figures from the Office for National Statistics have revealed.

Inflation will fall to 3% by March, says MPC member

13 Dec 2011

2012 should be remembered as the year in which inflation fell sharply, according to a member of the Monetary Policy Committee.

Halifax predicts stable house prices for next year

12 Dec 2011

House prices will remain stable next year, Halifax has forecast.

280,000 Scots to skip rent or mortgage for Christmas costs

12 Dec 2011

Some 280,000 Scots expect to miss their rental or mortgage payment this month in order to pay for Christmas, according to Shelter Scotland.

MIG properties may see immediate fall in value

12 Dec 2011

Properties sold under the government’s mortgage indemnity guarantee scheme could depreciate in value the day after purchase, the Royal Institution of Chartered Surveyors is warning.

FSA U-turn sees lenders escape the need to justify rejected applications

12 December 2011

The Financial Services Authority says brokers will not be required to ask lenders why they have refused mortgage cases, as a result of its Mortgage Fraud Thematic Review.The FSA published the review in June in a bid to crack down on fraudulent behaviour.

Lenders fear changes to SMI will hit payments

12 December 2011

Paul Broadhead Lenders may not get cash

Purchase approvals up 15% year-on-year in November

9 Dec 2011

The number of mortgage approvals for purchase increased by 15% year-on-year in November, according to the latest mortgage monitor from e.surv.

Base rate kept on hold and no more QE

8 Dec 2011

The Bank of England’s Monetary Policy Committee has today voted to keep the base rate on hold and not increase the size of the asset purchase programme.

82% of brokers predict bridging growth in 2012

7 Dec 2011

Some 82% of brokers believe the short-term lending market will grow in 2012, according to research from Precise Mortgages.

UK prime RMBS deteriorating, says Moody’s

7 Dec 2011

The outlook for prime residential mortgage-backed securities in the UK is deteriorating, according to a report from Moody’s.

Shawbrook enters short-term lending market

6 Dec 2011

Shawbrook Bank has launched into the short-term lending market with a product aimed at professional property investors.

CML brands SMI changes dangerous

6 Dec 2011

The Council of Mortgage Lenders is warning that changes to the Support for Mortgage Interest scheme being proposed by the government are dangerous.

House prices down 1% year-on-year in November

6 Dec 2011

House prices fell by 1% on an annual basis in November, according to the latest Halifax house price index.

European directive vote delayed until next year

5 Dec 2011

A key stage in voting through the European Commission’s mortgage directive has been delayed until next year against a backdrop of fears the regulation itself could be dropped as the eurozone crisis rages on.

Pricing issues see RMBS from Kensington pulled

5 December 2011

Investec’s decision to withdraw its £204m Kensington securitisation has raised fears about the ability of specialist lenders to raise funds in the wholesale markets.

20% Increase in year-on-year lending puts societies streets ahead of banks

5 December 2011

Building societies’ gross mortgage lending grew by 20% year-on-year in October, compared with an increase of just 4% from high street banks.

FSA appoints director to FSCS board

2 Dec 2011

The Financial Services Authority has appointed Paul Stockton as a non-executive director to the board of the Financial Services Compensation Scheme.

Precise to offer regulated bridging loans in 2012

1 Dec 2011

Precise Mortgages is planning to offer regulated bridging loans in the new year.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Lenders to charge 80% LTV rates for MIG scheme deals

28 November 2011

The government is planning for lenders to charge 80% LTV rates on the 95% LTV deals they will offer through its mortgage indemnity guarantee scheme.

Nationwide credits strong products and service for 48% rise in lending

28 November 2011

Nationwide has attributed a 48% increase in gross mortgage lending this year to competitive product launches and its customer service offering.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Paul Howard wants to stay in sector

21 November 2011

Paul Howard, head of corporate accounts at Nationwide, says he is on the lookout for fresh opportunities after announcing he is leaving the mutual at the end of the year.

Taylor Wimpey revises FirstBuy broker terms

21 November 2011

House builder Taylor Wimpey has changed its terms and conditions after Mortgage Strategy revealed that developers appear to be forcing FirstBuy borrowers to choose from a restricted panel of brokers.

Rent rises slow in October but arrears increase

18 Nov 2011

Rents hit a new high of £720 per month in October, but the pace of growth slowed to its lowest level since February, according to LSL Property Services’ latest buy-to-let index.

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.

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.

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.

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.

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.

Masthaven secures funding from Saffron BS

16 Nov 2011

Masthaven Bridging Finance has secured a funding line from Saffron Building Society.

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.

Barclays increases 75% LTV B2L rates

16 Nov 2011

Barclays is increasing rates on its recently launched 75% LTV buy-to-let deals.

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.

Precise launches in Scotland

16 Nov 2011

Precise Mortgages is launching its entire product range in Scotland this Friday.

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%.

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.

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.

IntelliFlo launches Intelligent Office system for brokers

14 Nov 2011

IntelliFlo has launched a dedicated version of its Intelligent Office system for mortgage brokers.

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.

Lenders' funding fears see LIBOR rocket to 1%

14 November 2011

Three-month LIBOR last week rose to 1% for the first time since July 2009 as lenders’ funding and liquidity fears deepened on the back of the eurozone crisis.

Newlife offers first residential deal for clients over 40

14 November 2011

Newlife has launched its first residential mortgage product as it kickstarts plans to offer a range of mortgages alongside its equity release offering.

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.

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.

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.

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.

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.

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.

Connells acquires Midlands estate agency

8 Nov 2011

Connells has acquired Burchell Edwards, an independent network of 16 estate agency branches in the Midlands.

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.

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.

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.

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.

Up to 10 firms in queue to clear lengthy FSA process

7 November 2011

Up to 10 would-be mortgage lenders are waiting to receive their Financial Services Authority authorisation, Mortgage Strategy can reveal.

RMBS market throws open door to specialists

7 November 2011

The securitisation market has been opened up to specialist lenders for the first time since the financial crisis started following a flurry of issuances last week.

Barclays raises its B2L profile with 75% LTV

7 November 2011

Barclays has kick-started its drive to become a major player in the buy-to-let sector by increasing its maximum LTV from 60% to 75%.

FSA steps in to prevent risky PPI being reborn

7 November 2011

The Financial Services Authority has staged its first product design intervention, warning that firms are creating versions of payment protection insurance that pose similar risks to old products.

Regulator puts its case forward for regulation of B2L

7 November 2011

Regulating the buy-to-let sector alongside the residential market would be beneficial, the Financial Services Authority has claimed.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Nationwide revamps new-build criteria

31 Oct 2011

Nationwide is changing its policy for new-build valuations and lending.

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.

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.

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.

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.

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.

Court upholds Paragon's action on £6.9m B2L debt

31 October 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.

Kent Reliance launches only 85% LTV buy-to-let deal on the market

31 October 2011

Kent Reliance has launched an 85% LTV buy-to-let product the only deal of its kind on the market.

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.

Countrywide sets up new-build conveyancing team

27 Oct 2011

Countrywide Conveyancing Services has set up a specialist conveyancing team for new-build properties.

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.

L&G Mortgage Club ties up with Positive Solutions

26 Oct 2011

Legal & General Mortgage Club has announced a new partnership with Positive Solutions.

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.

Woolwich offers 90% LTV

26 Oct 2011

Barclays has extended the maximum LTV on its Woolwich mortgage range to 90%.

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.

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.

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.

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.

Flat or fall forecast for 2012 brings little cheer

24 October 2011

Gross mortgage lending will remain flat next year and could even decline, industry experts are predicting.

Lenders warned over third party payments

24 October 2011

Lenders have been urged to be more vigilant of cases where struggling borrowers sign over their mortgage payments to a third party investor.

RMBS are benefiting from low rates and stable economy, says Moody's

24 October 2011

The UK’s residential mortgage-backed securities market is performing well due to a stable economy and low interest rate environment, says Moody’s.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Lenders and brokers to cooperate more as part of fraud initiative

17 October 2011

Lenders and brokers have pledged to share more information in an effort to crack down on mortgage fraud as part of an initiative launched last week.

Towergate paid out £1.3m for John Charcol takeover

17 October 2011

John Charcol was bought by Towergate Financial for £1.3m in February last year, Mortgage Strategy can reveal.

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.

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.

Fitch downgrades Lloyds and RBS

13 Oct 2011

Fitch Ratings has downgraded Lloyds Banking Group and Royal Bank of Scotland from AA- to A.

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.

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.

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.

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.

TMW launches affordability app for brokers

10 Oct 2011

The Mortgage Works is launching a buy-to-let affordability calculator app for intermediaries.

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.

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.

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.

B2L will not come under EU regulation, says CML

10 October 2011

The Council of Mortgage Lenders says amendments being added to the European Commission’s mortgage directive would exempt buy-to-let.The amendments, which the trade body has seen, have not yet been made public.

Eurozone crisis will keep lending depressed in UK for years to come

10 October 2011

The eurozone crisis will exacerbate UK market conditions and keep lending low for the next few years, industry commentators believe.

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.

Cambridge BS launches limited edition three-year fix

6 Oct 2011

Cambridge Building Society has launched a limited edition three-year fixed rate mortgage.

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.

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.

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.

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.

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.

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.

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%.

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.

Falling demand will depress house prices, says Hometrack

3 Oct 2011

A shift in the balance between housing supply and demand is beginning to emerge, which is likely to push down property prices, according to Hometrack.

Broker hopes rise as Skipton offers 95% new-build product via Connells

03 October 2011

Brokers have praised Skipton Building Society for its innovative approach to lending after it launched a 95% LTV mortgage for new-build properties.

End of FTB tax holiday will not boost purchases

03 October 2011

The end of the Stamp Duty holiday for first-time buyers will fail to boost the market with a late surge in transactions, according to industry commentators.

