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Hodge has launched two bridging loans aimed at experienced small business developers and brokers specializing in development finance. The bank says its acquisition bridge offering is a short-term financing product for developments with or without detailed or proposed use planning permission, where a change in planning or use permit is required, or for agreed developments …

The gap between maximum and minimum average loan size is at its widest since Mortgage Broker Tools began reporting data on this market more than 18 months ago. The platform’s June Affordability Index found that the gap between the minimum and maximum loan offered to an average mortgage customer was over £133,000. That’s around 28 …

Borrowers who remortgaged in June saw their average monthly payment jump by £236, according to LMS. The conveyancing services company’s Monthly Remortgage Snapshot adds that 52% of borrowers increased their loan amount last month to an average of £22,644. The average mortgage amount in London and the South East was £301,982, while the average for …

Rents in the UK rose by 8.21% on average between the second quarter of last year and the second quarter of 2022, according to The Deposit Protection Service (DPS). This equates to average rents rising from £804 to £870 per month. And the jump from Q1 2022 to Q2 2022 came at 2.47% – from …

The Competition and Markets Authority (CMA) has told Monzo Bank it must comply with banking rules after the firm failed to send more than 13,000 customers their transaction history when they left the company. This breach of the Retail Banking Market Investigation Order, described as “just not good enough” by CMA Senior Director Adam Land, …

Mortgage Magic has developed and launched its own electronic identity verification (E-ID) technology. The new technology is available as part of Mortgage Magic’s trading platform for brokers, which enables easy identity verification of their clients. Mortgage Magic says it also makes the technology available to other customer relationship managers (CRMs) and procurement providers through an …

While the real estate market has slowed from last year’s figures during the stamp duty holiday period, “the market is far from quiet”, according to industry professionals. Speaker at the last Lenders Live panel on LinkedIn, which is hosted by Knowledge Bank, Graham Sellar, Santander’s business development manager for mortgages, says: “In the UK we …

Asking prices for first-time buyers and equivalent asking rents have increased three times faster in the past two years, compared to the same period before the pandemic, according to Rightmove. New data from the real estate website says average asking prices ‘for FTB type properties’ – two bedrooms or less – have risen 13%, or …

Stonebridge and Mortgage 1st have extended their partnership with a new long-term contract. The move will allow the Derbyshire-based mortgage advice firm to remain as part of the Stonebridge network as its appointed representative company in a combination that has already spanned more than a decade. Mortgage 1st joined the network in July 2010 and …

More than three-quarters of owners are willing to spend up to £3,000 to upgrade each of their properties to Energy Performance Certificate C to meet new regulations, but the average cost of these upgrades is over £10,000 £, according to Paragon Bank. It revealed that 77% of buy-to-let landlords are willing to spend £3,000 to …

The average number of visits per property fell 29% in June as the number of new buyers signing up per Member Branch in June appears to have echoed the levels seen in the winter months, according to the latest data from Propertymark. The data revealed that the number of views fell from 6.2 in April …

The equity release market is approaching £6billion in new loans this year after a record first half in which the average customer released just over £100,000 in property wealth, according to new data from Key Later Life Finance. The data revealed plan sales rose 24.5% in the first six months of the year to 25,448 …

About a third of realtors and real estate agents say a lack of “mutual respect” between these professionals “prevents them from working together effectively,” according to a Coadjute report. It found that 32% of both professions shared “similar frustration” and agreed that “greater mutual respect would improve the relationship between real estate agents and real …

TSB Bank is set to face a lawsuit worth up to £800million today, brought by customers who claim they were locked into mortgages with ‘excessively high’ interest rates. The legal action will see around 200 homeowners whose mortgages were administered by the TSB’s Whistletree brand claim around £50,000 each in overpaid interest. Today marks six …

Landbay and Phoenix Group have formed a strategic partnership to fund long-term fixed rate mortgages. The new agreement with Phoenix is ​​the latest funding partnership for Landbay’s growth journey. Phoenix adds another type of funder to its existing lineup, which includes banks and asset managers as well as securitization programs. The group’s pension expertise will …

Mortgage Magic has launched an automated onboarding process to give smaller brokerages immediate access to its platform. The automated onboarding process means that brokerages using Mortgage Magic can start using the platform immediately, without the need for complex technical setup or speaking to a sales representative. Mortgage Magic provides brokers with a solution to manage …

Although the market is stabilizing for most of the deal pipeline, deals are lengthening between sale subject to contract (SSTC) and completion, according to the latest market data from Landmark Information Group. The latest report shows that most of the deal pipeline is performing well, with listings, SSTC, and searches deviating no more than 5% …

Lenders expect the availability of secured credit to decline slightly over the next three months to the end of August, according to a Bank of England (BoE) survey. This follows the first three months of the year, when lenders reported that the availability of secured credit to households had fallen, according to the BoE’s quarterly …

Leeds Building Society has introduced new five-year fixed rate products to its mortgage range. The company is adding a five-year, 3.25% fixed-rate product available up to 75% loan-to-value (LTV) as well as a five-year, 3.34% fixed-rate product available up to 80% LTV. Both come with a £999 product fee. In addition, it is launching a …

The mainstream media has agitated the question “Is buy-to-let investment worth it?” pot seriously over the past month or so. Naturally, this scared off a few existing and potential owners. And I understand there’s been a lot of added pressure on investors recently. However, I don’t believe the outlook is so bleak that we are …

