Saturday Saturday, November 28, 2015 | RSS Feed

Friday Friday, November 27, 2015 News

The Lending Channel gains award recognition

Commercial finance broker The Lending Channel has gained award recognition over the past two weeks.

Capital Economics: Austerity will continue

This isn’t the end of austerity despite the generosity of the Spending Review and Autumn Statement, a Capital Economics report has said.

Buyers baffled by housing terms

A number of buyers don’t understand basic homebuyer terms such as stamp duty, research from telephone and internet-based bank first direct has found.

Century Capital completes £3.5m in a day

Bridging lender Century Capital lent £3.5m to four borrowers last Friday.

London prices rocket 10.6pc

London house prices rose by 10.6% annually to October 2015, the Land Registry’s House Price Index has found.

Accord reduces 75pc LTV rates

Accord buy-to-let has reduced its 2-year fixed rates to 75% loan-to-value – as products include a 2.19% 2-year fix with a £2,495 product fee.

FTB activity drops in October

First-time buyer activity has slowed in recent months with completions and average deposits both sliding, Your Move and Reeds Rains’ first-time buyer tracker has found.

Thursday Thursday, November 26, 2015 News

Ltd companies gain stamp duty BTL exemption

Limited company buy-to-let investors with a portfolio of more than 15 residential properties will escape next year’s hike in buy-to-let stamp duty, a Treasury spokeswoman has revealed.

Buy-to-let to boom and bust

The buy-to-let market could boom before busting due to the 3% stamp duty hike coming into force in April 2016, experts have said.

Bridgebank completes £9m bridge

Bridgebank Capital’s high value bridging lending arm Quantum has £9.1m short-term loan involving complex off shore ownership structures.

Double appointment for Dragonfly

Dragonfly Property Finance has hired Hannah Mason as operations manager and Sam Wisker as an internal business development manager.

Complete FS expands team

Specialist packager Complete FS has expanded its broker facing teams with the appointment of two new members of staff.

Persimmon commits to building 80,000 homes

Persimmon has committed to building over 80,000 homes and creating 1,000 jobs over the next five years.

FCA hands Barclays record fine

The Financial Conduct Authority has fined Barclays Bank £72,069,400 for failing to minimise the risk that it may be used to facilitate financial crime.

Double appointment for Dragonfly

Dragonfly Property Finance has hired Hannah Mason as operations manager and Sam Wisker as an internal business development manager.

TSB raises rates

TSB has raised a selection of mortgage rates by 0.10%.

PPI claims deadline proposals published

The Financial Conduct Authority has published its proposals to introduce a deadline for making payment protection insurance complaints and guidance on PPI complaints handling.

The £4,600 cost of hiking BTL stamp duty

Buy-to-let landlords would have to pay an extra £4,565 per property purchase in the first three quarters of 2015 if the Chancellor’s 3% stamp duty rise was already in effect, Kensington analysis has revealed.

Mortgage Intelligence signs Bank of Ireland deal

Bank of Ireland for intermediaries has agreed a deal with Mortgage Intelligence to offer its products through its advisers.

Mortgage Brain appoints sales and marketing director

Mortgage Brain has appointed Roger Crocker as sales and marketing director.

Purvey succeeds Haresnape as IMLA chairman

Coventry’s Kevin Purvey will succeed Aldermore’s Charles Haresnape as chairman of the Intermediary Mortgage Lenders Association from 1 December.

ASTL reports bridging slowdown

Bridging lending growth has slowed significantly over the past year, the Association of Short Term Lenders has reported based on responses from its members.

Wednesday Wednesday, November 25, 2015 News

Autumn Statement: CML responds

Responding to the Autumn Statement and Spending announcements is Paul Smee, director general of the Council of Mortgage Lenders.

Autumn Statement: BSA responds

The Building Societies Association responds to today's Spending Review and Autumn Statement.

Autumn Statement: My Home Move responds

Doug Crawford, chief executive of My Home Move, responds to the Autumn Statement and Spending Review.

Autumn Statement: West One responds

Duncan Kreeger, director of West One Loans, responds to today’s Spending Review and Autumn Statement.

