A specialist commercial mortgages exam module is being developed by the Institute of Financial Services, with a launch expected early next year.Though the final syllabus has yet to be confirmed, it is anticipated this module will address the specialist lending requirements of this sector and the range of products available. Mark Roberts, head of the faculty of financial regulation at the IFS, says: “There has been much growth in the commercial sector in recent months with many lenders developing products that are more in keeping with those available in the private sector. “This module offers a means of demonstrating specialist knowledge and competence for those already advising in this area. It can also be used to extend knowledge for those who wish to branch out into this market.” Common types of finance, the regulatory and legal framework, types of mortgage solutions and the criteria for determining their suitability and affordability will also be covered. The module forms part of the Advanced CeMAP launched earlier this year. Candidates will now have a choice of three specialist product modules – lifetime mortgages, alternative residential lending and commercial mortgages.
Scarborough has launched the country’s first completely self-funding holiday buy-to-let mortgage. The base rate tracker and fixed rate products offer interest rates from 5.39% and applicants’ eligibility will be judged by the property’s potential rental income rather than their personal income. The aim of this offering is to give potential investors an easier route to […]
Britannia is launching a new two-year fixed rate mortgage on October 28, offering a rate of 4.29% up to 95% LTV which is a drop of 20 basis points as the previous rate was 4.49%.The initial rate on Britannias two-year discount tracker will also drop on Friday October 28, to 4.35%. The product will track […]
Figures released by the Bank of England show that the number of new mortgage approvals for home purchases was 107,000 in August, up 8.1% from 99,000 in July. Compared to a year earlier, mortgage approvals are now 15.1% higher, the first annual increase recorded since June of last year, contrasting with the dramatic fall of […]
The FSA’s decision to investigate three firms for non-compliant sales practices is a drop in the ocean as there could be hundreds more rogues to be rooted out, says Richard Griffiths
Health Shield has strengthened its position in the cash plan market, according to the latest Laing & Buisson report, increasing its market share by income from £27m in 2012 to £29m in 2013. The Health Cover UK Market Report 2014 revealed that the non-profit-making Friendly Society was the only provider in the top four to have increased its market share by income over the past year. Health Shield was also the only cash plan provider in the top four to have increased its market share by income every year for the previous five years. This infographic presents the figures.
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