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Higher swap rates will increase the pressure to raise SVRs

Swap rates have jumped higher recently on fears of less central bank support. The announcement by the Federal Reserve Chairman that the US would reduce support for the mortgage bond market over this year and into 2014 was the catalyst for jitters in global financial markets.

£91m earmarked for empty houses project

The Government has set aside £91m to bring over 6,000 derelict homes back into use. The money will be used to refurbish empty homes and commercial premises and make them habitable again, particularly in the Midlands and the North, where the problem is most acute. Communities minister Don Foster says: “This will bring people, shops […]

Fear of misselling claims reignited after High Court appeal decision

A regulatory consultant has warned that claims management companies eyeing mortgages could be spurred on after a high court appeal decision ruled the FSCS compensate a borrower for bad advice which saw her switch to an interest-only mortgage to fund the purchase of a Spanish property. The case was brought by Charmaine Emptage, who was […]

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]