TBMC has launched a buy-to-let mortgage exclusive with Hinckley & Rugby Building Society. The product is a 1.99 per cent two-year discount up to 75 per cent LTV with a flat fee of £1,750 and no early repayment charges. TBMC managing director Jane Simpson says: “As the PRA changes affecting portfolio landlords bed in, […]
NatWest is raising rates by up to 0.20 per cent on residential and buy-to-let loans for the second time in a month. The firm says it is making the increases due to expectations of a base rate rise. The lender will increase rates by 0.20 per cent on its residential first-time buyer two- and five-year […]
Cambridge Building Society has launched new mortgage products for the self-employed or contractors with one year of accounts. Both products are available up to 80 per cent LTV. The lender has launched a two-year discount option at 2.69 per cent with an £800 completion fee and £199 application fee. A two-year fix is available at […]
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Ipswich Building Society has launched a new five-year fixed rate mortgage range for residential, buy-to-let and shared ownership borrowers. The range is available direct and through select brokers. It includes a 2.82 per cent rate for residential purchase and remortgage up to 90 per cent LTV. The loan has a completion fee of £800 […]
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Paragon Finance and Mortgage Express were the most complained-about home finance providers in H1 2017, according to the Financial Conduct Authority. The FCA says Paragon had 43.2 complaints per 1,000 home finance balances outstanding. Former Bradford & Bingley division Mortgage Express had 41.4 complaints per 1,000. Third was Blemain Finance, with 41.2 complaints per 1,000 […]
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Nationwide is considering signposting customers to brokers in the letters it sends to clients before their mortgage ends. The lender currently contacts customers three months before their term ends to let them know they need to renew or switch. In line with industry norms these letters currently refer customers to Nationwide but do not […]
The Government is set to ban gazumping as part of plans to improve the homebuying process unveiled today. The Department for Communities and Local Government says it wants to make this process cheaper, faster and less stressful. This will include looking at ways to ban gazumping and reduce ‘time wasting’ in the process by encouraging lock-in […]
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John Charcol has appointed Luke Somerset as chief operating officer, with immediate effect. Somerset has joined the broker to lead the sales, operations and commercial teams based in Southampton and will work closely with the broker’s leadership team. Somerset began his career at Lehman’s before moving on to head of administration at Contractor Financials. He […]
By Matthew Tooth, Chief Commercial Officer, LendInvest One area of the mortgage market that doesn’t get the attention it deserves is servicing. Bringing a borrower in the front door is only the first step; actually servicing that loan properly is not so visible, but just as important to a lender’s bottom line. Earlier this year […]