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Rumours over RBS rights issue

The Royal Bank of Scotland is rumoured to be preparing a rights issue for up to £12bn to bring its capital holdings up to the European average. Last week the lender’s broker arm RBS Intermediary Partners launched a two-year fixed rate product at 6.195% with a £999 arrangement fee.

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FSA bans NI mortgage broker

The Financial Services Authority has banned a mortgage broker based in Northern Ireland for failing to prevent mortgage fraud.

Future stays in secured loans

Future Mortgages has decided to stay in the secured loans market and is accepting cases again. Ian Warrilow, head of secured lending at Future, says: “We are back to where we were and accepting applications.”

Landlords could flee London

Fitch Ratings is warning that the heavy presence of buy-to-let borrowers in urban centres could trigger a deterioration in the wider market.In a two-part report entitled Demystifying UK buy-to-let, Fitch says the strong concentration of buy-to-let mortgages in cities could contribute to destabilisation in the market.It says if investors lose con-fidence and sell off properties […]

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