MyIntroducer.com's Blog!

Residential development land values in England rise by the strongest rate since 2005

2010-05-11T03:02:00.000-07:00

According to the Knight Frank Residential Development Land Index, Q1 2010 results:

"Average residential land prices in England rose by 11.5% in the 12 months to the end of March 2010, the strongest rate of growth since the first quarter of 2005..."

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Lenders, surveyors & landlords call for bold action to build new rented housing sector

2010-05-11T02:56:00.000-07:00

According to the British Property Federation:

"A group representing the countrys major landlords, property investors, mortgage lenders and surveyors is calling on the next gov to alter the tax system to encourage large scale house building from institutions, such as pension funds & insurance companies..."

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RICS: Housing market still picking up, say surveyors

2010-05-11T02:53:00.000-07:00

According to the April 2010 RICS Housing Market Survey:

"The net price balance increased from +9 to +17, indicating a greater number of surveyors witnessed an increase in house prices over the last three months..."

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Industry experts comment on the first hung parliament for decades

2010-05-07T02:59:00.000-07:00

David Cameron's Conservatives win the most seats in the general election - but not enough to secure an overall majority:

"A hung parliament doesn't have to mean the end of life as we know it..."

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Personal insolvencies remain high

2010-05-07T02:56:00.000-07:00

The first quarter statistics published today by the Insolvency Service show:

"There were 35,682 individual insolvencies in England and Wales in the first quarter of 2010. This was an increase of 17.9% on the same period a year ago..."

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Budget deficit will continue to drive up cost of mortgage lending

2010-05-07T02:52:00.000-07:00

The AMI has released its latest Quarterly Economic Bulletin looking at the economy, housing and mortgage markets:

"Gross mortgage lending will be around £150bn for 2010, slightly ahead of the £143bn managed in 2009, but still far below the £363m peak in 2007..."

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House prices up 6.6% on 2009, say Halifax

2010-05-07T02:49:00.000-07:00

The latest results from the Halifax House Price Index reveal:

"House prices in April were 6.6% higher on an annual basis, this was the largest increase in the annual rate of change..."

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UK mortgage products increase by over 1,000

2010-05-06T03:37:00.000-07:00

Latest figures from TrigoldCrystal's mortgage product index show that:

"In the 12 months from May 2009, the level of mortgage products in the UK increased by over 1,000 from 3,606 to 4,989 and over 2,000 more from the lowest point of the market in Aug 2009..."

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Prime London house prices rise 1.3%

2010-05-06T03:33:00.000-07:00

The Knight Frank Prime Central London Residential Index reveals:

"The prime London market recovery has continued into its second year, with prices rising continually for 13 straight months..."

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UK house prices increase 8.8% annually

2010-05-06T03:27:00.000-07:00

The latest figures from Assetz House Price Watch show that house prices were 8.8% higher in March than at the same time in 2009:

"House prices are now just 7.5% below the peak house price of £215,089 recorded in October 2007..."

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BoE: Mortgage approvals rise

2010-05-04T03:02:00.000-07:00

The Bank of England reveal:

"Total net lending to individuals rose by £0.6 billion in March. The twelve-month growth rate was unchanged, at 0.9%..."

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BSA: Gross lending at mutuals up 36% in March

2010-05-04T02:57:00.000-07:00

According to the Building Societies Association:

"Gross lending by mutuals increased to £1,597 million in March, up 36% compared to £1,174 million in February. Approvals were also stronger at £1,677 million compared to £1,389 million in February - a 21% increase..."

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Valuations up 43% on 2009

2010-05-04T02:54:00.000-07:00

According to the latest research by Connells Survey and Valuation:

"Despite fears over the impact of the impending election, the housing market remains active. The number of valuations conducted only dipped by 4% in April compared to April 2009..."

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House price forecasts show continued rise

2010-05-04T02:51:00.000-07:00

According to cebr:

"Average UK House prices will grow to be 5 per cent higher at the end of 2010 than at the beginning despite the sluggish start to the year. Average mortgage rates are likely to fall from a current APR of around 4% to about 3% by Q1 2011..."

