This week’s top five stories:
1) 13,500 resi and BTL customers hit by Bank of Ireland rate increase
Around 13,500 Bank of Ireland mortgage customers in the UK have been affected by an increase in mortgage rates.
2) Top 5 UK-wide broker bugbears
Emma Mason, business development manager at Blacks Connect, guides us through her top five broker bugbears.
3) Force lenders to issue warning letters to interest-only customers
Customers on interest-only mortgage deals should be contacted by lenders to warn them about repayment methods.
4) 100% LTV mortgages: time for a comeback?
Bath Building Society has launched a 100% loan-to-value mortgage using parental assistance to help young buyers onto the property ladder.
The mortgage is currently limited to buyers in the South West of England and the building society emphasised it does not want to lead a return to the model of the boom years. But reformed or not, is it time 100% LTV mortgages made a comeback?
5) Fraudster at heart of mortgage adviser’s ‘living nightmare’ escapes conviction
A Tyneside property tycoon whose swindles dragged an innocent mortgage adviser into ‘a living nightmare’ has escaped a criminal conviction.
Here are some stories you may have missed:
Mortgage broker wins battle to replace Huhne as MP
Mortgage adviser Mike Thornton has been elected as MP for Eastleigh after a hard-fought election campaign.
Tenet to offer Metro Bank mortgages – exclusive
Metro Bank is to offer its mortgage products through Tenet Group ARs and DA firms as it continues to expand its intermediary presence.
BoE floats extending Funding for Lending to non-banks
The Bank of England deputy governor Paul Tucker has floated the idea of extending the Funding for Lending Scheme (FLS) to non-banks and has expressed concern that the scheme is failing to reach businesses.
Have Stamp Duty changes spooked foreign buyers?
Amid much speculation around the introduction of a so called ‘mansion tax’, Adam Williams looks at how existing tax changes have already affected the housing market.
Meet the affordable homes that are impossible to mortgage
Liverpool has made headlines after the council proposed selling up to twenty vacant Victorian terrace properties for a token price of £1 each. In exchange, the owner would pledge to refurbish the home and live in it for five years without sub-letting.
Tweets of the week:
Nazir Kaker @Mr_Kaker
Banks can be extremely stupid!!! Just had one ask me to show the clients deposit… It’s a right to buy…?!
Jon Hall @Jon_E_Hall
Another day, another bank loss from customer detriment, another Building Society profit from customer fairness; well done @CoventryBS
Dominik Lipnicki @dominikymd
Plenty of great fixed rates have come out recently. Good news if you are low LTV, 100% clean credit record/provable income. Stuck otherwise!
