1. Self-cert mortgage lender goes live from outside UK
A self-cert lender operating outside the UK offering mortgages which do not require income verification or advice has launched this week.
2. MPC member warns interest rates to stay low for ‘a very long time’
Bank of England rate-setter Dr Gertjan Vlieghe said he was prepared to be ‘patient’ before voting for a rate rise due to the recent slowing in UK growth, weak inflation and stagnant wages.
In just one week, Mortgage Solution’s first niche lending roadshow and exhibition, The Specialist Lending Event 2016 kicks off. Register now to join us.
4. Tweedy and Batchelor to launch ‘challenger’ mortgage lender Belmont Green
David Tweedy, former managing director of Platform Home Loans, and Guy Batchelor, ex-managing director, corporate business at Countrywide, have confirmed they are ‘exploring market opportunities’ ahead of a planned mortgage lender launch.
The Mortgage Credit Directive incoming on 21 March will create a level regulatory playing field between first and second charge loans likely to bring some big changes in the secured loan markets.
Newly-launched lender SelfCert.co.uk has halted new lending for at least three months as it works through a ‘severe backlog’ of applications.
The Financial Services Compensation Scheme (FSCS) is proposing to double the levy imposed on mortgage intermediaries to £10m in 2016/17, up from £5m a year earlier.
We often hear anecdotes that the plumber’s house is always the one with the leaky tap and the decorator’s house is the one urgently in need of painting. But is the typical mortgage broker’s house in order? Paradigm’s Mike Allison looks at cover options for brokers.
The government has been blamed for discriminating against UK-based investment in the housing market by making it easier for foreign investors to purchase properties.
As house prices rocket across the country, it’s important to remember what drives pricing in the market, writes L&G’s Steve Goodall.