Openwork results show it paid out £500,000 in client redress last year

03 October 2011

Openwork paid out £500,000 in customer redress in 2010, its annual results reveal.

September for-sale listings down 14% year-on-year

30 Sep 2011

The number of new for-sale listings in September fell by 7.6% compared to August and by 14.2% compared to September 2010, according to the latest Agency Express Property Activity Index.

CBI calls on government to launch FTB initiatives

30 Sep 2011

The chancellor should introduce a raft of measures to help first-time buyers in his autumn statement in order to kick start the housing market, according to the Confederation of British Industry.

Y3S becomes preferred partner of Omni Capital

29 Sep 2011

Omni Capital has named Y3S Bridging & Commercial as one of its preferred packager partners.

Mutuals’ gross mortgage lending up 8% year-on-year

29 Sep 2011

Gross mortgage lending by mutuals totalled £2.1bn in August, an 8% increase on the £2.0bn advanced in August 2010, according to figures from the Building Societies Association.

House prices up 0.1% in September

29 Sep 2011

Average house prices in the UK increased by 0.1% in September to reach £166,256, Nationwide’s latest house price index shows.

House prices down 2.6% year-on-year

28 Sep 2011

The average house price in England and Wales fell by 0.3% between July and August to reach £162,347, according to Land Registry Data.

Tight wholesale funding is restricting lending, says Bank

28 Sep 2011

Lenders say that the cost and availability of funding is weighing down on credit availability, the Bank of England’s Credit Conditions Survey for Q3 reveals.

Barclays cuts fixed rates but increases trackers

27 Sep 2011

Barclays is reducing rates on a third of its Woolwich fixed rate mortgages, but is increasing rates on some of its tracker and offset deals.

Northern Rock overhauls mortgage product offering

26 Sep 2011

Northern Rock has refreshed its mortgage product offering, withdrawing and reducing rates on a select number of existing deals as well as launching new products.

Pink relaunches DA club

26 Sep 2011

Pink is relaunching its club for directly authorised advisers, the Pink Club.

Scarce supply making rural property unaffordable, says Hometrack

26 Sep 2011

A shortage of supply combined with increasing demand is making property unaffordable for first-time buyers in rural areas, according to Hometrack.

BSA proposes shared ownership scheme for existing home owners

26 September 2011

Shared ownership schemes where by existing home owners sell some of the equity in their property and pay rent on it should be developed to curb repossessions, says the Building Societies Association. In a report published last week, A Joined-up Approach To Helping Mortgage Borrowers, the BSA puts forward such schemes as one of four solutions which could work together to form a long-term safety net against repossessions.

Regulator raps industry tweeters on product ads

26 September 2011

The Financial Services Authority is taking a hard line on mortgage companies advertising products on Twitter.

FSA cracks down on tweets

23 Sep 2011

The Financial Services Authority is believed to be taking a hard line on mortgage firms advertising products on Twitter.

Leeds BS launches five-year fix B2L deal at 4.99%

23 Sep 2011

Leeds Building Society is launching a five-year fixed rate buy-to-let mortgage with a rate of 4.99%.

Yorkshire BS expands buy-to-let range

23 Sep 2011

Yorkshire Building Society is expanding its buy-to-let range in terms of both products and distribution after making a tentative launch into the market in August.

CML: Benefit reform will restrict lending to social landlords

22 Sep 2011

Welfare reform that will pay housing benefit directly to tenants rather than landlords is likely to restrict mortgage finance to social landlords, according to the Council of Mortgage Lenders.

Post Office withdraws from buy-to-let market

21 Sep 2011

The Post Office has withdrawn its entire range of buy-to-let mortgages.

FSA says BoI bond buy-back falls outside its remit

20 Sep 2011

The Financial Services Authority has told Bank of Ireland bondholders who are protesting against a buy-back offer from the Bank for less than the bonds’ market value that it does not have the authority to intervene in the matter.

August gross mortgage lending up 10% year-on-year

20 Sep 2011

Gross mortgage lending totalled £13.4bn in August, up 10% on the £12.1bn advanced in August 2010, according to data from the Council of Mortgage Lenders.

Financial services unaffected by Vertex’s private sector sale

19 Sep 2011

Vertex has confirmed that its financial services sector will be unaffected by a sell-off of its private sector business to Capita Group.

Leeds BS launches five-year fix at 4.19%

19 Sep 2011

Leeds Building Society is launching a five-year fixed rate mortgage at 4.19%.

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.

BSA calls for coherent approach on repossessions

19 Sep 2011

The Building Societies Association is calling for the government, the mortgage industry and consumer groups to work together to help those at risk of repossession.

Aldermore launches 95% LTV deal with Hitachi Capital

19 Sep 2011

Aldermore is launching a mortgage scheme for those with a 5% deposit in conjunction with Hitachi Capital.

Barratt claims low LTV lending is suppressing demand for new homes

19 September 2011

Barratt Developments has criticised lenders for their stringent mortgage criteria on new-build homes, claiming they are disadvantaging house builders by limiting the maximum LTV they will lend on new-build.In its annual results for the year ended June 30, Barratt says the restricted availability of mortgage finance is a key reason for low housing demand, which has weakened its financial performance over the past year.It says mortgage finance is particularly restricted ...

ICB's report stops short of forcing Lloyds group to sell more branches

19 September 2011

The Independent Commission on Banking has held off from ordering Lloyds Banking Group to sell more than the 632 branches it has already agreed under European Union obligations.The bank was required to sell the branches as a result of the government bailout it received during the financial crisis, but the ICB’s interim report recommended the number of branches included in the sale be significantly increased.However, in its final report last week, the ICB recommends ...

Could shared ownership be the answer for first-time buyers?

17 Sep 2011

With the news this week that rents hit another record high of £713 per month in August, renting is evidently becoming increasingly unaffordable for many, particularly in London, where average rents have now hit £1,025 per month.

CoreLogic and Synectics launch fraud prevention tool

16 Sep 2011

CoreLogic and Synectics Solutions have teamed up to launch a scoring solution designed to identify mortgage fraud.

Rents and tenant arrears rise in August

16 Sep 2011

Rents registered their largest monthly increase in a year in August, rising by 1.2% to an average of £713 per month, according to the latest buy-to-let index from LSL Property Services.

MEP calls for internationally consistent mortgage regulation

15 Sep 2011

Regulatory reform of the mortgage sector needs to be consistent internationally as well as within Europe, according to the MEP who called for a 14-day cooling off period for mortgages.

FSA to scrutinise DA firms’ systems and controls, says Bankhall

15 Sep 2011

Bankhall is urging adviser firms to review their systems and controls in light of the Financial Services Authority’s increasing scrutiny of this area.

Benefits reform will increase tenant arrears, says Landlord Assist

15 Sep 2011

Changes to the benefits system will increase arrears levels among social tenants and cause landlords to leave the social sector, Landlord Assist has warned.

Kent Reliance to distribute through TBMC

14 Sep 2011

Kent Reliance has selected TBMC to distribute its range of buy-to-let mortgages.

£40bn worth of mortgages in the pipeline, says FSA

13 Sep 2011

Lenders have agreed to advance £40bn worth of mortgages in the coming months, up 13% on the amount agreed in Q1, according to the Financial Services Authority’s latest mortgage lending data.

Economic gloom depresses August house sales

13 Sep 2011

Uncertainty surrounding the economy depressed the level of property sales in August, according to the latest UK housing market survey from the Royal Institution of Chartered Surveyors.

Former mortgage broker convicted of fraud

12 Sep 2011

A man masquerading as a mortgage broker has been convicted of fraud after pocketing a £5,000 arrangement fee from a client.

ICB confirms ring-fence but saves Lloyds from further branch sell-off

12 Sep 2011

The Independent Commission on Banking has confirmed that Britain’s banks will have to ring-fence their retail divisions from their investment arms in its final report, published today.

Furness BS strengthens regional development team

12 Sep 2011

Furness Building Society has strengthened its regional development team with the aim of increasing the volume of mortgage business it does through brokers.

Lending will suffer as banks face painful liquidity requirements

12 September 2011

New regulatory restraints on banks’ liquidity will force them to scale back lending that requires high levels of capital and increase interest rates on loans, according to JPMorgan.

Rooftop reaps the benefits of low three-month LIBOR as arrears fall

12 September 2011

Low three-month LIBOR is behind a significant decrease in Rooftop Mortgages’ arrears, according to Fitch Ratings.A report from the ratings agency shows that the arrears levels of Mansard Mortgages, a series of non-conforming residential mortgage-backed securities originated by Rooftop, have almost halved since their peak.Fitch says: “The arrears in this series have stabilised as all the loans are linked to the three-month LIBOR rate and are benefiting from the ...

Management reshuffle at Mortgage Talk

9 Sep 2011

Mortgage Talk has announced a restructure of its management team, with managing director Andrew Frankish becoming commercial director.

House prices down 2.2% year-on-year in August, says LSL

9 Sep 2011

House prices increased by 0.3% in August compared to the previous month, but fell by 2.2% year-on-year, according to the latest LSL/Acadametrics House Price Index.

Abbey launches five-year fix at 3.99%

8 Sep 2011

Abbey for Intermediaries is launching a five-year fixed rate mortgage with a rate of 3.99% and a £495 fee.

CML defends UKAR’s stance on arrears

7 Sep 2011

The Council of Mortgage Lenders has defended UK Asset Resolution’s decision to contact borrowers if changes in their financial profile suggest they may be at risk of falling into arrears.

Mortgage Talk teams up with Complete

7 Sep 2011

Mortgage Talk has formed a strategic relationship with Complete in order to improve its access to a wider range of mortgage products.

House prices down 1.2% in August

7 Sep 2011

House prices fell by 1.2% in August to an average of £161,743, according to the latest Halifax house price index.

