Wednesday Wednesday, January 28, 2015 | RSS Feed

Todays Breaking News On Wednesday Wednesday, January 28, 2015

PTFS link up with Twenty7Tec

Personal Touch Financial Services has become the latest firm to sign up for product sourcing system MortgageSource from Twenty7Tec.

Jo Tuson joins V Loans

V Loans, the specialist secured lending arm of KR Group, has appointed Jo Tuson as a case manager.

L&G Mortgage Club TV launches

Legal & General Mortgage Club has launched a new online TV channel, Mortgage Club TV.

24pc increase size of mortgage to ease living costs

Almost one in four (24%) homeowners remortgaging in December increased the size of their loan by more than £1,000, research from LMS has found.

Fincorp launch fee free refurb loan

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Fincorp has launched a pair of fees or no fees refurbishment loans as it looks to “give customers the choice" when it comes to fees.

Q4 rental voids at yearly low

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The average void period experienced by landlords in Q4 was the lowest recorded in 2014, Paragon Mortgages’ latest quarterly landlord survey has revealed

RBS and NatWest make sweeping cuts

RBS and NatWest have reduced all of their residential mortgage rates and are now offering their lowest ever rates for two, three and 5-year 60% LTV products.

Stamp Duty reforms sees enquiry boost

Stamp Duty reforms helped to boost the middle market and encourage prospective home buyers in December, the latest National Association of Estate Agents Housing Market Report has shown.

Platform launches lowest ever rate

Intermediary mortgage lender Platform has reduced its 2-year residential mortgage fixed rate to a1.59%.

YBS launches 95pc mortgage

Yorkshire Building Society

Yorkshire Building Society has launched a new 2-year 4.49% fixed rate mortgage for borrowers with a 5% deposit.

20pc planning 2015 retirement will have debts

Almost one in five (19%) of those planning to retire this year will do so with debts outstanding, averaging £21,800, research from Prudential has found.


Tuesday Tuesday, January 27, 2015 News

10pc regret buying home

One in ten (10%) of UK home owners regret buying their home according to research from Ocean Finance.

SPECIAL FEATURE: Beware of Greeks bearing gifts

Chris Fleetwood, director of PR firm Paradigm Consulting, wonders which of the multitude of Euro bureaucracies is going to deal with the issue of poor lending to the Greeks.

Wigley joins dragonfly as credit manager

Short and medium-term lender Dragonfly Property Finance has appointed Cattrina Wigley as its new credit manager.

SPECIAL FEATURE: Putting the QE package to the test

Jaisal Pastakia, investment manager at Heartwood Investment Management, says time will tell whether the European Central Bank’s €1.1 trillion quantitative easing package will have the desired impact on the real economy.

Uinsure and LMPS link up for GI

Uinsure has been named as the preferred GI provider for Lighthouse Mortgage & Protection Solutions advisers.

Accord launches 5-year range

Accord Mortgages is launching a number of new 5-year mortgages for borrowers with a 25% or 35% deposit.

Scottish Widows cuts rates

Scottish Widows Bank has made a number of cuts to its professional and flexible mortgage range.

BBA: Market slowdown continues

Banks approved some 35,000 mortgages for house purchase in December as the housing market continued to slow, the British Bankers Association latest figured have shown.

Marsh & Parsons to open Shoreditch office

Marsh & Parsons is opening a branch in London's trendy Shoreditch area this month, adding to its existing network of 22 offices across the capital.

Regentsmead and NFB join forces

Development finance specialist Regentsmead has agreed a partnership with the National Federation of Builders to help its members find finance.

Sesame launches national mortgage conference

Sesame Bankhall Group has announced plans to hold a major new national conference for mortgage advisers.


Monday Monday, January 26, 2015 News

NatWest slashes rates

NatWest Intermediary Solutions is set to introduce four new higher fee/lower rate 60% LTV mortgage deals into its intermediary range from Tuesday.

Omni and Prime City link up for Chiswick development

Omni Capital has joined forces with luxury homes developer Prime City Developments to fund the acquisition of former commercial premises in Chiswick, west London, for conversion into high-end luxury apartments.