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Mutuals retain customer service crown

2010-04-30T01:09:00.000-07:00

According to the Building Societies Association:

"Mutuals have consistently outperformed plc banks across various aspects of customer service, including treating customers fairly, value for money and being trusted to give good advice..."

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Housing sales up 9.6%

2010-04-30T01:06:00.000-07:00

The latest Agency Express Property Activity Index shows:

"UK house sale growth stagnated in April in the run-up to the General Election. Nationally, the number of houses sold in April was 0.7% down on those sold in March but was still 9.6% up on April 2009..."

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Stamp-duty announcement fails to boost first-time buyer outlook

2010-04-30T01:03:00.000-07:00

The latest Rightmove Consumer Confidence Survey reveals:

"The proportion of first-time buyers expecting to enter the market over the next 12 months is at a virtual standstill compared with last quarter..."

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Barclays profits rise 47%

2010-04-30T00:59:00.000-07:00

Barclays Q1 Interim Management Statement reveals:

"Group profit before tax for the three months ended 31st March 2010 was £1,820m (2009: £1,239m), an increase year on year of 47% (£581m)..."

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Taylor Wimpey sees further housing recovery

2010-04-29T02:39:00.000-07:00

Taylor Wimpey reveals:

"UK housing market conditions remain encouraging, with continued gradual improvements in mortgage availability and buyer confidence..."

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RICS: Commerical property upswing continues

2010-04-29T02:36:00.000-07:00

The latest RICS Global Commercial Property Survey from RICS reveals:

"Recovery in real estate markets around the world continues to gain traction..."

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Nationwide: House price inflation reaches double digits

2010-04-29T01:32:00.000-07:00

The latest Nationwide House Price Index reveals:

"House prices increased by 1.0% month-on-month in April, annual rate of price inflation moves into double digits for first time since June 2007, house prices are 10.0% below the October 2007 peak..."

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Abbey to reduce fixed rates again

2010-04-29T01:28:00.000-07:00

Tomorrow, Abbey for Intermediaries are reducing the rate by up to 0.20% on select 70% LTV, Fixed rate products:

"Reductions as follows: 2 year Fixed rate, Homebuyer, Homebuyer Plus and Remortgage products, 3.44% with a £995 fee..."

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Purchase instructions and completions continue to rise

2010-04-28T07:48:00.000-07:00

Conveyancing Alliance Ltd, the online conveyancing distributor, today revealed:

"Strong year-on-year increase in both purchase instructions and completions, however remortgage activity remains subdued..."

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60% of Britons waking up to housing crisis

2010-04-28T07:46:00.000-07:00

According to the SmartNewHomes.com election poll:

"Around 60% of Britons believe that there is a shortage of new homes in the UK, , suggesting that the public is waking up to the housing crisis unfolding around the country..."

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Strict lending criteria hits 'High End' residential mortgage market

2010-04-28T07:41:00.000-07:00

Investec Specialist Private Bank says:

"Increased lending restrictions from banks and building societies has resulted in a growing number of high net worth individuals finding it difficult to secure mortgages of £1million or more..."

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FSA charges ex-hedge fund trader

2010-04-28T07:38:00.000-07:00

Today the Financial Services Authority charged:

"Anjam Ahmad, an ex-hedge fund trader, with one count of conspiracy to commit insider dealing contrary to Section 1 of the Criminal Law Act 1977..."

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BBA: UK march mortgage approvals rise 4.6%

2010-04-27T03:25:00.000-07:00

The British Banker's Association reveal:

"4.5% annual growth in the banks' net mortgage lending substantially exceeds annual growth of just 1% across the whole market in February, as banks continue to provide the majority of all mortgage finance..."

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Mortgage rates at lowest level in a year

2010-04-27T03:22:00.000-07:00

Moneyfacts.co.uk reveal:

"When bank base rate dropped to 0.50% last year the mortgage market entered unchartered waters. Initial reductions in mortgage rates were soon wiped out as lenders took an increasing margin for risk..."

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Lloyds Banking Group returns to profit‎

2010-04-27T03:19:00.000-07:00

Lloyds Banking Group revealed today:

"In the first quarter of 2010 Llloyds Banking Group returned to profitability on a combined businesses basis due mainly to a significant slowing of impairments in the wholesale business..."

