Black & White Bridging has appointed Robert Owen to its board of directors as a non-executive director. Owen comes from United Trust Bank where he worked for seven years. He was recruited from United Trust Bank to create a new division specializing in home loans for the bank, becoming managing director of the mortgage and …

Accord Mortgages has launched a new range of products for those who have already been refused a mortgage. The intermediary-only lender says the new Cascade Score products were designed to provide an alternative option for brokers whose clients do not meet Accord’s higher LTV scorecard, but meet its standard scorecard. For cases that would previously …

MFS (Market Financial Solutions) has lowered rates on its range of BTL (buy-to-let) mortgages and bridging loan products. Rates on MFS’ BTL mortgage range, which launched in January this year, will now start at 3.29%, down from 3.79% previously. The changes will also allow cumulative monthly payments of up to nine months instead of the …

Shutterstock/ FFIKRETOW The Covid-19 pandemic has wreaked havoc not only on our way of life but, for many people, on their finances as well. Companies that were strong one day fell apart the next, while others had to find innovative ways of working. Vacations, reduced hours and increased debt have become a feature of many …

Precise Mortgages launched a line of residential mortgage products for customers with poor credit profiles, including those with county court judgments, defaults and active debt management plans. The lender says the maximum loan-to-value ratio for customers with lower recent adverse credit levels will increase to 85%. It will reintroduce its broadest acceptable level five junk …

The Conveyancing Foundation has made an appeal for Ukraine by opening its monthly Charity Lotto to members of the public for the first time. Convey Law launched the appeal with an initial donation of £15,000. The Foundation said all funds donated will go directly to the official DEC Ukraine appeal. This brings together 15 of …

The Financial Ombudsman Service (FOS) is targeting a 7% year-over-year improvement in underlying productivity. This targeted increase was announced in its plan and budget for 2022/23 published on March 30. The FOS is going through a process of restructuring through an action plan and hopes that the changes will further improve productivity. FOS has set …

Flexible retirement is becoming more common as more retirees choose to work part-time in the gig economy. According to a new report from Abrn, two-thirds of people retiring in 2022 do not plan to give up their jobs completely. That compares to just over half of those who retired in 2021 and a third of …

I have always been enterprising. I started my first business when I was 17. Since then I have built and sold a £120m valuation business, managed over £400m in private equity, closed over £2bn in secured loans and managed a team of over of 100 people. Overall improvement I founded TAB in 2018. In my …

The number of private rental households headed by someone over the age of 45 will increase by 1.4 million by 2035, according to a study commissioned by Paragon Bank. According to a new study by the Social Market Foundation (SMF), the private rental sector will age over the next decade, as the proportion of young …

The Equity Release Council has made partial loan repayments without penalty a prerequisite for all equity release plans for new customers starting today (March 28). The decision is expected to save equity customers nearly £100 million in interest charges over the next 20 years. The move will help clients lessen the effects of compound interest, …

The past year has seen an increase in the number of “green mortgages” offered to rental owners. Data from broker BTL Mortgages for Business shows that at the start of March this year, 353 green products were now available. This compares to just four products available to owners 12 months prior. The number of products …

The Chancellor’s spring statement served to further reiterate the dire financial difficulties many are facing as their money is stretched harder than ever. At a time when absolutely every penny counts, there is a real need for advisors to help their clients make the best decisions possible for them. In the space of just a …

What is the main focus of your role as UK Mortgage Manager? I lead our mortgage team, which works with and on behalf of all lenders in the sector (banks, building societies and specialists), whatever their size, whether they are general public or more bespoke. We strive to represent them and promote sustainable housing finance …

Hodge is expanding its residential development offering, incorporating lending across the alternative residential asset class, including student housing and retirement residences. The provider says the change comes in response to demand from its clients and brokers seeking funding in this asset class. After focusing more on pure residential development over the past two years, Hodge …

According to Evolution Money’s quarterly tracker, more prime borrowers are taking out second mortgages. It says the split of second-load proceeds by mortgage volume is 73% for traditional debt consolidation borrowers, compared to 27% for primary borrowers in the three months to the end of February. By value, the spill was 63% of debt from …

As we begin to see the effects of the global pandemic wane, we face a new challenge that will affect us all again: the rising cost of living. And brokers now have a real opportunity to demonstrate the value of advice. The term “advice” has never been more widely used than it is today, but …

Online mortgage company Habito is now offering longer-term fixed rates for homeowners at seven and 10 years. The company says these fixed rate terms would be offered at both 80% LTV and 85% LTV. And a new product at 85% across the full range of terms has launched for properties with an Energy Performance Certificate …

The threshold was supposed to increase by £300, but it will increase by £3,000 instead. This is a £6 billion tax cut for 13 million people, or £330 a year. “This is the biggest tax cut in a decade,” Sunak said. He added that 70% of workers will see their taxes reduced by more than …

