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Virgin Money has launched three new fixed-rate offers and reduced the price of one of its longer-term mortgages. The three new products are all available at up to 75% LTV, charge a fee of £995, come with £1,000 cashback and consist of: A seven-year fix at 1.89% A 10-year fix at 1.89% A 15-year fix …

Enra Specialist Finance has completed a £285m public securitization of lease and second-order loans. It says the mortgage portfolio was created under the company’s West One Loans brand, making it its second public securitization. The order book was oversubscribed twice. The company issued its first transaction in November 2020, and said it would then become …

Kensington Mortgages could be split as five companies fight to buy the £1bn valued specialist lender, according to Sky News. It says challenger lender Starling Bank is bidding against Barclays and another high street lender to buy the Kensington platform, while rival investment houses Pimco and M&G Investments are battling to buy the company’s mortgage …

Average rental prices rose significantly in the last quarter of last year, reaching 9.9% annual growth outside London, according to Rightmove. This brings the average rent bill to £1,068 across most of the UK. In the capital, average rents have risen by 10.9% over the same period, leaving the average rental cost per month at …

Danske Bank UK will join the partnership of LMS Panel Link members. This decision will allow the bank to access a panel of conveyancing companies that meet its requirements. The lender’s customers in England and Wales will also have access to fee-assisted mortgage products through LMS. The panel link provider says the two services help …

Demand for super premium properties in London has hit an all-time high with sales of homes worth £10million or more jumping 90% in the past year, according to Coutts. Sales rose to 106 last year from 56 in 2020, driven by sales of high-end properties in Kensington, Notting Hill and Holland Park, according to the …

“A lot of the loans we give are for new buildings, and they meet a green standard,” he said. The Australian Financial Review. “It made sense to match the capital, which we can rate, with the mortgage, which is actually rated green.” BC Group is backed by one of Asia’s largest developers, Hong Kong-listed Far …

The way we construct our buildings today is the result of a long historical process of trial and error that dates back thousands of years. Before 20and Century, the main building materials were brick, stone and wood and the suitability and strengths of these materials were well understood by the craftsmen who used them, as …

Belmont Green, parent company of Vida Homeloans, issued its first European residential mortgage-backed security (RMBS) of the year. Named Tower Bridge Funding 2021-2, it has raised £400million through owner-occupied mortgages and lettings. He was backed by Santander, Barclays and Bank of America. Attracting more than £1 billion in demand, Belmont Green managed to price its …

Foundation Home Loans now offers its products in Scotland. Borrowers will be able to access all of the lender’s purchase and remortgage offers for residential and rental properties (BTL). Other changes today include the addition of The Lending Channel to The Foundation’s Distribution Panel and the appointment of Fiona Robertson as the new Regional Account …

Tenants living in towers with unsafe siding will receive online updates on the status of their building’s application to have it removed, according to the government. The new service will allow tenants to track their applications for the Building Safety Fund, a £5.1billion fund to replace unsafe surfacing in residential buildings of 18m and above. …

Kensington and Chelsea are the least affordable areas to live in the UK, while East Ayrshire is the most affordable, according to Nationwide. The London Borough posted a first-time buyer price-to-earnings ratio (HPER) of 14.7 last year, while the Scottish local authority reported a ratio of 2.4, according to the building society affordability report. The …

Saxon Trust has hired Marc Osterley as financial controller as the transition and development lender seeks to expand its business He says Osterley will oversee the day-to-day accounting and work closely with the new commercial team and assist the Chief Investment Officer in managing existing lines of finance and acquiring new sources of funds. The …

HSBC has reintroduced a sub-1% mortgage rate as part of a product renewal. The big bank says the move will make it cheaper to access or move up the property ladder, or mortgage with the lender when a current fixed-rate loan comes to an end. It says sub-1% new mortgages, with a fee of £999, …

Gatehouse Bank has raised the maximum amount of its Home Purchase Plans (HPPs) to £5m, bringing them into line with its buy-to-let range. The UK Shariah-compliant lender adds that the maximum loan available at 80% Funding-to-Value (FTV) across the Bank’s HPP and BTL ranges has doubled from £1m to £2m. In addition, the maximum funding …

Remortgage approvals fell seven points in the third quarter of 2021, according to the latest LMS Remortgage Healthcheck Index. The decline was attributed to slower growth in average endorsement values. The LMS report shows the overall health of the mortgage market and tracks the evolution of four key indicators: the volume and value of mortgage …

