Latest News

Government refunds £127m stamp duty tax on second homes

Government refunds £127m stamp duty tax on second homes

The government has issued 6,800 refunds to homeowners who have paid higher stamp duty tax on their second property after the April 2016 changes, but have since gone on to sell their first home.

31 Jul 2017

Buy-to-let product numbers soar as rates plateau

Buy-to-let product numbers soar as rates plateau

Buy-to-let mortgage rates still falling, but at a slower pace, research from Moneyfacts shows.

31 Jul 2017

Nigel Payne steps down as MD of TFC

Nigel Payne steps down as MD of TFC

TFC Homeloans has confirmed that its managing director, Nigel Payne, has left the company.

31 Jul 2017

Stamp duty payments rise 17% to £8.3bn

Stamp duty payments rise 17% to £8.3bn

Homebuyers in England and Wales paid £8.3 billion in stamp duty in 2016 - £1.2 billion more than in 2015, according to Lloyds Bank research. This rise reversed the £571 million decline between 2014 and 2015, which resulted from the stamp duty reforms that came into place in December 2014.

31 Jul 2017

76% of advisers recommend private surveys over lender reports

76% of advisers recommend private surveys over lender reports

Over three quarters (76%) of advisers recommend taking out private surveys when purchasing or remortgaging a property, according to TMA Mortgage Club research.

31 Jul 2017

Remortgaging activity rebounds to winter levels: BoE

Remortgaging activity rebounds to winter levels: BoE

Total mortgage approvals increased from 121,626 in May to 122,765 in June - the highest figure recorded since February, according to the latest Bank of England Money and Credit figures.

31 Jul 2017

320,000 to pay off mortgage with pension cash

320,000 to pay off mortgage with pension cash

Around 320,000 homeowners aged 51-65 are planning to use money from their pensions to pay off their home loans, according to Just research.

31 Jul 2017

FCA considers extending high-cost credit price cap

FCA considers extending high-cost credit price cap

Following the introduction of the payday loan price cap, the FCA is considering extending the rules to other forms of high-cost credit.

31 Jul 2017

FCA to scrap LIBOR rate by 2021

FCA to scrap LIBOR rate by 2021

The FCA has announced that the LIBOR rate will be scrapped by 2021, as it is a "less useful benchmark than it used to be".

28 Jul 2017

In the Spotlight with Matt Andrews, Masthaven

In the Spotlight with Matt Andrews, Masthaven

We spoke to Matt Andrews, Mortgage Managing Director at Masthaven, about emerging technology and the growing product transfer market.

28 Jul 2017

 

Lenders, brokers, regulators – we all need to make later life borrowing mainstream

Lenders, brokers, regulators – we all need to make later life borrowing mainstream

The CML (now UK Finance) was right in its assessment of older borrowers and borrowing in later life – a new mind set is needed. The decline of defined benefit pension schemes, rising property prices and longer life expectancy has changed what later life means and the way we look at retirement.

28 Jul 2017

Coventry BS grows mortgage balances by 10%

Coventry BS grows mortgage balances by 10%

Coventry Building Society announced gross lending of £4.4 billion and net lending of £1.6 billion for the first half of 2017.

28 Jul 2017

Homebuying process to "change beyond recognition" as 93% go online: HSBC

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Homebuying process to "change beyond recognition" as 93% go online: HSBC

93% of UK home buyers are using online channels to research their property search, ahead of the global average of 83%, according to HSBC research.

28 Jul 2017

High-LTV lending continues to fall: e.surv

High-LTV lending continues to fall: e.surv

Mortgage lending rebounded in June, but loans granted to buyers with a small deposit actually fell month-on-month, according to the latest Mortgage Monitor from e.surv.

28 Jul 2017

Shawbrook outlines approach to PRA changes

Shawbrook outlines approach to PRA changes

Shawbrook Commercial Mortgages has implemented the necessary changes to its systems and processes ahead of the PRA underwriting changes which come into effect on the 30th September.

28 Jul 2017

The Nottingham enhances self-build lending criteria

The Nottingham enhances self-build lending criteria

After entering the self-build market earlier this year, Nottingham Building Society, in partnership with BuildStore Limited, has announced a number of enhancements to its self-build lending criteria.

28 Jul 2017

Barclays posts £1.2 billion loss

Barclays posts £1.2 billion loss

Barclays has reported a £1.2 billion loss or the first half of 2017, due to a £1.4 billion write down from its sale of Barclays Africa Group Limited, a £1.1 billion impairment of its holding in the African business, and a £700 million PPI charge.

28 Jul 2017

Second charge lending hits record high as sector returns to growth

Second charge lending hits record high as sector returns to growth

Annualised second charge lending has surpassed the £900m mark for the first time, after three months of consecutive year-on-year new business volume growth in March, April and May, according to Enterprise Finance data.

28 Jul 2017

Tesco Bank launches five-year fixed rate remortgage range

Tesco Bank launches five-year fixed rate remortgage range

Tesco Bank has introduced new five-year fixed rate remortgage products and reduced rates across a selection of its two, three and five year fixed rate house purchase and remortgage products.

28 Jul 2017

Bank of England appoints new COO and Deputy Governor

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Bank of England appoints new COO and Deputy Governor

The Bank of England has appointed Joanna Place as its Chief Operating Officer and announced David Ramsden as Deputy Governor for Markets and Banking.

27 Jul 2017

The fear of using the C word

The fear of using the C word

According to a new study, although cancer survival rates in the UK have increased over the years, the improvements often lag behind those of other European countries.

27 Jul 2017

OneSavings Bank launches broker Buy to Let Hub ahead of PRA changes

OneSavings Bank launches broker Buy to Let Hub ahead of PRA changes

OneSavings Bank has signed a deal with property risk software developer eTech to implement its online portfolio submission platform ahead of the PRA’s portfolio landlord underwriting standards which come into effect on 1st October.

27 Jul 2017

Newcastle and Nottingham report H1 mortgage lending rise

Newcastle and Nottingham report H1 mortgage lending rise

Nottingham and Newcastle building Societies have both reported growth in pre-tax profits and an increase in mortgage lending in their H1 results.

27 Jul 2017

FCA urged to rebrand SVR as 'expired rate' to encourage switching

FCA urged to rebrand SVR as 'expired rate' to encourage switching

Customers who are rolled onto their bank’s standard variable interest rate at the end of a fixed term mortgage deal face an average penalty of £439 a year, Citizens Advice research shows.

27 Jul 2017

Housing market remains solid post-election: MAB

Housing market remains solid post-election: MAB

Whilst some commentators had suggested that the UK housing market would see a slow-down in June due to the Election, Mortgage Advice Bureau says that "in reality, the UK housing market remained solid with very little change on the previous month".

27 Jul 2017

Lloyds to repay £283m to 590,000 mortgage arrears customers

Lloyds to repay £283m to 590,000 mortgage arrears customers

Lloyds Banking Group has announced that it will reimburse 590,000 customers who fell into mortgage arrears between 2009 and 2016.

27 Jul 2017

Magellan launches new mortgage portal

Magellan launches new mortgage portal

Magellan Homeloans has launched a new mortgage portal - Magellan Hub - which enables mortgage intermediaries to submit DIPs and full mortgage applications, in addition to tracking client cases online.

27 Jul 2017

RBS agrees alternative remedies package for Williams & Glyn

RBS agrees alternative remedies package for Williams & Glyn

RBS has confirmed that the Treasury has reached an agreement in principle with the EC Commissioner responsible for competition over an alternative package to RBS spinning off challenger bank Williams & Glyn.

27 Jul 2017

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