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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Northern Rock is reducing rates across its purchase, remortgage and buy-to-let mortgage ranges by up to 0.70%.
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 […]
The number of mortgage intermediary firms operating in the market has shrunk from a colossal 3,394 in June 2007 to 1,641 as of March 2011.
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 […]
Steve Webb – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]
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