Mortgage product numbers up marginally in August

6 Sep 2011

The number of mortgage products available to intermediaries increased by 2% in August, taking the rise in product numbers over the past six months up to 40%.

More landlords investing in family-sized property

6 Sep 2011

The number of landlords investing in family-sized property increased significantly in Q3 2011, research from Paragon shows.

RBS, HSBC and Barclays under fire in US lawsuit

5 Sep 2011

The Royal Bank of Scotland, HSBC and Barclays are among the 17 banks being sued by a US regulator for their role in the sale of toxic mortgage-backed securities.http://cms.mortgagestrategy.co.uk/CMS/commentEdit.aspx?label=comment&id=57927&KeepThis=true&modal=true&TB_iframe=true&width=650&height=500#

CML broker sales data is called into question

5 September 2011

RAY BOULGER - DEFINITION IS MISLEADING

Lenders are keen to use HMRC's anti-fraud tool

5 September 2011

CHARLES HARESNAPE - SCHEME WILL BE USEFUL

Cambridge BS launches large loan mortgage up to £2m

2 Sep 2011

The Cambridge Building Society is today launching a mortgage specifically aimed at those seeking a large loan size of between £500,000 and £2m.

Nationwide bans interest-only for shared equity mortgages

1 Sep 2011

Nationwide will no longer lend on an interest-only basis for shared equity mortgages as part of a number of changes to its shared equity criteria.

House prices fall by 0.6% in August

1 Sep 2011

House prices fell by 0.6% in August compared to the previous month, according to the latest Nationwide house price index.

Barclays launches offset mortgage deals

31 Aug 2011

Barclays is launching a new range of Woolwich offset mortgages tomorrow for a limited period only.

GE Money launches FTB deals

30 Aug 2011

GE Money Home Lending is launching a new range of mortgage products aimed at first-time buyers up to 75% LTV.

Cambridge BS launches three-year fix broker exclusive

30 Aug 2011

Cambridge Building Society has launched a three-year fixed rate remortgage product exclusively via intermediaries.

Banks pay out £215m in PPI compensation in H1 2011

30 Aug 2011

Firms have paid out a total of £215m during the first half of 2011 in compensation to consumers who were mis-sold payment protection insurance, figures from the Financial Services Authority reveal.

Housing market in crisis, warns NHF

30 Aug 2011

A chronic under supply of homes is plunging the housing market into crisis, the National Housing Federation has warned.

Countrywide appoints associate director of conveyancing

30 Aug 2011

Countrywide has appointed Parveen Kumari as associate director of conveyancing services.

Mutuals’ gross lending up 6% year-on-year in July

30 Aug 2011

Gross mortgage lending by mutuals increased by 6% in July compared to the same month last year, according to the Building Societies Association.

Whiteaway Laidlaw Bank acquires Link Loans

22 Aug 2011

Whiteaway Laidlaw Bank has acquired secured loans lender Link Loans.

Britons expect to become FTBs aged 35

22 Aug 2011

The average age that Britons expect to take their first step onto the housing ladder is 35, according to research from Post Office Mortgages.

Stonebridge launches POS system

22 Aug 2011

Stonebridge Group is today launching a point-of-sale system which interacts with its current client retention and back-office system, Revolution.

Dodgy clubs stoke rise in landlord repossessions

22 August 2011

DAVID LAWRENSON, EXPECT TO SEE MORE ROGUES

Rate hold is unanimous but QE hike is discussed

22 August 2011

Further quantitative easing could be on the cards in the coming months, minutes of the Monetary Policy Committee’s August meeting have revealed.

TBMC launches exclusives with Hinckley & Rugby

19 Aug 2011

TBMC is launching two exclusive buy-to-let products from Hinckley & Rugby Building Society.

Rents rise for sixth consecutive month

19 Aug 2011

Rents rose for the sixth consecutive month in July to reach a record high, according to LSL Property Services’ buy-to-let index.

Gross mortgage lending down 6% year-on-year in July

18 Aug 2011

Gross mortgage lending totalled £12.6bn in July, down 6% on the £13.3bn lent in July 2010, according to data from the Council of Mortgage Lenders.

Mortgage arrangement fees rise 17% year-on-year

17 Aug 2011

The average mortgage arrangement fee increased by 17% in August compared to the same month in 2010, statistics from Moneyfacts show.

Concern over number of 100% LTV deals without guarantees

15 August 2011

There are currently 13 mortgage products marketed as 100% LTV deals available from three providers, Moneyfacts has confirmed.Northern Bank, which lends to Northern Ireland residents, offers 10 mortgage products up to 100% LTV. They are only available direct.Last month, Marsden Building Society launched a family offset deal available up to 100% LTV.It is available to residents of England and Wales with a family member putting up 20% of the property’s value ...

Regulators confirm BoI cash offer is not bribery

15 August 2011

AARON STRUTT, BROKERS NOT IMPRESSED

Skipton launches direct-only five-year fix at 3.89%

12 Aug 2011

Skipton Building Society has launched a direct-only five-year fixed rate mortgage at 3.89%.

Skipton launches 10-year fix at 5.85%

11 Aug 2011

Skipton Building Society is launching a 10-year fixed rate mortgage product with no product fee.

Ex-moneysupermarket duo to launch protection site

11 Aug 2011

Two former managers at moneysupermarket.com are to launch a new website offering comparison quotes for protection products.

Coventry Intermediaries launches four-year fix at 2.99%

11 Aug 2011

Coventry Intermediaries is launching two, three and four-year fixed rate mortgages, all with a rate of 2.99%.

L&G launches fundraising scheme with Shelter

10 Aug 2011

Legal & General is asking mortgage brokers to donate £1 of each proc fee they receive to Shelter as part of a new fundraising initiative.

Number of FTB mortgages at 10-month high

10 Aug 2011

The number of mortgages taken out by first-time buyers reached a 10-month high in June, according to data from the Council of Mortgage Lenders.

Cambridge BS launches 95% LTV mortgage

9 Aug 2011

The Cambridge Building Society is launching a 95% LTV deal for first-time buyers that offers a reduced interest rate for the first year of the mortgage term.

Skipton cuts fixed rate mortgages by up to 0.30%

8 Aug 2011

Skipton Building Society is reducing rates on selected three-year fixed rate mortgages by up to 0.30%.

NatWest launches FTB cashback mortgage

8 Aug 2011

NatWest Intermediary Solutions is launching a first-time buyer 90% LTV mortgage that comes with £250 cashback.

14% of mortgages originated since 2005 in negative equity

8 Aug 2011

A quarter of those with mortgages originated since Q2 2005 have equity of less than 10% in their homes, according to research published today by the Council of Mortgage Lenders.

Hinckley & Rugby BS launches two-year fix with TBMC

8 Aug 2011

Hinckley & Rugby Building Society is launching a two-year fixed rate buy-to-let mortgage through TBMC.

Clydesdale and Yorkshire halve mortgage fees for existing customers

8 Aug 2011

Clydesdale and Yorkshire banks are offering signature account customers halved product fees across a range of their mortgage deals.

High FSA fees and consolidation to blame as AR numbers slump

8 August 2011

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

Small lenders under the cosh on income criteria

8 August 2011

Smaller buy-to-let lenders are under pressure to scrap their minimum income requirements to compete with bigger players, according to industry commentators.

Base rate kept on hold at 0.5%

4 Aug 2011

The Bank of England has voted to maintain the base rate at 0.5%.

Paradigm adds Bath BS to lender panels

4 Aug 2011

Paradigm Mortgage Services is adding Bath Building Society to its lender panel for directly authorised firms, as well as the panel of network Paradigm Financial Services.

Barclays cuts mortgage rates by up to 0.55%

3 Aug 2011

Barclays has reduced over 40% of its Woolwich mortgage products by up to 0.55% in its seventh consecutive rate cuts.

Over 65s have property wealth of £752bn

3 Aug 2011

Homeowners aged 65 plus own a total of £752.1bn in property wealth, according to research from Key Retirement Solutions.

Nationwide cuts five-year fix to 3.99% with no product fee

2 Aug 2011

Nationwide is reducing rates across all of its five-year fixed rate mortgages by 0.10% and across all of its two-year tracker deals by 0.15%.

Precise ups loan size to £1m and relaxes self-employed criteria

2 Aug 2011

Precise Mortgages has doubled its maximum loan size for owner-occupiers from £500,000 to £1m and relaxed its lending criteria for self-employed borrowers.

Purchase instructions up 66%, says Conveyancing Alliance

2 Aug 2011

Conveyancing Alliance has reported a 66% increase in purchase instructions and a 33% rise in remortgage instructions for the first half of 2011, compared to the first half of 2010.

Aldermore to accept first-time landlords for B2L deals

1 Aug 2011

Aldermore will now accept first-time landlords for its buy-to-let products.

MoneyPlus Group links up with HomeLoan Partnership

1 Aug 2011

Debt management firm MoneyPlus Group has joined forces with HomeLoan Partnership in a deal that will provide the network’s brokers with access to debt solutions.

Northern Rock bad bank changes policy on forbearance

1 Aug 2011

Northern Rock Asset Management has called time on its forbearance policy of capitalising arrears.

Halifax launches saver initiative for FTBs

1 Aug 2011

Halifax is offering first-time buyers a £600 reward if they save for a house deposit using an account with the lender.

Hike in mortgage adviser numbers adds to Connells' profits of £16.9m

1 August 2011

Connells last week announced a pre-tax profit of £16.9m for the first six months of 2011.

Rock bad bank changes its policy on forbearance

1 August 2011

Northern Rock Asset Management has called time on its forbearance policy of capitalising arrears.

Leeds BS launches five-year fix at 4.89%

29 Jul 2011

Leeds Building Society is launching a five-year fixed rate mortgage available up to 85% LTV with a rate of 4.89%.

