This week’s top five stories:
1) Lenders will consider joining SVR hike wave
Is Santander’s decision to hike its SVR by 0.5% to 4.74% in October the start of a new round of rate increases?
2) First-time buyer mortgage lender to launch in October
Castle Trust has revealed it will be launching into the mortgage market on October 1.
3) Bridging and second charge lender stripped of licence
Reddy Corporation Limited (Reddy), a second charge lender based in Forest Hill, has had its credit licence revoked by the Office of Fair Trading (OFT).
4) Surveyor fraud – a problem in waiting?
The CEO of Suntech has been forced to resign. As the biggest producer of solar panels in the world, the company should be a beacon of growth – a sustainable source of power for a new age. The reality is much more controversial, and a significant factor is third party fraud.
5) Nationwide to offer lower rates to loyal customers
Nationwide is to offer lower rates to existing customers from tomorrow, in a move aimed at rewarding customer loyalty.
Here’s some stories you may have missed:
Lloyds ‘temporarily’ suspends all international mortgage lending
Lloyds Banking Group has temporarily suspended all international mortgage lending as it carries out a review of its lending operations.
The honorable Rt. Hon – The insider
MPs may surprise you. They quite regularly get involved in their constituent’s affairs.
Can you fix your mortgage for too long?
All we’ve heard recently is how cheap five-year fixed rate mortgages have become – as long as you have a 40 per cent deposit or similar level of equity in your home.
Mortgage advice firm boss convicted of dodging £28 cab fare
A high net worth broker has been convicted of dodging a £28 cab fare in Hampstead after a drunken night out.
Tweets of the week:
patrick bryan @patrickbryan
@mortgagesols that’s some spin – they’ve just gone up less than the new borrower rates from tomorrow: up 0.2% instead of 0.3% (fixed)
Henry Pryor @HenryPryor
The proportion of all homes sold last month for less than £200k fell again. In Feb 2008 it was 69%. It’s now just 58%.
Stephen Fairweather, Castle Trust @sdfairweather
Proud and excited that we are launching on 1 October. Happy days.
