Money Marketing
Paul Thomas Editorial

Paul Thomas joined Money Marketing in January 2010 as mortgage reporter. After graduating from university, he traveled Australasia before returning to complete a postgraduate qualification in journalism, in Brighton.

Bright Grey and Scot Prov improve CI definitions

24 May 2012

Providers add extra ABI+ definition and two new definitions.
Lenders pledge not to tie proc fees to quality

23 May 2012

Barclays, Nationwide, Platform, GE Money and Virgin Money say they have no plans to implement quality-based proc fees.
FSA: Lenders have asked for interest-only ban

23 May 2012

FSA manager of mortgage policy Lynda Blackwell says some lenders want the MMR to go further on interest-only.
'MAS must go further and offer consumers guidance'

24 May 2012

The Financial Services Consumer Panel has called for the Money Advice Service to “push regulatory boundaries” and widen its scope beyond signposting the options available to consumers.
Abbey and Halifax cut fixed rates by up to 0.2 per cent

22 May 2012

Abbey for Intermediaries and Halifax to cut fixed rate deals.
Consumer Panel calls for MAS to "push regulatory boundaries"

22 May 2012

FSCP calls for MAS to “deliver more for consumers”.
Capita acquires Medicals Direct for £13.2m

21 May 2012

Deal could rise to £15.2m depending on performance.
Abbey offers fixed deals for NewBuy scheme

17 May 2012

Abbey for Intermediaries has launched a range of products for the Government’s housing initiative NewBuy.
BSA says mortgage prisoners will be hit by strict affordability rules

17 May 2012

The Building Societies Association says there will still be a significant amount of so-called “mortgage prisoners” despite transitional arrangements in the mortgage market review designed to avoid this.
BSA says mortgage prisoners will be hit by strict affordability rules

17 May 2012

The Building Societies Association says there will still be a significant amount of so-called “mortgage prisoners” despite transitional arrangements in the mortgage market review designed to avoid this.
Hanley Economic chief Webster becomes BSA chairman

17 May 2012

The Building Societies Association has appointed Hanley Economic Building Society chief executive David Webster as chairman for the next year.
Imla warns that MMR will hit harder than expected

17 May 2012

The mortgage market review will have a much bigger impact than the FSA currently expects, according to Intermediary Mortgage Lenders Association executive director Peter Williams.
Solvency test

17 May 2012

Could regulation coming out of Europe ultimately restrict mortgage availability? Paul Thomas reports
Abbey for Intermediaries launches NewBuy range

12 May 2012

AfI’s rates begin at 5.49 per cent.
ABI urged to support cover statements

11 May 2012

Former Ageas managing director Martin Werth is calling on the ABI to make it compulsory for its member firms to send out annual benefit statements to protection customers.
NewBuy flawed

11 May 2012

Paul Thomas reports problems are already starting as rates rise on the Government’s much heralded scheme
Council looks at 20% Mig deal for FTBs

11 May 2012

Southampton City Council is the latest to look at launching a mortgage indemnity scheme to help first-time buyers with small deposits.
FSA sets out draft crisis plan rules

10 May 2012

FSA tells banks and investment firms to develop crisis plans.
Base rate held and no more QE

10 May 2012

Base rate held for 38th consecutive month.
BSA appoints David Webster as new chairman

10 May 2012

Webster replaces Principality Building Society chief executive Peter Griffiths.
CBI forecasts UK growth in second half of the year

10 May 2012

The UK economy will see growth in the second half of the year after falling into recession in the first quarter, according to the Confederation of British Industry.
Co-op exit is bad sign for interest-only sector

10 May 2012

Brokers fear more lenders will pull out of interest-only lending after the Co-operative Bank announced it is pulling out of the market for residential mortgage customers.
FSA backs campaign against chasers over charges

10 May 2012

The FSA is backing the Which? and Moneysaving- expert.com campaign against claim firms that charge consumers a fee without telling them they could claim for free.
Group risk market returns to growth

10 May 2012

The group risk market grew by 2.9 per cent in 2011 after falling in 2010, according to a new report on the sector compiled by Swiss Re.
Lloyds to shrink its share of the mortgage market

10 May 2012

Lloyds Banking Group is planning to cut its share of the mortgage market from 28 per cent to 25 per cent.
Personal Touch interim chief exec Wright takes up permanent role

10 May 2012

Personal Touch Financial Services has appointed Max Wright as its new chief executive.
Sesame AR fees rise due to regulator

10 May 2012

Sesame appointed representatives will see their fixed membership charges rise by more than 50 per cent, with overall costs increasing on average by around 9 per cent.
Shipman buys Devon HNW specialist firm

10 May 2012

IFA firm Shipman Financial Planning has acquired CMC Financial Services.
Sesame increases member charges due to regulatory costs

8 May 2012

Weekly fees to increase by more than 50% for IFAs and mortgage brokers.
80% of people who are HIV+ unaware they can get life assurance

8 May 2012

According to specialist adviser Unusual Risks, around 50% of insurers offer life assurance to HIV sufferers.
Advisers launch gender neutral pricing good practice guide

8 May 2012

Good practice guide aimed at insurers to make sure customers treated fairly in transition.
Shipman Financial Planning acquires Devon-based IFA

4 May 2012

CMC Financial Services has around £25m in funds under management.
A bridge too far

4 May 2012

Paul Thomas reports on why mortgage distributors are increasingly shying away from unregulated bridging loan providers
NewBuy lenders raise rates

4 May 2012

Lenders have increased the rates on mortgage products they developed for the Government’s indemnity guarantee scheme just over seven weeks after its launch.
Proc fee fears over Abbey fast track

4 May 2012

Some brokers are opting out of using Abbey for Intermediaries’ fast-track facility due to concerns over its strict rules.
Personal Touch appoints Max Wright as new chief executive

3 May 2012

Wright has been interim chief executive since February.
Skipton set for RMBS of up to £550m

3 May 2012

Skipton Building Society is to launch a securitisation backed by a pool of mortgage loans totalling between £450m and £550m.
Soutar picked to head operations at Virgin Money

3 May 2012

Virgin Money has recruited Capita’s Gordon Soutar as operations director with Brian Brodie becoming customer and distribution director.
Barclays adds £300m to PPI compensation pot

3 May 2012

Barclays has made a further £300m provision for PPI redress after experiencing an increase in claim volumes.
Connaught says Ucis cash will not be paid on time

3 May 2012

Connaught Asset Management has told investors in one of its unregulated collective investment schemes that they will not get their latest interest payments on time and has temporarily suspended a second Ucis fund.
Co-op loses exclusive deal on Lloyds branches

3 May 2012

Lloyds Banking Group has ended its exclusivity agreement with the Co-operative Group over the sale of its 632 bank branches.
Double-dip shows QE boost is the right strategy, says MPC duo

3 May 2012

Bank of England monetary policy committee member Martin Weale told BBC Radio Newcastle last week the case for increasing quantitative easing is stronger after news the economy has slipped back into recession.
Euro loan directive delayed to make more amendments

3 May 2012

The European parliament’s economic and monetary affairs committee has delayed the vote on its proposed final text for the European mortgage credit directive until May 8.
HSBC raises maximum newbuild LTV to 85%

3 May 2012

HSBC is increasing its maximum loan-to-value ratio on newbuild mortgages from 75 per cent to 85 per cent.
HSBC scraps tied advice service and axes 650 jobs

3 May 2012

HSBC is axing its tied advice service in a move that will see up to 650 advisers lose their positions.
Loan firms warned to look out for property hijackers

3 May 2012

The FSA is warning mortgage brokers to be wary of property hijacking.
NAB to cut 1,400 UK jobs

3 May 2012

National Australia Bank, owner of the Clydesdale and Yorkshire bank brands, is to cut 1,400 jobs in the UK by 2015 as part of a streamlining of operations.
Newcastle cuts interest-only LTV to 50%

3 May 2012

Newcastle Building Society has reduced its interest-only maximum loan to value from 75 per cent to 50 per cent.
Lenders hike NewBuy rates less than 2 months after launch

1 May 2012

Product rates have been increased by up to 0.5%.
Leek United BS caps interest-only LTV at 50%

30 Apr 2012

Previously it lent up to 75% LTV on an interest-only basis.
Man convicted of laundering boiler room funds

30 Apr 2012

Michael McInerney sentenced to four and a half years in jail.
Income Protection Task force creates draft IP charter

30 Apr 2012

IPTF calling for a quality standard to differentiate IP from PPI.
Govt mutual launched to administer civil service pensions

30 Apr 2012

Former Honister Capital chief executive Mark Lund joins as non-executive director.
Lloyds ends exclusivity agreement with Co-op

27 Apr 2012

Co-op still preferred bidder but talks are no longer exclusive.
Quality control

27 Apr 2012

As lenders are increasingly putting quality of business before volume, Paul Thomas asks if this is a way of introducing proc fee cuts by the back door
Connaught Ucis investors miss interest payments

27 Apr 2012

Asset manager contacts investors in one of its funds to inform them payments would be late.
MPC member Martin Weale says case for more QE "stronger"

27 Apr 2012

Slip back into recession means case for more quantitative easing is stronger.
S&P downgrades Spain's credit rating

27 Apr 2012

Ratings agency downgrades Spain by two notches.
HSBC axes tied advice service- 650 jobs to go

26 Apr 2012

Move follows announcements from Lloyds and Nationwide about their direct propositions.
Barclays sets aside additional £300m for PPI redress

26 Apr 2012

Total set aside has hit £1.3bn.
Investec and West Brom relaunch RMBSs

26 Apr 2012

Investec and West Bromwich Building Society have both relaunched the securitisations they postponed last year.
Coventry enters securitisation with £1bn issue

26 April 2012

Coventry Building Society has entered the securitisation market for the first time with a £1.1bn issue.
ING Direct slashes interest-only LTV

26 April 2012

ING Direct has cut its maximum loan-to-value ratio on interest-only lending from 75 per cent to 50 per cent.
Newcastle BS cuts interest-only max LTV to 50%

25 Apr 2012

Previously, maximum LTV was 75%.
Standard Life's platform assets up 26%

25 Apr 2012

Assets under management up from £10bn to £12.6bn to year ending March 31, 2012.
BoE's David Miles says his vote for more QE is justified

25 Apr 2012

Miles was sole member of MPC to vote for more QE in April.
Santander launches £775m securitisation

24 Apr 2012

Transaction is second of 2012 and is denominated in US dollars.
FSA tells firms to name responsible individuals

24 Apr 2012

Firms asked to identify by name senior executives in charge of specific policies or actions.
Three jailed in £4m offshore investment scam

24 Apr 2012

Two men and one woman jailed for total of eighteen and a half years.
The prisoner of lender

20 Apr 2012

Paul Thomas looks at plans from lenders and the FSA to help borrowers trapped with their mortgages
Coventry enters securitisation market for first time

19 Apr 2012

Coventry Building Society has entered the securitisation market for the first time with a £1.1bn issue.
Mortgage fees leap by 27%

19 April 2012

The average mortgage fee has increased by 27 per cent to £1,502 in the last three years, according to Moneyfacts.co.uk.
Principality cuts back interest-only but keeps 85% LTV deals

19 April 2012

Principality Building Society is restricting its interest-only offering to just three products but has retained its 85 per cent loan-to-value ratio mortgage.
ING Direct to cut interest-only max LTV to 50%

18 Apr 2012

Lender to cut max LTV to 50% from midnight tomorrow.
Capital Economics says QE set to rise again in 2012

13 Apr 2012

Firm says QE will rise later this year.
DAs lose the case for cash

13 Apr 2012

Paul Thomas reports that lenders are rethinking their distribution strategies in light of the FSA’s new stance and directly authorised firms could suffer
Number of mortgage advice firms falls by 10%

12 Apr 2012

The number of mortgage advice firms fell by nearly 10 per cent last year, according to FSA figures.
Hodge Lifetime offers early repayment without charges

12 Apr 2012

New mortgage allows customers to pay off up to 10% of their initial loan each year without incurring early repayment charges.
AMI says panel out of touch over non-advised loan sales

11 April 2012

The Association of Mortgage Intermediaries claims the Financial Services Consumer Panel is out of touch with consumers’ needs after it called for the FSA to scrap its proposed ban on non-advised mortgage sales.
AMI wants 10% borrowing deal for loan prisoners

11 April 2012

The Association of Mortgage Intermediaries is calling for “mortgage prisoners” to be able to take on additional borrowing of up to 10 per cent as long as it is in their best interests.
Leeds BS to abandon income multiples

10 Apr 2012

Leeds Building Society abandons income multiples in favour of affordability calculator.
ABI plans consumer website for protection

10 Apr 2012

The Association of British Insurers is considering setting up a website that would provide consumers with general information about protection.
No change to base rate or QE

5 Apr 2012

Base rate held at 0.5% for 37th consecutive month.
Aegon to offer tax-efficient relevant life cover

5 Apr 2012

Aegon UK has launched a relevant life product that allows employers to set up single-life cover for employees in a tax-efficient manner.
Analysis: Is this the end for 95% LTVs?

5 Apr 2012

The prospects for aspiring home-owners with a 5 per cent deposit are likely to be bleak for some time, Paul Thomas reports.
Consumer panel wants to keep non-advised sales

5 Apr 2012

The Financial Services Consumer Panel has called for the FSA to scrap its proposed ban on non-advised mortgage sales.
Ami calls for 'mortgage prisoners' to get 10% borrowing flexibility

5 Apr 2012

Ami says transitional arrangements in MMR should be strengthened.
AMI backs non-advised ban plan

05 April 2012

The Association of Mortgage Intermediaries has spoken out in support of the FSA’s plans to ban non-advised mortgage sales after trade bodies representing lenders rallied against the proposal.
IFA firm wins £6,000 grant to fund charity work in Africa

05 April 2012

IFA Alexandra Financial Management has secured more than £6,000 from global financial adviser body the Million Dollar Round Table to support its charity work for orphans in Africa.
Leeds is latest to slash interest-only LTV to 50%

05 April 2012

Leeds Building Society is the latest lender to restrict its interest-only products, cutting its maximum loan-to-value ratio from 75 per cent to 50 per cent.
Nationwide and Lloyds cut proc fees

05 April 2012

Nationwide Building Society and some Lloyds Banking Group brands have cut procuration fees.
Coventry BS launches 3.99% five-year fixed up to 65% LTV

3 Apr 2012

Product part of a range of five-year fixed rates launched.
Consumer panel calls for new FSA rule to protect 'mortgage prisoners'

3 Apr 2012

Panel wants FSA to strengthen its transitional arrangements to protect borrowers whose mortgages may fall foul of proposed MMR rules.
LV= enhances critical illness cover

2 Apr 2012

Provider increases number of conditions and partial payments covered.
Nationwide and Lloyds cut proc fees

2 Apr 2012

It is thought Nationwide and LBG’s BM Solutions brand have cut proc fees by 2 bps.
Co-operative Bank to increase SVR by 0.5%

2 Apr 2012

Lender to increase SVR on May 1.
Ami backs FSA's non-advised sales ban

30 Mar 2012

Ami backs proposal after lender trade bodies hit out at non-advised ban.
Leeds' £250m bond to fund mortgages

30 Mar 2012

Leeds Building Society has launched a £250m publicly placed covered bond that will be used to help fund mortgage lending.
Stamp of disapproval

30 Mar 2012

Government measures to combat stamp duty avoidance when expensive properties are bought through a company could hit the buy-to-let and institutional investment sectors.
Leeds BS cuts interest-only LTV to 50%

29 Mar 2012

Lender cuts maximum LTV to 50%.
Intrinsic merging IFA arms to form 600-firm network

29 Mar 2012

Intrinsic is merging its IFA arms Intrinsic Wealth Management and Mint Financial Services to form a new IFA network, Intrinsic Independent.
Santander tightens interest-only noose

29 March 2012

Santander has further tightened its interest-only criteria and will no longer accept pensions, the sale of a second property, bonuses or cash savings as repayment vehicles.
L&G pays 93.2% of CI claims in 2011

28 Mar 2012

Proportion of claims paid up from 91.8% in 2010.
NatWest Intermediaries restricts DA access to corporate range

28 Mar 2012

Directly authorised firms only have access to lender’s core range.
Woolwich revamps online case booking system

28 Mar 2012

Woolwich is revamping its online case booking system so intermediaries will no longer have to wait until midnight to book funds.
Towry looks to revive IPO bid

27 Mar 2012

Firm eyes IPO if markets become less volatile.
Govt in talks with Abu Dhabi over RBS sale

26 Mar 2012

Government reportedly in talks to sell up to a third of its stake in RBS.
Skipton BS pulls out of 95% LTV lending temporarily

26 Mar 2012

Its two 95% LTV products will be pulled at close of business today due to excessive demand.
Skipton BS cuts interest-only LTV to 60%

26 Mar 2012

Move takes effect from March 27.
Towergate Financial in advice tie-up with Melton Mowbray BS

26 Mar 2012

Towergate to have in-house adviser in all three of building society’s branches.
Support growing for protection awareness day

26 Mar 2012

Paul Thomas reports on industry reaction to awareness proposal.
Skandia UK appoints Ian Jeffries as head of protection

26 Mar 2012

Jeffries previously Ageas Protect’s head of sales and marketing.
Santander tightens interest-only criteria again

23 Mar 2012

Pensions, the sale of a second property, bonuses or cash savings no longer acceptable repayment vehicles from Wednesday.
Borrowers caught in a trap

23 Mar 2012

Mortgage advisers are warning that tighter interest-only criteria will trap hundreds of thousands of borrowers and leave them unable to remortgage.
CHL sale on hold as IL&P is reviewed

23 Mar 2012

Irish Life & Permanent has delayed its decision on the sale of buy-to-let lender Capital Home Loans until the Central Bank of Ireland completes its review of IL&P.
Nationwide sets up £1.5bn securitisation

23 Mar 2012

Nationwide has set up a £1.5bn securitisation backed by UK prime residential loans.
The return of dual pricing

23 Mar 2012

Paul Thomas reports on the return on dual-pricing
NatWest temporarily suspends interest-only lending

22 Mar 2012

Lender will reintroduce interest-only option for certain products next week.
Lloyds announces Project Verde operational centres

22 Mar 2012

Five operational sites will be included as part of branch sell-off.
Lakey launches CI comparison website

22 Mar 2012

Alan Lakey has set up a critical illness insurance comparison website which allows advisers to compare policies from every CI cover provider.
Ex-Kensington director sets up bridging lender

22 Mar 2012

Michael White has set up a bridging lender which specialises in lending to professional sportspeople, entertainers and property developers.
Predictions of further sharp falls ahead for inflation

22 Mar 2012

Capital Economics predicts inflation will fall below the Bank of England’s target of 2 per cent this year after the consumer price index fell in February.
Agents warn clients after HSBC cuts conveyancers

22 March 2012

Estate agents have started to alert mortgage borrowers over possible problems in using HSBC because of its recent decision to cut its conveyancing panel to just 42 firms, according to The Law Society.
Cheshire Mortgage Corp changes contract terms after regulator's check

22 March 2012

Sub-prime lender Cheshire Mortgage Corporation has changed the wording of some of its mortgage contract terms after the FSA labelled them unfair.
FSA 'crawling all over' commercial lenders

22 March 2012

FSA chairman Adair Turner says the regulator is “crawling all over” lenders’ practices in the commercial real estate sector.
FSA didn't consult on fine let-off

22 March 2012

The FSA did not consult the Government or HM Revenue & Customs before deciding not to fine HBOS following “very serious misconduct” at subsidiary Bank of Scotland.
'FTBs won't be hit by MMR'

22 March 2012

FSA chairman Adair Turner says the mortgage market review will affect first-time buyers the least.
Hard look at issue of footprints

22 March 2012

The FSA is looking at lenders’ use of hard footprints when checking potential borrowers’ credit records.
Portillion pulls out of bid for banking licence

22 March 2012

Would-be lender Portillion has withdrawn its application to the FSA for a banking licence.
Regulator is helpless on interest-only timebomb

22 March 2012

FCA chief executive designate Martin Wheatley has admitted the regulator may be powerless to diffuse an interest-only “ticking time-bomb”, where thousands of borrowers will be unable to repay the capital at maturity.
Talk buy to boost Bureau

22 March 2012

Mortgage Advice Bureau chief executive Peter Brodnicki says the acquisition of Mortgage Talk will allow the brokerage to boost its share of the newbuild market.
Turner says it's not OK to base loans on price rises

22 March 2012

The overriding principle of the mortgage market review is that banks should not lend to borrowers who cannot afford a mortgage based on a belief that property prices will rise, according to FSA chairman Adair Turner.
Budget 12: Child benefit threshold increased to £50,000

21 Mar 2012

Families will lose 1% of benefit for every £100 over £50,000.
Budget 12: Govt to cut corporation tax to 24% next month

21 Mar 2012

Corporation tax will fall to 22 per cent in 2014.
Budget 12: Osborne pledges to increase homebuilder fund

21 Mar 2012

Chancellor pledges to expand fund which provides finance for construction firms.
MPC split over QE increase

21 Mar 2012

Two member voted for QE increase earlier this month.
Foster Denovo appoints new director of sales and marketing

20 Mar 2012

Darren Laverty becomes director of sales and marketing.
Aviva pays 99% of protection claims in 2011

19 Mar 2012

Insurer pays out a total of £439m to customers in 2011.
MetLife relaunches group life protection product

19 Mar 2012

MetLife makes number of product changes as part of relaunch.
BC Partners buys back majority stake in Foxtons

19 Mar 2012

According to the Telegraph, BC Partners acquires Foxtons for between £55m and £75m.
Mortgage Advice Bureau acquires Mortgage Talk

19 Mar 2012

Mortgage Advice Bureau has acquired Mortgage Talk in exchange for shares in the MAB group.
Mansion tax would hit the South-East

16 Mar 2012

Brokers have dismissed the Liberal Democrats’ proposal for a 1 per cent mansion tax on properties worth over £2m as unworkable.
Newbuild Mig gets flying start with 95% loans

16 Mar 2012

Brokers predict the Government’s indemnity guarantee scheme will be a success after Barclays, Nationwide and Nat-West launched cheap 95 per cent loan-to-value products for newbuild homes.
Aegon UK pays out 93% of CI claims in 2011

16 Mar 2012

Figure up from 91% in 2010.
Barclays closes online case booking system

16 Mar 2012

System closed due to technical issue and expected to reopen on Monday.
ABI considers annual protection awareness day

16 Mar 2012

The ABI protection strategy committee says it is considering creating a protection awareness day to increase take-up among consumers.
Putting on the breaks

16 Mar 2012

Calls for Chancellor George Osborne to announce new tax relief measures for landlords in next week’s Budget have split the mortgage industry.
FSA raises concerns over sub-prime lender's mortgage terms

15 Mar 2012

Cheshire Mortgage Corporation has since changed the “unfair” terms.
Code aims to tackle sellers' failings

15 March 2012

Lifesearch has launched a protection seller’s code of conduct which aims to tackle the “most obvious current failings” in protection distribution so customers are not put at risk.
Credit Suisse is set for £340m sub-prime RMBS

15 March 2012

Credit Suisse Group is launching a £340m securitisation made up of sub-prime mortgages which Fitch Ratings says is the first sub-prime RMBS deal of this year.
Fears over quality of adviser influx

15 March 2012

Lifesearch says it is concerned there will be an influx of poor quality advisers in the protection market when the RDR comes into force and has urged providers to be careful which advisers they deal with.
Will it be further three years for 0.5% bank rate?

15 March 2012

The Bank of England’s monetary policy committee has kept bank rate at 0.5 per cent for the 36th consecutive month and has held its programme of quantitative easing at £325bn.
FSA is powerless against interest-only mortgage "time bomb"

14 Mar 2012

FSA says regulation cannot do much to help borrowers with no way to repay capital.
FSA "crawling all over" lenders' commercial lending operations

14 Mar 2012

Turner admits the FSA has not done enough to monitor commercial lending in the past.
Scot Prov pays out 91% of CI claims in 2011

14 Mar 2012

Total of £90m paid to CI customers in 2011.
RGA UK appoints Simon Wainwright as new MD

13 Mar 2012

Wainwright takes up role on March 26.
Towergate Insurance appoints new M&A director

13 Mar 2012

Dan Saulter takes up role on May 1.
Repossessions up 8% year-on-year in Q4

13 Mar 2012

Arrears down 14% year-on-year in Q4.
FTB activity up 23% in January year-on-year

13 Mar 2012

But FTB activity down 30% on December.
Aviva overhauls IP underwriting practices

13 Mar 2012

Insurer claims 95% of applicants now underwritten on an own occupation basis.
MetLife Assurance appoints Wayne Daniel as chief exec

12 Mar 2012

Daniel previously vice president of MetLife Assurance.
Clydesdale and Yorkshire Banks to increase SVR

9 Mar 2012

SVR to increase from 4.59% to 4.95% on May 1.
Raising the standard

9 Mar 2012

Brokers feel Halifax’s move to raise its SVR could be the start of a chain reaction, Paul Thomas reports
Co-op's bid for Lloyds branches stalls

9 Mar 2012

Report in FT states FSA wants Co-op to overhaul board before authorising sale.
Annual allowance most likely target for pension relief cut

9 Mar 2012

George Osborne considers cutting allowance from £50,000 to £40,000.
Baigrie warns of influx of "low quality" protection advisers

9 Mar 2012

Baigrie says low quality advisers will enter market in run up to RDR and gender neutral pricing.
Ageas Protect looking at business cover sector

9 Mar 2012

Ageas Protect is considering entering the business protection market and could launch by the third quarter of this year.
Providers show support for protection awareness day

9 Mar 2012

Friends Life is looking to produce an annual benefit statement for its protection customers.
Base rate held and no more QE

8 Mar 2012

Base rate held for 36th consecutive month.
Santander says it will not increase SVR

8 Mar 2012

Lender says it will not follow rivals and increase SVR in “immediate future”.
Aviva committed to UK "hook, line and sinker"

8 Mar 2012

Aviva UK Life chief executive David Barral says insurer has “no plans” to move its head office out of the UK.
FT reports that higher rate relief will be cut

8 Mar 2012

Government will pay for benefit payments by restricting tax relief on pension contributions for higher earners.
£5.8M golden hello for new Lloyds finance chief

8 March 2012

Lloyds Banking Group has agreed a golden hello package of up to £5.8m for new group finance director George Culmer to prise him from his 12-month notice period with RSA Insurance Group.
CML wants stamp duty holiday extended

8 March 2012

The Council of Mortgage Lenders has called on the Government to extend the stamp duty holiday beyond March 24 in this month’s Budget.
Coventry wins 17% slice of the mutual market

8 March 2012

Coventry Building Society advanced £4bn of new lending in 2011, up by 14.3 per cent from £3.5bn in 2010.
Exit of Unum from individual IP sector will hit self-employed

8 March 2012

Protection advisers say Unum’s decision to pull out of individual income protection is a heavy blow to the self-employed market.
House prices edge up in London but fall in North

8 March 2012

The average house price in England and Wales rose by 1 per cent from £160,384 in December 2011 to £161,545 in January this year, according to the Land Registry.
Mortgage broker jailed for fraud after Met alerted to 'lavish lifestyle'

8 March 2012

A fraudulent mortgage broker has been sentenced to two and a half years in prison following an investigation by financial investigators from the Metropolitan Police Service.
Mutual mortgage lending leaps by a third

8 March 2012

Building societies and other mutual lenders increased their gross mortgage lending by 32 per cent and mortgage approvals by 54 per cent in January, year on year.
NRAM repaid £2bn of its Government debt in 2011

8 March 2012

Northern Rock Asset Management paid back £2bn of its Government loan in 2011, according to the results of its holding company UK Asset Resolution.
Ami set to air MMR fears in FSA meeting

7 Mar 2012

Ami director Robert Sinclair is meeting with the FSA to discuss Ami’s concerns that lenders are pre-empting the final MMR interest-only rules.
Research shows more advisers may offer hybrid advice models

7 Mar 2012

63% of advisers to remain independent post RDR, down from 83.5% last year.
FSA issues communication guidance on missold PPI

6 Mar 2012

Regulator publishes guidance about how firms should contact customers who may have been missold PPI.
Half of borrowers have not reviewed mortgage in 3 years

6 Mar 2012

Around 42% of fixed rate borrowers are paying more than 5% despite record-low base rate.
House prices down 1.9% year-on-year in February

6 Mar 2012

House prices now stand at £160,118.
Regulators meet to discuss Libor overhaul

6 Mar 2012

Regulators and major banks meet to discuss how Libor is calculated and regulated.
Ageas Protect appoints Darren Spriggs as managing director

5 Mar 2012

Jane Dale appointed as new finance director.
Protection take up falling, says Bright Grey

5 Mar 2012

Take up dips despite 20 million adults saying would not be able to last longer than 6 months on savings.
ABI launches annuities code of conduct

5 Mar 2012

Compulsory code launched to ensure people get best possible retirement income.
Treasury looks at options to ease child benefit cut

5 Mar 2012

Changes mean families in which one person earns £42,745 not receive the payment.
RBS increases offset and One Account rates by 0.25%

2 Mar 2012

The bank says around 200,000 customers will be affected.
Back calls for annual protection awareness day

2 Mar 2012

Money Marketing has thrown its support behind calls for the creation of a protection awareness day.
Are house prices set to tumble?

2 Mar 2012

Capital Economics has forecasted a 20% fall in house prices over the next four years but do the experts agree?
Unum to pull out of individual IP market

1 Mar 2012

Provider will close individual IP products to new applications on March 2.
Lloyds offers finance director £5.8m "golden hello" package

1 Mar 2012

George Culmer joins from RSA Insurance Group on May 16.
Coventry BS increases lending by 14% in 2011

1 Mar 2012

Building society reports pre-tax profit of £84.6m, a 12% increase on previous year.
Aviva sets up site to help with claims

1 March 2012

Aviva has launched a new website to help customers who need to make a claim on a life insurance or critical-illness policy.
Barclays investment and PPI complaints soar

1 March 2012

Investment complaints to Barclays Group leapt by 77 per cent last year while protection complaints more than doubled.
Boulger says Halifax could increase SVR

1 March 2012

Brokers are warning Halifax is likely to increase the standard variable rate for all existing customers in the next few months following its decision to raise the SVR cap for around 40,000 borrowers.
Critical advisers ask why trio don't cut premiums

1 March 2012

Advisers have hit out at Bright Grey, Scottish Provident and Scottish Widows for not reducing critical-illness insurance premiums when they apply exclusions for some policy conditions.
FSA fines mortgage broker for inaccurate applications

1 March 2012

The FSA has fined Devon mortgage broker Mark Joseph Laurenti of Independent Mortgage Advisory Service Limited £14,000 for repeatedly submitting inaccurate mortgage applications.
Mortgage business falls 6% for Lloyds Bank

1 March 2012

Lloyds Banking Group mortgage business fell by 6 per cent last year to £28bn from £30bn in 2010.
PruProtect moves into £9.9m profit as business soars by 31%

1 March 2012

PruProtect sales leapt by almost a third last year to £31.4m from £23.9m in 2010.
ScotProv survey reveals wide gender divide on life cover

1 March 2012

Men have an average of almost 50 per cent more life cover than women, according to new research from Scottish Provident.
Split over QE3 could mean bigger boost is on the way

1 March 2012

Economists say the Bank of England’s monetary policy committee is likely to increase its quantitative easing programme in the coming months after members were split over how much to boost QE this month.
Accord withdraws residential range due to demand

29 Feb 2012

Lender withdrawing range temporarily due to unprecedented number of applications.
Repossession avoidance firm opens doors to intermediaries

28 Feb 2012

Firm decides to offer services through intermediaries two years after setting up.
Lloyds Banking Group deputy chairman to retire

27 Feb 2012

Glen Moreno will step down at AGM on May 17.
Insurers to add jobs to own-occupation cover

24 Feb 2012

Ageas Protect, Aviva and LV= say they will look to include more job classes in their own-occupation definition for income protection customers by the end of the year.
Novia launches lifestyle modelling tool

24 Feb 2012

Novia is offering a new financial modelling tool that will analyse clients’ financial requirements to achieve future lifestyle goals.
Sub-prime motivation

24 Feb 2012

Demand for riskier mortgage debt seems to be on the rise, offering hope of increased funding and an increase in mortgage lending.
Yorkshire BS lending up 46% in 2011

23 Feb 2012

YBS advanced £4.1bn in new lending in 2011, up 46% on £2.8bn in 2010.
Skandia looks at return to critical illness cover market

23 Feb 2012

Skandia is considering re-entering the critical-illness insurance market almost 18 months after pulling out of the sector.
Lloyds latest to rethink interest-only

23 February 2012

Lloyds Banking Group is the latest lender to tighten up interest-only criteria for new customers.
Second push for Aviva protection campaign

23 February 2012

Aviva is launching a range of support materials to help advisers raise the topic of protection with clients and is re-running its TV advertising campaign on life insurance.
Lifesearch in deal with comparethemarket.com

22 Feb 2012

Comparethemarket.com has entered into an exclusive deal with Lifesearch to refer users looking for life insurance to the telephone-based adviser.
LV= launches free trust builder tool

21 Feb 2012

Tool helps advisers write new and existing life policies in trust.
Leeds BS reports 25% lending increase in 2011

21 Feb 2012

Society lends £1.2bn in 2011, up 25% on £984m advanced in 2010.
Ageas UK's protection business up 89%

20 Feb 2012

Gross written premiums up 89% to £44.6m in 2011, up from £23.6m the year before.
Aviva develops protection sales aids for advisers

20 Feb 2012

The insurer is re-airing its TV ad campaign on life insurance, featuring Paul Whitehouse.
Ex-Aldermore chief Snowdon sets up higher-LTV venture

17 Feb 2012

Former Aldermore chief executive of residential mortgages Colin Snowdon has started work on a new project specialising in bringing higher loan-to-value mortgages into the market.
Niche work if you can get it

17 Feb 2012

Brokers say Santander’s decision to cap all interest-only lending at 50 per cent loan to value could be the trigger that sees the product return to a niche status.
FSA awarded legal costs over "unreasonable" referral proceedings

17 Feb 2012

Regulator successfully defends decision to remove permission of accountancy firm.
PruProtect warning over access requests

17 Feb 2012

PruProtect has criticised insurers’ use of subject access requests to bypass GP reports when obtaining customers’ medical information.
L&G cuts with-profits bonus rates

16 Feb 2012

L&G cuts bonus rates by 0.25 per cent on average.
£50Bn QE rise could reduce loan costs and aid borrowers

16 February 2012

The Bank of England’s monetary policy committee has voted to increase its programme of quantitative easing by £50bn.
FSA shelves individual loan broker registration

16 February 2012

The FSA has indefinitely delayed its plans to introduce individual registration for mortgage brokers.
Gross lending stable as Barclays profits hit £6bn

