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Industry News

UK GDP up 0.7pc

UK gross domestic product increased by 0.7% in Q3 2014 compared to 0.9% in Q2, figures from the Office for National Statistics have revealed.

West Brom unveils 10-year fix

West Brom has launched a 10-year fix with a rate of 3.99% to 75% LTV.

Dragonfly hires commercial property manager

Dragonfly has hired Dominic Gibson as an investment manager for its commercial property team.

Paradigm hosts Belfast round table

Paradigm will host its next mortgage and protection roundtable event in Belfast on Wednesday 12 October.

Homebuyers shouldn’t cut corners on home surveys

Homebuyers shouldn’t skimp out on property surveys or they could encounter problems down the line, Maxwell Hodge conveyancer Alison Love has warned.

Lloyds slashes 90pc LTV mortgages

Lloyds Bank has cut rates on its 2-year fixed rate 90% LTV mortgages.

London will build 570,000 homes in a decade

London will construct up to 570,000 new homes in the next decade with the help of new build projects in Southwark, Tower Hamlets, Islington and Hackney, Stirling Ackroyd has claimed.

First-timer sales up 11pc

First-time buyer sales have increased by 11% annually to September, the latest First Time Buyer Tracker from Your Move and Reeds Rains has revealed.

Annual rate of house price growth hits 9pc

The annual rate of UK house price growth was 9.0% in September, up just 0.1% from August (8.9%), according to Hometrack’s inaugural UK Cities House Price Index.

Scotland sobered by end of Help to Buy

The Scottish housing market will be tempered by the end of the country’s Help to Buy equity scheme in July 2015, Homes for Scotland chief executive Philip Hogg has said.

Spooky homes can devalue by 20pc

Homes with spooky histories can lose up to 20% of their value according to 83% of estate agents, Move with Us research has revealed.

Shawbrook records strong September turnaround times

Shawbrook successfully processed 97.7% of its short-term applications within 72 hours in September.

Teachers launches 3-year exclusive

Teachers Building Society has introduced an 80% LTV 3-year fix at 3.20% for homebuyers and movers who are teachers and education professionals, exclusively via intermediaries.

LendInvest launches buy-to-let index

LendInvest has launched a buy-to-let property index to provide a thorough analysis of the market.

Islamic Bank of Britain rebrands as Al Rayan Bank

The Islamic Bank of Britain will change its name to Al Rayan Bank PLC in December subject to shareholder approval.

James Chidgey set for Nationwide departure in 2015

Nationwide senior manager James Chidgey will leave in March to draw his 29-year career with the building society to a close.

Skipton refreshes rates

Skipton Building Society has refreshed its range of fixed-rate mortgages.

BBA figures show steadier mortgage market

Mortgage approvals have dropped by 10% for new house purchases and 24% for remortgages compared to the same period last year, BBA figures have revealed.

Sluggish wage growth held base rates

The Monetary Policy Committee held Bank of England base rates at 0.50% due to sluggish wage growth, Nick Dixon, investment director at Aegon UK, has said.

Nationwide offers lowest ever fix

Nationwide has launched a 60% LTV 2-year fix at 1.84% for new buyers and 1.74% for existing customers.

Hinckley & Rugby refreshes range

Hinckley & Rugby Building Society has cut interest rates on two 2-year discount rate mortgages and launched a lifetime mortgage charging 2.19% up to 80% LTV.

LMS: Remortgage lending up 19pc

Gross remortgage lending increased by 19% to £4.4bn in September, data from the LMS has revealed.

Prime London plateaus

House price growth in Prime London has slowed to 0.5% in Q3 2014 compared to 3.1% in Q2, the Marsh & Parsons London Property Monitor has revealed.

Spooky décor puts homebuyers off

Potential homebuyers can get spooked out by some decorating choices from sellers, Move with Us research has revealed.

SPML wins milestone sale-and-rent case

Southern Pacific Mortgage has won a landmark legal case against a group running a sale-and-rent back scheme.

