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Remortgage activity up 10% in August

The number of loan approvals secured on property increased by 6.2% in August to reach 108,163, according to data from the Bank of England.

By value, the number of loan approvals rose by 5.2%, from £11.6bn in July to £12.2bn in August.

Remortgage activity accounted for the greatest proportion of this increase, with the number of approvals for remortgaging increasing by 9.5% from 31,652 in July to 34,668 in August.

By value, remortgage approvals rose by 7.5%, from £4.0bn to £4.3bn.

The number of loan approvals for house purchase increased by 5.6% to 52,410, and by value rose by 4.3% to reach £7.3bn.


The Mortgage Mole

Naughty but nice Checking clients for fraud can be a tough business and brokers have to be persistent and intrusive in their questioning to perform the appropriate due diligence. But some brokers can be a little too trusting when it comes to clients and the generosity of the human spirit. Mole learnt of a case […]

QE2 could set sail as early as next MPC meeting

Minutes from the Monetary Policy Committee’s September meeting show a further bout of quantitative easing is on its way. The Bank of England put a halt to its quantitative easing programme in February 2010 after buying £200bn of assets. But the MPC says most members believed slowing economic growth had strengthened the case for an […]

Retire, retirement, calculator

Defined benefit schemes: Part 2

Justin Corliss, business development manager In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS). In the first instance, PTS should familiarise themselves with COBS 19. All guidance below is designed to […]


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