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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 …

Precise Mortgages is set to expand its home improvement buy-to-let (BTL) range to offer new exit products. Previously, the product combined short-term financing with the security of a long-term exit, but new options are now available, depending on the type of renovation work being done. The products are designed to help brokers and their clients …

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 …

Mortgage Advice Bureau (MAB) has partnered with Yuno, demonstrating its investment in the buy-to-let (BTL) industry. The agreement, which was reached in June, will benefit rental agencies and private owners to keep up with the ever-changing legislation. Launched in February 2020, Yuno. uses technology to track and map changes in the market, with the aim …

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 …

Norton Broker Services has added TAB to its panel of lenders. The agreement will allow brokers using Norton Broker Services to access a range of residential and commercial first and second load bridging loans, development finance and renovation products from TAB. TAB, which launched in 2018, has developed a lending model that allows it to …

Describe your business in a few sentences Lofti is the UK’s first three-in-one property management platform for small to medium sized agents and portfolio owners. The goal is to simplify complex operational tasks that are currently performed using multiple software vendors. These tasks are typically error-prone, time-consuming, require extensive training, and can be expensive, as …

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 …

The Mortgage Climate Action Group (MCAG) has announced its first event, which will be open to attendees from across the industry. The event will take place virtually on August 4 starting at 9:30 a.m. The hour-long event will outline the motivation behind founding MCAG, its philosophy and purpose, explore the current industry landscape, and examine …

Pure Retirement will offer the option of a free energy performance certificate (EPC) to new customers who have chosen a traditional life loan. The initiative will see the survey proposed at the end, which will be carried out by Vibrant Energy Matters. Clients will then receive an EPC, detailing their property’s current energy efficiency rating, …

The Mortgage Lender (TML) has made two new appointments to its London team. Sarah McCawley has been promoted to key account manager for central London while Jo Gee has been hired as a dedicated underwriter. McCawley has worked in financial services for more than 20 years, including as Key Account Manager for Foundation Home Lending …

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 first comprehensive review of the mortgage market in a decade….’ This is according to the government press release following Boris Johnson’s housing market announcements earlier in June. If you thought it sounded like a hodgepodge of measures, designed to try to alleviate some of the sting of a rather tight ‘vote of no confidence’ …

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 …

First-time buyers now need to save an extra £15,000 to buy their first home, according to new research from Mojo Mortgages. Data revealed that the average home buyer saves a £33,000 down payment to get on the UK property ladder, up from £18,000 in January 2021. Mojo Mortgages also analyzed data from its mortgage partners …

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 …

The Saffron Building Society has launched a number of self-build products as part of its summer campaign. Up to 75% LTV, the two-year fixed rebate up to £1 million now has an initial rate of 3.79%, and up to 80% LTV, the initial rate is now 3, 99%. Up to 75% LTV for large loans …

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 …

Mortgage and protection aggregator Pivotal Growth has acquired The Buy to Let Broker for an undisclosed amount. Pivotal Growth was formed in April last year, as a joint venture between LSL Property Services and Pollen Street Capital to buy and build a national mortgage adviser. It is the latest in a series of acquisitions by …

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 …

According to the Bank of England (BoE), the share of households with high cost-of-living-adjusted debt-service ratios on their mortgages has remained well below pre-Global Financial Crisis peaks in recent years. years. The BoE’s Financial Stability Report found that in the first quarter, the share of households with high cost-of-living-adjusted DSRs for mortgage debt was 1.7%, …

Almost two-thirds (63%) of UK homeowners plan to upgrade their property over the next 10 years in a bid to cut their energy bills, an increase of 10% from last June, according to new research from NatWest and S&P Global. The research found that young homeowners, in particular, are considering upgrades as they seek to …

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 …

One Mortgage System (OMS) has partnered with Step One Finance, a specialist second charge lender, to achieve full Application Programming Interface (API) integration. The integration will provide OMS users with direct access to Step One’s loan offering and allow them to make a full decision-in-principle (DIP) without needing to re-enter data. It will integrate 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 …

Mortgage approvals fell 10% in the first three months of the year, according to Bank of England data, as the housing market continued to slow following the surge in activity triggered by the suspension of stamp duties during the pandemic. Approvals reached 65,974 at the end of the first quarter of January. That figure is …

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 …