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Mortgage lending may have peaked

The Building Societies Association says that despite a record February, mortgage lending has reached a plateau and may not climb to new highs for several months.

Last week, the association reported that society gross advances amounted to 4,214m this February, up from 3,183m in February 2006. And the Council of Mortgage Lenders says that last month was the biggest February ever with lending hitting a whopping 24.6bn.

Adrian Coles, director-general of the BSA, warns: “These are strong figures but we may be seeing the peak of the market. The recent base rate rises are still to work through fully in the mortgage market. Lending figures might become a little more subdued as the year progresses.”

He adds: “A reasonably strong economic outlook should ensure there is still demand for mortgages, just not at record highs.”


Whitechurch cuts its member fees

The Whitechurch Network has slashed its member fees and says its appointed representatives will now be able to pocket an extra 2,500 in commission.


FSA advice on wording leads to confusion on adverts

As a sole trader working in this regulated world, things aren’t easy, so when you try to put together an advert to generate some more business a bit of clarity would be nice. I was recently working on the wording for a advert for commercial mortgages with my network compliance team when we came across […]

New scheme allows BTL properties to be sold with tenants in place

A new national scheme launched at the London Stock Exchange yesterday will allow buy-to-let properties to be bought and sold with the tenants in place.Some transactions of this type take place currently, but HomeLet IPEX is the first formal nationwide scheme. It means that landlords will have less risk before they buy a property because […]

West Brom appoints head of branches

West Bromwich has appointed Phil Ryan as head of its 48-branch network.Ryan has been national sales manager with West Brom since last June and previously worked for Lloyds TSB for 25 years in a number of roles from taking responsibility for branches to commercial banking and the running of a virtual franchise. David Johnston, divisional […]


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