Wednesday 22 May 2013 | RSS Feed

Todays Breaking News On Wednesday 22 May 2013

One in Seven to retire without a pension

One in seven to retire without a pension

One in seven people planning to retire this year will depend on the State Pension as they have no other pension, research from Prudential has found.

Hometrack and Interbay link up

Hometrack and Interbay link up

Hometrack has secured a contract to supply InterBay Commercial with services to support its buy-to-let business.

Welsh house prices fall to 2010 levels

Welsh house prices fall to 2010 levels

House prices in Wales have fallen back to December 2010 levels as a lack of mortgages stifles demand, the latest LSL House Price Index has revealed.


Tuesday 21 May 2013 News

Kent Reliance launches expat B2L mortgage

Kent Reliance has launched a buy-to-let mortgage for people who are temporarily living or working outside the UK.

Enterprise finance lending up 50pc

Specialist loan distributor Enterprise finance has reported that it has arranged more than £100m in short term loans during 2013.

Green Deal answers from CML and DECC

The Council of Mortgage Lenders and the Department of Energy and Climate Change have teamed up to produce a Green Deal FAQ fact sheet for lenders, writes Samantha Cordon.

NLA to accredit all members by 2020

The National Landlords Association has committed to accredit all landlord members by 2020.

FOS must level mis selling playing field

Eddie Goldsmith, senior partner at Goldsmith Williams, is calling on the Financial Ombudsman Service to level the playing field for mortgage mis selling claims.

CPI falls to 2.4pc in April

The Consumer Prices Index grew by 2.4% in the year to April 2013 down from 2.8% in March, the latest figures from the Office of National Statistics showed.

Scotland's financial services would be the gold standard

Alex Salmond, Scotland’s First Minister, has launched his counter argument for an independent Scottish economy following the Treasury’s report yesterday which outlined the negative impacts on financial services, writes Samantha...

ONS: UK house prices up 2.7pc

UK house prices increased by 2.7% in the 12 months up to March 2013, the latest Office for National Statistics has revealed.

Just Retirement to enter long term care market

Just Retirement has confirmed it intends to enter the long term care market in the coming months.

Service a priority for annuity advisers

The quality of service provided is second only to rates in terms of what advisers look for when choosing an annuity provider, research from iPipeline and Canada Life has revealed.

1,200 get BoI rate rise reprieve

The Bank of Ireland has partially reversed its decision to increase interest rates on their on their Base Rate Tracker mortgages.

IBB cuts rates on Sharia HPPs

The Islamic Bank of Britain has lowered the rates for its Sharia compliant Home Purchase Plans.

Gross mortgage lending up 4pc

Gross mortgage lending increased by 4% in April to £12.1bn, the latest figures from the Council of Mortgage Lenders have revealed.

Paragon reports 15pc rise in buy-to-let lending

The Paragon Group has reported a 15% increase in buy-to-let lending in its half-year results for the six months to 31 March.

Davidson joins Tenet

Tenet has appointed Gill Davidson as group regulatory director and company secretary.

London house prices surge in Q1

The average asking price for homes in Greater London jumped by over £10,000 in the first quarter of 2013, the latest Move with Us Residential Market Review has revealed.

L&G launch NatWest exclusives

Legal & General Mortgage Club has launched a range of exclusive 2-year fixed-rate mortgages from NatWest Intermediary Solutions.

1000s missing out on the best protection deal

Tens of thousands of consumers could be missing out on the most appropriate protection cover because networks continue to make it difficult for advisers to sell off panel, writes Ryan Fowler.


Monday 20 May 2013 News

Mansfield launch shared ownership range

The Mansfield Building Society has launched a new range of Shared Ownership Mortgages.

Jaedon Green joins Leeds BS

Leeds Building Society has appointed Jaedon Green as head of product development.

Squeeze on household budgets eases in May

Household finances are deteriorating at the slowest rate since May 2010, the latest Markit Household Finance Index has revealed.

£120m affordable home boost for Scottish buyers

Scottish deputy first minister Nicola Sturgeon has announced plans for a £120m shared equity scheme.

CBI lauches alternative finance guide for SMEs

The Confederation of British Industry called on small and medium-sized firms to consider the broad range of finance options available to help them grow, including asset-based lending, equity investment and peer-to-peer lending, writes...

Homeowners spend £5.6bn on improvements

Homeowners across Britain invested £5.6bn in improving their homes during 2012, research from Sainsbury’s Bank Loans has revealed.

The Loans Engine appoints Michelle Blair as BDM

The Loans Engine has appointed Michelle Blair as a business development manager to support its growth strategy within the broker market.

Precise expands conveyancing panel

Precise Mortgages has expanded its conveyancing panel following an increase in business.

Rent Check report reveals value of rental market

The private rented sector continues to be the fastest growing tenure in England accounting for 3.8m homes amounting to 17% of all households, research from BDRC Continental and Allsop LLP claimed.

King warns against permanent Help to Buy scheme

Sir Mervyn King has warned the government not to make the Help to Buy scheme permanent as it could leave taxpayers exposed to billions of pounds of private mortgage debt.

