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Todays Breaking News On Friday Friday, November 28, 2014

Beaconsfield has largest market town premium

Beaconsfield in Buckinghamshire is the most expensive market town in the whole of the UK, with prices outstripping others in the county by over £500,000, Lloyds Bank research has revealed.

First-timer buyer market stabilises

The volume of first-time buyer completions fell slightly in October but less than proceeding months, the latest First Time Buyer Opinion Barometer from Your Move and Reeds Rains has revealed.

Virgin Money launches Christmas Cracker draw

Virgin Money will cover one lucky mortgage customer’s payments for a year with its ‘Christmas Cracker’ prize draw.

H2B1 buyers miles off Lloyds lending limits

The typical Help to Buy 1 borrower barely touches the surface when it comes to matching Lloyds Banking Group’s upper lending limits put in place this week, analysis from the Mortgage Advice Bureau shows.

Thursday Thursday, November 27, 2014 News

Aldermore is third highest FLS participant

Aldermore has placed third in a list of participants in the Funding for Lending Scheme, Bank of England figures have revealed.

ARLA: Get ready for the Immigration Act

The Association of Residential Lettings Agents is urging agents to read up on the Immigration Act 2014, which will have a trial run in the West Midlands from next Monday.

Friends Life integrates family carer benefit

Friends Life has become the first ever insurance provider to integrate family carer benefit into its income protection proposition.

Small businesses blast Funding for Lending

The government’s Funding for Lending scheme does not work according to 86% of small businesses who use Funding Circle, its research revealed.

Santander unveils lowest remortgage 2-year fix

Santander is launching its lowest ever 2-year fixed rate remortgage product at 1.84% to 60% loan to value with a £995 fee.

Brokers: lenders should explain regulation

Two thirds (66.4%) of brokers think lenders should take the burden of responsibility to explain Financial Conduct Authority regulation, Shawbrook’s Q3 Broker Barometer has revealed.

Advisers predict protection surge

Advisers expect demand for protection to increase over the next twelve months, research by IRESS has found.

Housing supply and demand levelling off

The balance between homes for sale and the number of potential buyers in the market are beginning to level off, the latest NAEA October Housing Market Report has revealed.

Bridging needs transparency

Offering clients the lowest headline rate available in the bridging market might not be enough to satisfy the regulators desire for more transparency, Beverley Loggia, director of Oliver Rae Associates has warned.

Intelliflo among UK’s fastest growing companies

Intelliflo ranks 61st on a list of the fastest growing companies for the whole of the UK.

Commercial property is best performing asset

Commercial property was the best performing asset in the year to October, providing returns of 20.1%, Lloyds Bank research has revealed.

Unusual Risks launches large mortgage advice service

Unusual Risks has launched an advice service called Unusual Mortgages for consumers looking for large mortgage funding.

Wednesday Wednesday, November 26, 2014 News

UK GDP up 0.7pc

UK gross domestic product increased by 0.7% in Q3 2014 in terms of volume, figures from the Office for National Statistics have revealed.

Fleet unveils product range

Fleet Mortgages has unveiled its initial range of buy-to-let products for individuals, limited companies and HMOs.

Personal Touch appoints Seven Families adviser

Personal Touch has chosen the principal of its member firm Financial Connections Wealth Management Roger Crockford to advise one of the seven families taking part in the charity campaign.

Barclays cuts rates

Barclays has cut rates and expanded its selection of remortgage products, offering a 2-year fix at 1.79% and a 5-year fix at 2.79% to 70% loan to value.

Brokers demand bridging transparency

Offering clients the lowest headline rate available in the bridging market might not be enough to satisfy the regulators desire for more transparency, Beverley Loggia, director of Oliver Rae Associates has warned.

BM Solutions ups new build max LTV

BM Solutions has increased its maximum loan to value on new build properties to 75%.

