Mortgage instructions rose 73% in May, according to LMS Monthly Mortgage Snapshot. The data showed there was a 2% decrease in completed mortgages in May, while the overall cancellation rate increased to 5.6%. LMS Managing Director Nick Chadbourne said: “The numbers show there has been a substantial increase in instructions indicating increased consumer demand and …

The cost of regulation continues to rise, with sensible and responsible companies always having to bear an increasing cost to the regulatory family. By law, we must financially support the Financial Conduct Authority, the Financial Ombudsman Service (FOS), the Financial Services Compensation Scheme and the Money & Pensions Service; in addition, we have other groups …

Right now, we are all battling the challenges of a volatile economy and a squeeze on our finances, thanks to the rising cost of just about everything, as well as rising interest rates. interest. Brokers are facing huge high pressure fronts, with demand soaring as panicked borrowers rush to remortgage. Many are incredibly busy, struggling …

Barclays Bank has bought Kensington Mortgages for £2.3bn following an auction by the specialist mortgage lender. Kensington, which has 600 employees and specializes in offering mortgages to the self-employed and borrowers with more complex incomes, is being sold by private equity owners Blackstone and Sixth Street. It originated around £1.9billion in mortgages in the year …

Pepper Money offers rental borrowers a free energy efficiency survey, which provides an EPC certificate as well as an action plan on how to improve that rating. This offer is available to all current Pepper Money customers who have a rental mortgage in their name. This will exclude those who purchased BTL property through a …

Sirius Property Finance announces that it has launched a flexible financing line for property developers. The specialist debt adviser says it has secured exclusive access to funding that offers experienced developers a development exit to an 80% loan-to-value term product. The product offers developers senior and mezzanine financing up to 80% LTV at a blended …

Homeowners are increasingly concerned about the economic climate and its impact on their household finances, according to research by Trussle. A survey of 2,000 homeowners by the online mortgage broker found that 2 in 5 homeowners (38%) are worried about their mortgage payments given the current rise in living costs, while 1 in 5 ( …

According to research by Royal London, one in 10 people with a protection policy are considering reducing or stopping their premiums due to the cost of living crisis. As prices rise at the fastest rate in 40 years, consumers are looking for ways to cut costs to ease the pressure on their payroll packages. Existing …

Residential property transactions in the UK increased on a monthly basis in May, according to new government figures. On an unadjusted basis, transactions in May 2022 grew to 100,870, 1.6% higher than the previous month but 2.0% lower than May last year, according to HMRC. Meanwhile, non-residential transactions stood at 10,250, representing a 9.7% increase …

Foundation Home Loans has expanded the number of eligible jobs, increased the maximum loan amount and increased the loan limit to the value of its range of business mortgages. The exclusive brokerage lender has expanded its list of eligible professions to include licensed tax advisers, optometrists, radiographers (diagnostics) and podiatrists. The company defines a professional …

The first-time buyer market will reach £73.1 billion by 2024, underscoring its value to the UK economy, according to a Coventry report for intermediaries. The report, titled The First Time Buyer Economy, projects that FTB mortgages alone are expected to reach £69.2bn in two years, 15% above pre-pandemic levels in 2019. These borrowers are also …

The average standard variable rate in June jumped to 4.91%, its highest rate in 13 years after a series of base rate hikes, according to the latest Moneyfacts UK Mortgage Trends Treasury report. Average standard variable rates rose 13 basis points this month from May and jumped 51 basis points from last December, when the …

Digital lender StrideUp targets first-time buyers with the launch of a condominium mortgage product that offers loans up to six and a half times the income. Customers will need a 10% down payment to partner with the company and then make a single monthly payment to cover repayments and rent, effectively borrowing six and a …

I recently had a week long adventure in the Pyrenees. Hiking, canyoning, rock climbing – this is my escape from the hectic world of owning a business that is constantly measured by brokers for its success in delivering clients. Service level agreements (SLAs) and revenue returns are rightly scrutinized against those of our peers. It …

Hodge will close for new business on all of its mortgage products on what it says is a temporary basis from Thursday, June 16. In a note posted on the lender’s website, it says it is currently unable to meet service levels due to record business volumes. Hodge says all tentative decisions must be submitted …

Secretary of State for Leveling, Housing and Communities Michael Gove said that since the pre-pandemic record of 244,000 completions, there have since been “a number of economic headwinds which will make life more difficult to reach the goal of 300,000. Gove’s comments were made on June 13 during the Upgrading, Housing and Communities Committee evidence …

