Lenders
Banks and building societies are being urged to consider the income borrowers can generate from renting a room out when calculating how much they will lend.
Gross lending by building societies was subdued in January at £1bn, a drop from £1.8bn in December, as funds for mortgage lending remained unavailable.
Loans for house purchase in Scotland fell to a 16-year low in 2009, according to the Council of Mortgage Lenders (CML).
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London-based lender Redstone Mortgages has been found in breach of the Data Protection Act after personal information from 15,333 accounts was emailed to a member of the public.
London-based lender Redstone Mortgages has been found in breach of the Data Protection Act (DPA) after personal information relating to 15,333 accounts was emailed to a member of the public.
Reporter Stephen Quigley previews the latest issue of Mortgage Solutions.
The number of different mortgage products available has broken through the 2,000 barrier for the first time in more than a year, according to Moneyfacts.
Moody’s has warned that mortgage lenders will be forced to merge when the Government schemes come to an end.
A majority (67%) of mortgage lenders have predicted an increase in the number of repossessions in 2010, according to solicitors Moore Blatch.
The FSA has banned London-based mortgage broker Andrew Emelife for massively inflating income on mortgage applications.
The Charlbury Group has expanded its field agents to offer commercial field visits to help lenders and loan managers gather information on commercial loans in arrears.
The Mortgage Works (TMW) has made its Decision in Principle (DIP) and Full Mortgage Application (FMA) forms available to all users of the Mortgage Trading Exchange (mte).
The latest Mortgage Solutions poll has revealed that 70% of respondents believe fear of new entrants and increased competition is behind the recent spate of rate cuts by lenders.
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