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Country house prices continue to increase

2010-04-20T06:10:00.000-07:00

According to the latest figures from the Knight Frank Prime Country House Index:

"Prime country house prices rose on average by 2.0% in the first quarter of the year and are now 4.3% higher than they were 12 months ago..."

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FSA to investigate Goldman Sachs

2010-04-20T06:04:00.000-07:00

Following preliminary investigations:

"The Financial Services Authority (FSA) has decided to commence a formal enforcement investigation into Goldman Sachs International..."

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UK inflation rate rises to 3.4%

2010-04-20T05:53:00.000-07:00

In the year to March:

"The consumer prices index (CPI) rose by 3.4 per cent, up from 3.0 per cent in February. Over the same period, the retail prices index (RPI) rose by 4.4 per cent, up from 3.7 per cent in February..."

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Ponzi schemer jailed for ten years

2010-04-19T03:47:00.000-07:00

The Serious Fraud Office announce:

"Convicted fraudster Kevin Foster was jailed for ten years for running an unauthorised investment business and for stealing investors' funds through his £34 million KF Concept scheme..."

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CML: Gross mortgage lending up 24% in March

2010-04-19T03:44:00.000-07:00

According to data published today by the Council of Mortgage Lenders:

"Gross mortgage lending was an estimated £11.5 billion in March, a 24% rise from £9.3 billion in February and a 3% rise from £11.2 billion in March 2009..."

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April house price growth picks up

2010-04-19T03:41:00.000-07:00

The latest Rightmove House Price Index reveals:

"With the onset of the traditional moving season, new sellers coming to market ignored any pre-election jitters and economic woes and pushed up their average asking prices by 2.6% (£5,898) this month..."

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Goldman Sachs accused of subprime fraud

2010-04-19T03:38:00.000-07:00

The Securities and Exchange Commission have charged Goldman, Sachs & Co. for:

"Defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter..."

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FSA fines London IFA £24,500

2010-04-16T02:41:00.000-07:00

The Financial Services Authority today fined:

"Robin Bradford (Life and Pension Consultants) Ltd (Robin Bradford), a London based IFA firm, £24,500 for exposing customers to unacceptable levels of risk of receiving poor pension switching advice..."

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Buy-to-let market delivers improving returns as rents rise

2010-04-16T02:37:00.000-07:00

According to the latest Buy-to-Let Index from LSL Property Services plc:

"Landlords are celebrating an outstanding month in the buy-to-let market, with rising rents, rising house prices and falling arrears..."

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Housing stock on the increase, say NAEA ‎

2010-04-16T02:30:00.000-07:00

According to research from the National Association of Estate Agents:

"March has been an ecouraging month for the property market with a postive number of buyers looking to sell their home..."

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UK facing severe housing shortage

2010-04-14T03:52:00.000-07:00

According to Q1 research from the Association of Residential Lettings Agents:

"There is not enough rental property to meet consumer demand in the UK – and the situation is worsening. Insufficient supply of good quality property means that the private rented sector (PRS) is struggling to meet demand..."

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More green shoots in the housing market

2010-04-14T03:43:00.000-07:00

Data from moneysupermarket.com has revealed that:

"Activity in the mortgage market is steadily increasing across a variety of borrower profiles, meaning the spring homebuying season has kicked off strongly and looks set to continue..."

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Equity release sales rise 18%

2010-04-14T03:40:00.000-07:00

Independent equity release adviser, Key Retirement Solutions, say:

"Retired homeowners are increasingly using equity release to help family as the housing market recovery boosted cash released to £216.9 million in the first quarter of 2010..."

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General Election Manifestos and the property industry

2010-04-14T03:32:00.000-07:00

The British Property Federation says:

"It's good to see that housing and planning have got a good airing, but the worry is that amid all the idealistic thinking around localism may take some more work before it can be implemented..."

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UK house prices up 7.4%

2010-04-13T06:33:00.000-07:00

Latest UK house price index statistics, produced by Communities and Local Government, reveal that:

"The UK average house price rose by 7.4 per cent in the year to February 2010, compared with a rise of 6.2 per cent in the year to January..."

