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According to a study by Contact State, consumers are increasingly concerned about the security of their personal information when comparing mortgage quotes online. A Data Control Matters survey of 5,000 consumers found that if only 17% started their search online the last time they searched for mortgage quotes, 34% of the same adults would go …

First-time buyers (FTBs) face quadrupling their deposits on a typical £81,510 home to secure a property as rates remain high, according to The Telegraph. New buyers now need to find a 43 per cent cash deposit if they want to keep their repayments at the same level as when average mortgage rates were 2 per …

UK mortgages are likely to grow by 4% this year, but will soon slow to growth of just 0.7% in 2023, according to EY. It would be the lowest growth rate – valued at £11bn – for this metric since 2011, according to forecasts. The company blames rising mortgage rates and falling household incomes. He …

Owners took out 13,452 new equity release plans in the third quarter, with total loans topping a record £1.7bn, according to the Equity Release Council. The body says this type of loan, among homeowners aged 55 or older, topped 13,000 for the first time, up 8% from the previous quarter. He adds that the market …

MPowered Mortgages has partnered with the Stonebridge Broker Network. Stonebridge advisors will have access to MPowered Mortgages residential mortgage products for primary borrowers. MPowered’s primary residential products include two-, five- and 10-year fixed rate mortgages, including its recently launched line of 85% mortgages. Initial rates on the 85% LTV range start at 5.39%. The lender …

Adverse credit inquiries dominated brokers in the third quarter, according to Primis Mortgage Network. Despite the rising cost of living putting pressure on many consumers, Primis explains that there are still options available for borrowers with adverse credit and those in other complex financial circumstances. In total, the product desk helped delegated advisors (RAs) with …

Liz Truss’s resignation as Prime Minister was welcomed by those in the mortgage industry, with Staton Mortgages director Mike Staton suggesting she only made one correct decision during her term “and she took it today by handing in his resignation”. Truss addressed the country outside Downing Street just after 1.30pm today. In the announcement, she …

Liz Truss has resigned as Prime Minister, following a meeting this morning with 1922 Committee chairman Sir Graham Brady in Downing Street. In an announcement outside Downing Street, Truss said: ‘Our country has been held back for too long by weak economic growth. I was elected by the Conservative Party with a mandate to change …

Rental yields fell 0.8% to 5.4% in the third quarter from a year ago, according to Fleet Mortgages, with landlords having to “bide their time to make future investment decisions”. The North East of England retains its best regional rental yield in England and Wales for the ninth consecutive quarter, down 0.8% on the year …

Mortgage Broker Tools has launched a helpline, giving brokers access to experts who can help them find the best solutions for difficult cases. The search criteria platform says its support team, which collectively has more than 50 years of mortgage experience, is ready to respond to calls quickly, “so brokers can avoid long delays. typically …

West One Loans has created a “roving underwriter” to provide key distribution partners with better case support. The specialty lender has appointed Ann-Marie Tarrant, who is currently an underwriter in the firm’s office, to the new position. Tarrant will visit the company’s key distributors to assist with first and second charge cases, as well as …

In September, Paradigm Mortgage Services celebrated 15 years in business and five years since going public. Bob Hunt and Christine Newell have been with the company since its inception and have seen it overcome many challenges. In fact, it was founded in 2007, in the midst of the credit crisis. In 2017, Hunt, Newell and …

Following Kwasi Kwarteng’s dismissal as Chancellor, We Are Money founding adviser Jonathan Burridge said: “It’s been a complete mess.” Earlier today the former Chancellor confirmed he had been sacked by Prime Minister Liz Truss. Speculation over Kwarteng’s future as chancellor began last night when he completed his trip to the United States a day early …

I don’t know if it’s possible to accurately summarize the last few weeks in the mortgage industry without using expletives…. It hasn’t been easy for anyone, but brokers have been particularly hard hit by the fallout from the Chancellor’s mini-budget, working around the clock to secure rates and calm the nerves of panicked clients. Anyone …

The buy-to-let (BTL) and bridging sectors have always been linked and historically have tended to fluctuate with each other. This is not surprising given that many borrowers use bridge loans to quickly finish their real estate investments before switching them to a BTL mortgage. However, when it comes to interest rates, the two sectors have …

Paradigm Protect has added Cirencester Friendly Income Protection (IP) products to its panel. Paradigm Protect member companies will now have access to Cirencester Friendly IP products. These include My Earnings Protected, which offers enhanced coverage with flexibility and certainty, and Income Assured Enhanced, which offers affordable premiums and coverage to age 70. In addition, Cirencester …

