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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
IBB lowers Sharia-compliant HPP rate to 3.99%
Islamic Bank of Britain, the UK’s only wholly Sharia compliant retail bank, has lowered the rates for its Sharia compliant Home Purchase Plans by launching a new discounted variable product available with a rental rate of 3.99%.
Loans & Lending News
Secured lending breaks £40m barrier for first time in three years
The latest Secured Loans Index from Loans Warehouse has shown that secured lending has this month broken the £40,000,000 barrier for the first time in over 3 years.
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
UK inflation drops to seven-month low of 2.4%
The Consumer Prices Index grew by 2.4% in the year to April 2013, down from 2.8% in March, according to the latest data from the Office for National Statistics.
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
Assurant Intermediary launches B&C Quick Quote facility
Specialist general insurance provider Assurant Intermediary today announces the launch of a new Quick Quote facility solution to help brokers generate buildings and contents insurance quotes quickly and conveniently.
Business News
Paragon announces strong growth - buy-to-let up 15%
Paragon Mortgages’ parent company, The Paragon Group of Companies PLC, today announced its half-year results for the six months to 31 March 2013.
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
Bridgewater survey reveals customers still misunderstand equity release
Advisers active in the equity release sector are still having to work hard to allay a significant number of misconceptions held by clients about the products when they offer their advice and recommendations.
Investments & Offshore News
Over £1bn invested in ISAs via funds over last 12 months
The Investment Management Association today publishes its monthly authorised investment fund statistics for March 2013:
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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recent blog posts
- 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
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- Working with specialist lenders
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