Old Mutual has called on the FCA to reverse its decision not to create a standalone equity release qualification for financial advisers. The call follows figures published today from the Equity Release Council which show a record quarter for equity release activity in Q4 2017. The total amount of housing wealth unlocked by over-55 homeowners […]
Competitive rates and ambitious landlords are driving a growing focus on remortgaging among buy-to-let lenders, according to experts. Figures issued by broker Mortgages for Business show that 66 per cent of buy-to-let loans were for remortgages in the first quarter of 2015, up from 62 per cent at the end of 2014. Remortgages have now […]
The Council of Mortgage Lenders’ gross mortgage lending target looks set to be missed this year as the market becomes more subdued, say industry experts. In December the CML forecast gross lending of £222bn in 2015, up by 8.8 per cent from £204bn last year, and rising to £240bn in 2016. But in a “state […]
The Government’s Help to Buy Isa may fail to help first-time buyers and could be open to abuse, industry experts warn. Chancellor George Osborne announced in the Budget last week that for every £200 saved, the Government will top it up with £50. The bonus is available on homes up to £450,000 in London and […]
TSB Intermediary has expanded its mortgage range to include remortgage deals. The bank is initially launching a 10-year fixed rate product and a five-year fix, and says it will roll out further remortgage products over the coming weeks. It is launching a 10-year fix at 3.19 per cent at 60 per cent LTV with no […]
Industry casts doubt on concerns that the Bank of England is about to cut interest rates and instead welcomes the effects of a short-term boost in consumers’ spending power
Lenders have some way to go in order to fall into line with brokers’ ‘market rate’.
TSB is launching a range of 95 per cent LTV mortgages for the first time. The new range will initially only be available to customers applying direct, and will be opened up to intermediaries later in the year. TSB previously lent a maximum of 90 per cent LTV, and says it is the only lender […]
The disruption caused by MMR is largely behind us but it is not all plain sailing from here.
Two former executives of broker Martin Brokers have been fined and banned from holding influential roles at regulated firms for their part in the Libor manipulation scandal. The FCA found former chief executive David Caplin and ex-compliance officer Jeremy Kraft “contributed to a culture at Martins that permitted Libor manipulation to take place and enabled […]
May’s general election is an enticing prospect for the mortgage market.
One principal issue remains unsolved.