Lenders
The Council of Mortgage Lenders (CML) and HMRC have confirmed plans to launch a joint scheme to create a central, single point of contact to verify borrowers tax and income in a bid to combat fraud.
It's a fair enough question, one would think, when research from Moneyfacts shows that lenders are enjoying margins at all-time highs on their mortgage rates.
Mounting evidence suggests arrears and repossessions are set to jump not fall, as predicted by the Council of Mortgage Lenders (CML) last week, said RPS.
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The Council of Mortgage Lenders(CML) has revised down its predictions for the amount of lending it expects the market to achieve in 2010 from £150bn to £140bn - similar to the £143bn lent last year.
The property market recovery has finally run out of steam as the lack of homes for sale driving the demand is no longer an issue.
Mortgage Solutions has announced plans to begin a period of reflection and simultaneously reinvigorate the brand with in-depth, multi-media news coverage and a wealth of broker-focused feature sections.
Gross mortgage lending in June rose to an estimated £13.1 billion, which is a 15% increase from £11.4 billion in May, according to mortgage lender's figures.
The Financial Services Authority (FSA) has fined mortgage lender Redstone Mortgages £630,000 for shoddy treatment of customers struggling with mortgage arrears.
The FSA's responsible lending proposals, out last night, could cost UK mortgage lenders an extra £20m in administration costs with the extra work required to verify income and check affordability.
In a reversal of the drop in May, the number of UK property completions rose 60% last month.
Tesco Bank has announced it will launch a range of mortgage products by the end of 2010/11 as part of its plans to become a full-service retail bank.
Gross mortgage lending in February grew by £0.6bn to reach £8.6bn in February, according to the latest statistics from the British Bankers Association (BBA).
Aldermore is designing its mortgage range specifically to help self-employed and creditworthy borrowers who are being turned away by lenders.
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