Bank of England governor Mark Carney has told economists that rate-setters will be forced to make harsh cuts to support the economy if Brexit is not smooth. Speaking in London last night, Carney says the bank is ready to act in the face of a messy exit from the European Union, warning that the contingency […]
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The importance of having underwriters on the end of a phone, learning from intelligent people and the perils of amateur dramatics
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Furness Building Society has introduced remortgage products for those looking to repay their Help to Buy equity loan. The remortgage offering will allow Help to Buy borrowers to wrap their mortgage borrowing into one loan repayment. The building society is making its full range of products available for these borrowers, including deals up to 95 […]
In case you were unaware, mandatory licensing of Houses of Multiple Occupation is being extended to include property occupied by five or more people forming two or more separate households regardless of the number of storeys . Previously this rule applied to properties with three or more storeys. As usual, there are caveats to the […]
The mortgage market experienced a strong April, according to the latest figures from UK Finance, with approvals and total lending up year-on-year. A gross of £20.4bn in lending was completed in April the trade body said, a rise of 13.3 per cent from the same month a year earlier. Approvals, meanwhile, were up 11 per […]
Principality Building Society has confirmed details of its new Help to Buy loan, which for the first time will cover those buying in England. This loan, which is only available through intermediaries will be available to both first-time and next-time buyers. The Society is offering a five-year fixed rate loan with an August 2023 end […]
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Specialist lender Magellan Homeloans has partnered with Connect for Intermediaries and will join both its packager and network panel. Magellan specialises in loans for borrowers who struggle to obtain a high street mortgage. This will include those who are recently self-employed, borrowers with a poor credit score, those with affordability restrictions as well as those […]
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Skipton Building Society is launching a new range of intermediary-only buy-to-let and residential products. The buy-to-let mortgage range includes two three-year fee free fixes at 2.25 per cent (up to 60 per cent LTV), and 2.69 per cent (up to 70 per cent LTV). It is also offers two fee free five-year fixes at 2.29 […]
More than eight out of 10 brokers have condemned the service standards provided by the “free” legal firms offered by lenders. The survey, by the Association of Mortgage Intermediaries, said 82 per cent of brokers found service standards worse than those provided by solicitors and conveyancers who had been appointed by the customer. More than […]
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Richard Tugwell of Together looks at the regulatory changes affecting the sector, and the direction of travel that far-sighted investors are factoring in
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