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Highest July lending on record

Gross mortgage lending reached 30.4bn in July – the highest figure ever recorded for the month. The figure was also the second highest on record, says the Council of Mortgage Lenders. Lending in July was 6% below the 32.4bn figure for June, but 19% higher than the 25.5bn seen in the same month last year. But Michael Coogan, director-general of the CML, says: “With the financial markets suggesting at least one more rate rise before the end of the year we expect to see more subdued lending over the coming months.”

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Packagers must give more information about their financial positions

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Interest-only trap could snare FTBs

I’m on holiday enjoying the remote beauty of the Exmoor National Park. One of the perks, but also the pains, of a holiday in the wilds is that it is difficult to get service on your mobile phone or internet connection. Which is why the initial impulse to move out of the urban sprawl and relocate to the peace and quiet of the countryside has quickly worn off.

Lenders must show rates like for like

How does the old poem go about keeping your head when all around you are losing theirs? Despite the rise in the base rate the equity release market stands apart from the mainstream and provides more great news for advisers after the recent rate cut by GE Life which saw its rate fall to 5.95% annual. Not bad for a rate fixed for life when the base rate is at 4.75%.

Platform to sponsor em- birthday celebrations

em- has revealed Platform will be the title sponsor of its upcoming birthday celebrations. The lender will be supporting the events throughout the day and evening of September 22 which will include a roundtable event, exclusive gala dinner and a number of birthday surprises for attendees. This years VIP event is the first of its […]

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