Todays Breaking News On Thursday 05 December 2013
Brightstar Financial has appointed Rob Collins to head up a separate division dedicated to the commercial finance sector.
George Osborne’s Autumn Statement revealed the economy was growing faster than predicted but a continued strategy to reduce spending and tackle the deficit was needed to secure the long-term future of the UK.
Chancellor George Osborne has launched a new £1bn housing fund to unlock development sites in the north of England.
Chancellor George Osborne said the same “spirit of aspiration” which underpinned Right to Buy is underpinning Help to Buy by helping thousands to realise the dream of owning their own home.
Foreign nationals who own property in the UK will be forced to pay capital gains tax should they make a profit from its sale, chancellor George Osborne has said today.
Kent Reliance is launching a buy-to-let light refurbishment 2-year discount product at 4.49% to allow professional landlords to upgrade a property and realise the increased value.
2014 will see lenders in the bridging market start to consolidate and could even see some lenders go to the wall, predicts Fincorp.
The Conveyancing Association has launched its protocol to tackle the problem of lost house sales and purchases due to poor communication between lawyers, lenders and estate agents.
Aldermore will launch its secured loan range for prime residential borrowers in quarter two next year alongside its bridging range in a bid to develop a “full” banking proposition.
The number of loans advanced to homebuyers in November climbed above 70,000 for the first time since January 2008, the latest Mortgage Monitor from e.surv has revealed.
Wednesday 04 December 2013 News
Claims that the “clock is ticking” on tax relief for commercial property owners have been rebuffed by a leading expert in property capital allowances.
Prestige Finance saw a 40% growth in business volume during November as case numbers increased by over 36% on the previous month.
Smart Money Loans has completed the two of the largest loans yet for Masthaven Secured Loans.
Barclays is set to make changes to its offset mortgage range and is cutting the rates on its 3-year fixed rate mortgage.
Mansfield Building Society has appointed Ian Rowling, the retired chief executive of the Nottingham Building Society, as a non executive director.
Promise Solutions, one of the UK’s largest Secured Loan Master Brokers has further enhanced its intermediary proposition with the appointment of Phil Whitehouse to support Promise’s Key Accounts.
Kevin Paterson, managing director of Source Insurance, looks at the rejuvenation of the residential property market and how intermediaries can work with letting agents to build their income streams.
Tuesday 03 December 2013 News
Personal asset lender borro has launched its Christmas incentive for professional advisers and is giving them the opportunity to celebrate Christmas with a Rolex GMT Master II watch.
Residential construction in Scotland fell by 14% year-on-year with just 13,478 new build’s completed by the end of June, official Scottish government figures have revealed.
Kent Reliance has scrapped with its minimum income requirement and will now to assess the suitability of cases on rental income alone.
Housing minister Kris Hopkins has hailed the impact of Help to Buy for delivering a surge of business to the construction sector.
The second charge mortgage market reported its highest level of new agreements in almost four years, new figures from the Finance & Leasing Association have revealed.
Some 930% more transactions take place between £240,000 and £250,000 than between £250,000 and £260,000, research from London Central Portfolio has revealed.
Treasury Committee has called on the government to commission an independent review looking at whether the Money Advice Service should continue to exist as a statutory organisation.
Richard Hurst, marketing director at Vizolution looks at MMR and the effect it will have on branch advice
Monday 02 December 2013 News
Santander’s newly created Mortgages division has today announced the appointment of Miguel Sard as its managing director, subject to FCA approval.
Since the Funding for Lending Scheme started in the Summer of 2012, building societies and other mutual lenders have accounted for £15.7bn of net lending, the Building Society Association has said.
With major expansion plans afoot Key Retirement Solutions has strengthened its board with the appointment of Simon Thompson as group finance director.
Net lending by Funding for Lending Scheme participants rose sharply in the third quarter of 2013, data released by the Bank of England has revealed.
Precise Mortgages, the intermediary only lender, has launched their range of Secured Loans to the Mortgage Intermediary market.
Buy-to-let lending will reach £25bn by the end of 2014, a 25% increase on lending in 2013 according to forecasts by Mortgages for Business, the specialist mortgage broker.
House prices increased 0.5% in November on rising demand and contracting supply, the latest Hometrack House Price Index has revealed.
Friday 29 November 2013 News
Governor Mark Carney’s package of measures designed to maintain stability in the mortgage market as house prices rise has received a warm welcome from industry experts.
The Financial Conduct Authority is set to conduct a review into lending practices at the Royal Bank of Scotland.
Virgin Money has refreshed its buy-to-let mortgage range as it looks to reinforce its position in the market.
Loan approvals for house purchase numbered 67,701 in October up from an average of 60,685 over the previous six months, figures released by the Bank of England have revealed.
Building societies and other mutual lenders gross mortgage lending topped £4.0 billion in October, new figures from the Building Society Association have revealed.
UK house prices increased by 0.6% in November and were 6.5% higher than November 2012, the latest Nationwide House Price Index has revealed.
Santander for Intermediaries is launching its new range of higher loan to value products.
Nearly 4 out of 5 Brokers are on track for a successful year according to a new poll carried out by United Trust Bank.
Short-term secured loans have provided four times the total lending generated through the first phase of Help to Buy between the period of May and September this year, the West One Bridging Index has revealed.
The cooling-off period built into the secured loan application process confuses and hampers the customer journey, said leading second charge brokers at the
Thursday 28 November 2013 News
The Bank of England has fired a warning shot to the industry warning that it plans to take more control over lenders’ affordability criteria.
The Governor of the Bank of England has announced that the Funding for Lending Scheme will no longer support household borrowing after 31 December 2013 following the continued improvement in housing market conditions.
House prices in November fell by 0.2% month-on-month, the latest Land Registry House Price Index has revealed.
Almost two thirds (60%) of adults have lived in the same house for more than 15 years and one in ten say they haven’t moved for 31 years or more, new research from Ocean Finance has revealed.
Bank of England governor Mark Carney has said that the Bank does not have the power to shut down the Help to Buy scheme should it judge it detrimental to the market.
With London and the South East accounting for an increasing proportion of economic growth, house building, and mortgage lending, house prices outside these two regions still remains below 2008.
Matthew Anderson, director at Fincorp, considers the role of exit routes in bridging and asks if they really matter.
A survey conducted by financial protection specialist Cirencester friendly has revealed that advisers believe that the next big financial scandal will centre on interest-only mortgages.
Wednesday 27 November 2013 News
Skipton will be launching a range of residential 2-year fixed rates starting from 1.74% at 60% loan to value as well as reducing rates on selected buy-to-let products by up to 0.20% from tomorrow.
The Cambridge Building Society is launching a 3 year fixed-rate mortgage which will be available to members of Legal & General Mortgage Club, Sesame and PMS.
Freedom Finance has become the latest lending partner to move past the £1 million completions mark with Masthaven Secured Loans.
Eighty-five per cent of homeowners have little or no awareness that interest can be paid in part or in full for lifetime mortgages, according to a new survey from Stonehaven.
Regulation in financial services has driven a shift from a focus on sales to overall quality of service but more needs to be done.
The National Association of Estate Agents has called on the Chancellor to consider a review of Stamp Duty and further measures to support housebuilders.
British SME bosses are putting the needs of their business ahead of their own by not focusing on their personal financial planning, research from Close Brothers has revealed.
Three major lenders have confirmed that they will be adopting a new centralised panel management system to remove the need for conveyancing firms to repeatedly supply the same data to different lenders.