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Landlords still in the dark about PRA changes, warns NLA

The National Landlords Association has hit out at brokers and lenders for failing to do enough to communicate changes by the Prudential Regulation Authority, after a survey found many buy-to-let borrowers remain in the dark about the new regime. The NLA says that despite the significant regulatory changes to lending criteria and the application process […]

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Leeds reduces buy-to-let rates

Leeds Building Society is the latest lender to reduce the cost of its fixed-rate buy-to-let mortgages. The building society said it was reducing these deals as it anticipated landlords would be remortgaging, ahead of an expected rise in interest rates this summer. The society has cut the cost of its ‘no fee’ two- and five-year […]

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Coventry BS hires non-executive director from FCA

Coventry Building Society has appointed a Financial Conduct Authority committee member to its board, as a non-executive director. Iraj Amiri is currently a member of the FCA’s Regulatory Decisions Committee. Amiri is a chartered accountant and has worked for a number of financial services companies, including Deloitte and Schroders. He has experience of working in […]

Bank of Ireland opens new build loans to all brokers

Bank of Ireland UK is opening up its new build mortgages to all brokers following a successful pilot. From today, new build mortgages will be available to all brokers registered to submit business with Bank of Ireland for Intermediaries. The proposition includes the Help to Buy: Equity Loan scheme and will be launching in England, […]

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Million-pound mortgage fraudster jailed after blaming broker

A nightclub owner and yacht designer has been jailed for mortgage fraud after first trying to blame his broker. Arthur Wilder was sentenced to three years in prison at Hull Crown Court this week for falsifying his income on mortgage applications despite having claimed that his brokers had done so without his knowledge. The Hull […]

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Tenants lose £22m to rental fraud in four years

Tenants have lost more than £22 million to fake landlords and other rental fraudsters since 2014, official figures show. Between 1 April 2014 and 31 March 2018, 18,645 reports of rental scams were made to Action Fraud meaning that victims lost an average of £1,396 each. Action Fraud is now warning potential tenants, and students in particular, […]