The Financial Ombudsman Service has acted as “a quasi-regulator,” says the Treasury, and has set out a new path for the disputes body, which will see it defer to the Financial Conduct Authority. The consultation report, prepared by Economic Secretary to the Treasury Emma Reynolds… The post Treasury report pegs back role of ‘quasi-regulator’ FoS appeared first on Mortgage Strategy.
Accord Mortgages has directly responded to the relaxation of limits on higher-loan-to-income (LTI) lending, with swift enhancements to its product range. Under new guidance from the Financial Policy Committee major lenders will be able to top their current 15% loan-to-income ratio limits to allow for… The post Accord responds to LTI limit changes with enhanced FTB options appeared first on Mortgage Strategy.
The Financial Conduct Authority and the Financial Ombudsman Service plan to work together on high-volume complaints between consumers and firms to cut the time it takes to settle disputes. Both bodies, like several City regulators, are under pressure to relax regulations to fall in line… The post FCA and FoS to work on disputes, FoS confirms lower consumer payouts appeared first on Mortgage Strategy.
The Financial Conduct Authority has pledged it will speed up the authorisation for individuals and firms. The regulator has promised to meet new voluntary targets in a letter to the chancellor today. It will also have to meet new statutory targets, which will be consulted… The post FCA promises to speed up authorisations appeared first on Mortgage Strategy.
The Mortgage Lender has expanded its residential and buy-to-let criteria, while Somo cuts rates across all first and second charge bridging products. The Mortgage Lender has expanded eligibility for non-UK nationals who do not yet have indefinite leave to remain, “but have demonstrated stability and… The post TML boosts resi and landlord criteria, Somo cuts first and second charge rates appeared first on Mortgage Strategy.
Mortgage Advice Bureau (MAB) has appointed Sam Toms to its lending team. Toms will step into a new role in the business as lender relationships account manager. Having led MAB’s Events team for the last 10 years, Toms will now report to Rachel Geddes, strategic… The post Mortgage Advice Bureau hands Toms new role appeared first on Mortgage Strategy.
Quantum Mortgages has promoted Zouhair Mihramane from business development manager to national account manager. Mihramane joined the specialist buy-to-let and bridging lender in May 2024 to manage sales across south London, the M4 corridor and south Wales. Since the beginning of the year, his role… The post Quantum promotes Mihramane to national accounts role appeared first on Mortgage Strategy.
Plans to ban upwards-only rent reviews in commercial leases will “undermine property values”, say property professionals. Deputy Prime Minister Angela Rayner included the measure in the government’s English Devolution and Community Empowerment Bill last week. The legislation proposes to abolish these clauses in new commercial leases… The post Upwards-only commercial lease ban will ‘undermine property values’ appeared first on Mortgage Strategy.
Paragon Bank has cut rates on two-year fixed rates for buy-to-let at 75% LTV by 11 basis points, with rates now starting at 4.24% The lender has a choice between zero-fee deals and those with a 3% charge. Rates start at 4.24% to purchase or… The post Paragon cuts prices by 11bps appeared first on Mortgage Strategy.
The FHL Group, parent company of Foundation Home Loans, has acquired specialist lender Catalyst Property Finance. Catalyst will maintain its brand identity and continue to run as a separate entity with no planned operational or team changes. The lender specialises in refurbishment loans, bridging finance,… The post The FHL Group acquires Catalyst Property Finance appeared first on Mortgage Strategy.
