Archive | Mortgages

DA vs AR: FCA network criticism highlights attraction of independence

The debate between being directly authorised (DA) or an appointed representative (AR) has been raging through 2017. Phil Whitehouse, managing director of MCI Mortgage Club, argues why brokers may want to go DA in 2018. The Financial Conduct Authority (FCA) has issued a stark warning to mortgage networks about the need for greater responsibility over […]

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First-time buyers facing mortgage rate shock

Thoughts of a base rate rise are already impacting the mortgage market, with our latest data showing that the average two-year fixed mortgage rate has experienced an increase at all loan-to-values (LTVs) in the last month – yet it’s rates at 95% LTV that have been hardest hit, which means first-time buyers may need to […]

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FCA TO SHAKE-UP INTEREST-ONLY MORTGAGE RULES

The Building Societies Association (BSA) has welcomed a proposed regulatory shake-up that could widen the availability of retirement interest-only mortgages. The Financial Conduct Authority is consulting on the removal of a regulatory barrier to allow ‘retirement interest-only mortgages’ for older consumers, in which the loan would only be repaid on a specified life event such […]

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House prices stabilise as number of homes on the market falls

Property values rise slightly for the second month in a row even as transactions and mortgage approvals decline A shortage of homes for sale has kept house prices rising despite falling consumer incomes and political uncertainty, according to Nationwide. The building society said the price of the average house went up by 0.3% in July to […]

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