Credit unions saw the overall interim profit of these firms rise by 12.2% to £12.8m in the first quarter of the year, “driven by increases in England and Scotland, as falls in total income were offset by even greater falls in total expenditure in both… The post Credit unions see profits rise in Q1: BoE appeared first on Mortgage Strategy.
A few lenders increase selected fixed rate mortgages earlier in the week, including major banks, but cuts followed by other lenders as the week drew to a close. As Moneyfacts finance expert Rachel Springall highlights these moves led to a slight rise of 0.01% to… The post Week sees mixture of rate rises and cuts: Moneyfacts appeared first on Mortgage Strategy.
The Welsh government has launched a consultation aimed at softening its holiday let rules. Under current rules, self-catering holiday lets must be available for 252 days and actually let for 182 days each year to pay non-domestic rates instead of council tax. Cardiff says these… The post Wales consults on easing holiday let rules appeared first on Mortgage Strategy.
The Financial Conduct Authority (FCA) has appointed Will Self as chair of its Smaller Business Practitioner Panel. He will take up his role from 1 September. Self will lead the independent panel in providing advice and representing the interests of smaller regulated firms. Welcoming the… The post FCA appoints Self as chair of Smaller Business Practitioner Panel appeared first on Mortgage Strategy.
Two-thirds of homebuyers say they do not understand how intermediaries are paid their fees, according to data from Boon Brokers. Its poll finds that 67% of buyers who applied for a mortgage over the last two years through a broker “felt they did not receive… The post Two-thirds of homebuyers confused by broker fees appeared first on Mortgage Strategy.
This week’s top headlines: Chancellor’s property tax proposals set to hit Londoners, and landlords face national insurance hike on rental income. Explore these and other major industry updates below: Chancellor’s property tax proposals set to hit Londoners: Compare My Move Labour’s proposed property tax… The post Mortgage Strategy’s Top 10 Stories: 25 Aug to 29 Aug appeared first on Mortgage Strategy.
1. What do the Kray twins and Rudolf Hess have in common? 2. Who famously said this? “I’ve been through more cold turkeys than there are freezers.” 3. The biggest-selling book of the 20th century has sold over 150 million copies. What is its title?… The post Quick Quiz: Questions and answers appeared first on Mortgage Strategy.
The Serious Fraud Office has admitted that the convictions it secured against five bankers for Libor interest rate-rigging may be unsafe, following the Supreme Court overturing the conviction of Tom Hayes last month. The prosecutor says today that its cases against Jonathan Mathew, Jay Merchant, Philippe Moryoussef, Alex… The post SFO admits five more Libor rigging convictions may be unsafe appeared first on Mortgage Strategy.
Leeds Building Society is reducing rates across its residential and first time buyer mortgage ranges by up to 35bps from 29 August and introducing new products for first time buyers at both 90 and 95% LTV. These products are the latest in a series of… The post Leeds BS and Principality confirm selected rate changes appeared first on Mortgage Strategy.
Home loan fixed-rate prices edged higher this week despite the Bank of England cutting the base rate this month, data from Moneyfacts shows. The average mortgage rate has risen by a single basis point to 5.01%, says the data group. Within this, average two-year… The post Mortgage rates edge higher despite base rate cut: Moneyfacts appeared first on Mortgage Strategy.