Secured lending fell by £100m in June

29 Jul 2011

Lending secured on property fell by £100m in June, compared to a previous six-month average increase of £800m, research from the Bank of England reveals.

CML disappointed at Scotland's repossessions ruling

28 Jul 2011

The Council of Mortgage Lenders says it is disappointed with today’s decision by the Scottish government not to reverse the effects of the case of RBS v Wilson on mortgage repossessions.

Chelsea launches lowest five-year fix at 3.39%

28 Jul 2011

Chelsea Building Society is launching the lowest five-year fixed rate mortgage available on the market at 3.39%.

Abbey launches two-year fix at 2.99% and cuts rates

28 Jul 2011

Abbey for Intermediaries is launching several new mortgage products with rates starting at 2.99%, while it has also reduced rates across its existing deals by up to 0.20%.

Paragon lends £65.7m in Q2

28 Jul 2011

Paragon Mortgages’ parent company The Paragon Group of Companies has announced new buy-to-let lending of £65.7m for Q2 2011.

One in three Britons would consider self-build

27 Jul 2011

Almost one in three Britons would consider building their own home in the next five years, according to research from Norwich & Peterborough Building Society.

Connells reports pre-tax profit of £16.9m for first half of 2011

27 Jul 2011

Connells has announced a pre-tax profit of £16.9m for the first six months of 2011.

Clydesdale launches two Mortgage Trading Exchange forms

27 Jul 2011

Clydesdale Bank is launching two new residential and buy-to-let mortgage application forms on the Mortgage Trading Exchange.

Non-conforming UK RMBS deteriorating, says Moody’s

26 Jul 2011

Non-conforming residential mortgage-backed securities in the UK are deteriorating, according to Moody’s.

First Direct appoints Mark Mullen as CEO

26 Jul 2011

First Direct has appointed Mark Mullen as its new chief executive officer, who will take over the role on September 1.

Advisers not meeting equity release demand, says Paradigm

26 Jul 2011

Many consumers who may be suitable for equity release are not having their needs met by advisers, according to Paradigm Mortgage Services.

Skipton ups LTV limit for large loans to 90%

25 Jul 2011

Skipton Building Society has increased the maximum LTV it will lend on loans of £400,000-£500,000 to 90%.

Equity release sales up 5% year-on-year in 2011

25 Jul 2011

The number of equity release plans sold in the first half of 2011 increased by 5.24% compared to the same period last year, its first rise since 2007, according to research from Key Retirement Solutions.

Bath offers alternative to buying with friends

25 July 2011

Bath Building Society has responded to housing minister Grant Shapps’ call for lenders to provide mates mortgages by launching products that take into account the rental income from letting a room.

Teachers BS expands distribution to Next Intelligence

22 Jul 2011

Teachers Building Society is extending the distribution of its intermediary mortgage range to directly authorised club Next Intelligence.

N&P cuts rates on 85% LTV deals

22 Jul 2011

Norwich and Peterborough Building Society is reducing rates on its range of 85% LTV mortgages by up to 0.4%.

Self-build industry delivers action plan to Grant Shapps

21 Jul 2011

Housing Minister Grant Shapps has today welcomed an action plan put together by the self-build industry on how to make self-build a mainstream housing option.

Gross lending will fall short of CML forecast, says AMI

21 Jul 2011

Gross mortgage lending will fall short of the £140bn forecast by the Council of Mortgage Lenders, according to the Association of Mortgage Intermediaries.

FSA fines firm £6.9m for anti-bribery failings

21 Jul 2011

The Financial Services Authority has handed out its biggest penalty in relation to financial crime systems and controls to date by fining Willis Limited £6.895m.

Optima Legal promotes two staff to partners

20 Jul 2011

Optima Legal has promoted two members of staff to partners.

Key Retirement Solutions launches care fees planning service

20 Jul 2011

Key Retirement Solutions is to launch a care fees planning service in conjunction with live-in care specialists Helping Hands.

Sesame launches conveyancing referrals service

20 Jul 2011

Sesame Bankhall Group is launching a conveyancing referrals service for its members as part of a new legal services proposition.

Halifax Intermediaries cuts rates by up to 0.50%

19 Jul 2011

Halifax Intermediaries has reduced rates by up to 0.50% across its product transfer mortgage range.

Skipton cuts rates by up to 0.30%

19 Jul 2011

Skipton Building Society is reducing rates on its residential and buy-to-let fixed rate mortgage products.

Lenders’ panel reductions biggest concern for conveyancers

19 Jul 2011

Lenders’ policy of reducing their solicitor panels in order to manage the risk of mortgage fraud is the biggest concern for the majority of conveyancers, according to a survey by the Conveyancing Association.

Countrywide acquires estate agency Blundells

19 Jul 2011

Countrywide has acquired Yorkshire-based estate agency Blundells.

Kensington doubles maximum loan size to £1m

18 Jul 2011

Kensington has doubled its maximum loan size to £1m and increased the amount it will lend to first-time buyers to £500,000.

Landlords warned over property title fraud

18 Jul 2011

Landlord Assist has warned landlords to check their properties are correctly registered with the Land Registry to help protect themselves against property title fraud.

Equity release advisers warned over house price predictions

18 Jul 2011

Equity release advisers making overly ambitious predictions on house price increases risk recommending unsuitable products to consumers, Bridgewater Equity Release has warned.

Brokers report rise in B2L business in Q2

18 Jul 2011

Intermediaries conducted more buy-to-let business in Q2 2011 than in the previous quarter, according to research by Paragon Mortgages.

MPs call for 12 month delay on RDR

18 Jul 2011

MPs on the Treasury Select Committee are calling on the Financial Services Authority to delay the implementation of the Retail Distribution Review by 12 months.

Claims management and will writing warning to consumers

18 Jul 2011

Consumers who do not check whether claims management and will writing firms are regulated risk being left without legal protection should something go wrong, the Legal Ombudsman has warned.

Ring-fencing proposal poses threat to mutuals

18 July 2011

Proposals for lenders to ring-fence retail activities could hit mutuals’ capacity for mortgage lending, according to the Building Societies Association.

Co-op in talks to sell life arm to Royal London

15 Jul 2011

Co-operative Financial Services is looking to sell its life assurance and asset management businesses.

Number of B2L products up 35% in three months

15 Jul 2011

The number of buy-to-let products available has increased by 35% over the past three months, according to research from Mortgages for Business.

Average rents smash £700 per month barrier

15 Jul 2011

Average rents increased by 0.7% in June to reach a record high of £701 per month, up from £696 in May.

Remortgage applications up 65% year-on-year in June

14 Jul 2011

Remortgage applications were up 28% in June compared to the previous month and 65% compared to a year ago, according to research by Mortgage Advice Bureau and Coreco Group.

Positive Solutions to offer Bank of China mortgages

14 Jul 2011

Positive Solutions has partnered with the Bank of China in order to extend the range of mortgage products available to its clients.

Openwork appoints MD of distribution and marketing

13 Jul 2011

Openwork has appointed Mark Duckworth as managing director of distribution and marketing.

Credit union extends offering in response to high interest lenders

13 Jul 2011

Manchester Credit Union has teamed up with housing providers in Rochdale to extend its affordable credit and insurance products to the borough as an alternative to high interest lenders.

Clydesdale launches 90% LTV new-build deals

13 Jul 2011

Clydesdale Bank is launching two ranges of 90% LTV products; one for new-build properties and the other for professional first-time buyers.

Nationwide restricts criteria for non-EEA foreign nationals

12 Jul 2011

Nationwide has restricted its mortgage lending criteria for non-EEA foreign nationals who do not have indefinite leave to remain in the UK.

Chelsea BS enters 90% LTV market

12 Jul 2011

Chelsea Building Society is entering the 90% LTV mortgage market with the launch of a range of direct-only deals.

Kensington opens up 90% LTV to whole of market

12 Jul 2011

Kensington is opening up its 90% LTV mortgage lending to the whole of the market.

Castle Trust appoints head of lending

12 Jul 2011

Castle Trust has appointed James Neave as head of lending.

House prices will not return to peak levels until 2020, says PwC

12 Jul 2011

UK real house prices are unlikely to return to their previous peak levels until 2020, according to PricewaterhouseCooper’s latest UK Economic Outlook report.

Accord cuts five-year fix to 3.84%

11 Jul 2011

Accord Mortgages has reduced rates across its mortgage products by up to 0.35%, putting its five-year fix available up to 75% LTV at 3.84%.

NatWest slashes B2L rates by up to 1.40%

11 Jul 2011

NatWest Intermediary Solutions is reducing rates across its mortgage range from tomorrow, including cuts of up to 1.40% on buy-to-let products.

N&P warns of branch closures if Yorkshire merger falls through

11 Jul 2011

Norwich & Peterborough Building Society has warned that it would have to close branches and withdraw certain products and services if its proposed merger with Yorkshire Building Society is not voted through.

Number of mortgage products sees seventh monthly rise in June

11 Jul 2011

The number of mortgage products available to intermediaries increased by 4% in June, its seventh monthly rise in a row, according to Mortgage Brain’s latest product analysis.

Remortgage activity up 17% in May

11 Jul 2011

The number of remortgage loans advanced in May increased by 17% by number and by 20% by value compared to the previous month, according to data from the Council of Mortgage Lenders.

Cool response to mates mortgages from lenders

11 July 2011

Lenders are unlikely to respond to housing minister Grant Shapps’ call to offer ’mates mortgages’ due to a lack of demand for the products, say industry commentators.

Industry welcomes clarity supplied by capped care costs in Dilnot report

11 July 2011

The Dilnot report on long-term care funding will provide consumers with the clarity they need to plan their retirement funding, say equity release providers.

