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Todays Breaking News On Thursday Thursday, October 23, 2014

Shawbrook records strong September turnaround times

Shawbrook successfully processed 97.7% of its short-term applications within 72 hours in September.

Teachers launches 3-year exclusive

Teachers Building Society has introduced an 80% LTV 3-year fix at 3.20% for homebuyers and movers who are teachers and education professionals, exclusively via intermediaries.

LendInvest launches buy-to-let index

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LendInvest has launched a buy-to-let property index to provide a thorough analysis of the market.

StepChange links up with Magellan

StepChange Financial Solutions has been appointed by Magellan Homeloans to advise clients about its specialist range of credit repair mortgages.

Islamic Bank of Britain rebrands as Al Rayan Bank

The Islamic Bank of Britain will change its name to Al Rayan Bank PLC in December subject to shareholder approval.

James Chidgey set for Nationwide departure in 2015

Nationwide

Nationwide senior manager James Chidgey will leave in March to draw his 29-year career with the building society to a close.

Skipton refreshes rates

Skipton

Skipton Building Society has refreshed its range of fixed-rate mortgages.

BBA figures show steadier mortgage market

Blueprint

Mortgage approvals have dropped by 10% for new house purchases and 24% for remortgages compared to the same period last year, BBA figures have revealed.

Sluggish wage growth held base rates

Bank of England

The Monetary Policy Committee held Bank of England base rates at 0.50% due to sluggish wage growth, Nick Dixon, investment director at Aegon UK, has said.

LMS: Remortgage lending up 19pc

Gross remortgage lending increased by 19% to £4.4bn in September, data from the LMS has revealed.

Prime London plateaus

House price growth in Prime London has slowed to 0.5% in Q3 2014 compared to 3.1% in Q2, the Marsh & Parsons London Property Monitor has revealed.


Wednesday Wednesday, October 22, 2014 News

Nationwide offers lowest ever fix

Nationwide has launched a 60% LTV 2-year fix at 1.84% for new buyers and 1.74% for existing customers.

Hinckley & Rugby refreshes range

Hinckley & Rugby Building Society has cut interest rates on two 2-year discount rate mortgages and launched a lifetime mortgage charging 2.19% up to 80% LTV.

Spooky décor puts homebuyers off

Potential homebuyers can get spooked out by some decorating choices from sellers, Move with Us research has revealed.

SPML wins milestone sale-and-rent case

Southern Pacific Mortgage has won a landmark legal case against a group running a sale-and-rent back scheme.

Mortgage Intelligence launches Leeds exclusive

Mortgage Intelligence Holdings has launched an exclusive 3.79% 5-year fixed rate mortgage up to 85% LTV with Leeds Building Society.

MPC vote 7-2 to keep rates at 0.50pc

Two members of the Monetary Policy Committee voted to raise the Bank of England base rate by 0.25%, the minutes from the latest MPC meeting have revealed.

Two-thirds of adults with children lack Wills

Nearly two-thirds of adults with children in the household do not have a will, a recent YouGov survey commissioned by law firm Thomas Eggar has revealed.

Home insurance premiums fall

Home insurance premiums have fallen by nearly £20 over the last 12 months on average, the AA British Insurance Premium Index has revealed.

First-time buyers ‘hear what they want to hear’

First-time buyers have a habit of hearing what they want to hear when it comes to affordability, senior technical manager of John Charcol Ray Boulger and market analayst Kate Faulkner have warned.

Adults living at home cost £1,200

Parents with adult children living at home have to come up with an additional £1,200 per year, research from Scottish Widows think tank Centre for the Modern Family has revealed.


Tuesday Tuesday, October 21, 2014 News

Buy-to-let celebrates 18-year milestone

The buy-to-let sector is celebrating 18 years since its inception today.

MortgageBrain launches Anywhere

Mortgage Brain has launched MortgageBrain Anywhere which allows advisers to use its sourcing software on multiple devices.

