OneDome snaps up Coreco – Mortgage Finance Gazette
Dec 5, 2024 · OneDome has acquired Coreco Group for a “seven-figure sum” pending approval by the FCA. Coreco directors Andrew Montlake and Julian Ingall and the existing management team will remain in their roles following the takeover by the digital homebuying platform. The pair will also join OneDome’s ...
Budget 2024: Right to Buy scaled back and social rents to climb
Oct 30, 2024 · She said: “We will put the right policies in place to increase the supply of affordable housing, having heard representations from local authorities, social housing providers and from Shelter, I can today confirm that the government will reduce Right to Buy discounts and local authorities will be able to retain the full receipts from anything so …
Tough month for UK housebuilders: PMI – Mortgage Finance …
Dec 5, 2024 · “In fact residential construction has contracted for two months in a row, and November’s decline was the fastest seen since summer. “With residential developers still chafing at high interest rates – which make it more expensive for them to buy land and build homes – and patchy consumer demand, the Government’s promise to get 1.5 million more homes built in England over the next ...
Mortgage defaults are rising, say lenders: BoE
Oct 10, 2024 · In the second quarter of the year, there were 96,070 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in the second quarter of 2024, broadly unchanged from in the previous quarter, according to UK Finance figures.
BoE rate hold as expected but hopes for cuts in 2025
Dec 19, 2024 · He added: “The news might trigger some negative responses, particularly among property buyers holding out hope for lower mortgage rates. However, Governor Bailey has strongly indicated that the base rate could be cut by 1% across the next 12 months, which will likely result in a significant surge in buyer demand and market activity in the new year.
Barclays debuts FTB deals, cuts rates by up to 50bps
Oct 3, 2024 · Two-year premier fixes, with a £899 fee, at 60% LTV, down by 23bps to 3.96% — minimum loan £5,000, maximum loan £2m; Five-year premier fixes, with a £999 product fee, at 90% LTV, down by 18bps to 4.42% — minimum loan £5,000, maximum loan £570,000
Barclays reduces rates by up to 0.50% – Mortgage Finance Gazette
Oct 10, 2024 · For purchase and remortgages, the two-year fixed at 75% LTV and a product fee of £1,999 has been lowered from 4.65% to 4.34%. It has a minimum loan of £2 million and maximum of £5 million.
Landlords upbeat over portfolios for year: Butterfield
Oct 14, 2024 · This is according to Butterfield Mortgages whose survey of 501 UK landlords with BTL mortgages, found that two-thirds (60%) are optimistic – both in terms of capital growth and rental returns – about the future performance of their property investments.
TSB fined £11m over treatment customers in arrears: FCA
Oct 10, 2024 · The City watchdog says the high street bank “lacked suitable systems and controls to secure fair outcomes for these customers”. Apart from a £10.9m fine to the regulator, it has paid £99.9m in redress to 232,849 mortgage, overdraft, credit card and loan customers affected by …
J.C. Flowers acquires Pepper Global’s credit management business
Nov 5, 2024 · The transaction is expected to complete in the first quarter of 2025, pending regulatory approvals and other customary closing conditions. Following the transaction completion, Pepper Advantage will continue to operate as an independent entity, with its existing management team leading the company’s strategic initiatives.