Mortgage gold rush gathers pace in April

Total mortgage applications for April 2013 were up by more than 50% year-on-year fuelled by a monthly spike of 10%, figures from the National Mortgage Index from Mortgage Advice Bureau shows.

more 2 life maintains pressure on rates

Equity release lender more 2 life is maintaining the pressure on rates with a further rate cut to 5.5% on its Protected Equity Plan enabling customers to safeguard part of their equity for inheritances.

Accord enhances 80pc LTV range

Accord Mortgages has enhanced its range of 80% loan to value mortgages by launching four new residential products.

LBG champions self-build with kit packs

Stephen Noakes, mortgage director at Lloyds Banking Group, has announced a review of Lloyds approach to self-build mortgages focusing on changing criteria for kit construction methods, writes Samantha Cordon.

Nationwide and LBG warm up to Green Deal

Nationwide and Lloyds Banking Group have embraced the Department of Energy and Climate Change's lender guidance on how to tackle the government’s Green Deal home improvement scheme.

Records tumble as national house price nears £250k

The national average asking price to sell a home has reached a record high of £249,841 as new sellers pumped up their demands by 2.1% this month., latest figures from Rightmove reveal, writes Robyn Hall.


Friday 17 May 2013 News

CML ready to help on Welsh mortgage schemes

Concrete outcomes are needed from the Government before the summer break to ensure that the Help to Buy schemes are a success, according to CML director general Paul Smee at the CML Cymru lunch today in Cardiff.

The Deadlines are back!

Industry covers band The Deadlines have announced two new gigs in London.

LSL reports subdued Q1 results

LSL Property Services has reported a 10.9% drop in total mortgage approvals for the three months to 31 March compared to the first quarter of 2012, it said in its interim management statement to the London Stock Exchange, writes...

Tenet launches social media service

Tenet has introduced a compliance-approved social media framework for its advisers following the group’s own corporate entry into the arena earlier this year on Facebook, Linked-In, Twitter, Vimeo and Youtube.

Hinckley & Rugby cuts rate on fee-free mortgage

Hinckley & Rugby has cut the interest rate on its fee-free lifetime discount mortgage from 3.49% to 3.19% for purchases and remortgages up to 80% loan to value.

CML Northern Ireland appoints new chair

Brian McCormick, head of mortgages at First Trust Bank, has been appointed the new chairman of the Council of Mortgage Lenders Northern Ireland.

Secured loans break £40m barrier

Secured lending in April has broken through the £40m barrier for the first time in three years, the Secured Loan Index from Loans Warehouse revealed.

Nearly one in three have money worries

Money worries are taking their toll on British consumers lives with 31% of the population claiming their finances are their biggest daily stress, research from MoneySupermarket.com has found.

London rents on the rise

London saw average advertised increase for the first time in four months this April, research from Move with Us has revealed.

Rents at highest level since November

Rents in April increased to the highest level since November 2012, the latest Buy-to-Let Index from LSL Property Services has revealed.


Thursday 16 May 2013 News

Fluent Money’s ‘appy again

Fluent Money has launched a new version of its industry-leading smartphone application, the Fluent View App.

AFI launches seven day special

Abbey for Intermediaries has launched a seven day spring special which will be exclusively available through all Key Accounts.

Mortgage fraudster has sentence extended

Confidence trickster Achilleas Kallakis has had his prison sentence for mortgage fraud extended for a further four years, writes Ryan Fowler.

Saffron appoints Anita Arch as BDM

Saffron For Intermediaries has appointed Anita Arch as a business development manager.

Brightstar and Precise team up for Lender Day

Brightstar Financial’s latest Lender Day with Precise Mortgages has been hailed as a great success by both companies with nearly £5m of potential bridging deals agreed.

TMW revamps B2L range

The Mortgage Works has refreshed its buy-to-let mortgage range for first time landlords.

Equity release misconceptions remain

Customers still have significant misconceptions about equity release, research from Bridgewater Equity Release has revealed.

Falling rates attract remortgagers

Two thirds (66%) of homeowners remortgaging an existing property in April did so to take advantage of lower mortgage rates, research from LMS has found.

Fears over LA advice on equity release

Nigel Waterson, chairman of the Equity Release Council, has raised concerns that local authorities will find themselves in the role of advisers when the proposals within the government’s care bill are put into practice, writes...

London rental price increase slows by half

The rate of increase of average rents within Greater London has almost halved over the past two years, April’s HomeLet Rental Index has found.

NACFB Expo stands sold out

The NACFB has sold out all 86 presentation stands for its upcoming Commercial Finance Expo, writes Ryan Fowler.


Wednesday 15 May 2013 News

Equity Release Council calls for awareness plan

Nigel Waterson today called for action to overcome the knowledge and policy vacuum which surrounds equity release in his speech at the Retirement Income Solutions Forum in London, writes Samantha Cordon.

FCA launches claims process review

The Financial Conduct Authority has launched a thematic review of insurer’s claims processes., writes Ryan Fowler.

