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According to Legal & General Mortgage Club (L&G MC), advisor searches for lenders willing to accept borrowers in default increased 157% in January, as did options suitable for arrears and missed mortgage payments, which respectively increased 77% and 90%. The findings come as the UK’s cost of living crisis continues to bite. Searches for customers …

BuildLoan and Nottingham Building Society (BS) have launched three ‘cost-based’ mortgage products for people building their own homes. The products offer up to £600,000 and 80% of a client’s construction costs, with interest payments taking effect once construction has started. The first product has an initial rate of 3.8% for two years and a completion …

Most brokers struggle to find loans for new homeowners, according to data from Mercantile Trust. Broker buy-to-let and bridge lender says 55% of intermediaries regularly experience difficulties when trying to find financing for new BTL customers, following an online survey. He adds that half of advisors had similar problems obtaining loans for BTL clients with …

According to Bluestone Mortgages, about 42% of people generally underserved by lenders don’t even apply for a mortgage, despite describing their situation as financially secure. The report finds that among those often underserved in the mortgage market – the self-employed, those with poor credit history or none – around 26% have not tried buying a …

Just Mortgages has entered the equity release advice market. The broker has trained 13 qualified and licensed independent advisers to offer advice on stock release products. The new proposal follows a successful trial, and Just Mortgages will offer an intensive academy for independent brokers who wish to advise on equity release. The training was also …

Foundation Home Loans has launched an exclusive buy-to-let range for expatriate homeowners. The broker-only lender says its Foundation’s Expat products are available to non-sspecial purpose vehicle sole proprietors who are UK nationals living as expatriates, as well as borrowers from limited liability companies. The range covers standard BTL, short-term rentals, multi-occupancy homes and green options …

WEST HARTFORD, CT /ACCESSWIRE/February 23, 2022/ new money, a leading technology company that provides rapid funding to real estate investors, today announced the launch of its new Decentralized Finance (DeFi) Securitized Mortgage Fund (“Fund”). The Fund will enable accredited investors in the United States, as well as across the world, to gain exposure to a …

Over 50-year-old mortgage lender LiveMore Capital has secured a £275m funding line with NatWest Markets. The funding will facilitate the growth of LiveMore’s portfolio and the origination of loans for interest-only mortgage products. The lender says it is now able to reinvent end-of-life mortgages and “mobilize the entire financial services industry towards fairer and more …

The government’s plans to solve the siding scandal penalize small rental landlords and are based on “lazy and false assumptions” according to critics from the National Residential Landlords Association. The reprimand follows comments by Housing Secretary Michael Gove to the Select Committee on Upgrading, Housing and Communities. Gove has confirmed that landlords who let more …

The Suffolk Building Society has launched new two and five year 95% LTV patches. The products, aimed primarily at the first-time buyer market, will also include independent candidates and those looking to buy a new home. The rate on the two-year contract is 3.25%, fixed until April 30, 2024. After this period, the rate reverts …

Shutterstock/Photobank.Kiev.UA Many buy-to-let (BTL) professionals are optimistic about the market outlook after a strong 2021. Mortgage strategy cited good mortgage availability, easing criteria and low rates as reasons for their optimistic outlook. This positivity is despite tougher tax conditions for homeowners and the threat of additional costs to improve the energy efficiency of homes, which, …

February saw the largest monthly increase in house prices – in cash terms – according to the latest Rightmove property index. According to this property index, asking prices in February hit a record high of £348,804, an increase of £7,785, or 2.3% from the previous month. Asking prices are now 9.4% higher than a year …

The highest annual volume and value of mortgage loans to borrowers aged over 55 since 2014 occurred last year, according to UK Finance’s latest quarterly end-of-life mortgage report. The report says there were 187,120 new mortgages to borrowers aged 55 and over taken out in 2021, totaling £28.1bn over the year. This represents an 11% …

According to Canada Life, about one-third of over-55s with private pension plans plan to free up equity in their primary residence to help fund their retirement. The financial services giant says its survey shows 30% of this near-retirement group plan to use their homes to provide cash once they stop working. He adds that over-55s …

Santander says its mortgage customers have overpaid £335million on their mortgages so far this year, or more than £47.5million a week. The bank points out that these overpayments, which are 50% higher than overpayments made at the same time last year, can have “a significant impact” on the interest that owners pay throughout the term. …

After a frenetic year that consistently exceeded expectations, it’s invigorating to look at 2022 with fresh eyes and assess what the market should be preparing for in the months ahead. Last year was characterized by a surge in sales fueled by the stamp duty holiday and second home buyers. Naturally, this has led to a …

Atom Bank has launched several exclusive two-year fixed rate quasi-premium product offers for Sesame Network advisors. The app-only lender indicates that the products are available in different LTV ranges, such as a 75% LTV option with a rate of 2.89% or a 70% LTV product with a rate of 2 .74%. He adds that customers …

