Housing supply increased by 232,820 in England in 2021 to 2022, up 10% on the years 2020 to 2021, according to the latest government figures. Net additional dwellings in 2021 to 2022 are 4% lower than their 2019 to 2020 peak and 87% higher than their 2012 to 2013 trough. The 232,820 net additional homes …

UK mortgage approvals are expected to decline this year, due to a 13.4% decline in buyer demand for residential home purchases, according to data from Octane Capital. The specialist lender’s analysis of Bank of England data expects nationwide mortgage approvals to reach “just under” 1.6 million by the end of 2022, with a average of …

Lenders and brokers expect a more stabilized market after the period that saw everyone having to react to changing markets, rising rates and product withdrawals. Speaking on this week’s Lenders Live, hosted by Knowledge Bank, Foundation Home Loans business development manager Mark Whitear said that since September the market has been “frenzied” not just for …

Recently, there has been a crescendo of concern among brokers for homeowners coming to the end of their benefit or fixed rate period. This is amplified in the specialized buy-to-lease (BTL) space, with some lenders actually offering no product transfer (PT) option. In addition to significant increases in lender interest rates, there has been an …

The Land Registry and Registers of Scotland is one of 126 departments that voted to strike over wages and benefits. The Public and Commercial Services Union (PCS) says a strike program will be presented on Friday 18 November unless its conditions are met by the government. “Action involving all members in areas that meet legal …

Vernon Building Society has launched a range of mortgages in an effort to help first-time buyers get onto the housing ladder. The Head Start Mortgage offering is a co-borrower, sole proprietor mortgage combined with a guarantor product. Indeed, it allows one or more family members to accompany a buyer in two ways: by providing security …

(Bloomberg) – Lender Romspen Investment Corp. needs more time to assess the state of the housing market before it resumes allowing investors to withdraw money from its flagship mortgage fund, an executive said. Bloomberg’s Most Read “You have to take careful steps to protect the fund,” managing partner Derek Jenkin said in an interview. The …

Sophie Mitchell-CharmanCommercial director, LoanInvest The past few months have been difficult in the buy-to-let (BTL) market, which will have left many of your landlord clients looking anxiously ahead. As mortgage rates have surged – with few fixed options available – it’s time for brokers to think creatively about how they can deliver the best value …

The latest proposal from the Financial Conduct Authority (FCA) aims to crack down on greenwashing with new measures, including sustainability labels for investment products and restrictions on how green terms such as “ESG”, “green” or “durable” can be used. Greenwashing is an unsubstantiated claim that a product or service is environmentally friendly or has a …

PCF Bank has announced it will pull out of the UK banking market after failing to raise capital and secure strategic options. The lender was looking to raise more significant growth capital and pursued other strategic opportunities, but PCF says it “has now determined that significant growth capital will not be available and strategic transactions …

SHUTTERSTOCK / FAITHIE It’s been just over four years since the first green mortgage was launched by a traditional lender. Meanwhile, green mortgages have slowly gained momentum – helped in 2019 by former Conservative Prime Minister Theresa May’s government’s pledge to make the UK carbon neutral by 2050. If that goal needs to be achieved, …

UTB Mortgages for Intermediaries has made its principle decision-making process available online for all its buy-to-let products, which it says “significantly enhances the existing service and conversion benefits for brokers”. The bank’s broker-only arm says that until recently the majority of its BTL applications were referred for manual underwriting review, but after a successful trial, …

(Bloomberg) – Canadian real estate lender Romspen Investment Corp. halted redemptions of its biggest fund after a number of borrowers stopped making payments. Bloomberg’s Most Read The Toronto-based company will ‘temporarily defer payment’ of redemptions until it has more clarity on when borrowers will repay the loans and the fund can obtain cash from the …

Capital LYNK Capital LYNK Short-term residential mortgages remain an attractive investment alternative with strong risk-adjusted returns We continue to believe that…investments in short-term residential first mortgages – at conservative LTVs and attractive rates – remain a solid investment alternative. — Ben Lyons, Founding Partner and Managing Director of LYNK Capital RALIEGH, NORTH CAROLINA, USA, November …

