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Industry News

Nationwide to pricematch remortgages

Nationwide is set to compare its mortgage rates for existing customers looking for a new deal against the remortgage rates of its top six high street competitors as part of its new Loyalty Rate Mortgages initiative.

Mortgage product numbers hit five year high

Competition between mortgage lenders saw the number of products available on the market increase by 9% to reach record levels in August, the National Mortgage Index from Mortgage Advice Bureau has found.

‘Yes’ vote could devastate Scottish equity release

A ‘Yes’ vote in today’s Scottish Referendum could have a devastating impact on the burgeoning equity release market in Scotland, equity release specialist Responsible Equity Release has warned.

Majority of renters in breach of tenancy

A majority of renters may be breaching their tenancy agreement after failing to read their agreements when they move in, research from Ocean Finance has found.

MetLife deal adds 930 adviser to Openwork

MetLife and Openwork have agreed to the transfer of up to 930 of the former’s self-employed advisers and a new distribution agreement in respect of MetLife’s Accident Protection product.

BOULGER: "Clear, Fair and Not Misleading." Really!

"HSBC is currently advertising its “Incredibly low” 2-year (to 30/11/16) fixed rate at 1.49%. Pity about the fee! writes Ray Boulger, senior technical manager at John Charcol.

Precise Mortgages revamps self-employed criteria

Precise Mortgages has revamped its self-employed criteria and will now accept just one year’s certified accounts or SA302 with rates from 2.97% up to 85% LTV.

GE Money Home Lending to improve online capability

GE Money Home Lending has contracted with technology and business process specialist DPR to start to outline improvements to its intermediary online capability and originations platform.

Metro Bank revamps 5-year fixed range

Metro Bank is reducing the rates on its residential 5-year fixed rate mortgages by 0.20%.

Vantage finance celebrates tenth anniversary

Vantage Finance is this month celebrating a significant milestone as it reaches its 10 year anniversary.

TBMC launch Hinckley & Rugby 2.5% B2L exclusive

Hinckley & Rugby Building Society has launched an exclusive market leading buy-to-let mortgage with TBMC.

Shawbrook Bank doubles commercial mortgage book

Shawbrook Bank saw its commercial mortgage book double over the first six months of 2014 to £716m, the banks latest figures have shown.

Scottish house sales reach six-year high

Scottish House sales have reached a six year high but monthly house price growth has slowed to 0.2% with over half of Scotland seeing prices drop in July, research from the LSL Scottish House Price Index reveals.

MMR hits borrowers on low incomes hardest

Borrowers with dependents and low incomes have been most affected by new limits on mortgage lending arising from the Mortgage Market Review, research from the Intermediary Mortgage Lenders Association reveals.

YES vote could push prime London prices higher

A YES vote on Thursday could push upmarket rentals and Pied-A-Terre prices in London even higher, property lawyers Moore Blatch have warned.

Virgin Money launch 6-year fix at 2.99pc

Virgin Money has launched the only 6-year rates in the market – priced at the same rate as its 5-year deals.

House prices up 11.7pc

The Office for National Statistics said UK property prices were up 11.7% in the year to the end of July.

Chadney’s David Thomas joins PFS as president

David Thomas, joint managing partner of Fleet-based Chadney Bulgin, has been named as the new Personal Finance Society president for 2014/15.

SPECIAL FEATURE: Is this Plan B?

Dr Angus Armstrong, director of macroeconomics at the National Institute of Economic and Social Research and Dr Monique Ebell, research fellow at NIESR, ponder Scotland’s Plan B.

Accord slashes rates

Accord Buy-to-Let has reduced its mortgages rates by up to 0.40% across its 60%, 65%, 70% and 75% loan to value ranges.

Valuations activity cools

August has seen an annual drop in UK housing market activity, the latest research from Connells Survey & Valuation has found.

Leeds ups B2L proc fees

Leeds Building Society is increasing procuration fees on buy-to-let and holiday let mortgages.

Rental growth easing across UK

Rental price growth across the UK eased in August, with every region of the UK seeing smaller rent increases than in previous months, new findings released today from the August 2014 HomeLet Rental Index have revealed.

Market Financial Solutions joins the ASTL

Market Financial Solutions has become the latest member of the Association of Short Term Lenders.

