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Most lenders have not passed on base rate cuts

Research by Which? Money shows 95% of lenders have failed to fully pass on cuts in the base rate to customers on SVR mortgages.

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Underwriters may feel the heat on declined cases

There is a risk that underwriters could be pressured into approving fraudulent mortgage applications if they are required to explain why a case is likely to be declined, says the Financial Services Authority. In its Mortgage Fraud Thematic Review, the FSA says some lenders require underwriters to contact brokers to explain why they may decline […]

Smee to take over as CML’s director-general

The Council of Mortgage Lenders has appointed Paul Smee as its new director-general, replacing Michael Coogan who will leave on July 29. Smee is the former chief executive of the Payments Council and founding director-general of the Association of Independent Financial Advisers. Outgoing CML chairman Colin Walsh says: “I am sure that with Paul at […]

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