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It all still seems a bit unbelievable when you reflect on the last few weeks since the former Chancellor’s not-so-mini budget. If this was an episode of The Thick of It, you might have found the whole thing a bit far-fetched. What would be even more incredible is if a Home Secretary had resigned for …

Two-thirds of the housing market is cut off from buyers who are part of a chain, with the majority of sellers now wanting a chain-free process, says MPowered Mortgages. On top of that, “buyers who are part of a chain can expect to pay more to land their ideal property,” says the home lending platform’s …

Borrowers who remortgaged in September saw their average monthly payment jump by £236, according to LMS. The conveyancing services company’s monthly Remortgage Snapshot adds that 50% of borrowers increased their loan amount last month to an average of £21,933. The average mortgage amount in London and the South East was £279,689, while the average for …

The Association of Mortgage Intermediaries has launched a five-point protection action plan to ‘propel the industry forward, at a time when the UK consumer needs our advice and solutions more than ever’ . The plan is part of the body’s third annual report on protection in the mortgage industry, called The Great Protection Shift, produced …

Hampshire Trust Bank (HTB) has appointed Chris Daly as managing director of its specialist mortgage lending division. Most recently, Daly held the position of Head of Origination and Real Estate Finance at Secure Trust Bank, lead the formation and development of the Midlands and South creative team. Prior to that, he worked as a relationship …

According to a study by Contact State, consumers are increasingly concerned about the security of their personal information when comparing mortgage quotes online. A Data Control Matters survey of 5,000 consumers found that if only 17% started their search online the last time they searched for mortgage quotes, 34% of the same adults would go …

First-time buyers (FTBs) face quadrupling their deposits on a typical £81,510 home to secure a property as rates remain high, according to The Telegraph. New buyers now need to find a 43 per cent cash deposit if they want to keep their repayments at the same level as when average mortgage rates were 2 per …

UK mortgages are likely to grow by 4% this year, but will soon slow to growth of just 0.7% in 2023, according to EY. It would be the lowest growth rate – valued at £11bn – for this metric since 2011, according to forecasts. The company blames rising mortgage rates and falling household incomes. He …

Owners took out 13,452 new equity release plans in the third quarter, with total loans topping a record £1.7bn, according to the Equity Release Council. The body says this type of loan, among homeowners aged 55 or older, topped 13,000 for the first time, up 8% from the previous quarter. He adds that the market …

MPowered Mortgages has partnered with the Stonebridge Broker Network. Stonebridge advisors will have access to MPowered Mortgages residential mortgage products for primary borrowers. MPowered’s primary residential products include two-, five- and 10-year fixed rate mortgages, including its recently launched line of 85% mortgages. Initial rates on the 85% LTV range start at 5.39%. The lender …

Adverse credit inquiries dominated brokers in the third quarter, according to Primis Mortgage Network. Despite the rising cost of living putting pressure on many consumers, Primis explains that there are still options available for borrowers with adverse credit and those in other complex financial circumstances. In total, the product desk helped delegated advisors (RAs) with …

Liz Truss’s resignation as Prime Minister was welcomed by those in the mortgage industry, with Staton Mortgages director Mike Staton suggesting she only made one correct decision during her term “and she took it today by handing in his resignation”. Truss addressed the country outside Downing Street just after 1.30pm today. In the announcement, she …

Liz Truss has resigned as Prime Minister, following a meeting this morning with 1922 Committee chairman Sir Graham Brady in Downing Street. In an announcement outside Downing Street, Truss said: ‘Our country has been held back for too long by weak economic growth. I was elected by the Conservative Party with a mandate to change …

Rental yields fell 0.8% to 5.4% in the third quarter from a year ago, according to Fleet Mortgages, with landlords having to “bide their time to make future investment decisions”. The North East of England retains its best regional rental yield in England and Wales for the ninth consecutive quarter, down 0.8% on the year …

Mortgage Broker Tools has launched a helpline, giving brokers access to experts who can help them find the best solutions for difficult cases. The search criteria platform says its support team, which collectively has more than 50 years of mortgage experience, is ready to respond to calls quickly, “so brokers can avoid long delays. typically …

West One Loans has created a “roving underwriter” to provide key distribution partners with better case support. The specialty lender has appointed Ann-Marie Tarrant, who is currently an underwriter in the firm’s office, to the new position. Tarrant will visit the company’s key distributors to assist with first and second charge cases, as well as …

