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London leads the way in home repossessions

A report from Fitch Ratings reveals London is leading the way when it comes to home repossessions growth.

Although still not at the level seen during the last recession in the early 1990s, repossessions are at their highest since 1996. Twice as many homes are repossessed in London as in the north of England.

Gregg Kohansky, head of Fitch’s UK Regional Repossession Study for England and Wales team, says: “With London seeing reviving house prices, further affordability stretches are likely to support continued high repossession levels in the capital.”


Commercial First gets bond upgrade

Commercial First has had two of its securitised mortgage backed bonds upgraded as part of a performance review of its transactions by ratings agency Fitch Ratings.Mario Schmidt, associate director in Fitchs European structured finance department, says the upgrades “reflect the seasoning and the higher than originally modelled excess spread levels.Commercial Firsts Business Mortgage Finance 1 […]

Rate rise good news for first-timers, says says that the recent interest rate rise to 5.25% could be good news for first-time buyers wanting to get on the property ladder. Paul Holmes, chief executive of, says: “If house price inflation is now arrested as a consequence of three rate rises in quick succession then that is cause for some hope […]

TFC offer free application on sub-prime

TFC Homeloans is now offering free applications and valuations on its sub-prime range.The deal applies to non-conforming products across all lenders, except Future mortgages, that recoup TFC a gross commission of 1.5% and above. For products that dont qualify for the promotion, TFC Homeloans fixed rate 99 application fee still stands, except 100% products, which […]

Two big lenders shun Expo

BM Solutions and Bristol & West will not be participating in this year’s Mortgage Business Expo because they don’t consider it to be good value for money.


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