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CML: Mortgage market sees modest recovery

2010-04-13T06:29:00.000-07:00

According to the Council of Mortgage Lenders:

"January was extremely weak due to one-off factors such as the effect of the end of the stamp-duty exemption in December 2009 and the severe winter weather..."

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Legal & General to offer ING Direct mortgages

2010-04-13T06:25:00.000-07:00

Ben Thompson, Director, Mortgages at Legal & General said:

“We're really pleased to be in a position to bring another new lender to our panel, particularly one as innovative as ING Direct..."

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FSA fines and bans former Northern Rock deputy CEO

2010-04-13T06:13:00.000-07:00

The Financial Services Authority today fined the following:

"David Baker, former deputy chief executive of Northern Rock Plc (NR), £504,000 and Richard Barclay, former managing credit director at NR, £140,000..."

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House prices rise for eleventh month in succession

2010-04-12T06:40:00.000-07:00

Acadametrics estimate that:

"The average price of all residential property transactions completed in England & Wales in March 2010 was 1.1% higher than in February. This is the eleventh month in succession in which AcadHPI has increased on a monthly basis..."

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Prime Central London rents rise by 3.1%

2010-04-12T06:37:00.000-07:00

According to the latest data from property consultants Cluttons:

"Rents in Prime Central London rose by an average 3.1% over the first quarter of 2010, with five-plus bedroom houses seeing the highest uplift in rents at 7%..."

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60% of intermediaries don't use lead generation

2010-04-12T06:33:00.000-07:00

According to the results from the latest MyIntroducer.com poll:

"60.73% of intermediaries report that none of thier new business comes from purchasing leads..."

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Kensington Mortgage Company Limited fined £1.225m

2010-04-12T06:29:00.000-07:00

The Financial Services Authority (FSA) has today announced it has fined Kensington Mortgage Company Limited £1.225 million for poor treatment of some customers facing mortgage arrears:

"The firm has agreed to redress customers who were in arrears and charged specific unfair and/or excessive charges. It is estimated that the redress will cost the firm up to £1.066 million...."

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Northern Rock launches new fixed rate bond issue

2010-04-09T02:11:00.000-07:00

Northern Rock is launching a new issue of its Fixed Rate Bond:

"Offering a competitive rate for a minimum deposit of £1. The new Fixed Rate Bond (Issue 389) will be available to open from today (Friday, 09 April 2010)..."

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Abbey launch new two-year fixed rate deals

2010-04-09T02:08:00.000-07:00

Abbey for Intermediaries has today launched a range of new two year fixed rate mortgages:

"70% LTV, 2 year Fixed rate products from Abbey: Homebuyer and Homebuyer Plus products, 3.59% with a £995 fee. Remortgage product, 3.64% with a £995 fee..."

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TMA offers Abbey semi-exclusive three-year tracker deals

2010-04-09T01:57:00.000-07:00

The Mortgage Alliance (TMA) has today announced:

"An offer of semi-exclusive three-year homebuyer and remortgage tracker deals from Abbey for Intermediaries (AfI)..."

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Godiva reduce Buy to Let base rate tracker by 0.50%

2010-04-09T01:48:00.000-07:00

Godiva Mortgages announce that today they have:

"Reduced the pay rate on their 2 year Buy to Let base rate tracker by 0.50%. Previously this product was available at +3.85% above base for two years, and has now been slashed to +3.35%..."

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FSA issues £4.2m fines

2010-04-08T03:46:00.000-07:00

The Financial Services Authority has fined three firms a total of £4.2m for failing to provide accurate and timely transaction reports to the FSA:

"The three firms are Credit Suisse (£1.75m fine), Getco Europe Limited (£1.4m) and Instinet Europe Limited (£1.05m)..."

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Tory Economic Plan has strength of a house of cards, say Labour

2010-04-08T03:43:00.000-07:00

Gordon Brown issued a stark warning to voters that the Tories' economic plan has the strength of a house of cards which would risk the recovery:

“My aim is to secure the recovery and not put it at risk. Yesterday, the OECD reported that the UK is seeing one of the most robust returns to growth in the developed world..."

