Cheaper mortgages ahead
UK mortgage lenders reported the continued success of the Funding for Lending scheme continued to clear the way for cheaper mortgage loans and increased competition between lenders. Tighter swap rates enabled higher Loan to Value (LTV) lending in Q4 last year.
Sir Sants?
A pair of MPs have criticised the decision to award a knighthood to Hector Sants, the former chief executive of the Financial Services Authority (FSA), while a petition calling for the knighthood to be withdrawn has gained thousands of signatures.
Below Market Value
E.surv business development director Richard Sexton expressed his bafflement at the proliferation of sites offering the Below Market Value investment, a “close cousin” of the controversial Sale and Rent Back deals.
GI launch
Sesame Bankhall Group (SBG) is launching a new General Insurance (GI) portal giving advisers access to products underwritten by a range of UK insurers. The new proposition will be rolled out to Sesame, PMS and Bankhall members over the coming weeks.
Loyalty counts
Nationwide’s head of products and pricing said in an interview with Mortgage Solutions editor Victoria Hartley in November that fixed rates will continue to feature highly for UK lenders in 2013.
The big 300,000
Demand for top-end houses created 47,024 new property millionaires in the UK in 2012, taking the total number to 300,142. The majority of these property moguls live in London, while Kensington and Chelsea is the most popular borough.
Tax rogues
Her Majesty’s Revenue and Customs (HMRC) is publishing the photographs of more than 30 of last year’s biggest tax cheats as part of a tax evasion campaign. The photographs have been published on popular photo sharing website Flickr.
Happy 2013
More people expect house prices to rise than fall over the next year according to the latest Halifax Housing Market Confidence tracker. Two fifths of respondents predicted the average UK house price will rise over the next year, while 18% forecast a fall. This was the highest reading since the survey began in April 2011.
Co-op fined
The Financial Services Authority fined the Co-operative Bank £133,300 for “serious failings” in its handling of complaints arising from sales of Payment Protection Insurance (PPI). It found the bank’s process for dealing with PPI complaints was inadequate.
Radio Mortgage
Mortgage Solutions editor-in-chief Paula John discussed the range of options available to endowment mortgage holders on the flagship BBC news programme Today. The discussion begins at 2hrs, 41 mins and 50 seconds.
This week’s top tweets
Hayley Graeme
Love love love this big trend for lenders reducing their #mortgage rates. Come on, don’t be shy, you can drop them a little more…
Gardner Finance
So much for the holier than thou “ethical” Co-Op – fined £113,300 for “unfair” PPI complaint-handling process http://ow.ly/gxmuZ
Lea Karasavvas
This is what we want to hear at the start of 2013! HURRAH! Cheaper higher LTV mortgages on way in Q1 – lenders https://www.mortgagesolutions.co.uk/mortgage-solutions/news/2233630/cheaper-higher-ltv-mortgages-on-way-in-q1-lenders …
Faisal Islam
Wow! In Romania 96.9% of population live in mortgage-free owner occupied housing. Who wants to back #equitywithdrawal company in Bucharest?!
