RAW Capital Partners has updated its lending criteria for new-build properties. Under the updated criteria, RAW Capital Partners will no longer apply a new build premium deduction when valuing new-build properties. Lending will now be based on current market value, subject to a maximum loan-to-value… The post RAW Capital Partners updates new build lending criteria appeared first on Mortgage Strategy.
UK Finance director of mortgages Charles Roe will be stepping down from his role on 31 March to take on a portfolio of non-executive appointments. Roe has led the mortgages function since the 2020 Covid-19 pandemic. Since joining UK Finance, Roe has led its response… The post UK Finance’s Roe to step down as director of mortgages appeared first on Mortgage Strategy.
Buyer demand has fallen by 13% in March compared to the same month last year, as surging mortgage rates and uncertainty have impacted confidence. The latest house price index from Zoopla shows that annual growth in asking prices has remained stable month-on-month at 1.3% in… The post Buyer demand drops 13% as Iran war shakes confidence: Zoopla appeared first on Mortgage Strategy.
Net borrowing of mortgage debt by individuals increased to £4.8bn in February, from £4.2bn in January, the Bank of England Money and Credit data reveals. The rise is February is also above the previous six-month average of £4.5bn. Data also shows that net mortgage approvals… The post Borrowing rises to £4.8bn in February: BoE appeared first on Mortgage Strategy.
TSB is making further rate increases on Tuesday, this time of up to 35 basis points on product transfer deals. The lender has made several price hikes to various products already this week. TSB previously raised fixed rates by 45bps. The latest hike from TSB… The post TSB to hike product transfer rates by 35bps appeared first on Mortgage Strategy.
The lending market has been swept by a fresh wave of repricing as shifting fiscal expectations and rising swap rates put upward pressure on borrowing costs. Halifax, Nationwide and Accord make major rate hikes, while reports suggest Labour is planning to equalise CGT and income… The post Mortgage Strategy’s Top 10 Stories: 23 Mar to 27 Mar appeared first on Mortgage Strategy.
Average rates saw a sharp weekly spike this week as some product categories surged by 58 basis points and more than 50 lenders raised prices. Moneyfacts’ rate watch data shows severe increases since last Friday, but the movements have not yet been as steep as… The post Sharp jump in rates has yet to match Truss turmoil appeared first on Mortgage Strategy.
The shared ownership market is complex for homeowners to understand and lacks essential data for proper oversight, the National Audit Office (NAO) has found. The NAO singled out a lack of market data, high service charges, staircasing issues and issues with consumer redress as particular… The post Shared ownership poorly understood and complex, says NAO appeared first on Mortgage Strategy.
The latest Statutory Instruments for the Renters’ Rights Act, laid out recently in Parliament, mark the point where reform moves into reality. From 1st May, the changes are no longer theoretical. They begin to shape how landlords operate and how brokers structure and advise on… The post Blog: Why we are already seeing the impact of the Renters Rights Act appeared first on Mortgage Strategy.
The mortgage industry has long treated compliance as a capacity problem. There aren’t enough hours in the day to review every file, so you review a sample and call it a risk-based approach. Nobody decided 10% for sampling was the right number. It became the… The post Blog: Sampling isn’t a strategy appeared first on Mortgage Strategy.