AMI: Steady improvement for housing market

The housing market is experiencing a steady improvement as higher loan to value lending and increasing confidence bolster house prices, the AMI Quarterly Economic Bulletin has revealed.

Adviser sentiment on the up

Market confidence is improving amongst mortgage and protection advisers with 66% expecting to write more business in the next three month than they are doing currently, research from First complete has revealed.

AFB secures seat on AMI board

The Association of Finance Brokers, the trade body for second mortgage professionals, has secured a permanent seat on the Association of Mortgage Intermediaries board, writes Samantha Cordon.

Confidence in equity release up 23pc

The number of UK adults who would consider equity release has risen by 23% over the past year, research from the Equity Release Solicitors Alliance has found.

Stonebridge Group joins AMI

Stonebridge Group and its appointed representative firms and individual sellers are to become members of the Association of Mortgage Intermediaries.

Bank of England upgrades growth outlook

The Bank of England has upgraded its growth outlook for the UK but stressed that recovery still remains weak by historical standards, writes Ryan Fowler.

PMS adds Partnership to panel

Directly Authorised members of PMS will now be able to access enhanced lifetime mortgages from Partnership, which have been designed specifically for people with lifestyle or health conditions.

Complete FS announces mortgage expo agenda

Complete FS, the south coast based specialist distributor, is hosting its tenth annual mortgage expo for brokers at the Meon Valley Golf and Country Club on the 19th June.

Scottish house prices climb in March

House prices in Scotland have risen for the third month in succession, the latest LSL Scottish House Price Index has revealed.

SPECIAL FEATURE: The Sep Rep debate

Paul Albone, managing director of the TM Group, says Scotland’s move towards separate representation by solicitors during property transactions raises questions about the current system in England and Wales.

The short lease ticking time bomb

The ticking time-bomb of plunging property values due to short leases has prompted legal firm Goldsmith Williams to draw brokers’ attention to the legal implications and the opportunities to boost client relationships.


Tuesday 14 May 2013 News

Marc Goldberg reveals all

Don’t miss the May issue of Mortgage Introducer magazine out later this week.

NatWest to accept Help to Buy and NewBuy

NatWest Intermediary Solutions has confirmed it will start accepting mortgage applications from intermediary clients using the Help to Buy shared equity and NewBuy schemes.

Bridgewater to hold roundtable

Bridgewater Equity Release will be holding a roundtable workshop event next month designed to support specialist equity release advisers.

Scottish Widows appoints intermediary protection head

Scottish Widows has appointment Esther Dijsktra as its new head of intermediary protection propositions.

Montello moves HQ to London's West End

Montello Bridging Finance has moved its offices from the City to London's West End to help better serve its growing investor based situated in Mayfair.

1.6m SMEs need funding to grow

1.6 million UK SMEs need funding to grow this year, a report for the Department of Business, Innovation and Skills revealed.

B2L landlords could face legal action

PropertyReclaim.com has warned that landlords and agents face the real threat of fines if new immigration laws proposed in the Queen’ Speech are introduced.

Broker presence in market on the up

Intermediaries increased their market share in the first quarter among all borrower types, the Council of Mortgage Lenders’ March Housing Market Survey showed.

More borrowers choosing fixed rates

More borrowers are choosing to fix their mortgage for the longer term as economic conditions remain uncertain, research from global business intelligence provider RFi has shown.

NAEA: Serious house hunters returning

The number of sales agreed during March remained strong despite fewer house hunters registering with estate agents, the National Association of Estate Agents has said.

RICS: Property demand at 3yr high

Demand for property is now at the highest level since 2009, the latest RICS Residential Market Survey has revealed.

SML revamps broker reward scheme

Smart Money Loans has re-launched its Smart Rewards scheme which rewards introducers for each secured loan case completed.

House purchase lending rises in March

House purchase lending picked up in March compared to the first two months of the year resulting in 42,000 advances worth £6.2bn being offered to buyers, data from the Council of Mortgage Lenders Housing Market Survey showed, writes...

Fincorp gets developer out of a tight squeeze

Bridging lender Fincorp has completed a £900,000 loan secured over two Gloucestershire properties, enabling the conversion of a chapel into a recording studio to be used by a member of 70s band Squeeze.

First-time buyers rise 20pc

First-time buyer activity increased by 20% in March giving rise to optimism across the industry following the release of the Council of Mortgage Lender’s March survey, writes Samantha Cordon.

Magnus Duke joins Bridgebank Capital

Bridgebank Capital has appointed Magnus Duke as a London-based business development manager, writes Robyn Hall.

Market activity accelerates in April

April witnessed an acceleration in valuations activity with annual growth reaching 39%, research from Connells Survey & Valuation has found, writes Ryan Fowler.

13pc of retirees still paying mortgage

One in eight retirees (13%) continue to pay off a mortgage in retirement, research from MGM Advantage has revealed.

Exclusive: Santander to double SME market share

Santander Corporate and Commercial Bank has confirmed it intends to double its market share in the commercial lending sector using the capital originally earmarked for the RBS branch acquisition, writes Samantha Cordon.