Paragon Bank has doubled the period that buy-to-let customers can lock in a mortgage rate from three months to six months. It says it will offer brokers a 0.30% proxy fee for each product change they present to the lender. The company sells a range of two- and five-year fixed rate products aimed at those …

Bob Young, Managing Director of Fleet Mortgages has announced that he will be retiring in April. Young and his management team launched Fleet Mortgages, a buy-to-let specialist, in 2014. He will be replaced by Mike Lane, currently Chief Operating Officer of Fleet. Lane has been with Fleet since 2014 and was part of the management …

A total of 6,535 properties were bought with the new government help to buy a mortgage guarantee scheme between April and September this year. The latest data — covering the period from the launch of the program on April 19 to the end of September — shows that 84% of these mortgages were taken out …

Atom Bank has raised over £75m in funding as it plans to float. The funding led by BBVA and Toscafund with co-investors Infinity Investment Partners follows a £40m raise in April 2021 and brings the total raised by the app-based bank in the last 12 months to 115 million pounds. The digital bank says its …

Inflation measured by the consumer price index (CPI) increased slightly in January, from 5.4% in December 2021 to 5.5%. This set a record 12-month inflation rate since records began in 1997 for the second consecutive time and, extrapolating backwards from there, it is the highest reading since March 1992, when inflation reached 7.1%. Earlier this …

The cause of renewed investor interest is the search for an alternative to low savings and fixed bank rates, especially among retirees looking for regular, reliable payments that offer a return above inflation. The annual return of an average $100,000 term deposit account is $520 (or 0.5%). The return on the same amount in an …

More than half – 52% – of mortgages in 2021 were on a five-year solution, LMS’ annual mortgage report shows. Meanwhile, 37% of mortgages taken out were of the two-year type and only 2% at a 10-year fixed rate. Overall, mortgage activity increased in 2021, “with a steady increase in instruction and completion volumes following …

Affinity Mortgages will now be able to offer Proportunity equity loans to its clients, following the lender’s addition to Proportunity’s panel of brokers. The loans, which help people with limited capital to move up the property ladder, are available to first-time buyers and existing homeowners. Loans are made through brokers only, up to a value …

Australian fintech PEXA is launching into the UK property market this year, with a solution originally designed for the country’s mortgage industry. The solution will focus on mortgages in England and Wales and aim to streamline the process for mortgage lenders, solicitors and transfer agents. The company said it was aiming to drastically reduce the …

The mortgage lender (TML) reduced the number of tiers for its residential products to four and removed its underwriting cascade for potential borrowers with unsecured arrears. According to the lender, this will make it easier for brokers to place cases for customers with credit issues. In the residential range, up to 75% LTV, rates now …

Without wanting to sound like a broken record, 2021 has been another year of uncertainty for all of us, owners included. However, amidst the closures and the alarming rate of inflation, there was something to celebrate for real estate investors! Helped in part by demand initially sparked by the stamp duty holiday, house prices have …

Landlords are buying greener properties before the government legislates in this area, meaning tenants can pay lower utility bills than owner-occupiers, saving up to £844m a year, according to Hamptons. The real estate agent says that so far this year, the share of homes bought by investors with an A to C energy performance certificate …

With vulnerability on the agenda more than ever – particularly in light of the impact of the pandemic on financial security – advisors across the UK are paying even greater attention to how they identify and manage customer vulnerability. As part of our commitment to supporting the financial advice market, more2life launched its latest annual …

Halifax Intermediaries will make price changes to select products for first-time buyers and movers, including affordable housing – share shares and condominiums, on Monday, February 14. The broker-only subsidiary says the move will cut rates by up to 34 basis points on certain fixed-rate products from 85-90% to two-year fixed and five-year fixed-rate offerings from …

Shutterstock/Anna evlanova.ru The real estate market exploded last year, including the buy-to-let (BTL) sector. According to UK Finance, BTL buying activity grew to £18 billion in 2021, a colossal 83% increase on activity in 2020. Meanwhile, Shawbrook Bank’s 2021 Buy-to-Let report found that the value of the private rental sector grew by 5.8% in 2021, …

The mortgage lender cut rates on its buy-to-let range and launched a new product. The company has announced that it has priced its five-year 75% fixed loan to value cash back and fee assisted products, with rates now starting at 3.33% for standard properties and 3.45% for multiple occupancy homes. Both offers come with a …

Aggregator Pivotal Growth has expanded its portfolio with the acquisition of Barn Protection and Mortgage Services. Barn is a brokerage specializing in new home loans, based in Northampton. He has been in business for 15 years. Pivotal Growth was formed in April last year, as a joint venture between LSL Property Services and Pollen Street …

