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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
Smart Money Loans sees loan size nearly double in Scotland
Smart Money Loans, the secured loan distributor with offices in both England and Scotland, has reported a sharp increase in the average value of Scottish loans in 2013 as new business soars.
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
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
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
- 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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