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The CML estimates that total gross mortgage lending in May increased to £14.7 billion.
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May was the cheapest month for fixed rate mortgages since the onset of the financial crisis according to the latest National Mortgage Index from Mortgage Advice Bureau.
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New Which? research suggests that, as mortgage fees spiral, 99.5% of homeowners and homebuyers struggle to identify the total cost of a mortgage deal.
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The FCA has fined sale and rent back arranger Gurpreet Singh Chadda £945,277 and banned him from working in the financial services industry..
Mortgage News
Mortgage lending hits highest level since Oct 2008
The Council of Mortgage Lenders estimates that total gross mortgage lending in May increased to £14.7 billion, representing a rise of 21% from £12.2 billion in April and 17% higher than the total of £12.6 billion in May 2012.
Loans & Lending News
Advertising Standards Agency cracks down on payday lender
The Advertising Standards Agency forced payday lender First Financial, trading as First Payday UK, to pull adverts after concerns they were misleading to consumers.
Commercial Finance News
Fincorp becomes first bridger on Avelo Trigold Prospector
Fincorp is the first bridging lender to be listed on the Avelo Trigold Prospector platform after signing a deal that could see bridging start to become much more mainstream.
Economy News
MPC unanimous on bank rate - but once again split over QE
In the minutes of the Monetary Policy Committee meeting held on 5th & 6th June, it is revealed that while committee members were unaninmous over maintaining the bank rate at 0.5%, they were divided over the asset purchase scheme.
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
FCA issues fine of almost £1m to sole trader who misled customers
The FCA has fined sale and rent back arranger Gurpreet Singh Chadda £945,277 and banned him from working in the financial services industry for significant failings when conducting sale and rent back agreements.
Insurance News
Paradigm reports hike in insurance sales in early 2013
Paradigm Mortgage Services, the mortgage services proposition, has reported a significant increase in the amount of general insurance cases it has placed through Select & Protect in the first months of 2013.
Business News
Key Retirement Solutions sold in £35m deal with private equity firm
Phoenix Equity Partners, a UK middle-market private equity firm, today announced its acquisition of a majority stake in Key Retirement Solutions Ltd for £35m, including £2m of cash held on balance sheet, from Cabot Square Capital.
Technology News
Mortgage Brain launches iPad sourcing app for brokers
Technology solutions provider Mortgage Brain has expanded its range of mobile technology solutions with the launch of ‘iSourceMortgages’, the industry’s first iPad pre-sales mortgage app for brokers.
Equity Release & Pensions News
Bridgewater lines up four equity release masterclasses
Bridgewater Equity Release, the home reversion specialists, has today outlined details of its next four Equity Release Advice Masterclass sessions taking place in the second half of 2013.
Investments & Offshore News
Rental yields decrease as house prices grow faster than rents
Two and three bedroom properties see the greatest increase in average monthly rent
Surveying & Conveyancing News
The Furness signs new deal with Gateway Surveyors
The Furness Building Society has reappointed Gateway as its panel manager and primary valuation supplier.
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