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Todays Breaking News On Friday Friday, July 31, 2015

FTBs forgo electricity to buy home

One in five first-time buyers claims they’d be willing to live in a run-down property with no water, electricity or central heating just to secure a foot on the property ladder, research suggests.

Thursday Thursday, July 30, 2015 News

RBS makes Q2 recovery

The Royal Bank of Scotland upped its lending levels by 43% in Q2 2015 year-on-year after a slow start to the year, its half year interim results have revealed.

Bank of Ireland buys Lloyds SME loan book

Bank of Ireland, together with Ennis Property Finance Limited, an entity affiliated to Goldman Sachs and Feniton Property Finance Limited have agreed terms to acquire a commercial loan portfolio from Lloyds Banking Group.

Leeds HR employee completes charity triathlon

A Leeds Building Society human resources professional has completed a triathlon event for charity – raising £550 for Breast Cancer Now in the process.

HSBC launches deals through L&C

HSBC is cutting the cost of its mortgages and making them available to more people through mortgage broker London & Country, HSBC’s second mortgage broker agreement.

Platform cuts high LTV rates

Platform has reduced a number of high LTV rates to 80% and 90% loan-to-value.

Wednesday Wednesday, July 29, 2015 News

Skipton ups lending but profits fall

Skipton Building Society upped its mortgage lending by 31% to £1.919bn in the first six months of 2015 year-on-year but profits fell over the same period.

Goldsmith Williams to advise on company BTL

Goldsmith Williams has launched an advice service for buy-to-let landlords looking to manage their properties through a limited company.

Builders Finance Fund fails to impress

More than half of brokers operating in the field of development Ffnance have no knowledge of the Government’s ‘Builders Finance Fund’ initiative, research from United Trust Bank reveals.

Fleet Mortgages hits the road

Fleet Mortgages has outlined its appearances at a full timetable of summer and autumn adviser road shows offered by its key distributor partners.

TSB extends buy-to-let range

TSB has added to its buy-to-let mortgage range with new 2-year fixed and tracker rates.

Secured loans mostly used for debt consolidation

Three in five (61%) secured loan are being used for debt consolidation based on Clever Lending’s own cases in 2015.

Paragon doubles mortgage business

Paragon Mortgages successfully doubled its mortgage completions in its third financial quarter as the buy-to-let market surged from April to June.

SPECIAL FEATURE: A tax on all your houses

Eric Curran, managing partner of Glasgow-based DM Hall Chartered Surveyors, looks at whether Land and Buildings Transaction Tax is affecting prices across the board.

IRESS launches XPLAN Mortgage

IRESS has launched XPLAN Mortgage – an end to end solution which will eventually integrate mortgage sourcing, advice, activity management and protection sourcing.

SPECIAL FEATURE: Steering conveyancers to victory

Mark Riddick, chairman of Search Acumen, assesses the entwined fate of the introducer and the conveyancer in the next five years.

London commuters save £450,000

London commuters typically save £450,000 on the cost of buying homes one hour away from the capital by rail, research from Lloyds Bank has found.

Homemovers shell out £5,000 more than expected

Homemovers have to cough up an additional £17bn in unplanned costs – as two in five (39%) have to find an extra £5,000, research from MoneySuperMarket has revealed.

Tuesday Tuesday, July 28, 2015 News

Virgin mortgage lending up 44pc

Virgin Money lent £3.6bn in the first half of the year, up 44% on the same period last year bringing the lender’s total mortgage book value to £23.6bn.

P2P platform unveils £25,000 interest free offer

Peer-to-peer platform has launched a promotion where one business will receive £25,000 of their loan interest free.

2-year rates still rock bottom

The lowest 60% loan-to-value trackers and fixed rates on the market stood at just 0.98% and 1.05% as of July 1, Mortgage Brain data has found.

Channel 4 doc behind PM's laundering crackdown

Channel 4 documentary From Russia with Cash is behind Prime Minister David Cameron’s comments on foreign property launderers today, senior technical manager of John Charcol Ray Boulger has said.

Roma Finance resolves family feud with buyout bridge

Roma Finance, the Manchester-based specialist bridging lender, has managed to resolve a difficult and complex case involving three generations of a family and a dispute with a major UK clearing bank lasting several years.

Shawbrook loanbook hits £2.7bn

Shawbrook Bank has grown its loanbook to £2,171m, a 17% uplift from £2,331m in December 2014, boosting profitability at the challenger bank by 94%.

Dr Gertjan Vlieghe to join MPC

The Bank of England has appointed Dr Gertjan Vlieghe to the Monetary Policy on a three year term.

LV= seeking new equity release funding

LV= has confirmed it is seeking external sources of funding to allow it to grow its equity release lending in line with rising demand.

Prices surpass pre-crash levels

House prices exceeded pre-crisis levels in June 2015 boosted by 3% monthly price increase in the North East, Land Registry data has revealed.

Keystone’s first three Classic cases

Keystone has transacted its first three cases after launching its new classic range at the beginning of July.

Everline beefs up broker team

Business e-lender Everline has hired Henry Audley-Charles as senior business development manager for intermediaries in the South.