London demand hots up in Q3

Greater London saw more loans and a higher amount borrowed in Q3 2014 than any quarter since 2007, data from the Council of Mortgage Lenders has revealed.

Industry must help self employed

The mortgage industry must address lending gaps which discriminate against the borrowing needs of the self employed to prevent a crisis developing, the Dudley building Society has warned.

Mortgage brokers missing out on comm business

A large proportion of mortgage brokers are missing a trick by not seizing the opportunities currently available in the commercial finance market, online short term commercial lender ezbob has warned.

Culture of UK banks must change

The aggressive sales culture within banking may take a generation to fix, the latest report from Cass Business School has concluded.

Coventry waives booking fee on BTL range

Coventry Intermediaries is waiving the usual booking fee of £250 so it will no longer be payable on any of its buy-to-let mortgages for a limited period.

Leeds BS to permit s106 lending

Leeds Building Society has widened its criteria to lend on properties with a section 106 agreement from next week, which are arrangements typically made between councils and landowners restricting ownership.

Tuesday Tuesday, November 25, 2014 News

Halifax to offer H2B1 to homemovers

Halifax Intermediaries will offer Help to Buy: Equity Loan mortgages to all homemovers once again from tomorrow.

2014 is the year of the mortgage misfit

A new class of ‘mortgage misfit’ has emerged in 2014 who have been let down by the system, a panel of industry leaders discussed at a roundtable event hosted by Ipswich Building Society.

Supreme Court ruling highlights breach of trust

A Supreme Court ruling in relation to damages for breach of trust claims has significant implications for both lenders and solicitors specialising in the mortgage market, writes Georgina Squire, partner at law firm Rosling King....

Paragon ups B2L lending by 82.5pc

Paragon Mortgages has increased its annual buy-to-let lending by 82.5% for the 2014 financial year ending on September 30.

West Brom ups max loan size to £1m

The West Brom has upped its maximum loan size from £500,000 to £1m depending on the borrower’s deposit.

MTF wins NACFB Award

MTF has been awarded Short Term Lender of the Year by the National Association of Commercial Finance Brokers.

33pc of renters have no insurance

A third (33%) of renters have no form of home insurance to protect their contents, research from The Co-operative has revealed.

Halifax predicts modest 2015 price inflation

House prices are expected to increase between 3% and 5% in 2015, Halifax has predicted in its annual UK Housing Market Outlook report for 2015.

October approvals fall 16pc

Housing approvals fell by 16% year-on-year in October on a seasonally adjusted basis, bba statistics have revealed.

Shawbrook wins second NACFB innovation award

Shawbrook has won the Most Innovative Lender of the Year award for the second consecutive year from the National Association of Commercial Finance Brokers.

Boulger backs 100pc mortgages

John Charcol senior technical manager Ray Boulger has launched into a defence of 100% loan to value mortgages.

Remortgage market back at recession levels

The value of remortgage lending dipped to £3.5bn last month, the lowest October total since during the recession, LMS has estimated.

Monday Monday, November 24, 2014 News

Clydesdale and Yorkshire set for £2bn float

National Australia Bank is planning a £2bn floatation of its UK subsidiary banks Clydesdale and Yorkshire on the stock market, the Telegraph has reported.

Nottingham launches three discount mortgages

The Nottingham has launched three 2-year discounted mortgages from the lender’s standard variable rate.

Brighton is the UK’s gazumping capital

Brighton is the UK’s capital city of getting homes snatched away at the eleventh hour, has revealed.

Personal Touch integrates with eConveyancer

Personal Touch has appointed eConveyancer to its conveyancing panel, integrating its service with its technology platform Toolbox.

IMLA calls for FCA guidance on retirement lending

Lenders require guidance from the Financial Conduct Authority to stop Mortgage Market Review rules from thwarting older borrowers, The Intermediary Mortgage Lenders Association has warned.

SMS adds The Mansfield to lending panel

Packager Solent Mortgage Services has added The Mansfield Building Society to its panel of lenders.

