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Money Marketing Cover

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Co-op Bank posts £1.3bn loss and reveals widespread mortgage failings

17 April 2014 | By Natalie Holt, Samuel Dale

Bank has to raise £400m after it found a number of redress and misselling issues following a past business review.

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Tesco Bank grows mortgage book by £700m

16 April 2014 3:06 pm | By Devraj Ray

Pre-tax profits at Tesco Bank rose 23.1% to £152.6m in the year to February 2014.

Nationwide Now branch advise

Nationwide starts offering branch advice over video link

16 April 2014 11:01 am | By Devraj Ray

Consultants based in Northampton will provide full mortgage advice via hi-definition video link to customers around the UK.

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Buyers warned to expect valuation delays for next six months

16 April 2014 10:32 am | By Paul Thomas

Money Marketing sister title Mortgage Strategy investigation finds e.surv and Connells have stopped taking instructions in SW15.

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Capital Economics: BoE will step in if boom spreads out of London

15 April 2014 2:22 pm | By Devraj Ray

London house prices rocket 17.7% in year to February; without London and South East, rest of country grows at 5.8%.

Comments (1)

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Halifax forced to delay online transfer application launch due to 'technical issue'

14 April 2014 12:42 pm | By Devraj Ray

There is currently no indication of when the problem will be fixed.

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The MMR could drive hundreds of conveyancers out of business

11 April 2014 4:41 pm | By Devraj Ray

Fears that declining conveyancer numbers could lead to transaction delays.

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Co-op Bank posts £1.3bn loss; reveals £411m redress driven by mortgage failings

11 April 2014 8:56 am | By Natalie Holt

Bank has to raise £400m after it found a number of redress and misselling issues following a past business review.

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MPC once again votes to keep base rate at 0.5%

10 April 2014 12:02 pm | By Paul Thomas

Base rate has been at a record-low 0.5% for 61 months.

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RICS: House sales at 6-year high

10 April 2014 10:42 am | By Paul Thomas

Majority of surveyors reporting house price increases.

Comments (2)

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Co-op woes continue as Lord Myners quits

10 April 2014 8:55 am | By Devraj Ray

Former Labour financial services secretary was asked in December to conduct a review of the group.

Comments (2)

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Barclays tops FCA complaints data again

9 April 2014 12:06 pm | By Tessa Norman

FCA reveals most complained about firms in second half of 2013

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BM Solutions U-turns on FTB lending over 'gaming' fears

9 April 2014 10:40 am | By Paul Thomas

Lender says the risk of someone staying in a property on a buy-to-let loan is greater than first thought

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Metro Bank founder Anthony Thomson to launch new digital bank

9 April 2014 9:01 am | By Tom Selby

Thomson is joining forces with First Direct chief executive Mark Mullen to launch ‘Atom’ in 2015.

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ASA bans Wonga TV advert

9 April 2014 8:55 am | By Devraj Ray

The advert must not be shown again in its current form.

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'Technical issue' hits Santander's new broker platform on launch

8 April 2014 11:58 am | By Devraj Ray

Some brokers have been unable to log on to the new MMR-compliant system since it launched yesterday; Lender says it will update brokers when fixed.

Comments (1)

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Exit plan in place for HTB 2

4 April 2014 3:43 pm | By Paul Thomas

Treasury financial secretary also says UK will look to minimise disruptions caused by European mortgage credit directive.

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CML urges FCA to be patient with MMR implementation

4 April 2014 2:29 pm | By Paul Thomas

CML director general Paul Smee says lenders could suffer “technical breaches” in the early days of new regulatory environment.

Comments (1)

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Protection advisers struggle to arrange Help to Buy life cover

4 April 2014 12:00 pm | By Devraj Ray

Advisers have raised concerns about how to put in place adequate life cover for the Government loan element of Help to Buy

Comments (7)

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RBS appoints new chief financial officer

4 April 2014 8:38 am | By Paul Thomas

Ewen Stevenson joins bank on 19 May.

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BoE: Lenders expecting surge in declines in coming months

3 April 2014 12:59 pm | By Paul Thomas

Lenders expect demand and mortgage rates to increase in next 3 months.

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RBS to close a further 44 branches

3 April 2014 8:44 am | By Paul Thomas

Bank says affected branches had limitd opening hours and classed as “last bank in town”.

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TMW shakes up B2L age limit criteria

2 April 2014 1:08 pm | By Devraj Ray

Nationwide’s buy-to-let arm will now impose a maximum age at application, with more people seeking to use rental proceeds as retirement income.

Comments (2)

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Santander unveils self-employed B2L criteria

2 April 2014 11:43 am | By Devraj Ray

Lender opens doors for non-professional and self-employed landlords with criteria update.

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Borrowers may have to wait weeks for branch adviser meetings

2 April 2014 10:30 am | By Paul Thomas

Warning that lenders’ face-to-face meetings could last more than 3 hours.

Comments (6)

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Skipton launches first securitisation in nearly 2 years

2 April 2014 9:48 am | By Paul Thomas

Deal will be used, in part, to fund new mortgage lending.

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London house prices grow at twice the UK average

2 April 2014 8:56 am | By Paul Thomas

Only London and South East now have average prices past their 2007 peak.

Comments (2)

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Aldermore increases mortgage lending by 38%

2 April 2014 8:22 am | By Paul Thomas

Profit grows by 1393% year-on-year.

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Approvals rocket 33% year-on-year in February

31 March 2014 11:39 am | By Devraj Ray

Approvals fall 7% on January’s figures though.

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FCA looks to keep underwriting standards in check in growing market

31 March 2014 11:25 am | By Paul Thomas

Regulator will look at lenders’ governance of their mortgage lending strategies.

Comments (2)

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Halifax reveals its MMR plans

28 March 2014 12:26 pm | By Devraj Ray

Halifax Intermediaries says it will by fully MMR-compliant from 14 April

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OFT fines estate agents almost £250k for money laundering failures

28 March 2014 11:59 am | By Devraj Ray

Three estate agency firms have been fined almost £250,000 for failing to meet anti-money laundering regulatory requirements.

Comments (1)

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EU looks to boost securitisation market

27 March 2014 10:42 am | By Paul Thomas

Chief financial regulator Michel Barnier may look to give securitisation “preferential regulatory treatment”.

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Broker jailed for six years for £3m fraud

27 March 2014 | By Devraj Ray

David Reid falsified documents to support fraudulent offshore investments to clients

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CML and MAS to publish consumer guide to MMR

26 March 2014 10:37 am | By Devraj Ray

The Mortgage Market Review will be implemented in one month, with lenders announcing changes to their application processes.

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Precise announces changes ahead of MMR

26 March 2014 10:33 am | By Devraj Ray

Lender insists brokers will experience “minimal” changes.

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Broker jailed for 6 years for conning clients out of £3m

25 March 2014 10:16 am | By Devraj Ray

David Reid found guilty of 23 counts of obtaining a money transfer by deception in February.

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Death of the tracker? 96% of buyers opt for a fixed deal

25 March 2014 8:00 am | By Paul Thomas

Proportion of borrowers taking out fixes rises despite increase in average rates.

Comments (1)

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Barclays reveals MMR updates

24 March 2014 1:45 pm | By Devraj Ray

Latest lender to provide brokers with details of its Mortgage Market Review updates.

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Santander loosens B2L criteria in 'game changing' move

24 March 2014 12:49 pm | By Paul Thomas

Brokers say Santander’s decision to lend to self-employed landlords with allow it to challenge B2L’s biggest players.

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