In September, Paradigm Mortgage Services celebrated 15 years in business and five years since going public. Bob Hunt and Christine Newell have been with the company since its inception and have seen it overcome many challenges. In fact, it was founded in 2007, in the midst of the credit crisis. In 2017, Hunt, Newell and …

Following Kwasi Kwarteng’s dismissal as Chancellor, We Are Money founding adviser Jonathan Burridge said: “It’s been a complete mess.” Earlier today the former Chancellor confirmed he had been sacked by Prime Minister Liz Truss. Speculation over Kwarteng’s future as chancellor began last night when he completed his trip to the United States a day early …

I don’t know if it’s possible to accurately summarize the last few weeks in the mortgage industry without using expletives…. It hasn’t been easy for anyone, but brokers have been particularly hard hit by the fallout from the Chancellor’s mini-budget, working around the clock to secure rates and calm the nerves of panicked clients. Anyone …

The buy-to-let (BTL) and bridging sectors have always been linked and historically have tended to fluctuate with each other. This is not surprising given that many borrowers use bridge loans to quickly finish their real estate investments before switching them to a BTL mortgage. However, when it comes to interest rates, the two sectors have …

Paradigm Protect has added Cirencester Friendly Income Protection (IP) products to its panel. Paradigm Protect member companies will now have access to Cirencester Friendly IP products. These include My Earnings Protected, which offers enhanced coverage with flexibility and certainty, and Income Assured Enhanced, which offers affordable premiums and coverage to age 70. In addition, Cirencester …

“The cost of living crisis” quickly became a cliché, but for good reason. It is likely that many people will struggle to maintain their standard of living for at least the next two years. It may not be a coincidence that earlier this year Canada Life released data that showed that 20% of capital release …

Vida Homeloans is considering staff layoffs as part of a strategic review as the company aims to bolster its “middle-range experience” and improve access to underwriters. The specialist lender says following its review “a number of roles have been identified as being potentially at risk of redundancy and Vida has therefore entered a 30-day consultation …

Monthly construction output rose 0.4% in volume terms in August, according to the Office of National Statistics. The latest data showed it was the second consecutive monthly growth after the upward-revised rise of 0.1% in July. August was also the second highest monthly value level at £15billion, with May remaining the highest since records began …

More than 1,600 mortgage products were withdrawn immediately after Kwasi Kwarteng’s speech as borrowers worried about interest rates So if you’re an anxious potential borrower – or a mortgage payer wondering what you’ll do when your current contract ends – how long does a mortgage offer last? Here’s what you need to know. Mortgage rates …

Mpowered Mortgages has expanded its prime residential offering by launching 85% loan-to-value (LTV) mortgages. The new 85% LTV range will be available on its prime residential products, which include two-, five-, and 10-year fixed rates with repayment options, free valuation, and rolling end dates. Initial rates on the 85% LTV range start at 5.17% for …

The government may reverse the abolition of evictions under Section 21, according to the Times. The government has published its white paper on the fairer private rental sector in June with plans to ban evictions under Section 21, as well as other proposals. “No-fault” evictions under Section 21 currently allow landlords to terminate leases without …

Sometimes you really don’t know where to start; usually when the experience you or others have had defies logic. Like, for example, when someone is so determined to do something that they are ready to destroy an entire economy with it. When I was studying economics in high school, I was pretty naughty and was …

Mortgage Magic has launched an online chat feature that allows brokers to contact clients on its digital platform. The company says its platform can automatically create a chat group – through its customer relationship management system – that includes customers, the mortgage advisor and mortgage administrators working on individual cases, “which makes it easier to …

Big bank bosses plan to raise concerns about rapidly rising mortgage rates with Chancellor Kwasi Kwarteng at a meeting today (October 6). The critical meeting is expected to bring together chief executives from the UK’s biggest lenders, including NatWest’s Alison Rose, Lloyds Banking Group’s Charlie Nunn, HSBC UK’s Ian Stuart, Santander’s Mike Regnier and TSB’s …

Just under a third of homes received an offer within an hour of visiting this year, or 31%, underscoring the current shortage of supply, according to data from MPowered Mortgages. This compares to 7% of properties receiving an offer within 60 minutes in 2018. The fintech mortgage lender adds that the number of properties receiving …

