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Housing supply increased by 232,820 in England in 2021 to 2022, up 10% on the years 2020 to 2021, according to the latest government figures. Net additional dwellings in 2021 to 2022 are 4% lower than their 2019 to 2020 peak and 87% higher than their 2012 to 2013 trough. The 232,820 net additional homes …

UK mortgage approvals are expected to decline this year, due to a 13.4% decline in buyer demand for residential home purchases, according to data from Octane Capital. The specialist lender’s analysis of Bank of England data expects nationwide mortgage approvals to reach “just under” 1.6 million by the end of 2022, with a average of …

Lenders and brokers expect a more stabilized market after the period that saw everyone having to react to changing markets, rising rates and product withdrawals. Speaking on this week’s Lenders Live, hosted by Knowledge Bank, Foundation Home Loans business development manager Mark Whitear said that since September the market has been “frenzied” not just for …

Recently, there has been a crescendo of concern among brokers for homeowners coming to the end of their benefit or fixed rate period. This is amplified in the specialized buy-to-lease (BTL) space, with some lenders actually offering no product transfer (PT) option. In addition to significant increases in lender interest rates, there has been an …

The Land Registry and Registers of Scotland is one of 126 departments that voted to strike over wages and benefits. The Public and Commercial Services Union (PCS) says a strike program will be presented on Friday 18 November unless its conditions are met by the government. “Action involving all members in areas that meet legal …

Vernon Building Society has launched a range of mortgages in an effort to help first-time buyers get onto the housing ladder. The Head Start Mortgage offering is a co-borrower, sole proprietor mortgage combined with a guarantor product. Indeed, it allows one or more family members to accompany a buyer in two ways: by providing security …

(Bloomberg) – Lender Romspen Investment Corp. needs more time to assess the state of the housing market before it resumes allowing investors to withdraw money from its flagship mortgage fund, an executive said. Bloomberg’s Most Read “You have to take careful steps to protect the fund,” managing partner Derek Jenkin said in an interview. The …

Sophie Mitchell-CharmanCommercial director, LoanInvest The past few months have been difficult in the buy-to-let (BTL) market, which will have left many of your landlord clients looking anxiously ahead. As mortgage rates have surged – with few fixed options available – it’s time for brokers to think creatively about how they can deliver the best value …

The latest proposal from the Financial Conduct Authority (FCA) aims to crack down on greenwashing with new measures, including sustainability labels for investment products and restrictions on how green terms such as “ESG”, “green” or “durable” can be used. Greenwashing is an unsubstantiated claim that a product or service is environmentally friendly or has a …

PCF Bank has announced it will pull out of the UK banking market after failing to raise capital and secure strategic options. The lender was looking to raise more significant growth capital and pursued other strategic opportunities, but PCF says it “has now determined that significant growth capital will not be available and strategic transactions …

SHUTTERSTOCK / FAITHIE It’s been just over four years since the first green mortgage was launched by a traditional lender. Meanwhile, green mortgages have slowly gained momentum – helped in 2019 by former Conservative Prime Minister Theresa May’s government’s pledge to make the UK carbon neutral by 2050. If that goal needs to be achieved, …

UTB Mortgages for Intermediaries has made its principle decision-making process available online for all its buy-to-let products, which it says “significantly enhances the existing service and conversion benefits for brokers”. The bank’s broker-only arm says that until recently the majority of its BTL applications were referred for manual underwriting review, but after a successful trial, …

(Bloomberg) – Canadian real estate lender Romspen Investment Corp. halted redemptions of its biggest fund after a number of borrowers stopped making payments. Bloomberg’s Most Read The Toronto-based company will ‘temporarily defer payment’ of redemptions until it has more clarity on when borrowers will repay the loans and the fund can obtain cash from the …

Capital LYNK Capital LYNK Short-term residential mortgages remain an attractive investment alternative with strong risk-adjusted returns We continue to believe that…investments in short-term residential first mortgages – at conservative LTVs and attractive rates – remain a solid investment alternative. — Ben Lyons, Founding Partner and Managing Director of LYNK Capital RALIEGH, NORTH CAROLINA, USA, November …

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It all still seems a bit unbelievable when you reflect on the last few weeks since the former Chancellor’s not-so-mini budget. If this was an episode of The Thick of It, you might have found the whole thing a bit far-fetched. What would be even more incredible is if a Home Secretary had resigned for …

Two-thirds of the housing market is cut off from buyers who are part of a chain, with the majority of sellers now wanting a chain-free process, says MPowered Mortgages. On top of that, “buyers who are part of a chain can expect to pay more to land their ideal property,” says the home lending platform’s …

Borrowers who remortgaged in September saw their average monthly payment jump by £236, according to LMS. The conveyancing services company’s monthly Remortgage Snapshot adds that 50% of borrowers increased their loan amount last month to an average of £21,933. The average mortgage amount in London and the South East was £279,689, while the average for …

The Association of Mortgage Intermediaries has launched a five-point protection action plan to ‘propel the industry forward, at a time when the UK consumer needs our advice and solutions more than ever’ . The plan is part of the body’s third annual report on protection in the mortgage industry, called The Great Protection Shift, produced …

Hampshire Trust Bank (HTB) has appointed Chris Daly as managing director of its specialist mortgage lending division. Most recently, Daly held the position of Head of Origination and Real Estate Finance at Secure Trust Bank, lead the formation and development of the Midlands and South creative team. Prior to that, he worked as a relationship …