FCA: Sales pressure too aggressive

The Financial Conduct Authority has warned financial firms are still putting too much pressure on sales staff leading to potential mis-selling.

UK grows 0.7pc paving way for rate rise

UK economic growth accelerated in the second quarter of this year by an estimated 0.7% paving the way for the Bank of England to raise interest rates towards the end of the year.

Precise unveils second charge BTL

Precise Mortgages has unveiled its second charge buy-to-let mortgage range with rates starting from 5.95% for prime deals.

PM warns against cancer of dirty property money

David Cameron will crack down on foreigners buying UK homes with plundered or laundered cash as part of a global effort to defeat corruption, the Prime Minister said in Singapore today.

Equity Release market in record-breaking Q2

Equity release lending reached an all-time high of £384.3m in the second quarter of 2015 after over-55 homeowners withdrew £4.2m of housing wealth per day, figures from the Equity Release Council have found.

Monday Monday, July 27, 2015 News

MOD launches tenancy loan scheme

The Ministry of Defence has launched a loan scheme allowing defence personnel to meet the cost of rental deposits.

Earnshaw joins The Right Mortgage and Protection

The Right Mortgage and Protection network has hired ex-Pink head of compliance Gavin Earnshaw as compliance director.

Shawbrook launches ‘simple’ buy-to-let range

Shawbrook Bank’s commercial division has launched a buy-to-let product for simple residential properties which don’t require any works.

Masthaven secures RBS funding for seconds

Masthaven Secured Loans has secured a new funding line for an undisclosed amount from government-owned Royal Bank of Scotland.

House hunter numbers reach 11-year high

The number of house hunters registered per estate agency branch was the highest recorded in 11 years, the National Association of Estate Agents’ June housing market report has found.

Advisers call for IO shortfall equity release

Over 40% of advisers want to see equity release lenders launch more products to help those facing an interest-only mortgage shortfall, Bower Retirement Services has said.

Britons buying in Spain on weak euro

Spain continues to be top choice for Britons buying property abroad, overseas mortgage specialist Conti has said.

Landlords unphased by tax relief cuts

The vast majority of landlords are unperturbed by the cuts in buy-to-let tax relief announced in this month’s budget with just 10% planning to sell up as a result, Barclays has said.

Household property debt hits a trillion

Total household property debt hit £1 trillion in 2010 to 2012, up from £980bn in 2008 to 2010, official figures estimate.

Payday lender agrees £20m redress

Ariste Holding, trading as Cash Genie, has agreed to provide over £20m of redress to more than 92,000 customers for unfair practices.

So-called affordable homes cost £190,000

Purchases using affordable housing schemes cost nearly £190,000 in the 12 months to May 2015 – just 4% cheaper than the typical price paid (£197,500) across the board, research from the Halifax has revealed.

Uinsure launches 5-Star landlord insurance

General insurance provider Uinsure has launched a Defaqto 5-Star rated landlord/BTL insurance policy.

Friday Friday, July 24, 2015 News

Openwork triples operating profit to £5m

Openwork has tripled its operating profit to more than £5m.

Housing market hotting up

Mortgage approvals were around 8% higher in June than at the same time last year, latest data from the British Bankers’ Association reveals.

Heddwyn Richards joins The Right Mortgage Network

Heddwyn Richards, former Head of Development at HL Partnership, has been appointed as national accounts manager for The Right Mortgage Network, in what is set to be the first of several high profile appointments to be announced.

Secure Trust Bank sets aside £100m for COOM launch

Secure Trust Bank’s business and commercial arm has allocated £100m to its commercial owner occupier mortgages (COOM) product.

Halifax refreshes FTB and remortgagor range

Halifax Intermediaries has launched a range of fixed rate mortgages which all have a £795 fee and offer £500 cashback for remortgators, homemovers and first-time buyers.

BBA: Remortgaging increases in June

Remortgaging has increased significantly year-on-year as borrowers lock onto low rates, the British Baker’s Association’s has revealed in its High Street Banking Statistics.

Average mortgagors salary falls to £35k

The typical mortgagor’s annual salary has fallen below £35,000 for the first time in four years as mortgage rates continue to fall, the Mortgage Advice Bureau’s National Mortgage Index has found.

Virgin Money refreshes high LTV range

Virgin Money has trimmed its higher LTV mortgage range – offering a 2-year fix at 4.39% with a £995 product fee.

Thursday Thursday, July 23, 2015 News

Exeter Family Friendly to buy Engage Mutual Health

The insurer Exeter Family Friendly has agreed a deal to purchase the Engage Mutual Health subject to regulatory approval.

Clever Lending moves into B&C finance

Clever Lending, the secured loans master broker, has appointed Steve Sanderson to expand their proposition to include commercial and bridging finance.

One in three letting agents report rent increase

Over a third of letting agents saw rent increases last month, the highest recorded this year, the ARLA June PRS Report reveals.

£6m resi-buy-to-let investment in six months

Almost 3,000 investors have crowdfunded more than £6m worth of buy-to-let property since residential investment platform Property Partner launched in January this year.

AMI: FCA chiefs out of touch

AMI chief executive Robert Sinclair branded Financial Conduct Authority bosses as "out of touch" before it was announced that Martin Wheatley will be axed as the regulator's chief executive in September.