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Will cuts in Funding for Lending (FLS) affect mortgages?

Will mortgages be harder to get, or more expensive, now that the lending for residential loans is to be removed from the government-backed Funding for Lending scheme?  That is the question which now faces prospective house-buyers. Funding for Lending (FLS) was introduced last year, providing cheap central bank funding to banks and building societies to […]


Mortgage Approvals and House Prices go down

According to an article in the Mortgage Finance Gazette, there has been a drop in mortgage approvals for the month of June compared with May.   The  figures show that there were 47, 643 loan approvals for house purchases, which was lower than the May figure of 49, 461   Furthermore, Nationwide reported that house prices fell by […]


FSA to ban Self Cert Mortgages

According to Reuters (13. 7. 10) FSA are to ban ‘self cert’ mortgages as new rules will require evidence of income to be produced. ‘Self cert’ mortgages are where a borrower has obtained a mortgage by self certifying his income, i.e. they have not produced evidence of their income to the lender. ‘Self cert’ mortgages played […]


Six Mortgage Advisers Banned by the FSA

  Six mortgage advisers were banned by the Financial Services Authority (FSA), yesterday, due to mortgage fraud. One of them was fined £130, 000 and the total number of brokers to have been banned this year is now 91. Click here to read the full report by ‘IFAonline’ published on 5 July 2010. The FSA are […]


Mortgage Fraud is on the increase – Conveyancers Beware!

The Law Society Gazette reported on 17th June 2010 that mortgage fraud continues to rise based on the latest figures issued by the Solicitors Regulation Authority. These figures are particularly worrying for conveyancers. Peter Rodd, a member of the Law Society’s money laundering task force, said that most of the £15bn of criminal funds is […]


Platform launches a Joint Mortgage for Joint Property Buyers

The mortgage lender, Platform, has just launched a new product solely for joint property buyers. They say that research has shown that those with joint mortgagees tend to ‘perform better’ than those with a mortgage in their sole name. They are therefore able to offer favourable rates to joint applicants. Click here for the full […]


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