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Halifax: March house prices up 1.1%

2010-04-08T03:41:00.000-07:00

According to the latest Halifax House Price Index:

"House prices increased by 1.1% in March. This rise partly reversed February's 1.6% fall and was the eighth increase in the last nine months..."

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IFA convicted of mortgage fraud after drug raid

2010-04-08T03:34:00.000-07:00

According to a report by ThisIsGloucestershire.co.uk:

"Three people have been convicted of fraudulently taking out a mortgage on a house in the Forest of Dean following a lengthy and complex investigation..."

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Residential housing valuations increase 25%

2010-04-07T03:13:00.000-07:00

According to the latest research by Connells Survey and Valuation:

"The recovery of the housing market continued to pick up pace in March, with the number of valuations on compared to February..."

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Halifax council tax offer returns for homebuyers

2010-04-07T03:10:00.000-07:00

Halifax today announces the return of its offer available for homemovers and first time buyers:

"Designed to help with the costs of buying a new home, the offer means the lender will pay half of the first year's council tax bill, up to a maximum of £750..."

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Hung parliament could add £624 a year to mortgage

2010-04-07T03:08:00.001-07:00

easyroommate.co.uk report:

"As all long-term lenders price their mortgages with reference to the price of gilts – or units of government debt – mortgage rates are now rising as the cost of gilts rise..."

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BCC: UK economy facing serious risks

2010-04-07T03:01:00.000-07:00

According to a report from the British Chambers of Commerce:

"UK upturn is still on course, but the recovery is weak and the economy is facing serious risks..."

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Yorkshire and Chelsea building societies merger completed

2010-04-01T03:37:00.000-07:00

The merger of the Yorkshire and Chelsea building societies completes today:

"The enlarged Society will be known as Yorkshire Building Society, with the Chelsea Building Society name being retained and operated as a separate and distinct brand within the Yorkshire Group..."

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FSA: Seven charged with insider dealing

2010-04-01T03:33:00.000-07:00

The Financial Services Authority today charged seven people with 13 charges in respect of conspiracy to deal on inside information obtained by the defendants from two major investment banks:

"One defendant has additionally been charged with an offence in relation to money laundering..."

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The Mortgage Works launch new fixed and tracker mortgages

2010-04-01T03:30:00.000-07:00

The Mortgage Works (TMW) has announced a number of improvements to its range of mortgages as it continues its commitment to expanding and increasing competitive mortgage solutions for intermediaries:

"New 4.99% lifetime variable managed rate product with £1,899 arrangement fee, up to 70% LTV..."

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96% in favour of full regulation of the SRB market

2010-03-31T03:30:00.000-07:00

Bridgewater Equity Release has revealed the results of an academic survey conducted by Northumbria University with its support:

"The vast majority of respondents (96%) were wholly in favour of full regulation of the SRB market; currently the market is subject to interim regulation of which 75% of advisers were aware..."

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Call to clean up cash ISA market

2010-03-31T03:26:00.000-07:00

Consumer Focus is today submitting a super-complaint to the OFT about the £158 billion cash ISA market:

"The consumer champion estimates that 15 million cash ISA holders could be losing out in interest worth up to £3 billion a year because of the way the market operates..."

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Glasgow man pleads guilty to fraudulently obtaining mortgage funds of £250,000

2010-03-31T03:23:00.000-07:00

At Glasgow Sheriff Court today:

"Edward Lyons pled guilty to fraudulently obtaining mortgage funds of more than £250,000, between 2003 and 2005..."

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Nationwide: House price inflation eases

2010-03-30T05:58:00.000-07:00

Nationwide Building Society report:

"The price of a typical UK property rose by a seasonally adjusted 0.7% month-on-month (m/m) in March, largely reversing the 0.8% m/m fall measured in February..."

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UK economic growth revised upwards

2010-03-30T05:55:00.000-07:00

According to the Office of National Statistics:

"UK gross domestic product (GDP) in volume terms rose by 0.4 per cent compared with the previous quarter. This was revised from a rise of 0.3 per cent published last month..."

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RBS fined £28.5m

2010-03-30T05:52:00.000-07:00

According to the Office of Fair Trading:

"The Royal Bank of Scotland (RBS) has agreed to pay a fine of £28.59 million after admitting breaches of competition law between October 2007 and February or March 2008.."