West One Loans has launched a range of prime residential mortgages which it says are “aimed at borrowers underserved by high street lenders”. Its range is open to first-time buyers, movers and mortgage customers who have typically been unable to obtain financing from traditional lenders. The specialist lender says it will cater to those with …

Hampshire Trust Bank has relaunched its transition business after creating a new team to work in this area. The department is headed by Jamie Jolly, who joined the bank as head of bridges in August from bridge lender SoMo, where he was managing director. Jolly has over 20 years’ experience in financial services and was …

You took on this role during the summer of 2020, a difficult year. How did it go? I started two years ago almost to the day! Time flies when you’re having fun. I relished the challenge and really enjoyed seeing the organization from a different perspective. My main goal in 2020 was to continue to …

The Scottish Landlords Association has said it is considering legal action against the Scottish Government’s decision to freeze rents for private and social tenants amid the cost of living crisis. The Cost of Living (Tenant Protection) Bill is being debated in the Scottish Parliament today, having been first announced by First Minister Nicola Sturgeon on …

Crystal Specialist Finance has launched a new website that upgrades its digital submissions, allowing brokers to submit their cases digitally and speeding up review times. The retailer says that in addition to improvements to its Crystal HUB tool, the site has been redesigned to make it easier to navigate and to feature the latest offers …

(MENAFN-AzerNews) By Loans amounting to 2.28 billion manats ($1.34 billion) were granted through the electronic system of the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan, the director of the MCGF Mortgage Department Rasim Abdullayev during a media training. According to Abdullayev, a total of 90,000 (online cabinet) accounts have been created, 36,500 active life …

Describe your business in a few sentences We are a family business providing mortgage and insurance advice to clients across the UK. Our office is located in Leek, a beautiful town in the Peak District in Staffordshire. I am the Mortgage Broker and have worked with my husband and business partner for years, Tom. We …

Net mortgage borrowing rose in August to £6.1bn from £5.1bn in July, according to the latest figures from the Bank of England (BoE). Data shows net mortgage borrowing is still above the pre-pandemic average of £4.3bn in the year to February 2020. Gross lending was little changed last month at £25.4bn, from £26bn in July. …

She continued: “They say ‘you should immediately consider applying because if you don’t lenders might even withdraw those offers’.” At that, Lord Karan Bilimoria, who was a member of Thursday’s Question Time panel, shook his head with a look of solemn disbelief. The audience member added: ‘For me now, as a first time buyer, I …

Since the Chancellor’s “mini” budget last week, the latest news has hardly stopped. Comments from the International Monetary Fund, and more specifically an intervention from the Bank of England this week, show that real risks are emerging for the mortgage market. In such a volatile market, it is essential that information is communicated clearly and …

Rising house prices have pushed the overall valuation of UK housing stock to a record £7 trillion, according to the Equity Release Council. The life lending body says the country’s housing stock has reached this level after annual house price increases hit 12.8% in May as “strong demand” continued to push prices higher. He adds …

In response, she said, “Don’t make offers on properties without talking to your adviser again. Go back to your advisor and ask him to check if the loan is still affordable and also if the monthly repayments will still be manageable for you. How could the market evolve over the next few months? Market analysts …

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The number of properties available per member branch has increased by 47% since last winter, while demand has increased by 79% over the same period, the latest Propertymark housing report reveals. The data shows that the number of agents reporting an average agreed price equal to or higher than the asking price has remained stable …

The value of the pound has fallen behind sweeping tax cuts announced by Chancellor Kwasi Kwarteng in last week’s mini-budget. It fell to a record low of $1.03 against the US dollar on Monday, before recovering slightly. Experts believe the pound’s decline could force the Bank of England to raise interest rates even further, after …

Foundation Home Loans has reassessed its residential mortgage credit levels. The reassessment sees the introduction of a new F4 product level, in addition to making changes to the credit events permitted in its F1, F2 or F3 products depending on when they occurred. The new lineup offers more product options for borrowers who have an …

Broker searches have gone from acceptance prices as the UK “is in the grip of the perfect storm of high inflation, a cost of living crisis and a change of government”, says Knowledge Bank. Top research in the residential sector was the maximum age of a borrower could be at the end of the mortgage …