Genistar teams up with Safe&Secure

8 Jul 2011

Genistar Limited has announced a distribution tie-up with Safe&Secure under which all of its associates will introduce customers with home insurance needs to Safe&Secure.

Property transactions up 20% in June

8 Jul 2011

Property transactions increased by 20% in June compared to the previous month, according to the latest LSL Property Services/Acadametrics House Price Index.

Hinckley & Rugby triples mortgage applications in 2011

7 Jul 2011

Hinckley & Rugby Building Society received mortgage applications worth more than £40m in the first half of its business year 2010/11 - three times its £13m total for the first half of last year.

Lloyds group and Co-op pull NOTW advertising

7 Jul 2011

Lloyds Banking Group and The Co-operative Group are among the latest firms to pull their advertising from the News of the World in the wake of the phone hacking scandal.

Mortgage valuation activity up 13% in Q2

7 Jul 2011

Residential mortgage valuation activity increased by 13% in Q2 2011, according to the latest Housing Market Activity Report by Connells Survey and Valuation.

Castle Trust appoints managing director for mortgages

6 Jul 2011

Castle Trust has appointed Mike Hughes as managing director for mortgages to develop its ‘partnership mortgage’ products due to launch later this year.

Rising number of homeowners improving rather than moving

6 Jul 2011

An increasing number of homeowners are choosing to improve their existing properties rather than move house, according to research from the Royal Institution of Chartered Surveyors.

House prices up 1.2% in June

6 Jul 2011

House prices increased by 1.2% in June, but remain 3.5% lower than the same time last year, according to the latest Halifax House Price Index.

Rental yields highest in the West Midlands

6 Jul 2011

Properties in the West Midlands generate the highest rental yields in the UK, according to research by Paragon.

Banks should offer ‘mates mortgages’, says Shapps

5 Jul 2011

Banks should offer ‘mates mortgages’ that allow groups of friends to buy a house together, housing minister Grant Shapps will say today.

Property dealer jailed for £1.3m fraud

4 Jul 2011

A retail property dealer has been jailed for three years at Preston Crown Court today after being found guilty of defrauding seven investors in deals exceeding £1.3m.

Terraces will account for 40% of repossessions in 2011

4 Jul 2011

Terraced houses will account for 40% of all repossessions in the UK this year, according to HML’s regional repossession forecast.

43% of landlords say rental demand is rising

4 Jul 2011

Some 43% of landlords say rental demand is higher than it was six months ago and is sufficient to cover mortgage repayments, maintenance and cost , according to CHL Mortgages’ Landlord Survey.

Housing equity withdrawal negative again in Q1

4 Jul 2011

Housing equity withdrawal was -£5.8bn in Q1 2011, compared to -£7.1bn in Q4 2010, according to data from the Bank of England.

Forbearance hiding true arrears level, says Bank

4 July 2011

Lenders’ forbearance policies are masking the number of borrowers in arrears, with up to 12% feared to have fallen behind on payments, bank chiefs have warned.

Over 1,000 firms apply to join Conveyancing Quality Scheme

1 Jul 2011

The Law Society has received more than 1,000 applications from firms wanting to join its Conveyancing Quality Scheme.

Landlords feeling the pressure of tenant arrears, says Landlord Action

1 Jul 2011

Buy-to-let landlords are suffering increasing financial pressure as a result of rising tenant arrears, according to Landlord Action.

FSCS enquiries up 75% in the last year

1 Jul 2011

The number of enquiries received by the Financial Services Compensation Scheme in 2010/11 was 75% higher than the previous year.

Oakwood to service second-charge and unsecured loans

1 Jul 2011

Financial outsourcer Oakwood Global Finance LLP has appointed Gerry McHugh as director of operations to lead the firm’s expansion into second-charge and unsecured loans.

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%.

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%.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

HSBC reduces rates at 90% LTV

27 Jun 2011

HSBC has reduced rates on its mortgage products at 85% and 90% LTV.

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.

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.

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.

Castle Trust's shared equity deal is branded too complex for borrowers

27 June 2011

Brokers are concerned that shared equity mortgage products being developed by new lender Castle Trust will be too complicated for borrowers to understand.

Regulator can't pass the buck for ensuring brokers are up to scratch

27 June 2011

Brokers have hit out at the Financial Services Authority for failing to do its job properly after it told lenders to improve supervision of their broker panels.

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.

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.

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%.

Castle Trust appoints head of marketing

24 Jun 2011

Castle Trust has appointed Mikkel Bates as head of marketing.

Yorkshire BS launches fee-free fixed rate deal

24 Jun 2011

Yorkshire Building Society is today launching a fee-free mortgage product.

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%.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

TMA adds to debt solutions panel

20 Jun 2011

The Mortgage Alliance has added The Debt Advisor to its panel of debt solutions providers.

Government digs its heels in on enforcement action proposals

20 June 2011

The government has confirmed that the Financial Conduct Authority will have the power to reveal the identities of firms it is investigating before any enforcement action has been taken.

Product proposals risk hindering innovation

20 June 2011

The Financial Services Authority’s proposals on product intervention could stifle innovation in the mortgage market, brokers have warned.

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.

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.

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%.

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.

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.

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.

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.

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.

Paradigm adds Cambridge BS to lender panels

15 Jun 2011

Paradigm Mortgage Services has added Cambridge Building Society to its lender panels.

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.

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.

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.

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.

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.

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.

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.

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%.

IMF backs UK economic policy but warns of forbearance risks

13 June 2011

The International Monetary Fund put its weight behind the Bank of England’s stance on interest rates last week in a report that broadly endorsed the UK’s economic policy.

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.

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.

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%.

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%.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Kensington launches capped tracker range

6 Jun 2011

Kensington is launching a range of capped tracker mortgages available up to 80% LTV.

FSA investigates network for compliance practices

31 May 2011

The Financial Services Authority has revealed that it is investigating a network for having poor compliance practices.

Demand for housing falls in May

30 May 2011

Demand for housing fell for the first time in three months in May, with the number of new buyers registering with agents declining by 0.5%, according to Hometrack’s Monthly National Housing Survey.

Brokers claim Shelter survey lacks credibility

30 May 2011

DAVID SHEPPARD, SURVEY LACKS, BALANCE

Halifax removes interest-only premium and ups maximum loan size

27 May 2011

Halifax Intermediaries has removed interest-only rate premiums, creating a single rate range for both interest-only and repayment mortgages

Oakwood launches loan origination platform

27 May 2011

Mortgage servicer Oakwood Global Finance is launching a loan origination platform in partnership with Phoebus Software.

84% of FTBs rely on parental support

27 May 2011

84% of first-time buyers rely on financial support from their parents in order to purchase their first home, according to research from Clydesdale and Yorkshire Banks.

House prices rise by 0.3% in May

27 May 2011

The average house price increased by 0.3% in May compared to the previous month to reach £167,208, the Nationwide House Price Index shows.

Tiuta pulls out of regulated business

26 May 2011

Tiuta has announced it is to pull out of regulated business and focus solely on its core bridging activities.

Mortgage Rescue Scheme missed targets, says NAO

26 May 2011

The government’s Mortgage Rescue Scheme helped fewer than half the number of people avoid repossession that it planned to, according to a damning report by the National Audit Office.

TMW cuts rates and launches five-year fix

25 May 2011

The Mortgage Works is reducing rates on a number of its mortgage products and launching a five-year fixed rate deal at 4.99% available up to 50% LTV.

Popularity of fixed rates fell sharply in April

25 May 2011

The popularity of fixed rate mortgage products declined significantly in April, the latest John Charcol Mortgage Index shows.

PPI broker goes into administration

25 May 2011

An insurance broker whose main focus was providing payment protection insurance has gone into administration.

Scottish Widows launches fixed rate deals

24 May 2011

Scottish Widows is launching a number of new fixed rate mortgage products, as well as making changes to its existing range.

Lloyds group appoints insurance chief to head Scottish Widows

24 May 2011

Lloyds Banking Group has appointed Toby Strauss as group director for insurance, dampening expectations that it is to put Scottish Widows up for sale.

RBS targeted in US probe into banks’ mortgage practices

24 May 2011

The Royal Bank of Scotland is now being targeted in an expanded probe into mortgage practices at banks by the New York state attorney-general, as are UBS, JPMorgan Chase and Deutsche Bank, according to people familiar with the matter.

PMS breaks £250bn barrier for mortgage business

24 May 2011

Mortgage club PMS has broken the £250bn barrier for completed mortgage business since its inception in November 1996.

HML launches complaints handling service for PPI claims

23 May 2011

HML has launched a specialist complaints handling service to help companies deal with complaints about the mis-selling of payment protection insurance after the British Banking Association abandoned its high court appeal against the Financial Services Authority.

PruProtect’s income up 15% in Q1 2011

23 May 2011

PruProtect has announced its annual premium income activated in Q1 2011 increased by 15% compared to Q1 2010 to reach £6.1m.

Precise launches three short-term lending products

23 May 2011

Precise Mortgages has today launched its short-term lending range, which consists of three products.

Complaints rise as lenders refuse to port loans

23 May 2011

Ray Boulger

Media Spotlight: Brand Failures

23 May 2011

By Matt Haig

RPS quits rent-back as two senior staff leave

23 May 2011

Residential Property Solutions has left the sale-and-rent-back market following the resignation of two senior members of staff.

MBE 2011: Bridging demand outstripping supply

20 May 2011

The demand for bridging is continuing to outstrip supply, according to Laurence Goodman, managing director at Bridgebank Capital.

MBE 2011: Sub-prime still a dirty word

20 May 2011

The sub-prime market is still a long way off from seeing a resurgence, according to Jonathan Cornell, head of communications at First Action Finance.

Personal Touch adds ING Direct to lender panel

19 May 2011

Personal Touch has added ING Direct to its panel, allowing brokers within its community to access the lender’s products with immediate effect.

