Barclays debuts FTB deals, cuts rates by up to 50bps
Oct 3, 2024 · Two-year premier fixes, with a £899 fee, at 60% LTV, down by 23bps to 3.96% — minimum loan £5,000, maximum loan £2m; Five-year premier fixes, with a £999 product fee, at 90% LTV, down by 18bps to 4.42% — minimum loan £5,000, maximum loan £570,000
Budget 2024: Right to Buy scaled back and social rents to climb
Oct 30, 2024 · She said: “We will put the right policies in place to increase the supply of affordable housing, having heard representations from local authorities, social housing providers and from Shelter, I can today confirm that the government will reduce Right to Buy discounts and local authorities will be able to retain the full receipts from anything so that we can reinvest them …
TSB fined £11m over treatment customers in arrears: FCA
Oct 10, 2024 · The City watchdog says the high street bank “lacked suitable systems and controls to secure fair outcomes for these customers”. Apart from a £10.9m fine to the regulator, it has paid £99.9m in redress to 232,849 mortgage, overdraft, credit card and loan customers affected by …
HSBC reduces rates by up to 25bps, launches high-value loans
Oct 3, 2024 · The high street bank says its residential changes feature reductions of up to 16bps on two-year and five-year mortgages for both home movers and first-time buyers, with cuts of up to 25bps on buy-to-let loans.
BoE rate hold as expected but hopes for cuts in 2025
Dec 19, 2024 · He added: “The news might trigger some negative responses, particularly among property buyers holding out hope for lower mortgage rates. However, Governor Bailey has strongly indicated that the base rate could be cut by 1% across the next 12 months, which will likely result in a significant surge in buyer demand and market activity in the new year.
Second charge lending growth outpaces market over 1, 2 and 5 …
Oct 22, 2024 · With homeowners accessing £804m of equity between January and June, second charge mortgages were responsible for more than ten times the lending activity seen in the buy-to-let market – coming in at £804m vs. £76m.
First ‘mortgage prisoners’ court trial starts today
Jul 23, 2024 · Following the global financial crash of 2008, the government took over Northern Rock and sold the mortgages it held of an estimated 200,000 homeowners to inactive lenders who have been accused of exploiting customers by charging unfairly high interest rates.
Blog: How mortgage lenders can adopt digital-first strategies
Around 70% of banks allow customers to set up an account online, yet the level of digitisation plummets when it comes to mortgages. Although automation rates are higher than pre-Covid levels, lenders, on average, automate less than 30% of their mortgage decisions by using an automated valuation.
Starling fined £29m for high-risk customer screening failures: FCA
Oct 2, 2024 · The FCA says Starling agreed to restrict opening new accounts for high-risk customers until this improved. But it says Starling “failed to comply” with this agreement and opened over 54,000 accounts for 49,000 high-risk customers between September 2021 and November 2023.
Ten of the biggest fraud and money laundering scandals from the …
Jan 13, 2020 · Money laundering and fraud cost UK businesses, citizens and the government more than £100 billion a year, according to the National Crime Agency.The effects can have a devastating impact on ordinary people as well as businesses and the government.