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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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 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 …

Black & White Bridging has appointed Robert Owen to its board of directors as a non-executive director. Owen comes from United Trust Bank where he worked for seven years. He was recruited from United Trust Bank to create a new division specializing in home loans for the bank, becoming managing director of the mortgage and …

Accord Mortgages has launched a new range of products for those who have already been refused a mortgage. The intermediary-only lender says the new Cascade Score products were designed to provide an alternative option for brokers whose clients do not meet Accord’s higher LTV scorecard, but meet its standard scorecard. For cases that would previously …

MFS (Market Financial Solutions) has lowered rates on its range of BTL (buy-to-let) mortgages and bridging loan products. Rates on MFS’ BTL mortgage range, which launched in January this year, will now start at 3.29%, down from 3.79% previously. The changes will also allow cumulative monthly payments of up to nine months instead of the …

Shutterstock/ FFIKRETOW The Covid-19 pandemic has wreaked havoc not only on our way of life but, for many people, on their finances as well. Companies that were strong one day fell apart the next, while others had to find innovative ways of working. Vacations, reduced hours and increased debt have become a feature of many …

Precise Mortgages launched a line of residential mortgage products for customers with poor credit profiles, including those with county court judgments, defaults and active debt management plans. The lender says the maximum loan-to-value ratio for customers with lower recent adverse credit levels will increase to 85%. It will reintroduce its broadest acceptable level five junk …