16 February 2012

Barclays saw profits fall by 3 per cent last year to £5.9bn from £6.1bn in 2010.
Repos at lowest level in five years

16 February 2012

The number of properties repossessed last year was the lowest since 2007, according to data from the Council of Mortgage Lenders.
LV= pays 95% of protection claims in 2011

15 Feb 2012

LV= pays 91% of IP claims, 88% of CI claims and 100% of life claims.
The 10 things customers should know about income protection

14 Feb 2012

The Protection Review and the Income Protection Task Force have produced a top 10 list of things customers should take into account when buying IP.
Barclays hires new retail lending MD

14 Feb 2012

Steve Weston joins from National Australia Bank.
Holloway Friendly pays 96% of IP claims

14 Feb 2012

Payout rate is increase on 95.5% of claims paid out in 2010.
Virgin Money hires former HML chief

14 Feb 2012

Brian Brodie has joined Virgin as its new operations director.
Saffron BS sells IFA business to Towergate

14 Feb 2012

Deal sees firm, under Towergate’s stewardship, providing advice to Saffron customers.
Woolwich to launch tracker-to-fixed hybrid

13 Feb 2012

Mortgage tracks 2.99% above base for two years then switches to 4.29% three-year fix.
Income protection taskforce arranges sales shortage summit

13 Feb 2012

Summit will take place on April 18 and all major IP providers will be invited.
Bright Grey launches enhanced simplified life and CI product

13 Feb 2012

Lifestyle plus offers TPD as standard.
PTFS chief exec Doug Crawford to join conveyancer

13 Feb 2012

Crawford will join My Home Move in April as its new chief executive.
Buy to let gets a boost

10 Feb 2012

Competition in the buy-to-let sector has pushed mortgage rates down at a time when residential rates have started to rise.
Andrew Jones confirmed as HML chief exec

10 Feb 2012

Jones had been doing job on interim basis for past three months.
10-Year fixes will stay niche despite rush for N&P loan

10 Feb 2012

Brokers believe 10-year fixed-rate mortgages will remain niche products despite strong demand for Norwich & Peterborough’s 3.99 per cent 10-year fix which has been withdrawn after strong demand.
Advisers want critical cover and IP

9 February 2012

Protection advisers have urged Scottish Widows to focus on developing new critical-illness and income protection products.
Principality lending hits £1bn but profits fall

9 February 2012

Principality Building Society lent £1bn to mortgage customers in 2011, up by 6.5 per cent on £934m in 2010, although profits fell sharply.
Reinsurer says certain death benefits are overlooked

7 Feb 2012

RGA warns advisers their customers could be missing out on benefits when claiming under life policies.
Advisers urge Scot Wids to focus on CI and IP innovation

7 Feb 2012

Advisers call on Scottish Widows to focus on CI and IP following re-entry into IFA protection space.
BM Solutions to cut B2L fixed rates by up to 0.3%

7 Feb 2012

Two-year products up to 75% LTV cut by 0.3%.
N&P forced to withdraw 3.99% 10-year fixed

6 Feb 2012

Lender says unprecedented demand has forced it to withdraw product.
Goldilocks and the forbears

3 Feb 2012

Paul Thomas reports that a combination of low interest rates and a change of attitude by lenders means borrowers are faring better than in previous recessions
Bank of Ireland looks to sell more UK mortgage portfolios

2 Feb 2012

Bank of Ireland is looking to offload two of its UK mortgage portfolios worth nearly £2bn, Money Marketing understands.
Ellipse moves into absence management

2 February 2012

Munich Re subsidiary Ellipse has moved into the group income protection market with a product that includes an absence management service designed to reduce long-term claim costs.
More QE could be needed

2 February 2012

The Bank of England monetary policy committee voted unanimously to keep its programme of quantitative easing at £275bn in January but some members felt it The minutes of January’s meeting show all nine members voted to keep bank rate at 0.5 per cent for the 34th consecutive month.
OFT probes Brain buying MortgageStream

2 February 2012

The Office of Fair Trading is to investigate whether Mortgage Brain’s acquisition of MortgageStream breaches UK competition laws.
Pet insurance more popular than critical illness cover

1 Feb 2012

12% of respondents said they have pet insurance, compared to 9% who had CI and 4% who had IP.
ABI: Protection products amongst hardest to understand

30 Jan 2012

PPI and critical illness rank lowest in terms of understanding.
Bright Grey pays out 91% of CI claims in H2 2011

30 Jan 2012

Average payout for critical illness claims was £82,000.
Three jailed in £18.5m fraud on Swiss bank

27 Jan 2012

The three were sentenced to combined total of over 13 years in prison.
Over 1,000 homes sold through FirstBuy

27 Jan 2012

The UK’s three biggest house builders have sold a total of 1,250 homes through the Government’s FirstBuy scheme in its first four months.
Woolwich adds plausibility check

27 Jan 2012

Woolwich has tightened its interest-only criteria by introducing a “plausibility” check to ensure a customer’s repayment plan will be able to repay the mortgage at the end of the term.
Pensioners' ties that bind

27 Jan 2012

Paul Thomas says there is widespread doubt that the Government can convince pensioners to move out of their homes and into rented property
FSA fines former Greenlight Capital compliance officer £130k

27 Jan 2012

Alexander Ten-Holter banned from performing compliance and oversight functions.
Call for providers to set out assisted suicide policy

27 Jan 2012

Protection advisers have called on life companies to clarify whether they will pay out in cases of assisted suicide.
Two-year fixes at a five-month high

26 Jan 2012

The average price of a two-year fixed-rate mortgage has reached its highest level since August at 4.27 per cent.
Virgin plans to double Northern Rock lending

26 Jan 2012

Virgin Money plans to double the value of mortgage lending that Northern Rock advanced.
Ageas Protect makes two senior appointments

25 Jan 2012

Scott Reid becomes head of pricing and reinsurance and Richard Halley becomes partnership manager.
N&P launches lowest ever 10-year fix at 3.99%

24 Jan 2012

Available up to 75% LTV with a fee of £295.
Santander set to launch £3bn securitisation

20 Jan 2012

Barclays set to launch £750m covered bond.
Barclays gives intermediaries access to underwriters

20 Jan 2012

Intermediaries given access to underwriters for residential mortgage applications.
Yorkshire BS extends B2L across England and Wales

20 Jan 2012

Lender launched buy-to-let offering in August, in London and South East only.
IMF cuts global growth forecast

20 Jan 2012

IMF cuts forecast for 2012 from 4% to 3.3%; UK economy to grow 0.6% in 2012.
Bright Grey in plea to renew ABI deal on GP records

20 Jan 2012

Bright Grey is calling on the ABI to try to resurrect an agreement with GPs for insurers to access medical records or risk falling service levels.
Surveyors value verdict

20 Jan 2012

A High Court judge’s decision in a contributory negligence case between GMAC-RFC and Countrywide Surveyors could ease pressure on a fragile surveying sector.
Cameron: 'Goodwin could be stripped of his title'

19 Jan 2012

David Cameron says former RBS chief could be stripped of his title.
Skipton opts to hold on to HML

19 Jan 2012

Skipton Building Society has taken its mortgage servicer subsidiary HML off the market.
UK facing £17.5bn bill to boost IMF firepower

19 Jan 2012

IMF looking to double resources to stabilise global economy and asked members for bigger contribution.
Leading Scottish surveyor firm ceases trading

18 Jan 2012

One of Scotland’s biggest firms of surveyors has ceased trading after directors took the decision to place the company into liquidation.
Govt to encourage pensioners to downsize to ease housing supply

17 Jan 2012

Shapps calls on councils to help pensioners downsize to free up housing stock for families.
S&P downgrades eurozone rescue fund

17 Jan 2012

Standard & Poor’s downgrades EFSF from AAA to AA+.
HML appoints Richard Hennah as sales director

16 Jan 2012

Hennah joins HML after nearly 12 years with KPMG.
Mortgage market returns to growth in November

16 Jan 2012

In November, market experiences only the second year-on-year increase of 2011.
Abbey to expand buy-to-let range

16 Jan 2012

Lender is also reducing rates on existing products by 0.2 per cent.
Just Retirement cuts lifetime mortgage by 0.1%

16 Jan 2012

Rate cut from 6.5% to 6.4% for new applications.
France and Austria set to lose AAA credit rating

13 Jan 2012

Germany, the Netherlands, Finland and Luxembourg to keep AAA rating.
Will the fast show go on?

13 Jan 2012

The mortgage industry is confident that some form of fast-track mortgages will survive the mortgage market review despite FSA proposals to ban them.
LV= relaxes protection underwriting

13 Jan 2012

Changes will result in more people getting immediate online decision.
Base rate held at 0.5% and no more QE

12 Jan 2012

MPC holds base rate at 0.5% for 34th consecutive month.
SimplyBiz hires Martin Reynolds as mortgages chief exec

12 Jan 2012

SimplyBiz hires Martin Reynolds as mortgages chief exec.
Which? wants non-advised ban widened

12 Jan 2012

Which? wants the FSA to extend its proposed non-advised mortgage sales ban to other product areas to deal with poor bank sales standards.
AXA PPP removes cancer cover limits

10 Jan 2012

Insurer also waiving monetary limits that may apply to cancer outpatient tests.
QE predicted to reach £500bn by the end of 2012

9 Jan 2012

Capital Economics says Bank of England could increase its QE programme by a further £75bn in February.
HSBC to launch conveyancer panel with Countrywide

6 Jan 2012

Countrywide is named panel manager.
2012: Another year of mortgage uncertainty

6 Jan 2012

Paul Thomas says advisers face a difficult year if, as economists predict, the eurozone crisis takes its toll on the housing market.
MMR may sound death knell for packagers

6 Jan 2012

AMI has warned the mortgage market review will be the death knell for mortgage packagers unless they radically restructure operations.
IFAs urged to beware of unnecessary trust tax charges

5 Jan 2012

Asset Protection Strategy says charges are potentially very punitive for customers.
Choices on affordability

5 January 2012

Lenders could have to assess affordability for interest-only loans on a capital and interest basis unless the borrower has a “clearly understood and believable” way to repay the mortgage.
Cost could be £170m a year

5 January 2012

The total one-off cost of implementing the MMR will be between £40 and £65m.
FSA sets out ban for non-advised sales

5 January 2012

Most non-advised mortgage sales are set to be banned where there is a “spoken or other interactive dialogue” between a customer and a firm.
IDD to be scrapped

5 January 2012

The initial disclosure document is to be replaced with a requirement to disclose key information about a firm’s service in the first client meeting.
Lenders may opt for direct route

5 January 2012

The FSA predicts lenders will be incentivised to use direct-only distribution channels following implementation of the mortgage market review.
Virgin Money to sponsor Newcastle United

4 Jan 2012

Virgin to assume shirt sponsorship from Northern rock for remainder of season and following two seasons.
Prestwood MD Philip Congrave to retire

4 Jan 2012

Congrave joined firm in 1986 and will retire later this month.
Leeds BS launches shared ownership loan through PMS and Sesame

20 Dec 2011

Mortgage is fixed at 5.89% for two years.
Eurozone ministers agree to pledge £125bn to IMF

20 Dec 2011

UK refused to commit to contributing, saying it will “define its contribution” in early 2012.
Prudential chairman Harvey McGrath to retire

20 Dec 2011

McGrath to retire next year when a successor has been found.
FSA to ban non-advised mortgage sales

19 Dec 2011

However, borrowers can reject advice after it has been given.
FSA to tighten up interest-only rules and ban self-cert

19 Dec 2011

Regulator not forming prescriptive proposals for self-employed borrowers.
FSA will not limit advisers' role in checking affordability

19 Dec 2011

Intermediaries to have “general requirement” to check if borrowers fit lenders’ criteria.
IDD scrapped alongside plans to use 'independent' and 'restricted' labels

19 Dec 2011

Regulator rules out using RDR labels to describe firms’ service.
MMR to cost industry up to £170m a year

19 Dec 2011

Total one-off cost of proposals £40m-£65m and £47m-£170m a year.
Trade bodies welcome "sensible" MMR proposals

19 Dec 2011

Trade bodies praise more “balanced” rules.
Brokers' fears at repo rise

16 Dec 2011

Brokers fear repossessions could continue to rise and warn borrowers stuck on standard variable rates are most at risk.
European quality kitemark for securitisation

16 Dec 2011

European securitisation bodies are launching a new kite-mark system for high-quality asset-backed securities in a bid to boost confidence.
Lenders set to cut higher LTVs over euro crisis

16 Dec 2011

Brokers are warning that lenders could withdraw their higher-loan-to-value mortgages if the eurozone crisis worsens.
Fitch downgrades six global banks

16 Dec 2011

Barclays is the only UK bank of the six.
Ageas to retrospectively increase CI payments

15 Dec 2011

Ageas Protect to contact customers to tell them terms and conditions have improved.
Pacific Life Re hires new head of protection marketing

15 Dec 2011

James Tait was formerly head of pricing and reinsurance at Ageas Protect.
CML downgrades 2012 lending forecast by £17bn

15 Dec 2011

Trade body also downgrades 2011 gross lending estimate.
BIS investigates criminal allegations against Goodwin

15 Dec 2011

BIS investigating alleged breaches in accountancy laws.
Cornell joining FSA an analyst

15 December 2011
FSA admits RDR focus had role in RBS debacle

15 December 2011

The FSA has admitted that it played a big role in Royal Bank of Scotland’s near demise in October 2008 and gave too much attention to the RDR and treating customers fairly at the expense of supervising banks.
Turner calls for new powers to penalise execs

15 December 2011

FSA chairman Adair Turner has called for new powers to penalise individual bank directors for making the sort of risky decisions that led to the near collapse of Royal Bank of Scotland.
Co-op front runner for Lloyds branches

14 Dec 2011

Lloyds Banking Group is hoping to agree terms by Q1, 2012.
Lloyds chief exec to return in January

14 Dec 2011

Antonio Horta-Osorio is due to return to work on January 9 following a stress-related illness.
Proportion of FTBs buying without financial assistance dives

14 Dec 2011

Proportion of FTBs buying without support from family falls from 63% to 36% in four years.
BoE chief economist: Inflation will fall to 3% by March

14 Dec 2011

Dale defends BoE’s monetary policy, saying vital in order to stave off recession.
FSA says banks must display saver guarantee

14 Dec 2011

FSA proposes to make banks and building societies to display details of FSCS scheme.
FSA data shows repossessions on the rise

13 Dec 2011

FSA says new advances grew 19% between Q2 and Q3 to £44bn.
Furness BS launches five-year fix through PMS and Sesame

13 Dec 2011

Mortgage available up to 75% LTV at 3.85%.
Leeds BS appoints Robin Litten as finance director

13 Dec 2011

Litten joins in January.
Former UBS trader fighting £1.25m FSA fine

13 Dec 2011

FSA says Sachin Karpe took part in alleged unauthorised trades.
Standard Chartered: UK economy to shrink 1.3% in 2012

13 Dec 2011

Standard Chartered predicts eurozone economy will shrink by 1.5 %.
FSA: Our focus on RDR and TCF meant bank failings were missed

12 Dec 2011

FSA says focus on RDR and TCF meant prudential supervision sometimes “accorded low priority”.
Cable investigates possible action against RBS directors

12 Dec 2011

Cable examining whether any action can be taken against former RBS directors.
Abbey enters buy-to-let market

12 Dec 2011

Lender targeting non-professional landlords.
Coalition split over European treaty veto

12 Dec 2011

Deputy PM says he is “bitterly disappointed” by the veto.
Euro shock waves may stun UK mortgages

9 Dec 2011

John Charcol senior technical manager Ray Boulger has warned there will be horrendous consequences for the UK mortgage market in 2012 if the eurozone implodes.
Move to open up Ship membership could lead to innovation

9 Dec 2011

Equity-release advisers believe trade body Safe Home Income Plan’s decision to open up its membership to intermediaries will lead to more product innovation in the sector.
Lloyds chief faces tough scrutiny before he can return

9 Dec 2011

LBG to announce successful bidder of 632 branches for sale next week.
EquityCare wants small drawdown for home care

9 Dec 2011

Equity-release specialists have called on providers to develop products for the home care market which allow customers to draw down smaller amounts.
Halfway house

9 Dec 2011

Government plans for housing are welcome but will they go far enough? Paul Thomas reports
Insurers use data loophole to cut medical record costs

9 Dec 2011

Broker says insurers are using a data protection loophole to get full medical records at reduced prices.
Aviva launches new investments and insurance TV campaign

8 Dec 2011

Aviva has started a TV programme sponsorship campaign to raise awareness about investment and insurance products.
Aviva overhauls large case underwriting process

6 Dec 2011

Advisers allowed to provide information over phone for life cases to £3m and critical illness to £750k.
House prices down 1% year-on-year in November

6 Dec 2011

Average house price now £161,731.
Govt to close stamp duty loophole

6 Dec 2011

Loophole allows people to avoid stamp duty by setting up offshore companies.
Keydata casualty bought out of admin- up to £6m costs stay with FSCS

6 Dec 2011

Million Plus managing director Mike Cleary is former TFM managing director.
Aviva Downton Abbey campaign in breach of Ofcom rules

5 Dec 2011

Ofcom says Aviva sponsorship of Downton Abbey strays into advertising.
Towergate Financial appoints new chief operating officer

5 Dec 2011

Warren Page joins from Origen Financial Services.
BTL entrants warned to watch out for credit risks

2 Dec 2011

Paragon Group mortgage chief has warned new BTL lenders they could expose themselves to greater risk if they underwrite BTL loans in the same way as owner-occupier mortgages.
Assureweb launches protection iPhone app

1 Dec 2011

App allows advisers to compare real-time rates for term assurance products.
AS 2011: End of stamp duty holiday adds a barrier for FTBs

1 Dec 2011

Mortgage experts are disappointed the Government is not extending the stamp duty holiday for first-time buyers, saying it will delay some people buying a property.
AS 2011: Govt will struggle with housing discount deal, says Boulger

1 Dec 2011

Boulger questions how the Government can stick by its promise to build a new affordable house for every property sold to a social tenant.
Ship opens up membership to intermediaries

1 Dec 2011

Trade body set up committee to look at expanding membership in June.
£6M in Keydata claims put IFA firm on brink

1 December 2011

Bath IFA firm Target Financial Management is on the brink of collapse after the Financial Services Compensation Scheme pursued it for £6m worth of Keydata claims.
AS 2011: Government says maximum liability for newbuild homes scheme will be £1bn

1 December 2011

The Government has revealed that its maximum liability for the recently announced mortgage indemnity scheme will be no more than £1bn.
Clydesdale and Yorkshire set up second securitisation

1 December 2011

Clydesdale and Yorkshire Banks have launched their second securitisation in as many months.
Life settlement trade body backs FSA's concerns

30 Nov 2011

Earlier this week, FSA warned products were high risk, toxic products.
AS 2011: Govt to offer social tenants 50% discount on right to buy

29 Nov 2011

Chancellor said previous Government had “strangled” right to buy scheme.
Mutuals' gross lending up 15% year-on-year

29 Nov 2011

Lending up from £16.6bn in first 10 months of 2010, compared to £19.1bn in 2011.
House prices down 3.2% year-on-year in October

28 Nov 2011

Prices fell 0.9% between September and October, according to the Land Registry.
IFA firm to enter administration following £6m Keydata claims

28 Nov 2011

Financial planning firm Target Financial Management to enter administration as a result of £6m of claims relating to Keydata.
Brokers calling for Virgin One relaunch

25 Nov 2011

Brokers have called on Virgin Money to relaunch its Virgin One account when it completes its £747m deal to acquire Northern Rock in the New Year.
Concern that builders could inflate their newbuild prices

25 Nov 2011

Mortgage experts fear housebuilders could artificially inflate the price of newbuild properties to prevent losses from Mig scheme.
The challenges facing the Government's mortgage indemnity scheme

25 Nov 2011

The Government’s mortgage indemnity scheme could fail unless lenders are given capital relief when lending at higher loan-to-value ratios.
Is Virgin Money ready to challenge the big mortgage lenders?

25 Nov 2011

Virgin Money’s buyout of Northern Rock could have big implications for the sector.
Clydesdale and Yorkshire launch second RMBS in two months

24 Nov 2011

Notes backed by prime UK residential mortgages.
Sesame: Advisers are selling services too cheaply

24 Nov 2011

Chief executive George Higginson says some advisers are selling their advice too cheaply and will be forced to increase their fees to cover their costs after RDR.
Higginson: Financial services must speak with one voice

24 Nov 2011

Sesame Bankhall Group chief executive George Higginson has warned the financial services sector it must speak with one voice to avoid regulatory intervention.
Which? rolls out "free" mortgage advice to general public

24 Nov 2011

Consumer champion aims to become one of the biggest mortgage advice firms in the UK.
'BTL not crowding out FTBs'

24 November 2011

Nationwide group distribution director Matthew Wyles has dismissed claims that increased buy-to-let activity is edging first-time buyers out of the owner-occupier market.
CML says quality won't be in danger

24 November 2011

The Council of Mortgage Lenders says the mortgage indemnity scheme will not compromise the quality of lenders’ mortgage books.
Cost of protection to rise

24 November 2011

Protection providers have warned that new regulation such as Solvency II and gender-neutral pricing will significantly raise the cost of protection policies from 2013.
Criteria to tighten if MMR stays unclear

24 November 2011

Lenders could tighten their criteria even further if the regulator does not provide further clarity on the mortgage market review’s new rules.
Demand for advice will outstrip supply

24 November 2011

Ernst & Young global insurance leader Shaun Crawford says there will not be enough financial advisers to meet consumer demand within the next three years.
Demand for interest-only products stays strong

24 November 2011

Precise Mortgages managing director Alan Cleary says 11 per cent of new business the firm writes is on an interest-only repayment basis, proving there is a market for these products.
Mortgage sector to pick up next year as loans revert to SVR

24 November 2011

The mortgage market could get a boost next year when £25bn of mortgages revert to a standard variable rate, according to Lloyds Banking Group.
Rates may rise under savings-lending link

24 November 2011

The FSA’s push for lenders to fund more of their mortgage lending through retail savings deposits could force mortgage prices up.
Regulator warns against inappropriate bridging

24 November 2011

Mortgage Business Expo
Roberts to be Lloyds interim chief exec if Horta-Osorio is away longer than expected

24 November 2011

Lloyds Banking Group says David Roberts will take on the role of interim chief executive if the return of group chief executive Antonio Horta-Osorio takes longer than expected.
Castle Trust receives CII accreditation for mortgage training

21 Nov 2011

Training programme counts towards CPD for mortgage advisers.
Lloyds announces Horta-Osorio contingency plan

21 Nov 2011

David Roberts will assume interim chief exec if Horta-Osorio’s return is delayed.
Nationwide: 'BTL not edging out FTBs'

18 Nov 2011

Nationwide’s Matthew Wyles says criteria and deposit holding back FTBs.
Investec to publicly place £204m in RMBS

18 Nov 2011

Kensington Mortgages’ parent company Investec is looking to publicly place all of its £204m residential mortgage-backed securitisation, Money Marketing understands.
UK RMBSs doing well but eurozone crisis may take its toll

18 Nov 2011

UK RMBSs have held up well compared with US issues but the eurozone crisis means confidence in the market could be on the wane. Paul Thomas reports
Bank rate may stay at 0.5% until 2014

17 November 2011

John Charcol senior technical manager Ray Boulger says bank rate could remain at 0.5 per cent until 2014, following the Bank of England’s decision to hold it at that for the 32nd consecutive month.
Restricted members may be forced to use Sesame Iress system

17 November 2011

Sesame is set to mandate its new Iress wealth management software for any network members offering restricted advice.
Eurozone crisis is not a repeat of 2007, says Imla

11 Nov 2011

Intermediary Mortgage Lenders Association directors say the eurozone crisis is very different to the credit crisis of 2007 and should not lead to a similar contraction in mortgage lending.
'We need a joined-up agenda on housing policy'

11 Nov 2011

The Intermediary Mortgage Lenders Association says the lack of a joined-up approach on housing policy between Government departments and the FSA must be addressed.
Northern Rock says 95% LTV mortgages are a specialist market

11 Nov 2011

The first-time buyer higher loan-to-value market should be considered a niche area, according to Northern Rock head of intermediary sales Richard Tugwell.
'Euro edict is costly without benefits'

11 Nov 2011

The European Commission’s mortgage credit directive will see no benefit to the UK mortgage market but will mean customers pay more for their mortgages, warns Imla.
Williams says MMR does not address the changed world

11 Nov 2011

The world has moved on since the FSA started its mortgage market review and the proposals may not meet the needs of today’s market, according to Imla executive director Peter Williams.
Call to end "myth" over role of securitisation in crisis

11 Nov 2011

The “mythology” that the Government and regulators have allowed to develop came under attack at last week’s Imla executive briefing
Structural problems

11 Nov 2011

A dearth of surveyors and more use of automatic valuations could hit loans, reports Paul Thomas
BoI borrowers urged to look for new deal

11 Nov 2011

Brokers are urging 14,000 BoI customers affected by sale of its £1.1bn loanbook to look to remortgage with a different lender.
No boom for BTL

11 Nov 2011

The buy-to-let sector is not set for a boom despite huge demand for private rented accommodation, according to Imla chairman and Paragon Mortgages managing director John Heron.
Golden chance to show value of loan advice

11 Nov 2011

Intermediary lenders feel now is the perfect time for advisers to push the value of mortgage advice.
Ward says new lenders will need scale to get off to start

11 Nov 2011

Home Funding chief executive Tony Ward says new lenders will not be able to enter the mortgage market unless there have considerable scale.
PFS announces annual chartered award winners

11 Nov 2011

Duncan Parkes wins chartered financial planner of the year.
John Cowan: Expect overwhelming shift to restricted advice

11 Nov 2011

IFA firms will move “overwhelmingly” towards restricted advice within three years of the implementation of RDR, according to an independent consultant
SimplyBiz hits out at FSA over legacy clarity

11 Nov 2011

SimplyBiz joint managing director Neil Stevens says it is “unacceptable” that the FSA has not yet clarified how it will treat legacy commission after the RDR.
Bank holds base rate at 0.5% and QE programme at £275bn

10 Nov 2011

Bank of England holds base rate at 0.5% and does not add to its quantitative easing programme.
FSA consults on giving accredited body status to ICAEW and PMI

10 Nov 2011

FSA consulting on granting ICAEW and PMI accredited body status.
Barclays sets up first RMBS since 2007

10 Nov 2011

Barclays Bank is to launch its first residential mortgage-backed securitisation since May 2007.
Darby returns to John Charcol as non-exec chair

10 November 2011

Towergate Financial chief executive Ian Darby has stepped down after three years in the role to return to John Charcol as a non-executive chairman.
Lloyds faces downgrade after chief exec steps back

9 Nov 2011

Antonio Horta-Osorio stepped back last week due to stress but is expected back before Christmas.
Sesame appoints George Higginson as chief exec

8 Nov 2011

Higginson promoted from chief operating officer to chief executive.
Aegon to close DB scheme to future accruals

8 Nov 2011

Firm also to end link to final salary.
House sales edge up in October

8 Nov 2011

Surveyors say new enquiries and completed sales rose in October.
Bank of England governance must be strengthened, say MPs

8 Nov 2011

Andrew Tyrie says Bank of England governance “antiquated”.
House prices fall 1.8% year-on-year in October

7 Nov 2011

Average house price is now £163,311.
Co-op to submit second round bid for Lloyds branches

7 Nov 2011

Bid likely to be submitted next week.
Ian Darby steps down as Towergate chief

4 Nov 2011

Darby replaced by Dan Saulter.
Funding drought goes on as RMBS issues held back

4 Nov 2011

RMBS issues are not translating into increased mortgage lending as banks are retaining a significant proportion of the funding.
Is Grant Shapps out of touch?

4 Nov 2011

Mortgage experts ask if the housing minister is out of touch with the mortgage market.
Coventry: Societies' loan share will fall as banks stabilise

4 Nov 2011

Coventry Building Society says mutuals’ increasing share of the mortgage market is likely to stall as banks’ access to wholesale funding improves.
Eurozone chaos will cut mortgage cash

3 Nov 2011

Continued trouble in the eurozone will lead banks to reduce their balance sheet assets to increase capital reserves, which will result in reduced lending, according to Home Funding chief executive Tony Ward.
Appeal to see who will get Lehman cash

3 November 2011

The Supreme Court is this week hearing an appeal that will determine which clients of Lehman Brothers’ insolvent UK subsidiary will have access to $2bn-worth of ringfenced funds.
Lloyds £2.1bn prime RMBS gets AAA rating

3 November 2011

Lloyds Banking Group is launching a £2.1bn securitisation backed by prime residential mortgages.
Top duo quit at HML

3 November 2011

HML chief executive Brian Brodie and chief commercial and finance officer Neil Warman have quit.
Tony Ward: The art of deleveraging

2 Nov 2011

Tony Ward says banks will have to further deleverage their balance sheets to weather the financial storm ahead.
Paragon to launch £150m securitisation

2 Nov 2011

Pricing expected to be 275 basis points over three-month Libor.
Capital Economics: 'Debt crisis will lead to demise of euro'

1 Nov 2011

Capital Economics says eurozone headed for recession and break up of single currency.
Saffron BS appoints Jon Hall as new chief exec

1 Nov 2011

Hall replaces Andy Golding.
House prices up 0.4% in October

1 Nov 2011

Average price now 0.8% higher than a year ago at £165,650.
Nationwide revamps new-build valuation policy

31 Oct 2011

Lender will now include new-build premium in valuations.
TMA increases proc fees

31 Oct 2011

Proc fees for Northern Rock and Halifax mortgage products increase by 0.1%.
Bridging lenders seek exemption

28 Oct 2011

The Association of Short Term Lenders is seeking a total exemption for bridging lenders from the European Commission’s mortgage credit directive.
Experts warn mortgage market is on the verge of another crunch

28 Oct 2011

Mortgage experts warn the UK could be on the brink of another credit crunch if the spread between Libor and base rate continues to increase.
HMRC chasing £35m in stamp duty avoidance

28 Oct 2011

HMRC identified 1,200 people using stamp duty avoidance schemes costing Exchequer £35m a year.
FTSE blog: FTSE falls by 0.2%

28 Oct 2011

FTSE falls after early gains.
House prices down 2.6% year-on-year in September

28 Oct 2011

Prices fall 0.3% between August and September.
Bridge of highs

28 Oct 2011

The bridging loan market is enjoying a boom due to stunted lending in the mainstream mortgage market but experts predict business levels will ebb as the mortgage sector recovers.
Equity-release advances hit £200m for quarter

27 October 2011

New equity-release advances grew by 12 per cent between the second and third quarters of 2011, according to trade body Safe Home Income Plans.
Revolution for self-build

27 October 2011

Housing minister Grant Shapps wants to knock down the barriers that make it difficult for people to build their home as part of a self-build “revolution”.
Shapps in call for long-term fixed rates

27 October 2011

Housing minister Grant Shapps has called on lenders to offer longer-term fixed rate mortgages of up to 30 years.
Stamp duty slabs to stay

27 October 2011

The Government has no plans to reform stamp duty in the near future.
Lloyds to launch £2.1bn securitisation

26 Oct 2011

Fitch assigns AAA rating to transaction.
Precise increases maximum LTV to 85%

26 Oct 2011

Lender previously lent up to 80% LTV.
Countrywide hires former Colleys surveying head

25 Oct 2011

Chapman to take up newly created role of head of field operations within surveying division.
Nationwide to cut five-year fixed to 3.59%

25 Oct 2011

Lender also making a number of reductions to 85% LTV range.
Coventry launches new residential and B2L deals

25 Oct 2011

New range includes fixed, tracker and capped products.
BoE's Haldane: Basel III does not go far enough

25 Oct 2011

MPC’s Martin Weale says British economy may already be contracting.
OFT refers audit market to Competition Commission

21 Oct 2011

OFT concerned market is “highly concentrated” and substantial barriers to entry.
Euro chaos sets back UK mortgage recovery

21 Oct 2011

Mortgage experts believe the eurozone crisis has pushed back a recovery in the UK mortgage market by up to three years.
SVRs are on the rise

21 Oct 2011

Brokers are warning that lenders will increase their standard variable rates as the cost of mortgage funding rises.
Don't bank on QE lifeline for mortgages

21 Oct 2011

Experts agree the signs are not good that a second round of quantitative easing can throw the ailing mortgage market a lifeline.
Shapps: Govt has no plans to reform stamp duty

20 Oct 2011

Shapps asked if Govt has plans to reform “slab” structure of stamp duty.
Chelsea deal stirs up offset competition

20 October 2011

Chelsea Building Society has entered the offset mortgage market by offering new borrowers offset options across its standard mortgage range.
Loan prices to rise as Fitch cuts Lloyds and RBS ratings

20 October 2011

Fitch Ratings has downgraded Lloyds Banking Group and Royal Bank of Scotland from AAto A due to a perceived reduction in Government support for systemically important banks.
Rating companies turn to Spanish banks to cut grades

20 October 2011

Rating agencies Standard & Poor’s and Fitch Ratings have downgraded a raft of Spanish banks, including Santander and BBVA’s Spanish operations, following deterioration in the Spanish economy.
Coventry BS issues €650m covered bond

19 Oct 2011

Building society issues €650m covered bond.
EC raids banks in interbank lending rates probe

19 Oct 2011

EU says banks may have broken antitrust rules.
UK prime RMBS performance stable in August

19 Oct 2011

90+ arrears rate up slightly to 1.9% from 1.8%.
IMA calls for FCA to publish views of dissenting board members

19 Oct 2011

Chief executive Richard Saunders says move would increase accountability.
Equity release advances up 12% in Q3

18 Oct 2011

Intermediaries account for 88% of all equity release sales.
Brokers slam Woolwich for cutting mortgage porting period

14 Oct 2011

Brokers have accused Woolwich of forcing people off cheap tracker deals.
House prices down 2.3% year-on-year in September

14 Oct 2011

Average price now £218,650.
Mansion mission

14 Oct 2011

Paul Thomas gauges response to moves to exempt loans of over €2m from the EC’s loan directive
Openwork appoints chief financial officer

13 Oct 2011

Simon Clifford takes over as chief financial officer.
Pritchard to set up bridging lender firm

13 Oct 2011

Former Edeus director of packaging Terry Pritchard is setting up a new bridging lender.
EU directive changes could exempt BTL loans

13 October 2011

The Council of Mortgage Lenders says amendments being added to the European Commission’s mortgage directive could exempt buy-to-let loans.
FSA looks to axe causation for IFAs to pay 100% redress

13 October 2011

The FSA is looking to force financial services firms found to have given poor advice to provide 100 per cent redress to customers who have suffered losses, even if the loss was not directly caused by the advice, says law firm Reynolds Porter Chamberlain.
Gilt option could help mortgages

