Todays Breaking News On Tuesday 11 March 2014
Aberdeen has the fastest selling properties in Britain, research from Move with Us in conjunction with Home.co.uk has revealed.
Many brokers and lenders predict Help to Buy 2 will finish prematurely despite having had a positive impact, IMLA has revealed.
Monday 10 March 2014 News
Peter Izard, head of mortgages at Saffron, has quit the society.
Zena Campbell, chief operating officer of Firmus Secured Loans, has left the lender as part of its ongoing internal review.
Features include a ‘sky lounge’, complete with Virgin Atlantic first class seats and windows, where customers can recline and take advantage of the in-flight entertainment system.
Newcastle Building Society Intermediary Services has increased procuration fees for brokers from 0.35% to 0.40%.
Think Finance are working with Equifax to optimise its application assessment process.
The proportion of income protection claims paid by Aegon UK increased by 10% last year to 93%.
Demand for London property will only lessen once buyers are priced out, Kate Faulkner, property expert and author of Which? Property Books, has said.
Connect Mortgage Club has relaunched its website to include more tools and services for brokers.
Landlords like to stick with what they know and stay in touching distance to their rented properties, Countrywide Residential Lettings has revealed.
Total Conveyancing Services has joined forces with nine other firms across the UK to develop a new apprenticeship scheme to help people enter the conveyancing profession.
General insurance provider Uinsure has launched a new sales tool to allow brokers to compare products across the market at point of sale.
US based Carrington Holding Company has entered into the British market with the purchase of Scottish residential mortgage brokerage Clear Financial Solutions.
Following recent revelations that only 2.7% of people taking out new mortgages and 5.4% of existing borrowers have financial cover to ensure continuity of their payments if they become unemployed, protection specialist and British Money...
Debt not only affects people’s finances but also their mental health, Debt Advisory Centre says.
Friday 07 March 2014 News
Exeter Family Friendly has vowed to keep taking the message of income protection to the road via adviser seminars during 2014.
Linda Docherty, senior relationship partner for Clydesdale Bank, has been appointed new chair of the Council of Mortgage Lenders in Scotland.
Precise Mortgages has launched a buy-to-let lifetime tracker product for landlords as an alternative to 2-year mortgage deals.
Financial advisers are more confident in the running of their business, the state of the financial services industry as a whole and the introduction of the Retail Distribution Review, Bankhall revealed.
Omni Capital has launched an international structured funding division offering residential and commercial loans of up to £250m.
Almost nine out of 10 consumer credit firms are now registered for ‘interim permission’ with the Financial Conduct Authority.
Regulatory changes from the Mortgage Market Review could reverse the trend of booming second charge business, Keith Aldridge, principal of Capital Bridging Finance, warned.
The short-term lending industry could be sowing the seeds of disaster if competition drives interest rates too low, Colin Sanders, chief executive officer of Omni Capital, has warned.
Legal and General’s MMR matrix has been updated.
Those in the ‘squeezed middle age’ bracket have the biggest need of financial advice, the Equity Release Council has said following a report from think tank International Longevity Centre-UK.
Help to Buy is going as planned, a report from the National Audit Office said.
Thursday 06 March 2014 News
Second charge mortgage lending grew by 47% in January to £44m compared to the year before, figures from the Finance and Leasing Association reveal.
Shawbrook’s commercial mortgages division is launching a range of larger loans products in response to the flourishing buy-to-let market.
Lifesearch recorded healthy financial results for the year ending August 2013, with turnover increasing by 13% to £18.1m and gross profit growing by 37% to £4.5m.
The Bank of England’s Monetary Policy Committee has once again elected to hold interest rates at 0.5%.
A series of mortgage, protection and general insurance road shows across the UK will be hosted by Openwork, focusing on the implications of the Mortgage Market Review.
The Financial Conduct Authority has published its final peer-to-peer lending rules ahead of formal regulation of the industry on 1 April.
Precise Mortgages has relaunched its entire buy-to-let product range for brokers and landlords.
House prices climbed 2.4% in February alone; an eleventh monthly increase in 12 months, the Halifax House Price Index has revealed.
Hertfordshire based second charge lender Spring Finance has secured a £100m bank funding line.
Ezbob are looking to recruit business development managers and a marketing executive.
Connect Mortgage Club and Precise Mortgages are launching two buy-to-let products together.
A shortlist of developments in London, Manchester, Liverpool and Kirklees has been published, all of which could benefit from the £1bn Build to Rent Fund.
Wednesday 05 March 2014 News
The Financial Services Expo, organised by Front Events, is now open for visitor registration.
Rates are beginning to rise on some mortgages in preparation for the Bank of England rate finally rising from 0.5%, where it has stood for five years.
People are struggling to cope with lower pay and higher bills, GMB said based on data from the Office for National Statistics.
Generations of Australians are facing a “lifetime of renting”, a report by Credit Suisse revealed.
Leeds Building Society has launched a new 2-year tracker mortgage with a base rate of +2.49%, rather than the current 2.99%.
Santander for Intermediaries has reduced rates on trackers, including a Help to Buy tracker and its bank exclusives.
