Devraj Ray



The Mortgage Mole: Monty’s Monkeys

Monty’s Monkeys  Did Mole ever tell you he is a highly successful talent spotter for the music industry? No? Well, that is because he is not.  But he has a good feeling that Rogue Monkey, the band led by global hyper-megastar-to-be Andrew Montlake, will be the next big thing. Montlake, Coreco’s comms guru, has dusted […]


60 Seconds with… Richard Deacon, sales & marketing director, Masthaven Bridging Finance

Having previously worked for a mainstream lender, What has been most different about bridging? The standout difference is the transparency and flexibility of the bridging market. I am going through the mortgage process now as I purchase a new home and using a mainstream high-street bank is like pulling teeth, trying to talk to underwriters […]


Aldermore shares up 17% since IPO

Shares in Aldermore Group have jumped 17 per cent since conditonal trading opened on Tuesday. Trading opened to institutional investors on 10 March at an initial price of 192p per share. Following the completion of the IPO this morning retail investors can now purchase shares in the challenger bank, which have risen 17 per cent […]


Leeds begins accepting Help to Buy remortgage apps

Leeds Building Society has started accepting remortgage borrowers on its Help to Buy equity loan borrowers. The range includes a two-year discount at 1.99 per cent as well as a two-year fix at 2.34 per cent. A five-year fixed rate is available at 2.99 per cent. Remortgage borrowers can retain the existing loan size, subject […]


Shawbrook Bank to float in April

Shawbrook Bank will float on the London Stock Exchange next month. It is reportedly hoping to achieve a £1bn valuation and to raise around £90m through the listing. However, the bank says it has not finalised the details. Shawbrook chairman George Mathewson, formerly chair of Royal Bank of Scotland, will oversee the IPO process. He […]


Precise completes £205m securitisation

Precise Mortgages has launched a £205m securitisation – its fourth issue. Ratings agency Fitch says 53 per cent of the loans are classed as prime buy-to-let loans, with the remaining 47 per cent classed as near-prime residential or buy-to-let loans. Precise Mortgages managing director Alan Cleary says: “Having a diversified funding model enables us to […]


Permanent TSB begins CHL sell-off

A US-based private equity firm has purchased 50 per cent of Capital Home Loans’ book from parent company Permanent TSB. Cerberus Capital LP will acquire £2.5bn of the dormant lender’s book as well as the legal entity Capital Home Loans and its servicing platform for an undisclosed sum. The remaining CHL loans will be sold […]


Brokers predict return of 100% LTV deals by end of year

Brokers expect the return of standard 100 per cent LTV mortgages this year for the first time since the financial crisis. Since 2008, the number of 100 per cent LTV deals has shrunk dramatically and the few that remain are reserved for borrowers with a family member willing to act as a guarantor or for […]


BSA repeats call for Cabinet-based housing minister

The Building Societies Association has written to Chancellor George Osborne to reiterate its calls for the housing minister to be appointed to the Cabinet. In the letter, which was sent last week, BSA chief executive Robin Fieth urged the Chancellor to take “urgent and concerted action” to help UK homebuyers, in particular younger first-time buyers, […]


The Mortgage Mole: Shaken, not stirred

Shaken, not stirred This week, Mole is calling on our readers to throw their best suggestions in the hat for a mortgage-related cocktail. As Fleet Mortgages chief executive Bob Young sat down at the Hix bar last week, his eye was drawn to the cocktail of the day, which happened to be called The Terrington, […]