Ezbob passes the £20m mark

Online short term commercial lender ezbob has lent over £20m in the twelve months since its formal launch in 2013.

Virgin Money cuts rates by up to 0.26pc

Virgin money has announced a number of rate reductions across its residential and buy-to-let mortgage ranges, writes Charlotte Lloyd.

British Friendly appoints non-executive director

Protection provider British Friendly has appointed Roy McLoughlin as a non-executive director.

Smart Money moves to new home

Smart Money is moving to a new Head Office site in order to provide a more effective centre for the increase in its English and Welsh business, writes Charlotte Lloyd.

House prices up by 0.9pc

House prices increased by 0.9% (+£2,474) in September as new listings begin to push up prices, the latest Rightmove HPI has revealed.

CAB backs 'long overdue' tenant eviction bill

The Citizens Advice Bureau has welcomed the government’s support of a private members bill giving private tenants greater protection from eviction.

Government set to streamline housebuilding

The government has pledged to save housebuilders and councils £114m per year by streamlining Britain’s housebuilding process.

AXA: Safety first for careless landlords

Landlords are leaving themselves open to prosecution for failing to maintain their properties, AXA has revealed.

West One: Housing output is ‘floundering’

Director of West One Loans Duncan Kreeger has blasted the state of the construction industry after the Office for National Statistics revealed that housing output increased by 0.8% month-on-month to July.

EXCLUSIVE: Fleet Mortgages to launch in November

Fleet Mortgages, the new buy-to-let lender, is planning to launch in November and has ambitions to take the market by storm, Mortgage Introducer can reveal.

Halifax slashes rates

Halifax has reduced its rates on 2 and 5-year purchase and remortgage products by up to 0.30%.

Stamp Duty seeding relief could boost UK by £117.6m

The UK economy could be boosted by £117.6m with the introduction of seeding relief on Stamp Duty – a relief on the transfer of property to newly-established fund vehicles - the British Property Federation has said.

MBE welcomes first time exhibitors

The Mortgage Business Expo has welcomed a number of first-time exhibitors including Woolwich to its show at the Barbican Centre in London on October 8.

Cardiff is quality of living capital

Cardiff offers the best quality of living of all the UK’s 12 largest cities, MoneySuperMarket research has revealed.

Mansfield upgrades buy-to-let range

The Mansfield Building Society has launched three 2-year buy-to-let products up to 70% loan to value.

RAY BOULGER: We’re better together

Ray Boulger, senior technical manager of John Charcol, has blasted the Better Together campaign to keep Scotland in the Union for failing to flag up the dire consequences of Scottish independence on the mortgage market, writes...

Castle Trust appointed to Complete FS panel

Specialist equity loan provider Castle Trust has been appointed to Complete FS lender panel.

Jerrold Holdings sees profit rise

Jerrold Holdings Limited, parent company of Blemain Group, has seen a 16% year-on-year increase in profit before tax to £52m for the year ended 30 June 2014.

London and South East skew prices

House prices in London and the South East are skewing the average house prices by record £89,000, the latest LSL England & Wales house price index has found.

London rents continue to rise

Tenants in the Capital were paying almost £500 a year more if they rented in August compared to July 2014, figures from Move with Us have shown.

Help to Buy 2 lending reaches £2.7bn

After achieving strong results in the summer months the Help to Buy mortgage guarantee scheme has helped fund £2.7bn worth of loans, Treasury statistics have revealed.

NatWest slashes rates

NatWest Intermediary Solutions is reducing the rates on a number of its buy-to-let, higher loan to value and first-time buyer mortgages.

Skipton unveils 2-year rates

Skipton Building Society has added to its mortgage range by launching a selection of 2-year residential products.

Hope Capital adds Power to growing team

Hope Capital has recruited business development manager Danny Power from Mint Bridging – the bridging lender’s third appointment since April.

LMS and Buckinghamshire link up

The Buckinghamshire Building Society has become the latest mutual to partner with conveyancing panel management specialists LMS

Santander offers £500 discount for current account holders

Santander has launched a range of mortgages exclusive to its current account holders offering a £500 discount on its £995 booking fee.

Kensington launches ad campaign

Specialist lender Kensington is launching a major new campaign to educate entrepreneurs about the mortgage choices available to them.

First-timers drive the market

First-time buyer lending was 39% higher in July year-on-year as the market continued to grow, the latest CML data has shown.