Vida Bank’s parent posted gross mortgage lending that more than doubled to £348m in the first six months of the year. Vida Group Holdings said its lending operation had made a strong start in its first full year as a bank, after gaining regulatory… The post Vida more than doubles H1 gross mortgage lending appeared first on Mortgage Strategy.
The UK economy may be heading for a ‘bumpy landing’ warned a Bank of England rate-setter — but this comes as Britain is forecast to be the second-fastest growing advanced economy in the world by the International Monetary Fund. The Bank’s Monetary Policy Committee… The post BoE’s Taylor warns UK economy heading for ‘bumpy landing’ appeared first on Mortgage Strategy.
House prices in England and Wales decreased by 3% on an annual basis in September, according to the latest e.surv house price index. The data reveals that the average house price in September totalled £355,100, which is unchanged from August. While sales activity has improved,… The post House prices in England and Wales decline by 3% YoY in September: e.surv appeared first on Mortgage Strategy.
Since Covid, the number of people in the industry working from home (or in a hybrid capacity) has risen to 85% yet mental health and wellbeing is at its lowest level ever, according to research from the Mortgage Industry Mental Health Charter (MIMHC) MIMHC co-founder… The post WFH not helping broker mental wellbeing: MIMHC appeared first on Mortgage Strategy.
Clydesdale Bank has updated its valuation fees for properties up to £3m. For all new purchase and remortgage applications on both residential and buy-to-let (BTL), the lender will cover the valuation cost. If the property is over £3m, the borrower pays the difference in fee… The post Clydesdale makes valuation fee changes, Hodge cuts rates appeared first on Mortgage Strategy.
SDKA has launched of automated valuation models (AVMs) for first-charge residential purchase transactions to accelerate its time-to-cash. The service has been launched utilising Hometrack. The lender will ask every client to do a video walk around of the properties with one of their experienced underwriters.… The post SDKA accelerates time-to-cash with launch of residential AVM appeared first on Mortgage Strategy.
Legal & General has appointed Scott Wheway as its new chair, taking over from Sir John Kingman, who has served on the board for nine years. The financial services giant says Wheway will join its board on 2 January as an independent non-executive director and chair… The post Legal & General appoints Wheway as chair appeared first on Mortgage Strategy.
Barclays has made further improvements to its affordability calculations for customers. The bank has increased the amount of regular bonus, overtime and commission income up to 4x basic salary plus allowances. For example, someone in a commission-heavy industry on a basic annual salary of £30,000… The post Barclays increases cap on bonus, overtime and commission income appeared first on Mortgage Strategy.
MQube has tokenised £1.3bn of mortgage debt on the blockchain. The tokenisation of mortgage assets via an EVM compatible chain, sees MPowered and lending arm of MQube become what is said to be the first in Europe to have its mortgage debt tokenized on-chain. The… The post MQube tokenises £1.3bn of mortgage debt on blockchain appeared first on Mortgage Strategy.
The Financial Conduct Authority will begin testing open banking finance with mortgage firms next month. The three-month ‘techsprint’ will begin on 17 November, with the regulator inviting home loans industry firms to apply for the trial “to simulate and test data sharing”. It adds:… The post FCA to run open banking mortgage tests appeared first on Mortgage Strategy.