The cost of the average fixed rate over two years is now three times more expensive than last October, according to figures from L&C Mortgages. The recent increase in the Bank of England’s base rate and the expectation of further rate hikes have pushed up the cost of fixed rate transactions in recent months. The …

The Financial Ombudsman Service (FOS) is looking to update its levy structure. In a consultation paper published today (June 14), the FOS is calling on stakeholders to give their views on possible changes to its future funding model. This includes its levy structure as well as its application fee structure. Comments are open until August …

Newcastle Intermediaries has expanded its range of joint sole proprietorship (JMSP) mortgage products. The extension will see the introduction of a series of five-year fixed rate products available at up to 95% loan to value (LTV). The products are designed to support first-time buyers and borrowers buying a home later in life or as a …

Finova Payment and Mortgage Services has partnered with Hope Capital, a specialist bridge loan provider, to enhance its lending product portfolio. The partnership will allow Finova Payment and Mortgage Service members to access Hope Capital’s bridge loans of up to £5 million for up to 18 months. Hope Capital’s products provide bridge financing to borrowers …

LiveMore has reduced prepayment charges on its range of long-term fixed rate mortgages for the 50-90+ age bracket. The over-50 home lender says new prepayment charges have been shortened on its 10-year, 20-year and fixed-for-life products. It says borrowers now have the option to end the mortgage early after five years without penalty if their …

Lendco has completed its second public mortgage-based securitization worth £384m, which it says was oversubscribed despite volatile market conditions. The broker-only specialist lender says the deal refinances loans secured on residential properties in England and Wales held in warehouse and has been picked up by European and UK investors. The transaction, which was finalized on …

After more than a decade of historically low interest rates, we find ourselves talking about rising rates again. For years we have said that the world of low rates could never last forever, and today, with inflation at its highest level in 40 years, it is becoming clear that we have reached that turning point. …

Searches for lenders accepting applicants with “missed or overdue payments” entered the top five searches on Knowledge Bank’s specialist platform last month, which it calls a “potentially worrying development”. The criteria-tracking firm says the increased use of this type of research follows rising interest rates, inflation and the cost of living, which has led to …

United Trust Bank has improved its line of transitional products for heavy renovations and brought together its unregulated team to streamline applications. Rates on the heavy renovation range start at 0.59% with a maximum LTV of 75% for experienced property developers and 0.74% up to 70% for inexperienced borrowers. Experienced promoters must show proof of …

Propertymark has welcomed UK Housing Minister Eddie Hughes’ pledge that the UK government is not considering controlling rents in England. In a written response to a question from Labor MP Rachael Maskell, Hughes said there was enough evidence available to show they would discourage investment in the private rental sector and lead to lower property …

Since the pandemic, the mortgage industry, alongside many others, has shifted to a hybrid working model. Although this model introduced innovative working methods, it also presented challenges. One of these challenges for brokers is the inconsistency of underwriting between market lenders. It has been suggested that the inconsistencies exist because many mortgage underwriting teams are …

James Briggs, Middle Sales Manager, Personal Finance, Together “Just before the New Year, as people set goals for 2022, we surveyed the UK population to understand their property goals for the year ahead and the challenges ahead. The results revealed an ambitious nation – more than half had dreams they wanted to achieve this year. …

Mayflower Mortgage and Finance has launched a new specialist mortgage conditioner for brokers. Mayflower for Brokers will help place self-build and development cases for brokers. In addition, brokers will receive a minimum of 0.4% (up to 1%) as gross proxy fees. The new service can help brokers and their clients understand project budgets, perform project …

Rents are rising across the UK, but the latest data from Propertymark shows demand remains high from potential tenants. Propertymark’s latest report on the private rental sector found that an average of 95 new applicants were registered per member branch in April, an increase from the 78 per branch registered in February. The number of …

The biggest worry for landlords is about legislative changes and future tax changes, according to the government’s latest English survey of private landlords. Respectively, 52% and 50% of the 9,000 landlords and rental agents surveyed gave these answers. The survey also shows that 10% of owners plan to sell all of their properties and exit …

BuildLoan has introduced a short-term mortgage for customers who need to finance the construction of bespoke homes until they move in and sell their old property. The self-build finance and bespoke build specialist says the product – developed with the Buckinghamshire Building Society – is designed to help customers who want to pay off their …

