Emma Simon

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BoE defends affordability tests to limit higher value mortgages

Five years after introducing new affordability tests designed to limit the number of higher loan-to-income mortgages, the Bank of England has concluded this has helped prevent a potential increase in highly-indebted households. However, the bank has concluded that while its policy may have been effective, the “vulnerability from indebtedness has not changed markedly since 2014.” […]

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Barclays trims mortgage rates

Barclays is making modest reductions to the cost of its residential and buy-to-let mortgage ranges.  The biggest reductions are on its buy-to-let products. Its two-year fixed-rate buy-to-let loan (at 60 per cent LTV) will see rates cut from 2.28 per cent to 2.21 per cent. This product has no upfront fee and is available to […]

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Cost of buy-to-let loans squeezed

Mortgage costs in the buy-to-let market have started to fall over the last quarter, according to new data from Mortgage Brain. Its quarterly figures show the cost of a two-year buy-to-let tracker (at 60 per cent LTV) is now 3 per cent lower than it was three months ago.  Higher LTV deals have also reduced […]

Coreco appoints Andrew Montlake as new MD

Andrew Montlake (pictured, left) will be the new managing director of Coreco following the announcement that Matt Lowndes will step down from this role.  Lowndes has been managing director of the company for 10 years. However, in recent months he has stepped back from day-to-day management, focusing instead on building and implementing Coreco’s new technology […]

Gvt action needed to boost modern homes construction: MHCLG

The Ministry of Housing, Communities and Local Government must take steps to ensure more properties are built by modern methods of construction if it is to meet its “ambitious” target to build 300,000 new homes annually by the mid-2020s. This was the conclusion of a report by the Housing, Communities Select Committee, which examined the […]

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Advisers urged to consider ‘vulnerability’ of older borrowers

Mortgage and equity release advisers have a duty of care to assess the potential vulnerability of later life clients. The comments were made by TSF Mental capacity assessors founder, Tim Farmer, talking at the National Later Life Adviser Conference.  In recent years there has been a significant rise in the number of older borrowers seeking […]

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Criteria Hub added to Mortgage Intelligence network

Mortgage Intelligence has added Mortgage Brain’s Criteria Hub to the services available to its appointed representatives and directly authorised members.  Criteria Hub has been recently enhanced to offer advisers more critiera choice, as well as the option to highlight specific critiera that are deemed critical or ‘deal-breakers’ for clients. As part of this agreement, network […]

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Leeds BS extends maximum age across mortgage range

Leeds Building Society is extending the maximum borrowing age across its residential mortgage range.  From June 25 the building society will accept applications from borrowers aged up to 85 at the end of their mortgage term.  The minimum mortgage term is five years, so this effectively means Leeds BS will take on new borrowers up […]

Brokers upbeat about prospects in specialist lending markets

Confidence in the specialist mortgage market is increasing, with the vast majority of intermediaries working in this sector buoyant about prospects in the year ahead, according to new research.  Masthaven Bank found that three out of four intermediaries, 73 per cent, were confident about specialist lending opportunities, and almost nine out of 10, 89 per […]