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Virgin Money completes payment for Northern Rock

25 July 2014 12:11 pm | By Devraj Ray

Lender announces it is creating 200 new jobs as it completes purchase of Northern Rock.

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Barclays rules out review of its LTI cap

24 July 2014 1:01 pm | By Devraj Ray

Lender has no plans to bring its LTI cap in line with its high street rivals.

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BoE: Lenders may have underestimated the effect of MMR

24 July 2014 12:02 pm | By Devraj Ray

MPC members feel lending volumes will be suppressed longer than expected.

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Trade bodies reach landmark agreement on broker panel removals

24 July 2014 9:32 am

AMI and IMLA produce joint guidance on how lenders should approach panel removals.

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Santander set to introduce LTI cap on residential loans

23 July 2014 1:18 pm

Santander is the latest lender to introduce a cap on loan-to-income ratios, following Lloyds, RBS and Nationwide.

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MPC edges closer to base rate rise

23 July 2014 10:28 am | By Paul Thomas

Minutes show some members are edging closer to voting for a rate rise.

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Skipton sells HML for £47m

23 July 2014 8:58 am | By Natalie Holt

Australian listed firm Computershare is buying Skipton’s mortgage servicing arm, generating a £26m profit for Skipton.

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Nationwide slaps LTI cap on residential lending and tightens stress tests

22 July 2014 1:54 pm | By Devraj Ray

The lender has placed an income multiple cap of 4.75 times income on all residential applications.

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TSB considers purchase of £1.5bn UKAR loan book

21 July 2014 12:46 pm | By Devraj Ray

Newly-listed lender is looking to purchase a portfolio of £1.5bn in residential loans from the Government-owned entity.

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Santander tightens interest-only criteria

21 July 2014 11:31 am | By Devraj Ray

But lender increases maximum terms for Help to Buy equity loan mortgages from 25 to 35 years.

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FCA: Lenders’ MMR questions are just 'teething problems'

18 July 2014 9:29 am | By Tessa Norman

Over-zealous affordability checks are not evidence of unintended consequences, says FCA. 

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Brokers urge regulators to deal with rising mortgage terms

17 July 2014 5:04 pm | By Devraj Ray

PRA chief executive Andrew Bailey this week warned about increasing mortgage terms.

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Help to Buy Scotland runs out of funds

17 July 2014 1:40 pm | By Devraj Ray

House builders “frustrated” by the news that no new applications can be accepted until April.

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CML: Policymakers will hone in on buy-to-let next

16 July 2014 3:57 pm | By Devraj Ray

Trade body warns lenders to expect Bank of England to target buy-to-let next.

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Prime Minister upgrades housing minister role

16 July 2014 12:04 pm | By Devraj Ray

But PM falls short of making it a Cabinet position as Brandon Lewis takes hot seat; planning added to housing minister’s brief.

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Lloyds to pay full retention proc fees for all cases

16 July 2014 9:48 am

In August, Halifax and BM Solutions will pay full proc fees for retention deals regardless of LTV.

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Mark Carney defends Bank against London-centric accusation

15 July 2014 2:52 pm | By Steve Tolley

Carney tells MPs LTI move was designed to encourage mortgage lending outside the South East and cool London market.

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PRA chief issues warning over rising mortgage terms

15 July 2014 1:58 pm | By Steve Tolley

PRA chief executive Andrew Bailey warns trend could cause borrowers problems if their income falls in retirement.

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London house prices continue to surge ahead of the rest of the UK

15 July 2014 12:12 pm | By Devraj Ray

Exclusing London and South East, prices rose at 6.4% year-on-year.

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Payday lender trade body hits out at FCA's loan cap

15 July 2014 11:12 am | By Paul Thomas

Consumer Finance Association argues “many people” will be turned down for credit because of new rules.

Comments (2)

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UK inflation sees biggest rise for almost two years

15 July 2014 9:41 am | By Sam Macdonald

The consumer price index rose to 1.9 per cent in June, according to the Office for National Statistics.

