Number seeking mortgage advice up by a quarter
July 27, 2010
According to website Unbiased, the consumer numbers for those seeking advice when finding a mortgage rose by just under a quarter (24 percent) during the first six months of 2010 when compared to the same time period of last year. Read more
Six banned from mortgage industry by FSA
July 6, 2010
The Financial Services Authority (FSA) has banned six individuals from working within the mortgage industry after the watchdog discovered they had committed mortgage fraud.
Three of the six were working for the same company and one was given a fine of £130,000. Of those banned, most had Read more
CII welcomes stricter accountability for mortgage advisers
July 3, 2010
Following the new draft rules released by the Financial Services Authority (FSA) last week, the Chartered Insurance Institute (CII) has reportedly applauded the new stricter rules for mortgage advisers.
The FSA’s draft rules for its Approved Persons section aims to Read more
Death of the interest-only mortgage?
June 30, 2010
Thanks to the credit crunch and ensuing recession, we have already seen the demise of the 100% mortgage, and reports in the media this month indicate that we could now be seeing the death of the interest-only mortgage.
According to Read more
Mortgage advisors and bank staff to individually register by 2011
June 27, 2010
By March 2011, each mortgage advisor and every bank staff member who arranges mortgages will have to be individually registered with the FSA.
Earlier this month, the Financial Services Authority (FSA) confirmed that it will require each person who arranges mortgages, whether they are an independent mortgage advisor or if they work in a bank Read more
Emergency Budget changes Support for Mortgage Interest scheme
June 24, 2010
This week’s Emergency Budget included a change for the Support for Mortgage Interest scheme (SMI).
All over the UK, everybody has awaited the Emergency Budget with baited breath – knowing it would be painful for us all but hoping it might not be as painful as expected. The Budget did not disappoint and the SMI scheme was included in the changes.
The SMI scheme was Read more
Scrapping of HIPS opens up housing market
May 27, 2010
This week, estate agents, mortgage advisors and many others welcomed the news that the coalition Government has scrapped the controversial HIPS (Home Information Packs).
The packs were suspended on the 21st May last week. HIPS were initially introduced three years ago in 2007, forcing property owners to purchase one before their property could Read more
Government allows FSA to remain
May 21, 2010
Under the new coalition government with the Conservatives and the Liberal Demoncrats it appears that the Financial Services Authority (FSA) is set to survive – for the time being at least.
Read more
Should a first time buyer have to pass a ‘consumer mortgage exam’?
May 9, 2010
Last month, a debt charity called for first time buyers to take a ‘mortgage exam’ before being allowed to apply for a mortgage. Since then, the debate has increased with some stating it is unrealistic and others pointing to a US program that offers something similar. Read more
Mortgage market on the move
April 15, 2010
According to reports from price comparison website moneysupermarket.com, there looks to be some momentum and movement in the mortgage market now – from both borrowers and lenders too.
In recent reports, the website revealed figures about the numbers of people using the website’s services to look for mortgages. The figures showed an increase of approximately 29 per cent from those seeking a remortgage whilst an increase of around 17 per cent was seen in the numbers of first time buyers. Read more