Rising cost of living, chronic housing shortages and rising inflation were highlighted as key challenges for mortgage brokers in 2022. House prices are at record highs and mortgage affordability is tightening due to inflation and the looming threat of interest rate hikes. Energy price spikes also put overwhelming pressure on the cost of living for …

Shutterstock/Kletr April 2025 may seem like a long way off, but this date should stick in the minds of homeowners who own energy-intensive properties. In three years, the government hopes to bid farewell to the multitude of drafty and neglected properties that plague some corners of the private rental sector. It plans to make it …

Jon Cooper, Head of Mortgage Distribution, Aldermore Owners are experts at dealing with change. They’ve had a lot of practice over the past 10 years. But the next hurdle is high. Minimum energy efficiency standards are set to tighten considerably in just three years if the government’s proposals come to fruition. And properties that aren’t …

Danske Bank UK announces that it will extend its range of carbon neutral mortgages in England to flats and flats, including new build, up to a maximum of 85% loan to value. The Bank will now also consider applications where the applicant’s main source of income is from self-employment, up to a maximum of 90% …

The Brightstar Group management team has taken over a majority stake in the company, to buy the remaining shares held by private equity in an all-cash transaction for an undisclosed amount. The transaction, which comes after a banner year for the group, means that the management team now owns a 54% stake in the company. …

Pensioenfonds Provisum has invested 80 million euros in Achmea Dutch Residential Mortgage Fund from Syntrus Achmea Real Estate & Finance. Provisum manages the C&A Netherlands pension scheme and has over 10,000 members. The fund’s assets are managed by Anthos Fund & Asset Management. The Achmea Dutch Residential Mortgage Fund, established in 1997, manages assets of …

The government has finally published its long-awaited white paper on the ‘upgrading’ agenda, courtesy of the Secretary of State for Upgrading, Housing and Communities, Michael Gove. This 2019 election slogan expresses a desire to smooth the gaps in wealth and opportunity, which are currently concentrated in the Southeast, across the country. The government says it …

Coming to what is – hopefully – the final round of the Covid pandemic and considering all the changes the past two years have brought to society, the economy and the way we are governed, Mortgage strategy thought it was time to ask a number of lenders what risks they were considering at the start …

“I don’t know about you, but I’m 22.” Yes, a big hello to 2022 and to all of you from Taylor and I. May I be the first to wish you a very happy new year. What? Is it February already? Either way, welcome to a bright new year and I hope you all had …

The Financial Services Compensation Scheme (FSCS) has named 12 defaulting and bankrupt businesses, including a mortgage adviser. Midland Independent Financial Services, formerly The Mortgage Shop, has been listed as one of 12 companies te FSCS believes that they are unable to respond to complaints themselves. Customers who they owe money to may be able to …

Knowledge Bank has added West One Loans buy-to-let criteria to its search platform. West One revamped its buy-to-let loan credentials last month and they have now been included in Knowledge The Bank’s platform, which includes more than 135,000 individual criteria covering more than 270 lenders. West One’s BTL Managing Director, Andrew Ferguson, said: “As a …

Rightmove recorded its busiest January ever with buyer demand up 16% from the same month a year ago, adding there were ‘early signs’ that more homes were coming in in the market to ease the pressure on prices. The real estate website, founded in 2000, saw more than 218 million visits to its site and …

The Bank of England again raised the base rate from 0.25% to 0.5%. This latest hike follows an unexpected rate hike in December, when the base rate fell from a historic low of 0.1% to 0.25%. This latest rate hike is in response to increased inflationary pressures in the economy. The Monetary Policy Committee (MPC) …

The government has announced that it will soon publish its White Paper on Leveling, the overall aim of which is, over a decade, to address and correct the geographical inequality of opportunity and wealth plaguing the UK. “We have one of the largest and fastest growing economies in the world. Ours is the most spoken …

Crystal Specialist Finance has attracted investment from the private company Pagos Holdings I Limited. Pagos has taken a passive minority stake, providing funds that Crystal says will be used alongside its own capital reserves to make acquisitions, “which serve mortgage brokers and professional introducers,” Crystal says. She adds that she is currently in “advanced negotiations” …

Housing demand for the whole of 2021 saw an average of 459 registered house hunters per Propertymark member estate agency – the most since 2004, when the 12-month average was 475. However, although January 21 was home to an average of 38 properties per branch – which Propertymark describes as a healthy situation – this …

Skipton has issued two additional loan products specifically for borrowers who want to make green improvements to their homes. The products come in the form of discounted two-year base rate trackers, one for residential use and one for buy-to-let (BTL). For residential use, the mortgage is available up to 90% LTV and fixed at 1.09% …

Masthaven has announced that he will exit the UK banking market within the next two years. The lender has confirmed that it will sell its mortgage portfolio through a tender process, which is expected to conclude this year. The decision to pull out of the UK was made because the bank was unable to secure …