State Securities is extending the maximum terms of its commercial mortgage range as part of its continued growth strategy.The extension means commercial mortgages will be available over a term of up to 25 years, giving borrowers the option to reduce their monthly repayments by spreading them over a longer loan term.
GMAC-RFC has launched a cascade service covering mortgages in the mainstream, self-cert, buy-to-let and sub-prime sectors. Research by the lender suggests some 15% of mainstream deals and 20% of self-cert mortgage applications are initially declined. A quarter of mainstream declines and one-third of self-cert declines are due to adverse credit, highlighting the need for a […]
Gross mortgage lending increased by 4.3% to an estimated 28.1bn in September, up from 26.9bn in August, according to the latest data from the Council of Mortgage Lenders. This figure is one of the highest monthly lending figures on record, and 11% more than the 25.3bn of lending in September 2004.CML say that since the […]
Obtaining Key Facts Illustrations from lenders is the most significant problem intermediaries face since regulation, brokers taking part in the Association of Mortgage Intermediaries September Mortgage Intermediary Census have stated. Firms responding to the census also highlighted the cost of compliance as a direct threat to business.Previous census results have shown that the majority of […]
GMAC Commercial Mortgage Europe has appointed Steve Machin as vice president of the UK real estate finance team, based in Norfolk House, St. James Square. Machin, who joins GMAC-CM Europe from RBS Structured Property Finance, will report to Kevin Cooper, managing director, UK Real Estate Finance. His appointment closely follows the recruitment by GMAC-CM Europe […]
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
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