NatWest hires six BDMs

NatWest has appointed six business development managers, with two operating in the field and the other four over the phone.

Blacks scoops Yorkshire Legal Awards prize

Blacks Solicitors has won the ‘Residential Property Award’ at the Yorkshire Legal Awards held at New Dock Hall, Leeds.

Brightstar expands team

Brightstar has appointed Nicholas Christofi as a business consultant for its commercial team.

Carney investigates Bank of England crash

Bank of England Governor Mark Carney has launched an investigation into yesterday’s system crash which put all mortgage transactions on hold.

September slowdown reflects market uncertainty

September’s slowdown in mortgage lending reflects wider uncertainty in the market, Charles Haresnape, managing director, mortgages and commercial lending at Aldermore, has said.

One in three have problems with wills

One in three families and friends find it difficult to trace all the assets left in wills, research from willsandassets.co.uk has revealed.

Equity release lending breaks £1bn barrier

The value of equity release lending has surpassed £1bn for the first nine months of 2014, figures from the Equity Release Council have revealed.


Monday Monday, October 20, 2014 News

BoE fixes technical fault

The Bank of England has fixed the technical issues which halted mortgage transactions this morning.

BoE technical fault halts mortgage transactions

Mortgage transactions are on hold due to a technical issue at the Bank of England.

South East set for 5-year boom

The South East of England will see house prices inflate more than any other area over the next five years, Rightmove and Oxford Economics have forecast.

SortRefer launches Scotland conveyancing package

SortRefer has increased its activity in Scotland by launching a conveyancing package for Scottish remortgage business.

EXCLUSIVE: Fleet Mortgages adds L&G to panel

New buy-to-let and specialist lender Fleet Mortgages has added Legal & General Mortgage Club to its distribution panel.

Panacea Adviser upgrades website

Panacea Adviser has upgraded its website with a range of services and features.

Mortgage Intelligence signs up Metro to panel

Mortgage Intelligence has appointed Metro Bank to its panel of lenders.

CML: September lending slows

Gross mortgage lending slowed to £17.8bn in September - 1% lower than the £18bn recorded in August, the Council of Mortgage Lenders has revealed.

Clydesdale and Yorkshire launches mortgage range

Clydesdale and Yorkshire has launched a range of ‘pay your mortgage for a month’ products which offer cashback covering one monthly repayment.

Price war heats up as Barclays slashes rates

A mortgage price war has erupted on the high street as global economic uncertainty continues to push down the cost of borrowing to record lows.

SPECIAL FEATURE: Property is not a ‘get rich quick’ scheme

Derek Bradley, CEO of Panacea Adviser, looks at the buy-to-let market and what it requires to be successful.

Consumer confidence drops

Consumer confidence in the economy has fallen in September, the Lloyds Bank Spending Power Report has revealed.

London rents rocket in Q3

Rents have London increased by £188 in the third quarter of 2014 to reach an average of £2,452 per month, research from Move with Us has found.


Friday Friday, October 17, 2014 News

Berkeley Alexander hires two BDMs

Berkeley Alexander has appointed two business development managers.

Virgin Money delays flotation plans

Virgin Money has delayed plans to float on the London Stock exchange until after October when ‘constructive market conditions allow’.

Santander refreshes range

Santander has reduced rates on a selection of its fixed rate mortgages and released two new fee-free trackers.

BoE: Interest rates to stay lower for longer

Interest rates are likely to stay lower for longer due to the UK’s economically weak state, Bank of England chief economist Andy Haldane has said.

Teachers launches NUT 95pc LTV exclusive

Teachers Building Society has introduced a 95% LTV mortgage exclusive to National Union of Teachers members.

Fixed rate popularity falls

The proportion of homebuyers opting for a fixed rate mortgage fell to the lowest recorded level in nearly two years in September, the National Mortgage Index from the Mortgage Advice Bureau has revealed.

SPECIAL FEATURE: The long wait is nearly over

Eric Curran, managing partner of DM Hall Chartered Surveyors, looks at the Scottish government’s Home Report review and finds it still has some questions left to answer.