Today’s spring statement was a low-key affair on housing policy, but Chancellor Rishi Sunk announced a zero VAT cut for energy efficiency improvements. Industry figures were quick to make their views known. Keystone Property Finance managing director Elise Coole is pleased with the news but has some reservations. She says: “While this is a step …

OSB Group is set to create a high net worth client management team across its lending brands. Simon Cockerill, head of intermediate sales development, will lead the team that will work on all of the group’s brands; Precise Mortgages, Kent Reliance for Intermediaries and InterBay. Marc Callaghan, who left OSB Group to join Shawbrook in …

Buy-to-let (BTL) lender Landbay has joined White Rose’s panel of lenders, giving White Rose representatives access to Landbay’s range of BTL mortgage products. White Rose is a Yorkshire-based finance broker that offers investors and new owners a ‘complete route’ to BTL products. Its members will now have access to Landbay’s product lines, including its green …

The Mortgage Advisory Bureau (MAB) is integrating the full range of LV= Flexible Protection Plan products into its Protection Panel from April. MAB Advisors previously had access to LV= Income Protection Plans, but will soon be able to select LV= Life Insurance and the LV= Life and Critical Illness Combination Coverage range individually or as …

BuildLoan has launched a new range of products with the Darlington Building Society, offering mortgages of up to £1.5m on self-built homes. The bespoke mortgage distributor says the partnership will offer clients who want to build their own property, either independently or on one of the many self-build sites, up to 85% of their project …

The UK branch of investment fund Elliot Advisers has taken a majority stake in specialist lender Enra Specialist Finance for an undisclosed sum. Elliott acquired its share of the business from management of the lender and Exponent Private Equity, which has owned Enra for five years but will now exit the business altogether. The lender …

Tomorrow (March 17), the Bank of England (BoE) is expected to raise rates again to curb continuing rising inflation. It will be the second rate hike in two months since the central bank’s Monetary Policy Committee voted 5-4 in favor of raising the interest rate from 0.25% to 0.50 %. With another hike expected tomorrow, …

According to the latest data, the number of elderly owners using the release of equity to finance their holidays has tripled. Data from Legal and General Home Finance shows that 20% of withdrawing customers used these funds to travel in the first two months of 2022. This compares to just 7% in the same period …

Specialist lender LiveMore has expanded its operations in Scotland. The lender offers borrowers over the age of 50 retirement interest-only and term interest-only products on terms ranging from five to 30 years and up to 75% LTV. He says the Scottish market is “largely underserved” by big banks and his move to Scotland will open …

Removing stamp duty on the purchase of new homes for rent could create a £10 billion benefit for the government, according to the National Residential Landlords Association (NRLA). The NRLA bases its call to action on research it commissioned from Capital Economics. This work predicts that removing the 3% tax would mean that nearly 900,000 …

We entered 2021 with high hopes for a much better year than 2020. After another 12 turbulent months, however, we welcomed 2022 with cautious optimism, particularly in the housing market, which has seen unprecedented activity due to of the pandemic. A relatively slow January with a return to pre-Covid transaction levels was fleeting. February saw …

Panel members Jeni Browne, Sales Manager, Commercial MortgagesSteve Walker, buy-to-let and residential specialist at The Buy To Let BrokerGreg Cunnington, Director of Lender Relations and New Homes, Alexander HallTony Field, Sales Manager, DynamoMark Pattanshetti, Associate Director, Largemortgageloans.comDavid HollingworthAssociate Director of Communications, London & CountryMatt Tilbury, Senior Mortgage and Protection Advisor, Just MortgagesAaron Strutt, Chief Product …

Pepper Money has launched a range of limited edition home mortgages with reduced fees and £500 cash back. The specialty lender says loans are available on its Pepper 48 and Pepper 48 Light Residential range for purchase and remortgage. The range is suitable for customers who do not have hannounces a county court judgment ohra …

Newcastle Intermediaries, the brokerage business of Newcastle Building Society, is launching a range of mortgage products for self-employed customers with at least one year of financial accounts. To access the products, borrowers must have been trading for a maximum of two years and have at least one year of available financial records. Two-year 2.55% fixed …

Swansea Building Society has launched a new ‘green’ mortgage, available only on properties that have an Energy Performance Certificate (EPC) rating of A or B. The Company says it wants to reward homeowners who buy more energy-efficient homes, with a lower interest rate than its line of standard residential mortgages. There are a range of …

Kensington Mortgages has doubled its secured funding lines to £2.6billion, which it says will support its owner-occupied property lending and buy-to-let business. The specialist lender has secured funding from Lloyds Bank, BNP Paribas, National Australia Bank and Bank of America, boosting its resources by £1.3bn. The new cash consists of an £800million increase to its …

According to research by Bluestone Mortgages, more than a quarter of self-employed people in the UK are considering quitting and returning to regular employment. More than a third (37%) of self-employed people admitted that their situation had deteriorated since the pandemic, with 28% considering giving up self-employment. People between the ages of 18 and 34 …

