Each Friday, Mortgage Solutions rounds up the most popular articles on the website over the past week. What did you miss?
Private house building slowed by 1.6% in February while output in the overall construction industry declined by 0.9%, government statistics revealed.
Monthly secured lending volumes rose by 10.7% in February from £58.2m to £64.4m, figures from the Loans Warehouse index revealed.
Other Precise mortgages articles
Housing policy is being used as “political football” and should instead be handed to the Bank of England to create an effective long-term strategy, argues Precise Mortgages managing director Alan Cleary.
What counts as self-employed? At opposite ends of the spectrum are Principality building society, which deems someone to be self-employed if they own just 5% of a company’s shareholding, and Newbury which classes a borrower as self-employed if they own a minimum 40% of a company’s shares.
Precise Mortgages has completed its fourth securitisation for £205m bringing its total issuance since December 2013 to more than £800m.
Challenger bank Charter Savings Bank has officially entered the market with a number of savings accounts with rates up to 2.50% AER.
Precise Mortgages has launched a range of second charge loan products exclusively for its master broker panel, with loan amounts ranging from £30,000 to £200,000.
For proof that the winds of change are blowing in favour of the intermediary, look to the distribution sector, where lenders have been asked to pitch their service and commercial propositions to win a spot on Openwork's network.
The second charge market enjoyed a tremendous resurgence in 2014 as new lenders launched product ranges and new broker firms set up to deliver them to consumers.
Precise Mortgages has launched an unregulated bridging loan with a 0% facility fee available up to 75% loan-to-value (LTV) with a streamlined set of validation requirements.
As criteria and underwriting requirements become more complex post-Mortgage Market Review, lenders are ramping up field and phone-based support to guide brokers through their processes.
Charter Savings Bank, a dedicated savings proposition from Charter Court Financial Services (CCFS), will launch in early 2015 following the approval of its banking licence by the Prudential Regulation Authority (PRA).
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