Ryan Bembridge

Ryan Bembridge is News Editor at Mortgage Introducer

John Eastgate, who joined earlier this month from OneSavings Bank, is managing director of the newly created Property Finance Division.

In its Business Plan for 2019/2020, the FCA said it will identify lenders with these business models before looking into how customers are affected. It will then decide if and how it should take action.

There was a 0.8% house price drop between January and February, with UK prices now averaging at £226,234.

The typical price in Wales is now £185,018.

The products are available through advisers for all homeowners aged 55 and over.

The new rules, aimed at making senior managers accountable for their actions and how they influence others, has already been rolled out to banks and insurance firms but will be extended to 47,000 firms.

SMEs expect a recession

Bibby’s SME Confidence Tracker found that a number of SMEs are holding back in investing in their business, with the amount of capital they planned to invest falling for the fourth consecutive quarter – from £103,648 in Q1 2018 to £64,600 Q1 2019.

The mortgage requires that a member of the borrower’s family holds another 5% of the purchase price in a Saffron Family Support Savings Account.

However this year the trade body expects both remortgage and product transfers to be as strong as last year.

The oversubscribed deal included £202.2m of note, equivalent to 87% of the pool, rated Aaa/AAA by Moody’s and DBRS.