The Financial Services Authority (FSA) has appointed Mark Rothery as chairman of the smaller businesses practitioner panel. Rothery succeeds Ruthven Gemmell, who, having served a two-year term as chairman, stands down and assumes the role of deputy chairman for one year.
Mortgage Next launches range
Mortgage Next has launched an exclusive range of adverse credit mortgages funded by Kensington Mortgages. The range has been designed specifically for borrowers requiring mortgages up to 60 per cent loan-to-valuation. The range, available for near-prime, medium and high adverse credit facilities, includes a choice of either a three-year discount, with rates starting from 5.09 per cent, or a three-year fixed rate, starting at 5.45 per cent. Rate loadings are available if mortgage applications are made for remortgages or self-certification.
Landlords expect significant house price rises
Mortgage Trust has revealed landlords expect to see a significant increase in house prices over the next 12 months. Its research revealed that of the 90 per cent of respondents who expected house prices to rise over the coming year, 53 per cent expected an increase between 3 per cent and 5 per cent. Just over one tenth expected house price rises of 6 per cent or more.