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Mortgage strategy


According to L&C Mortgages, the average of the most attractive two-year fixed rate mortgage transactions is now more than 2% higher than at the start of the year. The low average two- and five-year mortgage rates of the ten major lenders “rebounded” in July, according to the mortgage adviser’s Remortgage Tracker. The average two-year fixed …

When Scott Gentile attempted to purchase a property in Jersey City three years ago, he encountered difficulty. After resigning from his role as vice president at Goldman Sachs, Gentile, 32, founded Crescent Crypto, a company that manages digital currency assets. The majority of his net worth was invested in Bitcoin and Ether. Although Gentile, who …

Begbies Traynor Group has acquired Mantra Capital, a London-based property finance broker, for a total consideration of up to £18m. Following the acquisition, the group will launch BTG Funding Solutions, a financing broker covering a range of sectors. Mantra operates with a team of 23 employees, including two directors in London. The team will bring …

Nearly £6billion has been given in rebates under the government’s Right to Buy (RTB) scheme since the size of the rebate was increased in 2012, analysis by the Local Government Association reveals . The LGA, which represents more than 350 councils in England and Wales, warns the scheme is becoming unsustainable with councils struggling to …

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 …

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 …

CHL Mortgages has launched a buy-to-let renovation range which it says is designed to help landlords improve the energy rating of their rental stock and improve its overall condition. He adds: “The products offer the possibility of releasing the costs of the renovation once completed, without having to change the product.” The range consists of …

Mortgage instructions rose 73% in May, according to LMS Monthly Mortgage Snapshot. The data showed there was a 2% decrease in completed mortgages in May, while the overall cancellation rate increased to 5.6%. LMS Managing Director Nick Chadbourne said: “The numbers show there has been a substantial increase in instructions indicating increased consumer demand and …

The cost of regulation continues to rise, with sensible and responsible companies always having to bear an increasing cost to the regulatory family. By law, we must financially support the Financial Conduct Authority, the Financial Ombudsman Service (FOS), the Financial Services Compensation Scheme and the Money & Pensions Service; in addition, we have other groups …

Right now, we are all battling the challenges of a volatile economy and a squeeze on our finances, thanks to the rising cost of just about everything, as well as rising interest rates. interest. Brokers are facing huge high pressure fronts, with demand soaring as panicked borrowers rush to remortgage. Many are incredibly busy, struggling …

Barclays Bank has bought Kensington Mortgages for £2.3bn following an auction by the specialist mortgage lender. Kensington, which has 600 employees and specializes in offering mortgages to the self-employed and borrowers with more complex incomes, is being sold by private equity owners Blackstone and Sixth Street. It originated around £1.9billion in mortgages in the year …

Pepper Money offers rental borrowers a free energy efficiency survey, which provides an EPC certificate as well as an action plan on how to improve that rating. This offer is available to all current Pepper Money customers who have a rental mortgage in their name. This will exclude those who purchased BTL property through a …

Sirius Property Finance announces that it has launched a flexible financing line for property developers. The specialist debt adviser says it has secured exclusive access to funding that offers experienced developers a development exit to an 80% loan-to-value term product. The product offers developers senior and mezzanine financing up to 80% LTV at a blended …

Homeowners are increasingly concerned about the economic climate and its impact on their household finances, according to research by Trussle. A survey of 2,000 homeowners by the online mortgage broker found that 2 in 5 homeowners (38%) are worried about their mortgage payments given the current rise in living costs, while 1 in 5 ( …

According to research by Royal London, one in 10 people with a protection policy are considering reducing or stopping their premiums due to the cost of living crisis. As prices rise at the fastest rate in 40 years, consumers are looking for ways to cut costs to ease the pressure on their payroll packages. Existing …

Residential property transactions in the UK increased on a monthly basis in May, according to new government figures. On an unadjusted basis, transactions in May 2022 grew to 100,870, 1.6% higher than the previous month but 2.0% lower than May last year, according to HMRC. Meanwhile, non-residential transactions stood at 10,250, representing a 9.7% increase …

