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Money Marketing Cover


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.


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.


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.


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)


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.


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.


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.


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.


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)

co-op 700

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)


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


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


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.


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.


'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)


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.


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)


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)


RBS appoints new chief financial officer

4 April 2014 8:38 am | By Paul Thomas

Ewen Stevenson joins bank on 19 May.


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.


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”.


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)


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.


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)


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.


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)


Aldermore increases mortgage lending by 38%

2 April 2014 8:22 am | By Paul Thomas

Profit grows by 1393% year-on-year.


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.


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)


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


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)


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”.


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

CML - 700

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.


Precise announces changes ahead of MMR

26 March 2014 10:33 am | By Devraj Ray

Lender insists brokers will experience “minimal” changes.


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.


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)


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.


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.

Comments (6)

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