Construction output in May rose 1.5% from the previous month, the seventh consecutive month of volume growth to a record high of £15.1bn. May’s increase came solely from an increase in new work, of 2.8%, as repair and maintenance activity fell slightly, down 0.4% on the month, according to the Office for National Statistics. At …

Paradigm Mortgage Services has added Octopus Real Estate to its lending panel. Paradigm member companies will have access to Octopus lending solutions, covering residential, buy-to-let, commercial and development financing. Octopus Real Estate offers residential and commercial bridging loans, pre-approved auction loans, commercial term loans and rental mortgages, including specialized products for short-term rentals, first-time buyers …

NatWest raised rates for new businesses and existing customers by up to 44 basis points. The largest increases are in the lender’s rental and residential products for existing customers. For existing customers, a two-year BTL fixed rate switcher at 60% LTV, increases by 40bps from 3.14% to 3.54%, at no cost. A two-year BTL fixed …

According to industry professionals, the government’s review of intergenerational mortgages does not solve the fundamental problems of the UK housing market. new projects, which were revealed earlier this month, would see homeowners take out 50-year mortgages to pass on to their children upon their death. Although this style of mortgage has been introduced in other …

Brokers are in the midst of a torrid period caused by product withdrawals by lenders. As interest rates rise, slow-to-adapt lenders can quickly become inundated with business they weren’t designed to handle. We hear stories of lenders having to pull out because their back offices are in crisis, leading to another deluge if brokers can …

With the recent heat, we all felt the need to open the windows. But you would never dream of leaving the house without closing them first, lest you lure an opportunistic thief into your home to steal your belongings. Do you also ensure that the “windows are closed” in your company? Or are you inadvertently …

As vendors continue to revise and reassess their product lines, overall two- and five-year average rates have risen sharply this month, according to the latest data from Moneyfacts. The latest Cash Trends Mortgage Report from Moneyfacts UK shows the two have seen the biggest monthly increases since 2007 when it started recording data. The two-year …

With mortgage arrears hitting £2.05bn at the end of the first quarter (Q1) of 2022 – the highest level for 12 years – property professionals expect that figure to rise further this year. Regulated and unregulated mortgage arrears hit historic totals in March, the highest figure since June 2010, when arrears reached £2.09bn, according to …

As an owner myself, would I have any scruples about buying a bungalow to rent? Well, I’ll let you in on a little secret, I’m currently renting a bungalow to a family. Now, in all honesty, a bungalow probably wouldn’t have immediately emerged as the property type of choice when adding to my portfolio. However, …

The Co-operative Bank has launched additional green loan products for its existing customers. Holders of eligible Co-operative Bank, Britannia and Platform mortgages will be able to use the bank’s new energy savings improvement tool, powered by Energy Saving Trust, to create an energy savings improvement plan. personalized energy and access to an additional green loan …

The role of real estate assets has become increasingly important in planning for retirement, reveals a new survey from Aviva. The research, which surveyed 1,507 general consumers aged 45 and over, looked at levels of spending, saving and attitudes towards retirement funding among those over 45. The latest data shows that there has been a …

Gregor Sked, Midstream Development and Technical Director, Royal London. With 95% of UK adults worried about the rising cost of living* according to a recent study by Royal London, are protection policies likely to be scrapped to save a few bucks? Whether it’s the price of fuel at the pump reaching record highs¹ or the …

House prices rose 13% on an annual basis in June, Halifax shows in its latest house price index. This is the highest annual growth rate recorded since the end of 2004. That translates to a monthly rise of 1.8%, itself the biggest monthly rise since the start of 2007, and puts the average house price …

Beverley Building Society has added a 100% Loan to Value (LTV) option, a first-time buyer mortgage option to its family assistance range. The new product will allow family members to temporarily authorize a charge to be placed on their own home as security instead of a deposit. The Home Assistance Mortgage is available at a …

TORONTO–(BUSINESS WIRE)–Romspen Investment Corporation, a leading non-bank provider of commercial mortgage solutions in Canada and the United States, today announced the launch of a new Canadian dollar feeder fund for its primary US mortgage fund. The Romspen US Mortgage Investment Trust will provide qualified Canadian investors with access to the main fund’s US commercial mortgage …

Laurence Morey, CEO of Pepper Money There is no doubt that we live in a very difficult economic environment. The ONS said UK inflation rose to 9.1% in the 12 months to May, the fastest rise in 40 years, and the Bank of England warned that the inflation could reach 11% this year. As a …

According to the latest data from Paragon Bank, the proportion of landlords considering buying their next property to let (BTL) through a limited liability company has reached its highest level in three years. The survey, answered by more than 700 owners and conducted by BVA BDRC, shows that BTL investors who intend to buy their …

According to Moneyfacts, average lifetime mortgage rates hit a six-year high of 5.63%. The financial data group says these loans are at their highest rate since August 2016 (when they were 5.76%), and when there were 88 options in the market. He adds that this is the first time that lifetime mortgage rates have exceeded …

Castle Trust Bank has updated its TermTen buy-to-let (BTL) product as rates continue to rise. The TermTen product has a reservation fee of 0.07%, which the lender says will “lock in” the current rate. The fee is payable when a credit secured policy decision has been agreed and will guarantee the rate for 120 days …

What does your day-to-day role as CEO of Darlington entail? I have overall responsibility for the direction and management of the company. This includes: leading the management team; developing and implementing a strategy; business performance management and risk management; set the tone while respecting our culture and our values; ensure that our employees and members …