Foundation Home Loans has expanded the number of eligible jobs, increased the maximum loan amount and increased the loan limit to the value of its range of business mortgages. The exclusive brokerage lender has expanded its list of eligible professions to include licensed tax advisers, optometrists, radiographers (diagnostics) and podiatrists. The company defines a professional …

The first-time buyer market will reach £73.1 billion by 2024, underscoring its value to the UK economy, according to a Coventry report for intermediaries. The report, titled The First Time Buyer Economy, projects that FTB mortgages alone are expected to reach £69.2bn in two years, 15% above pre-pandemic levels in 2019. These borrowers are also …

The average standard variable rate in June jumped to 4.91%, its highest rate in 13 years after a series of base rate hikes, according to the latest Moneyfacts UK Mortgage Trends Treasury report. Average standard variable rates rose 13 basis points this month from May and jumped 51 basis points from last December, when the …

Digital lender StrideUp targets first-time buyers with the launch of a condominium mortgage product that offers loans up to six and a half times the income. Customers will need a 10% down payment to partner with the company and then make a single monthly payment to cover repayments and rent, effectively borrowing six and a …

The Bank of England has confirmed that it will withdraw its mortgage market affordability test from August. The Financial Policy Committee, part of the BoE, introduced the test in 2014 which specifies a stress interest rate for lenders when assessing the ability of potential borrowers to repay a mortgage. The objective was to “protect against …

I recently had a week long adventure in the Pyrenees. Hiking, canyoning, rock climbing – this is my escape from the hectic world of owning a business that is constantly measured by brokers for its success in delivering clients. Service level agreements (SLAs) and revenue returns are rightly scrutinized against those of our peers. It …

Hodge will close for new business on all of its mortgage products on what it says is a temporary basis from Thursday, June 16. In a note posted on the lender’s website, it says it is currently unable to meet service levels due to record business volumes. Hodge says all tentative decisions must be submitted …

Secretary of State for Leveling, Housing and Communities Michael Gove said that since the pre-pandemic record of 244,000 completions, there have since been “a number of economic headwinds which will make life more difficult to reach the goal of 300,000. Gove’s comments were made on June 13 during the Upgrading, Housing and Communities Committee evidence …

The cost of the average fixed rate over two years is now three times more expensive than last October, according to figures from L&C Mortgages. The recent increase in the Bank of England’s base rate and the expectation of further rate hikes have pushed up the cost of fixed rate transactions in recent months. The …

The Financial Ombudsman Service (FOS) is looking to update its levy structure. In a consultation paper published today (June 14), the FOS is calling on stakeholders to give their views on possible changes to its future funding model. This includes its levy structure as well as its application fee structure. Comments are open until August …

Twenty7Tec to Acquire Bluecoat Software, Mortgage Management, Protection and Wealth Management CRM Solutions Provider Finplan. As part of the acquisition, Bluecoat Software will operate under the Twenty7Tec brand. The combined company, which has nearly 100 employees, will be led by chief executive James Tucker. Former Bluecoat Software Managing Director Mark Skelding will join Twenty7Tec Group …

Newcastle Intermediaries has expanded its range of joint sole proprietorship (JMSP) mortgage products. The extension will see the introduction of a series of five-year fixed rate products available at up to 95% loan to value (LTV). The products are designed to support first-time buyers and borrowers buying a home later in life or as a …

Finova Payment and Mortgage Services has partnered with Hope Capital, a specialist bridge loan provider, to enhance its lending product portfolio. The partnership will allow Finova Payment and Mortgage Service members to access Hope Capital’s bridge loans of up to £5 million for up to 18 months. Hope Capital’s products provide bridge financing to borrowers …

