Aspen’s desktop valuations approach has saved a developer from significant penalty charges, with the lender able to confirm their £1.45m offer on Christmas Eve having only received the application on 22 December. The applicant’s existing development finance facility was due to expire and delays caused by Covid-19 meant the term refinance would not complete in […]
UK rent levels continued to rise faster for larger properties during the last quarter of 2020, according to The Deposit Protection Service (The DPS). In the latest edition of its quarterly Rent Index, which is based on its database of 1.8 million current tenancies and 13 years of data, The DPS shows that the average […]
Research by lettings and estate agent, Barrows and Forrester, has found that UK tenants are looking at the long-term picture while Covid remains a prominent threat. Properties available within 12 months are currently seeing the largest demand from renters compared to those available more immediately. Barrows and Forrester analysed the appetite for rental properties across […]
‘Product-less’ lender, Octane Capital, which is rapidly approaching £1bn of completions, today announced it has passed £500m of redemptions since launching in May 2017. Despite the combined challenges of Brexit and the Covid-19 pandemic, a significant 40% (£200m) of the redemptions have been by way of sale. 60%, or £300m of the redemptions, were achieved […]
Research by the world’s leading high-net-worth mortgage broker, Enness Global, has revealed to just what extent the current stamp duty holiday in its various forms across the UK has helped boost the market, as well as homebuyer thoughts around missing and extending the current deadline. Enness surveyed 1,000 current homebuyers and asked them: – – […]
Further to the FCA’s consultation announced today, mortgage lenders support the further extension to the moratorium on possessions to 1 April 2021. The extension will help provide reassurance to both residential and buy-to-let borrowers that they will not have their homes repossessed at this difficult time. The continued support from banks and building societies follows […]
The UK’s largest property services group, Countrywide, has announced that Countrywide Surveying Services has renewed its partnership with Santander through a contracted appointment to be the bank’s primary valuation provider. This comes with a new five-year agreement. In August 2019, Santander partnered with Countrywide Surveying Services to become the first lender to offer a mortgage […]
Brightstar Financial has partnered with Selina Finance to provide semi-exclusive distribution of the lender’s overdraft-style lending facilities. Selina Finance offers pre-approved credit facilities from £25k to £1m where borrowers can draw and repay funds whenever they choose, without incurring additional fees or penalties and only paying interest on the amount that is outstanding. After the […]
West One is starting 2021 with its biggest ever set of second charge changes including rate reductions and a major overhaul of processes and supporting criteria. These latest improvements are designed to increase the opportunities for West One’s broker partners to place business and significantly improve the customer experience by speeding up the offer […]
Knowledge Bank, the UK’s largest mortgage criteria search system, has promoted Matthew Corker to the position of operations director. Knowledge Bank provides brokers with the ability to search over 120,000 criteria in seconds, and in this new role, he will be working on new developments to ensure the system provides brokers with everything they need. […]