13 October 2011

The latest round of quantitative easing could make long-term fixed-rate mortgages cheaper if the Bank of England concentrates on buying long-term gilts, according to John Charcol.
Moneygate in talks to buy 22 businesses

13 October 2011

Moneygate says it is in advanced acquisition talks with 22 IFA firms and has set aside £1.4m for buyouts, as it posts a loss of £1.3m.
Moody's lowers 12 UK credit ratings

13 October 2011

Rating agency Moody’s has downgraded the senior debt and deposit ratings of 12 UK banks and building societies.
PTFS sets up multi-tie protection panel

13 October 2011

Personal Touch Financial Services is setting up a multi-tie protection panel in addition to its whole of market offering.
Rate held for 31st month as easing is rebooted

13 October 2011

The Bank of England’s monetary policy Committee voted last week to keep bank rate at 0.5 per cent for the 31st consecutive month and restart quantitative easing with a £75bn injection.
RBS to launch £3.5bn securitisation

11 Oct 2011

Royal Bank of Scotland is to launch a £3.5bn RMBS.
Remortgage activity up 30% year-on-year in August

11 Oct 2011

First-time buyer loans up 5% year-on-year.
Saffron BS chief exec to leave for One Savings Bank

10 Oct 2011

Andy Golding leaving on December 31.
TMW launches buy-to-let affordability app

10 Oct 2011

App developed for Android and Blackberry smart phones.
Moneygate in talks with 22 IFA firms

10 Oct 2011

Group reported £1.3m pre-tax loss in 2010.
Clydesdale Bank launches £829m buy-to-let RMBS

10 Oct 2011

Pool of loans made up of Clydesdale Bank buy-to-let mortgages.
Return to fixes as Libor rise hits trackers

7 Oct 2011

Borrowers to swing back to fixed-rate mortgages as the eurozone crisis hits the price of trackers.
BoE increases QE by £75bn

6 Oct 2011

QE increased by £75bn to £275bn.
Nationwide setting up RMBS deal from trust

6 Oct 2011

Nationwide Building Society is introducing a prime residential mortgage-backed securitisation from its Silverstone Master Trust funding vehicle.
Director is banned and fined £100k for false applications

6 October 2011

The regulator has banned and fined Ambergate Business Services director Raymond Wagner £100,000 for knowingly submitting fraudulent mortgage applications.
1.3% Of complaints about advisers, 69% about banks

6 October 2011

The FSA’s complaint data shows intermediaries accounted for just 1.3 per cent of complaints in the first half of 2011.
Large mortgages set to be excluded from new Euro rules

5 Oct 2011

A committee scrutinising the European Commission’s mortgage credit directive has proposed an exemption for mortgages over €2m.
Law firm warns new rules will increase advice liability

5 Oct 2011

The FSA is seeking to force financial services firms to provide 100 per cent redress to customers who have suffered losses.
Stonebridge launches multi-tie life and protection panel

4 Oct 2011

Panel will offer products from 5 providers.
Leeds BS launches two-year fixed at 1.99%

4 Oct 2011

Product available to 75% LTV and there is a £1,999 fee.
More QE could push inflation to 6%

4 Oct 2011

LSL Property Services says inflation could rise to 6% if BoE introduces more QE.
FTSE blog: FTSE closes up 2.89%

Online - October 2011

Markets continue to jump on eurozone deal.
FTSE blog: FTSE makes small gains as EU leaders gather in Brussels

Online - October 2011

FTSE up 0.5 per cent.
Euro fears to push up mortgage rates

30 Sep 2011

Worsening eurozone conditions could increase the cost of borrowing for banks and see lenders raise the price of variable rate mortgages.
FSA fines and bans broker over mortgage fraud

30 Sep 2011

Raymond Wagner taken decision to tribunal.
David Child replaces Tom Baigrie as Lifesearch MD

30 Sep 2011

Baigrie becomes chief executive.
House prices rise 0.1% in September

29 Sep 2011

Average price now £166,256.
Ex-Standard Life employee admits £20k embezzlement

29 Sep 2011

Man charged with embezzling £20k.
House prices fall 2.6% year-on-year in August

28 Sep 2011

Average price in England and Wales now £162,347.
Boards must resist rewarding failure, says ABI

28 Sep 2011

ABI issues new guidance on boardroom executive pay and effective governance.
Intermediary complaints up 19%

28 Sep 2011

Complaints about intermediaries rose from 20,713 in H2, 2010 to 24,458 in H1, 2011.
End of stamp duty unlikely to boost transactions

27 Sep 2011

Transaction boost towards end of holiday unlikely because relief only applies to FTBs.
Mansfield BS appoints Gev Lynott as new chief exec

27 Sep 2011

Lynott replaces Nigel Quinton, who has left to become Furness BS chief executive.
S&P under threat of legal action over bond ratings

27 Sep 2011

Securities and Exchange Commission investigating S&P’s role in financial crisis.
Europe looks to curb power of big four audit firms

27 Sep 2011

Draft proposals will force audit firms to abandon consultancy and share work with smaller rivals.
Skipton BS launches 95% LTV new-build mortgage

26 Sep 2011

Mortgage is fixed for two years at 5.99%.
Dunstan Thomas appoints David Child as non-exec chairman

26 Sep 2011

Child joined Baigrie Davies Lifesearch as non-exec chairman in February.
Pink relaunches its mortgage club

26 Sep 2011

The Pink Club promises 24-hour proc fee payment.
Labour: Slash VAT to 5% for home improvements

26 Sep 2011

Shadow Chancellor Ed Balls concedes Labour did not regulate banks adequately when in power.
Relative assets

16 Sep 2011

Aldermore is offering 100 per cent LTV mortgages to borrowers who have family members willing to act as guarantor. Paul Thomas weighs up the pros and cons
MM profile: Paul Smee

15 September 2011

The director general of the CML is ready to grapple with the FSA’s mortgage market review, the European loan directive and the property market.
30Th month for bank rate held at 0.5%

15 September 2011

The Bank of England’s monetary policy committee voted again last week to keep bank rate at 0.5 per cent for the 30th consecutive month.
FSA fines Swift £600k for TCF failings over arrears

15 September 2011

The FSA has fined Essex sub-prime mortgage lender Swift 1st Limited £630,000 for treating some customers facing mortgage arrears unfairly.
CML: Ringfencing should not hit mortgage lending or add costs

9 Sep 2011

CML’s Smee says lenders’ ability to access wholesale markets will decide mortgage costs and lending levels.
Brokers may lose more market share to the banks

9 Sep 2011

Precise Mortgages managing director Alan Cleary says mortgage brokers’ market share will continue to fall in the next 12 months as banks spend millions of pounds on advertising to lure direct customers.
Barking about ringfence bite

9 Sep 2011

Ringfencing the retail operations of the UK’s biggest banks could make mortgages more expensive but brokers feel firewalls should be in place.On September 12, the Independent Commission on Banking, led by Sir John Vickers, is expected to recommend that banks should ringfence their retail arms.The proposal has the support of the Govern-ment, with Chancellor George Osborne endorsing the plan, albeit over a more drawn-out timescale than Business Secretary Vince ...
No change to base rate or QE

8 Sep 2011

Base rate held at 0.5% for 30 consecutive months.
Abbey to launch new offset and five-year fix

8 Sep 2011

Offset available at base plus 2.45% while five-year fix available at 3.99%.
Darling reveals King row hit crisis response

8 September 2011

Former Chancellor Alistair Darling has attacked the Bank of England’s understanding of the banking crisis and is calling for an overhaul of its governance structure.
House prices fall 1.2% in August

7 Sep 2011

Average price now £161,743.
US banks offered deal over mortgage bond lawsuits

6 Sep 2011

Sources tell the Financial Times state prosecutors effective releasing banks from legal liability.
More QE in February, says Capital Economics

5 Sep 2011

CE echoes previous prediction that base rate will remain on hold until mid-2013.
Broker homeloans rise as direct deals dive

2 Sep 2011

The number of mortgage products available to intermediaries has jumped by 35 per cent since January.
Cambridge BS launches large loan mortgage up to £2m

2 Sep 2011

Lender allows borrowers to take up to £750k on an interest-only basis.
Accord cuts up to 0.45% off 85% LTV fixed rates

2 Sep 2011

Lender also cuts up to 0.25% off 75% LTV fixed rates.
Credit check

2 Sep 2011

Some brokers say the CreditExpert scheme, which discloses to an applicant why their mortgage claim was rejected, is of limited use.
Fitch upgrades HML's special servicer rating

1 Sep 2011

Ratings agency also affirms primary servicer rating.
House prices fall 0.6% in August

1 Sep 2011

Average house price now £165,914.
Quarter of firms to cut pension spend to pay for auto-enrolment

1 Sep 2011

ACA warns 27% of employers likely to offset the cost of auto-enrolment by reducing their pension expenditure.
Lenders join with HMRC to tackle fraud

1 September 2011

HM Revenue & Customs, the Council of Mortgage Lenders and the Building Societies Association have teamed up to create a tool to combat mortgage application fraud.The mortgage verification scheme, which was announced in the March Budget, is due to launch on September 1 following a successful pilot scheme.Use of the scheme will be limited to cases where lenders suspect fraud following their own checks.Lenders will send the details to HMRC, which ...
CBI's Cridland says ringfencing now is 'barking mad'

1 September 2011

Confederation of British Industry director general John Cridland says the Government would be “barking mad” to push forward with plans to ringfence UK banks, given the current economic conditions.He told the Financial Times this week it would be wrong to implement Sir John Vickers’ expected proposals to separate the retail and investment arms of banks in the midst of the European debt crisis.He said: “Taking action at this moment of growth peril, which weakens ...
Chelsea offers direct-only 10-year fixed-rate deal at 3.99%

1 September 2011

Chelsea Building Society has launched a direct-only, 10-year fixed-rate mortgage at 3.99 per cent.
FSA bans mortgage broker over fraud and deception

1 September 2011

The FSA has banned a mortgage broker after she was found guilty of 13 counts of financial crime, including fraud and obtaining money by deception.
Nationwide to reduce five-year fixes by 0.1%

31 Aug 2011

From tomorrow lender will offer five-year fix at 3.69% up to 70% LTV.
Principality launches family assisted 95% LTV mortgage

31 Aug 2011

Borrowers can use family member’s savings to boost deposit.
FSA data shows fall in proportion of advised mortgage sales

31 Aug 2011

The FSA says intermediated sales fell from 51% in 2009/10 to 47% in 2010/11.
Mattioli Woods acquires Kudos for £8.7m

30 Aug 2011

Management team at Kudos Independent Financial Services to be retained.
Mortgage verification scheme launched to tackle fraud

30 Aug 2011

HMRC, CML and BSA team up to combat mortgage fraud.
Aldermore increase BTL maximum loan size

30 Aug 2011

Maximum loan size now £1m up to 65% LTV.
Buying now £100 cheaper than renting

30 Aug 2011

Buying costs FTB £567 a month compared to £677 for renting.
House prices down 2.1% year-on-year in July

26 Aug 2011

Number of completed house sales down 10% between May 2010 and May 2011.
Borrowers shun longer-term fixed-rate mortgages

26 Aug 2011

Despite the growing popularity of five-year fixed-rate products, the number of 10-year fixed rates on the market fell by two-thirds last year due to a lack of demand from borrowers.Figures from Moneyfacts.co.uk show that in August 2010, there were 31 10-year fixed-rate products on offer compared with just 11 last week.Over the same period, the average rate of 10-year fixed-rate products fell from 5.81 per cent to 5.4 per cent.London & Country head of ...
CML will stick with lending forecast of £140bn

26 Aug 2011

The CML says it has no plans to revise its 2011 gross lending estimate of £140bn despite the current eurozone debt crisis.
Chelsea BS launches 10-year fix at 3.99%

26 Aug 2011

CBS also reduces lowest ever 5-year fixed from 3.39% to 3.29%.
Platform lends £250m in first half of 2011

25 Aug 2011

Parent Co-op Financial Services reports profits of £130.5m in H1.
High cost of Europe plan for national mortgage registers

25 Aug 2011

CML and BSA warn a European Union proposal to record the details of all mortgages in national registers would be expensive and unnecessary.
National IFA firm PFP launches new corporate advice service

25 Aug 2011

National IFA firm Premier Financial Protection has set up a corporate advice service to help firms prepare for auto-enrolment.
Lloyds keeps lending top spot

25 August 2011

Lloyds Banking Group retained its position as the biggest mortgage lender in 2010 with £30bn of gross mortgage lending and a 22 per cent market share.
Unanimous MPC vote holds bank rate at 0.5%

25 August 2011

All nine members of the Bank of England’s monetary policy committee have voted in favour of keeping the base rate at a record low of 0.5 per cent.Prior to the August meeting, the MPC had been split 7-2 in favour of keeping interest rates at 0.5 per cent, with Spencer Dale and Martin Weale calling for a 0.25 per cent increase.But the minutes from the August meeting show Dale and Weale have now fallen in line with the rest of the committee due to weak economic ...
FSA bans mortgage broker who committed £3m mortgage fraud

24 Aug 2011

Yasmin Choudhary was found guilty of 13 offences in February 2010.
NatWest launches new products and cuts rates

24 Aug 2011

New products include 3.39% two-year fix up to 75% LTV.
OFT issues warning over scam loan companies

22 Aug 2011

OFT says complaints about loan scams up 50%.
Moneygate acquires Sheffield-based IFA

22 Aug 2011

Results Financial acquisition takes Moneygate adviser numbers to 120 and AUM to £250m.
Whiteaway Laidlaw Bank acquires Link Loans

22 Aug 2011

WLB set to rebrand following acquisition.
Barclays cuts fixed rates by up to 0.41%

22 Aug 2011

Lender says cuts affect up to 60% of subsidiary Woolwich’s fixed rate range.
HSBC branch head to become Yorkshire BS chief

19 Aug 2011

Chris Pilling to join on December 31.
Halifax and Experian team up to help rejected applicants

19 Aug 2011

New scheme offers unsuccessful applicants advice about how to improve credit score.
Savills reports £20m profit in first half of 2011

18 Aug 2011

Profits up from £14.4m in first half of 2010, to £20m in first half of 2011.
Gross mortgage lending down 6% year-on-year

18 Aug 2011

Gross mortgage lending £12.6bn in July, down from £12.68bn in June.
Vertex fails in move to acquire Skipton arm HML

18 Aug 2011

Talks have broken down between Vertex and Skipton Building Society over the acquisition of the society’s third-party mortgage servicer subsidiary HML, Money Marketing understands.
Borrowers overpaying mortgageswhile rates are still low

18 August 2011

Borrowers are increasingly looking to overpay on their mortgages, according to brokers.The Bank of England has kept bank rate at a record low of 0.5 per cent for the past 29 months and it is unlikely it will increase for some time.Emba group sales and marketing director Mike Fitzgerald says: “People are trying to get into a better position before the cold winds blow across Europe and fuel bills rise and interest rates rise. I think everyone realises now that ...
Europe committee revives plan for 14-day mortgage cooling-off period

18 August 2011

A committee scrutinising the European Union’s mortgage directive has resurrected the idea of a 14-day cooling-off period for borrowers after a mortgage offer has been made.Plans for a 10-day cooling-off period were considered by the European Commission when it first began to formulate draft proposals for the mortgage credit directive.But in January, it emerged that the EC was no longer considering the proposal and the EC’s draft directive, published in March, ...
Halifax pulls equity-release alternative home scheme

18 August 2011

Halifax has withdrawn its retirement home plan which was marketed as an alternative to equity release and aimed at people over 65.
Inflation to rise to 5%, warns BoE

18 August 2011

Inflation will remain above the Government’s 2 per cent target for at least 12 months and is likely to rise to 5 per cent this year while interest rates look set to stay on hold until 2013.The latest figures from the Office for National Statistics show inflation stood at 4.2 per cent in June, after falling from 4.5 per cent in May.In the Bank’s August’s inflation report, published last week, the monetary policy committee says inflation is likely to rise in the coming ...
LibDems want CGT on all home sales over £1m

18 August 2011

The Liberal Democrats are pushing for capital gains tax to be levied on all homes sold over £1m after acknowledging they will lose the battle to retain the 50p highest rate of income tax.
Rating agencies want back-up on RMBS

18 August 2011

Third-party mortgage servicers say rating agencies are beginning to insist there must be back-up arrangements to service mortgage-backed securitisations if the primary issuer is unable to do so.They also believe rating agencies are getting stricter even where there are back-up agreements in place.Crown Mortgage Management group chief executive officer Eric Stoclet says: “I think what the rating agencies are saying, given the uncertainties in the market, is we ...
Halifax makes changes to income verification process

17 Aug 2011

Changes take effect from tomorrow.
Mortgage arrangement fees up 17%

17 Aug 2011

Average fee now £1,030, up from £879 a year ago.
Coventry BS to launch two new five-year fixes

16 Aug 2011

Product rates are 3.49 per cent and 3.60 per cent.
Intermediary mortgage volumes up in Q2

16 Aug 2011

First-time buyer and home mover loans via intermediaries up 25% and 24% respectively.
TMW reduces rates by up to 1.4%

15 Aug 2011

Lender also extends 20% annual overpayment allowance to entire range.
Two in five sellers forced to slash asking prices

15 Aug 2011

38.6% of all properties on market have had price slashed at least once, up from 32% a year ago.
Halifax to pull retirement home plan

12 Aug 2011

Product to be pulled on Wednesday.
Building societies lead innovation march

12 Aug 2011

Paul Thomas reports on how innovation in the mortgage market is coming from an unlikely source.
Skipton BS launches 10-year fix at 5.85%

11 Aug 2011

Product available up to 85% LTV.
Repossessions down 7% year-on-year

11 Aug 2011

Buy-to-let loans increased 21% in second quarter, according to CML.
Bank rate held at 0.5% for 29th month

11 August 2011

The Bank of England monetary policy committee held bank rate at 0.5 per cent for the 29th month in a row last week and kept quantitative easing at £200bn.
HSBC bucks bank mortgage market trend

11 August 2011

HSBC was the only major highstreet bank that increased its mortgage lending and improved its market share in the first half of 2011.
Europe suggests 14-day mortgage cooling-off period

10 Aug 2011

CML says new committee report takes mortgage directive in “unexpected” and “inappropriate” direction.
Number of FTB mortgages reaches 10-month high

10 Aug 2011

FTB mortgages up 24% by volume and 29% in value on May.
Inflation to be above target for "at least another year"

10 Aug 2011

BoE governor Mervyn King says little MPC can do about near-term inflation.
CML appoints Martijn Van der Heijden as new chairman

8 Aug 2011

HSBC head of lending Martijn Van der Heijden takes up role on August 8.
Treasury to close sale and rentback loophole

5 Aug 2011

The Treasury is introducing new sale and rentback regulation.
House prices down 2.6% on annual basis in July

5 Aug 2011

Average house price now £163,981.
Coventry increases gross lending by 19%

5 Aug 2011

Society reports £45m profit in the first half of the year.
How default lines could hit homeloans

5 Aug 2011

Paul Thomas asks if the Greek debt crisis and threat of a US downgrade will be a temporary blip or a perfect storm for the UK mortgage market.
BoE leaves base rate at 0.5%

4 Aug 2011

Base kept at 0.5% for 29th consecutive month.
LSL Property Services profits fall 67%

4 Aug 2011

Group says profits down due to acquisition of Halifax Estate Agents for £13.4m.
Coventry Intermediaries launches buy-to-let fix with no ERCs

3 Aug 2011

Deal is fixed for two years at 3.99%.
Principality launches first securitisation

3 Aug 2011

Building society issues £686m RMBS.
Barclays cuts rates by up to 0.55%

3 Aug 2011

Rate cuts affect up to 40% of lender’s mortgage range.
Yorkshire BS enters buy-to-let sector

3 Aug 2011

Lender is offering two fixed rate products, with rates starting from 4.29%.
Nationwide reduces five-year fixes and two-year trackers

2 Aug 2011

Five-year fixed rate available at 3.99% up to 70% LTV and £99 fee.
Precise increases maximum loan size to £1m

2 Aug 2011

Previous maximum was £500,000.
Vertex head of financial services leaves firm

2 Aug 2011

Charlesworth is replaced by Robert Coyle.
Alliance of Mortgage Packagers and Distributors shuts down

1 Aug 2011

Director Liza Campion says AMPD had “no option” but to close down.
HSBC increases UK mortgage lending by 35%

1 Aug 2011

Gross mortgage advances were £6.7bn in first half of year.
Clydesdale Bank adds three-year fixes to range

1 Aug 2011

Rates start from 3.19% for a 70% LTV product.
'US likely to be downgraded even if debt ceiling is increased'

29 Jul 2011

Capital Economics says downgrade can be avoided if US makes $4trn of spending cuts over 10 years.
House prices up 0.2% in July

29 Jul 2011

Prices down 0.4 per cent on a yearly basis.
B&B arrears fall while NRAM arrears increase

29 Jul 2011

Bradford & Bingley and Northern Rock Asset Management make significant profits in H1.
John Charcol offers two new 95% LTV exclusives

28 Jul 2011

Broker offers family offset and rent-to-buy deals.
Euro fears delay West Brom securitisation

28 Jul 2011

West Bromwich BS has postponed the issue of its £410m residential mortgage-backed securitisation due to concerns about market conditions in the eurozone.
Paragon's securitisation preparations "well advanced"

28 Jul 2011

Group advanced £95.3m since return to new lending.
Yorkshire BS profits up 27% in first half of 2011

28 Jul 2011

Gross mortgage lending doubled in first half of year compared to same period last year.
Aifa fears over data collection demands

28 July 2011

Aifa says it has serious concerns about the cost and time implications of the FSA’s data collection proposals for advisers and warns they may breach human rights conventions.
Cable wants ICB to justify ringfencing

28 July 2011

Business Secretary Vince Cable has called on the Independent Commission on Banking to demonstrate that ringfencing retail banking activities would be as effective as the full separation of retail and investment divisions.
MPC predicts 5% inflation peak soon

28 July 2011

The Bank of England’s monetary policy committee has warned that rising food and utility prices could push inflation to more than 5 per cent in the coming months.
Price war looms for buy-to-let as lenders look to boost business

28 July 2011

Buy-to-let specialists predict there could be a price war as lenders struggle to achieve lending targets with residential mortgages.
Yorkshire set to shell out for Egg mortgage book

28 July 2011

Yorkshire Building Society is set to acquire Egg Banking’s mortgage and savings business, which comprises a £2.5bn savings book and a £430m mortgage book.
Omnii launches client credit file access tool

27 Jul 2011

Product allows advisers to access customers’ credit files without client being present.
Santander's gross mortgage lending down 21%

27 Jul 2011

Bank advanced £9.7bn in first half of 2011, compared to £12.3bn in first half of 2010.
PosSol cuts 20% of head office jobs

27 Jul 2011

Positive Solutions is cutting almost a fifth of its head office workforce in a bid to reduce costs.
Cable: Ring-fencing must be as effective as full bank seperation

27 Jul 2011

Business secretary Vince Cable has called on the ICB to demonstrate that ring-fencing retail banking activities would be as effective as the full separation of retail and investment divisions.
Skipton BS advances in first half of 2011 up 409% year-on-year

26 Jul 2011

Skipton reports pre-tax profit of £6.3m in H1, compared to £21.7m same period last year.
Mortgage firm default adds £7.3m to FSCS levy

26 Jul 2011

Compensating firm’s customers cost £7.3m, causing levy to increase from £217m to £224.3m.
Hinckley & Rugby BS launches online application system

26 Jul 2011

Online system allows intermediaries to follow application through to completion.
Aifa issues human rights concerns over FSA data collection

25 Jul 2011

Aifa says individual adviser complaint reporting may carry human rights concerns.
Co-op Financial Services chief exec to step down

25 Jul 2011

Neville Richardson will step down from his roles as Co-operative Financial Services chief executive and group deputy chief executive later this year.
Virgin cools interest in 630 Lloyds branches

25 Jul 2011

Virgin Money is set to cool its interest in the 630 Lloyds Banking Group branches for sale and will instead focus its intention on Northern Rock.
Coventry Intermediaries launches fixed range with no ERCs

22 Jul 2011

Products start from 2.99%.
EU lacks sympathy for UK's buy-to-let stance

22 Jul 2011

BSA argues buy-to-let should be excluded from EU mortgage credit directive.
Is RBS becoming more broker-friendly?

22 Jul 2011

Mortgage advisers report the bank is favouring intermediaries again following an aggressive dual-pricing strategy.
N&P cuts 85% LTV fixed rates by up to 0.4%

22 Jul 2011

Five-year fixed rate now available under 5%.
Yorkshire BS reduces fixed rates by up to 0.4%

22 Jul 2011

Two and five-year fixed rates start from 2.59% and 3.49% respectively.
Higher LTVs held back by strict criteria

22 Jul 2011

The range of new mortgages at 90 per cent loan to value has increased significantly since the beginning of the year but brokers feel strict credit criteria and the price of these deals are hampering their take-up.
Ex-Virgin and Egg chiefs to run letting agency

21 Jul 2011

Shepherd Direct has set up a letting agency, Direct Lettings, to be run by former Virgin Money UK managing director Rob Clifford and former Egg chief executive Paul Gratton.
Abbey launches two new one-week deals

21 Jul 2011

Lender is offering a limited edition two-year tracker and five-year fixed.
Arrears fall in RMBS market

21 July 2011

The performance of the UK non-conforming residential mortgage-backed securities market has been stable in the year to March 2011, according to Moody’s Investor Service.
Banks posing online problems for brokers

21 July 2011

Mortgage brokers are concerned that banks are still making it difficult for them to submit mortgage cases online due to suspicions about the authenticity of the documents.
Kensington doubles support service teams

21 July 2011

Kensington has doubled its operations and underwriting teams in the last six months to bolster the service it offers intermediaries.
Will-writing alert

21 July 2011

The Legal Ombudsman has warned that confusion about whether will-writing firms and claims management companies are regulated leaves customers without protection.
Nationwide reduces rates by up to 0.3%

20 Jul 2011

Rate reductions apply to all two and three-year fixes for new customers.
Inflation peak could be higher than anticipated, says MPC

20 Jul 2011

Seven of nine MPC members voted to keep base rate at 0.5 per cent.
Gross mortgage lending up 16% in June

20 Jul 2011

Gross mortgage lending totalled £12.6bn in June.
Lloyds to launch £3.3bn securitisation

19 Jul 2011

RMBS backed by pool of prime residential mortgages originated by C&G and Lloyds TSB.
Accord rolls out tracker-fix hybrid mortgages

19 Jul 2011

Product tracks base for two years and then fixed for three.
Countrywide acquires estate agency Blundells

19 Jul 2011

Existing management team kept on to lead business.
LSL and Connells acquire stake in conveyancing firm

18 Jul 2011

Joint venture sees LSL, Connells and existing management all take 33.33% stake.
Kensington doubles maximum loan size to £1m

18 Jul 2011

Lender also doubles first-time buyer maximum loan size to £500,000.
UK buy-to-let RMBS performance improves in May

18 Jul 2011

Moody’s says buy-to-let borrowers will be able to cope with base rate increases.
Advisers report increase in buy-to-let finance availability

18 Jul 2011

Research shows intermediaries, on average, conducted 5.4% more B2L business in Q2.
Barclays launches FirstBuy mortgages from 4.59%

18 Jul 2011

Lender to reduce its fixed and tracker deals by up to 0.5%.
Kensington doubles underwriting and operations teams

15 Jul 2011

Lender also merged operations and underwriting departments into one team.
Can mortgage clubs survive?

15 Jul 2011

Paul Thomas reports on the polarisation of the mortgage club market.
Northern Rock and JC Flowers circle BTL lender CHL

14 Jul 2011

Firms are considering bids for buy-to-let lender Capital Home Loans, Money Marketing understands.
Prospect of rate rise is receding

14 July 2011

Bank rate was held at 0.5 per cent at last week’s monetary policy committee meeting for the 28th month in a row and quantitative easing has been kept at £200bn.The last rate change was on March 5, 2009, when it was cut from 1 per cent to 0.5 per cent.
SFO to probe marketing of ETFs

14 July 2011

The Serious Fraud Office has launched a review into how exchange traded funds are marketed and whether it has the capability to prosecute any wrongdoing in the industry.
Openwork appoints distribution and marketing MD

13 Jul 2011

Mark Duckworth currently commercial development director at Openwork.
NatWest to accept FirstBuy applications

13 Jul 2011

Scheme offer equity loan of 20% to first-time buyers buying new-builds.
TMW launches new buy-to-let products and reduces rates

13 Jul 2011

New trackers available from base plus 2.49%.
Clydesdale launches 90% LTV deals for new-builds

13 Jul 2011

Offset deals available from 4.49% and a £999 fee.
Castle Trust appoints James Neave as head of lending

12 Jul 2011

Neave previously managing director of CoreLogic Solutions.
Accord Mortgages cuts rates by up to 0.35%

11 Jul 2011

Lender says rate reductions are due to falling cost of funding.
Adviser jailed for £3m mortgage fraud

11 Jul 2011

Feruza Mettrick used identities of others to obtain mortgages on rented properties.
NatWest cuts buy-to-let rates by up to 1.4%

11 Jul 2011

Residential mortgages reduced by up to 0.46%.
N&P warns of branch closures if Yorkshire merger collapses

11 Jul 2011

N&P says some products and services could also be withdrawn if members vote against merger.
Remortgage advances up 17% in May

11 Jul 2011

CML says value of remortgage advances up £0.6bn in May.
Precise opens up product range to Scotland

8 Jul 2011

Precise Mortgages is opening up its entire product range to Scottish homeowners.
March of the non-conformists

8 Jul 2011

Paul Thomas asks if a spate of mortgage-backed securitisations is just the jolt the market needs
Abbey launches seven day deal at 3.35%

7 Jul 2011

Lenders also reduces rates by up to 0.2%.
BoE leaves base rate unchanged

7 Jul 2011

The Bank of England bank rate has been held at 0.5 per cent for the 28th month in a row and has kept quantitative easing at £200bn.
Credit Suisse launches £482m securitisation

7 Jul 2011

Credit Suisse has launched a £482m securitisation.
Avelo in bid to buy sourcing firm Trigold

7 Jul 2011

Avelo has approached TrigoldCrystal in a bid to acquire the mortgage sourcing system, Money Marketing understands.
Home-reversion launches could breathe Newlife into equity-release sector

7 July 2011

Newlife Home Related Finance, formerly New Life Mortgages, has launched two home-reversion products.
Property dealer jailed for fraud

7 July 2011

Property dealer Shaun Keily has been jailed for three years and disqualified from being a director for seven years for defrauding seven investors in deals worth over £1.3m.
SFO launches probe into ETFs

6 Jul 2011

The Serious Fraud Office has launched a review into how exchange-traded funds are marketed.
Halifax Intermediaries system glitch causes confusion

6 Jul 2011

Glitch caused a number of “dummy” products to appear on website that were unavailable.
Castle Trust appoints ex Burns Anderson CEO

6 Jul 2011

Mike Hughes joins as managing director of mortgages.
House prices up 1.2% in June

6 Jul 2011

Prices down 3.5% on a year ago.
Saffron Building Society launches 95% LTV deal

6 Jul 2011

Mortgage aimed at first-time buyers who have been renting for 12 months or more.
LSL's First Complete acquires TMA

6 Jul 2011

TMA brand will be retained in deal to acquire £250,000 TMA gross assets.
Santander to sell The Mortgage Alliance to LSL

5 Jul 2011

LSL Property Services is set to acquire mortgage club The Mortgage Alliance from Santander, Money Marketing understands.
FPC appoints former IMA chief as external member

5 Jul 2011

Robert Jenkins has previously chaired the Investment Management Association.
Grant Shapps calls on lenders to offer "mates mortgages"

5 Jul 2011

Grant Shapps calls for more “straightforward” products to help FTBs get on property ladder.
Property dealer jailed for defrauding investors

4 Jul 2011

Shaun Kiely defrauded seven investors in deals exceeding £1.3m
Aldermore launches two new buy-to-let deals

4 Jul 2011

Products start from 4.68%.
Housing equity withdrawal remains negative in Q1

4 Jul 2011

Housing equity withdrawal now negative since Q2 2008.
FSA: Small lenders fail to spot fraud risks

1 Jul 2011

Some small lenders are failing to identify fraud risks when they develop new mortgage products.
Heron in bid to fend off Euro BTL rules

1 Jul 2011

Paragon Group director of mortgages John Heron hopeful BTL mortgages will not be included in the EC’s mortgage rules following a lobbying trip to Brussels.
Lenders facing up to £380,000 annual bill to meet FSA guidelines

1 Jul 2011

Lenders face up to £380,000 annual bill to comply with the FSA’s mortgage fraud guidelines.
Regulator castigates lenders on staff training standards

1 Jul 2011

The majority of lenders do not have adequate focus on mortgage fraud prevention in their staff training programmes, according to the FSA.
Surveyor convicted for £10m mortgage fraud

1 Jul 2011

Mary-Jane Rathie received gifts for inflating property prices to obtain mortgages for another woman.
Oakwood to service second-charge and unsecured loans

1 Jul 2011

Servicer has appointed Gerry McHugh to oversee the process.
Time to pass on the change

1 Jul 2011

Paul Thomas reports on a recent Which? survey which calls for reductions in lenders’ standard variable rates
Co-op and Britannia launch new 10-year fixed range

30 Jun 2011

Products available up to 75% and rates start at 5.29%.
House prices down 1.1% year-on-year in June

30 Jun 2011

Average price now £168,205.
Newlife launches two new home reversion plans

30 Jun 2011

Consumers can release a minimum of £25,000 or 25% of property’s value.
FSA finds BTL being exploited

30 June 2011

The FSA says some intermediaries are using buy-to-let and let-to-buy mortgages for self-certification customers who find it difficult to obtain a residential mortgage.
'MMR delay will create regulatory uncertainty'

30 June 2011

The FSA’s decision to delay the next mortgage market review consultation paper will create a “lack of regulatory certainty” for brokers, according to the Association of Mortgage Intermediaries.
Nine brokers probed for mortgage fraud

30 June 2011

The FSA is investigating nine brokers for suspected mortgage fraud, according to a freedom of information request.
OFT tells sub-prime firm Swift to improve or lose its licence

30 June 2011

The Office of Fair Trading has warned subprime lender Swift that it must improve its lending and collection practices or risk losing its credit licence.
'Vet brokers more rigorously'

30 June 2011

The FSA is concerned that lenders are not properly vetting mortgage brokers before accepting them on to their broker panel.
Workload could lead to fraud

30 June 2011

Some small lenders are failing to identify fraud risks when they develop new mortgage products.
Trade bodies team up to battle EU mortgage regulation

29 Jun 2011

Five trade bodies calling for principles-based and proportionate approach to regulation.
Scottish Government launches mortgage indemnity scheme

29 Jun 2011

Gov’t hopes it will result in higher LTV mortgages made available to borrowers without big enough deposit.
Former Money Partners chief exec Colin Sanders joins Omni Capital

29 Jun 2011

Sanders joins as chief executive.
House purchase approvals static in May

29 Jun 2011

45,940 approvals slightly lower than six-month average of 45,957.
Gross lending by mutuals up 20% year-on-year in May

29 Jun 2011

Mortgage approvals up 15% to £1.8bn.
Precise Mortgages to launch interest-only product

29 Jun 2011

Firm says it will lend at up to 75 per cent loan-to-value on an interest-only basis.
House prices down 2.2% year-on-year in May

28 Jun 2011

Prices fell by 0.4% between April and May.
Bank of Ireland withdraws bond offer

28 Jun 2011

Bank cites “procedural difficulties” for offer withdrawal because some investors not able to participate.
Abbey to allow intermediaries to submit documents online

27 Jun 2011

Intermediaries can upload and amend documents online from tomorrow.
Lloyds most exposed to "vulnerable" high LTV borrowers

27 Jun 2011

60% of Lloyds’ £345bn mortgage book is classed as “high” or “very high” LTV.
Mortgages fall to lowest ever rate, says Moneyfacts.co.uk

27 Jun 2011

Moneyfacts.co.uk says rate falls down to lower funding costs.
Leeds BS appoints Peter Hill as new chief executive

24 Jun 2011

Hill steps into chief exec role because favoured candidate David Pickersgill is on sick leave.
Trio join FSCS board

24 Jun 2011

Trio replace Sandy Kinney, Chris Woodburn and Terry Connor, who complete their time on the board.
Castle Trust appoints Mikkel Bates as head of marketing

24 Jun 2011

Bates has 30 years’ experience in financial services.
Cameron wins Greek bail-out battle

24 Jun 2011

European contribution will be limited to eurozone countries.
Yorkshire BS launches new fee-free two-year fix

24 Jun 2011

Building society also launches new 75% LTV two-year fix at 3.39%.
Will green homeloans take off?

