News

Londoners paying most stamp duty

2019-08-18T23:01:57+00:00 August 18th, 2019|News|

Londoners are paying more in stamp duty than the rest of the market according to the latest research by Benham and Reeves. Comparing data from 2008 to 2018, it shows that despite the number of property transactions in London accounting for 11.3% of the overall total the amount of stamp duty paid by London home [...]

FTBs unaffected by Brexit

2019-08-15T23:01:20+00:00 August 15th, 2019|News|

The number of first-time buyers (FTBs) reached 170,080, a 3% year-on-year increase and the highest figure since 2007 according to Yorkshire Building Society. FTBs are reportedly now representing over half (52%) of all UK homes bought with a mortgage, which is the highest market share since 1995. Nitesh Patel, strategic economist at Yorkshire Building Society, [...]

Landlords face £100k in costs evicting rogue tenants

2019-08-14T23:01:53+00:00 August 14th, 2019|News|

Landlords face costs of up to £100,000 when evicting rogue tenants, according to the latest research by independent letting and sales agent Benham and Reeves. The research looks at the financial impact a rogue tenant can have on a landlord’s buy-to-let investment based on factors such as lost rent, mortgage payments with no rental income, [...]

S&P affirms Pepper UK loan servicing ranking

2019-08-14T04:49:33+00:00 August 14th, 2019|News|

Global ratings agency Standard & Poor has affirmed the ranking of ‘above average’ for Pepper UK as a primary and special servicer of residential and commercial mortgages in the UK. S&P refer to this ranking as a servicer who demonstrates very high ability, efficiency, and competence in managing medium- to large-size portfolios, as well as [...]

ASTL: Bridging lending and applications hit record levels

2019-08-13T03:51:03+00:00 August 13th, 2019|News|

Bridging loan books grew to a record £4.62bn whilst applications were at a 12 month high at the end of Q2, figures from the Association of Short Term Lenders show.  The loan book growth represents an 11.7% uptick when compared to Q1 2019 and is up 14.4% on the same quarter last year. In the [...]

Why consumer segmentation is the future of specialist lending

2019-08-12T06:24:04+00:00 August 12th, 2019|News|

Craig McKinlay is new business director at Kensington Mortgages The mortgage market is certainly healthy – and there is a large degree of competition amongst lenders – but the industry needs to ensure new products are consumer and value led, not simply serving the requirements of the internal market. With society changing at such a [...]

Construction output drops by 1.3% in Q2

2019-08-09T11:10:13+00:00 August 9th, 2019|News|

Construction output dropped by 1.3% in Q2, partly due to a fall in private housing repair and maintenance, the ONS’s Construction Output data has showed. The decrease was driven by a fall of 2.6% in repair and maintenance in Q2, which was largely because of the 6% decline in private housing repair and maintenance, with [...]

ASTL to hold AML workshop

2019-08-09T06:12:29+00:00 August 9th, 2019|News|

The Association of Short Term Lenders (ASTL) is set to hold an Anti Money Laundering (AML) workshop next month. The workshop is being chaired by Ray Cohen of Jackson Cohen Associates and will cover AML basics, including the three stages of AML; personal liability; company obligations; ID, sanctions and PEPs; and fraud implications. Benson Hersch, [...]

Paragon migrates development finance portfolio to Phoebus

2019-08-07T23:01:22+00:00 August 7th, 2019|News|

Paragon Bank has completed the migration of its development finance lending portfolio onto the Phoebus development finance module. Titlestone was already a Phoebus user and the migration means Paragon’s whole portfolio, with a total value of over £570m, will now be serviced on the Phoebus platform. Richard Pike, sales and marketing director at Phoebus Software, [...]

The importance of advising on protection

2019-08-07T06:00:31+00:00 August 7th, 2019|News|

Neal Jannels (pictured) is managing director of One Mortgage System (OMS) The potential attached to the selling of protection has been highlighted for many years, but it is still widely undersold by many mortgage intermediaries. This is due to a combination of factors. It can be a complex area for advisers not well versed in [...]