Northern Ireland has seen its condominium property value limit rise to £190,000 as part of a decision by the Department for Communities. The property value limit is the cap on the value of a property that can be purchased as a condominium and applies to condominium, rent-to-own and condominium for over 55s. The previous property’s …

The UK government will set out its vision this autumn to ‘unlock home ownership’ for a new generation by building more homes in the places people want to live and work and shaking up our housing market, according to the plan. Treasury growth 2022. Chancellor Kwasi Kwarteng announced in this morning’s mini budget that “a …

Government plans to legislate for rental landlords to pass £400 rebates on tenants whose bills are included in their rent have been branded ‘demon landlords’ by the National Residential Landlords Association. The move comes after housing group Shelter said tenants were at the “thank you” of landlords passing on the support, first announced by Chancellor …

Rumors of stamp duty cuts on Friday as part of the government’s mini budget were described by Edinburgh Mortgage Advice founder Mark Dyason called it a “very cynical move because property prices are a sign of the country’s wealth”. It was reported this morning that new Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are …

Glenhawk has launched a range of unregulated bridging products that double its existing loan amount to £10m, targeting professional landlords with residential and hotel properties. The range covers residential loans up to 75% loan-to-value, commercial and mixed commercial agreements, up to 70% LTV, and development exits, up to 75% LTV, explains the specialist short-term lender. …

New Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are considering lowering stamp duties, The Times reports. The cut is believed to be announced this Friday, September 23, as part of his cabinet’s mini budget. Truss has made no secret of his wish to cut taxes in a bid to boost Britain’s economy, which is …

Glenhawk has agreed a £200m senior funding line with NatWest Markets to augment its regulated and unregulated lending. The specialist short-term lender says the new line will support its unregulated product range, which will focus on renovation and light development projects, larger loans and commercial property – as well as increasing of its regulated offer. …

The most borrow-dependent movers are starting to cut budgets in the face of rising interest rates and rising costs of living, according to data from Savills. A late August survey of more than 1,000 potential buyers reveals that commitment to move has also declined, at least in the short term. The net balance of people …

According to Bridging Trends data for Q2 2022, average short-term lending rates continue to decline, from 0.71% in Q1 to 0.69%; a long-standing trend, ranging from a slow rise over the decades to a steep decline in recent years as the market grew in competitiveness, sizeand accessibility. The question is when will short-term financial rates …

Even the most optimistic among us will find it hard to deny that the next two years could be very difficult for the industry. Despite the Bank of England’s various efforts to avoid a recession, we hear interest rate forecasts to exceed 3% by the end of the year and inflation continues to beat forecasts …

The second mortgage market continues to experience rapid growth, supported by significant economic and social changes over the past two and a half years. Data from the Finance & Leasing Association shows the market added £130m in new business in June 2022, which is a 29% increase on the same month in 2021. Customers should …

Coventry for Intermediates launched a range of three-year fixed-rate mortgages in response to the need for “medium-term certainty” in the face of rising interest rates. Coventry Building Society’s broker-only arm says the range will match corresponding rates in its two-year product range and comes after “broker feedback suggests growing client demand for medium-term certainty”. He …

At first glance, the housing market seems more intimidating than ever for first-time buyers (FTB). Prices have risen sharply in recent years – much faster than average wages – creating affordability issues for all buyers, but especially those trying to climb the first rung of the ladder, who don’t have of a cushion of real …

Fixed-rate prices rose in the week through last Friday, according to data from Moneyfacts, with the two-year average rate climbing to a high of 30 basis points to 4.53%. The average rate for a 10-year fixed rate was not too far behind, rising 27 basis points to 4.62%, while the average rate for a five-year …

The industry must work to change public perception of the condominium (SO) market as the housing sector becomes more difficult for first-time buyers (FTB), says a panel of industry commentators. Speaking at a follow-up roundtable to Sesame Bankhall Group’s (SBG) white paper, ‘Overcoming the challenges facing first-time buyers in the UK’, Alex Beavis, SBG’s Director …

Demand from homebuyers fell sharply in August, at a pace not seen since the start of the Covid pandemic, but a continued shortage of available homes is helping to support prices for now, according to the Royal Institute of Chartered Surveyors (Ricks). Its latest monthly report shows how the cost of living crisis and rising …