24 Jun 2011

Paul Thomas reports on why energy-efficient homeloans have failed to go mainstream.
Capital Private Finance appoints Ian Baker as sales director

23 Jun 2011

Baker previously John Charcol’s sales manager.
CML appoints Paul Smee as new director general

23 Jun 2011

Smee takes up position on August 1.
OFT threatens to remove Swift's credit licence

23 Jun 2011

OFT warns Swift it must improve its practices or risk removing its credit licence.
Leeds seeks chief as favoured candidate falls ill

23 Jun 2011

Leeds Building Society is recruiting for a new chief executive in the event that deputy chief executive David Pickersgill.
FSA delays MMR proposals until autumn

23 Jun 2011

FSA chairman Adair Turner says proposals need “wide-ranging debate” before final rules published.
Intermediaries abusing buy-to-let for self-cert borrowers

23 Jun 2011

FSA says brokers are “gaming” lenders’ systems to bypass stringent income checks.
Federal Reserve cuts US growth forecast

23 Jun 2011

Fed says latest round of quantitative easing will end on June 30.
Second-charge deposit deal links top-up loan to house price swings

23 June 2011

Brokers say clients must understand that Castle Trust’s new second-charge mortgage, which aims to lower a borrower’s monthly repayments by boosting their deposit, could work out significantly more expensive than a traditional mortgage at a higher loan to value.
Lenders' underwriting teams overstretched, says FSA

22 Jun 2011

Regulator says some teams too junior to spot mortgage fraud risk.
FSA orders lenders to improve broker vetting

22 Jun 2011

FSA says lenders should not rely on FSA register checks alone.
Four major lenders will not lend to Castle Trust borrowers

22 Jun 2011

Santander, HSBC, Barclays and ING Direct say they would not lend to borrowers who take out Castle Trust’s new partnership mortgage.
MPC swings 7-2 in favour of keeping rates at 0.5%

22 Jun 2011

New MPC member Ben Broadbent votes to keep rates the same.
Lloyds mortgage boss and CML chairman Colin Walsh to quit

22 Jun 2011

No date agreed and Walsh will oversee transition to new structure within bank.
JP Morgan pays $154m to end US fraud case

22 Jun 2011

JP Morgan alleged to have misled investors in mortgage-relates security.
Lenders are squeezing SVR borrowers, says Which?

22 Jun 2011

Consumer champion says 95% of lenders failed to cut SVRs since base rate dropped to 0.5%.
Castle Trust appoints Martyn Guerin as chief operating officer

21 Jun 2011

Guerin joins from Barclays and will head firm’s mortgage team.
Co-op to launch £871m securitisation

21 Jun 2011

RMBS follows £2.5bn transaction in February 2010.
Repossessions up 17% in Q1

21 Jun 2011

FSA says number of cases in arrears fell 8% between Q4 2010 and Q1 2011.
Woolwich cuts fixed rates by up to 0.31%

21 Jun 2011

Lender also launches two new tracker products.
US regulator sues JP Morgan and RBS for $800m

21 Jun 2011

National Credit Union Administration claims firms misrepresented risk associated with mortgage-backed securities.
IMF seeks Greek bail-out assurances

21 Jun 2011

IMF has blocked a £10.6bn aid payment until it receives assurances of new bail-out package.
Former Langbar chief jailed for misleading the market

20 Jun 2011

Stuart Pearson sentenced to 12 months imprisonment and banned from acting as director for five years.
Gross mortgage lending up 12% in May

20 Jun 2011

£11.3bn gross lending figure 1% up on May 2010.
JC Flowers backs new investment and mortgage business

20 Jun 2011

Firm will be chaired by former FSA chairman Callum McCarthy.
Boulger blasts seasonally adjusted prices

17 Jun 2011

Ray Boulger has branded seasonally adjusted house price indices such as those from Halifax and Nationwide as “a farce”.
44% Plan to see a broker to fix up next mortgage

16 June 2011

Less than half of borrowers say they plan to use a broker for their next mortgage, according to research by Legal & General Mortgage Club and the AMI.
Bank is in the thick of it with rate conundrum

16 June 2011

Bank of England bank rate has been held at 0.5 per cent for the 27th month in a row, with quantitive easing held at £200bn.
Cable tax threat if banks fail to step up lending

16 June 2011

Business Secretary Vince Cable has warned the UK’s biggest banks could face tougher taxation policies if they fail to meet the lending targets set out in the Merlin agreement.
HSBC says raising banks' cap-ad will hit lending

16 June 2011

HSBC group chairman Douglas Flint says raising banks’ core tier one capital ratios to 10 per cent will stunt lending.
RBS warns ringfencing bank retail arms would raise risk

16 June 2011

Royal Bank of Scotland chief executive Stephen Hester says proposals for UK banks to ring-fence their retail arms would raise risk in the banking industry.
Shapps aims to free public land for 100,000 houses

16 June 2011

Housing minister Grant Shapps has set out plans to release Government-owned land to build up to 100,000 new homes by 2015.
Brokers urged to target unserviced bank customers

11 Jun 2011

Research shows 44% of borrowers plan on using broker when looking for next mortgage.
Virgin says it may sell via IFAs if Rock bid succeeds

10 Jun 2011

Virgin Money says it may distribute its mortgage products through intermediaries if its bid to acquire Northern Rock plc and 600 Lloyds Banking Group branches is successful.
Virgin set to challenge banking big guns

10 Jun 2011

If Virgin’s bid to take over Northern Rock and hundreds of Lloyds’ branches is a success, the big banks will face a serious challenger almost overnight, reports Paul Thomas
Santander Private Banking hires new managing director

10 Jun 2011

Sue Hayes was previously managing director of Santander Business Banking.
BoE leaves base rate unchanged

9 Jun 2011

Base rate held at 0.5% for 27th consecutive month.
Abbey for Intermediaries launches two one-week deals

9 Jun 2011

Both deals are available for a week only and rates start from 1.99%.
Increasing capital requirement will stunt lending, says HSBC

9 Jun 2011

Increase of even 1% will stop billions of pounds being lent.
Ring-fencing banking activities will create more risk, says RBS chief

9 Jun 2011

Stephen Hester says ring-fencing will be costly to the banking industry and increase risk.
CML expects positive tone and stability for lending and property prices

9 June 2011

The Council of Mortgage Lenders predicts that gross lending will increase by more than 10 per cent to £150bn by the end of next year.
Downgrade threat for US over stand-off on deficit cuts

9 June 2011

Rating agency Moody’s has warned it could downgrade the US government’s credit rating if no progress is made on increasing the country’s statutory debt limit and reducing its deficit.
Kensington RMBS ratings downgraded by Moody's

9 June 2011

Moody’s has downgraded the ratings of nine non-conforming tranches within one of Kensington Mortgages’ residential mortgage-backed securities due to their loss levels and “relatively high delinquency rates”.
Trichet wants a ministry to intervene across Europe

9 June 2011

European Central Bank president Jean Claude Trichet has suggested the European Union should create a European finance ministry to oversee fiscal and competitiveness policies across the EU.
Gov't plans to release land to build 100,000 new homes

8 Jun 2011

Gov’t departments to release thousands of acres to house builders by 2015.
Cable fires warning shot to banks over lending targets

8 Jun 2011

Vince Cable says Gov’t will be less lenient in its taxation policy towards banks if targets missed.
Boxing promoter Barry Hughes in court over mortgage fraud charges

8 Jun 2011

Hughes and his wife alleged to have lied about income on mortgage application.
Yorkshire Building Society launches first securitisation

7 Jun 2011

Yorkshire Building Society launches its first residential mortgage backed securitisation worth £750m.
Platform reduces rates and launches new buy-to-let products

7 Jun 2011

Lender also launches range of products with no ERCs.
Surveyor charged with £10m Bank of Scotland mortgage fraud

7 Jun 2011

Mary-Jane Rathie overvalued properties in exchange for “gifts”.
Ship looks to expand membership to advisers

7 Jun 2011

Former Aifa director general Paul Smee to head committee to look at expanding membership.
House prices down 4.2% year-on-year in May

7 Jun 2011

Prices increased by 0.1% to £160,519 between April and May.
FSA cancels brokerage's permissions over unpaid fees

7 Jun 2011

Select Mortgage Services owed £1,675 to the regulator.
Barclays extends remortgage LTV to 85%

6 Jun 2011

New 85% LTV deal is 4.69% fixed for two years.
Kensington launches capped tracker range

6 Jun 2011

Rates start from 3.14%.
Lloyds to spare Scottish Widows in strategic review

6 Jun 2011

Scottish Widows thought to be considered too valuable to off-load.
Mortgage product numbers reach three-year high

6 Jun 2011

Mortgage Brain says there are now 11,996 live products on its sourcing system.
Moody's downgrades Kensington and Money Partners RMBS

3 Jun 2011

90 days arrears rates in Kensington and MP’s RMBS tranches 29% and 34.3% respectively.
FSA cancels mortgage broker's permissions

3 Jun 2011

Regulator cancels permissions over £1,137 of unpaid fees and levies.
ECB president Trichet calls for European finance ministry

3 Jun 2011

Institution would have power to veto national economic decisions.
Moody's warns of US downgrade

3 Jun 2011

Ratings agency says downgrade possible if US fails to raise cap on borrowing.
Lenders are urged to end borrower confusion over porting

3 Jun 2011

Lenders are asked to address borrower confusion over porting as FOS complaints rise, reports Paul Thomas
Yorkshire BS launches two new drop-lock mortgages

3 Jun 2011

Customers can switch from tracker to fixed rate without penalty.
Nationwide cuts two-year 50% LTV fixes by 0.15%

2 Jun 2011

Rates start from 2.99%.
£150K limit in complaint shake-up

2 June 2011

The regulator has increased the Financial Ombudsman Service’s award limit from £100,000 to £150,000 and confirmed new complaint-handling rules for firms.
Lloyds Solvency II director Ewing is joining Aegon as chief actuary

2 June 2011

Aegon has appointed former Lloyds Banking Group Solvency II director Jim Ewing as its chief actuary.
Barclays cuts rates for fourth time in six weeks

1 Jun 2011

Rates reduced by up to 0.21% on a number of fixed rates and trackers.
Gross lending to increase 10% by end of 2012, says CML

1 Jun 2011

Gross advances to increase from £136bn in 2010 to £150bn in 2012.
Skipton BS launches two new buy-to-let trackers

1 Jun 2011

Rates start from base rate plus 2.74%.
FSA advisory panel calls on regulator to delay MMR

1 Jun 2011

FSCP says regulation should stop reckless lending but not stop people from borrowing.
Mortgage Trust launches new buy-to-let range

31 May 2011

Rates start from 4.3%.
Intermediaries account for 63% of FTB mortgages in Q1

31 May 2011

Intermediaries also account for 60% of remortgage loans and 53% of home mover loans.
House prices up 0.8% in April

31 May 2011

Prices fell by 1.3% on annual basis.
Sants - UK regulatory system could become local police force for EU

31 May 2011

Leading regulatory figures fear the UK will lose autonomy to Europe and may end up becoming more of a local police force.
First-time buyers fear they will never own a home

31 May 2011

Two-thirds think they will never own a home despite 77% saying they still aspire to homeownership.http://cms.moneymarketing.co.uk/cms/commentEdit.aspx?label=comment&id=42347&KeepThis=true&modal=true&TB_iframe=true&width=650&height=500#
FSA issues warning over Connaught funds

27 May 2011

FSA says way funds advertised could be misleading to investors.
FOS limit increased to £150,000

27 May 2011

FSA also confirms new complaint handling rules.
Teachers BS returns to intermediary market

27 May 2011

Building society says it is using intermediaries to grow its customer base.
Abbey for Intermediaries increases large loan LTV

27 May 2011

LTV increased from 60% to 70% and lender has launched range of new products.
Northern Rock cuts rates by up to 0.5%

27 May 2011

Lender has also cut a number of buy-to-let products.
House prices up 0.3% in May

27 May 2011

But prices fall 1.2% on an annual basis.
Remote control

27 May 2011

Mortgage experts tell Paul Thomas that controlling credit by capping LTVs will not curb market volatility
Tiuta pulls out of regulated mortgage business

26 May 2011

Short-term lender now solely focused on professional bridging loans.
West Brom reports £13.1m pre-tax loss

26 May 2011

Loss is improvement on £18.5m pre-tax loss the year before.
Majority of FTBs support tighter mortgage regulation

26 May 2011

79% think lenders were irresponsible before crisis.
Coventry BS looks at finance options for Rock bid

26 May 2011

Nationwide rules itself out of running for state-backed bank.
Nationwide pares top LTV to 80%

26 May 2011

Nationwide has reduced the maximum loan to value for non-home improvement loans from 85 to 80 per cent.
Banks claim they missed business loan target due to low demand

26 May 2011

The UK’s biggest banks have missed the £19bn quarterly lending target to small and medium-sized businesses by £2.2bn in the first quarter of this year.
BoE still split over rate rise

26 May 2011

The Bank of England’s monetary policy committee remained split on an interest rate rise in May, with six committee members voting for bank rate to stay at 0.5 per cent.
Mortgage lending hit by bank holidays

26 May 2011

Gross mortgage lending fell to an estimated £9.8bn in April, down by 14 per cent from £11.4bn in March, according to the Council of Mortgage Lenders.
Regulator probes RBS on Goodwin injunction

26 May 2011

The FSA confirmed it has contacted Royal Bank of Scotland for details of the alleged relationship between former chief executive Sir Fred Goodwin and a colleague.
Rowntree report calls for LTV cap to cut volatility

26 May 2011

Action is needed to reduce volatility in the housing market before another boom and bust cycle, says social policy research and development charity the Joseph Rowntree Foundation.
Securitisation market back on track after Santander's £3.7bn success

26 May 2011

Santander UK has sold £3.75bn of mortgage-backed bonds in the biggest publicly placed securitisation issue in the UK since the 2007 credit crisis.
Aegon appoints Jim Ewing as chief actuary

25 May 2011

Ewing joins from Lloyds Banking Group where he was Solvency II director.
FSA fines Bank of Scotland £3.5m for complaint mishandling

25 May 2011

Bank to pay up to £17m in compensation for mishandling of investment complaints.
Nationwide advances £12.8bn to homeowners in past year

25 May 2011

Lender says 23% of new borrowers were first-time buyers in past year.
IMF leader should be from developing nation, say Brics

25 May 2011

Brics countries express concern at statements saying role should stay in European hands.
Halifax places further restrictions on interest-only

24 May 2011

Lender now requires proof of repayment vehicle before offer stage.
'Monetary policy levers futile against recent inflation shocks'

24 May 2011

MPC member Paul Fisher says putting base rate up would be “wrong” at present moment.
Accord cuts 85% LTV mortgages by up to 0.15%

24 May 2011

Two-year fixed rates start from 4.09%.
Woolwich slashes Bovis new build mortgage by 1.2%

24 May 2011

Rate cut from 4.99% to 3.79%.
Skipton BS appoints Mike Ellis as chairman

24 May 2011

Ellis replaces Alastair Findlay, who is stepping down from the board after five years.
Paragon reports 34.8% increase in pre-tax profits

24 May 2011

Lender reports £39.5m pre-tax profit in first half of 2011, compared to £29.3m same time last year.
HML launches PPI complaints handling service

23 May 2011

New service offers PPI redress advice or total management of complaint handling.
Banks fall short of Merlin lending targets

23 May 2011

Lending to SMEs falls £2.2bn short of the £19bn quarterly target.
Precise Mortgages reveals short-term lending products

23 May 2011

Lender launches with three short-term products.
Mortgage lenders wage 'rate war' in race for market share

20 May 2011

Lenders have entered into “a rate war” that has seen many make significant cuts to their mortgage rates in a bid to grab market share, according to brokers.
Abbey for Intermediaries launches remortgage exclusive

20 May 2011

The two-year fixed rate is available to key accounts at 3.19%.
Gross lending falls 14% in April

20 May 2011

Gross lending down to £9.8bn from £11.4bn in March.
Santander issues £3.75bn securitisation

19 May 2011

Deal is largest publicly placed RMBS issue in UK since 2007.
Fred Goodwin super-injunction details raised in Lords

19 May 2011

Lord Stoneham used parliamentary privilege to discuss details of Goodwin’s super injunction.
Rent control

19 May 2011

Fears that a 5 per cent fall in house prices will push buy-to-let borrowers into the red underestimate the strength of the rental market, says Paul Thomas
Precise Mortgages enters short-term lending market

19 May 2011

Launch date to be announced next week.
Skipton puts HML up for sale

19 May 2011

Building society understood to be searching for a potential buyer for its third-party mortgage servicer subsidiary.
Advisers split on whether RDR to boost standards

19 May 2011

Advisers are split over whether the retail distribution review will improve the standard of financial advice given to clients.
CSG makes first IFA purchase for £2m

19 May 2011

Private client stockbroker Char-les Stanley Group has acquired Birmingham-based IFA James Jobson Financial Services in a deal worth up to £2.25m.
N&P makes a buy-to-let comeback

19 May 2011

Norwich & Peterborough Building Society has returned to buy-to-let lending almost two years after it exited the market.
MPC remains split over base rate increase

18 May 2011

Six members voted to keep base rate at 0.5%, while three voted for increase.
UK inflation rises to 4.5% in April

17 May 2011

Inflation up from 4 per cent in March.
RPS exits sale and rent-back sector

16 May 2011

Parent company conducts strategic review following managing director and head of operations’ resignation.
Largemortgageloans.com hires Mike Perrin as head of sales

16 May 2011

Perrin was formerly a director at Savills Private Finance.
Nationwide cuts trackers by 0.2%

16 May 2011

Three-year low fee products and no fee further advance products exempt from reductions.
Northern Rock launches Freedom to Fix tracker

16 May 2011

New tracker allows customers to switch to fix without early repayment charges.
Charles Stanley acquires IFA firm Jobson James for £2.25m

16 May 2011

Total cost of deal depends on revenue targets being hit over two years.
Co-op and Britannia launch two-year fix at 85% LTV

13 May 2011

Lenders also reduced rates on number of three and five-year fixed rates.
'Claims management companies are an absolute menace'

13 May 2011

Building societies have hit out at claims management firms, accusing them of submitting claims without their clients’ knowledge.
Coles says societies should link up to promote mutual sector

13 May 2011

Building Societies Association director general Adrian Coles says building societies should look to promote the benefits of the mutual sector through a joint advertising campaign.
EU should leave members to create loan regulation

13 May 2011

The European Mortgage Federation says the European Commission should leave individual member states to formulate their own mortgage regulation.
Free advice service will act like a canary in a coalmine and guide regulation

13 May 2011

The Government’s free advice service will act like a “canary in the coalmine” and help guide future regulation, according to its managing director Tony Hobman.
More FTBs will enter market in 2014 when funding crisis eases

13 May 2011

LSL Property Services group chief executive Simon Embley says the funding crisis that has gripped the mortgage market will begin to ease by 2014, allowing more first-time buyers onto the housing ladder.
Remortgage activity rebounds in first quarter

13 May 2011

CML says it is linked to expectations of rise in interest rates.
'Mortgage lenders will have to compete with the likes of Tesco'

13 May 2011

Deloitte says supermarkets will compete with mortgage lenders by using sales information to tailor products for individual borrowers.
HML to axe 113 jobs

12 May 2011

Job cuts come as part of cost cutting measures, which will see closure of Padiham office.
N&P returns to buy-to-let sector

12 May 2011

Building society pulled out of sector in June 2009.
HSBC defends BBA over dropping of PPI review

12 May 2011

HSBC only major highstreet bank to publicly defend the British Bankers’ Association for its handling of the failed PPI judicial review.
Repossessions up 15% in Q1

12 May 2011

Repossessions increase from 7,900 to 9,100 between Q4 2010 and Q1 2011.
Banks are slammed for selling structured deposits to mass market

12 May 2011

Which? says structured deposits are not suitable for the mass market and claims banks are selling the products when simple savings accounts would be more appropriate.
BSA elects new chairman

12 May 2011

Principality Building Society chief executive Peter Griffiths has been elected chairman of the Building Societies Association.
FSA says compliance not up to scratch at some societies

12 May 2011

The FSA has expressed concerns about compliance structures within some building societies and warned firms they must improve their procedures.
Which? fears Horta-Osório joining LBG will hit customers

12 May 2011

Which? says it fears António Horta-Osório’s appointment as Lloyds Banking Group’s chief executive could result in a downturn in the bank’s customer satisfaction levels.
Yorkshire says it could make a bid for the Rock

12 May 2011

Yorkshire Building Society has revealed it is interested in bidding for Northern Rock plc when it is eventually put up for sale.
Aldermore increases maximum loan size to £1m

11 May 2011

Maximum for 75% deals previously £600,000.
HSBC to cut costs by up to £2bn

11 May 2011

Bank not looking to make cuts to its UK operations.
Countrywide launches advice service for new builds

10 May 2011

70 mortgage consultants on new build sites to offer advice to customers buying new builds.
Skipton BS launches new buy-to-let range up to 70% LTV

10 May 2011

Products available direct-only through society’s telephone service.
Leeds BS appoints Robin Ashton as non-exec director

10 May 2011

He is a chartered accountant with 25 years experience in financial services.
Property supply increases in April, say surveyors

10 May 2011

Surveyors expect house prices to increase over next three months.
Four convicted of mortgage frauds worth over £1m

9 May 2011

Four, from Yorkshire, given suspended sentences and community orders.
Kensington launches exclusive 90% LTV deals through L&G

9 May 2011

Rates start from 5.79%.
FSA warns against dealing with mortgage brokerage

9 May 2011

FSA says Munir Mughal, trading as Mortgage Bureau (UK) Hayes, is unauthorised.
House prices down 3.7% year-on-year in April

9 May 2011

Average price now stands at £160,395, says Halifax.
Yorkshire BS signals interest in Northern Rock

6 May 2011

YBS chief exec Iain Cornish calls for state-backed bank to be remutualised.
The big swindle

6 May 2011

Mortgage brokers must be on the defensive as fraud is a growing problem, says Paul Thomas
Bootle can't see rate rise until 2013

5 May 2011

The Bank of England bank rate is unlikely to rise until 2013 due to a weak economic recovery, according to Deloitte economic adviser Roger Bootle.
Buyout for Savills PF

5 May 2011

Savills plc has completed the sale of Savills Private Finance to the senior management team.
FSA warns building societies over compliance issues

4 May 2011

The FSA has issued a warning at the BSA conference that mutuals must improve their compliance structures.
'FSA should not wait for EU on regulation'

4 May 2011

European Mortgage Federation says EC directive “not fit for purpose”.
Savills Private Finance completes management buyout

3 May 2011

Business will be renamed SPF Private Clients.
Buy-to-let fears as lenders aim for amateur landlords

28 April 2011

Brokers are warning that buy-to-let lenders are targeting amateur landlords over large-scale professionals, which could cause a shortage in the rental market.
High street will get caught in arrears rise

28 April 2011

Sub-prime lenders make up most of the arrears figures but mainstream firms also face problems, reports Paul Thomas
Taylor made for Nottingham BS operations director role

28 April 2011

Nottingham Building Society has appointed Simon Taylor as new operations director.
Win a place on the IFA golf tour

28 April 2011

Events company UOLO is offering Money Marketing readers the chance to win a place on the UOLO IFA Golf Tour 2011.
Yorkshire in deal to take over N&P

28 April 2011

Yorkshire Building Society has agreed terms to acquire Norwich & Peterborough Building Society.
Housebuilders steer clear of starter homes

22 Apr 2011

Linden Homes group managing director Ian Baker has welcomed the Government’s FirstBuy scheme but believes that housebuilders will still focus their attention on those further up the housing chain.
Nationwide director warns of big arrears rise if rates increase

22 Apr 2011

Increases in the bank rate could force lenders to adopt harsher repossession strategies, according to Nationwide group distribution director Matthew Wyles.
Nationwide in plea for tax breaks in buy-to-let sector

22 Apr 2011

Nationwide group distribution director Matthew Wyles has called on the Government to introduce tax breaks to encourage more investors to the buy-to-let market.
Sub-prime lenders to blame for most repos

22 Apr 2011

Sub-prime lenders are to blame for most of repossession cases in the property market, says Nationwide group distribution director Matthew Wyles.
AMI gets ahead in advertising

21 April 2011

Marketing and financial services experts say the Association of Mortgage Intermediaries must target specific consumer groups and set out clear objectives if an advertising campaign to promote mortgage advice is to be a success.
Brokers banned and fined £450k

21 April 2011

The FSA has banned four mortgage brokers and imposed fines totalling £450,000 for mortgage fraud.
Lloyds keeps sales trio after C&G for Intermediaries shuts

21 April 2011

Lloyds Banking Group has named the three intermediary sales bosses it will retain after asking them to reapply for their jobs last week.
Mortgage Trust back with BTL loans

21 April 2011

Mortgage Trust has returned to new lending with a range of remortgage buy-to-let products.
BM Solutions launches new buy-to-let range

20 Apr 2011

Rates start from 2.75 per cent.
Gross mortgage lending up 21% in March

20 Apr 2011

Figure 2% down from £11.5bn in March 2010.
L&G launches exclusive 90% LTV mortgage with NatWest

19 Apr 2011

Product is fixed for two years at 5.79%.
N&P appoints new chief executive

19 Apr 2011

Anne Gunther previously chief executive of Standard Life Bank.
Mortgage Intelligence reports £389k loss in 2010

19 Apr 2011

Figure is an improvement on £696k loss the year before.
Tesco gearing up for summer mortgage launch

19 Apr 2011

Supermarket giant has “excess” of deposits over loans in preparation of mortgage launch.
Mortgage market will be stunted until 2014

19 Apr 2011

Datamonitor says market will not grow much this year but will reach £170bn by 2014.
Northern Rock cuts buy-to-let fixed rates by up to 0.4%

18 Apr 2011

Lender has launched a number of buy-to-let percentage fee products and tracker.
Kensington launches first-time buyer range

18 Apr 2011

Rates available from 4.79 per cent.
Mortgage Trust returns to new lending

18 Apr 2011

Buy-to-let lender MT pulled out of new lending in February 2008.
Mortgage Brain looks to buy after merger collapse

15 Apr 2011

Mortgage Brain chief executive Mark Lofthouse says the firm is considering other acquisitions following the collapse of its planned merger with rival TrigoldCrystal.
Personal Touch recruits acquisition specialist

15 Apr 2011

Personal Touch Financial Services has appointed Nicholas Bacon as a non-executive director to help the firm gear up for future acquisitions.
Lloyds names intermediary sales bosses

15 Apr 2011

Kevin Purvey to leave after four LBG intermediary bosses were asked to reapply for their jobs.
Unilever to close final salary pension scheme

14 Apr 2011

Just 21% of private sector schemes now open to new joiners, compared with 88% 10 years ago.
AMI in talks over £2m advertising campaign to promote advice

14 Apr 2011

The Association of Mortgage Intermediaries is in talks with a number of firms to fund a national advertising campaign to promote the benefits of mortgage advice.
Borrowers moving to offset rates

14 April 2011

Brokers suggest borrowers are increasingly opting for offset mortgages due to a combination of poor savings rates, an imminent increase in the Bank of England’s bank rate and concerns over house prices.
LTVs at highest level since 2008

14 April 2011

The average loan to value ratio offered on mortgage has reached its highest level since April 2008, according to E.surv.
OFT swoops to shut down lead websites

14 April 2011

The Office of Fair Trading has closed down 19 unlicensed lead-generation websites.
Pressing charges

14 April 2011

Many brokers believe clients are not getting value from lenders which have raised application fees sharply over the past few years. Paul Thomas reports
Skills Academy and Pru in training deal

14 April 2011

The National Skills Academy for Financial Services has teamed up with Prudential to offer the insurer’s financial skills training packages to client-facing support and administrative staff in the sector.
LBG intermediary head Peter Curran seconded to Lloyds TSB

13 Apr 2011

Curran taking on responsibilities of national director of mortgages Debbie McArdle after she left business.
TMW launches new buy-to-let range

13 Apr 2011

Range includes one-year tracker at base rate plus 1.99% up to 65% LTV.
FSA warns against "no cost" property income plan

12 Apr 2011

Plan promises 5% yearly income from home.
Just Retirement's equity release advances up 20.4% in 2010

11 Apr 2011

Group pre-tax profit down 51.1% to £25.5m in 2010.
Lloyds' intermediary bosses made to reapply for jobs

11 Apr 2011

Move comes after closure of C&G for Intermediaries.
EU looking to agree Portugal bail-out by mid-May

8 Apr 2011

The European Union is looking to agree a bail-out package for debt-stricken Portugal by the middle of May.
OFT closes 19 unlicensed lead generation websites

8 Apr 2011

Sites targeted disabled people, military personnel and those with impaired credit history.
Average LTV at highest level in three years

8 Apr 2011

Average LTV now 60.8%, up from 56.2% in March 2010.
Mortgage lending increases 8% in February

8 Apr 2011

Figures 12% down on the year before.
Coventry BS launches new fixed and variable rate deals

8 Apr 2011

Fixed rates start at 4.15% and flexx deals at 2.59%.
EU ministers meet to discuss Portugal bail-out terms

8 Apr 2011

UK contributions could reach up to £4.5bn.
The Horta-Osório effect

8 Apr 2011

Brokers are looking to see if the new Lloyds chief executive is going to bring Santander’s intermediary approach with him.
Base rate held at 0.5% and no more QE

7 Apr 2011

Rate kept at 0.5% for 25 consecutive months.
Age UK wants IFA link

7 Apr 2011

Age UK Enterprises is looking to form a referral partnership with a national IFA firm to give its customers access to independent financial advice.
Euro edict could see lenders axe tied advice

7 Apr 2011

Lenders may be forced to either provide advice about rivals’ products or scrap their tied-advice propositions in favour of an information-only service.
Portugal asks for EU bail-out

7 Apr 2011

UK could be asked to contribute up to £4.4bn.
Euro info sheet focuses on lenders

7 April 2011

The Association of Mortgage Intermediaries has warned that the new European standardised information sheet lacks information about the advice process and favours lenders over intermediaries.
FSA cancels adviser's permissions over unpaid CCJs

6 Apr 2011

The twelve CCJs against the adviser, or her firm, totalled £531,224.
Director charged in connection with £10m ponzi scheme

6 Apr 2011

Losses believed to be around £6m.
Countrywide bid for Savills falls through

6 Apr 2011

Talks between Countrywide and Savills Private Finance over a potential acquisition have collapsed, Money Marketing understands.
House prices up 0.1% in March

6 Apr 2011

House purchase approvals remain mostly static between February and March.
Mortgage product numbers up 123% in past year

6 Apr 2011

Over 500 new products added in March, taking total products to 10,418.
Nationwide caps interest-only lending at 75% LTV

5 Apr 2011

Applications received from April 6 considered on repayment basis only.
Precise Mortgages makes all products available to 80% LTV

5 Apr 2011

Lender has also replaced its percentage fees with fixed fees.
Barclays cuts offset mortgages by up to 0.5%

5 Apr 2011

Largest cut at 75% LTV, with mortgage now starting at 2.79% above base rate.
Base rate increase could derail recovery, says BCC

5 Apr 2011

Q1 saw small upturn in economy after 0.5% decline in Q4 2010.
CML urges conveyancers to sign up to Law Society's quality mark

4 Apr 2011

CML expects conveyancing quality mark to become industry standard.
Countrywide acquires Mortgage Intelligence

4 Apr 2011

Countrywide has acquired Mortgage Intelligence in a deal that has raised its mortgage market share to over six per cent.
Aldermore launches limited edition two-year discount mortgage

4 Apr 2011

Product available for £999 completion fee at 3.48%.
Govt's free advice service launches today

4 Apr 2011

Service available online, over phone and face-to-face.
Lighthouse Group forms advice tie-up with union Prospect

4 Apr 2011

Lighthouse has three year contract to provide financial advice to union’s 121,000 members.
Financial services sector grows for third quarter in a row

4 Apr 2011

Business volumes grew across all sectors, apart from banking and finance houses.
CML says Osborne has done little to support housing

1 Apr 2011

The Council of Mortgage Lenders says the Budget will do little to improve what it predicts will be a “challenging” year for the housing market.
Mansion tax to replace 50% rate could hit house prices

1 Apr 2011

Brokers fear the Government’s plans to tax high-end properties could stifle property values at the top end of the market.
No direction home

1 Apr 2011

Paul Thomas says industry feeling is the Chancellor’s has missed an opportunity to revitalise the housing market.
Royal London appoints Andrew Palmer as non-executive director

1 Apr 2011

Palmer previously Legal & General group finance director.
TBMC launches buy-to-let exclusives with Chorley BS

1 Apr 2011

Products are two-year discounts at 4.99%.
Pink and BDS networks to merge

1 Apr 2011

All advisers now come under Pink banner.
Mortgage Next and Mortgage Intelligence launch new mortgage club

