Mortgage market review (mmr)
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It appears that lenders who played it safe through the months following the Mortgage Market Review have now reviewed their criteria and are adapting it into Q4.
Nationwide has refuted suggestions in the national media that a £900m drop in its mortgage lending is linked to an unwillingness to lend to borrowers into retirement.
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The number of remortgage loans fell 21% in October compared to the same period last year resulting in 23,505 transactions, according to research.
Nationwide's gross mortgage lending dropped by nearly £1bn in the first half of the year to £13.1bn compared to H1 last year when the building society lent £14bn of new loans.
Lenders have blamed their reluctance to lend to older borrowers whose mortgages stretch into retirement on the fear of a future clampdown by the regulator.
Adviser network Personal Touch Financial Services has appointed eConveyancer to its conveyancing panel and integration of the service into Toolbox, the technology platform for members of the network.
Earlier this week Leeds Building Society announced it was introducing two completely new products aimed at the interest only market.
Gross mortgage lending rose 5% in October compared to the previous month to reach £19bn, figures from the Council of Mortgage Lenders (CML) have revealed.
Brokers were warned by the Financial Conduct Authority (FCA) not to cut corners as demand for advice services have grwon in the post-Mortgage Market Review (MMR) market.
As the tenth anniversary of MDay approaches, Mark Lofthouse takes a look back.
Borrowers are finding it harder to get in front of a qualified financial adviser, said L&G due to the limited banking hours available to consumers.
Lending for house purchasing is moving into a more sustainable phase on the back of changes introduced by the Mortgage Market Review (MMR), according to chartered surveyor e.surv.
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