A study by MetLife indicates that 48% of homeowners in the UK are worried about their ability to pay mortgage payments. On top of that, research shows that 42% of the 2,000 owners surveyed by the company say they have no savings to use if they lose income. Young people with mortgages appear to be …

It’s no industry secret that many lenders are frantically pulling product lines – sometimes their entire supply – off the shelves with the promise of a quick relaunch. For example, according to data provided by Moneyfacts, things started in August with Post Office Money cutting its range, followed by the Coventry Building Society taking the …

Barclays will raise rates by up to 44 basis points on a range of home and buy-to-let loans, while reducing cash back amounts on some transactions and increasing them on others. Among the big bank’s home purchase loans, a two-year, 75% fixed-rate LTV offer with no product fees rises 25 basis points to 3.95%. Minimum …

According to Hodge Bank, the number of homeowners taking out retirement interest-only mortgages to consolidate debt has nearly halved in the past year despite the looming cost-of-living crisis. The percentage of customers who applied for RIO loans who wanted to reduce their debts has fallen to 7% so far this year, from 13% in the …

Reliance Bank has refreshed its range of home loans for the middle and direct market, but retains cash back incentives for key workers and condominium completions. The specialist lender adds that it will accept gifted deposits from family and friends when the source of funds is from the UK. It says key worker applicants will …

Foundation Home Loans has added a two-year “special edition” buy-to-let product up to 75% LTV to its Green ABC+ mortgage portfolio. Products are available at up to 75% LTV for limited companies and individuals looking to remortgage or purchase. The specialist lender is offering the deals as part of its F1 product line, for borrowers …

The new government led by Liz Truss, which takes office tomorrow, must restore tax allowances for homeowners to get them back on the market, said Cluttons manager James Hyman. Reacting to today’s news, Hyman said: “The new Prime Minister’s priority must be to ensure that interest rates do not soar out of control, as this, …

West One Loans has launched a bridging range with variable interest rates linked to the Bank of England base rate. The range is available at up to 70% loans offered across all of the specialty lender’s existing bridging product categories, including regulated and unregulated. Pricing starts from 70 basis points plus base rate for residential …

Searches for brokers fell 4.8% on mortgage platform Twenty7tec in August from the previous month, with the number of available home loans falling to its lowest level since July last year. The fintech company says there were 1.4 million buy and remortgage searches on its platform last month, a traditionally quieter time for the industry …

Virgin Money says it has raised its variable mortgage return rates, following a Bank of England base rate hike last month. The lender, which also includes Clydesdale and Yorkshire Bank in its group, says its residential standard variable rate will rise by 50 basis points to 5.99%. The move comes after the central bank raised …

Precise Mortgages sales manager Roger Morris is leaving the lender after 12 years. Morris is one of the best-known names in the mortgage industry having started his career in the 1990s. He has also served as Director of Group Engagement at OSB Group, of which Precise is a part, since January. In a post on …

According to L&C, around a quarter of young workers are considering relocating now that remote working has become an established practice. The brokerage says in a survey that 26% of 16-24 year olds and 23% of 25-34 year olds plan to move now that they can work remotely, attributing those attitudes to lockdown work practices …

Sellers are willing to cut their asking price by up to £150,000 to entice a cash buyer for a smoother sale in a frenetic property market, according to GetAgent. The average asking price for homes listed in London is currently £486,931, but those looking for a cash buyer are signing up at an average asking …

NatWest will reimburse around 700 small businesses for a total of £600,000 after wrongly forcing them to open checking accounts to secure a loan, following a ruling by the Competition and Markets Authority. The big bank broke banking rules on ‘bundling’ by forcing business customers to open a business current account, which incurs a fee, …

Buyers and sellers must negotiate lower valuations averaging £8,000 “as the UK property market begins to cool”, according to HBB Solutions. The average UK property price is currently £286,397 but property sales are seeing valuations fall by 2.8%, says the chain repair property buyer. He adds: “This means there is a gap of £7,978 between …

There was a slight decline in net mortgage borrowing in July, according to Bank of England (BoE) figures, from £5.3bn in June to £5.1bn the following month. However, this remains above the pre-pandemic average of £4.3bn for the year to February 2020, and data also shows gross lending increased in the month to July 2022, …