31 Mar 2011

Club launches on April 4.
EC directive to cost up to £554m

31 Mar 2011

EC also estimates ongoing costs to be in the region of £236m and £290m.
EC: Brokers must provide new standardised information sheet

31 Mar 2011

European Commission responsible lending and borrowing directive sets out new rules.
Lloyds chief to get £4.6m "golden hello"

31 Mar 2011

Antonio Horta-Osorio to receive payment as part of £13.5m total package.
House prices rise 0.5% in March

31 Mar 2011

Average price now £164,751.
680 Jobs axed at Northern Rock in latest round of cuts

31 March 2011

Northern Rock is axing 680 jobs as part of a restructure of the business.
Brokers doubt Metro Bank can deliver on buy to let

31 March 2011

Mortgage brokers believe Metro Bank will not be able to compete with established names in the buy-to-let market due to its direct-only distribution strategy and small number of branches.
No fears at Santander departures

31 March 2011

Brokers hope the raft of executive level resignations at Santander will not hamper the bank or affect its service to customers and intermediaries.
Oil and food price rises could force fiscal rethink

31 March 2011

Rising oil and food prices are the biggest factors that could force the Government to deviate from its fiscal policy, according to the Office of Budget Responsibility.
Osborne says industry wanted 10,000 newbuilds for FTBs

31 March 2011

Chancellor George Osborne says he was advised by the industry against increasing the Government’s new first-time-buyer help beyond 10,000 homes.
Stonebridge tackles lack of mortgage brokers

31 March 2011

Stonebridge Group is running a programme to help appointed representatives train new recruits as mortgage brokers, due to dwindling broker numbers.
Lloyds caps Halifax interest-only LTV at 75%

30 Mar 2011

Lender currently lends to 85% LTV on interest-only.
Platform doubles mortgage lending in 2010

30 Mar 2011

Co-operative Financial services profits up 2.9 per cent from £124.5m to £128.1m.
The Good Mortgage Company searches for buyer

30 Mar 2011

The Good Mortgage Company searches for financial support after Octopus pulls funding.
Osborne says industry advised on FTB scheme size

29 Mar 2011

Chancellor says he was advised by the industry against increasing the Government’s new first-time buyer scheme beyond 10,000 homes.
OBR: Rising oil and food prices biggest threat to fiscal plans

29 Mar 2011

OBR chairman Robert Chote says Treasury did not influence its forecast.
Nationwide increases lending limit to £2m

29 Mar 2011

Nationwide has increased its upper lending limit from £1m to £2m on its fee-free mortgages of up to 75 per cent loan-to-value.
Skipton BS launches new 90% LTV two-year fixed

29 Mar 2011

Additions include two, three and fiver-year 90% LTV fixed rates.
Northern Rock to axe 680 jobs

28 Mar 2011

Bank has entered into formal consultation with unions.
Chorley BS launches 90% exclusive through Mortgageforce

28 Mar 2011

Product is two-year discount at 4.99%.
Metro Bank to break into buy-to-let

25 Mar 2011

Move likely to be in third quarter.
Shared scheme is 'small plaster on a big wound'

25 Mar 2011

Mortgage experts suggest the £250m shared-equity scheme to help first-time buyers raise a deposit will have a limited impact in boosting the housing market.
Boulger slams network panel model

25 Mar 2011

John Charcol senior technical manager Ray Boulger has slammed the network panel model, suggesting that many clients are being denied the best deal.
Northern Rock cuts fixed rates by up to 0.11%

25 Mar 2011

Rates reduced on selected two and three-year fixed rates.
Second hand help

25 Mar 2011

Paul Thomas asks if the Lloyds lend a hand scheme to help first-time buyers raise a deposit goes far enough
Mortgageforce management completes buyout from West Brom BS

24 Mar 2011

Deal was agreed in May last year.
Alt FS director Terry Pritchard resigns

24 Mar 2011

Pritchard says commute to London reason for resignation.
TrigoldCrystal plans for life after collapsed Mortgage Brain merger

24 Mar 2011

Software firm says it plans to invest in products and services.
Santander chief credit officer Iain Laing quits for Nationwide

24 Mar 2011

Chief credit officer Laing expected to start in August.
£1.9M loss for Savills FS arm

24 March 2011

The financial services division of Savills made a loss of £1.9m in 2010 after a loss of £2.9m in 2009.
Closure of C&G adviser arm splits brokers

24 March 2011

Brokers are divided over Lloyds Banking Group’s decision to close Cheltenham & Gloucester for Intermediaries.
Concerns rise as Turner says Basel isn't tough enough

24 March 2011

Lenders are concerned about potential further increases in capital requirements after FSA chairman Adair Turner said Basel III core tier one capital ratios are not high enough.
Fears EU lenders will flout MMR

24 March 2011

The Association of Mortgage Intermed- iaries is warning that European lenders may passport into the UK under the EU’s responsible lending and borrowing directive and avoid the FSA’s mortgage market review if it is too demanding.
Lloyds brings in councils to lend a hand

24 March 2011

Lloyds TSB is offering an extension of its lend a hand scheme which gives first-time buyers access to mortgage up to 95 per cent loan to value with up a fifth of the loan guaranteed by a local authority.
Mortgage affordability fears rebutted

24 March 2011

Brokers have dismissed the FSA’s fears that high loan-to-income mortgages will be unaffordable when interest rates rise, saying affordability calculators take interest rates into account.
Mortgage Brain pulls plug on Trigold merger

24 March 2011

Mortgage Brain has pulled out of its merger with software rival TrigoldCrystal following the Office of Fair Trading’s decision to refer the deal to the Competition Commission.
Santander loses big name as Brittain quits for Lloyds

24 March 2011

Santander UK executive director for retail distribution and intermediaries Alison Britt- ain has quit to join Lloyds Banking Group.
Tomlins leaves Cazenove to join M&G fixed-income team

24 March 2011

M&G Investments has recruited James Tomlins from Cazenove as a fixed-income manager.
Budget 2011: support for mortgage interest payments scheme extended

23 Mar 2011

Chancellor George Osborne says move will help up to 100,000 jobless home owners with interest payments.
Budget 2011: Govt confirms £250m scheme to help first-time buyers

23 Mar 2011

Move will help up to 10,000 FTBs raise a deposit for a home.
MPC trio continue call for base rate increase

23 Mar 2011

Adam Posen only member to call for QE increase.
Sentance says inflation could rise above 5% this year

22 Mar 2011

MPC member warns failure to take timely monetary policy action risks a more abrupt interest rate rise in the future.
Mortgage Brain backs away from Trigold merger

22 Mar 2011

The OFT believed deal would affect competition and innovation in sector.
Northern Rock returns to securitisation market

22 Mar 2011

State-backed bank planning to re-enter the securitisation market for the first time since receiving its Government bailout.
Santander intermediary director leaves for Lloyds Banking Group

22 Mar 2011

AfI managing director Alan Matthewson assumes Brittain’s role on temporary basis.
M&G hires James Tomlins as fixed income manager

22 Mar 2011

Tomlins joins on June 20.
FSA bans mortgage broker for £1.5m scam

21 Mar 2011

FSA says defendant lacks “honesty and integrity”.
Yorkshire BS and Norwich & Peterborough in merger talks

18 Mar 2011

Spokeswoman says deal is not certain.
Mortgage fraudsters jailed for 7 years

18 Mar 2011

Two men jailed for £7m mortgage fraud and attempted £12m VAT fraud.
L&G launches exclusive fixed rate range with Cambridge BS

18 Mar 2011

Rates start from 3.49 per cent.
Gross mortgage lending stagnant in February

18 Mar 2011

£9.5bn gross lending in February.
OFT refers Mortgage Brain-TrigoldCrystal merger to Competition Commission

17 Mar 2011

Mortgage Brain chief executive Mark Lofthouse “disappointed” by OFT’s decision.
Mortgageforce in referral deal with Glasgow Solicitors Property Centre

17 Mar 2011

Brokerage awaiting FSA approval to finalise MBO.
Savills' financial services arm reports £1.9m loss

17 Mar 2011

Group pre-tax profit up 173% from £13.5m to £36.8m.
Bank rate at 0.5% reaches two-year mark

17 March 2011

The Bank of England bank rate has been held at 0.5 per cent for the 24th month in a row and quantitative easing stays at £200bn.
BSA looks to Sutherland for diversity help

17 March 2011

The Building Societies Association says it hopes former Stroud & Swindon Building Society chief executive John Sutherland will champion the need for diversity in his new role as a senior adviser to the FSA.
Good Rock loses £232m but pays out £13m bonuses

17 March 2011

Northern Rock’s “good bank”, Northern Rock plc, made a loss of £232.4m in its first year of trading since the business was split in two in January 2010.
Regulator to order 140 skilled persons reports

17 March 2011

The FSA will force around 140 firms to hire auditors to conduct a skilled persons report in 2011/12.
Turner warns Basel III does not go far enough

16 Mar 2011

Turner says ideal capital requirements would be between 15% and 20% of risk weighted capital.
BSA urges Government to make stamp duty exemption permanent

16 Mar 2011

BSA also calls for Northern Rock remutualisation ahead of next week’s Budget announcement.
Yorkshire BS reduces direct fixed rates by up to 0.5%

16 Mar 2011

Building society reduces 90% LTV fixes by up to 0.4% for direct customers only.
Jim Dunn appointed CML Scotland chairman

11 Mar 2011

Dunn takes over from Lloyds Banking Group head of housing development Douglas Cochrane.
House purchase lending down 26% in January

11 Mar 2011

Value of purchase lending down from £5.7bn to £4.2bn.
Soldier of misfortune

11 Mar 2011

The armed forces are at a disadvantage when it comes to securing a mortgage. Paul Thomas asks if more can be done to get lenders to service this group
Base rate held at 0.5% and no more QE

10 Mar 2011

Second anniversary of record-low base rate.
FSA appoints John Sutherland as building societies adviser

10 Mar 2011

Sutherland has 36 years experience in retail banking.
Deposit should not be barrier to accessing mortgage finance, say MPs

10 Mar 2011

75% of MPs say those with stable income but not 10-20% deposit should have access to mortgage finance.
Connells launches exclusive 90% LTV mortgage with NatWest

10 Mar 2011

Connells Group has launched a new 90 per cent loan-to-value mortgage exclusive to NatWest Intermediary Solutions.
Lender looking at return to release

10 Mar 2011

Retirement Plus is considering a return to the equity-release market while Hodge Lifetime is looking to boost lending and New Life Mortgages is to enter the home-reversion sector.
Aviva market share on rise

10 March 2011

Moss: ’Strengthened the balance sheet’
Chadney Bulgin buys Pensions & Wealth

10 March 2011

Chadney Bulgin has acquired Berkshire-based advice firm Pension & Wealth Planning for £1.2m as part of its acquisition drive.
Clydesdale and Yorks reject watchdog's verdict over loan blunders

10 March 2011

Consumer Focus has called on the FSA to take enforcement action against Clydesdale and Yorkshire Banks unless they stop pursuing customers for shortfalls relating to miscalculated mortgage repayments.
LSL ready for more buys as profits double

10 March 2011

LSL Property Services says it is well placed for further acquis- itions following profits of £36m in 2010, more than double the £16.6m figure in 2009.
Stonehaven back in equity-release sales

10 March 2011

Stonehaven has returned to the equity-release market after securing a new source of funding a year after it suspended new lending.
Claims firm targets broker mortgage misselling

8 Mar 2011

New service aims to get refunds for customers who believe they were mis-sold mortgages.
Former FSA MD Jon Pain joins KPMG

8 Mar 2011

Former FSA managing director of supervision Jon Pain is to join KPMG in July.
Brokers introduced majority of fraudulent mortgages last year

8 Mar 2011

CIFAS says mortgage fraud up 18% in 2010.
Two-year trackers fall to lowest rate since 1988

7 Mar 2011

However, two-year fixed rates at highest rates in ten months.
FSA urged to take action on Clydesdale and Yorkshire Banks

4 Mar 2011

Clydesdale and Yorkshire Bank chasing customers for shortfall relating to miscalculated repayments.
Platform to remove products due to high demand

4 Mar 2011

New selection of two-year fixed and trackers available next Tuesday.
Abbey for Intermediaries introduces lending policy changes

4 Mar 2011

Self-employed income can now be proved with accountants letter for loans under 90% LTV.
Santander FSCS admission

4 Mar 2011

Santander has admitted it does not know if its structured product customers are covered by the Financial Services Compensation Scheme.
Chadney Bulgin acquires pensions specialist

4 Mar 2011

Pension & Wealth Planning name to remain.
House prices down 0.9 per cent in February

4 Mar 2011

Average price now £162,657.
Stonehaven in equity release return - others set to follow

4 Mar 2011

Lender suspended new lending in March last year.
Cable looks to remove barriers for small businesses

4 Mar 2011

Business secretary Vince Cable says he will look to remove barriers for small businesses in an attempt to boost the economy.
Bad practice

4 Mar 2011

Experts say DB Mortgages’ irresponsible lending was the side-effect of a market too willing to sacrifice standards for a bigger share. Paul Thomas reports
Savills launches exclusive auction finance bridging product

3 Mar 2011

Savills Private Finance has launched an exclusive bridging product aimed at property auction finance.
Aviva life and pensions sales up 16% in 2010

3 Mar 2011

Pre-tax profits up 35% to £2.44bn.
AMI says advice should be default for most borrowers

3 March 2011

The Association of Mortgage Intermediaries is calling for mortgage advice to be mandatory for most consumers, particularly first-time buyers, credit- impaired borrowers and those borrowing into retirement.
FSA should not decide on lending past retirement

3 March 2011

John Charcol senior technical manager Ray Boulger is calling on the FSA to be less prescriptive over lenders grant- ing a mortgage to borrowers where the loan extends past the state pension.
'Merlin misses out mortgages due to debt fear'

3 March 2011

Ward: ’Asset bubble’
Rock offering 90% LTVs for first-timers

3 March 2011

State-backed bank Northern Rock has launched a range of 90 per cent loan-to-value mortgages aimed at first-time buyers.
Stephen Knight quits due to illness

3 March 2011

Portillion chief executive Stephen Knight has stepped down from his position with immediate effect after being diagnosed with a brain tumour.
Yorkshire triples lending and boosts profits

3 March 2011

Yorkshire Building Society tripled its mortgage lending last year to £2.8bn from £936m in 2009.
Skipton BS to offer 95% LTV mortgage through Connells

2 Mar 2011

Product is two-year fixed at 6.49 per cent.
LSL looks to further acquisitions as profits increase

2 Mar 2011

Group pre-tax profits of £25.8m in 2010, up from £17m in 2009.
90 staff to leave HML following GMAC account loss

2 Mar 2011

There are 36 compulsory redundancies and 54 voluntary redundancies.
Ex-Goldman Sachs director charged with insider trading

2 Mar 2011

Rajat Gupta alleged to have leaked details learnt at Goldman board meetings.
'FSA staff who dealt with bank risk were too junior'

2 Mar 2011

Bank of England governor Mervyn King says that FSA staff who were responsible for challenging banks’ risk-taking strategies were too junior for the role.
Hector Sants to defend RDR in front of MPs

1 Mar 2011

Sants will face the Treasury select committee next week.
Crown Mortgage Management hires new finance director

1 Mar 2011

Andrew Doyle has over 25 years experience in financial services.
Bank chiefs believe FSA staff "too junior", says King

1 Mar 2011

Bank of England governor Mervyn King says new regime will look to address this problem.
Coventry BS responsible for 17% of building society mortgage advances

1 Mar 2011

CBS reports pre-tax profit of £100.6m.
Barclays set to acquire Egg credit card assets

1 Mar 2011

Egg has around 1.15m credit card accounts with £2.3bn outstanding credit.
House prices up 0.2% in January

28 Feb 2011

Prices up 0.9% on annual basis, says Land Registry.
CML director general Michael Coogan to stand down

28 Feb 2011

Coogan has been in role since December 1996.
CHL Mortgages appoints new finance director

28 Feb 2011

Sunny Lo previously held the post six years ago before leaving the lender.
Northern Rock to offer 90% LTV mortgages

28 Feb 2011

Lender has not offered above 85% LTV since Government bailout.
Compulsory advice could benefit some borrowers, says AMI

25 Feb 2011

CML and Imla believe borrowers should have a choice.
The Mig society

25 Feb 2011

The Government wants to use Mig to spur lenders to help more first-time buyers, reports Paul Thomas
Yorkshire BS reports £115m pre-tax profit in 2010

24 Feb 2011

Building Society also triples mortgage lending year-on-year.
Aegon Asset Management is to introduce a multi-asset fund aiming for an annual return of 10 per cent over a three-year period.

24 February 2011

Aegon Asset Management is to introduce a multi-asset fund aiming for an annual return of 10 per cent over a three-year period.
Aegon multi-asset fund aims for 10% annual return

24 February 2011

Aegon Asset Management is to introduce a multi-asset fund aiming for an annual return of 10 per cent over a three-year period.
Fidelity China special sits trust C-share offer brings in £166m

24 February 2011

Fidelity International’s China special situations investment trust, managed by Anthony Bol-ton, has raised a maximum £166.25m through a C-share offer.
Halifax SVR blunder could cost £500m

24 February 2011

Lloyds Banking Group has struck a deal with the FSA to undertake a review of past Halifax mortgage contracts which could cost it up to £500m.
Informed Choice scoops best media IFA award

24 February 2011

Informed Choice has been named best IFA firm at the Unbiased.co.uk 2011 media IFA of the year awards.
Mig will not aid FTBs unless FSA relaxes rules on capital

24 February 2011

The Building Societies Association says mortgage indemnity insurance guarantees will not encourage lenders to lend at higher loan to value ratios unless the capital requirements for this type of lending are relaxed.
More sub-prime firms face FSA action after £840k fine for DB

24 February 2011

Brokers are warning that the FSA could fine more sub-prime lenders for inadequate lending practices, following the £840,000 fine levied on DB Mortgages.
Which? calls for sale and rentback crackdown as it reports two firms

24 February 2011

Which? has reported two sale and rentback firms to the FSA for providing inadequate advice.
Brain tumour forces Portillion chief exec Stephen Knight to step down

23 Feb 2011

Chief finance officer David Hill replaces Knight as chief executive.
Rob Clifford joins Direct Valuations board

23 Feb 2011

Clifford previously Virgin Money managing director.
OneSavings Bank chief exec Mike Lazenby steps down

23 Feb 2011

Lazenby with Kent Reliance for 11 years.
TenetLime reports £568k pre-tax loss

22 Feb 2011

Network says loss due to decreased profit margin and increased operating expenses.
Skipton Building Society reports 94% profit increase

22 Feb 2011

2010 pre-tax profit £35m, up from £18m in 2009.
Nationwide increases fixed rates in reaction to rising swap rates

22 Feb 2011

Lender increased certain fixed rates by 0.3%.
Which? reports two sale-and-rent back firms to FSA

22 Feb 2011

Which? calls for FSA clamp down on sale-and-rent back firms after uncovering poor advice in the sector.
Lloyds to conduct £500m mortgage past business review

21 Feb 2011

Lloyds Banking Group has agreed with the FSA to undertake a review of past mortgage contracts which could cost the lender up to £500m.
Largest lenders only providing 29% of top 500 mortgages

21 Feb 2011

“Biggest is not always best”, says Moneyfacts.co.uk.
Compliance director Ferris-Caley leaves Personal Touch

18 Feb 2011

Personal Touch Financial Services director of compliance Fiona Ferris-Caley has left the network after a restructure of operations.
Lloyds disappointed with delay to new approved persons regime

18 Feb 2011

Sales director of mortgages Mike Jones says FSA should not have delayed new AP regime, despite the extra pressure this would have placed on lenders.
Gross mortgage lending down 13% in January

18 Feb 2011

Gross lending up 5% on January 2010, says CML.
Barclays in talks to sell commercial service arm

18 Feb 2011

Barclays is in talks to sell its commercial mortgage servicing arm, Barclays Capital Mortgage Servicing, Money Marketing understands.
In search of a plan B

18 Feb 2011

Lenders continue to shy away from offering high-LTV mortgages and Paul Thomas asks if top-up loans or higher lending charges could get the market moving
'Indemnity cover key to securing FTB loans'

18 Feb 2011

Leading industry figures have agreed that mortgage indemnity insurance has a key role to play in persuading banks to lend to first-time buyers.
Abbey for Intermediaries launches new fixed and tracker deals

17 Feb 2011

Lender also reducing rate on a four-year fixed.
Unbiased.co.uk announces media IFA of the year winners

17 Feb 2011

Informed Choice wins “best IFA firm”.
Barclays suing Savills in £12m loan case

17 February 2011

Barclays Private Clients International and Barclays Bank are suing Savills Private Finance, valuer Stocker & Roberts and two law firms for losses incurred on mortgage business that could amount to £12m.
Leeds BS launches mortgage savings product for FTBs

16 Feb 2011

Product encourages saving by offering double interest when money used for LBS mortgage.
Repossessions to fall in first half of 2011

16 Feb 2011

But HML says repossessions will rise in second half of 2011.
RDR exam structure "not fit for purpose", says threesixty

15 Feb 2011

Firm has called for review of exam structure.
Syndicate Asset Management appoints Mark Cheshire as chief executive

15 Feb 2011

Cheshire appointed interim CEO in December following resignation of Jonathan Freeman.
Long-term care paraplanning service launches

15 Feb 2011

The Care Fees Advice Agency has launched a specialist long-term care paraplanning service for IFAs.
David Child appointed as Baigrie Davies LifeSearch chairman

14 Feb 2011

Baigrie Davies LifeSearch has appointed David Child as non-executive chairman.
Brokers want lenders to offer top-up mortgages

11 Feb 2011

Brokers have called on lenders to consider top-up mortgages as a way of helping people without big deposits.
Ward: 'Mortgages could take 10 years to rally'

11 Feb 2011

Home Funding chief executive Tony Ward fears the mortgage market could take 10 years to recover because there will be no significant activity in the securitisation market for up to five years.
Which? launches super-complaint against "excessive" card charges

11 Feb 2011

Which? to campaign against companies charging excess fees for card payments.
Should all mortgage advice be compulsory?

11 Feb 2011

Some fear a fallout from an EU ban on non-advised sales of mortgages, reports Paul Thomas.
Should the Government scrap mortgage stamp duty?

11 Feb 2011

New director of the Institute for Fiscal Studies Paul Johnson says stamp duty on housing “gums up” the market and should be scrapped.
Halifax reduces rates on two-year fixes

10 Feb 2011

Lender also launches new two-year fixes.
Base rate held at 0.5%

10 Feb 2011

Quantitative easing held at £200bn.
New ASA powers will result in dual regulation

10 Feb 2011

The Advertising Standards Authority’s new powers to regulate advisers’ online promotions will result in dual regulation, according to Finance & Technology Research Centre director Ian McKenna.
Repossessions fall by 24% in 2010

10 Feb 2011

There were 36,300 repossessions from first-charge lenders in 2010.
1St Exchange buys website builder Screen Business

10 February 2011

Technology provider 1st Exchange & N4 has acquired Screen Business, which supplies websites and internet applications for IFAs and providers.
Aegon wealth portfolio offers guide to bond tax

10 February 2011

Aegon has launched a new opt-ion on its offshore investment bond, the wealth management portfolio, which allows UK customers moving to Spain, France or Italy to benefit from tax deferral and ensure that their bond is tax-compliant.
Santander small business lending boosts profits

10 February 2011

Santander saw an 11 per cent increase in UK profits in 2010, up from £1.5bn in 2009 to £1.7bn.
Mortgage rates hit six-month high

8 Feb 2011

Moneyfacts.co.uk says lenders passing increasing funding costs to borrowers.
Leadbay founder sets up new lead generation website

8 Feb 2011

Simon Baker founded Leadbay in 2004 and left in 2008.
1st Exchange acquires website firm

8 Feb 2011

All Screen Business employees will transfer to new organisation.
Kensington launches new buy-to-let range

7 Feb 2011

Rates start from 5.24 per cent.
House prices up 0.8% in January

4 Feb 2011

Average house price now £164,173.
Two-thirds of applicants seeking fixed rates

4 Feb 2011

Two-thirds of applications received by Abbey for Intermediaries in a recent week were for fixed-rate mortgages, showing borrowers are looking to fix ahead of a rise in bank rate.
A chorus of disapproval

4 Feb 2011

Paul Thomas reports on a combative reaction of FSA proposals to take regulatory control of products
AMI predicts flat mortgage market in 2011

3 Feb 2011

Trade body says buy-to-let finance to improve this year.
Europe mulling compulsory mortgage advice

3 Feb 2011

European Commission is considering whether to make advice compulsory for all mortgage sales or for certain types of mortgage customers.
Santander could take on Barclays advisers

3 Feb 2011

Santander is on a recruitment drive to add to its team of 1,000 in-house multi-tied advisers and says it will consider hiring Barclays advisers.
Broker sues FSA over cancelled permission

3 February 2011

Mortgage broker Adam Lucas is suing the FSA for up to £1.6m over the regulator publishing a decision notice cancelling his permission to operate as a broker.
Homeowners protected on book sales

3 February 2011

The Government has announced additional protection for homeowners whose mortgages are sold to an unregulated firm.
Lloyds offers negative equity mortgage deal

3 February 2011

Brokers have welcomed a scheme from Lloyds Banking Group that helps borrowers in negative equity move home.
Paragon Mortgages launches new product range

2 Feb 2011

Products first to be introduced since Paragon’s return to new lending.
Nationwide closes 13 branches

2 Feb 2011

Around 100 staff work in the branches.
Nationwide in investment advice tie-up with L&G

1 Feb 2011

Mutual says 150 jobs will be created as it looks to become “leading high street provider of financial advice”.
House prices down 0.1% in January

1 Feb 2011

Nationwide says average price now £161,602.
"eBay style" mortgage lead auction site launched

1 Feb 2011

Lead Magpie allows intermediaries to bid for mortgage leads.
HMRC warns businesses over tax registration

1 Feb 2011

HM Revenue & Customs has warned business owners they could be fined if they fail to register for a particular tax or pay tax on undeclared income.
Norwich & Peterborough BS increases LTVs

31 Jan 2011

Selection of discounted variable rates loans now available 85% LTV.
Two former Leadbay employees set up new lead provider

31 Jan 2011

Jonathan Barrett and Andrew Rosser left Leadbay in May 2010.
House prices fall 0.2% in December

31 Jan 2011

Land Registry says average price now £163,814.
House prices up 91% in past decade

31 Jan 2011

Average house price rose from £86,095 in late 2000 to £164,310 at end of 2010.
OFT taking action against 15 debt management firms

28 Jan 2011

35 debt management firms have surrendered consumer credit licences.
The Apprentice contestant handed suspended sentence for fraud

28 Jan 2011

Christopher Farrell given nine month suspended sentence after pleading guilty to 4 counts of fraud.
Base value

28 Jan 2011

Most views are centred on when the bank rate will rise rather than if and how the market will react, with a flurry of activity predicted. Paul Thomas reports
Hoban is urged to consider criticism

28 Jan 2011

Brokers have welcomed last week’s debate in the House of Commons on the MMR but are disappointed by Treasury financial secretary Mark Hoban’s defence of the proposals.
Mortgage brokers make wealth move

28 Jan 2011

Mortgage brokers are increasingly moving into wealth management to supplement their income instead of more traditional options such as bridging loans and will-writing.
Precise Mortgages launches near prime range

27 Jan 2011

Rates start from 4.79%.
IFAs remain most trusted figures in financial services, says survey

27 Jan 2011

However, score fell from 75 out of 100 to 65 over year.
Lloyds launches scheme for borrowers in negative equity

27 Jan 2011

Deal is direct-only but Lloyds consider distribution through brokers if successful.
Broker bans reach 100 as five more are kicked out

27 January 2011

The FSA has banned five mortgage intermediaries and fined one of them £104,000, bringing the total number of mortgage intermediaries banned since December 2006 to 101.
Virgin wants public interest takeover test

27 January 2011

Virgin Money chief executive Jayne-Anne Gadhia believes competition would be safeguarded if there were a public interest test applied to lenders wanting to acquire competitors.
HML appoints new director of business development

26 Jan 2011

Kati Tyler joins from Chartis Insurance UK.
Excessive regulation risks damaging economic recovery, says BBA

26 Jan 2011

BBA chairman Marcus Agius warns Chancellor George Osborne.
Precise Mortgages appoints three new BDMs

26 Jan 2011

Precise Mortgages has added three new business development managers to its sales team.
BM Solutions launches two-year tracker and increases LTVs

25 Jan 2011

Tracker has rate of 4.75% at 75% LTV.
FSA bans five mortgage brokers

25 Jan 2011

101 mortgage intermediaries banned since December 2006.
Osborne forced to withdraw bank bonus plans

25 Jan 2011

Withdrawal due to pressure from Liberal Democrats.
LV= appoints Iain Clark as director of protection

25 Jan 2011

Clark joins from Legal & General.
Lenders report pressure to adopt MMR, says Boulger

24 Jan 2011

Boulger also slams “draconian” interest-only proposals.
Aldermore adds four new managers to commercial mortgages team

24 Jan 2011

Two appointed commercial mortgage managers and two lending managers.
Barclays set to unveil details of bonus payment overhaul

24 Jan 2011

Large portion of its bankers’ bonuses to be paid in new type of bonds.
Lender fees complicating mortgages, says Which?

22 Jan 2011

Lenders charging total of 39 different types of fee.
Gross mortgage lending drops 6% in December

21 Jan 2011

£11bn figure is 18% down on December 2009.
Ad drive wanted to boost poor FTB credit scores

21 Jan 2011

Mortgage experts are calling for the Government and the FSA to set up a national ad campaign to help first-time buyers increase their chances of getting a mortgage.
RBS in talks to quit Asset Protection Scheme

21 Jan 2011

Bank expected to quit scheme by end of year.
Credit crunch

21 Jan 2011

The reliance of lenders on automatic credit-scoring systems is adding to the woes of those looking to purchase their first property, says Paul Thomas
Coventry BS cuts rates and increases LTVs

20 Jan 2011

Two products’ LTV increased by 15 per cent.
Banks fight Chancellor's plans for bonus disclosure

20 Jan 2011

Negotiations on bonus disclosure ongoing and deal expected to complete next week.
Lloyds is confident on broker share

20 Jan 2011

Lloyds Banking Group sales director of mortgages Mike Jones has dismissed his predecessor’s claim that the bank’s share of lending through intermediaries will fall to 50 per cent.
Nationwide brings £2bn of HML admin in house

20 January 2011

Nationwide Building Society is transferring the admin of two mortgage books worth a combined £2bn in house from HML following its acquisition of the Cheshire and Derbyshire building societies.
Paragon shelves fixed loans

20 January 2011

Buy-to-let lender Paragon has temporarily withdrawn both of its two-year fixed-rate products due to rising swap rates.
Santander slams FSA income rules

20 January 2011

Santander UK chief executive Ana Patricia Botin says the FSA’s proposals on income verification would affect the bank’s ability to be a “challenger” to the biggest UK banks.
Commercial finance broker trade body appoints new chairman

19 Jan 2011

Kevin Jones has been NACFB deputy chairman since 2009.
Less than 1 in 10 families have adequate financial protection

19 Jan 2011

Aviva says 61 per cent of families do not have basic life insurance.
Banking Commission chair sends warning over break-ups

19 Jan 2011

Sir John Vickers to outline measures designed to ring fence activities of “universal banks”.
Hoban defends MMR in Commons debate

18 Jan 2011

Treasury financial secretary Mark Hoban called MMR “essential” to help protect customers and lenders.
Friends Provident relocates head office

18 Jan 2011

Move follows parent company Resolution’s acquisition of AXA’s life business.
Govt bank sell-off should be in public interest

18 Jan 2011

Virgin Money chief executive Jayne-Anne Gadhia says any deal should consider competition.
Santander says income verification rules will hit market share

18 Jan 2011

Bank wants intermediaries to continue to be responsible for income verification checks.
Northern Rock seeks out buyers

18 Jan 2011

Sale could generate around £1.5bn.
Taxpayers should not bail out banks, says BoE

18 Jan 2011

Paul Tucker says banks should be allowed to fail without taxpayers having to foot the bill for their rescue.
Skipton BS launches new fixed and tracker range

17 Jan 2011

Fixed rates start from 2.98%, trackers start from base rate plus 2.28%.
Aldermore appoints two new senior commercial lending managers

17 Jan 2011

Both report to managing director for commercial mortgages Rob Lankey.
Nationwide takes £2bn mortgage book admin in-house

17 Jan 2011

Book is second to be taken from HML in last two months.
Base rate increase could damage recovery, says Ernst & Young

17 Jan 2011

Economic forecaster says inflation rise due to temporary influences.
Paragon pulls 2-year fixed rate products due to rising swap rates

17 Jan 2011

Buy-to-let lender Paragon Mortgages has temporarily withdrawn both its two-year fixed rate products.
FSA hits out at MMR criticism

14 Jan 2011

Regulator says it is not “steam rolling” through MMR.
L&G chief wants lenders to stop cutting proc fees

14 Jan 2011

Legal & General mortgages director Ben Thompson has urged lenders to stop cutting procuration fees to avoid further damaging relations between product providers and intermediaries.
Lenders hit back at Cameron criticism

14 Jan 2011

Lenders have slammed Prime Minister David Cameron’s claims that they are holding back the housing market by lending too cautiously.
Malone call to treat FTB credit scores individually

14 Jan 2011

PMS executive chairman John Malone says credit-score criteria punishes first-time buyers and has called on lenders to consider applications from FTBs on an individual basis.
November purchase lending down 15% year-on-year

14 Jan 2011

House purchase lending in November unchanged from month before.
The search for liquidity

14 Jan 2011

Paul Thomas reports on the predicament facing banks as the special liquidity scheme is wound up
OFT invites Mortgage Brain and TrigoldCrystal merger feedback

13 Jan 2011

Decision will be made by March 8 whether there are any competition issues.
No more QE and base rate held at 0.5%

13 Jan 2011

All time low base rate held for 22nd month.
Abbey for Intermediaries reduces tracker rates

12 Jan 2011

Three tracker products reduced by 0.11%.
TMW launches 4.69% two-year fixed rate mortgage

12 Jan 2011

Mortgage available up to 75% LTV.
Platform launches new product range

12 Jan 2011

New buy-to-let products include 4.99% two-year fixed up to 60% LTV.
Financial services activity grows for second consecutive quarter

10 Jan 2011

Slower rate of growth expected over the next three months.
EU GDP grows 0.5% in Q3 2010

7 Jan 2011

Euro area GDP grows 0.3% in same period.
Brokers urged to link with estate agents

7 Jan 2011

Emba group sales and marketing director Mike Fitzgerald says mortgage brokers should form partnerships with estate agents in the coming year to cope with the economic climate.
Shapps' call sparks fears at Government house price control

