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.
Estate agents can breath a sigh of relief as the number of house hunters on their books improves.
The Financial Services Authority has banned a mortgage broker based in Northern Ireland for failing to prevent mortgage fraud.
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.”
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 […]
Fiona Tait takes a closer look at the Department for Work & Pensions’ forthcoming review of automatic enrolment In December, pensions minister Richard Harrington announced the scope of the DWP’s forthcoming review of automatic enrolment (AE). The review will look at AE coverage, as well as the current thresholds and age criteria. In other words: […]
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