A total of £4.4bn – or £12m a day – was borrowed through an equity release product in 2021, a new market report from Key details. The data shows that the number of plans organized during the year increased by 4% to 41,991, while the total value released increased by 28%. The average amount subscribed …

The Sunday Telegraph reports that HSBC is considering tightening its mortgage affordability calculations. Sources tell the newspaper that any changes to its rules would be due to the expected rise in energy costs that households will face following the energy price cap which is expected to rise by more than 50% in April. The price …

Platform has made a number of cuts to its high-ratio mortgage products. The middle arm of The Co-operative Bank has also reintroduced two-, three- and five-year fixes in the 60%-75% LTV range, which charge a fee of £999, and five-year fixes in the same range free of charge. Rate cuts occur up to 25 basis …

Business owners have turned to second mortgages to raise capital as omicron continues to disrupt UK industry, Knowledge Bank says Criteria tracker found brokers seeking ‘fundraising for business purposes’ in December were the fourth most searched term, some of which the company attributed to the Covid-19 variant . He says, “While some of this research …

A survey conducted on behalf of Legal & General Home Finance found that 22% of current workers plan to use the value of their home to pay for their retirement. Moreover, of the 4,000 adults surveyed at the end of this year, the survey showed that 35% of all non-retirees own a house but have …

Landbay has earned the right to call itself carbon neutral, with certification provided by Carbon Neutral Britain. The lender has achieved this by offsetting its greenhouse gas emissions by investing in renewable energy projects around the world. These include a wind farm in the Philippines, a hydroelectric plant in Brazil and a biomass-powered electricity generator …

Tuscan Capital has released its first-ever commercial bridging product as part of its 2022 refresh. The new mortgage is available at up to 65% LTV (with exceptions) on loans ranging from £100,000 to £5 million for purchase, refinance or capital raising purposes. The lender will accept applications for commercial premises, offices, warehouses and industrial premises. …

A new service that allows landlords to extend their lease with a lifetime mortgage was launched today. Lifetime Mortgage Gateway (LMG) is for senior homeowners with a lease term of 75 years or less. The process created by LMG Logistics involves the company paying for a lease extension through a short-term loan, which is then …

Ian Wilson, director of Halifax Intermediaries and Scottish Widows Bank, has announced his retirement. Wilson joined Halifax as a cashier in Aberdeen over 40 years ago, later becoming director of business development. In 2007 he was appointed Head of Sales for Halifax Intermediaries before taking over responsibility for Scottish Widows Bank in 2019 and becoming …

Together has doubled the size of a long-standing securitization deal to £ 400million, which will support the specialist credit firm’s unregulated bridging loans. The Cheadle-based company said it has increased the size of its Delta Asset Backed Securitization 2 limited facility (DABS) which has sold to investors from £ 200million to £ 400million. He adds …

There has been a long road to recovery since the 2008 financial crisis and its impact on homeowners has been the driving force behind most of the regulatory developments that have taken place in the UK since. After the crisis, the regulator introduced a new lending framework through the Mortgage Market Review and, while established …

Landbay said it has reduced some rates on its rental mortgage lineup and added new homes to its green loan portfolio. The rental loan platform reduced rates from 0.14% to 0.29%, with its lowest rate now set at 2.65% for a two-year fixed rate at 65% of the loan-to-value ratio, against 2.85%. Product discount highlights …

As inflation hits the headlines for the first time in decades and interest rates rise despite the spread of Omicron, fixed and variable rates remain in the foreground for many mortgage professionals, and what increases in interest rates will mean for customers. Meanwhile, and perhaps under the radar for many, the issue of Energy Performance …

/ DO NOT DISTRIBUTE TO UNITED STATES NEWSWIRE OR BROADCAST SERVICES IN UNITED STATES/ NORTH VANCOUVER, BC, January 4, 2022 / CNW / – Sunstone Opportunity (2007) Realty Trust (the “Trust”) and Sunstone Opportunity (2007) Mortgage Fund (the “Mortgage Fund”) announce the sale of the last remaining property in their original portfolio with the sale …

/DO NOT DISTRIBUTE TO UNITED STATES NEWS WIRE SERVICES OR FOR BROADCASTING IN UNITED STATES/ NORTH VANCOUVER, BC, January 4, 2022 /CNW/ – Sunstone Opportunity (2007) Realty Trust (the “Trust”) and Sunstone Opportunity (2007) Mortgage Fund (the “Mortgage Fund”) announce the sale of the last remaining property in their original portfolio with the sale of …