7 Jan 2011

Mortgage brokers are wary about the controls that could be used by the Government to try to bring about housing market stability.
Coventry launches two new buy-to-let deals

7 Jan 2011

Products have no arrangement fees.
Nigel Stockton to become Countrywide financial services chief

7 Jan 2011

Stockton replaces Countrywide Principal Services managing director Alan Snowball, who is retiring.
FSA wants power to block hostile bank takeovers

7 Jan 2011

Lord Turner says aggressive takeovers disrupt financial stability.
Brokers back bank rate alert

7 Jan 2011

Mortgage brokers have welcomed the Bank of England’s warning to homeowners that it is looking to raise bank interest rates to 5 per cent.
Mortgages: What will the next 12 months have in store

7 Jan 2011

“This year is going to be a year when brokers earn more than they did in 2010 but they are going to have to go back to speaking to their clients.”
Lenders expect to tighten credit scoring criteria in coming quarter

6 Jan 2011

Bank of England report says criteria tightened in second quarter of 2010.
HML hires former Virgin Money director of banking

6 Jan 2011

Ian Cornelius joins as director of savings and unsecured lending.
RBS and Lloyds lending targets 'a waste of time'

6 Jan 2011

Brokers says formal lending targets on the banking pair do not need to be renewed.
Prime Minister says lenders are too cautious

6 Jan 2011

Cameron says housing market needs to get moving again.
FOS may publish final decisions as it strives for transparency

6 January 2011
Trigold brand to continue as Brain buys sourcing rival

6 January 2011

TrigoldCrystal and Mortgage Brain’s sourcing systems will run alongside each other for at least the next five years following Mortgage Brain’s acquisition of the rival technology firm.
Mortgageforce reports £321k loss for 2009/10

5 Jan 2011

Revenue fell by 19% and gross profit by 58%.
Xit2 sold to TPG Capital

5 Jan 2011

Xit2 parent sells entire information product division.
Housing minister pledges to remove barriers for self-builders

5 Jan 2011

Shapps calls on National Self Build Association to help boost self-build numbers.
NatWest launches new 90% LTV mortgage

5 Jan 2011

Lender also reducing rates on number of products.
Estate agents urge housing minister to apply pressure on MMR

5 Jan 2011

Shapps meets FSA chief executive Hector Sants this week.
Barclays increases LTV to 80% on great escape remortgage loan

5 Jan 2011

Lender increased LTV from 70% to 75% in November.
Government looks to stem dramatic house price increases

4 Jan 2011

Grant Shapps says there are Government levers available to influence housing market.
FSA cancels Hemdale Financial Management's permissions

23 Dec 2010

Permissions cancelled for repeatedly failing to comply with regulatory requirements.
Gross lending in November drops 13.5% year-on-year

23 Dec 2010

Number of mortgage approvals up on October’s figure.
Aifa to conduct strategic review member survey

22 Dec 2010

Details of the survey will be confidential and not published.
Apprentice contestant admits mortgage fraud

22 Dec 2010

Christopher Farrell to be sentenced January 28.
FOS considers publishing final decisions

22 Dec 2010

FOS about to consult on how it can improve transparency in decision process.
Asset Protection Scheme has not encouraged lending, says NAO

21 Dec 2010

RBS and Lloyds Banking Group hit mortgage targets but £30bn shortfall for business lending.
FSA investigates Swift Group for arrears handling practices

21 Dec 2010

OFT also investigating Swift Advances for second charge lending practices.
RICS: House prices to fall 2% in 2011

21 Dec 2010

RICS says transactions to remain flat but repossessions to decline.
Lending drops to lowest November total since 2000

20 Dec 2010

£11.1bn advanced in November down 5% on October’s figures.
Moneygate gives up on Clarkson Hill deal

20 Dec 2010

Moneygate is welcoming applications for former CHG advisers.
Mortgage Brain set to acquire TrigoldCrystal

20 Dec 2010

Mortgage Brain has agreed terms to acquire TrigoldCrystal in a deal which could total £9.9m.
OFT warns doorstep lenders to improve practices

20 Dec 2010

Half of all licence applications failed to satisfy OFT’s requirements.
Sir Keith Mills sues Coutts for £8m over AIG bonds

20 Dec 2010

Mills to launch law suit against Coutts over its sale of AIG Premier bonds, the Sunday Times reports.
Green shoots offer hope for the mortgage market

17 Dec 2010

Paul Thomas says a semblance of order has been restored to the mortgage market and new entrants have brought some optimism for next year.
Britain exempt from future bailout contributions

17 Dec 2010

New bailout fund to be created for troubled eurozone states.
Deposit guarantee scheme increased to £85,000

17 Dec 2010

Further changes surround fast payment rules.
HML job losses loom after GMAC-RFC account loss

17 Dec 2010

HML unsure how many people will lose their job at present.
Sovereign debt in Europe could threaten UK banks, BoE warns

17 Dec 2010

The BoE also says low government bond yields remains one of the main sources of risk to the financial system.
GMAC-RFC taking loanbook admin in house

16 Dec 2010

GMAC-RFC will transfer the administration of its mortgage assets from third-party servicer HML to an in-house servicing team in 2011.
FSA opens 48 fraud cases against mortgage brokers

16 Dec 2010

Regulator has opened mortgage fraud cases against 48 brokers since July.
Nationwide for Intermediaries to stop guarantor deals

16 Dec 2010

Brokers instead have access to the deals through TMW.
Culhane quits Oakwood and moves to Oz

15 Dec 2010

Oakwood Global Finance chief executive Mike Culhane has left the business and moved to Australia to become the executive chairman of specialist lender Pepper Homeloans.
FSA fines and bans two chartered accountants

15 Dec 2010

Boiler room scam involved at least 1,262 potential investors.
Leeds BS launches direct-only two-year discount at 2.54%

15 Dec 2010

Mortgage available up to 70% LTV.
FSA fines and bans two Pacific Continental stockbrokers

14 Dec 2010

Pair who worked for firm responsible for large IFA FSCS levies fined a total of £100,000.
House prices fall in November, say surveyors

14 Dec 2010

RICS says lack of demand continues to stifle market.
Houses only changing hands once every 20 years, says CML

14 Dec 2010

CML estimates 860,000 property transactions next year - down from 1.6m pre-crisis.
Inflation increases to 3.3% in November

14 Dec 2010

Food, non-alcoholic beverages and clothing main drivers behind the increase.
Repossessions at lowest level since end of 2007

14 Dec 2010

New arrears cases also down 2% in third quarter.
CHL adds £295m buy-to-let portfolio to mortgage book

13 Dec 2010

Lender says not actively searching out similar deals.
Yorkshire BS hires Lloyds' risk director

13 Dec 2010

Richard Wells becomes society’s risk general manager.
Brokers fear further cuts in bank proc fees

10 Dec 2010

Brokers are concerned about the changes some major high-street lenders have made to their procuration fees and fear further reductions could follow.
L&G chief says focus on second-time buyers

10 Dec 2010

L&G mortgages director Ben Thompson says move would stimulate the market.
Mixed reaction over approved regime delay

10 Dec 2010

Trade bodies split on FSA decision to postpone introduction of approved person regime for mortgage brokers.
Concern at TMW not checking income for BTL loans

10 Dec 2010

Brokers have raised concerns about The Mortgage Works not verifying the income of buy-to-let mortgage applicants.
Owner-occupier rates set to fall, says RICS

10 Dec 2010

UK rates fallen by 3% from peak of 71% in 2004.
Remortgaging drops 21% year-on-year in October

10 Dec 2010

Lending for house purchases down 4 per cent from September.
No more QE and base rate held at 0.5%

9 Dec 2010

All time low base rate held for 21st month.
Pensions on the house

9 December 2010

Paul Thomas reports on plans that could see borrowers allowed to use their pension for their mortgage
Govt continues to apply pressure on FSA over MMR

8 Dec 2010

Housing minister says MMR must be “proportionate”.
House prices fall 0.1% in November

8 Dec 2010

Average house price now £164,708.
FSA to contact 49,000 to warn against share fraud scheme

7 Dec 2010

Regulator found list containing 49,000 names thought to be targets of scheme.
Mortgage Options and Andrews Estate Agents set up national mortgage broker

7 Dec 2010

Firm will become AR of Legal & General.
British Chamber of Commerce predicts £50bn more QE by mid 2011

6 Dec 2010

BCC also revised UK’s GDP growth downwards for 2011 from 2.2% to 1.9%.
Leeds BS launches direct-only three-year fix at 3.45%

6 Dec 2010

Customers allowed to pay 10% of capital per year without being charged.
Knitting gibe gives societies the needle

3 Dec 2010

Paul Thomas gets reaction to Lord Turner’s claim that societies should stick to their core markets
City of London Police arrests three in £1m land banking fraud

3 Dec 2010

Cold-calling scheme misleads investors about potential rise in land value.
Mortgage credit conditions loosen in November

3 Dec 2010

E.surv says more mortgages approved and more generous LTV ratios.
Barclays, TMW and Lloyds make proc fee changes

2 Dec 2010

Barclays scraps certain proc fees in alignment strategy while TMW lowers enhanced proc fees.
Halifax rate rise for new loans

2 December 2010

Halifax is increasing its reversion rate for new mortgage customers from January 4.
Reeves picks investment chief to push fund range

2 December 2010

Reeves Investment Management has appointed Mike Sargeant as investment director, with responsibility for developing its range of investment strategies.
Snowdon leaves Aldermore after less than a year

2 December 2010

Aldermore chief executive of residential mortgages Colin Snowdon has left the lender less than a year after joining.
Towergate buys Origen healthcare arm

2 December 2010

Origen has sold its healthcare business to Towergate Healthcare, a trading name of Towergate Underwriting Group.
Abbey for Intermediaries launches new FTB product

1 Dec 2010

Lender has also reduced rates by up to 0.2 per cent.
Former MPC member David Blanchflower calls on Mervyn King to quit

1 Dec 2010

David Blanchflower says King has compromised the Independence of the bank.
House prices fall 0.3% in November

1 Dec 2010

Average house price now stands at £164,351.
Hoban defends "democratic deficit" between Parliament and FSA

30 Nov 2010

Hoban says regulator loses credibility if it is politicised.
NatWest drops interest-only for first-time buyers

30 Nov 2010

All other borrowers allowed interest-only up to 75% LTV.
Tesco Bank becomes CML associate

30 Nov 2010

Lender hopes to enter mortgage market in 2011.
Connells appoints group mortgage services director

29 Nov 2010

Ross Bowen previously headed the group’s mortgage division until summer 2007.
OBR expected to announce stronger than predicted growth

29 Nov 2010

Chancellor to deliver autumn statement today, giving update on state of economy.
Societies could seek private equity deals

26 Nov 2010

Mortgageforce managing director Kevin Duffy says more building societies could look to emulate the deal between JC Flowers and Kent Reliance Building Society by entering into partnerships with private equity firms.
Direct effect

26 Nov 2010

The industry debates whether the latest MMR proposals will lead to more brokers adopting a fee-charging model for direct deals. Paul Thomas reports
Pink buy is impetus for push to the top

26 Nov 2010
Turner tells societies to stick to their knitting

26 Nov 2010

FSA chairman Lord Turner has told building societies to “stick to their knitting” and not extend beyond their core services.
Brokers welcome housing minister's public criticism of MMR

26 Nov 2010

Emba group sales and marketing director Mike Fitzgerald: “I think it is what brokers wanted to hear.”
Housing minister slams FSA's MMR

26 Nov 2010

Housing minister says MMR is “step too far”.
Brokers will beat direct for boosting share

25 November 2010

Barclays intermediary sales director David Finlay says brokers will help lenders increase their share of the mortgage market in the future rather than lenders own direct-to-consumer efforts.
Colin Snowdon leaves Aldermore - Charles Haresnape joins

25 Nov 2010

Chief executive of residential mortgages Colin Snowdon leaves the lender “by mutual consent.”
'FSA never wanted to ban interest-only'

25 November 2010

FSA director of conduct policy Sheila Nicoll says it is not the regulator’s intention to ban interest-only mortgages.
Halifax increases reversion rate for new customers

25 Nov 2010

Existing customers will remain on lender’s current 3.5% SVR.
Innovation is being shunned by lenders

25 November 2010

Countrywide chief executive officer Grenville Turner says lenders are “running scared” of innovation.
MMR plans could see move to fees

25 November 2010

Nationwide Building Society head of intermediary sales Ian Andrew says if the recent proposals in the FSA’s distribution and disclosure consultation paper become rules, more intermediaries could adopt a fee-charging model.
Mortgage Centre IFA links with developer to set up loan deals

25 November 2010

Mortgage Centre IFA has entered into a partnership with property developers the Candy Brothers to offer short-term loans and developer finance.
Osborne seeks Euro ministers' support on bonus disclosure

25 Nov 2010

Chancellor’s decision follows warning Britain would be “mistaken” to implement bonus transparency rules alone.
Securitisation to see rise but stay fragile

25 November 2010

Standard & Poor’s says there will be more securitisation notes issued in 2011 but warns the market will remain fragile.
Walsh set to take over as Wyles says be grateful worst is over

25 November 2010

Lloyds Banking Group managing director of mortgages Colin Walsh has been appointed new chairman of the Council of Mortgage Lenders.
GDP grows by 0.8% in third quarter

24 Nov 2010

Business and finance grew 0.3%.
Irish Govt set to nationalise Bank of Ireland

24 Nov 2010

Irish Govt set to publish four-year austerity plan today.
Origen sells healthcare division to Towergate

24 Nov 2010

Towergate will provide healthcare services to Origen customers as part of agreement.
Paragon Group reports 32% jump in pre-tax profits

24 Nov 2010

Group reported £71.8m for 2010, up from £54.3m the year before.
Reeves Investment Management appoints Mike Sargeant

24 Nov 2010

Sargeant joins as investment director.
Ascentric announces new charging structure

23 Nov 2010

New charges will make it more competitive for advisers to place lower value cases on the platform.
Metro Bank does not rule out distribution through advisers

23 Nov 2010

Chairman says people should be free to choose their distribution channel.
Barclays increases LTV on 'great escape' remortgage deal

22 Nov 2010

Maximum loan-to-value increased from 70 to 75 per cent.
Euro ministers agree Irish bailout package

22 Nov 2010

Ireland is set to receive a bailout package of between £65bn and £75bn after European finance ministers agreed to a bailout yesterday evening.
MMR should have banned non-advised equity release sales, says Chalk

22 Nov 2010

LaterLiving’s Simon Chalk says all sales of equity release should be advised.
Mortgage Centre IFA launches short-term lender with Candy brothers

22 Nov 2010

Lender will offer short-term loans and finance for property developers.
Osborne to water down bank bonus plans

22 Nov 2010

Chancellor concerned pay transparency would put City at disadvantage.
Precise Mortgages launches home owner range

22 Nov 2010

Products only available on capital and interest basis.
Broker barriers are removed

19 Nov 2010

Mortgage advisers will have to make it explicitly clear if they do not advise on direct-only deals but will not be forced to offer a fee option or advise on direct deals to retain independence.
BSA says the FSA has no right to control market

19 Nov 2010

The Building Societies Association says it is not the FSA’s role to determine the shape of the mortgage market or control demand.
'Which? undermining value of advice'

19 Nov 2010

Unbiased.co.uk chief executive Karen Barrett says Which? is undermining the value of advice by providing a free mortgage advice service to its members.
Abbey for Intermediaries brands mortgage brokers high risk

18 Nov 2010

Lender accused of biting the hand that feeds it by putting brokers on list of high risk jobs.
Credit chief says third of Santander lending could be hit by MMR

18 November 2010

Santander chief credit risk officer Iain Laing says up to a third of the bank’s lending could be affected by the proposals in the mortgage market review.
Abbey for Intermediaries set for return to BTL in 2011

18 November 2010

Abbey for Intermediaries is preparing to re-enter the buyto-let market in 2011.
Brokers will still have role on checking affordability

18 November 2010

The FSA says brokers will still have a limited role to play in checking affordability under new mortgage market review regulations that place ultimate responsibility with lenders.
Colin Walsh appointed CML chairman

18 Nov 2010

Lloyds Banking Group managing director of mortgages Colin Walsh will replace Matthew Wyles next year.
Consolidation could bring just four big distributors

18 November 2010

There could be as few as four big distributors left in the mortgage market in a few years, according to Platform director of business development Lee Gladwell.
Fighting fraud can help thwart terrorism

18 November 2010

PMS executive chairman John Malone says intermediaries can play their part in preventing terrorism by being aware of fraud in mortgage applications.
FSA says ban on interest-only is a "myth"

18 Nov 2010

FSA director of conduct policy Sheila Nicoll says FSA has no intention to ban interest-only mortgages.
Funding challenge faces £2m advice ad campaign

18 November 2010

The Association of Mortgage Intermediaries estimates that a national advertising campaign to promote the value of mortgage advice would cost around £2m a year.
MMR will add to the demand for advice

18 November 2010

Legal & General director of housing and external affairs Stephen Smith believes that the FSA’s mortgage market review will create a greater demand for advice.
Panel clash over whether tied brokers can be called 'advisers'

18 November 2010

London & Country mortgage director Pat Bunton says tied brokers should not be allowed to use the “adviser” label because they only look at a limited product range.
Regulation is costing mortgage brokers £20,000 a year, says Sinclair

18 November 2010

Association of Mortgage Intermediaries director Robert Sinclair says regulation costs mortgage brokers around £20,000 a year.
Wait till you get complaints, Sinclair warns Which?

18 November 2010

Association of Mortgage Intermediaries director Robert Sinclair has expressed concern over Which?’s entry into the mortgage advice market.
FSA outlines MMR distribution changes

16 Nov 2010

Firms will have to disclose their direct deal strategy and use either the independent or restricted badge.
Abbey for Intermediaries plans buy-to-let entry

15 Nov 2010

Lender looking to target amateur landlords.
Barclays to give automatic progress emails on Woolwich applications

15 Nov 2010

Brokers automatically signed up to email service when submit Woolwich applications.
FSA should not determine shape of mortgage market

15 Nov 2010

Building Societies Association warns the MMR will affect competition and diversity and says regulator is taking on the Government’s role.
Leeds BS raises £250m through covered bond issue

15 Nov 2010

Bond issue first of its type in UK since June 2007.
Which? could widen scope of advice service

12 Nov 2010

Which? says it has not ruled out offering further financial advice services following its decision to become a mortgage adviser.
Brokers hit out at Which? advice service

12 Nov 2010

Mortgage brokers have slammed Which?’s move to offer a new mortgage advice service.
FSA sets out brokers' limited role in checking affordability

12 Nov 2010

Regulator says brokers still have a role in affordability checks.
Mortgage advice campaign would cost £2m a year

12 Nov 2010

Aldermore’s Colin Snowdon says non-bank lenders would help fund such an initiative.
Which? could widen scope of advice service

12 Nov 2010

Consumer body does not rule out offering other financial advice services if members call for it.
RBS slumps to third-quarter loss of £1.4bn

11 November 2010

Royal Bank of Scotland made a loss of £1.4bn in the three months to the end of September, significantly down on the taxpayer-backed bank’s second quarter profit of £1.2bn.
AMI wary over Which? entering advice market

10 Nov 2010

Director Rob Sinclair draws parallels with Equitable Life’s “no commission” marketing strategy.
AMI: Regulation costs brokers £20,000 a year

10 Nov 2010

Ami director Robert Sinclair says he cannot estimate the cost of new MMR regulations.
Aldermore hires Sir David Arculus as chairman

9 Nov 2010

Arculus spent between 1997 and 2006 with Barclays in non-executive positions.
House prices fall in October, say surveyors

9 Nov 2010

49% of surveyors report fall rather than rise in prices.
Perspective Financial Group acquires sixth firm this year

9 Nov 2010

PFG acquires Applewood Wealth Management with at least two expected by end of year.
Savills Group expects £40m pre-tax profit in 2010

8 Nov 2010

Group made £14.4m pre-tax profit in first six months of 2010.
Which? gains FSA approval for mortgage advice service

8 Nov 2010

Which? has been given FSA approval to launch a mortgage advice service for its members and their family and friends.
Yorkshire BS appoints former MPC member Kate Barker

8 Nov 2010

Kate Barker was on YBS board before becoming MPC member in 2001.
RBS reports £1.4bn pre-tax loss in Q3

5 Nov 2010

Third quarter results are significant drop from £1.2bn profit in second quarter.
Brokers back Santander flotation plan

4 Nov 2010
IFAs advise caution over pension with loan deal

4 Nov 2010

Specialist pension IFAs have warned advisers to be cautious about a new scheme which uses a pension fund to back secured lending.
CML urges FSA to reconsult over MMR

4 Nov 2010

Trade body says current proposals are flawed and impractical.
Duckworth to lead Openwork fund development

4 November 2010

Openwork has appointed Mark Duckworth to the newly created position of commercial development director.
House prices rebound after September's fall

4 Nov 2010

Prices up 1.8 per cent, compared to September’s record 3.6 per cent fall.
No more QE and base rate held at 0.5%

4 Nov 2010

Bank holds QE at £200bn despite US Federal Reserve launching extra $600bn of QE.
Pension pressure brings surge for equity release

4 November 2010

Equity-release specialists bel-ieve the recent increase in business is due to the economic strain on pensioners rather than positive engagement with the product.Safe Homes Income Plans, the equity-release trade body, last week published figures showing the value of the market saw its biggest quarter-on-quarter increase since mid 2008. Between the second and third quarters of this year, the market rose by 4 per cent from £196.7m to £205m.
Pritchard aims to gain an edge with new firm

4 November 2010

Ex-Edeus director of packaging Terry Pritchard is preparing to set up a new national financial advice business later this month.
PTFS hints that rejected bidder was Countrywide

4 November 2010

Personal Touch Financial Services has confirmed that its board rejected a takeover bid for the network and hinted that the rejected bidder was Countrywide.
Broker mortgage products hit two-year high

3 Nov 2010

There are 7,564 available to intermediaries as of November 1.
AfI to launch two new products and reduce rates

2 Nov 2010

Lender cutting rates on selected products by up to 0.38 per cent from tomorrow.
E.surv launches register to limit lenders' exposure on new builds

2 Nov 2010

Register collects loan data, construction methods and values on new builds.
Lloyds paying back bailout loan quicker than anticipated

2 Nov 2010

Lender helped 35,000 first-time buyers onto property ladder so far this year.
MD Pension Solutions rebrands as MD Financial Solutions

2 Nov 2010

IFA referral specialist now offers brokers retirement planning and investment advice.
MMR would have restricted 45% of lending in 2010

2 Nov 2010

CML says 260,000 out of 567,000 advances would not have been granted.
NLA looks to ensure energy efficiency bill doesn't hit landlords

2 Nov 2010

New powers allow tenants force landlords to upgrade homes with energy saving features.
BM Solutions launches two new buy-to-let loans for one week only

1 Nov 2010

Applications must be submitted by November 5 at 8pm.
Santander scraps Alliance & Leicester brand

1 Nov 2010

300 A&L branches to be rebranded by the end of November.
PTFS appoints new head of sales development

29 Oct 2010

Andy Walton was most recently a national account manager at Aegon UK.
Santander confirms flotation plans

29 Oct 2010

Group looking to float up to 20 per cent of UK business.
AfI launches two new 60% LTV remortgage loans

28 Oct 2010

Lender is also cutting rates by up to 0.18% on selected mortgages.
Openwork appoints new commercial development director

27 Oct 2010

Mark Duckworth takes up newly created position on November 1.
PTFS' John Ruddick made network's head of IFA

27 Oct 2010

Simon Hewitt becomes IFA operations manager.
Personal identity

22 Oct 2010

Paul Thomas gauges opinion on PTFS’s restructure and finds other networks are being urged to evolve
Former FSA chairman Davies joins Pru board

21 October 2010

Prudential says it has appointed former FSA chairman Howard Davies and Paul Manduca as non-executive directors.
Half of advisers say RDR will have no impact on service

21 October 2010

Half of advisers believe that the RDR will have no impact on the service they provide to consu-mers, according to a survey conducted by HaysRecruitment.
Lighthouse restructures to boost national brand

21 October 2010

Streatfield: ‘ We can put all of our effort into getting the right technology in place to deal with RDR’
MMR will not shut people out of the market, says FSA

21 October 2010
Mortgage review targets 'wrong part of the sector'

21 October 2010

Council of Mortgage Lenders director general Michael Coogan says the mortgage market review will “kill” the wrong part of the sector.
PTFS looks to fill new role of sales development head

21 October 2010

Personal Touch Financial Services is recruiting for the newly created position of head of sales development as well as 10 regional managers following a structural shake-up.
Regulator denies UK will clash with EC on mortgage reform

21 October 2010

The FSA believes the European Commission’s proposed changes to mortgage regulation will not impact on the regulator’s own plans for mortgage reform.
Release could rocket to £30bn

15 Oct 2010

Equity-release experts believe Government support for the products could send the sector soaring to £30bn.
Ex-FSA chair Davies joins Pru

15 Oct 2010

Former chair of the FSA Howard Davies joins Prudential.
Ex-Edeus chief Pritchard sets up national financial services business

14 Oct 2010

Ex-Edeus director of packaging Terry Pritchard is understood to be setting up a new national IFA called Alt FS.
Brokers calm over biggest monthly fall in house prices

14 October 2010

Brokers have played down statistics which last week revealed house prices have suffered their biggest monthly fall since figures were first recorded in 1983.
Brokers say base line will stay low

14 October 2010

Brokers say base rate will remain at its current level for some time following the Bank of England’s decision last week to keep it at 0.5 per cent for the 19th consecutive month.
Lloyds passing the buck on homeloan checks, say brokers

14 October 2010

Lovey: ‘Shifting responsibility to brokers is unfair’
MP secures Commons debate on RDR

14 Oct 2010

Government ministers will have to respond to queries surrounding RDR.
Personal Touch shifts to employed structure

14 October 2010

Personal Touch Financial Services is moving from a regional appointed rep model to an employed model ahead of the RDR and mortgage market review.
Rate cuts as lenders look for volume

14 October 2010

Lenders are showing an increased appetite to lend with a number slashing rates in recent weeks.
Barclays extends drop lock to existing tracker customers

12 Oct 2010

Feature has been available to new tracker customers since July.
Housing minister warns of letting down future generations

12 Oct 2010

Grant Shapps says a period of house price stability is needed.
Paragon hires new director of mortgage underwriting

12 Oct 2010

Paul Clampin joins from Charteris insurance.
Personal Touch shifts to employed structure

12 Oct 2010

Personal Touch switches from a regional AR model to an employed structure ahead of the RDR and mortgage market review.
Proportion of remortgage loans falls to 10-year low

12 Oct 2010

Remortgage loans fell 13% and 14% by number and value respectively between July and August.
Abbey for Intermediaries hires new head of sales

11 Oct 2010

Brad Fordham becomes head of sales for telephony and service.
First-time buyer deals fall 89% since 2006

11 Oct 2010

28,000 advances to FTBs with 90% LTV in 2009, compared to 245,000 in 2006.
The MM Profile: John Heron

8 Oct 2010

Paragon’s group director of mortgages believes the private rented sector is going to play a much bigger role in the housing market as people find it increasingly difficult to get a mortgage.
Basel III could mean banks will shun securitisation

8 Oct 2010

Basel III rules could result in a long-term closure of the securitisation markets, according to JP Morgan Cazenove.
Follow the lender

8 Oct 2010

Paragon’s return to lending could inspire others. Paul Thomas reports
Germany to present "crisis resolution" plans

8 Oct 2010

Mechanism, which defines rules for emergency funds for eurozone states, replaces EFSF.
Northern Rock cuts fixed rate range by up to 0.42%

8 Oct 2010

The three products in everyday range available at 70% LTV.
Barclays cuts lifetime trackers by up to 0.41%

7 Oct 2010

Lender’s mortgage book has reached £100bn.
BoE holds base rate at 0.5%

7 Oct 2010

QE held at £200bn.
Charterhouse in property tie-up

7 October 2010

Charterhouse Retirement Solutions director Terry Pritchard has joined forces with Salvus Property Advisors to form an intermediary-only private equity property fund.
House prices down 3.6% in September

7 Oct 2010

0.9 per cent down between second and third quarters, according to Halifax survey.
Lloyds introduces spot-checks for interest-only mortgages

6 Oct 2010

Broker must provide documentation to prove suitable repayment vehicle in place.
Moody's to review Ireland's debt rating

6 Oct 2010

Rating could be downgraded from Aa2 to Aa3 or single A.
Banks set up venture capital fund for small businesses

5 Oct 2010

Fund will be headed by Barclays chief executive John Varley.
Just Retirement acquires annuity systems provider

5 Oct 2010

Provider Tomas says it needed further investment to grow the business.
MEP warns FSA overhaul risks UK's voice in Europe

5 Oct 2010

Liberal Democrat MEP Sharon Bowles believes scrapping the FSA risks Britain’s role in shaping European financial regulation.
Ray Boulger: FSA is biggest threat to mortgage market

5 Oct 2010

CML, BSA, IMLA and AMI have all also expressed concern about the future shape of the market.
CML warns FSA plans would have excluded 3.8m "good" loans

4 Oct 2010

51 per cent of loans would not be granted if FSA proposals had been in place between Q2 2005 and Q1 2009, says trade body.
FSA delays Tesco Bank launch

4 Oct 2010

Launch could be delayed by 12 months due to tougher authorisation criteria from the FSA.
Govt to scrap child benefit for higher earners

4 Oct 2010

Change will hit an estimated 1.2m families.
FSA sends investment IFA to loan seminar

1 Oct 2010

A Cumbria-based IFA has hit out at the FSA for ordering him to attend a day-long seminar that was irrelevant to his firm.
Landlords locked out

1 Oct 2010

As Lloyds pulls back on buy-to-let lending, Paul Thomas finds out what this will mean for the market
CML urges Govt to resist making further cuts to ISMI

1 Oct 2010

Rate due to be reduced from 6.08% to 3.63% from today.
Govt-backed lenders placed into single holding company

1 Oct 2010

Northern Rock’s “bad bank” and B&B are still separate legal entities.
Pink Home Loans breaches FSA's capital rules in 2009

1 Oct 2010

Network’s capital fell below level due to impairment provided to subsidiary.
Precise Mortgages relaunches buy-to-let range

1 Oct 2010

Features two-year tracker rates from 4.89 per cent and lifetime tracker products from 4.99 per cent.
Shapps welcomes new tenant eviction rules

1 Oct 2010

New rules mean tenants will no longer fear eviction with little or no notice.
Aldermore looks to fill buy-to-let gap left by LBG

30 Sep 2010

Lender has launched two fixed rate buy-to-let deals.
Paragon sends message with BTL return

30 September 2010

Paragon Group director of mortgages John Heron says the firm’s return to new buy-to-let lending should send out a message for others to return to the BTL market.
Lloyds TSB launches direct-only three-year fixed at 3.99%

29 Sep 2010

£895 product fee and free conveyancing with loan.
Mortgage approvals dip slightly in August

29 Sep 2010

But remortgage approvals increased.
Coventry launches new fixed rate loans from 3.59%

28 Sep 2010

New additions include 4.49% buy-to-let loan with LTV of 50%.
House prices in August up 6.7% year-on-year

28 Sep 2010

House prices rose 0.3% between July and August 2010.
OFT clamps down on debt management firms

28 Sep 2010

129 firms may lose licence unless immediate action is taken to comply with guidance.
Perspective Financial Group continues to acquire

28 Sep 2010

Group acquires IFA firm and another client database.
Ulster Bank appoints head of intermediary mortgages

28 Sep 2010

Steve Curruthers to become head of intermediary sales in Northern Ireland.
Skipton BS pulls 95% direct mortgage

27 Sep 2010

Spokeswoman says society reviewing its product range.
Unbiased.co.uk launches "find an IFA" iPhone application

27 Sep 2010

All IFAs subscribing to unbiased.co.uk’s enhanced advertising package featured on application.
FSA rejects high-LTV indemnity

24 Sep 2010

The FSA has no current plans to look at mandatory mortgage indemnity insurance for lenders on higher loan-to-value mortgages, Money Marketing understands.
Banks' annual gross mortgage lending falls 7.6% in August

23 Sep 2010

Number of house purchase approvals also fell between July and August.
FSCS says IFAs will have to pay out for failed stockbroker

23 September 2010

IFAs have hit out at the Financial Services Compensation Scheme’s decision to force IFAs to foot the bill for failed stockbroker Wills & Co.Last week, the FSCS confirmed that the cost of Wills & Co’s failure will fall on the intermediary sub-class.
Malone extends stay at PMS until 2012

23 Sep 2010

AMI recently appointed Malone as brokers’ representative on NFA mortgage fraud forum.
Mortgage lending at 10-year low

23 September 2010

Gross mortgage lending fell by 14 per cent to £11.4bn in August, from £13.3bn in July, according to figures from the Council of Mortgage Lenders.
Nottingham BS chief executive Rowling to retire

23 Sep 2010

Rowling to retire no later than May 2011.
RBS securitisation deal is biggest since credit crisis

23 September 2010

Industry experts have applauded plans by the Royal Bank of Scotland to launch a £4.7bn residential mortgage-backed security, saying it will provide a much needed boost to the mortgage market.
EC considering 10-day reflection period for mortgages, says CML

22 Sep 2010

Measure is designed to encourage shopping around.
MMR could make negative net lending the "norm"

22 Sep 2010

CML says MMR will inhibit opportunity in the market.
Daniels could receive up to £13m on retirement

21 Sep 2010

Daniels can start drawing from £192,000 a year pension as soon as he retires.
FSA cancels broker firm's permission for failing to report address change

21 Sep 2010

Regulator issued a warning notice to firm on June 29.
Aldermore adds two new fixed rates to residential range

20 Sep 2010

Completion fees are £1,999 and maximum loan value is £600,000.
Gross mortgage lending down 14% in August

20 Sep 2010

CML says total is lowest since August 2000.
Investec to launch first European sub-prime securitisation since crisis

20 Sep 2010

Issue is thought to be around £250m of “non-standard” mortgages, including sub-prime loans.
Northern Rock to sell its mortgage portfolios to repay Govt loan

20 Sep 2010

Bank hoping to clear two-thirds of debt in five or six years.
Advisers urged to be on alert over property plan

17 Sep 2010

Equity-release specialists have warned advisers to be wary of a new unregulated property income plan from new property company Equity IQ.
Branch lines

17 Sep 2010

Outgoing Lloyds Banking Group sales director of mortgages Nigel Stockton told Money Marketing earlier this month that the bank’s share of intermediary lending or a percentage of its overall lending could fall by a third over the next few years.
Imla dismisses housing minister's claim as "utterly aspirational"

17 Sep 2010

Housing minister Grant Shapps said “age of aspiration” is back.
LBG stops offering buy-to-let products through C&G and LTSB Scotland