Mortgage Intelligence launches Leeds exclusive

Mortgage Intelligence Holdings has launched an exclusive 3.79% 5-year fixed rate mortgage up to 85% LTV with Leeds Building Society.

MPC vote 7-2 to keep rates at 0.50pc

Two members of the Monetary Policy Committee voted to raise the Bank of England base rate by 0.25%, the minutes from the latest MPC meeting have revealed.

Buy-to-let celebrates 18-year milestone

The buy-to-let sector is celebrating 18 years since its inception today.

Two-thirds of adults with children lack Wills

Nearly two-thirds of adults with children in the household do not have a will, a recent YouGov survey commissioned by law firm Thomas Eggar has revealed.

Home insurance premiums fall

Home insurance premiums have fallen by nearly £20 over the last 12 months on average, the AA British Insurance Premium Index has revealed.

First-time buyers ‘hear what they want to hear’

First-time buyers have a habit of hearing what they want to hear when it comes to affordability, senior technical manager of John Charcol Ray Boulger and market analayst Kate Faulkner have warned.

Adults living at home cost £1,200

Parents with adult children living at home have to come up with an additional £1,200 per year, research from Scottish Widows think tank Centre for the Modern Family has revealed.

MortgageBrain launches Anywhere

Mortgage Brain has launched MortgageBrain Anywhere which allows advisers to use its sourcing software on multiple devices.

NatWest hires six BDMs

NatWest has appointed six business development managers, with two operating in the field and the other four over the phone.

Blacks scoops Yorkshire Legal Awards prize

Blacks Solicitors has won the ‘Residential Property Award’ at the Yorkshire Legal Awards held at New Dock Hall, Leeds.

Brightstar expands team

Brightstar has appointed Nicholas Christofi as a business consultant for its commercial team.

Carney investigates Bank of England crash

Bank of England Governor Mark Carney has launched an investigation into yesterday’s system crash which put all mortgage transactions on hold.

September slowdown reflects market uncertainty

September’s slowdown in mortgage lending reflects wider uncertainty in the market, Charles Haresnape, managing director, mortgages and commercial lending at Aldermore, has said.

One in three have problems with wills

One in three families and friends find it difficult to trace all the assets left in wills, research from willsandassets.co.uk has revealed.

Equity release lending breaks £1bn barrier

The value of equity release lending has surpassed £1bn for the first nine months of 2014, figures from the Equity Release Council have revealed.

BoE fixes technical fault

The Bank of England has fixed the technical issues which halted mortgage transactions this morning.

BoE technical fault halts mortgage transactions

Mortgage transactions are on hold due to a technical issue at the Bank of England.

South East set for 5-year boom

The South East of England will see house prices inflate more than any other area over the next five years, Rightmove and Oxford Economics have forecast.

SortRefer launches Scotland conveyancing package

SortRefer has increased its activity in Scotland by launching a conveyancing package for Scottish remortgage business.

EXCLUSIVE: Fleet Mortgages adds L&G to panel

New buy-to-let and specialist lender Fleet Mortgages has added Legal & General Mortgage Club to its distribution panel.

Panacea Adviser upgrades website

Panacea Adviser has upgraded its website with a range of services and features.

Mortgage Intelligence signs up Metro to panel

Mortgage Intelligence has appointed Metro Bank to its panel of lenders.

CML: September lending slows

Gross mortgage lending slowed to £17.8bn in September - 1% lower than the £18bn recorded in August, the Council of Mortgage Lenders has revealed.

Clydesdale and Yorkshire launches mortgage range

Clydesdale and Yorkshire has launched a range of ‘pay your mortgage for a month’ products which offer cashback covering one monthly repayment.

Price war heats up as Barclays slashes rates

A mortgage price war has erupted on the high street as global economic uncertainty continues to push down the cost of borrowing to record lows.

HSBC unveils 0.99pc mortgage

HSBC has launched its lowest ever mortgage rate at 0.99% for up to 60% loan to value.

Consumer confidence drops

Consumer confidence in the economy has fallen in September, the Lloyds Bank Spending Power Report has revealed.