Category: Loans

Y3S opens in London

The broker, which is primarily based in Cardiff, has put Daniel Glicksman and Allan Phillips in charge of the London office.

It has been a relatively slow start to fully integrating second mortgages into the solutions being provided by mortgage advisers around the UK, but like all significant change it will take time. Collaboration between specialist packagers and mortgage advisers is a fundamental requirement to make this happen.

From May to July 2017 there were 2,798 mortgages written worth £270m, an increase of 24% and 27% compared to the same three months last year.

The deal was arranged by packager Intelligent Loans.

Figures released yesterday revealed the seconds market had grown for a fourth consecutive month but Fluent’s Tim Wheeldon has warned there is still resistance to the concept that remortgaging might be the wrong advice.

The half day events, which take place across the UK, will provide intermediaries with insight into the different niches of the specialist lending market, including buy-to-let, second charge loans and the later life lending space.

This is the fourth month that the seconds market has reported growth with volumes for June up an equally strong 22%. 

A sense of entitlement from the second charge industry after the Mortgage Credit Directive came into force has been counterproductive for the market, Fluent for…

Together hires three BDMs

Timms has joined from NatWest after working at Which? and London and Country, Makwana joined from Barclays and Dowson was hired from from Virgin Money.

Lending was at £93m in March, up 22% from the month before, after which it reached £79m in April and £87m in May.