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Lloyds Banking Group opens up Help to Buy MIG to new-builds

14 July 2014 11:13 am | By Paul Thomas.

Halifax and Lloyds Bank pulling out of NewBuy and Mi New Home on 4 September.

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Family BS launches and strikes Chase de Vere advice deal

14 July 2014 9:48 am | By Sam Macdonald

National Counties Building Society launches Family Building Society proposition with national adviser firm Chase de Vere providing financial planning services to its customers.

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Brokers slam Woolwich over commission payment delays

11 July 2014 5:15 pm | By Devraj Ray

Some brokers say they have had to wait up to two months for lender to pay commission.

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Base rate held again despite Bank's hints that an increase is coming

10 July 2014 12:24 pm | By Devraj Ray

BoE interest rate held at record-low for 64th consecutive month, while QE remains at £375bn.

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House prices up 8.8% despite falling buyer enquiries

9 July 2014 2:32 pm | By Devraj Ray

Halifax reports 8.8 per cent increase in house prices, despite sixth consecutive monthly fall in new buyer enquiries.

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PwC: House prices could jump 27% in 6 years

9 July 2014 1:10 pm | By Devraj Ray

New analysis predicts London average could top £545,000 by 2020.

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MPs plan Downing Street talks over Help to Buy 2 private sector transfer

9 July 2014 12:20 pm | By Devraj Ray

MPs Mary Macleod and Margot James to raise issue with No 10 in coming months.

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Equity release market grows 26% year-on-year

9 July 2014 8:00 am | By Devraj Ray

Equity release plan sales increased 5 per cent year-on-year in the first half of 2014.

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Former Conservative minister calls for regional stamp duty

8 July 2014 4:59 pm | By Steve Tolley

Former Tory minister wants manifesto pledge to tackle “disproportionate” cost of tax in London and South East.

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Senior Labour peer attacks Govt housing policy

4 July 2014 4:39 pm | By Steve Tolley

Ed Miliband adviser Stuart Wood says housing policy is based on “denial, bad economics and buck-passing”.

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Banks using Wonga-style debt collection tactics

4 July 2014 8:46 am | By Paul Thomas

Banks chasing customers for repayments using letters that look like they are from unattached debt collection firms.

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Total PPI payouts now exceed £15bn

3 July 2014 10:18 am | By Sam Macdonald

Total of £410.3m in payment protection misselling redress was paid out to customers in April

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BoE deputy governor: 'House prices biggest risk to the economy'

3 July 2014 8:30 am | By Paul Thomas

Sir John Cunliffe warns of consequences of a sustained rise in house prices.

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Carney moves to cap loan-to-income ratio on new mortgage lending

3 July 2014 | By Paul Thomas, Steve Tolley

From October, lenders must ensure no more than 15 per cent of new lending is at more than 4.5 times income

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FPC says stress test rules could push borrowers to longer fixes

3 July 2014 | By Paul Thomas, Steve Tolley

Bank committee says move to longer-term fixes could be a positive development for financial stability

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Boxing promoter has mortgage fraud sentence quashed on appeal

2 July 2014 4:41 pm | By Devraj Ray

Barry Hughes ordered to pay a £45,000 fine instead of serving a 43-month jail sentence.

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‘BoE bid to cool market will only affect small group of borrowers’

2 July 2014 12:30 pm | By Paul Thomas

Brokers say only borrowers - mainly in London - using Help to Buy 2 will be affected by BoE’s intervention.

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House prices surpass their 2007 peak

2 July 2014 8:43 am | By Paul Thomas

London house prices continue to outpace the rest of the UK with annual growth of 25.8 per cent.

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Principality U-turns on maximum age lending policy

1 July 2014 4:39 pm | By Paul Thomas

Lender reintroduces maximum age limit on residential and buy-to-let applications.

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