View more on these topics

CML figures sign market still strong, says The MarketPlace

CML figures showing a 19.5% increase in March show the mortgage market is still strong and not deflating in 2004, says The MarketPlace.

Elliot Nathan, mortgage development manager for The MarketPlace at Bradford & Bingley, says: “It is encouraging to see that the proportion of first time buyers is increasing, albeit at a very moderate pace.

“Accounting for 31% of the total lending, the figure is still lower than its historical norm of 40-45%, but at least it is heading in the right direction. It is also worth bearing in mind that in terms of actual numbers, 34,000 entered the market this March compared with only 30,000 at the same time last year. This is an encouraging increase of 13%.”

“The high proportion of lending on variable rates, nearly three-quarters of all lending, clearly demonstrates that price is still the key driver in the market. When the gap between fixed rate and variable rate pricing is narrow, then borrowers normally opt for the security that a fixed rate offers.

“However, when the gap increases and fixed rates become more expensive as they have been for the whole of this year variables become the product of choice. Even, the expectation that interest rates may rise further over the coming months has done little to persuade borrowers to protect their monthly payments with a fixed rate deal.”


Banking-Insurance Sevices appoints general manager

Banking-Insurance Services Limited has appointed Paul Bennington as general manager for administration and compliance. Bennington, former managing director of BISL, has been asked by the board to spearhead the development of its lead generation and appointed representative solution. This is the first appointment resulting from a reshuffle of responsibilities and further appointments which will be […]

A&L streamlines online application system

Alliance & Leicester has streamlined its online application system to simplify and speed up the mortgage application process for mortgage intermediaries. From April 20, A&L says its paper-based application, used in conjunction with online submissions, will be replaced by a more simple customer declaration document which needs to be returned prior to completion. Merhdad Yousefi, […]

Banco Halifax Hispania reduces rates on Spanish mortgages

Banco Halifax Hispania, the Spanish arm of Halifax, has today reduced the interest rate charged on its Spanish mortgages. The company says that while the UK&#39s mortgage rate has been rising, the situation in Spain is very different. The new rates are 3.05% for loans below 60% of the valuation of the property and 3.30% […]

Clydesdale targets brokers with two-year fixes

Clydesdale Bank makes its first big push into the intermediary market this week with the launch of a selection of two-year fixes exclusive to Charcol. The vanilla deal is available to all borrowers and is fixed at 4.49% (5.7% APR). There is also a remortgage deal fixed at 4.69% with free valuation and free legals. […]

In Focus image

In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


News and expert analysis straight to your inbox

Sign up