LiveMore has reduced prepayment charges on its range of long-term fixed rate mortgages for the 50-90+ age bracket. The over-50 home lender says new prepayment charges have been shortened on its 10-year, 20-year and fixed-for-life products. It says borrowers now have the option to end the mortgage early after five years without penalty if their …

Lendco has completed its second public mortgage-based securitization worth £384m, which it says was oversubscribed despite volatile market conditions. The broker-only specialist lender says the deal refinances loans secured on residential properties in England and Wales held in warehouse and has been picked up by European and UK investors. The transaction, which was finalized on …

After more than a decade of historically low interest rates, we find ourselves talking about rising rates again. For years we have said that the world of low rates could never last forever, and today, with inflation at its highest level in 40 years, it is becoming clear that we have reached that turning point. …

Searches for lenders accepting applicants with “missed or overdue payments” entered the top five searches on Knowledge Bank’s specialist platform last month, which it calls a “potentially worrying development”. The criteria-tracking firm says the increased use of this type of research follows rising interest rates, inflation and the cost of living, which has led to …

British Prime Minister Boris Johnson’s speech earlier today announced new measures to help more people get on the property ladder, including a comprehensive review of the mortgage market, but the new proposals have not been well received by industry players. In his speech, the Prime Minister set out the government’s commitment to reversing the downward …

United Trust Bank has improved its line of transitional products for heavy renovations and brought together its unregulated team to streamline applications. Rates on the heavy renovation range start at 0.59% with a maximum LTV of 75% for experienced property developers and 0.74% up to 70% for inexperienced borrowers. Experienced promoters must show proof of …

Propertymark has welcomed UK Housing Minister Eddie Hughes’ pledge that the UK government is not considering controlling rents in England. In a written response to a question from Labor MP Rachael Maskell, Hughes said there was enough evidence available to show they would discourage investment in the private rental sector and lead to lower property …

Since the pandemic, the mortgage industry, alongside many others, has shifted to a hybrid working model. Although this model introduced innovative working methods, it also presented challenges. One of these challenges for brokers is the inconsistency of underwriting between market lenders. It has been suggested that the inconsistencies exist because many mortgage underwriting teams are …

James Briggs, Middle Sales Manager, Personal Finance, Together “Just before the New Year, as people set goals for 2022, we surveyed the UK population to understand their property goals for the year ahead and the challenges ahead. The results revealed an ambitious nation – more than half had dreams they wanted to achieve this year. …

Mayflower Mortgage and Finance has launched a new specialist mortgage conditioner for brokers. Mayflower for Brokers will help place self-build and development cases for brokers. In addition, brokers will receive a minimum of 0.4% (up to 1%) as gross proxy fees. The new service can help brokers and their clients understand project budgets, perform project …

Rents are rising across the UK, but the latest data from Propertymark shows demand remains high from potential tenants. Propertymark’s latest report on the private rental sector found that an average of 95 new applicants were registered per member branch in April, an increase from the 78 per branch registered in February. The number of …

The biggest worry for landlords is about legislative changes and future tax changes, according to the government’s latest English survey of private landlords. Respectively, 52% and 50% of the 9,000 landlords and rental agents surveyed gave these answers. The survey also shows that 10% of owners plan to sell all of their properties and exit …

BuildLoan has introduced a short-term mortgage for customers who need to finance the construction of bespoke homes until they move in and sell their old property. The self-build finance and bespoke build specialist says the product – developed with the Buckinghamshire Building Society – is designed to help customers who want to pay off their …

More than four in five homeowners hold at least a quarter of their real estate portfolio in public limited companies, which they say act as a buffer against inflation, according to a survey of Getground buy-rent platform. He found that 81% of owners maintain this proportion of propertyin this form and that 79% of those …

Most owners view their properties as retirement investments, according to the latest English Private Owners Survey 2021. It notes that 54% of owners consider their housing “as a long-term investment to contribute to their retirement”, underlines the report published by the Ministry of Planning, Housing and Communities. This figure rises to 58% among rental owners. …

