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The Council of Mortgage Lenders estimates that total gross mortgage lending increased by 4% on March to £12.1 billion in April, but cautions that meaningful comparisons with last April are difficult.
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Total mortgage applications for April 2013 were up by more than 50% year-on-year, fuelled by a monthly spike of 10% according to the National Mortgage Index from Mortgage Advice Bureau.
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According to Rightmove's latest house price index, records are tumbling this month, with property coming to market setting a new record national average asking price.
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Four months after the implementation of the Retail Distribution Review, advisers are optimistic about the future, with 90% of those surveyed still intending to remain trading at the end of 2013.
Mortgage News
Nationwide increases mortgage lending by 17%
Over the last year ending 4 April 2013, the Nationwide Group has increased its gross mortgage lending by 17 per cent to £21.5 billion, accounting for 15.1 per cent of all UK residential mortgage lending.
Loans & Lending News
Aldermore to commence lending in Scotland
Aldermore, the British challenger bank, has announced it will start lending on residential and buy-to-let properties in Scotland with effect from Monday 10th June 2013
Commercial Finance News
73% of brokers say they would recommend 'versatile' bridging finance
United Trust Bank’s broker survey has revealed that 9 out of 10 (91%) bridging finance brokers believe that awareness of the versatility of bridging finance as a short term option has increased over the last 12 months.
Economy News
Prime Minister backs principle of CPS bank shares idea
Yesterday, the IMF suggested the Government should implement a clear strategy to re-privatise both RBS and Lloyds, saying that "any strategy should seek to return the banks to private hands in a way that maximises the value for taxpayers"
Debt & Insolvency News
Loan books unwind - but property debt increasingly polarised
Debt held against UK commercial property stood at £197.9bn at the end of 2012, a year-on-year fall of 7.7 per cent, but also revealed continued falls in the value of the worst performing assets.
Regulation News
Cash rebates only charging aspect advisers must consider part of due diligence
Today the Financial Conduct Authority confirmed that cash rebates will be banned from 6 April 2014 - unless they are passed on to the client in full in the form of additional units.
Insurance News
Holloway Friendly launches 24-hr support for income protection clients
Holloway Friendly this week launches a 24 hour advice and information service for its income protection policy holders. Advisers can access the Care First package for their clients through Holloway’s ‘member support package’.
Business News
Pitmans appointed as Tier 1 legal advisers to Metro Bank
'Banking Revolution’ architects Metro Bank have appointed Pitmans solicitors to its legal panel, in order to provide specialist advice and support to its ambitious growth strategies as they aim to radically change the shape of retail banking.
Technology News
Tenet rolls out 'social service' for advisers
Tenet has introduced a compliance-approved social media framework for its advisers, following the group’s own corporate entry into the arena earlier this year on Facebook, Linked-In, Twitter, Vimeo and Youtube.
Equity Release & Pensions News
Rural savers stash more than city dwellers
With an average savings balance in rural areas of £9,435, urban savers across all regions of England and Wales have fewer savings than their country neighbours according to research by Halifax
Investments & Offshore News
Barclays stockbrokers report strong start to the year
New analysis from Barclays Stockbrokers reveals a strong start to the new tax year for funds investing by its clients
Surveying & Conveyancing News
House prices remain stable, says ONS survey
According to the latest House Price Index from the Office for National Statistics, UK house prices increased by 2.7% in the 12 months to March 2013 up from a 1.9% increase in the 12 months to February 2013.
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Welcome to Financial Reporter the home of business financial news for financial professionals across the United Kingdom.
Rob Barnard's Blog: Aldermore
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Protecting income - a building block for financial resilience
"While there are glimmers of economic recovery on the horizon, concerns over job insecurity still top the list for many people when it comes to the things they worry about...."
Adam Tyler's Blog: NACFB
"At time of writing, I am actually out of the country, preparing for an appearance at the National Association of Asset and Equipment and Leasing Brokers. We’re looking to build closer ties with their association...."
The Editor's Blog: Amy Loddington
"..the New York Stadium in Rotherham, that is!..."
recent blog posts
- When comparison is anything but...
- Ten reasons to go ethical with investments
- UK’s appetite for owning overseas property returns with a vengeance
- Much ado about nothing
- The moving bridge
- Is it really bridging, or just expensive buy-to-let finance?
- Why cheaper mortgage rates does not equal more loans
- Protecting the consumer
- How social media is changing the world of brokers
- Making ties with the NAELB
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- MAB: Mortgage applications rocket as rates fall
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