More than four in five homeowners hold at least a quarter of their real estate portfolio in public limited companies, which they say act as a buffer against inflation, according to a survey of Getground buy-rent platform. He found that 81% of owners maintain this proportion of propertyin this form and that 79% of those …

Most owners view their properties as retirement investments, according to the latest English Private Owners Survey 2021. It notes that 54% of owners consider their housing “as a long-term investment to contribute to their retirement”, underlines the report published by the Ministry of Planning, Housing and Communities. This figure rises to 58% among rental owners. …

When the hugely popular TV quiz show, ‘Who Wants to Be a Millionaire?’, was first broadcast in December 1998, less than 1.7% of the UK population were actually millionaires. At last count, almost 5% – more than 2.5 million adults – belonged to this golden category, according to the Credit Suisse Global Wealth Report (June …

Elderly homeowners freed up an average of £111,500 of home wealth in the first three months of the year, data from Key Later Life Finance shows. Data showed plan sales jumped 21.4% in the first quarter of 2022 to 12,551 from a year ago, while the value of new capital released soared 30.5% to 1,399 …

Leather on willow, chorus of dawn to wake you from your slumber, torrential rain falling unexpectedly – these are the sounds of spring. Historically, one could have included banging ‘For Sale’ signs into the ground as the UK property market entered seasonal life. However, given the nature of the offer, many of us would have …

The Suffolk Building Society has promoted Rebecca Newman to chief operating officer (COO) from her former position as chief of staff. Newman takes on the new role from former COO Ian Brighton, who has been named head of credit and mortgage management. His new role combines his previous responsibilities with an additional operational mission, including …

The commercial real estate market is expected to have a positive 2022. The sector is showing signs of growth and investment as it begins to rebound from the negative effects of the global pandemic. Rising investment, both domestically and internationally, is helping, while a return to office work and increased employment and hiring opportunities are …

Bridge and development loan lender Avamore Capital says it has revamped and simplified its product line. The company says its offering will still revolve around four main products: renovation, partial development, and development and bridging. It says that for development loans it is maintaining its fixed rate of 7.75%, which allows brokers to offer “above …

Together Financial Services has priced its first mortgage-backed securitization (RMBS) at £349m. Together Asset-Backed Securitization (TABS) 2NDI is the sixth issue in its TABS program since 2017 and the eighth MBS facility overall. It was set at a weighted average cost of 1.96% with an advance rate of 91.6%. Almost three quarters (73.5%) of the …

For some time now people have been saying, “Property prices certainly cannot go up and there will soon be a downturn. But the prices continue to rise. They will continue to do so as long as there are fewer homes being built than there are people willing to buy and as long as gazumping can …

Howard Levy, director of SPF Private Client, announced that he will be performing at Ukraine Aid fundraising event in June. Levy is no stranger to performing for charity after being part of the Mortgage Industry Collective in 2019. He has also played drums for Shania Twain, Queen, and at the O2 Arena, Wembley Arena and …

Financial services platform Stipendium announces that it has launched a mortgage product that ensures homeowners can remortgage an unlimited number of times without brokerage fees for a one-time cost. Its Remerge product costs £99, but the company adds that customers may have to pay additional fees, “depending on individual circumstances such as the fee for …

Never have we been so bombarded with data and had access to so much information to shape and inform our opinions. The situation in Ukraine has highlighted both how access to reliable data and how that data is interpreted are powerful tools in shaping a narrative. With independent news sources and barrier-free global data sharing …

What is the size of the gateway market? Lending data from the Association of Short-Term Lenders (ASTL) – the only trade body dedicated to representing the interests of lenders in the short-term home loan market – is considered the industry standard. At the end of 2021, our data showed a record period for bridge loans …

West One Loans has cut rates on its buy-to-let life tracking range. Lender’s Lifetime Tracker Standard W1 is now available at base plus 2.09%, reduces the cost by 15 basis points, as it was previously a base rate plus 2.24%. West One has also cut rates by 15 basis points on its Lifetime Tracker Specialist …

Holdsworth Financial Managing Director Simon Holdsworth shares his frontline experiences in Ukraine and explains why the mortgage industry’s Ukraine Aid fundraiser will be doing crucial work in the country. I had to go on vacation with my girlfriend to cross theUnited States, but when we saw the crisis developing in Ukraine, we called it all …

Average rent has risen 11% in the UK over the past year according to the latest Zoopla report market index. This means the average rent paid by tenants is now £995 per month, up from £897 last year. for sharers. Figures from Zoopla show that rents have risen fastest in London, with a 15% increase …

Retirement aspirations and financial planning drive clients’ choices for freeing up capital, with nearly a third (32%) wanting to enjoy life more as they age and 28% focusing on planning financial, according to the latest research from Standard Life Home Finance. The research took into account the opinions of 418 people who had subscribed to …

Paradigm Mortgage Services has hired Sarah Blackwood as Senior Relationship Manager. Blackwood will cover Scotland, Northern Ireland and the North East of England and comes from Santander, where she was responsible for business development. In his new role, Blackwood will help build relationships with existing businesses and help Paradigm members grow and expand their businesses. …

Potential borrowers were very confident about getting a mortgage in April, although that sentiment is weakening slightly, according to the latest data from OnTheMarket’s Housing Sentiment Index. Data showed an average of 4% of movers in the UK were concerned in April about getting a mortgage to finance the purchase of their next property, a …

At the time of going to press, the Bank of England’s monetary policy committee had just announced that the base rate would drop to 1%. It wasn’t unexpected, but it’s nonetheless shocking to many who are already struggling financially. And that’s not the end of the increases. Economists predict that the base rate could reach …

According to Loans Warehouse, second charge loans jumped to £140.4million in April from a year ago. Last month’s year-over-year figures were up 80.9% in April 2021, the company said based on data reported to it directly by second-charge lenders. The report adds that there was a 9.7% drop in overall lending volume, but points out …

You could argue that the pandemic has made it harder for Britons to achieve their property dreams in 2022. In fact, 28% of respondents agreed with this statement. The UK study* found that more than half of the self-employed believe their chances of buying or renovating a property (whether for themselves or for investment purposes) …

Beverley Building Society says it cut the rates on its self-built mortgages by 76 basis points as homeowners re-examine their housing needs in the wake of the pandemic. The Humberside-based mutual has cut its rate on these types of home loans to 3.49% For the period of construction, with a maximum loan-to-value ratio of 80% …

According to Knowledge Bank, the high interest rate environment is expected to impact mortgage availability and search criteria. The criteria tracker found that “maximum borrower age” at the end of the mortgage term remains the most common search in the residential sector in April, “suggesting that borrowers are looking to extend mortgage payments for the …

The Home Purchase Assistance Scheme (HTB) was used to finance 8,913 home purchases in the last quarter of 2021, according to government figures, a decline of 41% annually. Overall, since April 2013, HTB has been used to close the sale of 355,634 homes, with the total value of loans made reaching £22bn, the figures add. …

A new customer service guide for mortgage brokers and lenders highlights the need for empathy and “active listening” when dealing with borrowers. The guide, from communications provider Moneypenny, is based on its experience managing customer interactions in the financial services industry. He has targeted this guide to the mortgage industry with the aim of improving …

A broker said Mortgage strategy that the Financial Ombudsman Service (FOS) intends to charge him twice £750 for investigating complaints that were not upheld. Brian Rix of Rix Financial Services says these are the first complaints he has received in 30 years. The first concerns an interest-only mortgage sold 13 years ago. The second concerns …

Well, it’s May and before we know it, the first half of the year will be over. It’s times like these – usually late at night, like at the time of writing – that we tend to take stock and review where we are in this amazing industry. There really hasn’t been a clear year …

Average house prices rose 10.8% year on year in April to a record high £286,079according to the latest Halifax house price index. The rise is down from the 11.1% posted in March, but it is still the tenth consecutive monthly rise in prices, the longest since 2016. The report said: “The real estate market has …

Cyber ​​risks are among the worst perils businesses face, according to Allianz’s list of global business threats released this year. Attacks are increasing, they are becoming more sophisticated and the cost of insurance is increasing. Although cyberattacks come from the shadows, you hear about them everywhere. For example, Toyota had to halt production at all …

Leeds Building Society has reduced its stress rate on buy-to-let (BTL) fixed rate contracts for five years or more. The stress rate has been reduced from 5.5% to 4.5% for BTL purchases or remortgages with additional borrowing on longer term fixed rate mortgages. Martese Carton, Director of Mortgage Distribution, Leeds Building Society, says: “Reducing our …