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Debt management firm wound up

2010-03-29T02:51:00.000-07:00

The Secretary of State for Business, Innovation & Skills has presented a petition in the High Court to wind up 123 Finance Ltd in the public interest:

"The company, which traded from premises in Bolton, signed up members of the public, who were experiencing severe financial difficulties, to a debt management plan under which it attempted to negotiate a settlement with their creditors in return for a fee..."

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Rents continue to rise as supply shrinks

2010-03-29T02:47:00.000-07:00

The results from the latest FindaProperty.com Rental Index reveal:

"Asking rents increased by 0.7% in March to £820pcm from £814pcm in February. Average rental values are now just 0.8% (£7pcm) lower than a year ago (£827pcm)..."

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Average new home prices decline by -1.6%

2010-03-29T02:44:00.000-07:00

The latest SmartNewHomes.com New Homes index reveals:

"The average price of a new home declined by -1.6% in February 2010, a second consecutive monthly fall..."

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Post Office offer new 90% LTV mortgage product aimed at FTB's

2010-03-29T02:39:00.000-07:00

Business Secretary Lord Mandelson today announced a major expansion of the financial services offered by the Post Office:

"The Post Office will offer a new mortgage product with a 90% loan-to-value ratio aimed at first-time buyers. The Post Office will also increase its lending substantially, aiming to double the value of its mortgage book in the financial year 2010/11..."

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Northern Rock cuts mortgage rates to help first-time buyers

2010-03-26T04:36:00.000-07:00

Northern Rock today announces rate reductions that make it easier for first-time buyers to get on the property ladder:

"Everyday range 2 Year Fixed rates for borrowers with a 15% deposit start from 5.49% (previously 6.69%) with a product fee, or 5.99% (previously 7.19%) without a product fee..."

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Pension trustees in connection with £52m fraud

2010-03-26T02:13:00.000-07:00

The Serious Fraud Office announced:

"Two former GP Noble trustees have today been charged with fraud and abuse of position in connection with the alleged theft of £52 million of pension assets from nine occupational pension schemes..."

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Credit and Debit card spending up 7.1%

2010-03-25T05:41:00.000-07:00

Data from Barclaycard Global Payment Acceptance shows:

"Payments made on credit and debit cards were up 7.1% in February compared to the same month last year..."

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Abbey to reduce fixed rate mortgage product

2010-03-25T05:38:00.000-07:00

Abbey for Intermediaries announced they have:

"Reduced the rate on their 85% LTV, 3 year Fixed rate Homebuyer product by 0.10% to 5.69% with a £995 fee..."

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100,000 new homes target would cut Government borrowing by £23bn

2010-03-24T03:57:00.000-07:00

Savills housing investment consultancy division published a paper today that reveals:

"An additional 100,000 new homes built each year would give government finances a £23bn boost over the life of the next parliament..."

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Landlords improving success rate in tenancy deposit disputes

2010-03-24T03:54:00.000-07:00

Mydeposits.co.uk announced:

"While 99.4% of private tenants rent deposits are returned without problems at the end of the lease period, there has been a marked shift in the outcome of disputes in the remaining cases, with landlords being more successful with claims than a year ago..."

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Four jailed in £6million mortgage scam

2010-03-24T03:51:00.000-07:00

Metropolitan police announce:

"Four people have been sentenced to over 15 years in prison for their involvement in a £6million false mortgage scam yesterday, Tuesday 23 March..."

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House prices rose by 0.3%

2010-03-23T05:07:00.000-07:00

According to the latest monthly housing survey published today by Hometrack, the housing intelligence business:

"House prices rose by 0.3% in March. The year on year rate of growth now stands at 1.3%. However these headline figures mask growing evidence of change..."

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L&G profits up 87%

2010-03-23T05:03:00.000-07:00

Legal & General announced today:

“IFRS operating profit of £1.1 billion is considerably higher this year and the balance sheet has been further strengthened with an IGD surplus of £3.1 billion after accruing for an increased final dividend of 2.73 pence per share..."