Brilliant Solutions adds Precise to lender panel

19 May 2011

Brilliant Solutions Mortgage Club has added Precise Mortgages to its lending panel.

Precise enters short-term loans market

19 May 2011

Precise Mortgages has confirmed it will shortly be launching into the short-term loans market.

N&P launches 90% LTV deals

18 May 2011

Norwich and Peterborough Building Society is launching two new 90% LTV mortgages and increasing the maximum LTV it is prepared to lend on self-build and new-build houses from 75% to 80%.

No change in MPC members voting for rate hike

18 May 2011

Three members of the Monetary Policy Committee voted for a rate rise in May, the same number as April, the minutes of the meeting show.

TMA offers brokers client-facing comparison site

17 May 2011

The Mortgage Alliance has teamed up with QuickQuote4u.com to offer directly authorised intermediaries the ability to create a client-facing comparison website.

Precise pays broker’s mortgage for a year

16 May 2011

Precise Mortgages is to pay the mortgage of James Summerlin of APH Financial Management Services for a year after the broker won a prize draw.

Immature FSA ruining the market, warns MP

16 May 2011

Labour MP George Mudie has dubbed the Financial Services Authority insecure and immature and claimed its Mortgage Market Review is damaging the housing market.

Nationwide reduces tracker mortgage rates

16 May 2011

Nationwide is to reduce rates on its two and three-year tracker mortgages by up to 0.20% from tomorrow.

Cambridge BS offers remortgage deal exclusively via brokers

16 May 2011

Cambridge Building Society is launching a remortgage product with reduced fees that is available exclusively via intermediaries and for borrowers in East Anglia.

Northern Rock launches Freedom to Fix mortgage range

16 May 2011

Northern Rock has launched a range of tracker mortgages that allow consumers to switch to a fixed rate, as well as reduced rates on existing products.

100% LTV mortgages are history, says CML

16 May 2011

The industry has seen the end of 100% LTV mortgages, says Michael Coogan, director-general of the Council of Mortgage Lenders.

Immature FSA ruining the market, warns MP

16 May 2011

Labour MP George Mudie has dubbed the Financial Services Authority insecure and immature and claimed its Mortgage Market Review is damaging the housing market.

BM Solutions reduces fixed rates

13 May 2011

BM Solutions will be reducing the rates on its buy-to-let fixed product range by 0.20% and extending end dates tomorrow.

Precise launches broker incentive

13 May 2011

Precise Mortgages has announced it will be giving away gifts to brokers and their customers in an incentive called The Big Give Away.

Co-op Bank and Britannia launch 85% LTV deal

13 May 2011

The Co-operative Bank and Britannia have launched a two-year fixed rate mortgage product available up to 85% LTV and reduced rates by up to 0.40% on other mortgage deals.

Abbey launches deals up to 90% LTV

12 May 2011

Abbey for Intermediaries is launching three new mortgage products and reducing rates by up to 0.10% across a selection of its fixed rate deals.

N&P cuts rates on 85% LTV deals by 0.3%

12 May 2011

Norwich & Peterborough Building Society reducing rates by up to 0.3% on its range of 85% LTV fixed rate mortgages.

CML predicts end of lenders’ open conveyancer panels

12 May 2011

Lenders will no longer have open panels for conveyancers, according to Michael Coogan, director-general of the Council of Mortgage Lenders.

Buy-to-let lending falls in Q1 2011

12 May 2011

Gross buy-to-let mortgage lending fell by 3.5% in Q1 2011 compared to Q4 2010, according to figures from the Council of Mortgage Lenders.

Skipton launches B2L range up to 70% LTV

10 May 2011

Skipton Building Society has enhanced its range of buy-to-let mortgages with a number of new products available up to 70% LTV.

Supply of property increased in April

10 May 2011

Supply of property increased during April, as sellers returned to test the spring housing market, the latest UK Housing Market survey from the Royal Institution of Chartered Surveyors shows.

Buy-to-let borrowers at greater risk of negative equity

10 May 2011

Even mild declines in house prices over the next two years could place over 30% of buy-to-let borrowers in negative equity, Standard & Poor’s has warned.

TBMC launches exclusive with Hinckley & Rugby BS

10 May 2011

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

Average 90% LTV mortgage rate falls below 6.00%

9 May 2011

The average rate for a 90% LTV mortgage has fallen below 6.00% for the first time since March 2008, research from Moneyfacts.co.uk shows.

Bridgewater launches sales aid for advisers

9 May 2011

Bridgewater Equity Release is launching a sales aid for advisers outlining the reasons why one of its home reversion plans may be a suitable form of equity release for a client.

Paradigm adds Lloyds TSB Scotland Spearhead to panel

9 May 2011

Paradigm Mortgage Services has added Lloyds TSB Scotland Spearhead Mortgages to the lender panel of Paradigm Financial Advisers.

65% of DAs believe advice fees becoming more important

9 May 2011

The majority of directly authorised brokers believe there has been a shift in the reward structure, with fees for advice becoming more important, The Mortgage Alliance’s April Distribution Indicator reveals.

Phoebus appoints new director of sales

9 May 2011

Phoebus Software has appointed Richard Pike as director of sales.

EMF throws doubt on EU directive's claims

9 May 2011

The European Mortgage Federation has questioned the effectiveness of the European Commission’s mortgage directive.

Lenders show no inclination to halt steady slide in mortgage approvals

9 May 2011

Lenders are not predicting an upturn in mortgage business in the coming months, the latest Trends In Lending report from the Bank of England reveals.

No contest

9 May 2011

One of the greatest casualties of the downturn has been competition, as lenders have consolidated or gone under. The market is now dominated by a few key players with smaller firms struggling to keep up

Conveyancing Association welcomes CML focus on fraud

6 May 2011

The Conveyancing Association has welcomed the Council of Mortgage Lenders’ focus on tackling mortgage fraud and conveyancer negligence in its annual report.

Mutuals dominate shortlist for most trusted mortgage provider

6 May 2011

Building societies have dominated a shortlist of the most trusted mortgage providers in the UK compiled by Moneywise.

Expectations for commercial rents continue to fall

6 May 2011

Expectations for commercial property rents fell for the 14th consecutive quarter in Q1 2011, the latest Royal Institution of Chartered Surveyors UK Commercial Market Survey shows.

Leeds reduces two-year discount rate

5 May 2011

Leeds Building Society has reduced the rate on its two-year discount mortgage to 3.05%, down from 3.20%.

Interest rates kept on hold at 0.5%

5 May 2011

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

BSA elects new chairman

5 May 2011

The Building Societies Association has elected Peter Griffiths, chief executive of Principality Building Society, as its chairman for 2011/12.

Yorkshire BS calls for re-mutualisation of Northern Rock

5 May 2011

Yorkshire Building Society has called for Northern Rock to be re-mutualised, claiming this would help improve competition in the banking industry.

TBMC launches 80% LTV exclusive with Chorley BS

4 May 2011

TBMC has launched an 80% LTV buy-to-let deal exclusively with Chorley Building Society.

Ingard adds Precise to lender panel

4 May 2011

Essex-based AR network Ingard has added Precise Mortgages to its lender panel.

Mortgage approvals up marginally in March

4 May 2011

The number of mortgage approvals for house purchase increased slightly in March to reach 47,557, data from the Bank of England shows.

House prices fall by 0.2% in April

4 May 2011

The average house price fell by 0.2% in April to reach £165,609, according to Nationwide’s monthly house price index.

Bank holidays blamed for drop in house sales in April

3 May 2011

House sales fell by 3.6% in April compared to March, according to the latest Agency Express Property Activity Index.

Lack of supply reducing housing affordability in EU markets

3 May 2011

Housing supply has been unresponsive to demand in most EU markets, says Christophe Andre of the Organisation for Economic Co-operation and Development.

Average FTB spends 3.3 years saving for a deposit

3 May 2011

The average first-time buyer expects to spend 3.3 years saving for a deposit for their first home, research from Santander Mortgages reveals.

A third of Britons predict summer rate hike

3 May 2011

Almost a third (32%) of consumers predict the Bank of England base rate will increase this summer, research from Lloyds TSB shows.

60 Seconds with...James Bawa

2 May 2011

Lending slide blamed on remortgage slump

2 May 2011

The slump in gross lending in March has been blamed on a 7% fall in remortgage approvals.

Majority of economists tip August for the first increase in base rate

2 May 2011

A poll of top economists last week revealed that the majority believe the earliest the base rate will rise is August.

Tenant demand up 51% in Q1

28 Apr 2011

Demand for rented property from tenants increased by 51% in Q1 2011 on Q4 2010’s figure, reports Countrywide.

Barclays pre-tax profits down 9%

27 Apr 2011

Barclays pre-tax profits fell by 9% in Q1 2011 compared to Q1 2010, the bank’s interim management statement shows.

GDP up 0.5% in Q1

27 Apr 2011

The UK’s gross domestic product rose by 0.5% in Q1 2011, following a fall of 0.5% in Q4 2010.

Gross mortgage lending down 11% annually in March

27 Apr 2011

The banks’ gross mortgage lending was £7.7bn in March, 11% lower than March 2010 and slightly down on the recent six month average of £7.9bn, data from the British Bankers’ Association shows.

ING Direct launches with Sesame

26 Apr 2011

Sesame has announced it is delighted to launch with lender ING Direct.

Lloyds to refurbish property assets with Grainger

26 Apr 2011

Lloyds Banking Group is to partner with residential landlord Grainger in order to restore the value of thousands of non-performing mortgages.

Lloyds ‘poised to sell Scottish Widows insurance arm’

26 Apr 2011

Lloyds Banking Group is preparing to sell its Scottish Widows insurance business as part of an overhaul planned by new chief executive Antonio Horta-Osorio.

