Mark Carney wants the Financial Policy Committee (FPC) to be given powers over the interest coverage ratio in buy-to-let rental calculations to protect landlords from future interest rate rises or falls in income.
New Street Mortgages, the sister-lender launching from within the Kensington Group, will start to lend in January.
Mark Carney’s bid to take control over the setting of the interest coverage ratio if necessary has prompted brokers to warn it could damage the market, not just cool it.
The accountant who took part in the £300m Sale and Rent Back mortgage fraud ring which saw four people sentenced to jail avoided prison.
Former Pink Home Loans director Mark Graves has joined Sesame Bankhall Group as sales director just two months after announcing that he would be taking on a role at The Right Mortgage and Protection Network.
..and have you seen these this week?
Increases to Stamp Duty on second homes and buy-to-let properties effective from April next year could cause conveyancing ‘mayhem’, a conveyancing distributor has warned.
Steve Weston, chief executive of mortgages at Barclays, has resigned from his position and will leave the bank at the end of the December, the lender has announced.
George Osborne’s announcement that purchases of second homes and buy-to-let properties will be hit with a 3% Stamp Duty Land Tax premium has sent shock waves through the sector.
Buy-to-let investors with 15 or more properties in a limited company structure will not be subject to a 3% increase in Stamp Duty Land Tax, a Treasury spokeswoman has confirmed
Managing director of Stonebridge Group Richard Adams reveals his strategy to grow adviser numbers 35% by the end of 2016 and talks about the truth behind ‘that Legal and General deal’.
Don’t miss The Specialist Lending Event for mortgage advisers, launching in January 2016. Coming to London and Stafford in January. Register now.