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Coventry for Intermediaries targets contractors

Coventry for Intermediaries has changed its lending policy to make borrowing for daily rate contractors easier. Its lending policy asks for a minimum earning requirement of £50,000, for the would-be borrower to show evidence of having 12 months’ experience in the same line of work and to have at least six months remaining on their […]

BoE relaxed over proportion of high-LTV borrowers

The Bank of England’s executive director for stability and risk Alex Brazier has stated that the growth in high-LTV lending holds little cause for concern. In a speech focusing on the UK’s financial resilience given at the University of Warwick, Brazier highlighted three areas of debt that the bank has identified as indicators of underlying […]

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Age limits top broker searches in May: Knowledge Bank

More brokers searched to find details of lenders’ age restrictions on borrowers than any other aspect of criteria during May, the latest figures from Knowledge Bank show. The most popular search category was “maximum age at end of mortgage term”, while “maximum age at application” was in third place, suggesting that the challenges facing older […]

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Housing market steadies in May: RICS

The property market showed signs of stabilising in May as new buyer enquiries held steady and other measures improved, according to the Royal Institution of Chartered Surveyors. Its latest findings show that the downward movements in the number of sales agreed, new instructions and prices paid that its members have reported in recent months seem […]