17 Sep 2010

Buy-to-let still available through BM Solutions.
IFAs angry at Standard direct sales plan

16 Sep 2010

IFAs have criticised Standard Life for not valuing the adviser channel
Tenet offers run-off PI cover to ex-ARs

16 Sep 2010

Tenet has set up a scheme that allows former appointed representatives to obtain run-off professional indemnity insurance with the same level of cover offered to practising advisers.
Banks face big rise in capital requirements

16 September 2010

Banking regulators have agreed a package of reforms that will more than triple the amount of capital banks are required to hold in reserve under Basel III.
Financial services employees are the happiest

16 Sep 2010

Research shows financial services staff are the happiest, despite the recession and negative press.
GE Money CEO Colin Shave to retire

16 Sep 2010

Shave will step down on December 31, 2010.
Intermediaries defend use of interest-only loans

16 September 2010

Montlake: ‘Circumstances’
Mac and Mae merger to have big UK impact

16 September 2010

Cicero Consulting director Iain Anderson says potential plans to merge US government-backed mortgage lenders Freddie Mac and Fannie Mae will have a significant impact on the UK securitisation market.
Malone joins fraud forum

16 September 2010
Low level of MEP support for EU financial services regulator and ramped-up bank rules

15 Sep 2010

Only one in three MEPs support the creation of an EU single financial services regulator and ramped-up powers for the European Banking Authority.
Malone joins fraud forum

15 Sep 2010

The AMI has invited PMS executive chairman John Malone to represent brokers on the National Fraud Authority’s mortgage fraud forum.
TMW launches new buy-to-let product and reduces rates

15 Sep 2010

The Mortgage Works reduces selected fixed rate buy-to-let products by up to 0.60 per cent.
Number of new arrears cases fall for sixth consecutive quarter

14 Sep 2010

FSA data shows total arrears cases fall for fourth consecutive quarter.
Basel Committee agrees banks' new capital requirements

13 Sep 2010

Banks required to hold 7% common equity.
Lloyds Banking Group hires replacement for Nigel Stockton

13 Sep 2010

Mike Jones was previously London and South East network director for Lloyds TSB Community Bank.
Mortgage market remains subdued in July

13 Sep 2010

CML data shows 56,000 loans for home purchase advanced in July.
Standard Life looks to direct distribution

13 Sep 2010

CEO David Nish says 70 per cent of consumers do not have an IFA.
Link-up for advice website

10 Sep 2010

Personal finance website Interactive Investor has teamed up with IFA firm Lee Associates to offer a new online service.
Mortgage Advice Bureau sets up wealth arm

10 Sep 2010

The Mortgage Advice Bureau has launched a wealth management service.
Peter Brodnicki

10 Sep 2010

The chief executive of the Mortgage Advice Bureau says the firm has completed the client servicing chain with its wealth management division and is prepared for the rigours of the MMR Interview by Paul Thomas
Godiva launches 2.49% fixed rate

10 Sep 2010

Lender also launches 2.99% three-year fixed rate.
L&G forms partnership with Islamic bank

10 Sep 2010

L&G’s intermediaries now have access to Islamic Bank of Britain’s mortgage range.
Shapps brands HIPs "foolish"

10 Sep 2010

Housing minister says home information provided on voluntary basis in future.
UK's largest banks adopt BBA's new financial reporting guidelines

10 Sep 2010

New code gives investors and regulators clear access to information about lenders.
Santander and Barclays get most customer complaints

9 September 2010

Santander has emerged as the lender with the highest number of customer complaints relative to the number of customers after the FSA ordered banks to publish complaints data.
FSA could kill off interest-only mortgages

8 Sep 2010

CML says regulator’s proposals will exclude a good option for many borrowers.
Coventry Intermediaries pledges not to offer linked products

7 Sep 2010

Pledge follows similar commitments to brokers in 2007.
German banks launch last-minute attempt to relax Basel III rules

7 Sep 2010

Germany’s banking industry warns rules could undermine German economy.
Retirement Partnership launches team to support IFAs

7 Sep 2010

Consulting team to help advisers maximise opportunities in retirement market.
House-builder teams up with Gov't agency to boost rented accommodation

6 Sep 2010

555 properties to be allocated to rental sector by June 2012.
Santander to recruit 600 staff following RBS branch acquisition

6 Sep 2010

Bank has dismissed reports saying figure is 6000.
Golden goodbye

3 Sep 2010

Paul Thomas assesses reaction to a report claiming we are at the end of a gilded era for homeownership
Santander comes off worst in complaints data

2 Sep 2010

Majority of complaints related to banking services.
Savills shuts down mortgage packaging arm after poor trading

2 September 2010

Savills is closing subsidiary Savills Lending Solutions due to difficult trading conditions.
Yorkshire battered by data watchdog for losing laptop

2 September 2010

The Information Commissioner’s Office has found Yorkshire Building Society in breach of the data protection act after an laptop was stolen containing customers’ unencrypted details.
Increase in interest-only mortgages with no repayment vehicle

1 Sep 2010

19 per cent of mortgages were interest-only with no repayment vehicle.
Stockton says broker share of Lloyds' lending could slump

1 Sep 2010

Outgoing sales director says its share of lending through brokers could fall to 50 per cent of its overall lending figures.
Thousands set to be in negative equity until 2014

31 Aug 2010

House prices predicted to be £226,900 by 2014.
Coalition shifts wholesale funding stance

27 Aug 2010

Mortgage experts believe the coalition Government has changed its stance on wholesale funding, offering hope that it may take steps to resolve the current funding shortfall.
Scepticism at thinktank's forecast of rate rise to 8%

27 Aug 2010

Mortgage experts are sceptical of The Policy Exchange’s forecast that interest rates could rocket to 8 per cent by 2012.
Self importance

27 Aug 2010

Paul Thomas looks at the options for self-employed borrowers following the MMR
Santander receives 1,300 complaints a day in first half of 2010

27 Aug 2010

The figure equates to 245,000 for the first half of 2010.
Dual-pricing plea is rejected by the Government

26 August 2010

The Government says it will not intervene on behalf of mortgage brokers to put an end to dual-pricing, saying pricing and mortgage terms and conditions “remain commercial decisions for banks and building societies”.
Lloyds TSB rejects 9 out of 10 customer complaints

26 Aug 2010

Bank receives around 2,000 complaints a day.
Savills closes down its packager SLS

26 Aug 2010

SLS is to stop taking new business with immediate effect.
Savills reports improved first half profits

26 Aug 2010

£14.4m per-tax profit in first half 2010, compared to £0.1m in first half 2009.
Yorkshire BS censured over laptop loss

26 Aug 2010

ICO finds against Yorkshire after an unencrypted laptop was stolen containing customers’ details.
Nigel Stockton joins Countrywide

24 Aug 2010

Lloyds Banking Group sales director of mortgages to join Countrywide as financial services development director.
Northern Rock postpones fee reduction

24 Aug 2010

Lender says internal system error responsible.
B&B looks to recoup same-day remortgage losses from solicitors

23 Aug 2010

Lender says solicitors failed to disclose important information in the transactions.
Revenue income validation scheme set for autumn start

20 Aug 2010

HMRC is in advanced talks with the Council of Mortgage Lenders about introducing a scheme that allows lenders to verify income.
Skipton withdraws two-year deals over service concerns

20 Aug 2010

Service concerns prompt Skipton to withdraw two-year deals after five weeks.
Margin calls

20 Aug 2010

Paul Thomas reports on why banks have decided to widen the margins on their mortgage products
Govt refuses to intervene on dual pricing

20 Aug 2010

The Government has insisted that pricing remains a commercial decision for banks and building societies.
Northern Rock cuts mortgage application fee by 60%

20 Aug 2010

Fee slashed from £250 to £99.
Boulger hits out at lenders over heavy footprints marring credit

19 August 2010

John Charcol senior technical manager Ray Boulger has slam-med lenders for leaving damaging footprints on customers’ credit records when making a mortgage enquiry and believes this approach flouts FSA rules.
Skipton launches replacement two-year range

18 Aug 2010

Building Society withdrew pervious range due to high demand.
Aldermore extends range to include first-time buyers

17 Aug 2010

Lender has made numerous changes to range, including increasing maximum loan size.
Housing institute warns "golden age of home ownership" is over

17 Aug 2010

Chartered Institute of Housing urges Government to provide more options for those unable to get on ladder.
Package comeback

16 Aug 2010

As many struggle to secure a mortgage, could a return to packagers be the answer? Paul Thomas reports.
Coventry scraps In The Loop brand for new business

16 Aug 2010

Society will use its own intermediary brands following Stroud & Swindon merger with all S&S board members leaving the business.
Post Office slashes rates

16 Aug 2010

Lender also launches new two-year fixed-rate deal at 65 per cent LTV with a rate of 2.85 per cent.
Barclays rejects idea of lending targets

13 Aug 2010

Head of small business Steve Cooper says it encourages irresponsible lending.
Boulger warns lender tactics discourage shopping around

13 Aug 2010

John Charcol senior technical manager says most lenders try to stop shopping around by leaving hard footprints, in breach of FSA rules.
Northern Rock cuts Everyday range rates

13 Aug 2010

Buy-to-let deals slashed by up to 0.60 per cent.
Skipton to withdraw two-year range due to demand

13 Aug 2010

Building Society says demand has caused concerns about service levels.
Northern Rock launches intermediary-designed mortgage

12 Aug 2010

’Design your own mortgage’ competition won by Mark Watson.
OFT rejects plea for Skipton probe on rate ceiling

11 Aug 2010

The OFT has decided not to investigate a complaint about Skipton Building Society.
Beacon places staff into consultation

11 Aug 2010

Sales director Clive Wilson still confident lender can secure funding.
LSL runs rule over Pink Home Loans

11 Aug 2010

LSL is looking to increase the scale of its mortgage proposition after Home of Choice deal.
Former police detective gets 6 years for £3.7m BTL fraud

10 Aug 2010

Charles Overend inflated house valuations to borrow more than the maximum 85% LTV.
Leeds BS reports 10% increase in half-year profits

10 Aug 2010

Building Society attracted 34,000 new members in the first half of 2010.
Coventry BS stops interest-only loans for first-time buyers

9 Aug 2010

Coventry Building Society will no longer allow interest-only mortgages for first-time buyers, becoming the latest of a number of lenders that have made changes to their policy on interest-only products.
NatWest Intermediary Solutions adds three new deals to range

9 Aug 2010

Lender also reducing the rate on its 60% LTV corporate remortgage.
Savills Lending Solutions enter consultation period with all staff

9 Aug 2010

Difficult trading conditions cited as reason for the move.
Views of the low land

6 Aug 2010

Paul Thomas assesses reaction to forecasts of low interest rates continuing for the next three years
Abbey for Intermediaries and A&L merge to form one brand

5 Aug 2010

Combined intermediary products will be branded Abbey for Intermediaries from October 15.
Moneysupermarket flawed research angers brokers

5 August 2010

Brokers have attacked moneysupermarket.com after a press release said borrowers should think twice before using mortgage brokers because 90 per cent of products are now direct-only.
Nationwide drops rates by up to 0.3%

5 Aug 2010

Biggest cuts are on mortgages available up to 85 per cent loan-to-value.
Santander completes £1.65bn deal for RBS branches

4 Aug 2010

Deal to complete in 15 to 18 months once approvals are obtained.
Tenet reviews leads deal following moneysupermarket.com's broker blunder

3 Aug 2010

Personal Touch has already terminated relationship with PAA Leads following website’s direct only claims.
Direct action

30 Jul 2010

Brokers respond to the popularity of direct-only products by charging fees upfront, says Paul Thomas
'Interest-only rules give IFAs advantage'

30 Jul 2010

FSA’s interest-only proposals put IFAs at an advantage over mortgage brokers, experts suggest.
Angry members slam Nationwide directors over pay

29 July 2010

Nationwide directors came under fire from angry members over their pay last week at the building society’s annual general meeting.
Cable's TUC conference invite removed in protest over spending cuts

29 Jul 2010

Prime Minister David Cameron turned down the offer to attend due to impending birth of his child.
Competition Commission clamps down on PPI

29 Jul 2010

Paper aims to give clearer information to customers on the cost of retail PPI cover and their rights.
Duncombe and Carvell join Abbey

29 July 2010

Abbey for Intermediaries has appointed Jeremy Duncombe as head of field sales in a restructure of its intermediary distribution management team.
Ernst & Young predicts a low base rate until 2013

29 July 2010

White: Impact on remortgages
IFAP could drop its not-for-profit status

29 July 2010

Barrett: Self-funding objective
Mutuals' gross mortgage lending up 19% in June

29 Jul 2010

Figure is 34 per cent higher than the average of £1.34bn recorded over the previous five months.
Santander's half-year pre-tax profits up 10%

29 Jul 2010

Lender says it has a 19 per cent share of the mortgage market.
Tied mortgage products have soared this year, says Which?

29 July 2010

The proportion of mortgages available only to customers who already have another pro-duct with the same lender have shot up since the beginning of 2010, according to Which? Money.
Yorkshire and Clydesdale admit mortgage error

29 July 2010

Yorkshire and Clydesdale banks have written to around 18,000 variable rate mortgage customers apologising for an error which has meant borrowers have been underpaying their mortgage.
Economy has 19% chance of shrinking next year

28 Jul 2010

National Institute of Economic and Social Research says growth will reach 2.2% by 2012.
FSA warns IFAs on unregulated investment schemes

28 Jul 2010

11 firms facing restrictions after FSA research into UCIS.
House prices rise 8.4% since June 2009

28 Jul 2010

0.1% rise in prices between May and June.
Mervyn King says we are a long way from "normal"

28 Jul 2010

“The debate is about the appropriate degree of stimulus, not about applying the brakes” says governor.
Rathbones' profits up 11% in first half of 2010

28 Jul 2010

Total funds under management were £13.29bn at June 30, up 1.5 per cent.
Woolwich slashes rates and launches drop lock

28 Jul 2010

Drop lock facility available to new tracker and offset borrowers with Barclays.
BP confirms replacement for Tony Hayward

26 Jul 2010

Hayward will step down on October 1 and will be replaced by Robert Dudley.
Leeds BS re-enters self-build market

26 Jul 2010

Money released in five stages and up to 75% LTV for each stage.
Market share of tied products rockets in 2010

26 Jul 2010

Proportion of mortgage deals tied to other products doubles since January, according to Which? research.
Nationwide rate increase may breach consumer regulations, says Which?

26 Jul 2010

Which? warns Nationwide over decision to hike mortgage rates for residential customers who let out their properties.
Skipton's half-year profits jump by 48%

26 Jul 2010

Half-year pre-tax profits £21.7m, up 48 per cent on last year’s figures.
Cash buyers are cutting out locals in London market

23 Jul 2010

Lenders and brokers have expressed concerns that foreign cash buyers are squeezing London workers out of the property market.
Longer tenancies needed in market sea-change

23 Jul 2010

Calls for UK market to be more like Europe.
New regulator is going to be much tougher

23 Jul 2010

Mortgage experts have warned that the new regulatory structure under the Bank of England will be far more draconian and consumer-driven.
Next scandal will be rental rogues, warns Malone

23 Jul 2010

Banned mortgage brokers and former estate agents may look to move into the sector, warns Malone.
No brokers on the forum to fight fraud

23 Jul 2010

Malone warns that mortgage intermediaries do not have a voice in high-level discussions aimed at combating fraud.
Lenders may be punished for showing forbearance

23 Jul 2010

Mortgage market review could deter lenders from switching struggling borrowers to interest-only.
Nationwide could be set for Ipswich acquisition

23 Jul 2010

Building society does not rule out further acquisitions after Cheshire and Derbyshire in 2008.
Abbey for Intermediaries hires head of sales

23 Jul 2010

Former Platform head of sales Jeremy Duncombe takes up new role.
FSA wants to cut homeloan market to tighten control

22 Jul 2010

Nationwide says the FSA wants a smaller mortgage market in order to give it greater control.
Arrears policy costs Redstone £630k fine and £500k redress

22 July 2010

The FSA has fined Redstone Mortgages £630,000 for poor treatment of some customers in arrears and the firm will have to pay up to £500,000 in customer redress.
Nationwide directors under fire from members over pay

22 Jul 2010

AGM sees members lash out over director remuneration.
Two jailed for £7m boiler room scam

22 Jul 2010

Two men carried out a hard-sell, illegal operation from call centres in Spain.
Yorkshire and Clydesdale apologise for calculation error

21 Jul 2010

Banks write to 18,000 of their customers apologising for a mortgage payment calculation error.
Mortgage lending up 15% in June

20 Jul 2010

Gross lending also up 7% on June last year.
Moody's says MMR may reduce lending and house prices

19 Jul 2010

Ratings agency says FSA plans could reduce house prices and lending volumes in the short term.
Precise Mortgages slashes product fees

19 Jul 2010

Fees cut from 3 per cent to 1.5 per cent and range also include flat fee products.
Coalition ready to let property values fall

16 Jul 2010

Industry experts believe the Government is more focused on helping businesses than it is on supporting the housing and mortgage markets.
Downtime is chance to shake up stamp duty

16 Jul 2010

CML says Govt should reform the tax while transaction levels are low.
Give Shapps Cabinet seat to drive housing policy

16 Jul 2010

Mortgage experts warn housing is not a high priority for the coalition Government.
Linx FS has talks with network as AllMyPlans looks at split

16 Jul 2010

Linx FS is in talks with another network after it emerged that its current principal, AllMyPlans.com, is looking to offload the mortgage firm.
Million fewer homes being built by 2020

16 Jul 2010

PMS executive chairman John Malone has warned that the Government does not see housebuilding as a priority.
Nationwide warns that retail funding is not a panacea

16 Jul 2010

Retail deposits are not the failsafe source of mortgage funding they are portrayed to be, according to Nationwide.
False economy

16 Jul 2010

Is there value in mortgage deals aimed at protecting borrowers from rate rises? Paul Thomas reports
Coventry BS launches "Flexx" product range

16 Jul 2010

Borrowers allowed unlimited over payments with no early repayment charges.
Rental property supply hits all-time low

16 Jul 2010

70 per cent of ARLA member offices say there are more tenants than available properties.
Malone helps brokers combat fraud

15 Jul 2010

Intermediaries should be carrying out due diligence on all professional partners and on their clients in order to combat fraud, warns PMS executive chairman John Malone.
FSA loan plans could lock borrowers into a 'mortgage prison'

15 July 2010

The Association of Mortgage Intermediaries has warned that the FSA’s proposals for responsible lending risk making more borrowers “mortgage prisoners”.
Reduced arrears cases puts 80 more HML jobs at risk

15 Jul 2010

45 roles in Derry at risk of redundancy and 35 across HML’s Padiham, Glasgow and Skipton sites.
Martin Lewis slams lenders for "killing off" brokers

14 Jul 2010

MoneySavingExpert.com’s Martin Lewis hits out at lenders for holding brokers to ransom with direct-only deals.
Citizens Advice launches tender for debt management partnership

14 Jul 2010

Year long pilot to be rolled out in up to 100 of the charity’s 394 bureaux.
Yorkshire lowers five-year fixed rate product

14 Jul 2010

Lender also offers a ten-year fixed-rate deal at 4.99 per cent for those with a 75 per cent deposit.
FSA lending plans a "step into the abyss"

13 Jul 2010

Trade bodies warn of unintended consequences of regulatory proposals.
Aldermore launches limited edition residential range

12 Jul 2010

Lender also increases maximum loan size to £500,000.
Co-op and Britannia offers customers "mix and match" mortgages

12 Jul 2010

Borrowers are now able to fix and track different amounts of their home loan with no additional restrictions.
Mortgage interest payments at 35-year low

12 Jul 2010

CML says house purchases up in May.
Single voice is needed for equity release

9 Jul 2010

Equity-release professionals say the sector needs a single, united trade body.
Only 10 sale and rentback firms could be approved

9 Jul 2010

The FSA is expecting to approve only 10 out of 27 applications from firms seeking to gain authorisation for sale and rentback activities.
BoE votes to hold base rate at 0.5 per cent

8 Jul 2010

Quantitative easing programme kept at £200bn.
House prices fall by 0.6 per cent

8 Jul 2010

June fall follows drop of 0.5 per cent in May.
NatWest Intermediary Solutions appoints new head of sales

8 Jul 2010

Mark Bullard has spent six years in intermediary sales with the RBS Group.
Toxic shock

8 July 2010

Paul Thomas looks at the FSA’s plans to ban toxic-cocktail mortgages.
Lloyds extends Lend a Hand scheme to homemovers

7 Jul 2010

Borrowers gain access to better rates by backing up with family members’ savings.
John Charcol launches interest rate cap to protect borrowers

6 Jul 2010

Cap aims to protect borrowers with large mortgages.
Leeds BS introduces flexible fixed range

6 Jul 2010

Borrowers receive £1,000 on completion, there is no higher lender charge and the mortgage is fully portable.
Capstone Mortgages to rebrand as Acenden

5 Jul 2010

Former Lehman Brothers mortgage administrator to rebrand and offer its services to other companies in the sector.
Dr Martin Weale joins Monetary Policy Committee

5 Jul 2010

Weale replaces Kate Barker as an external member of the MPC.
Manor Mortgages appoints Cammy Amaira

5 Jul 2010

Former Intelligent Finance director of sales joins as national sales director.
Martin Reynolds joins Largemortgageloans.com

5 Jul 2010

He will be tasked with expanding strategic partnerships.
FSA rejects CML's cost claim for weeding out rogues

2 Jul 2010

The FSA has refuted the Council of Mortgage Lenders’ claims that the approved persons’ regime will cost the industry£15m a year.
Personal Touch eyes two networks

2 Jul 2010

Personal Touch Financial Services is in discussions with two networks over potential acquisitions, Money Marketing understands.
Bank of England says credit availability will drop

2 Jul 2010

Lenders fear tightening of wholesale market, according to BofE survey.
Banks look for extra funding after repaying ECB

2 Jul 2010

ECB was keen to wean banks off the support package.
Reynolds, Knight and Hague launch new mortgage consultancy service

2 Jul 2010

Industry figures launch Sagis, a “network of seasoned industry experts who have ‘been there, done that and got the t-shirt’”.
Yorkshire BS launches direct-only 90% deal

2 Jul 2010

The product is a two-year fixed-rate mortgage with a rate of 5.99 per cent.
'Base rate to stay at 0.5% until end of 2013'

1 Jul 2010

Ernst & Young: Fiscal tightening measures proposed by the Government will not choke off recovery.
Cable may link banker bonuses to lending

1 Jul 2010

Business Secretary to set out new measures to boost lending to small businesses.
Chelsea confirms 91 jobs under consultation

1 Jul 2010

Building society has been working with Gloucestershire First to provide support for those affected.
Openwork sets up repayment switch deal

1 July 2010

Openwork says it has reached an agreement with some of the UK’s biggest lenders to encourage interest-only borrowers to switch to a capital repayment loan.
Pain quits FSA after shake-up

1 July 2010

FSA managing director of supervision Jon Pain has resigned due to the regulatory shake-up.
House prices up 3% in first half of 2010

30 Jun 2010

Prices up 0.1 per cent between May and June.
Lloyds to cull 650 jobs

30 Jun 2010

Bank will also close its Halifax agencies.
Nationwide slashes rates for home buyers

30 Jun 2010

Rate reduced by up to 0.29 per cent.
Another FSA managing director to quit

29 Jun 2010

Jon Pain has decided to leave early next year following the recent regulatory restructure announcement.
CML warns over ISMI cuts

29 Jun 2010

Trade body says borrowers will suffer through drop in mortgage interest help.
Woolwich appoints new head of key accounts

29 Jun 2010

Sarah Green has worked for Barclays’ mortgage propositions team for three years.
Commercial director leaves First Complete

28 Jun 2010

Commercial director says he is leaving to pursue other business interests.
House prices dip in May

28 Jun 2010

First time since March 2009 that annual figure not increased on month before, says Land Registry.
Platform launches seven-year fixed range

28 Jun 2010

Range also includes two, four and ten-year fixed-rates as well as a two-year tracker.
Banks successfully lobby regulators on capital requirements

25 Jun 2010

Basel committee now believes capital proposals should be reviewed.
FirstStop Advice launches equity release advice service

25 Jun 2010

New services offers elderly people advice about their financial concerns.
Leeds BS launches shared ownership mortgage aimed at FTBs

25 Jun 2010

Leeds Building Society has launched a new shared ownership product aimed at helping first-time buyers onto the housing ladder.
Lenders "harshly treated" by approved persons scheme

25 Jun 2010

CML director general Michael Coogan: “In financial regulation, as in football, whether we like it or not the referee’s decision is final.”
Openwork launches campaign to encourage borrowers off interest-only

25 Jun 2010

Openwork advisers do not pay an administration fee when switching loans with its partners.
Capital pain relief for BTL

24 Jun 2010

Lenders say the lower than anticipated increase in capital gains tax in the emergency Budget is not the disaster that had been feared by the buy-to-let sector.
CML urges Government to help improve building society prospects

24 Jun 2010

Director general Michael Coogan: “more needs to be done to ensure the long term contribution of a thriving mutual sector”.
Boulger says CGT increase won't hit buy-to-let

22 Jun 2010

Ray Boulger says the impact will be minimal and amateur landlords can mitigate the tax increase.
FSA data: repossessions drop to lowest level in two years

22 Jun 2010

FSA says arrears cases also fell in last quarter.
Fixed mortgage rates at 7-year low

21 Jun 2010

Moneyfacts.co.uk says rates have fallen as lenders want to tempt borrowers off SVRs.
Imla urges Chancellor to tackle mortgage funding drought

21 Jun 2010

Imla also urges Chancellor to consider the impact of CGT changes on the private rented sector.
NHF fears housing budget could be cut by third

21 Jun 2010

National Housing Federation says cuts would damage recovery.
Property fraud increases in first five months of 2010

21 Jun 2010

Steady rise in the number of tip offs received by the Solicitors Regulation Authority.
RBS branch sale delayed by FSMA requirements

21 Jun 2010

RBS to write to affected customers to see if there are objections to switching banks.
Woolwich cuts high LTV interest rates

21 Jun 2010

All fixed rate mortgages revert to a lifetime tracker rate at base plus 2.49 per cent after the fixed rate period.
New lending

18 Jun 2010

Paul Thomas asks if innovative deals being offered in the mortgage market shows that lenders are willing to look further than plain vanilla products
Brokers back Barclays on newbuild deal

17 June 2010

Brokers have praised Barclays’ new mortgage deal for clients buying Bovis homes and hope to see the scheme replicated with other lenders to have a greater impact on the newbuild market.
2005 Debt forced Home of Choice into administration

11 Jun 2010

Former Home of Choice chief executive Gerry O’Brien says the network’s inability to service debts created in 2005 led it into administration.
Mortgage lenders 'inflexible'

11 Jun 2010

Brokers call on Govt to intervene as an increasing amount of self-employed borrowers turn to secured loans instead of remortgaging due to lender requirements.
Paragon predicts rally in BTL and plans return to lending

11 Jun 2010

Heron: ‘Return of confidence’
Remortgaging makes 'undeniable sense'

11 Jun 2010

John Charcol senior technical manager Ray Boulger says the time has come for many borrowers on standard variable rates to consider remortgaging.
Branch line

11 Jun 2010

Paul Thomas on how advisers are taking the lion’s share of loans business and the impact on lenders
Yorkshire BS offers new ten-year fixed rate

11 Jun 2010

Product for borrowers with a 25 per cent deposit.
Joint mortgage applicants singled out by Platform

10 Jun 2010

Platform has launched a mortgage range available only to joint applicants.
BoE holds base rate at 0.5%

10 Jun 2010

Bank of England also agreed to maintain the size of the asset purchase programme at £200bn.
House prices 10% shy of 2007 peak

10 June 2010

House prices are now only 10 per cent less than their October 2007 peak, according to Nationwide’s monthly house price index.
Nationwide launches "simplified" mortgage range

10 Jun 2010

Specialist lending arm The Mortgage Works also launches broker-exclusive prime range.
Woolwich offers exclusive mortgage for Bovis customers

9 Jun 2010

The lender says the deal is aimed at home-movers with limited equity and first-time buyers.
Exact appoints compliance director

8 Jun 2010

Horsfield, a qualified solicitor, spent 15 years at Derby Building Society.
LSL launches property asset management service

8 Jun 2010

St Trinity Asset Management created following acquisition of Halifax Estate Agents Corporate Services.
Natwest Intermediary Solutions announces restructure

8 Jun 2010

Restructure of NIS part of the 600 job losses announced last month.
Lloyds action group launches £14bn compensation bid

7 Jun 2010

Treasury and Lloyds directors given 90 days to respond before the group starts legal action.
NAB pulls out of race for RBS branches

7 Jun 2010

Reports suggest NAB may sell Clydesdale and Yorkshire banks.
Brokers slam 'illogical' cap on interest-only

4 Jun 2010

Brokers specialising in high-net-worth clients say that Lloyds Banking Group’s decision to cap interest-only lending for mortgages over £500,000 is illogical.
Loan strangers

4 Jun 2010

Will the Office of Fair Trading’s review remove barriers to entry into the lending market?
Mortgage products fall 90% since July 2007

4 Jun 2010

But number of products on the market has broken the 3,000 barrier for the first time since July 2009.
£450M cost of Nationwide's SVR pledge

3 June 2010

Nationwide: Fall in profits
House prices now 10% below 2007 peak

3 Jun 2010

Prices up 0.5 per cent month-on-month in May.
Leeds BS chief stands down

3 June 2010

Leeds Building Society chief executive Ian Ward is to retire from his position at the end of the year. He will remain as a director during the first quarter of next year until the society’s annual general meeting.
Lloyds raising SVR on new mortgages

3 June 2010

Lloyds Banking Group has hiked the standard variable rate for new Lloyds TSB and Cheltenham & Gloucester borrowers and is no longer offering new customers the guarantee that its reversionary rate will never be more than 2 per cent above base rate.
MBO for Mortgageforce as West Brom makes £18.5m loss

3 June 2010

West Bromwich Building Society has agreed to sell Mortgageforce to management for a nominal consideration while retaining a minority interest in the broker franchise.
FSA fines commodities broker for market abuse

2 Jun 2010

Futures artificially increased coffee prices.
L&G calls for credit scoring reduction

2 Jun 2010

’Back to basics’ approach needed to allow self-employed and complex borrowers to access lending.
Accord launches ten-year fixed rate

1 Jun 2010

Lender also announces reduction to mortgage range.
FSA orders Chesham to change 'unfair' mortgage terms

1 Jun 2010

Chesham to offer no new mortgages following Skipton merger, changes apply to existing customers.
House prices rise for sixth straight month

1 Jun 2010

Prices creep up by 0.2 per cent from March to April.
TrigoldCrystal launches iPhone app

1 Jun 2010

Results can be emailed to the broker to show clients.
Tightening the interest-only screws

28 May 2010

Lloyds’ move to restrict interest-only lending could prompt similar action elsewhere.
A&L cuts SVR for new borrowers

28 May 2010

Rates cut by up to 0.75 per cent on June 1.
Lloyds hikes SVR and scraps ceiling for new borrowers

28 May 2010

Reversion rates for new Lloyds TSB and C&G borrowers are no longer guaranteed at 2% over base rate.
Broker-only Precise focuses on buy to let

27 May 2010

Cleary: ‘We will be cautious’
Leeds BS chief exec to stand down

27 May 2010

Deputy chief exec David Pickersgill to succeed Ian Ward at end of year.
LV= adds to equity release team

27 May 2010

Clare Lucas appointed product development manager.
Mortgage firms seek stamp duty shake-up

27 May 2010

The mortgage industry has called for stamp duty to be completely overhauled, following the announcement that the coalition Government will review the effectiveness of raising stamp duty threshold for first-time buyers.
New lender says no to credit-scoring

27 May 2010

Intermediary-only Aldermore caters for borrowers rejected by mainstream lenders with trackers and fixes
Rate rises raise concerns

27 May 2010

There has been a rise in complaints about standard variable rates despite mortgage-related complaints falling slightly.Mortgage complaints fell to 7,469 from 7,602 but complaints about lenders’ SVRs increased as well as complaints about rates not tracking changes in the base rate and the removal of interest rate ceilings by some lenders.Banks accounted for 64 per cent of complaints, intermediaries made up 18 per cent and building societies 9 per cent.
Advisers protest at lenders' policies on maternity pay

26 May 2010

Brokers have hit out at lenders’ treatment of applicants on maternity pay when assessing mortgage affordability.
Nationwide looks to shut branches as profits slide

26 May 2010

Nationwide blames profit fall on difficult trading conditions, a low interest rate environment and margin compression.
West Brom agrees to sell Mortgageforce to management

26 May 2010

West Bromwich Building Society has agreed in principle to sell broker franchise Mortgageforce to its existing management.
Co-op and Britannia launch 3.99% direct-only five-year fixed

25 May 2010

Group also to launch two-year fixed at 2.95 per cent.
EU banking levy proposals to be unveiled tomorrow

25 May 2010

Levy paid into national funds to stop future financial failures spreading to wider system.
Landlords' portfolios jump 6.1% in Q1 2010

25 May 2010

Buy-to-let lender Paragon says 73% of landlords think prices will remain stable over next 12 months.
Yorkshire BS launches direct-only first-time buyer range

25 May 2010

No upfront fees, £500 cash back and LTV up to 85 per cent.
Nationwide slashes five-year fixed rates

24 May 2010

Rates cut by up to 0.31 per cent on remortgage and house purchase loans.
Mortgage brokers cut out of high LTV deals

21 May 2010

Mortgage brokers are concerned that they now have access to less than half the products on the market.
Capital pain

21 May 2010

Mortgage sector fears a planned rise in capital gains tax will have a knock-on effect as landlords rush to sell ahead of the deadline. Paul Thomas reports
Approved persons register must apply to all and not be retrospective

21 May 2010

AMI says retrospective authorisation process could exclude some intermediaries.
Countrywide to reimburse customers for HIPs orders

21 May 2010

Estate agency managing director welcomes Govt’s decision to scrap HIPs.
Exact launches new buy-to-let lender

21 May 2010

Precise Mortgages will distribute solely through intermediaries.
Gross lending down 12% in April

21 May 2010

CML says seasonal dip was due to Easter break.
Intermediary-only lender Aldermore launches Monday

21 May 2010

Lender will initially trade through a select panel of networks and clubs.
Law firm complains to OFT over Skipton's scrapped ceiling rate

20 May 2010

Leon Kaye files formal complaint on behalf of Skipton borrowers hit by its decision to scrap its SVR ceiling.
Fears grow over Tory plans to curb wholesale funding

20 May 2010

Experts have raised concerns as to whether the coalition Government will look to implement the Conservative pledge to red-uce the mortgage market’s dep-endence on wholesale funding, warning any attempt to do so could hinder the recovery.
FSA set to escape the axe