When the hugely popular TV quiz show, ‘Who Wants to Be a Millionaire?’, was first broadcast in December 1998, less than 1.7% of the UK population were actually millionaires. At last count, almost 5% – more than 2.5 million adults – belonged to this golden category, according to the Credit Suisse Global Wealth Report (June …

Elderly homeowners freed up an average of £111,500 of home wealth in the first three months of the year, data from Key Later Life Finance shows. Data showed plan sales jumped 21.4% in the first quarter of 2022 to 12,551 from a year ago, while the value of new capital released soared 30.5% to 1,399 …

Leather on willow, chorus of dawn to wake you from your slumber, torrential rain falling unexpectedly – these are the sounds of spring. Historically, one could have included banging ‘For Sale’ signs into the ground as the UK property market entered seasonal life. However, given the nature of the offer, many of us would have …

The Suffolk Building Society has promoted Rebecca Newman to chief operating officer (COO) from her former position as chief of staff. Newman takes on the new role from former COO Ian Brighton, who has been named head of credit and mortgage management. His new role combines his previous responsibilities with an additional operational mission, including …

The commercial real estate market is expected to have a positive 2022. The sector is showing signs of growth and investment as it begins to rebound from the negative effects of the global pandemic. Rising investment, both domestically and internationally, is helping, while a return to office work and increased employment and hiring opportunities are …

Bridge and development loan lender Avamore Capital says it has revamped and simplified its product line. The company says its offering will still revolve around four main products: renovation, partial development, and development and bridging. It says that for development loans it is maintaining its fixed rate of 7.75%, which allows brokers to offer “above …

Pivotal Growth has agreed to acquire The Loan Partnership, subject to Financial Conduct Authority (FCA) approval. Established in 2013 by John Webb and Andy Pelley, the Loan Partnership is a specialist mortgage broker based in Hemel Hempstead. The Company is focused on providing mortgage advice for second mortgage loans and bridge financing. The acquisition expands …

Together Financial Services has priced its first mortgage-backed securitization (RMBS) at £349m. Together Asset-Backed Securitization (TABS) 2NDI is the sixth issue in its TABS program since 2017 and the eighth MBS facility overall. It was set at a weighted average cost of 1.96% with an advance rate of 91.6%. Almost three quarters (73.5%) of the …

For some time now people have been saying, “Property prices certainly cannot go up and there will soon be a downturn. But the prices continue to rise. They will continue to do so as long as there are fewer homes being built than there are people willing to buy and as long as gazumping can …

Howard Levy, director of SPF Private Client, announced that he will be performing at Ukraine Aid fundraising event in June. Levy is no stranger to performing for charity after being part of the Mortgage Industry Collective in 2019. He has also played drums for Shania Twain, Queen, and at the O2 Arena, Wembley Arena and …

Financial services platform Stipendium announces that it has launched a mortgage product that ensures homeowners can remortgage an unlimited number of times without brokerage fees for a one-time cost. Its Remerge product costs £99, but the company adds that customers may have to pay additional fees, “depending on individual circumstances such as the fee for …

Never have we been so bombarded with data and had access to so much information to shape and inform our opinions. The situation in Ukraine has highlighted both how access to reliable data and how that data is interpreted are powerful tools in shaping a narrative. With independent news sources and barrier-free global data sharing …

What is the size of the gateway market? Lending data from the Association of Short-Term Lenders (ASTL) – the only trade body dedicated to representing the interests of lenders in the short-term home loan market – is considered the industry standard. At the end of 2021, our data showed a record period for bridge loans …

West One Loans has cut rates on its buy-to-let life tracking range. Lender’s Lifetime Tracker Standard W1 is now available at base plus 2.09%, reduces the cost by 15 basis points, as it was previously a base rate plus 2.24%. West One has also cut rates by 15 basis points on its Lifetime Tracker Specialist …