Strong support for first and second consolidation

The consolidation of the first and second charge mortgage market gained widespread support amongst those consulted about the forthcoming Mortgage Credit Directive.

Bridging and equity release to remain MCD exempt

Both bridging finance and equity release are to remain exempt from the new regulation following implementation of the Mortgage Credit Directive in 2016.

Paradigm winners announced

Paradigm Mortgage Services has announced the yearly winners of its lender and provider awards.

Government to resist fundamental MCD change

The government has resisted any fundamental changes to its plans on the implementation of the Mortgage Credit Directive following consultation with the mortgage industry.

AMI: Treasury efforts on MCD welcomed

The Association of Mortgage Intermediaries has welcomed efforts by the Treasury to minimise the impact of the Mortgage Credit Directive despite the huge challenges that lay ahead for the FCA.

BSA: MCD offers little or no benefit to consumers

The Building Society Association says that the Mortgage Credit Directive will add “little or no benefit to UK consumers”.

Personal income boost for buy-to-let affordability

Barclays will now allow personal income to be accepted when assessing buy-to-let affordability.

Later Life Academy partners with Legacy Wills

The Later Life Academy has announced a new relationship with Legacy Wills & Estate Planning, the will writing and estate planning experts.

Brightstar appoints first BDM to kick start New Year

Brightstar has appointed Chris Bennett as its first business development manager.

Paymentshield launch home emergency discount

Paymentshield is offering a 50% discount on its home emergency cover which can be purchased as part of its home insurance product.

Julian Harris link up with Largemortgageloans

Specialist large mortgage loans broker Largemortgageloans.com has entered a new partnership with Julian Harris Network.

HLP and MortgageSource team up

HomeLoan Partnership has integrated mortgage sourcing system MortgageSource into its new CRM system.


Friday Friday, January 23, 2015 News

House prices up 8.3pc in 2014

UK house prices ended the year 8.3% up in 2014, the latest Hometrack UK Cities House Price Index has revealed.

Balham is London's 2014 hotspot

Balham outpaced the rest of London in 2014 with 21% annual growth which equates to a whopping £415 a day, the latest London Property Monitor from estate agent Marsh & Parsons has found.

Virgin cuts rates

Virgin Money has reduced the rates on a number of residential mortgages across its intermediary exclusive range.

Remortgage lending up 3pc

Monthly gross remortgage lending saw an increase of 3% in December to £3.7bn, new figures from LMS have revealed.

Barclays sets standard LTI cap

Barclay’s has put a blanket loan-to-income cap of 4.5 times across all its mortgage lending.

EXCLUSIVE: Paul Brett back in the game

Rumours are spreading like wildfire that mortgage ace Paul Brett is back in the market and in situ at a soon to be launched lender, writes Robyn Hall.

Pension reforms offer children a chance

Parents should take advantage of new pension rules to secure children a place on property ladder, according to The Buying Agents.


Thursday Thursday, January 22, 2015 News

Election uncertainty to impact market

Brokers should expect a sluggish start to 2015 as uncertainty around the General Election impacts transaction levels, Countrywide has warned.

HLP adds TFC to panel

TFC Homeloans has been appointed to the HLP broker network’s panel of providers.

92pc of consumers lack protection

Only 8% of 2014 consumers have safeguarded their loans with some form of repayment or income protection – compared to over 17% in 2012, the latest Financial Fragility and Confidence’ report from Cuna Mutual has found.

Purchase approvals see H2 decline

There were nearly 34,000 fewer home purchase mortgage approvals in the second half of 2014 than the first half as the lending recovery stalled following regulatory change, according to the latest Mortgage Monitor from e.surv.

Steve Brennan joins Masthaven

Masthaven Finance has appointed Steve Brennan as head of underwriting for the bridging division and Steve Earthy as group compliance officer.

CML: Gross lending unchanged in December

Gross mortgage lending reached £16.5bn in December as the market remained unchanged on a month-on-month basis, latest estimates from the Council of Mortgage Lenders have revealed.

HLP launches CRM system

HomeLoan Partnership has launched a new client relationship management system for brokers.

