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Industry News

Fitch upgrades Precise’s servicer ratings

Charter Court Financial Services Limited, which operates under the brand names of Precise Mortgages and Exact Mortgage Experts, has received several upgrades from Fitch.

Halifax cuts rates on high LTV loans

Halifax Intermediaries has reduced rates by up to 0.4% on its higher end loan to value two and five year fixed rates.

BM Solutions cuts rates

BM Solutions has reduced the rates across its two, three, and five-year buy-to-let and let-to-buy fixed and tracker rate product ranges by up to 0.5%.

Accord launches limited edition range

Accord Mortgages has launched a range of limited edition, fixed-rate mortgages, available for one week only.

Santander: MMR has caused positive disruption

Miguel Sard, head of Santander Mortgages, believes that implementation of the Mortgage Market Review has brought about disruptive but positive change for the market.

Bower appoints head of business development

Equity release adviser firm Bower Retirement Services has appointed Georgina Oxton to the newly created role of head of business development.

Brokers have more confidence in mortgage market

Mortgage intermediaries’ confidence about the prospects for the mortgage market has increased significantly.

Consumer confidence reaches 8-month high

Consumer confidence in the housing market reached its highest level since July 2014 in March 2015 despite the impending general election, Halifax’s Housing Market Confidence Tracker has found.

The Yorkshire cuts FTB rates

Yorkshire Building Society is giving first-time buyers help in getting on the property ladder by reducing mortgage rates by up to 0.30%.

Chelsea reduces rates by 0.25pc

Chelsea Building Society is reducing its rates by up to 0.25% for borrowers with 35% deposits looking for a five-year fixed-rate mortgage.

Commercial brokers must target locals

Just Cash Flow will explain how and why commercial brokers should market their expertise to local businesses at the NACFB’s Commercial Finance Expo on June 17.

Equity release sector basks in record Q1

The equity release sector has experienced its greatest ever start to the year – with total lending reaching £325.7m in the first quarter of 2015, figures from the Equity Release Council have revealed.

Borrowers plan cash in hand deception

One in five (20%) people who plan to take out a mortgage in the next three years are planning to use cash rather than debit or credit cards to avoid lenders inspecting all their spending habits, research from MoneySuperMarket has revealed.

Bank of Ireland rejoins IMLA

Bank of Ireland for Intermediaries has rejoined the Intermediary Mortgage Lenders Association as the latest part of its re-entry into the intermediary lending sector.

Airdrie Savings Bank joins L&G Mortgage Club

Airdrie Savings Bank has celebrated its first year of serving the intermediary community in Scotland by joining Legal & General Mortgage Club.

AOBP welcomes second lender for 2015

Specialist short-term lender Peninsula Finance has joined The Association of Bridging Professionals.

NAEA: MMR reduced number of buyers

Two thirds of estate agents reported a decrease in buyers following the Mortgage Market Review, the National Association of Estate Agents has revealed.

CML: Mortgage lending grew in March

The Council of Mortgage Lenders has estimated that gross mortgage lending reached £16.5bn in March.

Aldermore launches H2B equity loan

Aldermore has joined the Help to Buy: equity loan scheme and has launched a mortgage through a small number of distribution partners.

FCA defends MMR

The Financial Conduct Authority’s Lynda Blackwell launched into a defense of the Mortgage Market Review at the Mortgage Business Expo Leeds at The Armouries yesterday.

MBE Leeds: Remo and B2L to stimulate growth

The mortgage market’s lending levels will increase in 2015 led by growing business levels in the remortgage and the buy-to-let sectors, representatives from three lenders predicted at the Mortgage Business Expo today.

Leeds calls for ‘bold’ housebuilding policies

The UK requires bold government policies to significantly boost housebuilding levels going forward, Leeds Building Society chief executive Peter Hill declared today.

FS must catch-up to digital demands

The evolution of consumer expectations as a result of the digital revolution has drastically altered their approach to financial services according to new research by IRESS.

Goldsmith joins Foundation Home Loans panel

Foundation Home Loans has appointed conveyancer Goldsmith Williams to its legal panel.

MBE Leeds: Specialist market’s share to grow

The specialist sector’s share of the overall mortgage market is likely to grow going forward, Kensington’s head of marketing communications Alex Hammond has predicted.

Barclays 60 per cent LTV deal with zero fees

Barclays is tomorrow introducing a new fee free 1.85% 2-year fixed rate deal at 60% LTV and cutting rates across its 5-year fixed rates at 70% and 75% LTV deals, and its 2-year tracker deal at 60% LTV.

