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Sub-prime fees rise nearly 50%

Money Expert warns that the number of the sub-prime mortgages with a fee of over 1,000 has rocketed by over 46%.

It estimates the fees have risen across the board by 13.5%, from 813 to 923. research shows the number of available mortgages without a fee has decreased by a massive 81%, from 71 to only 13.

One in five mortgage brokers plan to increase the amount of sub-prime mortgages they offer over the next 12 months, but says that customers need to watch out for high fees as the sector grows.

Sean Gardner, chief executive at, says: The average fee payable has risen by over 100 which is bad enough. But it is startling to hear that the number of sub-prime mortgages has rocketed.”


Mortgage Angels revamps system

Mortgage Angels has reveamped its lead distribution system by launching preview leads. This allows advisers to cherry-pick leads in the immediate vicinity as they are created in real time.

Build up your MPPI defences now

Firms must sharpen up their sales processes when it comes to MPPI policies or they will face the regulatory music when complaints start rolling in, says Simon Burgess

Landlords prefer to buy closer to home

New research for Landlord Mortgages has revealed that just over 77% of buy-to-let investors still choose to invest in their local area. Even in London, which boasts some of the highest house prices in the UK, over half of investors still choose to buy a property within five miles of their own residence.Investors who were […]

Optoma launches Kensington self-cert

Optoma Broker Solutions has launched a self-cert fixed rate from Kensington Mortgages.Priced at 5.92% up to 85% LTV, the near prime 500 is a three-year fixed rate for self-cert customers, with up to 500 of County Court judgments and defaults ignored. There is no higher lending charge on the deal, which is also available up […]


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