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Coventry announces merger with Stroud & Swindon Building Society

2010-03-23T05:01:00.000-07:00

Coventry Building Society announced today:

"Coventry Building Society, the UK's 3rd largest building society, has announced today that it has agreed merger terms with Stroud & Swindon Building Society, the UK's 11th largest building society..."

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Six arrested in FSA and SOCA insider dealing investigation

2010-03-23T04:51:00.000-07:00

The Financial Services Authority today announced:

"In the first operation carried out jointly between the Financial Services Authority and the Serious Organised Crime Agency, 16 addresses have been searched this morning in London, in the FSA's largest ever operation against insider dealing..."

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Household finances worsen

2010-03-19T03:33:00.000-07:00

The latest Household Finance Index (HFI): United Kingdom reveals:

"Around 27% of survey respondents reported that their household finances worsened in March, compared to just 7% that signalled an improvement..."

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Godiva launches new Buy to Let range

2010-03-19T03:30:00.000-07:00

Godiva Mortgages is today launching:

"New range of Buy to Let products including a 3 year fixed rate at 5.35%. This is the only BTL fixed deal without early repayment charges currently available on the market..."

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Bradford & Bingley announces £196m loss

2010-03-19T03:25:00.000-07:00

Bradford & Bingley announced today:

"Group loss before tax for 2009 was £196.0m. This is £71.0m lower than the figure of £267.0m forecast in the Business Plan and £82.0m lower than the comparable loss of £278.0m in 2008..."

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UK public sector debt above 60%

2010-03-18T04:28:00.000-07:00

The Office for National Statistics announced today:

"Net debt was £857.5 billion, equivalent to 60.3 per cent of gross domestic product, The public sector current budget was in deficit by £6.0 billion..."

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CML: Gross mortgage lending increased £9bn

2010-03-18T04:22:00.000-07:00

Data published today by the Council of Mortgage Lenders shows:

"Gross mortgage lending in February increased to an estimated £9.2 billion, a 6% rise from £8.7 billion in January..."

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Only 8% of Britons regularly consult an IFA

2010-03-17T04:38:00.000-07:00

Research from SHIP (Safe Home Income Plans) reveals that:

"Only 8% of Britons regularly seek financial advice from an IFA when it comes to planning their retirement finances..."

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Legal & General launches exclusive 2 year fixed rates with Accord mortgages

2010-03-17T04:21:00.000-07:00

Legal & General Mortgage Club has launched two exclusive fixed rate mortgage products, provided by Accord Mortgages:

"Both mortgages are available to a maximum loan size of £750,000 and come with arrangement fees totalling £995..."

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42% of mortgage enquiries are from first-time buyers

2010-03-17T04:18:00.000-07:00

Latest figures from unbiased.co.uk reveal:

"42% of enquiries for whole of market mortgage advice in February 2010 were from first time buyers looking to get their foot on the property ladder..."

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NAEA: February house sales up

2010-03-16T04:53:00.000-07:00

The National Association Estate Agents report that:

"Despite poor weather conditions throughout February, estate agents over the course of the month managed to increase the number of sales they agreed..."

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RICS: Demand for property continues to rise

2010-03-16T04:36:00.000-07:00

The RICS residential lettings survey for November 09 - January 2010 reveals:

"In the three months to January, tenant demand for residential property continued to rise at a similar pace to that recorded in the three months to October..."

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Banks only partly to blame, claims RBS chief

2010-03-16T04:29:00.000-07:00

Stephen Hester group chief executive of the Royal Bank of Scotland told the Future of Banking Commission:

"We need to develop this in the context of a systematic crisis, when all banks could go bust, as they exist only on confidence. The question is how to let a bank go bust while allowing its functions to continue..."

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UK house prices up 6.2%

2010-03-16T04:25:00.000-07:00

The latest House Price Index for January 2010 reveals:

"UK house prices were 6.2 per cent higher than in January 2009 and 2.2 per cent higher than in December 2009..."

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Norwich & Peterborough report £1.3m profit

2010-03-15T04:30:00.000-07:00

Matthew Bullock, chief executive of N&P, said:

"Our business is largely removed from the wholesale debt markets and the riskier elements of lending. But so profound was the crisis that we were impacted in several ways..."

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