Autumn Statement: Hope Capital responds

Jonathan Sealey, chief executive of Hope Capital, responds to today’s Spending Review and Autumn Statement.

Autumn Statement: Stirling Ackroyd responds

Andrew Bridges, managing director of Stirling Ackroyd, has his say on the government’s Spending Review and Autumn Statement today.

Autumn Statement: NAEA responds

Mark Hayward, managing director, National Association of Estate Agents, responds to today’s Spending Review and Autumn Statement.

Autumn Statement: IMLA concerned about BTL

The government is in danger of going “too far” and constraining the private rental sector as buy-to-let landlords remain in the “political cross-hairs", Intermediary Mortgage Lenders Association executive director Peter Williams has said.

Autumn Statement: Countrywide responds

Alison Platt, chief executive of Countrywide estate agents, responds to today’s joint Autumn Statement and Spending Review.

Autumn Statement: Shepherd Direct responds

Shepherd Direct's executive director Rob Clifford responds to today’s joint Autumn Statement and Spending Review.

Autumn Statement: Five pronged housing plan

The government’s housing plan was split into five separate elements by Chancellor George Osborne in today’s joint Spending Review and Autumn Statement.

Autumn Statement: London H2B to launch

The government will launch a London version of the Help to Buy: Equity Loan scheme in early 2016 offering first-time buyers a 40% equity loan on new build homes.

Autumn Statement speech in full

Chancellor George Osborne's Spending Review and Autumn Statement speech in full.

Autumn Statement: Osborne hikes BTL stamp duty

The government will raise stamp duty by 3% for buy-to-let landlords and people buying second homes from April 2016, Chancellor George Osborne has confirmed today.

Amicus and Adapt complete £5.2m deal

Amicus has completed a £5.2m loan with Adapt Finance to purchase a vacant office building with permitted development rights for conversion into residential.

Barclays refreshes range

Barclays has refreshed its mortgage range – as products include a 2-year fix at 3.79% to 95% loan-to-value with no fee.

Brightstar achieves £1bn of lending

Brightstar has managed more than £1bn of lending in four years.

Shawbrook hires senior lending officer

Shawbrook’s commercial mortgage division has promoted Kim Wood to senior lending officer of the short-term team.

Brokers: 3pc rate rise would rock the boat

More than half of mortgage brokers think a 3% base rate rise would rock the housing market.

Government to make £7bn housebuilding pledge

The government will pledge to spend nearly £7bn on housebuilding in today’s Autumn Statement and Spending Review.

Mortgage borrowing hits seven year high

Gross mortgage borrowing in October was £12.9bn, 26% higher than a year ago and the highest since August 2008, figures from the British Bankers’ Association show.

Fincorp reveals plans for sales director hire

Short-term bridging lender Fincorp has revealed plans to hire a new sales director to start in January 2016 and confirmed it is “business as usual” at the lender.

Rent growth slows in Scotland

The rate of rent growth in Scotland has almost halved since the Summer slowing from a 3.1% annual rise in June 2015, research from Your Move suggests.

Tuesday Tuesday, November 24, 2015 News

Paragon doubles buy-to-let lending

Paragon has grown its buy-to-let lending by 102% to £1.33bn over the year to 30 September 2015.

NatWest ups new build incentive allowance

NatWest Intermediary Solutions has increased the maximum limit of builders’ incentives allowable on new build properties from 2% of a property’s purchase price to 5%.

Masthaven and Pure complete deal

Masthaven Finance and specialist intermediary Pure Funding Solutions have completed a bridging deal worth £1.78m.

Later Life Academy appoints new chairman

The Later Life Academy, the commercial and training organisation for later life advisers, has appointed of Bob Champion as its new chairman.

FCA to examine big data in GI

The Financial Conduct Authority has launched a call for inputs on the use of big data in the retail general insurance sector.

Property transactions rise 6pc in 12 months

There were 105,490 residential properties purchased in October compared to 105,740 in September 2015, figures from HMRC show.

Aldermore on board with H2B ISA

Aldermore will get on board with the government’s Help to Buy ISA scheme for first-time buyers from 1 December 2015.

Accord cuts high LTV rates

Accord Mortgages has cut its high loan-to-value rates by up to 30% – as products include a 90% LTV 2-year fix at 2.39% with a £845 product fee for purchase and remortgage.

