Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it
Buy to Let at last starts to grow |
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Friday, 13 November 2009 13:51 |
Gross lending in the buy-to-let mortgage market grew in the third quarter, the first time an increase has been reported in two years, according to the Council of Mortgage Lenders (CML). Lending of £2.1 billion was 10% higher than in the previous three months, while the number of loans advanced also improved. Despite the upturn, the CML said the recovery was from a low base, with lending volumes still much lower than their 2007 peak. "The recovery is modest but the figures show that buy-to-let is here to stay," said the CML's director general Michael Coogan. "Buy-to-let lenders are among those facing some of the biggest challenges in raising mortgage funding, so the improved figures are all the more welcome." |
New mortgage regulations unveiled by FSA |
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Tuesday, 20 October 2009 07:51 |
MortgageFinders are busy reviewing the new proposals revealed yesterday by the Financial Services Authority (FSA) in a discussion document. The industry has until 30th January to comment and MortgageFinders will be feeding into this debate. The body has set out a raft of new proposals for major reforms in the UK mortgage market, with the aim of ensuring that the sector works better for consumers and becomes more sustainable for market participants. Key features of the review include: imposing affordability tests for all mortgages and making lenders ultimately responsible for assessing a consumer's ability to pay; banning self certification mortgages through required verification of income; and banning arrears charges when a borrower is already repaying, thus ensuring firms do not profit from people in arrears. |
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Read more... [New mortgage regulations unveiled by FSA]
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