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Virgin's profits boosted by 44% rise in mortgage lending

Virgin's profits boosted by 44% rise in mortgage lending

Virgin Money's underlying profit rose by 37% to £81.8 million in H1 2015, boosted by a 44% increase in gross mortgage lending.

29 Jul 2015

FCA: firms still failing to manage benchmark risks

FCA: firms still failing to manage benchmark risks

The FCA has said that firms have not learnt their lessons from the Libor and Forex scandals, and that improvement has been uneven across the industry, often lacking the "urgency required given the severity of recent failings".

29 Jul 2015

Remortgage equity hits record high as falling rates continue

Remortgage equity hits record high as falling rates continue

The average amount of equity withdrawn by remortgaging hit a record high of £34,500 per borrower, as borrowers were spurred to remortgage by record low rates and much improved affordability.

29 Jul 2015

Two-thirds of secured loans used to consolidate debt

Two-thirds of secured loans used to consolidate debt

Clever Lending are seeing 61% of their secured loan cases being used for debt consolidation.

29 Jul 2015

BoE: approvals exceeed expectations in June

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BoE: approvals exceeed expectations in June

The number of mortgage approvals rose to 66,582 in June, beating economists' expectations, according to the latest Bank of England Money and Credit report.

29 Jul 2015

Barclays sets aside £1bn for consumer redress

Barclays sets aside £1bn for consumer redress

Barclays has aside a further £1bn to cover future redress costs, while reporting a 25% rise in statutory pre-tax profits.

29 Jul 2015

IRESS launches new intermediary product

IRESS launches new intermediary product

IRESS has launched its new product for mortgage intermediaries, XPLAN Mortgage.

29 Jul 2015

Two thirds pay "little or no attention" to their pension pots

Two thirds pay "little or no attention" to their pension pots

Almost two thirds (63%) of over-45s have admitted they pay little or no attention to their pensions, leading to more than ten million pots being left largely unmonitored.

29 Jul 2015

Commuters save up to £450,000 on house prices

Commuters save up to £450,000 on house prices

Commuters with up to an hour's rail journey to London save, on average, £450,000 (or 60%) on the average house price compared to those living in central London, according to the latest research by Lloyds Bank.

29 Jul 2015

Mortgage rates fall to new record lows

Mortgage rates fall to new record lows

Mortgage Brain's quarterly product data analysis shows a further widespread drop in mortgage rates for all main product types, despite predictions of a rate rise later this year.

28 Jul 2015

 

Greek crisis good news for mortgage rates?

Greek crisis good news for mortgage rates?

The financial crisis in Greece has been dominating the financial headlines for months, with all sorts of predicted ramifications - both for them and their fellow EU members.

28 Jul 2015

Shawbrook profits soar 94% to £34.8m

Shawbrook profits soar 94% to £34.8m

In H1 2015, Shawbrook Bank's pre-tax profits rose 94% from the first half of 2014, driven by a 38% increase in its loan book to £2.72bn.

28 Jul 2015

Embedding the Mortgage Market Review: Advice and Distribution TR15/9

Embedding the Mortgage Market Review: Advice and Distribution TR15/9

The FCA has issued a report (TR15/09) summarising the key findings of its thematic review into the quality and suitability of mortgage advice provided by firms following the implementation of the Mortgage Market Review.

28 Jul 2015

Challenger bank plans mortgage market entry

Challenger bank plans mortgage market entry

Secure Trust Bank has announced its intention to enter into the UK mortgage and cash ISA markets.

28 Jul 2015

Osborne announces new MPC member

Osborne announces new MPC member

The Chancellor has announced that Dr Gertjan Vlieghe has been appointed as external member of the Monetary Policy Committee.

28 Jul 2015

ONS: GDP accelerates to 0.7% in Q2

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ONS: GDP accelerates to 0.7% in Q2

GDP is estimated to have increased by 0.7% in Q2 compared with growth of 0.4% in Q1, according to ONS' preliminary estimates.

28 Jul 2015

House prices rise to pre-crash levels in June

House prices rise to pre-crash levels in June

House prices picked up in June, with a monthly price increase of 1.1% compared to static prices in May, according to the latest Land Registry HPI.

28 Jul 2015

Does MMR favour BTL over residential homebuyers?

Does MMR favour BTL over residential homebuyers?

Private Finance has said that MMR has created a bias in lending which favours investors over residential homebuyers, especially in areas where property prices continue to rise.

28 Jul 2015

Precise launches BTL second charge range

Precise launches BTL second charge range

Precise Mortgages has launched a range of buy to let second charge loan products.

28 Jul 2015

Mortgage applications up 43%

Mortgage applications up 43%

Mortgage applications have increased by 43% in the last month according to deVere Mortgages, with the vast majority of new enquiries coming from overseas buyers and Britons living and working abroad.

28 Jul 2015

Moody's: base rate rise "wouldn't increase mortgage arrears"

Moody's: base rate rise "wouldn't increase mortgage arrears"

UK mortgage borrowers' strength will enable them to withstand moderate interest-rate rises, says ratings agency Moody's.

28 Jul 2015

Equity release lending hits record high in Q2

Equity release lending hits record high in Q2

Equity release lending to UK homeowners over the age of 55 totalled £384.3m in Q2 2015, the largest amount for any quarter since records began - surpassing the previous high of £375.4m reached in Q3 2014.

28 Jul 2015

When mortgage technology goes wrong?

When mortgage technology goes wrong?

Technology offered and utilised in the correct manner can be a great enabler for all concerned; there's no doubting that in the mortgage advice and lending worlds, pushing the envelope in a technology sense has enabled a much more streamlined service offering and has resulted in considerable cuts to the overall administration burden.

27 Jul 2015

BoE announces new PRA board members

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BoE announces new PRA board members

The Bank of England has announced two new appointments to the Board of the Prudential Regulation Authority.

27 Jul 2015

The pathway between guidance and advice

The pathway between guidance and advice

The world for those reaching retirement has certainly changed in the past 18 months.

27 Jul 2015

The Right Mortgage hires compliance director

The Right Mortgage hires compliance director

Gavin Earnshaw, former head of compliance at Pink Network, is set to join The Right Mortgage and Protection Network as compliance director on the 29 July.

27 Jul 2015

Payday lender faces £20m redress after FCA review

Payday lender faces £20m redress after FCA review

Ariste Holding Limited, trading as Cash Genie, has entered into an agreement with the Financial Conduct Authority to provide over £20 million of redress to more than 92,000 customers for unfair practices.

27 Jul 2015

Steve Webb to join Royal London

Steve Webb to join Royal London

Former pensions minister Steve Webb is set to take a "senior role" at Royal London, according to reports.

27 Jul 2015

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