MMR fears overblown

One year on from the implementation of the Mortgage Market Review and fears that the regulation would freeze the housing market have “proved to be overblown”, Doug Crawford, chief executive of myhomemove, said today.

Labour in mansion tax meltdown

The Labour Party failed to reveal the essentials behind the party’s flagship mansion tax policy in a disastrous interview between shadow health minister Jamie Reed and Andrew Neil today - which ended suddenly after the BBC lost its live...

Openwork launches Chartered Planner training

Openwork is offering its advisers tutor-led training to reach Chartered Financial Planner status as it looks to train its appointed representative firms.

Cheap buy-to-lets increase threefold

Low rate buy-to-let deals have increased threefold in one year – with the average rate for a 2-year fix falling by 0.49%, research from Moneyfacts.co.uk has revealed.

Coventry slashes rates

Coventry Intermediaries will cut mortgage rates across its residential range by up to 0.20% from tomorrow.

Virgin Money cuts rates

Virgin Money has cut a number of mortgage rates across its ranges – offering a 90% LTV 5-year fix at 3.98%.

Aldermore appoints mortgage relationship manager

Aldermore has appointed Sarah McCawley as a field-based relationship manager in the home counties.

Brokers disagree on MMR

Mortgage brokers are split down the middle on whether the Mortgage Market Review has caused business volumes to increase or decrease, Paragon’s Financial Advisor Confidence Tracking survey has found.

SPECIAL FEATURE: Advisers should pick up the baton

Gary Little, head of operations and membership at the Society of Mortgage Professionals, says the old adage, ‘my house is my pension’ will never ring truer for many of those in, or about to enter their retirement.

Axis to launch through TBMC

Axis Bank is launching into the buy-to-let market through TBMC – joining its other partners Complete FS and Mortgages for Business.

Clydesdale & Yorkshire unveil cashback offer

Clydesdale and Yorkshire Banks have launched a £1,000 cashback incentive for homebuyers.

Boulger: FCA has failed older borrowers

The Financial Conduct Authority has let older borrowers down by failing to persuade mainstream lenders to cater for people approaching retirement, John Charcol senior technical manager Ray Boulger has declared.

Santander cuts high LTV rates

Santander has cut its high loan to value rates – offering a 95% LTV 2-year fixed rate Help to Buy mortgage at 4.49% with no booking fee following a reduction of 0.40%.

Investec launches marketing campaign

Investec has launched a marketing campaign to promote lending to high net worth people and professionals looking to take out large loans.

FHL targets first-time landlords

Foundation Home Loans has launched a 75% LTV product catering for first-time landlords with a 2-year fix at 4.19% or a 2-year discounted rate at 3.96%.

First Merchant joins ASTL

London funder First Merchant has joined the Association of Short Term Lenders as an associate member.

Complete FS to source through Twenty7Tec

Complete FS introducers can access its mortgage and secured loan products through Twenty7Tec’s combined online sourcing engine from today after the pair partnered up.

deVere ‘surprised’ by expat demand

deVere Mortgages has been taken aback by a high demand for overseas mortgages – as three in every four of its mortgage enquiries have come from outside the UK.

Home insurance grows 10pc cheaper

The cost of combined home insurance has fallen by 9.6% yearly to the first quarter of 2015, the British Insurance Premium Index from AA Insurance has revealed.

Peter Curran swaps Lloyds for Countrywide

Peter Curran is leaving Lloyds Banking Group to join Countrywide Financial Services on 1 June.

Mortgage Brain appoints national account manager

Mortgage Brain has promoted previous business development manager Chris Brown to national account manager.

L&G unveils Virgin exclusives

Legal & General Mortgage Club has launched a range of 5-year fixed rate products with Virgin Money for remortgagers – including a 70% LTV 5-year fix at 2.39% with a £1,495 fee.

Buyer demand surges 22pc despite election

Property demand increased by 22% on a monthly basis in March – reversing the expectation for the general election to dampen down the market, haart’s National Housing Market Monitor has revealed.

Pensioners are too obsessed with property

The baby-boomer generation mustn’t look to solely fund their retirement using volatile property investments, Chris Williams, the chief executive of investment management firm Wealth Horizon, has warned.

Prices up 4.7pc as seller numbers fall

April house prices increased by 4.7% yearly and 1.6% monthly to stand at £286,133, Rightmove’s House Price Index has revealed.

Speed and relationships tops brokers’ agendas

When arranging bridging loans the speed of the turnaround is paramount for brokers, research from Dragonfly Property Finance has revealed.