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L&G retirement profits surge 44% in H1

L&G retirement profits surge 44% in H1

Legal & General has reported a 10% rise in first-half operating profit to £822m, boosted by strong growth in its retirement business.

09 Aug 2016

Equity release helps 32 people onto housing ladder every week

Equity release helps 32 people onto housing ladder every week

32 first-time buyers are being helped onto the housing ladder every week as a result of an equity release product, according to Retirement Advantage.

08 Aug 2016

The Mansfield launches new high-LTV rates

The Mansfield launches new high-LTV rates

Mansfield Building Society has launched a five-year fixed rate mortgage at 4.25% with no completion fee on loans up to 95% LTV in its latest round of residential mortgage updates.

08 Aug 2016

Government to make £2.7bn profit from Lloyds bailout

Government to make £2.7bn profit from Lloyds bailout

The government can now sell its remaining stake in Lloyds bank at a profit of £2.7 billion as a result of dividends, fees, and deals struck last year to sell shares at relatively high prices, according to analysis from Hargreaves Lansdown.

08 Aug 2016

Tesco Bank extends distribution to Openwork

Tesco Bank extends distribution to Openwork

From today, Tesco Bank's mortgage range will be available through the Openwork mortgage panel.

08 Aug 2016

Accord cuts application to offer time by five days

Accord cuts application to offer time by five days

Accord says that brokers are receiving quicker offers on client applications following a series of changes to its application and underwriting process.

08 Aug 2016

MPs to launch probe into DB pension regulation

MPs to launch probe into DB pension regulation

The Work and Pensions Committee is investigating whether the current regulatory powers of the Pensions Regulator and The Pension Protection Fund are still adequate following the BHS pensions scandal.

08 Aug 2016

Debt management firm receives FCA authorisation

Debt management firm receives FCA authorisation

Commercial finance broker Pegasus Funding Resources has been granted authorisation to carry out credit broking, debt adjustment and counselling by the FCA.

08 Aug 2016

The Source announces GI platform enhancements

The Source announces GI platform enhancements

The Source has announced the latest round of enhancements to its GI platform.

08 Aug 2016

Sourcing systems are not decision makers, warns Clever Lending

Sourcing systems are not decision makers, warns Clever Lending

Clever Lending says that although MCD has acted as a catalyst for 'fintech' growth, sourcing systems are "there to help with the overall service offering, not a solution in themselves".

08 Aug 2016

 

Time is of the essence - short-term finance for clients in a predicament

Time is of the essence - short-term finance for clients in a predicament

In this marketplace, advisers might not be aware of the short-term finance options for clients until they are presented with a personal case study that brings home what can be achieved.

08 Aug 2016

Building more homes - what role does the mortgage market play?

Building more homes - what role does the mortgage market play?

The recent report, issued by the House of Lords’ Select Committee on Economic Affairs entitled, ‘Building more homes’ makes for interesting reading given that it focuses on that perennial problem, the lack of supply in the housing market.

05 Aug 2016

Rate cut will "unleash catastrophic damage" on pensions, warns deVere

Rate cut will "unleash catastrophic damage" on pensions, warns deVere

deVere CEO Nigel Green has criticised the Bank of England's decision to cut interest rates and expand its Quantitative Easing programme, arguing that it will "unleash more catastrophic damage on pensions, pension funds and, potentially, the UK’s long-term sustainable economic growth".

05 Aug 2016

Accord launches new BTL remortgage range

Accord launches new BTL remortgage range

Accord Buy To Let has reduced rates on its entire fixed rate range by up to 0.30% and launched new remortgage options on three and five year fixes.

05 Aug 2016

Freedom merges second charge arm with Sensible Home Loans

Freedom merges second charge arm with Sensible Home Loans

Freedom Finance has completed the merger of its second charge department with Sensible Home Loans.

05 Aug 2016

Leeds BS sees 33% rise in mortgage lending

Leeds BS sees 33% rise in mortgage lending

Leeds Building Society has reported a 5% rise in pre-tax profit in H1 to £58m, driven by growth in mortgage lending.

05 Aug 2016

Legal & General launches sub-4.5% lifetime mortgage

Legal & General launches sub-4.5% lifetime mortgage

Legal & General has launched a 4.44% Premier Flexible Lifetime Mortgage, which it says is the first sub-4.5% fixed rate roll-up lifetime mortgage product in the market.

05 Aug 2016

Halifax: house price inflation plateaus in July

Halifax: house price inflation plateaus in July

House prices in the three months to July were 8.4% higher than in the same three months a year earlier - unchanged from June, according to the latest Halifax house price index.

05 Aug 2016

FTB and remortgage valuations see post-Brexit surge

FTB and remortgage valuations see post-Brexit surge

Housing market activity has shifted in favour of first-time buyers and remortgagors since the Referendum vote, with annual valuation growth rising by 12% in both sectors, according to Connells Survey and Valuation.

05 Aug 2016

RBS scraps plans to launch Williams & Glyn branches

RBS scraps plans to launch Williams & Glyn branches

Royal Bank of Scotland has abandoned plans to launch Williams & Glyn as a standalone bank after reporting an operating loss before tax of £274m in H1 2016 and an attributable loss of over £2bn.

05 Aug 2016

Trio of lenders cut SVRs by 0.25%

Trio of lenders cut SVRs by 0.25%

Following today’s decision to lower the Bank of England base rate to 0.25% from 0.50%, Santander, Virgin Money and Barclays have confirmed that their Standard Variable Rates will be reduced by 0.25%.

04 Aug 2016

Two sides of the story - the industry reacts to new record low base rate

Two sides of the story - the industry reacts to new record low base rate

The Bank of England’s Monetary Policy Committee has today announced a unanimous decision to cut the base rate from its previous record low of 0.5% to 0.25%, the first change in rate for over seven years.

04 Aug 2016

BoE slashes 2017 growth forecasts from 2.3% to 0.8%

BoE slashes 2017 growth forecasts from 2.3% to 0.8%

The Bank of England has cut growth its 2017 forecasts from 2.3% to just 0.8%.

04 Aug 2016

Bank of England cuts Bank Rate to 0.25%

Bank of England cuts Bank Rate to 0.25%

In a much-anticipated move, the Bank of England’s Monetary Policy Committee has voted to cut the base rate to 0.25% and has announced plans to introduce a package of measures designed to provide additional monetary stimulus.

04 Aug 2016

HSBC widens distribution with new partnership

HSBC widens distribution with new partnership

Complete Mortgages has joined HSBC’s broker panel, providing the Guildford-based broker with access to HSBC’s residential mortgage product portfolio.

04 Aug 2016

Second charge industry urged to adopt flat application fee

Second charge industry urged to adopt flat application fee

Complete FS says that reductions in fees by second charge master brokers "still have a way to go" to appeal to a wider range of brokers, and is urging the industry to renounce the old fee structure and introduce a flat application fee.

04 Aug 2016

Bridging lending drops 27% amid Brexit uncertainty

Bridging lending drops 27% amid Brexit uncertainty

Bridging lending fell to £91.11m in Q2 - 8% lower than Q2 2015 and a 27.3% decrease on Q1 2016, according to the latest Bridging Trends data from MTF.

04 Aug 2016

Tesco Bank extends offer validity period to 6 months

Tesco Bank extends offer validity period to 6 months

Tesco Bank has extended the validity period of its formal mortgage offers for new customers from 3 months to 6 months.

04 Aug 2016

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