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DB launches fixed and tracker deals

DB Mortgages has launched a series of two-year trackers and two and three-year fixed rates. The two-year fixes start at 6.05% with an early repayment charge of 6% and the three-year fixes start at 5.95% with an ERC of 6% in the first three years.

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The HBOS iron fist loses its grip

A pre-close trading statement from HBOS reveals that the lending giant’s retention scheme has not delivered the anticipated results.As a result its mortgage market share has slipped. The group says it expects to deliver a robust financial performance in 2007.In retail, HBOS says it continues to enjoy “excellent” growth in savings and banking products whilst […]

Dropping rental cover is a gamble

When specialist lenders create products to cater to hitherto unrecognised niche markets they are increasing their volumes through innovative business practice. And when interest rates rise and volumes dip, lenders are tempted to loosen their criteria to sustain volume.

FISA to seek legal advice over Hurstanger case

The Finance Trading Standards Association is urgently seeking legal advice for its members following the landmark Hurstanger case.The industry is currently holding its breath to see if brokers will be faced with a flood of borrower claims after the case ruled a broker must disclose the amount of any commission it receives.Hurstanger Ltd fell under […]

A bad week for the HIP industry

Borrowers got a reprieve last week with the Bank of England’s decision not raise interest rates in June. The Monetary Policy Committee froze the base rate at 5.5% – and a good job too for many people.

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