60pc have problems with estate agents

Three in five (60%) homebuyers and sellers have encountered problems with their estate agent over the last five years, a National Association of Estate Agents report has revealed.

Second steppers need £58,000

Second steppers must find an extra £58,000 to fund the move to their second home, the fourth annual Second Steppers Report from Lloyds Bank has revealed.

Industry braced for BoE intervention

More than half (55%) of intermediary mortgage lenders and two in five brokers (40%) expect the Bank of England’s Financial Policy Committee to intervene with the market further, research by the Intermediary Mortgage Lenders Association has...


Thursday Thursday, October 16, 2014 News

Labour unveils 200,000 housebuilding plan

The Labour Party has unveiled plans to build 200,000 new homes per year by 2020.

Mobile transactions on the rise

More than two in five (42%) online users search for and complete financial transactions on mobile devices such as smartphones and tablets, Unique Digital/YouGov research has revealed.

The Apprentice house is streets ahead of the X Factor

The latest Apprentice house is worth £15.5m compared to the Xfactor’s £2.5m mansion, as valued by eMoov.co.uk.

Young people turning to payday loans

Payday loans account for 62% of the high interest credit taken out by the under-25s, Citizens Advice has revealed.

Unemployment sees steepest fall in 40 years

Unemployment has recorded its greatest annual fall since records began 40 years ago, figures from the Office for National Statistics have revealed.

CIH appoints executive director

The Chartered Institute of Housing has appointed Annie Mauger as executive director from February.

London requires long-term housing strategy

London needs a long-term housebuilding strategy to sustain the required levels of property construction going forward, Jamie Ratcliffe of the Great London Authority official has urged.

Housing won’t normalise until 2020

The UK housing market won’t normalise until the end of the decade at least, Christine Whitehead, professor of housing economics at the London School of Economics, has said.


Wednesday Wednesday, October 15, 2014 News

TMA launches mortgage club calculator

TMA has launched an interactive calculator for brokers to compare the value of its mortgage club.

Which? joins Magellan Panel

Which? Mortgage Advisers has joined the Magellan Homeloans distribution panel, enabling its advisers to use Magellan’s specialist credit repair mortgages.

Virgin to press ahead with flotation

Virgin Money plans to go ahead with its flotation on the London Stock Exchange despite Aldermore’s cancellation this morning.

Housing crisis is the nation’s greatest challenge

The housing crisis is the most important issue the country currently faces, David Lammy, MP for Tottenham, has claimed.

Fleet Mortgages confirms distribution

New specialist lender Fleet Mortgages has agreed distribution agreements with six firms ahead of its launch in mid-November.

Conveyancing Association kicks off workshop

The UK’s leading conveyancers are meeting in Leeds today to discuss key issues including money laundering and fracking.

Half of over 40s expect to pay mortgage in retirement

Half of over-40s believe they will still be repaying their mortgage (31%) or paying rent (20%) when they retire, research from specialist insurer Partnership has revealed.

Leeds refreshes 5-year range

Leeds Building Society is refreshing its range of 5-year fixed rate mortgages at 80% and 85% loan to value.

Aldermore scraps float plan

Challenger bank Aldermore has cancelled its plans to float on the London Stock Exchange after a recent slump in the global markets.

TFC Homeloans launch conveyancing service

Specialist mortgage distributor TFC Homeloans has launched a new conveyancing service with RG Solicitors.

Aspiring outright owners must start saving early

Those who hope to own their home outright at some point need to start saving in before 25 if they are to have a serious chance of achieving their goal, a Lloyds Bank study has found.

House price sentiment cools

After staying high and steady for the last year consumer confidence in the housing market has fallen to its lowest level in 12 months, the latest quarterly Halifax Housing Market Confidence Tracker has revealed.

Renting leaves millions of families vulnerable

Millions of families could be putting their financial futures at risk as the number living in rented accommodation grows, a study from Aviva has revealed.