Clearing mortgage debt is the most common reason over 55s have for equity release, lifetime mortgage specialist Stonehaven has found.
Peer-to-peer platform eMoneyUnion has completed the first ever first charge residential crowdfunding loan.
The Financial Conduct Authority published its first annual report last week reviewing its performance since it came into force on 1 April 2013, taking over from the Financial Services Authority.
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The Family Building Society has launched with a range of mortgage products intended to allow families to financially support each other.
That a rate rise is on the way is a certainty. What effect this will have on borrowers' behaviour as they move to protect themselves from unpredictable and increasing payments is still an unknown.
Melton Mowbray Building Society has tightened its interest-only mortgage policy due to the high volume of applications it has received for this repayment type.
Almost two-in-three mortgage brokers say they would be interested in leading a drive to contact interest-only mortgage customers.
Roughly 130,000 customers have converted from interest-only to repayment loans in under a year, a 13% reduction in the number of interest-only borrowers from around 3.2m to 2.8m.
Having recently read about research commissioned by BM Solutions, I undertook my own analysis, using the data it provided, and I came to a very different conclusion.
Figures released earlier this week showed mortgage lenders have contacted the vast majority of customers with interest-only loans expiring by 2020.
Specialist lender GE Money has withdrawn its interest-only mortgage range due to the additional underwriting considerations of the product type.
Borrowers who need mortgages beyond retirement age will be the subject of upcoming talks between the Council of Mortgage Lenders and the Equity Release Council (ERC).
The number of borrowers with an interest-only mortgage has fallen by 12% in a year following lenders' commitment to contact every borrower whose mortgage matured before 2020.
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