Building societies take 27pc market share

Building societies took a 27% share of the mortgage market in 2015, above what the Building Societies Association deemed their natural share of 21%.

Borro offers free valuations

Short-term lender Borro is offering free valuations on residential property loans.

Chris Prior joins Bower

Chris Prior has joined equity release firm Bower Retirement Services as it targets further growth in the South East and London.

Landlords chase mortgages on cheaper properties

An increasing number of buy-to-let investors are chasing mortgages on cheaper properties, according to the Mortgage Search Tracker from Mortgage Advice Bureau.

New marketing ops manager for LSL

Carly McCormick, the Economist’s former marketing manager, has become the latest recruit for LSL covering the First Complete and Pink networks.

Hope Capital ups max loan size to £5m

Bridging lender Hope Capital has increased its maximum loan size to £5m with the discretion and ability to increase this further for the right deal.

Monday Monday, November 23, 2015 News

Post Office launches new products

Post Office Money has launched a new range of rates for both its residential and buy-to-let mortgage ranges.

Big banks discriminating against older borrowers

National Counties Building Society has warned that older borrowers are being “discriminated” against by the major high street banks.

Barclay’s welcomes tariff of mortgage charges

Barclays has welcomed the new tariff of mortgage charges which has been launched by the Council of Mortgage Lenders and Which?.

British Friendly moves to simplify IP process

British Friendly Society has upgraded a number of its systems as it looks to make the process of applying for Income Protection easier and more flexible for advisers.

Kensington issues £280m securitisation

Kensington has issued a new £280m securitisation from its Gemgarto programme

London is hardest place to sell

Despite strong demand London is the hardest place to sell a house in the UK, research from online estate House Network has revealed.

haart: House prices up 10.5pc

UK house prices have increased by 10.5% over the last year to average of £224,242, according to estate agency haart’s National Housing Market Monitor.

Rent rises stall in October

The number of tenants that saw their rent rise in October dropped to the lowest level seen this year, the latest Private Rental Sector Report from ARLA has found.

One in three fuzzy about home insurance

One in three don’t know what is covered under their home insurance policy, according to new research from Saga Home Insurance.

Santander signs deal to support deaf customers

Santander has signed an agreement with SignVideo to launch a Video Relay Service for the British Sign Language community.

My Home Move joins Landbay conveyancing panel

My Home Move has joined peer-to-peer lender Landbay’s conveyancing panel.

Stonebridge links up with ULS for wills

Mortgage and insurance network Stonebridge Group has launched a new wills proposition for AR firms via after teaming up with ULS Technology.

Alternative adds Power to BDM team

Alternative Bridging has appointed Danny Power as their business development manager for the North of England.

Which? launch charge tariff

The Council of Mortgage Lenders and Which? are launching a new "tariff of mortgage charges" to introduce a standard format for how lenders communicate their fees.

Friday Friday, November 20, 2015 News

CML and BBA should form super body

The Council of Mortgage lenders should integrate with the British Bankers Association and three other trade bodies to form a “world class trade association”, a review has recommended.

Investec to accept foreign currency income

Investec Private Banking will offer residential mortgages to UK borrowers with income in a foreign currency after the European Mortgage Credit Directive comes into play in March.

eMoov picks London commuter hotspots

Online estate agent eMoov has picked out Bicester, Didcot, Maidstone and Bishop’s Stortford as the London commuter hotspots of tomorrow.

Rents fall in October

October rents in England and Wales fell by 1.2% between September and October but annually remained 4.7% above October last year, Your Move and Reeds Rains’ buy-to-let index has found.

London defies expectations

London house prices have belied commentators’ expectations for the market to flatten out.

Nationwide achieves record half year lending

Nationwide recorded its best ever result for half year mortgage lending in the six months to September 30.

People in dreamland on retirement

Today’s workers expect to retire well before they reach state pension age, research from life insurer Prudential has found.

City growth to hit 10pc by year end

The UK’s top 20 cities recorded house price growth of 9.4% to the third quarter of 2015 – and that percentage will hit 10% by the end of the year, housing and mortgage research firm Hometrack has predicted.