Glenhawk launched a regulated bridging rangeand for borrowers seeking financing against their main residence which includes a loan band at the higher value of 75% and what it says iss lowest interest rate at 0.49%. The specialist lender also says the main features of this simplified product range also includes loan size ranging from £150,000 …

The Bank of England (BoE) raised the key rate by 25 basis points to 1%, the highest level since 2009. The Monetary Policy Committee (MPC) voted by a majority of 6 to 3 to raise the bank rate by 0.25 percentage points, to 1%. Minority MPs voted to raise the Bank Rate by 0.5 percentage …

MQube’s MPowered Mortgages has received Financial Conduct Authority (FCA) approval to expand into the prime residential mortgage market. The approval follows investment backing of an undisclosed sum from Barclays, M&G Investments and Citigroup’s SPRINT. The three financial services companies join AV8, IQ Capital and JamJar Investments, which raised seed funding for MQube in 2019. Last …

Net mortgage borrowing fell from £4.6bn in February to £7bn in March, according to new figures from the Bank of England (BoE). This, according to the BoE, means borrowing remains above the pre-pandemic average through February 2020 of £4.3tn. Meanwhile, the number of house purchase approvals fell slightly to 70,700 from 70,970 in February, while …

Catalyst expanded its existing product line and entered the buy-to-let (BTL) market with BOOST to let. The new specialist mortgage has an interest coverage ratio (ICR) of 100% and allows unlimited tiering for high net worth borrowers with over £1m in assets. Loans are granted at 75% LTV, including those with withdrawal (80% loan-cost for …

The UK government is set to provide households in England who rent properties from housing associations with the option of buying them at a reduced price, the Telegraph has reported. Prime Minister Boris Johnson has told officials to develop the proposals to help ‘generational rent’ over the past two weeks, the Telegraph has revealed. The …

Guy Harington Glenhawk aims to enter the specialized buy-to-lease (BTL) space in the last quarter of this year, the lender revealed in an interview with Mortgage strategy. In a wide-ranging discussion, chief executive Guy Harrington said the company wanted to aim for the extremely specialized end: “Complex cases – offshore ownership, trusts, multi-unit freehold blocks, …

Loughborough Building Society has updated its buy-to-let (BTL) offer to incorporate feedback from brokers and customers. The updated BTL lineup includes Vacation Rental, Family BTL, Business and Consumer BTL, and Rent-to-own. The vacation rental product is available for the purchase or re-mortgage of properties in England and Wales which are used for short-term vacation rental, …

People leave the U.S. Securities and Exchange Commission (SEC) headquarters in Washington, DC, U.S., May 12, 2021. REUTERS/Andrew Kelly Join now for FREE unlimited access to Reuters.com Register SEC sued last year over mortgage-backed securities ratings Lawsuit alleged inadequate disclosures and internal controls Deal requires SEC and judge approval (Reuters) – Morningstar Inc has tentatively …

Bristol-based start-up Propflo has confirmed it has successfully closed its £180,000 pre-seed funding round from strategic investors to develop its property transparency platform. The platform includes an “Experian-like” proprietary property score that owners can add context to, as well as sustainability insights and support to prepare sellers and buyers. It was founded by proptech entrepreneur …

The Times reports that Chancellor Rishi Sunak estimates interest rates will rise 2.5% over the next 12 months. He says he reported it to the cabinet on Tuesday, adding that homeowners who are not on a fixed rate deal could see their mortgage payments increased by £1,000. According to Trussle, the Bank of England raising …

UK satisfaction with housing has fallen for the fourth quarter in a row, significantly impacting people’s health and wellbeing, according to Lequal &GgeneralBritain Reconstruction Index. The survey says it’s hhousing score refused to 56/100, “significantly lower than all other forms of economic, built and digital infrastructure measured by the index”. This score was 60/100 in …

Legal & General, Sesame Bankhall Group and SimplyBiz Mortgages have teamed up to form a new mortgage climate action group. The group’s aim is to interpret new climate change legislation and engage with industry stakeholders to provide advice and practical assistance to advisors. The Mortgage Climate Action Group will serve as a source of support …

Barclays has expanded its partnership with Groundsure to start screening business transactions in the UK for environmental and climate change risks. Groundsure has worked with Barclays since 2006 to provide the bank with a flood and contaminated land loan guarantee opinion. The new agreement will introduce Siteguard’s new Climate Report, which includes a four-tier risk …

