Mortgage News
Demand for equity release plans rise
The demand for equity release plans by the British public shows little sign of slowing, revealsKey Retirement Solutions’ Market Monitor, which tracks activity in the UK equity release market.
IMLA: BBC Panorama programme transmitted 8 October 2007
Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association (IMLA), says: "IMLA and its members fully support the regulatory requirements of the FSA and in particular the duty to treat customers fairly, and we do not condone any mis-selling of mortgages.
Lending remains buoyant as affordability worsens
The total of gross lending in August was £34 billion, little changed from July's £34.1 billion and £1 billion higher than in August last year, according to the Council of Mortgage Lenders (CML).
First-time buyers imprisoned for three years
One in 20 first-time buyers may be imprisoned in their homes if house prices stagnate. According to Halifax house prices fell in September for the first time in nine months - the annual rate of house-price inflation is now 10.7% down from 11.4% in August.
Derbyshire IFS sets sights on equity release market
Key Retirement Solutions and Derbyshire IFS, the independent financial advice subsidiary of The Derbyshire Building Society, today announce an equity release client introduction partnership.
Northern Rock axes over two thirds of its mortgage range
Julia Harris, Mortgage Expert at Moneyfacts.co.uk, comments: “From tomorrow, the extensive Northern Rock residential and buy-to-let mortgage range will see its number of products cut by over two thirds, in its first product change since seeking emergency funding from the Bank of England.
Tips for graduates keen to get on the housing ladder
The summer is over, the studying complete, and, for numerous new graduates, full time working life is in full flow.
HBOS scrapping its mortgage lending targets
Commenting on HBOS scrapping its mortgage lending targets, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: “The credit crunch has hit many lenders hard, especially those involved in specialist lending, and HBOS has some exposure to this through its BM Solutions brand.
Postal strikes don’t stop work for GMAC-RFC
Following the Royal Mail’s Communication Workers Union announcement to strike on Thursday 4th October till Tuesday 9th October, GMAC-RFC has reassured brokers and intermediaries, that due to its award winning technology, business will not be affected.
Britannia launches new mortgage deals
Britannia Building Society launched the following mortgage products on Friday 28th September 2007:
UK mortgage lending slows
The increase in total net lending to individuals in August (£9.5 billion) was below the increase in July and below the previous six month average, according to figures from the Bank of England (BoE).
Just Retirement announces new equity release advice service
Just Retirement, the specialist retirement provider, today announced that it plans to launch a new multi-tied advisory service.
Nationwide updates fixed rate and tracker mortgage deals
Nationwide Building Society has announced changes to some of its fixed rate and tracker mortgages. The new rates are available from Tuesday 2nd October 2007.
Mortgage borrowers speak out on PPI sales
Over 30% of new mortgage borrowers over the last year “felt pressurised” into buying associated insurance products! And this figure has increased from the previous year.
uSwitch.com: Selling standards of PPI
Following today’s announcement by the FSA’s on the ongoing PPI selling standards investigation, Nick White, Director of Personal Finance at uSwitch.com comments on the outcome of ‘phase three’ of the investigation.