Net mortgage borrowing has fallen from £4bn in December 2021 to £5.9bn in January this year, according to new figures from the Bank of England (BoE). This figure, according to the BoE, is higher than the pre-pandemic average of £4.3 billion in the 12 months to February 2020. Gross lending also increased from £22bn to …

Just Mortgages has entered the equity release advice market. The broker has trained 13 qualified and licensed independent advisers to offer advice on stock release products. The new proposal follows a successful trial, and Just Mortgages will offer an intensive academy for independent brokers who wish to advise on equity release. The training was also …

February saw the largest monthly increase in house prices – in cash terms – according to the latest Rightmove property index. According to this property index, asking prices in February hit a record high of £348,804, an increase of £7,785, or 2.3% from the previous month. Asking prices are now 9.4% higher than a year …

The highest annual volume and value of mortgage loans to borrowers aged over 55 since 2014 occurred last year, according to UK Finance’s latest quarterly end-of-life mortgage report. The report says there were 187,120 new mortgages to borrowers aged 55 and over taken out in 2021, totaling £28.1bn over the year. This represents an 11% …

According to Canada Life, about one-third of over-55s with private pension plans plan to free up equity in their primary residence to help fund their retirement. The financial services giant says its survey shows 30% of this near-retirement group plan to use their homes to provide cash once they stop working. He adds that over-55s …

A total of 6,535 properties were bought with the new government help to buy a mortgage guarantee scheme between April and September this year. The latest data — covering the period from the launch of the program on April 19 to the end of September — shows that 84% of these mortgages were taken out …

Bob Young, Managing Director of Fleet Mortgages has announced that he will be retiring in April. Young and his management team launched Fleet Mortgages, a buy-to-let specialist, in 2014. He will be replaced by Mike Lane, currently Chief Operating Officer of Fleet. Lane has been with Fleet since 2014 and was part of the management …

Inflation measured by the consumer price index (CPI) increased slightly in January, from 5.4% in December 2021 to 5.5%. This set a record 12-month inflation rate since records began in 1997 for the second consecutive time and, extrapolating backwards from there, it is the highest reading since March 1992, when inflation reached 7.1%. Earlier this …

The mortgage lender (TML) reduced the number of tiers for its residential products to four and removed its underwriting cascade for potential borrowers with unsecured arrears. According to the lender, this will make it easier for brokers to place cases for customers with credit issues. In the residential range, up to 75% LTV, rates now …

Australian fintech PEXA is launching into the UK property market this year, with a solution originally designed for the country’s mortgage industry. The solution will focus on mortgages in England and Wales and aim to streamline the process for mortgage lenders, solicitors and transfer agents. The company said it was aiming to drastically reduce the …

With vulnerability on the agenda more than ever – particularly in light of the impact of the pandemic on financial security – advisors across the UK are paying even greater attention to how they identify and manage customer vulnerability. As part of our commitment to supporting the financial advice market, more2life launched its latest annual …

Rising cost of living, chronic housing shortages and rising inflation were highlighted as key challenges for mortgage brokers in 2022. House prices are at record highs and mortgage affordability is tightening due to inflation and the looming threat of interest rate hikes. Energy price spikes also put overwhelming pressure on the cost of living for …

Aggregator Pivotal Growth has expanded its portfolio with the acquisition of Barn Protection and Mortgage Services. Barn is a brokerage specializing in new home loans, based in Northampton. He has been in business for 15 years. Pivotal Growth was formed in April last year, as a joint venture between LSL Property Services and Pollen Street …

The mortgage lender cut rates on its buy-to-let range and launched a new product. The company has announced that it has priced its five-year 75% fixed loan to value cash back and fee assisted products, with rates now starting at 3.33% for standard properties and 3.45% for multiple occupancy homes. Both offers come with a …

Danske Bank UK announces that it will extend its range of carbon neutral mortgages in England to flats and flats, including new build, up to a maximum of 85% loan to value. The Bank will now also consider applications where the applicant’s main source of income is from self-employment, up to a maximum of 90% …

The Financial Services Compensation Scheme (FSCS) has named 12 defaulting and bankrupt businesses, including a mortgage adviser. Midland Independent Financial Services, formerly The Mortgage Shop, has been listed as one of 12 companies te FSCS believes that they are unable to respond to complaints themselves. Customers who they owe money to may be able to …

The Bank of England again raised the base rate from 0.25% to 0.5%. This latest hike follows an unexpected rate hike in December, when the base rate fell from a historic low of 0.1% to 0.25%. This latest rate hike is in response to increased inflationary pressures in the economy. The Monetary Policy Committee (MPC) …

Kensington Mortgages could be split as five companies fight to buy the £1bn valued specialist lender, according to Sky News. It says challenger lender Starling Bank is bidding against Barclays and another high street lender to buy the Kensington platform, while rival investment houses Pimco and M&G Investments are battling to buy the company’s mortgage …