Ofgem’s confirmation that the energy cap will rise from £1,971 to £3,549 a year from October has caused dismay among many in the mortgage industry. Apart from immediate concerns about staying warm this winter, brokers fear affordability ratings will be significantly affected, making it harder for people to buy a home. For example, Dimora Mortgages …

Brokers are being urged to plan ahead as nearly £100billion in mortgages are due to mature before the end of the year. Analysis from Accord Mortgages shows that almost a third (£29.1bn) of total home loans ending this year will occur in December, while the second-largest maturity month is October , when £26.3bn of mortgages …

Coastal areas have seen the biggest drop in first-time buyer (FTB) affordability during the pandemic as strong house price growth outpaced local wage developments, the new affordability analysis has found. from Rightmove. Data is based on an average solo FTB and assumes they were able to save up to 10% down payment on an average …

The Competition and Markets Authority has secured agreements from nine building companies which have purchased freehold properties from Taylor Wimpy to remove their dual ground rent conditions, which will see an additional 5,000 UK households receive refunds. The watchdog says new actions in its lengthy investigation also mean four other developers – Crest Nicholson, Redrow, …

Atom bank revealed that its four-day working week has been an “overwhelmingly positive experience” for employees, with improved productivity and job satisfaction. The bank, which introduced the four-day working week in November last year, said it had seen an increase in job applications, an increase in staff and a drop in attrition. Applications were up …

The Saffron Building Society has hired Lee Williams, former business development manager for the Stonebridge Group. Williams will take on the role of Regional BDM for South, South West and South Wales with the company and has experience as a broker, selling mortgages to a lender, as well as in within the Stonebridge network. This …

JN Bank at Half-Way-Tree, Kingston KINGSTON, Jamaica – Recognizing the difficulty some people have with financing expenses related to real estate purchases, JN Bank has reintroduced an offer that the financial institution says will offset initial costs and “further enhance opportunities for Jamaicans to access the property. JN Bank’s New Mortgage Offering Offers Potential Mortgages …

JN Bank at Half-Way-Tree, Kingston KINGSTON, Jamaica – Recognizing the difficulty some people have with financing expenses related to real estate purchases, JN Bank has reintroduced an offer that the financial institution says will offset initial costs and “further enhance opportunities for Jamaicans to access the property. JN Bank’s New Mortgage Offering Offers Potential Mortgages …

Impact Specialist Finance has launched a range of buy-to-let (BTL) mortgages through MT Finance. The range is only available through a select group of packers, which includes Impact Specialist Finance. The products include an income coverage ratio of 125%, which is available for first-time buyers (FTB) and allows up to four applicants. Available at up …

Paradigm Mortgage Services has added the Scottish Building Society to its panel of lenders. This will allow members in Scotland and the North of England to access the company’s range of residential mortgages, contractors, guarantors and professionals for both buyers and repayers. Scottish BS also offers retirement interest only mortgages, as well as products for …

Loans in the relay business rose 14% in the second quarter to £178.4m from the first three months of the year, according to MT Finance, as a ‘continued shortage of stock means there there has been no letting up in terms of pressure on buyers”. The second quarter figure is up 22% from the same …

End-of-life lender More2life has launched a new range of high LTV capital release products. This range will offer LTVs of up to 31.7% for 55 year olds, up to 61.7% for flexible 84 year olds and over. This range, known as Apex, will be available for loan amounts from £10,000 and available on properties priced …

The Competition and Markets Authority (CMA) has closed its investigation into Barratt Homes over the sale of leasehold accommodation. The AMC says it has now “closed its case” and concluded that it was “insufficient to support a clear legal case for the AMC to secure a class action for Barratt leaseholders under its powers in …

Digital bank Perenna said it received its banking license today (August 16) and plans to offer 30-year fixed-rate mortgages to its customers. The fintech company says it has obtained a banking license with restrictions from the Prudential Regulation Authority and the Financial Conduct Authority, adding that once its banking infrastructure is in place, it will …

The UK residential mortgage market is set to grow by 56% to reach £400bn by 2030, according to new research from Together. It also predicts that due to the rise, almost 500,000 mortgage applications will depend on specialist lenders who will double their market share to 4% of the overall UK mortgage market. The study, …