View more on these topics

CML reports record lending figures for April

Gross mortgage lending stood at 25.1bn last month, the highest April lending figure on record, according to the Council of Mortgage Lenders.

Lending was 16 per cent higher than in April 2005 and marks six months of record lending figures. But it was 12 per cent lower than the 28.4bn in March, which the CML puts down to market slowdown over Easter.

CML director general Michael Coogan says: “The record figures we have witnessed over the past six months illustrate that the market is in robust shape. Even so, the level of new mortgage approvals has stabilised in recent months, and we do not expect the underlying level of lending to rise from recent levels.

“In the past couple of months the interest rate picture has changed and financial markets are expecting the Bank of England to raise rates this summer. If this happens, housing and mortgage market activity is likely to slow down from the recent high levels as the year progresses.”

Recommended

High-earners could see S2P cash slashed

Aegon says the introduction of Lord Turner’s NPSS proposals could see benefits from the state second pension almost halve for mid to high-earners. Its research reveals higher-earners could see S2P benefits cut by up to 50 a week. Turner wants S2P to be downgraded, removing the earnings’ link and just paying a flat-rate benefit. Aegon […]

This week in Regulation

Bashing the FSA’s treating customers fairly regime would appear to be all the rage once again. It seems everyone is straining at the leash to knock the jewel in the FSA’s principles based crown, from top industry bosses such as Park Row chief executive Peter Sprung, to the Law Society.

Advisers told of potential flaws in Islamic loans

Advisers who offer Islamic mortgages are being warned of potential flaws compared with standard mortgages. Interest in Islamic mortgages to service the estimated 1.6 million Muslims in the UK is expec-ted to rise after the FSA last month opened a consultation on the regulation of home-purchase plans, as they are also known. The regulations are […]

Lighthouse sets up a four-day CFP crash course

Lighthouse is to offer its advisers a four-day crash course to become certified financial planners.The firm, which has over 500 advisers, plans to provide the service from September across its four brands as a way of increasing professionalism among its members.Lighthouse Wealth & Group Training director Jerry Price says the development of its bespoke technology […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment