Buy-to-let lending is shrinking. In 2017, the overall lending figure is likely to sit at around £35bn. That’s about a 14 per cent reduction on the year before. In 2018, I reckon we will see the market shrink further, maybe by another 11 per cent, so that by the end of the year the final […]
Fleet Mortgages has today launched a two-year buy-to-let fixed-rate product in its standard range. The new product has an initial rate of 2.79 per cent to 75 per cent LTV. It has a revert rate of 5.28 per cent (currently LIBOR plus 4.75 per cent). The product has an ICR of 125 per cent […]
The Financial Services Compensation Scheme is set to raise mortgage broker levies by £3m in the 2018/19 period. The final 2017/18 levy for home finance intermediation was £14m. However the estimated 2018/19 levy will be £17m, a 21 per cent increase. This is despite the fact that the 2018/19 bill will only cover nine months […]
Mortgage and protection network JLM Mortgage Services has appointed Daniel Leach as chief operating officer. Leach will focus on developing JLM’s ‘robo mortgage advice’ proposition, Virtual Adviser. He will also be tasked with driving growth in the business, including adviser recruitment, and will report into JLM directors Rory Joseph and Seb Murphy. Joseph says: “Daniel brings […]
The Scottish property market continued to power on at the end of 2017, with the number of transactions at the highest level for almost a decade. This increased activity helped drive prices upwards. In November, house prices in the country rose 3.5 per cent according to the Your Move/Acadata Scottish House Price Index. This is […]
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Vida Homeloans is expanding its UK account management team as part of the company’s restructuring. As part of this process the specialist lender has promoted three senior sales people, and will also be recruiting for three newly-created roles. Sally Wright, previously key account manager for the London & South region will promoted to corporate sales […]
Anyone hoping for a soft landing in 2018 is in for a rude awakening. As far as buyto-let mortgages go, we’ve already seen significantly more demand than at this point last year, and with a raft of two-year fixed deals about to reach maturity following the stamp duty rush of 2016 there will be no […]
Nationwide will hire 250 contractors from troubled outsourcing firm Carillion. The building society says it outsourced some roles to Carillion, and will take those staff onto permanent contracts, according to Reuters. Nationwide says an extra 1,500 staff work for third party firms who work on Nationwide deals with Carillion. The building society will now deal […]
Countrywide has put out a profit warning for the 2017 year after “disappointing” sales in the final quarter. Total group income for the full year is expected to be around £672m, down from £737m in 2016. The lender’s Q4 2017 income is set to be £164m, compared to £179m in the last quarter of […]
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Nearly three-quarters of limited company buy-to-let mortgage transactions were used to buy property rather than refinance in Q4 2017, according to figures published by Mortgages for Business. The ‘Limited Company Buy-to-Let Index’ found that 72 per cent of all transactions in this area were for property purchase, contradicting the individual landlord and wider residential mortgage […]
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