“The cost of living crisis” quickly became a cliché, but for good reason. It is likely that many people will struggle to maintain their standard of living for at least the next two years. It may not be a coincidence that earlier this year Canada Life released data that showed that 20% of capital release …

Vida Homeloans is considering staff layoffs as part of a strategic review as the company aims to bolster its “middle-range experience” and improve access to underwriters. The specialist lender says following its review “a number of roles have been identified as being potentially at risk of redundancy and Vida has therefore entered a 30-day consultation …

Monthly construction output rose 0.4% in volume terms in August, according to the Office of National Statistics. The latest data showed it was the second consecutive monthly growth after the upward-revised rise of 0.1% in July. August was also the second highest monthly value level at £15billion, with May remaining the highest since records began …

More than 1,600 mortgage products were withdrawn immediately after Kwasi Kwarteng’s speech as borrowers worried about interest rates So if you’re an anxious potential borrower – or a mortgage payer wondering what you’ll do when your current contract ends – how long does a mortgage offer last? Here’s what you need to know. Mortgage rates …

Mpowered Mortgages has expanded its prime residential offering by launching 85% loan-to-value (LTV) mortgages. The new 85% LTV range will be available on its prime residential products, which include two-, five-, and 10-year fixed rates with repayment options, free valuation, and rolling end dates. Initial rates on the 85% LTV range start at 5.17% for …

The government may reverse the abolition of evictions under Section 21, according to the Times. The government has published its white paper on the fairer private rental sector in June with plans to ban evictions under Section 21, as well as other proposals. “No-fault” evictions under Section 21 currently allow landlords to terminate leases without …

Sometimes you really don’t know where to start; usually when the experience you or others have had defies logic. Like, for example, when someone is so determined to do something that they are ready to destroy an entire economy with it. When I was studying economics in high school, I was pretty naughty and was …

Mortgage Magic has launched an online chat feature that allows brokers to contact clients on its digital platform. The company says its platform can automatically create a chat group – through its customer relationship management system – that includes customers, the mortgage advisor and mortgage administrators working on individual cases, “which makes it easier to …

Big bank bosses plan to raise concerns about rapidly rising mortgage rates with Chancellor Kwasi Kwarteng at a meeting today (October 6). The critical meeting is expected to bring together chief executives from the UK’s biggest lenders, including NatWest’s Alison Rose, Lloyds Banking Group’s Charlie Nunn, HSBC UK’s Ian Stuart, Santander’s Mike Regnier and TSB’s …

Just under a third of homes received an offer within an hour of visiting this year, or 31%, underscoring the current shortage of supply, according to data from MPowered Mortgages. This compares to 7% of properties receiving an offer within 60 minutes in 2018. The fintech mortgage lender adds that the number of properties receiving …

West One Loans has launched a range of prime residential mortgages which it says are “aimed at borrowers underserved by high street lenders”. Its range is open to first-time buyers, movers and mortgage customers who have typically been unable to obtain financing from traditional lenders. The specialist lender says it will cater to those with …

Hampshire Trust Bank has relaunched its transition business after creating a new team to work in this area. The department is headed by Jamie Jolly, who joined the bank as head of bridges in August from bridge lender SoMo, where he was managing director. Jolly has over 20 years’ experience in financial services and was …

You took on this role during the summer of 2020, a difficult year. How did it go? I started two years ago almost to the day! Time flies when you’re having fun. I relished the challenge and really enjoyed seeing the organization from a different perspective. My main goal in 2020 was to continue to …

The Scottish Landlords Association has said it is considering legal action against the Scottish Government’s decision to freeze rents for private and social tenants amid the cost of living crisis. The Cost of Living (Tenant Protection) Bill is being debated in the Scottish Parliament today, having been first announced by First Minister Nicola Sturgeon on …

Crystal Specialist Finance has launched a new website that upgrades its digital submissions, allowing brokers to submit their cases digitally and speeding up review times. The retailer says that in addition to improvements to its Crystal HUB tool, the site has been redesigned to make it easier to navigate and to feature the latest offers …

(MENAFN-AzerNews) By Loans amounting to 2.28 billion manats ($1.34 billion) were granted through the electronic system of the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan, the director of the MCGF Mortgage Department Rasim Abdullayev during a media training. According to Abdullayev, a total of 90,000 (online cabinet) accounts have been created, 36,500 active life …