View more on these topics

GEMHL increases rates on secured range

GE Money Home Lending has dramatically increased its rates across its secured loan products.

First National rates have increased between 1.6% to 3.4% dependent on the plan, with commissions reduced on status 0, 1 and 2 by 0.5%, the completion fee and criteria remain unchanged.

igroup rates have increased between 1.6% and 2.85% dependent on plan, with commissions increased on Xps 0 by 0.25% and reduced on XPS 3 by 0.5%.

With immediate effect all new cases must be submitted on the new rates, GEMHL will honour current pricing on any deals received to its offices by close of business today that are awaiting execution, provided these deals are paid out by close of business on September 23.

Any deals received from September 19 will need to be on the new rates. Any deals currently in the post and that are not received today will be returned.

Any deals not yet submitted will need to be re-offered on the new rates.



Recommended

New-build loans will fail to strengthen property chains

Can’t anyone else see that the government’s proposed 30% interest-free loans for first-time buyers won’t get the market moving? The simple reason is that the scheme will only apply to new-build properties.

Ratings agencies in the spotlight

The International Organisation of Securities Commissions is seeking a global regulatory approach to monitoring the activities of ratings agencies based on its code of conduct. A taskforce will review adherence to the code and report back in January.

Name Shame

Last week The Sun tracked down Freddie Mackie – nicknamed Freddie Mac – in Glasgow and Fannie May – a vowel short of Fannie Mae – amid the dreaming spires of Cambridge.

Call to check software meets TCF

Brokers are being urged to check whether their software systems can provide evidence that they make compliant sales ahead of the looming Treating Customers Fairly deadline.

Tackling the housing crisis will take more than money

The latest housebuilding figures from the Department for Communities & Local Government confirm the worst fears of many within the property industry. We are failing to address the housing shortage in any meaningful way. Let’s look at the number of housing ‘starts’, new housing projects where work has begun. In England, work has been started […]

Newsletter

News and expert analysis straight to your inbox

Sign up