EastEnders is Top of the Soaps

House prices around the locations of the UK’s four long-running popular soap operas have nearly trebled or more over the past 20 years, research from Halifax has revealed.

Try Loans links up with Masthaven

Bridging and buy-to-let broker Try Loans has appointed Masthaven Finance as one of its key partners.

Plymouth is UK’s most affordable city

Plymouth is the UK’s most affordable city to rent in with incomes averaging £30,586 and monthly rents costing around £510, HomeLet’s Rental Index has revealed.

UK homes worth £5.06 trillion

The UK’s private housing stock is worth £5.06 trillion in total after its value increased by 14% in the last year alone, Halifax has estimated.

Friday Friday, November 21, 2014 News

Lloyds is big winner at NACFB awards

Lloyds Bank was the big winner at last night’s annual NACFB awards ceremony as it scooped two awards.

CSA changes could punish borrowers

Late child support payments will have a disastrous effect on borrowers’ credit ratings from March, Andrew Clothier, principal of Wolverhampton-based IFA firm Regents Court Financial, has warned.

Teachers achieves record breaking year

Teachers Building Society’s yearly lending reached record levels, surpassing last year’s total of £48m with over a month to spare.

Resi transactions drop 4.3pc

The number of UK residential transactions fell by 4.3% on a seasonally adjusted basis during October, data from HM Revenue and Customs has revealed.

Broker Conveyancing adds Advantage to panel

Broker Conveyancing has added Leeds-based Advantage Property Lawyers to its conveyancing firm panel after a successful pilot period in October.

Metro Bank slashes rates

Metro Bank has slashed rates on its 2-year residential and tracker mortgages.

IMLA re-elects Charles Haresnape

Charles Haresnape has been re-elected chairman of the Intermediary Mortgage Lenders Association by its executive committee.

City growth trumps earnings

The UK’s top 20 largest cities have all seen house prices grow by at least 5% annually, Hometrack has revealed in its latest UK Cities House Price Index.

Rental growth cools

Rental growth in England and Wales has cooled, increasing by just 1.5% annually to October 2014, the latest Buy-to-Let Index from Your Move and Reeds Rains has revealed.

Thursday Thursday, November 20, 2014 News

England has 700,000 more homes than 2009

England has 700,000 more homes than in 2009 with the number of empty homes at a 10-year low.

Mark Snape steps down from Magellan

Mark Snape, managing director of lending at Magellan, has resigned after less than a year with the credit repair lender.

VitalityLife launches Mortgage Plus Plan

VitalityLife has launched a protection product combining life and mortgage incapacity cover called the ‘Mortgage Plus Plan’.

NatWest cuts 87 products

NatWest has cut rates on 87 mortgage products across its residential fixed, tracker, first-time buyer and buy-to-let ranges.

Masthaven wins best secured lender

Masthaven Secured Loans has been awarded the ‘Best Secured Loans Lender’ at the Personal Finance Society Awards.

Capital Bridging acquires Mayfair

Capital Bridging has acquired bridging lender Mayfair Bridging.

Fleet becomes NACFB patron

Fleet Mortgages has become a full patron of the National Association of Commercial Finance Brokers.

October lending hits £19bn

Gross mortgage lending reached £19bn in October, up from September’s total of £18bn, the Council of Mortgage Lenders has estimated.

Skipton cuts rates

Skipton is today lowering interest rates by as much as 0.56% on its residential 2-year fixed rate mortgage range.

TMW adapts buy-to-let range

From today all existing 60% loan to value products from The Mortgage Works will be made available to customers up to 65% LTV.

Barclays increases support for New Build Sector

Barclays is simplifying its policy relating to builders’ incentives for residential purchase applications.

Prestige enhances strategy

Prestige Finance, the intermediary focussed second charge lender, part of OneSavings Bank, has announced an enhanced proposition, including a new product as well as sharper pricing on its prime product range allied to significant reductions...