Paragon finishes 2014 with B2L flourish

Paragon Mortgages saw a 58.4% year-on-year boost in buy-to-let completions during the final quarter of 2014, the lenders latest results have revealed.

60pc of brokers anticipate H2 rate rise

Three out of five (60%) brokers expect to see the Bank of England raise interest rates in the second half of 2015, a survey from United Trust Bank has revealed.

SPECIAL FEATURE: European QE and the UK market

Carl Hasty, director of SmartCurrencyBusiness.com, looks at the European Central Bank’s quantitative easing programme and its consequences for UK Businesses.


Wednesday Wednesday, January 21, 2015 News

Mortgageforce and Source link up

Mortgageforce has signed an exclusive three year deal with The Source to provide a range of general insurance products to its network of brokers.

SPECIAL FEATURE: Pension ripples reach mortgage market

Gary Little, head of operations and membership at the Society of Mortgage Professionals, say the ripple effect caused by the sweeping reforms announced by the chancellor in the Spring of 2014 still shows no sign of diminishing.

ABI calls for flood management investment

The Association of British Insurers has launched its Flood Free Homes campaign calling for £1bn per year to be spent on managing flood risk by 2025.

iPipeline unveils Solution Builder

Openwork advisers will be able to help customers purchase multiple forms of protection after iPipeline partnered with the network to launch "Solution Builder".

Base rate concerns fall with inflation

The drop in inflation to 0.5% in December 2014 has corresponded with a steep drop in the proportion of consumers viewing interest rates as one of the main barriers to buying a property, the Halifax Housing Market Confidence Tracker has found.

GE Money cuts rates

GE Money Home Lending has cut its rates for new mortgage customers by 0.6%.

Key Retirement appoints COO

Key Retirement has appointed Michael Schaefer as its new chief operating officer.

Masthaven relaunches hybrid product

Masthaven Secured Loans has relaunched its hybrid regulated second charge bridging product following a successful pilot scheme in 2014.

Leeds simplify gifted deposit policy

Leeds Building Society has moved to simplify its policy on gifted deposits for new build homes following consultation with brokers and housing developers.

Deposits reach 14-month high

Mortgage deposits reached a 14-month high in December boosted by reforms to Stamp Duty made in the Autumn Statement, the Mortgage Advice Bureau’s National Mortgage Index has revealed.


Tuesday Tuesday, January 20, 2015 News

Prestige enhances range

Prestige Finance has significantly enhanced both its pricing and lending criteria for prime, near prime and large loan plans.

Nationwide launches market leading 10-year fix

Nationwide has launched a new 10-year fixed rate mortgage at a market leading 2.94% for up to 60% LTV or 2.84% for existing mortgage customers.

Uinsure and Julian Harris partner on GI

Julian Harris has appointed Uinsure as a preferred provider of GI services to its members.

Brunel to hold specialist event in Swindon

Brunel Mortgages and Loans will be holding a specialist loans roundtable event on Wednesday 4th February for brokers to hear first-hand from lenders and the Brunel Team about cases that do not fit the high street.

Rate rise holds no fear for borrowers

Two thirds of borrowers believe they could cope if there was an increase in the Bank Base Rate, a new survey from Loan.co.uk has revealed.

Landlords claim lack of bank support

Over three quarters of landlords don’t feel that banks are enough to support buy-to-let landlords, new research from PropertyLetByUs has found.

Paymentshield appoints new CFO

Insurance provider Paymentshield has appointed Rob Evans to the role of chief financial officer.

Leek BS links up with QTS

Online and mobile banking systems QTS has teamed up with the Leek United Building Society to build a new system for online mortgage applications.

New lending manager for Shawbrook

Shawbrook Bank has appointed Paul O’Hara as a lending manager in its commercial mortgage and loan underwriting division.

Rental block B2L yields reach all-time high

Buy-to-let investors achieved gross yields of 9.3% on multi-unit freehold blocks (MUFBs) in the fourth quarter of 2014, the Mortgages for Business Complex Buy to Let Index has revealed.

Equity Release achieves record-breaking year

The total value of equity release lending reached £1.4bn in 2014 – the largest annual figure since records began in 1992, the Equity Release Council has revealed.