20 May 2010

The FSA is expected to survive the Conservative-LibDem Government’s banking regulation plans.
Kensington BTL deals for landlords looking to expand

20 May 2010

Kensington has launched a range of buy-to-let products aimed at existing landlords who want to expand their portfolios.
Lloyds cap slashes repayment choice

20 May 2010

’How can an Isa or endowment be less risky than the future value of your home?’
Nationwide to close four processing centres

20 May 2010

Building society says it is too early to estimate redundancies.
Skipton 95% mortgage deal spurs competition

20 May 2010

Hollingworth: ‘Positive move’
Portillion appoints three to senior team

19 May 2010

Firm says it will launch as a lender when time is right.
CML says keeping the FSA is good news for lenders

18 May 2010

Trade body urges Govt to implement transition schemes to wean industry off Govt funding.
Brokers process two thirds of mortgages

18 May 2010

IMLA chairman says underlines importance of intermediaries.
Paragon sees sharp rise in profits

18 May 2010

Heron says he is continuing to prepare the business for a return to new lending.
Kensington launches buy-to-let range

17 May 2010

Products aimed at existing landlords wishing to expand their portfolio.
Mortgage lending up 45% year-on-year

17 May 2010

CML figures show ninth consecutive month of year-on-year growth.
Chancellor to head new banking committee

14 May 2010

New committee will regulate and supervise banks.
Skipton to launch 95% mortgage direct

14 May 2010

Deal will be offered in branches with discounts for existing customers.
HoC advisers to be paid pipeline cash

13 May 2010

LSL Property Services’ £1.5m purchase of Home of Choice’s assets out of administration has left the bulk of the mortgage network’s £6m of liabilities behind.
BSA and FSA split on Pibs

13 May 2010

The Building Societies Association and the FSA are at loggerheads over the mutuals’ use of permanent interest-bearing shares to meet the regulator’s proposed capital requirements.
FSA delays transfer of Home of Choice ARs

13 May 2010

The FSA has delayed the transfer of 23 Home of Choice ARs to First Complete as the network confirms that any adviser not joining will not be paid any pipeline commission.
Hanley chief Webster elected BSA chairman

13 May 2010

Hanley Economic Building Society chief executive David Webster has been elected chairman of the Building Societies Association for 2010/11.
House prices up in March

13 May 2010

Prices up 9.7 per cent on year before, Government figures show.
Platform makes two senior management appointments

13 May 2010

Former Checkmate commercial director and former Abbey head of mortgages join Platform.
Repossession fall in Q1 2010

13 May 2010

CML says both arrears and repossessions lower than in last quarter of 2009.
Societies fear capital rules

13 May 2010

Proposed changes to capital requirements sparked concern at the BSA conference, reports Paul Thomas
Societies voice concerns over dangers from MMR

13 May 2010

Building society chiefs expect to see a prolonged period of house prices showing little growth or slight falls, according to a Building Societies Association survey.
Towergate postpones debt refinance plans

13 May 2010

Firm says deterioration of debt markets led to postponement.
Accord launches larger loan mortgage range

12 May 2010

Range includes mortgages for loans up to £1.5m.
Aldermore reveals mortgage product range

12 May 2010

Range includes residential and buy-to-let mortgages.
BSA welcomes Govt plans to promote mutuals

12 May 2010

Trade body welcomes Government plans to bring forward banking reform.
FSA may survive Tory banking shake-up

12 May 2010

Tory aide says FSA might survive banking regulation changes.
Lloyds ask for repayment proof for interest-only

12 May 2010

Bank no longer accepts sale of main residence as can’t be certain of future value.
Post Office introduces new 90% LTV range

12 May 2010

Range includes two-year fixed-rate at 5.45%
FSA blocks transfer of 23 Home of Choice ARs

11 May 2010

23 ARs include 13 who are suspended or subject to compliance investigations.
Housing market bounces back in April

11 May 2010

17% of chartered surveyors report house price rises rather than falls.
EU agrees £625bn rescue package

10 May 2010

FTSE rebounds strongly this morning as EU and IMF agree deal after 12 hours of talks in Brussels.
Home of Choice ARs to trade under First Complete banner

10 May 2010

It is thought Home of Choice brand will be resurrected at some point in the future.
Home of Choice deal leaves bulk of £6m liabilities with administrator

10 May 2010

LSL chief executive says advisers will be paid all backdated and pipeline commission.
Moneygate become official Scottish Golf Union IFA

10 May 2010

The firm has also sealed a three-year sponsorship deal with the union.
TMW increases buy-to-let LTV to 80%

10 May 2010

Products include 4.69% one-year fixed rate with 2.5% fee.
Dividing lines

7 May 2010

An FSA mortgage arrears handling review has brought calls for a clearer division between lenders and third-party administrators. Paul Thomas reports
House prices stable in April

7 May 2010

Halifax says house prices in April 6.6% higher than a year ago.
Home of Choice favours LSL bid

6 May 2010

Home of Choice was in talks with preferred bidder LSL Property Services as Money Marketing went to press, a move that angered The Money Group, which had tabled a rival bid.
BSA slams FSCS for penalising the prudent

5 May 2010

Chairman Beale says FSCS levy is unfair on societies because they rely on retail funding.
Building societies and FSA in row over capital vehicles

5 May 2010

The Building Societies Association says its legal advice contradicts regulator’s stance on PIBs.
Home of Choice announces roadshow details

4 May 2010

Shows to clarify questions HoC have regarding delayed payment, new owners and pipeline information.
LSL emerges as Home of Choice preferred bidder

4 May 2010

HoC board did not support The Money Group’s bid as not supportive of staff and business.
Mutuals' gross lending up 36%

4 May 2010

Gross lending for mutuals up from £1.2bn in February to £1.6bn in March.
The Money Group slams Home of Choice over takeover decision

4 May 2010

Managing director Tony Murtagh says his deal would guarantee payment of creditors.
BSA slams FSA's "illogical" process on new regulations

30 Apr 2010

Trade body says approved persons regime for mortgage advice could have to be ammended soon after it is introduced.
Direct-only mortgage deals rise to over 50% of market

30 Apr 2010

Direct only products account for over 50% of market, compared to 22% in 2007.
Brokers slam lenders for refusing clients with perfect credit scores

30 Apr 2010

Brokers have hit out at lenders for rejecting borrowers with perfect credit reports.
Paragon of virtues

30 Apr 2010

London stockbroker firm Arden Partners caused a wave of excitement in the buy-to-let sector when it issued an analyst’s note stating that Paragon could be “weeks away” from a return to new lending.
Barclays announces £1.82bn Q1 pre-tax profit

30 Apr 2010

Barclays has announced a pre-tax profit of £1.82bn for the three months ending March 31, an increase of 47 per cent from the same period in 2009.
Home of Choice ARs warned on fast-track reauthorisation

30 Apr 2010

HomeLoan Partnership warns Home of Choice appointed representatives to “look before they leap”.
Largemortgageloans.com gains funding for multi-currency offset mortgage

29 Apr 2010

A private bank has provided the lender with funding for multi-currency offset
Capstone could be in line for MBO

29 Apr 2010

The management of Lehman Brothers’ mortgage administrator subsidiary company Capstone Mortgage Services could be planning a buyout of the firm, Money Marketing understands.
Home of Choice to enter administration

29 Apr 2010

Network files for administration after takeover talks collapse at the last minute.
Santander profits jump 15% in Q1

29 Apr 2010

Santander has recorded a 15 per cent increase in profits in the first quarter of 2010, with the Spanish bank recording a £426m pre-tax profit.
Carby favourite to buy Home of Choice

29 Apr 2010

Home of Choice is in acquisition talks as it looks to secure its future.
Brokers call for split mortgage products

29 April 2010

Advisers have urged intermediary lenders to follow HSBC’s launch of a split loan mortgage, which allows borrowers to fix a proportion of their mortgage and track the bank rate with the remainder.
FSA makes public warning against Carmody & May

29 April 2010

The FSA has warned consumers against dealing with Carmody & May, the firm set up by ex-Mortgage Times directors Paul Carmody and Chris May on the same premises as the defunct network.
Ship figures show fall in equity release

29 April 2010

Equity-release lending fell by 13 per cent in the first quarter of this year to £213.4m from £244.7m in the same period in 2009, according to figures from Ship.
FSA warns against doing business with Carmody & May

27 Apr 2010

Regulator says redress not available for those who do business with firm run by the former Mortgage Times directors
Banks' mortgage lending increases 4.5% year-on-year

27 Apr 2010

Major banks account for two-thirds of UK mortgage lending.
Two firms in the hunt to acquire Home of Choice

27 Apr 2010

A second investor is understood to have entered talks to acquire the mortgage network.
Fixed rates fall to lowest levels since April 2007

27 Apr 2010

Average two-fixed has fallen by 3.36 per cent.
HSBC launches fix-track split mortgage

26 Apr 2010

Borrowers can fix some of their mortgage and leave remaining percentage variable.
Advisers to gain commission from Paradigm law firm partnership

23 Apr 2010

Law firm Ison Harrison gives advisers access to online divorce service
Godiva slashes buy-to-let rates

23 Apr 2010

Two-year fixed-rate buy-to-let mortgage reduced by 0.15 per cent.
Wholesale changes

23 Apr 2010

Paul Thomas reports on the Conservative proposals that have created major concern in the mortgage market.
HML puts 164 staff at risk of redundancy

22 Apr 2010

Scarborough site to close as firm looks to trim down workforce.
AfI launches broker exclusive 90% two-year fixed-rate

22 Apr 2010

Mortgage available from April 23.
Paragon may be close to a return to new lending

22 Apr 2010

Stockbroker Arden Partners has told investors that buy-to-let specialist Paragon could be “weeks away” from a return to new lending.
Brokers angry as Rock sets up direct site with 'advice'

22 April 2010

Brokers have hit out at Northern Rock’s decision to launch a new direct-only mortgage website which claims to offer “helpful advice” to borrowers.
Northern Rock CFO steps down due to FSA investigation

21 Apr 2010

David Jones has left the company with immediate effect to concentrate on the ongoing FSA investigation.
Tesco to offer mortgages by end of year

20 Apr 2010

Supermarket giant’s banking subsidiary acquires new premises for financial services.
CML urges parties to go further on stamp duty and funding

20 Apr 2010

Trade body says addressing the funding gap is one of the biggest challenges for the new government.
L&G launches no credit score fixed rate

20 Apr 2010

The mortgage club has launched product in conjunction with Hanley Economic Building Society.
Hamptons announces strongest house sales since May 2007

20 Apr 2010

Estate agency says levels reached highest since the ’peak’ of 2007.
FSA investigates ex-Northern Rock finance director

19 Apr 2010

Ex-finance director David Jones is understood to be centre of investigation after former colleagues fined, according to reports.
XIT2 announces asset management service launch

19 Apr 2010

Online property data network launches service as part of structural overhaul.
Perspective appoints Wilkinson as group practice director

19 Apr 2010

Ian Wilkinson continues to be Rutherford Wilkinson managing director.
Warning new European regulations could constrain lending activities

16 Apr 2010

Standard & Poor’s says Basel III proposals could create unintended consequences for the sector.
L&G launches desktop mortgage application

16 Apr 2010

The software alerts advisers to new mortgage products.
C&G Intermediaries increases rates across HomeMover range

16 Apr 2010

Lender also increases maximum amount for mortgage porting, rising from £0.5m to £1m.
Ship slams Govt's 'inconsistent' advice to consumers

16 Apr 2010

Equity release body says the Department of Work and Pensions guidlines for older people are “confusing”.
Differentials thwart FTBs

16 Apr 2010

Paul Thomas reports that first-time buyers are still being kept out of the market by LTV pricing
GEMHL launches deals for borrowers with minor credit defaults

15 Apr 2010

Lender denies this is a return to sub-prime lending.
Sub-prime repossessions drop to August 2005 low

15 Apr 2010

Delinquencies in transactions issued by Preferred and Money Partners have increased.
Abbey Intermediaries plans packaging reward for brokers

15 April 2010

Abbey for Intermediaries is to introduce a “carrot and stick” initiative that aims to reward efficient brokers who package their applications correctly.
KMC to pay £2.2m for failings over arrears

15 April 2010

The FSA has fined a second client of third-party mortgage servicer HML for poor treatment of customers in mortgage arrears.
Loan approvals up 12% in February

13 Apr 2010

The number of home purchase loan approvals increased by 12 per cent to 35,000.
GMAC sells European mortgage book to asset manager

13 Apr 2010

The deal signals the lender’s exit from Europe.
House prices fall slightly in Feb

13 Apr 2010

Govt figures show prices fell 0.1 per cent in February but up 7.4 per cent year on year.
Chelsea BS drops arrangement fees on 85% LTVs

13 Apr 2010

Move aimed at attracting first-time buyers.
Legal & General announces ING Direct mortgage pilot

13 Apr 2010

L&G in deal to distribute ING Direct range of mortgage products.
Homeowners wishing to sell reaches May 2007 high

13 Apr 2010

RICS survey shows homeowners wishing to sell reaches highest level in three years.
Labour manifesto: New bank levy to fund more affordable lending

12 Apr 2010

Labour to tax banks to increase access to affordable lending.
Blackstone and Wellcome team up for RBS branches

12 Apr 2010

US private equity giant and charity launch a joint bid for the state-backed bank’s 318 branches
Labour manifesto: Northern Rock to be remutualised

12 Apr 2010

Labour announces plans to remutualise the Government-backed bank
Halifax Intermediaries fixed-rate range to favour repayments

9 Apr 2010

Amendments to the lender’s fixed-rate range rewards those choosing repayment mortgages
House prices reach August 2007 levels

9 Apr 2010

After eleven consecutive months of house price rises, the average price reaches August 2007 levels
Godiva slashes buy-to-let tracker rate

9 Apr 2010

Godiva has slashed its two-year buy-to-let tracker by 0.5 per cent
TMA to offer semi-exclusive tracker deals

9 Apr 2010

The mortgage club is to offer semi-exclusive deals from Abbey for Intermediaries
Guiding frights

9 Apr 2010

The BSA is concerned about the FSA’s new proposals for society supervision, reports Paul Thomas
BoE keep base rate at 0.5% for 13th consecutive month

8 Apr 2010

The Monetary Policy Committee keeps base rate and fiscal stimulus programme unchanged.
Caught in the middle

2 Apr 2010

A new HMRC scheme to tackle mortgage fraud could cause problems for IFAs, reports Paul Thomas
BSA confused by FSA risk 'straitjacket'

1 Apr 2010

The Building Societies Association has slammed the FSA’s latest guidelines.
Metro Bank joins CML

30 Mar 2010

The CML now has 110 members and 76 associates.
House prices up 0.7 per cent in March

30 Mar 2010

Nationwide survey finds house prices increased 9 per cent since March 2009.
Manchester BS loses £2.5m in Network Data collapse

30 Mar 2010

The society lost £2.5 in Network Data shares in a deal made with the network in 2008
HML to axe over 100 jobs

30 Mar 2010

The third party servicer will decide which roles will go in April.
Mortgage approvals lowest since May 2009

30 Mar 2010

The number of mortgage approvals in February were lower than the previous six-month average.
Treasury to review proposed changes to buy-to-let regulation

29 Mar 2010

The Treasury says it will reconsider some of the changes to buy-to-let regulation
Woolwich replaces telephone funds booking system

29 Mar 2010

Lender says new system is not a response to broker complaints about the old system.
Conveyance conundrum

26 Mar 2010

Paul Thomasreports on why the CML’s plea for tough solicitor regulation has been rejected by the SRA
Darling fails to fix flaws in housing

26 Mar 2010

Mortgage experts have attacked the Government’s housing market proposals set out in the Budget, saying they show a lack of understanding of the market.
Stroud & Swindon losses increase 71% to £5.8m

25 Mar 2010

The building society posted pre-tax loss of £5.8m, compared to pre-tax loss of £3.4m in 2008
BUDGET 2010: Govt to force state-backed banks to lend £94bn

24 Mar 2010

The Chancellor has set RBS and Lloyds lending target of £94bn for the coming year, half to SMEs.
BUDGET 2010: Stamp duty threshold doubled - rate hiked for £1m homes

24 Mar 2010

The Chancellor Alistair Darling is to double the stamp duty threshold from £125,000 to £250,000 for this year and next for first-time buyers but the rate for properties worth more than £1m is to increase to 5 per cent.
BUDGET 2010: Darling could increase stamp duty threshold to £250,000

24 Mar 2010

The Chancellor may abolish the stamp duty threshold for first time-buyers on house purchases under £250,000.
Finance Bill could allow FSA to name and shame firms earlier

23 Mar 2010

The identities of firms under FSA investigation could be revealed earlier if the Financial Services Bill is passed.
Stroud & Swindon announces Coventry merger

23 Mar 2010

Stroud’s board announce merger which will take effect from September 1.
Darling to launch new offshore crackdown

23 Mar 2010

The Chancellor is expected to announce tough new measures on offshore tax evasion in tomorrow’s Budget.
Dunfermline unveils IFA service

23 Mar 2010

Customers can access whole-of-market independent financial advice throughout Dunfermline branches.
MoJ confirms Grass Roots investigation

22 Mar 2010

Claims management firm shares the same offices as suspended Cartel Client Review
Budget will be "workmanlike," says Darling

22 Mar 2010

The Chancellor says Wednesday’s budget will contain no “give-aways” and no VAT rise.
Tories would introduce unilateral bank levy

22 Mar 2010

Conservative leader says bank levy will happen whether or not other countries agree similar levies.
Bradford & Bingley reports £196m pre-tax loss

19 Mar 2010

The bank reported a pre-tax loss of £196m in 2009, compared to a £278m loss in 2008
Stroud & Swindon temporarily pulls higher LTV products

19 Mar 2010

Lender pulls ITL Mortgages high LTV product range so as not to exceed business levels.
Virgin Money chief's pay nearly slashed in half

19 Mar 2010

Chief executive Jayne-Anne Gadhia’s total pay falls from £1m in 2008 to £609,000 in 2009
Exit strategy

19 Mar 2010

As Stonehaven Equity Release becomes the latest provider to suspend lending, Paul Thomas looks at the wider implications for the sector
Ricky Okey to leave Santander

19 Mar 2010

Abbey for Intermediaries managing director Ricky Okey is to leave Santander and will be replaced to Alan Matthewson.
Scottish MPs urge OFT to investigate banking competition

19 Mar 2010

A committee of Scottish MPs calls on OFT to look at competition for mortgages, current accounts and business lending.
SRA slams CML call for tighter rules to curb fraud

19 Mar 2010

The Council of Mortgage Lenders and the Solicitors Regulation Authority are at loggerheads after the CML called for tighter regulation to combat solicitors’ involvement in mortgage fraud.
Banks are committed to repaying the taxpayer

18 Mar 2010

British Bankers’ Association chairman tells Lord Myners banks should not be a burden on society.
Lending rises 6% in February, say CML

18 Mar 2010

Gross mortgage lending increased to £9.2bn in February
Confidence in the property market fragile, says BSA

17 Mar 2010

Just 49 per cent of people surveyed agree now is a good time to buy a property
Northern Rock appoints new chief financial officer

16 Mar 2010

Former Lloyds financial director Jim McConville joins next month.
Repossessions at lowest level since 2008

16 Mar 2010

The FSA’s latest Statistics on Mortgage Lending show repossessions down 15 per cent in the last quarter of 2009.
National Fraud Authority warns against rise in mortgage fraud

16 Mar 2010

New report calls for joint public-private effort to combat new mortgage fraud threats.
Norwich & Peterborough profits fall 78%

15 Mar 2010

The building society’s profits fell from £5.9m in 2008 to £1.3m in 2009
RBS hits critical payout borrower with £3,500 penalty

12 Mar 2010

Royal Bank of Scotland has come under fire for slapping a £3,500 early redemption penalty on a critically-ill borrower.
Is fast track proving its worth?

12 Mar 2010

Paul Thomas reports that a mortgage performance survey has encouraged fast-track supporters
Aldermore loans offer new hope for brokers

11 March 2010

Snowdon: ’Clients turned away’
Coventry in merger talks with Stroud & Swindon

11 March 2010

Coventry and Stroud & Swindon building societies have revealed they are in talks over a possible merger.
State banks fail to pass on low rates

11 March 2010

Some of the state-backed banks are not passing competitive mortgage rates to borrowers despite being given billions of pounds from taxpayers, according to figures from Moneyfacts.co.uk.
Stonehaven suspends equity-release business

11 March 2010

Stonehaven has become the latest provider to suspend equityrelease lending.
State-backed banks not passing competitive rates to taxpayer

9 Mar 2010

Government supported banks charging higher than average mortgage fees, according to Moneyfacts research.
TMW launches guarantor mortgage range

9 Mar 2010

Borrowers can choose from a number of limited and full liability products.
FSA cancels broker's permissions

5 Mar 2010

Oke Hassan failed to respond to several requests to pay £1,042 in regulatory fees
Clapper acquires stake in Viva Costa

5 Mar 2010

Ex-Enterprise founder and group chief executive re-enters broker services market in Viva Costa deal.
Under warranty

5 Mar 2010

Paul Thomas measures industry reaction as Halifax scrap its guarantor mortgage for brokers
London & Country launches one minute life insurance check

4 Mar 2010

The new tool will help customers determine if they are paying too much for their life insurance.
House prices fell 1.5 per cent in February, says Halifax

4 Mar 2010

House prices fell for the first time since June 2009 after seven consecutive monthly increases.
Chelsea and Yorks £40m losses as merger nears

4 March 2010

Yorkshire Building Society and Chelsea Building Society, which are in the process of merging, have posted combined losses of nearly £40m.Yorkshire made a loss of £12.5m in 2009 compared with losses of £22m for 2008 while Chelsea revealed a loss of £27.1m, compared with a loss of £39m in 2008.
Chesham deal for Skipton as profits rocket

4 March 2010

Cutter: ‘We remain vigilant’
RBS beats downbeat forecasts with loss of £3.6bn

4 March 2010

Royal Bank of Scotland produced a better than expected result with a £3.6bn loss for last year.
Turner warns there is no easy prescription for product regulation

3 Mar 2010

The FSA is still grappling with the extent to which product regulation should be introduced.
Nationwide for Intermediaries to introduce new lending assessments

3 Mar 2010

Nationwide for Intermediaries has altered the way it calculates lending assessments by replacing the current income multiplier element of its assessment with a new calculation it says is more tailored to a client’s individual circumstances.
Coventry building society reports pre-tax profit of £56.2m

2 Mar 2010

The society increased pre-tax profit 115 per cent from £26.4m in 2008.
3DCM introduces mortgage interest rate cap

1 Mar 2010

Cap insures protection against base rate increases.
Brokers being used to commit mortgage fraud

1 Mar 2010

UK’s fraud prevention service says fraudsters are using intermediaries to help them carry out their crime.
FSA launches three separate investigations into RBS

26 Feb 2010

The City regulator will look into the ABN AMRO takeover, compliance with money laundering regulations and complaints handling.
Nottingham building society reports £1.9m loss in 2009

26 Feb 2010

The lender reports loss after profit of £0.5m in 2008
House prices rose by 2.1 per cent in January, says Land Registry

26 Feb 2010

Second month in a row the figure has been positive means average house price now £165,008
Societies face falling into funding gap

26 Feb 2010

Moody’s warning on the scrappage of Government mortgage support schemes sparks fears as to what the future holds for smaller societies, reports Paul Thomas
UKFI approves RBS bonus pool

25 Feb 2010

RBS bonus pool approved despite £3.6bn loss.
Yorkshire and Chelsea building societies post combined losses of £40m

25 Feb 2010

Yorkshire posted losses of £12.5m, while Chelsea posted losses of £27.1m for 2009 as their merger proceeds.
Aifa wants to know legal basis for levy

25 Feb 2010

’Regulator should have stepped in far sooner’
Fos criticises lenders over debt agencies

25 February 2010

The Financial Ombudsman Service has hit out at lenders which insist on involving a debt advice agency with customers who are experiencing financial hardship, even when this is not what the client needs.
Knight firm rebrands and recruits ex-FSA director

25 February 2010

Checkmate Mortgages has appointed former FSA director Ronnie Baird and ex-Stroud & Swindon chief executive David Hill to its board as it rebrands to Portillion.
Law firm probes Skipton ceiling contract clause

25 February 2010

Law firm Leon Kaye has launched an investigation into the legal implications of Skipton Building Society’s decision to scrap the ceiling on its standard variable rate.
Lending falls to lowest level in 10 years

25 February 2010

Gross mortgage lending fell to its lowest level for nearly 10 years in January, according to the Council of Mortgage Lenders.
OFT sees conflict in cash for referrals from estate agents

25 February 2010

The Office of Fair Trading says the Government should consider a ban on referral fees between mortgage brokers and estate agents to combat potential conflicts of interest.
Stockbrokers misled clients on penny shares

25 February 2010

FSA takes action in small-cap sector
A&L to launch £5.5bn RMBS

24 Feb 2010

Alliance & Leicester is to become the fourth UK bank to launch a residential mortgage backed security since the financial crisis, believed to be in the region of £5.5bn.
Goldman Sachs admits currency swaps role in Greek crisis

23 Feb 2010

Chairman Gerald Corrigan says it is possible the UK was involved in similar deals.
Newcastle launches 90% LTV range

22 Feb 2010

New mortgage range targets first-time buyers.
RPS appoints new managing director

22 Feb 2010

Pete Thomson promoted to MD of sale and rent back firm.
Abbey for Intermediaries launches new broker division

22 Feb 2010

Associate Accounts offers commercial arrangement to select brokers.
Ex-FSA director and Stroud & Swindon chief join as Checkmate rebrands

22 Feb 2010

Firm also signals intention to collect retail deposits by the appointment of a savings director.
FOS hits out at lenders using debt-advice firms

19 Feb 2010

FOS says insisting on using debt-advice firms may delay resolution.
Return to lender

19 Feb 2010

The remortgage market is making a comeback, says Paul Thomas, but in a very different, almost European, form to the aggressive pre-credit crunch model
Woolwich tranche system 'worse than getting Glastonbury tickets'

19 Feb 2010

Brokers are still having problems getting funding through the Woolwich’s intermediary tranche system.
Law firm probes Skipton SVR hike

18 Feb 2010

Solicitors investigate legal implications of Skipton scrapping its SVR ceiling.
OFT urges action on broker referral fees

18 Feb 2010

OFT says Government should consider ban on broker to estate agent referral fees.
January lending falls to 10-year low

18 Feb 2010

Gross lending falls 32 per cent from December when borrowers had looked to beat stamp duty holiday
CML forecasts repo rise continuing for years

18 February 2010

The Council of Mortgage Lenders is predicting “a bulge” in repossessions lasting for the next few years rather than a one-off spike.
Lender bodies oppose BTL regulation

18 February 2010

The Council of Mortgage Lenders and the Building Societies Association have urged the Treasury not to extend the scope of mortgage regulation to buy to let.
CML predicts a "bulge" in repossessions

16 Feb 2010

The CML predicts a slow increase in repossessions over the coming years
Barclays records £11.6bn pre-tax profit

16 Feb 2010

Bank posts 92 per cent pre-tax profit increase due to the sale of its investment arm.
CML warns against buy-to-let regulation

15 Feb 2010

The CML warns the Treasury against extending the scope of FSA regulation to cover buy-to-let.
Moody's warns more lenders will be forced to merge

15 Feb 2010

Many building societies will find it “increasingly difficult to survive”, warns ratings agency.
Lloyds chief Eric Daniels may get £6m in salary and bonuses

15 Feb 2010

Daniels could take home £1m basic salary plus 225 per cent in bonuses.
AMI hits out at FSA's fee hike

12 Feb 2010

Director Robert Sinclair says some mortgage firms will see an 82 per cent increase in fees.
Northern Rock cuts mortgage rates

12 Feb 2010

Northern Rock cuts selected fixed and tracker rates.
Virtual reality

12 Feb 2010

Paul Thomas asks how Google’s US online mortgage comparison portal would play out in the UK market
Housing minister slated for "insensitive" repossession comments

11 Feb 2010

John Healey has been lambasted by his Tory and Lib Dem counterparts over “insensitive comments”.
Repossessions much lower than predicted

11 Feb 2010

Repossessions in 2009 much lower than initially forecasted.
Sants quits the conflict zone

11 Feb 2010

Advisers say that FSA chief executive Hector Sants is leaving a legacy of failing to crack down on bank advice and not understanding the needs of small IFAs.
Stroud & Swindon drop-lock loan to offer penalty-free fix

11 Feb 2010

Stroud & Swindon Building Society’s intermediary arm ITL Mortgages is planning to offer a product that allows borrowers to switch to a fixed rate at any time without a penalty charge.
Industry backs calling a halt to QE programme

11 February 2010

BoE: Easing on hold
Private Finance hires Mortgageforce's Katie Tucker as chief operating officer

9 Feb 2010

Private Finance hires Mortgageforce’s Katie Tucker as its new chief operating officer.
Remortgaging cheaper than most SVRs, says Moneysupermarket.com

8 Feb 2010

Comparison website says 85 per cent of borrowers on SVR deals are better off switching.
Google moves into mortgages with US lenders

5 Feb 2010

Google has launched a mortgage lead-generation facility in the US, prompting speculation that it may make a similar move in the UK.
Debt agencies inundated with enquiries as personal debt soars

4 Feb 2010

National Audit Office warns free advice service is being stretched.
£300bn funding gap for mortgage firms

4 February 2010

’Very unlikely’ that lenders can repay cash on time
CML warns FSA must not become a price regulator

4 February 2010

The Council of Mortgage Lenders has warned the FSA against regulating charging practices such as arrears fees.
Mortgage networks under the spotlight

4 February 2010

With the demise of several high-profile mortgage networks in 2009, Paul Thomas puts the balance sheets of some of the remaining distributors under scrutiny.
Skipton blunder on client data

4 February 2010

Skipton Building Society has made a data blunder which saw over 3,000 customers’ account details sent to other customers.
Tories free financial advice to cost industry £50m a year

3 Feb 2010

New “social responsibility levy” on industry would pay for free advice service.
Tories pledge to scrap annuitisation at 75 and hike stamp duty threshold

2 Feb 2010

Shadow Chancellor George Osborne announces the Conservative Party’s economic plans.
Skipton blunder reveals account details of 3,000 customers

2 Feb 2010

Building society admits data blunder which saw customer account details sent to other customers.
Kent Reliance appoints new chairman

1 Feb 2010

Kent Reliance Building Society has appointed Malcolm McCaig as their new chairman.
Which? launches money helpline

1 Feb 2010

Which? has launched a free money helpline to provide personal finance advice for its members.
Personal Touch to charge advisers £125 fee

29 Jan 2010

Personal Touch Financial Services is to charge appointed representatives a £125 flat fee from April 1.
CML warns FSA not to be a "price regulator" on arrears charges

28 Jan 2010

CML cautions against FSA interference in arrears and other charges.
Brokers hit the roof over Skipton ceiling

28 January 2010

‘Lenders reneging on deals is a worrying trend’
New firm targets mortgage brokers with estate planning service

27 Jan 2010

The Asset Protection Strategy, offering brokers and advisers training in asset protection which they can run alongside their normal business practices.
King says Govt must remove bail-out expectation

26 Jan 2010

Bank of England governor tells MPs reform is needed to stop a future crisis.
Nationwide ups SVR on TMW and UCB mortgages

25 Jan 2010

Nationwide is to increase standard variable rates by between 0.3 and 0.5 per cent on mortgages from its specialist lending arms, The Mortgage Works and UCB Homeloans.
Skipton boss says Govt policy could force others to hike SVRs

22 Jan 2010

Skipton chief David Cutter says competition from Government-backed banks could force other lenders to increase SVRs.
Mortgage Times' reps slam directors over new venture

22 Jan 2010

Former appointed representatives of Mortgage Times have hit out at company directors Chris May and Paul Carmody for setting up a new financial planning venture on the same premises as the defunct network.
Virgin territory

22 Jan 2010

With Virgin’s Church House deal set to shake up retail banking, speculation is rife as to how this will play out in the intermediary channel.
Brokers slam Skipton SVR move

21 Jan 2010

Brokers say scrapping the SVR ceiling could undermine consumer confidence.
'Banks are getting too big for their own country'

21 January 2010

Professor Charles Goodhart has warned MPs of the danger of international banks growing too large in comparison to the economy of their home country.At a Treasury select committee session on Tuesday, Goodhart, from the London School of Economics, said policymakers had two main options available to them to limit the impact of international banking collapses.He said: “The first answer is to try and get some kind of international agreement on burden sharing if you ...
Quantum Money brokerage closes

21 January 2010

Central London mortgage brokerage Quantum Money has shut down.The firm is no longer authorised by the FSA and administrator Carter Clark has been appointed.Last summer, Quantum partner Fahim Antoniades left to join Mortgage Centre IFA as group director.Quantum managing director Jonathan Burridge says he expects to see a significant number of adviser businesses go under in 2010.He says: “I would imagine we are going to see the number of ...
Skipton to scrap SVR ceiling and hike rate

20 Jan 2010

Skipton Building Society is to scrap the ceiling on its standard variable rate meaning it will rise from 3.5 per cent to 4.95 per cent from March 1, Money Marketing understands.
Northern Rock renews sponsorship of Newcastle Utd

18 Jan 2010

Northern Rock says the tie-up is apt as the bank and football team are in “a similar position” given recent difficulties.
Will Virgin bank sell through brokers?

15 Jan 2010

Brokers say it not clear if they will benefit from Virgin Money’s entry into the banking sector.
Comparethemarket.com may bring in loan sourcing system

14 January 2010

Comparethemarket.com is tipped to be planning a mortgage sourcing system which will provide brokers with customer leads.Customers are currently transferred to broker London & Country after filling in details on the website.However, it is thought that the comparison website is looking to use a sourcing system which would pass customers on to a panel of brokers who would be charged to be involved in the process.First Action Finance head of communications ...
Santander UK appoints new director of mortgages

13 Jan 2010

Santander UK director of mortgages Nici Audhlam-Gardiner has been appointed director of banking within the company and will be replaced by Phil Cliff.
Northern Rock says it could take 20 years to repay Govt loan

13 Jan 2010

Northern Rock chief executive Gary Hoffman told MPs that it could take up to 20 years to clear “bad bank” Northern Rock Asset Management’s mortgage book and repay the Government loan.
RBS says it approves 90% of mortgage applicants

13 Jan 2010

Royal Bank of Scotland chief executive Stephen Hester told MPs yesterday that the bank approves 90 per cent of mortgage applications.
OFT raps mortgage firm over bankruptcy annulment services

Online - October 2009

OFT finds three associated firms not transparent with customers.

Money MarketingPaul Thomas Editorial

Money Marketing
Paul Thomas Editorial