Keeping interest rates at a historic low for the past five years has boosted the housing market, yet it has also damaged savers, it was argued.
The Chancellor of the Exchequer George Osborne has been called upon to focus on the supply of homes and mobility in the property market ahead of the 2014 budget announcement.
Omega Commercial is partnering with Oliver Rae Associates, the specialist property capital allowances services provider.
Hodge Lifetime’s Retirement Mortgage will now be available on the Assureweb equity release sourcing system.
Residential development finance lender The Business Lending Group has expanded its team with the recruitment of four new employees.
Home businesses could save up to £1,000 by tightening finances on expenses that apply to almost all small businesses, data from housing insurer AXA Business Insurance has revealed.
Over a third of 18-34 year-olds fail to take out home contents insurance, research from esure has revealed.
Tuesday 04 March 2014 News
SMEs should stop relying on banks for funding in the current risk averse climate and instead look for alternative options, Scott Fletcher, founder of Cloud specialists, ANS Group, said.
Legal & General Mortgage Club will be GE Money Home Lending’s exclusive route to market for Directly Authorised firms.
Online invoice trading platform MarketInvoice has become the latest member of the Peer-to-Peer Finance Association.
Equity release provider Newlife has upgraded its standard Lump Sum Lifetime Mortgage to a new gold edition, combining higher loan to value advances and low interest rates.
Keeping vigilant with an accurate inventory can hold the key to renters receiving their deposit back at the end of their tenancy, the Association of Residential Letting Agents said.
Customers of any occupation in Wiltshire will now be able to take advantage of Teachers Building Society’s mortgage product range.
Buy-to-Let continues to be a popular investment choice, as well as a source of passionate discussion, which was evident at the second Paragon Buy-to-Let Debate held last week in Westminster,
Shawbrook Bank is launching two products to help property professionals make the most of their portfolios through conversion to HMO or by expanding into commercial assets.
Bridgewater Equity Release’s upcoming London Masterclass is set to focus on long-term care, MMR and creating opportunities.
Wesleyan Assurance Society has been named as one of the UK’s top performers for customer satisfaction at the UK Customer Satisfaction Awards.
The value of life and critical illness claims at Aegon significantly increased in 2013 compared to 2012, data has revealed.
Halifax has offered to pay the full stamp duty bill for first-time buyers purchasing properties up to the value of £250,000.
Monday 03 March 2014 News
Cardif Pinnacle has joined the Income Protection Task Force, a body briefed with raising awareness of the value of income protection.
Some 43% of financial services firms plan to take on apprentices in the next five years while 20% of SMEs intend to in the next 12 months, National Apprenticeship Week research has revealed.
The Financial Conduct Authority has revised its Regulated Activities Order following campaigning from the Association of Mortgage Intermediaries.
Prospective sellers must be encouraged to come into the market to prevent the housing market overheating, Aldermore and Countrywide warned.
The Financial Conduct Authority’s measures to regulate payday lending are flawed, Peter Tutton, head of policy at Stepchange, claimed.
Bridgebank Capital has completed a £10.8m bridging loan on a Central London property for a residential developer over the course of just six working days.
Mortgage approvals for new house purchases climbed to their highest level since November 2007, the Bank of England has revealed.
Building societies used the Funding for Lending scheme to increase their loan stocks in contrast to all other lenders, the Bank of England has revealed.
Only 2.7% of people taking out new mortgages and 5.4% of existing borrowers have financial cover to ensure continuity of their payments if they become unemployed, says protection specialist Simon Burgess.
Over £18bn was drawndown from Funding for Lending Scheme during its final four months, figures released by the Bank of England have revealed.
Uinsure has launched a new Defaqto 5-star rated home insurance product, meaning it is recognised as one of the highest quality products on the market.
Scotland is set to hold its largest mortgage and finance exhibition for the intermediary market since the start of the financial crisis later this month.
Repossessed homes are being sold above valuation expectations by an average of 5% in the UK, the Charlbury Group has revealed.
Stonehaven is the latest ambassador of the Later Life Academy, the recently launched commercial and training organisation for later life advisers.
Just Retirement has reduced its minimum fund size to £2,000 from £5,000 to enable a larger number of pension savers to gain access to its underwritten rates, potentially generating extra income over the course of retirement.
‘The Buy to Let Business Mortgage Club’ are rebranding as ‘Buy to Let Club’.
The National Association of Commercial Finance Brokers has appointed Shawbrook Bank as its principal sponsor for 2014.
Jerrold Holdings has appointed David Dawkins as head of marketing.
BM Solutions has launched a new range of 2-year fixed rate products targeted at loans between £150,000 and £250,000, available for both purchase and remortgage customers.
Magellan Homeloans has said that the response it has received from both brokers and distributors to its new mortgage range and lower pricing has exceeded its expectations.
All exhibitor stands are now sold out for the NACFB’s annual Commercial Finance Expo.
House price rose across more than half the country in February 2014 as the housing recovery spreads, the latest National Housing Market Survey from Hometrack has found.
The average first-time buyer purchase price climbed 16% over the year to January 2014, hitting a record high of £155,832, the latest First Time Buyer Tracker from LSL Property Services has found.