LOS ANGELES, April 26, 2022 /PRNewswire/ — Futures Financial (“Futures”), a nationwide private real estate lender headquartered in Tustin, Californiaannounced its launch led by industry veterans, Kendra Rommel and David Rosenberg, to focus on creating new lending products for real estate investors, brokers and developers. Backed by a leading wealth management fund with over $650 …

MorganAsh has launched a new consumer vulnerability assessment tool to help mortgage advisers and businesses understand and manage consumer vulnerability. The MorganAsh Resilience System (MARS) provides an objective measurement rating like the familiar credit score used by lenders across the UK. The tool was launched in line with the Financial Conduct Authority’s (FCA) guidelines for …

I’ve spent a lot of time over the past few months talking to advisors about unlocking protection opportunities in the rental market. As part of this, we have discussed how most people buy their first protection policy when buying their first home. For those who sit in the private rental industry, they will not yet, …

When you are busy, how do you prioritize your work? At first glance, this seems such a simple question, but it is in fact the most fundamental, and potentially the most complicated, that we have to answer in our professional life. For those who manage staff, it becomes even more complex because it is not …

Almost a third of property professionals do not think their anti-money laundering compliance would stand up to scrutiny by UK customs, according to a survey by Credas Technologies. The AML Platform report found that 45% of real estate professionals carry out their own AML checks, with 13% adding that any failure of their checks does …

The Bank of England’s latest base rate hike was more or less inevitable as the global situation continues to fuel runaway inflation. After several months of base rates just above zero, interest rates are certainly on the rise and no one knows for sure how high they will go. These increases may have little immediate …

The Financial Conduct Authority will move forward with rules to compel listed companies to disclose diversity information. In a policy statement released today (April 20), the regulator said it received broad support for its proposals. It maintained requirements to disclose representation goals for women and ethnic minority groups on a comply-or-explain basis. The “comply or …

The first quarter of the year has taken off and the real estate market remains solid. With March figures showing property prices are still up 8% year on year, investors and developers will need the support of brokers to find opportunities between price increases. Although the market is still booming, there will always be deals …

United Trust Bank passed the £1bn milestone in specialist mortgages, following a 50% year-on-year growth in new mortgages from 2020 to 2021. The total includes first- and second-charge residential mortgages across the bank’s product line. UTB Mortgages, the bank’s mortgage division, was launched in 2015 with a limited range of second mortgages. The bank has …

More than two-fifths (44%) of customers traditionally underserved by high street lenders are denied financial products and services, with a quarter of them rejected for a mortgage, new research from Bluestone Mortgages reveals. Research, which was undertaken by Opinium and surveyed 1,003 UK adults, showed that 33% were turned down for credit cards, 23% for …

There has been a tremendous amount of discussion around EPCs, energy efficiency and legislative changes over the past few months and it is important that these issues remain firmly on the radar of all homeowners, especially those with larger properties. old ones in their wallets. In the recent spring statement, we saw the Chancellor offer …

Drew Nesbitt Next year will see renewed interest in Section 76 across all of Northern Ireland’s 11 boroughs. This considerable shift in focus is the result of local councils producing their own local development plans for the first time and the maturing of the housing development market in Northern Ireland. Emerging policies in new local …

All areas of England and Wales, except the North East, have seen a slight annual decline in rental yields, according to new data from the Fleet Mortgages Q1 2022 Rent Barometer. While rental yields have fallen, half of the regions have seen improved yields compared to Q4 2021. Annual declines are less than 1% for …

CHL Mortgages entered the short-term rental market with the introduction of a new range of five-year fixed rate products, up to 75% loan-to-value (LTV). The new five-year 65% LTV short-term rental products have two fee options. The 3.50% rate has a 2.5% fee while the 3.80% rate has a 1% fee. Five-year fixed 75% LTV …

Intermediary-only specialty lender Foundation Home Loans has launched new fixed and discounted two-year Green ABC+ options for residential homeowner borrowers. The new range of green products, available as part of the Foundation’s F1 and F2 product range, is aimed at borrowers buying or paying off a property with an EPC rating between A and C. …

In any word association game, saying “blockchain” will surely bring Bitcoin to mind. But the technology behind digital gold is much more versatile than many realize. Essentially, the type of blockchain that powers Bitcoin is a public ledger shared by each party that is updated in real time whenever a transaction is made. These transactions …

