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Place Me addition

Phoenix CPU, the producer of sub-prime mortgage and second charge software, says London Scottish is adding secured loan products to its system.The Place Me system concentrates on sub-prime and secured loans, letting brokers produce comparison information.

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Home owners turn to lodgers to meet mortgage repayments

Home owners are increasingly turning to lodgers to help pay the mortgage, reveals a survey from Zurich Financial Services. One in five people questioned say they cannot afford the repayments on their mortgage without the additional income of a lodger. An additional 4% say renting a spare room was the only way they could afford […]

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MBBG figures show rise in mortgage lending

Latest figures for October 2005 from the Major British Banking Groups show that net mortgage lending in October rose by an underlying 4.3bn. This was lower both than Septembers rise of +4.7bn and the average of +4.4bn over the previous six months. Underlying growth in overall unsecured personal lending was higher than both September and […]

Bradford & Bingley responds to CML figures

Bradford & Bingley has commented on the latest Council of Mortgage Lenders lending figures. Duncan Pownall, mortgage development manager for Bradford & Bingley, says: “Despite a slight dip of 3% in this months CML gross lending to 27bn, Octobers is one of the highest monthly lending figures on record. Indeed, it is close to the […]

UCB offers alternative buy-to-let calculation

UCB Home Loans is set to become the only mortgage lender offering customers a standard choice of two different buy-to-let borrowing calculations across its entire range of buy-to-let products.The calculation works on the anticipated rental income being equal to at least 125% of the monthly mortgage payment on an interest only basis, calculated at the […]

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