21% Jump in lending is no cause for celebration

25 April 2011

Industry commentators have cautioned against an over-enthusiastic response to Council of Mortgage Lenders figures showing mortgage lending rose 21% in March.

Four banned for false mortgage applications

25 April 2011

The Financial Services Authority has banned four brokers and imposed fines totalling £450,000 for using false and misleading information to secure mortgages.

Brokers choose charities for debt advice

21 Apr 2011

Almost 70% of intermediaries would prefer to introduce their client to a debt charity than to a for-profit organisation for debt advice, a survey carried out by Debt Support Trust reveals.

B2L investors replacing FTBs, says Assetz

21 Apr 2011

Buy-to-let investors with large cash deposits are replacing first-time buyers as risk-averse lenders return to the buy-to-let sector, claims Assetz.

CHL arrears down 45% year-on-year

21 Apr 2011

CHL Mortgages has revealed its arrears levels across its buy-to-let mortgage book are back to 2008 levels.

Barclays cuts mortgage rates

20 Apr 2011

Barclays will tomorrow cut rates on its Woolwich tracker and fixed rate mortgages by up to 0.32%.

Yorkshire and N&P announce merger

20 Apr 2011

The boards of Yorkshire Building Society and Norwich & Peterborough Building Society have announced today that they have agreed the terms of a proposed merger.

AMI: arrears will rise with unemployment

19 Apr 2011

The number of people in long-term mortgage arrears is likely to increase in line with predicted rises in unemployment and interest rates, warns the Association of Mortgage Intermediaries in its latest Quarterly Economic Bulletin.

House prices up marginally in Q1 2011

19 Apr 2011

The average UK house price increased by 0.67% in Q1 of 2011 to reach £197,153, according to Azzetz House Price Watch.

Paradigm teams up with The Debt Advisor

19 Apr 2011

Paradigm Mortgage Services has formed a partnership with The Debt Advisor, under which its members will be able to refer clients to the debt advice service.

Conveyancers urged to tackle mortgage fraud

18 Apr 2011

Conveyancers need to do more to tackle mortgage fraud if they wish to remain on lenders’ panels, claims Eddie Goldsmith, chairman of the Conveyancing Association.

Countrywide acquires four rental businesses in Q1

18 Apr 2011

Countrywide acquired four rental businesses in Q1 of 2011 as part of its continued expansion plans.

FTB drought is not lenders' fault

18 April 2011

Lenders are not to blame for the lack of first-time buyers, says Matthew Wyles, group distribution director at Nationwide.

March brings a surprise drop in inflation to 4%

18 April 2011

Inflation fell unexpectedly last month, easing pressure on the Bank of England to raise the base rate.

Lloyds increases interest-only loan cap to £1m

15 Apr 2011

Lloyds Banking Group has increased the maximum loan amount on interest-only deals taken out in branch from £500,000 to £1m.

Rents rose again in March

15 Apr 2011

Rents increased for the second consecutive month in March, up by 0.4% to reach £687 per month, the latest Buy-to-Let Index from LSL Property Services shows.

Residential valuations up 7% year-on-year in March

13 Apr 2011

Residential mortgage valuations increased by 7% year-on-year in March, research by Connells Survey and Valuation reveals.

Financial services fraud up 11% in 2010

13 Apr 2011

Fraud attempts against financial services providers increased by 11% in 2010, a report from Experian reveals.

CML Northern Ireland appoints chairman

12 Apr 2011

The Council of Mortgage Lenders Northern Ireland has appointed Derek Wilson, head of lending products at Ulster Bank, as its new chairman.

Demand for property dipped slightly in March

12 Apr 2011

The UK housing market remained flat in March, with demand for property falling slightly and sales levels staying low, the latest UK Housing Market survey from the Royal Institution of Chartered Surveyors shows.

Brilliant launches fixed rate deals with Newcastle BS

11 Apr 2011

Brilliant Solutions has launched a series of fixed rate deals with Newcastle Building Society.

Ipswich BS launches e-mortgage service

11 Apr 2011

Ipswich Building Society has launched an e-mortgage service for intermediaries that aims to give them greater flexibility over their applications.

Mansion tax will never happen, says property lawyer

11 Apr 2011

The so-called ‘mansion tax’ on properties over £1m would be impossible to enforce and will never come to fruition, says a property lawyer.

22% of homeowners unaware of rate rise impact

11 Apr 2011

22% of homeowners do not know what would happen to their monthly mortgage payments if the base rate was to rise, research from unbiased.co.uk shows.

ICB proposes ring-fencing retail banking

11 Apr 2011

The Independent Commission on Banking is considering ring-fencing the retail operations of UK banks, it says in its interim report published today.

60 seconds with...Nigel Stockton

11 April 2011

Financial Services Director, Countrywide

Complete FS adds Precise to lending panel

8 Apr 2011

Southampton-based distributor and packager Complete FS has added Precise Mortgages to its lending panel.

Mortgage lending up 8% in February

8 Apr 2011

Mortgage lending increased slightly in February following a particularly lacklustre January, data from the Council of Mortgage Lenders shows.

Unisys to process Northern Rock Asset Management accounts

7 Apr 2011

Unisys Corporation has signed a contract with Northern Rock Asset Management that will see it process some 400,000 mortgage accounts held by the firm.

Leeds BS launches 2-year discount mortgage at 2.85%

7 Apr 2011

Leeds Building Society has launched a two-year discount mortgage at 2.85% available up to 75% loan-to-value.

40% of suitable borrowers not offered offset by advisers

6 Apr 2011

Up to 10 million homeowners may be missing out on making the most of their savings with an offset mortgage, Yorkshire Building Society claims.

Aldermore increases deposits by 176% in last year

5 Apr 2011

Aldermore has increased deposits by 176% in the last year, from £229.6m at the end of 2009 to £633.6m at the end of 2010.

Brokers not engaging in regulatory debate, says CML

5 Apr 2011

The Council of Mortgage Lenders has claimed intermediaries are not engaging in the regulatory debate, following research that shows 92% of brokers had not responded to the Financial Services Authority or other trade body on its Distribution and Disclosure proposals.

CML urges conveyancers to join CQS

4 Apr 2011

Conveyancers are being urged to join the Law Society’s Conveyancing Quality Scheme amid warnings accreditation will soon become a standard expectation.

Treasury report calls for more competition in retail banking

4 Apr 2011

The level of competition in the retail banking sector is inadequate and further measures are required to promote both competition and improved consumer outcomes, a Treasury Select Committee report has concluded.

House sales fall 47% in 3 years

4 Apr 2011

Property sales have almost halved in the last three years amid a widening north-south divide, research by Lloyds TSB reveals.

Grant Shapps supports rent-to-buy scheme

4 Apr 2011

A new rent-to-buy property website has met with the approval of housing minister Grant Shapps.

Aldermore launches limited edition discount rate deal

4 Apr 2011

Aldermore has today launched a limited edition residential mortgage at 3.48% on a two-year discount rate.

Paradigm urges lenders to develop innovative FTB schemes

4 Apr 2011

Lenders need to develop innovative first-time buyer schemes for those who are not eligible for the government’s new FirstBuy initiative, according to Paradigm Mortgage Services.

Lenders may be forced to provide information only

4 April 2011

Lenders may no longer be able to offer advised sales under proposals announced by the European Commission last week.

EC: Remuneration schemes can lead to mortgage defaults

31 Mar 2011

Establishing principles-based standards for remuneration would tackle schemes that can cause consumer detriment and mortgage defaults, the European Commission Directive says.

BoE reports unexpected rise in mortgage defaults

31 Mar 2011

The default rate on mortgages increased unexpectedly in the first quarter of 2011, compared to the previous three months, the Bank of England’s latest Credit Conditions Survey says.

EC: Credit assessments must include all repayment factors

31 Mar 2011

Assessments of creditworthiness should take into consideration all factors that could influence a borrower’s repayment capability over the lifetime of the loan, the European Commission has announced today.

PMS selects Mortgage Brain as sourcing solution

31 Mar 2011

PMS has chosen All New Mortgage Brain as one of its preferred mortgage sourcing solutions.

Paradigm adds Aldermore to lender panels

31 Mar 2011

Paradigm Mortgage Services has added Aldermore to its lender panel for directly authorised firms and appointed representatives.

Changing regulations biggest challenge for IFAs

30 Mar 2011

Independent financial advisers have identified changing regulations as the biggest challenge facing their businesses, according to research from Aviva.

FSA shows its teeth with probe of rent-back firm

28 March 2011

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

Rock securitisation may indicate start of many such deals this year

28 March 2011

Northern Rock plc’s £370m launch back into the securitisation market could herald an increase in secu-ritisation transactions this year.

Cambridge BS plans to increase intermediary lending

25 Mar 2011

Cambridge Building Society has unveiled plans to increase its mortgage lending this year as part of a relaunch that includes the introduction of an online system for intermediaries.

Northern Rock makes further cuts to Everyday rates

25 Mar 2011

Northern Rock has further cut rates across its Everyday product range with effect from today, just ten days after its last round of rate reductions.

Borro joins NACFB as lender patron

24 Mar 2011

Short-term asset lender Borro has joined the National Association of Commercial Finance Brokers as a lender patron.

Sesame generated £5m profits in 2010

24 Mar 2011

Sesame Bankhall generated operating profits of £5m in 2010, compared to £3m in 2009, parent group Resolution’s results have revealed.

51% of brokers predict increase in new landlords this year

24 Mar 2011

The majority of brokers believe the number of new landlords will rise this year and existing landlords will increase or hold onto their stock, research from The Mortgage Works shows.

BUDGET 2011: High-value property owners will pay fair share in tax

23 Mar 2011

Owners of high-value properties will be made to pay their fair share in tax, chancellor George Osborne says in the Budget.