Just Mortgages has launched a new 12-week masterclass course for brokers when they have finished going through the academy. The Pathway to Skill course, designed by former brokers, aims to support new brokers in their transition from obtaining their CeMAP qualification to advising clients. The full-day masterclass session includes advice from a lender on the …

UK property price growth will slow this year and is expected to produce only single-digit growth according to the latest forecast from Knight Frank. The real estate and rental agency forecasts 5% annual growth in 2022, with only 1% growth the following year. He said higher mortgage rates, squeezing the cost of living and increasing …

Remortgage instructions fell 26% in March as lenders reacted to heightened levels of uncertainty around the cost of living crisis, according to the latest remortgage data from LMS. The data showed there was also a 28% drop in mortgages completed in March, which was “fully expected” given the spike in prepayment charges (EPC) in early …

Demand is starting to return to London’s prime market, with sales price reductions according to the latest data from estate agents. At the upper end of the London market, properties are now discounted by an average of 3.6% before they find a buyer. Estate and letting agents Benham and Reeves point out that’s less than …

Market Financial Solutions (MFS) has joined The Business Mortgage Company (TBMC) panel of lenders. Targeting a £1bn loan portfolio by 2023, MFS has joined TMBC’s lender panel to reach more brokers. TBMC aims to help brokers find buy-to-let (BTL) mortgages as well as short-term commercial loans and sub-loans. MFS, which was founded in 2006, offers …

BuildLoan has partnered with the Newcastle Building Society to launch a new range of bespoke, build-your-own products. The new offering will provide self-employed and bespoke builders with up to 90% of their land and construction costs, to reduce the amount of money a client has to invest in their construction. The products will offer up …

Australian fintech PEXA has developed a new payment system and has partnered with ClearBank to expand access to its mortgage platform, which is set to launch later this year. PEXA’s new remortgage platform aims to streamline the process for all parties involved in the remortgage process. Transactions will begin on the new PEXA Pay payment …

According to new data from HUB Financial Solutions, a significant number of lifetime mortgage customers lack key legal protections designed to protect their wealth or health later in life. HUB, one of the largest providers of regulated share release advice in the UK, has found that one in five clients (20%) who seek advice on …

The spread between two-year and five-year fixed rates is the lowest since February 2013 at 0.15%, as average fixed rates hit a five-year high, according to the latest data from Moneyfacts. The average two-year fixed rate was revealed at 2.86% for April and is the highest since June 2015 after rising 0.21% since last month. …

London & Country Mortgages and Habito are in discussions about a possible combination, according to Bloomberg. The two companies would work with advisers on a deal, creating one of the UK’s largest mortgage brokers. The deal, expected to be announced in the coming months, would combine London & Country’s telephone advisers with Habito’s online platforms, …

Specialist lender OSB Group has launched a range of relays through its Precise Mortgages and InterBay brands. The group says it has introduced a two-tier offering on top of its standard bridge financing options to allow brokers more choice. These include structural works and extensions for residential customers, as well as financing for the reconversion …

This week, all average fixed mortgage rates have increased, according to data from Moneyfacts. Specifically, the average rate for a two-year fixed rate increased by 3 basis points, to 2.89%, and the average rate for a three-year fixed rate increased almost as much, with an increase of 2 basis points bringing it to 2.92%. The …

The stamp duty holiday has triggered an increase in the number of homeowners taking out marathon mortgages, leaving many vulnerable to higher long-term costs, according to Quilter. Chancellor Rishi Sunak introduced the tax relief in July 2020 to revive the housing market, which had stalled due to the pandemic. It was withdrawn in two stages …

LiveMore Capital has partnered with brokerage firm Specialist Mortgage Group (SMG) as part of the company’s plans to expand its market reach to borrowers aged 50 and over. The new partnership will allow SMG brokers to recommend mortgage products specifically designed for borrowers aged 50-90+. LiveMore’s approach to affordability considers all income, including pensions, investments, …

Santander has updated its Self-Employed Policy which will affect residential applications for self-employed people. From April 11, Santander will take an average of the revenue figures for the last two years, or the last year if lower. For existing Santander mortgage customers moving, it was explained that underwriters may be able to use a more …

Santander has partnered with Groundsure to help assess climate risk in its commercial loans. The bank has worked with Groundsure to create a new report called Siteguard Climate, which details a four-tier risk assessment summary covering environmental liability, loan guarantee risks and the potential impact on property values ​​than those these may have on each …