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.
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.
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.
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.
According to recent figures, the number of UK transactions in April rose 12% annually and by 4% since March, reportedly due to increased access to funding for buyers.
Loans & Lending News
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
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.
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
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.
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.
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.
Fincorp has announced it is boosting its lending down in Brighton and Sussex after hosting a successful roadshow at the Hove Club in the city.
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
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
The Investment Management Association today publishes its monthly authorised investment fund statistics for March 2013:
Surveying & Conveyancing News
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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Gary Little's Blog: Assurant Intermediary
"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...."
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