Holdsworth Financial Managing Director Simon Holdsworth shares his frontline experiences in Ukraine and explains why the mortgage industry’s Ukraine Aid fundraiser will be doing crucial work in the country. I had to go on vacation with my girlfriend to cross theUnited States, but when we saw the crisis developing in Ukraine, we called it all …

Average rent has risen 11% in the UK over the past year according to the latest Zoopla report market index. This means the average rent paid by tenants is now £995 per month, up from £897 last year. for sharers. Figures from Zoopla show that rents have risen fastest in London, with a 15% increase …

Retirement aspirations and financial planning drive clients’ choices for freeing up capital, with nearly a third (32%) wanting to enjoy life more as they age and 28% focusing on planning financial, according to the latest research from Standard Life Home Finance. The research took into account the opinions of 418 people who had subscribed to …

Paradigm Mortgage Services has hired Sarah Blackwood as Senior Relationship Manager. Blackwood will cover Scotland, Northern Ireland and the North East of England and comes from Santander, where she was responsible for business development. In his new role, Blackwood will help build relationships with existing businesses and help Paradigm members grow and expand their businesses. …

Potential borrowers were very confident about getting a mortgage in April, although that sentiment is weakening slightly, according to the latest data from OnTheMarket’s Housing Sentiment Index. Data showed an average of 4% of movers in the UK were concerned in April about getting a mortgage to finance the purchase of their next property, a …

At the time of going to press, the Bank of England’s monetary policy committee had just announced that the base rate would drop to 1%. It wasn’t unexpected, but it’s nonetheless shocking to many who are already struggling financially. And that’s not the end of the increases. Economists predict that the base rate could reach …

According to Loans Warehouse, second charge loans jumped to £140.4million in April from a year ago. Last month’s year-over-year figures were up 80.9% in April 2021, the company said based on data reported to it directly by second-charge lenders. The report adds that there was a 9.7% drop in overall lending volume, but points out …

You could argue that the pandemic has made it harder for Britons to achieve their property dreams in 2022. In fact, 28% of respondents agreed with this statement. The UK study* found that more than half of the self-employed believe their chances of buying or renovating a property (whether for themselves or for investment purposes) …

Beverley Building Society says it cut the rates on its self-built mortgages by 76 basis points as homeowners re-examine their housing needs in the wake of the pandemic. The Humberside-based mutual has cut its rate on these types of home loans to 3.49% For the period of construction, with a maximum loan-to-value ratio of 80% …

According to Knowledge Bank, the high interest rate environment is expected to impact mortgage availability and search criteria. The criteria tracker found that “maximum borrower age” at the end of the mortgage term remains the most common search in the residential sector in April, “suggesting that borrowers are looking to extend mortgage payments for the …

The Home Purchase Assistance Scheme (HTB) was used to finance 8,913 home purchases in the last quarter of 2021, according to government figures, a decline of 41% annually. Overall, since April 2013, HTB has been used to close the sale of 355,634 homes, with the total value of loans made reaching £22bn, the figures add. …

A new customer service guide for mortgage brokers and lenders highlights the need for empathy and “active listening” when dealing with borrowers. The guide, from communications provider Moneypenny, is based on its experience managing customer interactions in the financial services industry. He has targeted this guide to the mortgage industry with the aim of improving …

A broker said Mortgage strategy that the Financial Ombudsman Service (FOS) intends to charge him twice £750 for investigating complaints that were not upheld. Brian Rix of Rix Financial Services says these are the first complaints he has received in 30 years. The first concerns an interest-only mortgage sold 13 years ago. The second concerns …

Well, it’s May and before we know it, the first half of the year will be over. It’s times like these – usually late at night, like at the time of writing – that we tend to take stock and review where we are in this amazing industry. There really hasn’t been a clear year …

Average house prices rose 10.8% year on year in April to a record high £286,079according to the latest Halifax house price index. The rise is down from the 11.1% posted in March, but it is still the tenth consecutive monthly rise in prices, the longest since 2016. The report said: “The real estate market has …