No new MPC members voted for rate rise in March

23 Mar 2011

Three members of the Monetary Policy Committee voted for a rise in the Bank of England base rate in March, the same number of alternative votes as in February.

Holloway Friendly launches income protection plan for brokers

22 Mar 2011

Holloway Friendly has launched an income protection plan tailored specifically for mortgage advisers to sell to their clients.

OpenConvey teams up with Brilliant Solutions

21 Mar 2011

Online conveyancing portal OpenConvey has joined forces with Brilliant Solutions to expand the reach of its white-labelled conveyancing engine.

UKAR eyes up outsourced mortgage services role

21 Mar 2011

UK Asset Resolution is setting its sights on offering back-office services to mortgage lenders, according to people with knowledge of the firm.

Abbey edges out Lloyds as top intermediary lender

21 Mar 2011

Abbey for Intermediaries is believed to have overtaken Lloyds Banking Group as the largest intermediary lender.

Brokers lukewarm towards Lloyds' council scheme for first-time buyers

21 March 2011

A scheme launched by Lloyds TSB that allows local authorities to help first-time buyers get on the property ladder with a 5% deposit has rec-eived a tepid response from brokers.

Saffron BS continues to increase mortgage lending in 2011

18 Mar 2011

Saffron Building Society has continued to expand its mortgage lending into 2011, it has revealed.

L&G club launches deals up to 90% LTV with Cambridge BS

18 Mar 2011

Legal & General Mortgage Club has launched a range of fixed rate exclusive products up to 90% loan-to-value with Cambridge Building Society.

Rents rise by 0.2% in February

18 Mar 2011

Average rents rose by 0.2% in February, following falls in the previous two months, according to LSL Property Services’ latest Buy-to-let Index.

OneSavings Bank appoints Jeremy Wood as interim CEO

18 Mar 2011

OneSavings Bank Plc has appointed Jeremy Wood as interim chief executive officer.

Banks served subpoenas in Libor probe

17 Mar 2011

US regulators have served subpoenas to four global banks as part of an investigation into the alleged manipulation of the London interbank offered rate.

Nationwide launches five-year fix at 4.39%

16 Mar 2011

Nationwide has launched a five-year fixed rate deal at 4.39% up to 70% loan-to-value, as part of a number of product changes.

Resolution regimes may not prevent a future banking crisis, says S&P

16 Mar 2011

Banking crises are very likely to happen again and resolution regimes may not to enough to prevent them from occurring, claims Standard & Poor’s.

76% of DAs say rate rise would increase remortgage business

16 Mar 2011

The majority of directly authorised intermediaries expect a potential rise in the Bank of England base rate to have a positive impact on remortgage business, The Mortgage Alliance’s February Distribution Indicator reveals.

Just 10% of homeowners overpaying on their mortgage

16 Mar 2011

Only 10% of homeowners are currently overpaying on their mortgage, research by Barclays shows.

Lynne Peacock steps down as CEO of Clydesdale and Yorkshire Banks

15 Mar 2011

Lynne Peacock is to step down as the boss of Clydesdale and Yorkshire Banks after seven years as UK chief executive officer of National Australia Bank.

Northern Rock updates residential products

15 Mar 2011

Northern Rock has made rate changes to a number of its residential products, with effect from today.

30% of people likely to move this year

15 Mar 2011

The number of people who believe they will buy property over the next 12 months has fallen from 37% in 2010 to 30% in 2011, according to Legal & General’s Moving Intentions Survey.

Cheval doubles proc fees and cuts rates

15 Mar 2011

Cheval has reduced interest rates and doubled broker procuration fees across its range of bridging products.

Leeds BS launches three-year fix

14 Mar 2011

Leeds Building Society has launched what it claims to be the only three-year non-locked-in fixed rate mortgage product in the market.

Mortgage applications rose 40% in February

14 Mar 2011

The number of mortgage applications received by Countrywide’s 650 mortgage consultants increased by 40% in February.

Snow and cuts cause January fall

14 March 2011

A combination of poor weather and economic uncertainty is to blame for the 26% monthly fall in house purchase lending in January, the Council of Mortgage Lenders claims.

Tracker rates drop to lowest level in 22 years

14 March 2011

Two-year tracker rates are at their lowest level since 1988 which brokers believe could tempt more borrowers to opt for tracker mortgages.

First 4 Bridging launches exclusive product

11 Mar 2011

First 4 Bridging has launched an exclusive first charge product at 0.99% per month up to 70% loan-to-value.

S&P predicts moderate earnings growth for UK banks this year

10 Mar 2011

UK banks will experience moderate underlying earnings growth this year, predicts Standard & Poor’s.

Paymentcare launches buildings and contents insurance

10 Mar 2011

Paymentcare.co.uk has launched a buildings and contents insurance policy, as well as an online quotation system.

90% of mortgage borrowers on variable rate, says L&G

9 Mar 2011

Legal & General Investment Management has claimed 90% of UK mortgages are on a variable rate, a figure that far exceeds other estimates.

Regional variation in housing market widens

8 Mar 2011

The housing market became further characterised by regional variation last month, the latest Royal Institute of Chartered Surveyors UK Housing Market survey shows.

Tiuta reduces bridging rates

7 Mar 2011

Tiuta has reduced its bridging interest rates by up to 0.4% on loans with an LTV of between 60% and 75% on an open market valuation for properties in England and Wales.

CHL retains top honour in Best Companies Accreditation

7 Mar 2011

CHL Mortgages has received the Three Star Status Award in the Best Companies Accreditation for 2011, in recognition of being one of the best organisations to work for.

Brokers relieved MMR changes will not be brought in before next year

7 March 2011

A declaration from the Financial Services Authority confirming that rule changes from the Mortgage Market Review will not be imple-mented before 2012 has been wel-comed by brokers.

Ray Boulger criticises house price index inconsistencies

4 Mar 2011

Ray Boulger, senior technical manager at John Charcol, has claimed seasonal adjustments are seriously distorting the way house price statistics are reported.

Chadney Bulgin acquires pensions specialist firm

3 Mar 2011

Chadney Bulgin has completed the acquisition of pensions specialist Pensions and Wealth Planning.

Y3S Group becomes key partner of Drawbridge Finance

3 Mar 2011

Cardiff-based packager Y3S Group has become the latest key partner of Drawbridge Finance.

PMS teams up with Promise Solutions

2 Mar 2011

PMS has joined forces with Promise Solutions to offer advisers and their clients access to a range of secured loan services.

Paradigm urges advisers to beat remortgage rush

2 Mar 2011

Paradigm Mortgage Services is urging mortgage advisers to contact potential remortgage clients now, ahead of a rise in the Bank of England base rate and the surge in demand this is likely to bring.

Conti joins forces with Paymentshield Mortgage Club

2 Mar 2011

Overseas specialist Conti has teamed up with Paymentshield Mortgage Club to provide a referral service for overseas mortgages.

Crown names Andrew Doyle as finance director

1 Mar 2011

Crown Mortgage Management has appointed Andrew Doyle as finance director as part of a continued drive to strengthen its management team.

Mutuals’ gross lending up 38% year-on-year

1 Mar 2011

Gross mortgage lending by mutuals was £1.4bn in January, which is 38% greater than the £1bn figure for January 2010.

Mortgage affordability hits best level in 10 years

28 Feb 2011

Mortgage affordability has reached its best level in 10 years, according to research from Barclays.

Spicerhaart appoints Apprentice finalist

28 Feb 2011

The Spicerhaart Group has appointed former Apprentice finalist Kristina Grimes as business development director for Spicerhaart Corporate Sales and MustbeSold.com.

Northern Rock launches 90% LTV fixed rate deals from 5.99%

28 Feb 2011

Northern Rock is launching a new range of Everyday mortgages available up to 90% loan-to-value.

DB Mortgages fine could be first of many for irresponsible lending

28 February 2011

FAHIM ANTONIADES: MORE LENDERS WILL BE IN FIRING LINE

Which? uncovers poor advice given by rent-back firms

28 February 2011

PETE THOMSON: FSA IS DOINGA GOOD JOB

Shepherd & West warns consumers on mis-sold insurance policies

25 Feb 2011

Shepherd & West has urged consumers to be wary of terms and conditions when using claims management companies.

MMR proposals go too far, says CML

25 Feb 2011

The Council of Mortgage Lenders has urged the Financial Services Authority to undertake a new consultation on all related policy proposals of its Mortgage Market Review.

Openwork appoints two development directors

24 Feb 2011

Openwork has appointed two national development directors in a bid to further boost its scale in the run up to the Retail Distribution Review.

20% of Brits saving for a deposit

23 Feb 2011

Of the 80% of Britons who save each month, 20% are putting money aside for a deposit, according to research from Confused.com.

Million-pound property sales increase by 58% in 2010

23 Feb 2011

Sales of properties worth £1m or more increased significantly last year, analysis from Largemortgageloans.com shows.

Cavere Insurance teams up with Jump Money

22 Feb 2011

Cavere Insurance has collaborated with Jump Money to develop a suite of fully white-labelled policies aimed at protecting home owners.

Which? reports two sale-and-rent-back firms to FSA

22 Feb 2011

Which? Money has reported two sale-and-rent-back companies to the Financial Services Authority after an investigation by the consumer watchdog uncovered inadequate advice in the SRB market.

Promise Solutions increases loan commissions for introducers

18 Feb 2011

Promise Solutions is set to increase the commissions it pays to introducers on Blemain loans.

Halifax reduces its rates for the second time in two weeks

17 Feb 2011

Halifax Intermediaries is to make alterations and rate reductions to its new business product range, its second set of price changes in two weeks.

CPMA to be given power to ban products

17 Feb 2011

The Consumer Protection and Markets Authority will be given powers to ban retail products when the Financial Services Authority is disbanded in 2012.