This week’s top five stories:
1) ‘Headlong rush’ for CeMAP advisers will reshape industry – Marketwatch
RBS is currently recruiting more than 60 mortgage brokers, a move which suggests one of the UK’s largest lenders sees an opportunity. So will brokers face more branch-based competition on advice post-MMR?
2) Santander relaxes buy-to-let criteria
Santander has loosened its criteria for buy-to-let mortgages in order to open up the range to amateur landlords.
3) West Brom increases tracker rate for 6,700 borrowers; sparks fears other lenders will follow suit
West Bromwich Building Society will increase rates on 6,700 tracker mortgages by two percentage points this December.
4) Interest rates could rise earlier than expected – BoE economist
The Bank of England has made ‘no promise’ to keep interest rates fixed for a set period of time, a Monetary Policy Committee member has said.
5) Bank of England moves to calm housing bubble fears
The Bank of England has moved to calm fears of a house price bubble, releasing a statement which outlines how the central bank will ‘closely monitor’ the housing market and intervene if it feels property prices are overheating.
Here are some stories you may have missed:
Ask the Experts: Should I recommend joint protection plans to couples?
Our Ask the Experts column is your chance to put industry figures on the spot. In this edition, Jennifer Gilchrist, senior product development manager at Bright Grey and Scottish Provident, answers your question.
NatWest expands intermediary team to support ambitious lending plans
NatWest has appointed four broker-facing managers and could recruit up to twelve more in a bid to sustain high levels of intermediary lending.
Virgin Money raises SVR for new buy-to-let customers
New Virgin Money buy-to-let customers will face a higher revert-to rate after the lender made changes to its criteria.
West Brom, Bank of Ireland and the future of the tracker
“It’s a letter telling us they’re increasing our tracker rate,” one borrower joked to his wife when he saw the West Bromwich Building Society letter fall onto his hall floor this weekend. Then, he opened it: “To my horror, it was.”
Playing chicken and egg in buy-to-let market – Nationwide
The UK mortgage market has a strong history of both innovation and competition. Offsetting a desire to innovate has been, in recent years, the increasing focus and challenge from regulation, writes Andrew Baddeley-Chappell.
