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Property and Mortgages

Halifax chops 0.45% off mortgage rates

16:15 | 25 Jul 2008 | By Iain Martin

HBOS will cut the cost of some of its mortgages by up to 0.45% from Saturday. 

FSA to consider regulation of individual mortgage brokers

15:43 | 24 Jul 2008 | By Iain Martin

The Financial Services Authority says it will begin a review later this year on whether it needs to regulate every single mortgage broker instead of firms as a whole and their directors.

Sandler steps back at the Rock for Barclays man

15:29 | 23 Jul 2008 | By Iain Martin

Northern Rock has appointed Barclays vice chairman Gary Hoffman as its new chief executive enabling Ron Sandler to take a non-executive role.

BBA reports £1.4 billion drop in June lending

10:43 | 23 Jul 2008 | By Iain Martin

The mortgage market in June was running at lower levels than in the middle of the early 1990s housing crash as lending continued to fall at high street banks and building societies, the British Bankers’ Association said. 

Equity release volumes jump in Q2, says Ship

09:30 | 23 Jul 2008 | By Iain Martin

Business volumes have shot up 14% at equity release providers in the second quarter of 2008, according to Safe Home Income Plans.

Great Portland reveals 4% slump in portfolio value

10:05 | 22 Jul 2008 | By David Campbell

Central London property specialist Great Portland Estates saw the value of its portfolio fall 4% on a like-for-like basis over the second quarter or £63.9 million, to £1.5 billion.

The Mortgage Works steps into large loan arena

12:16 | 21 Jul 2008 | By Iain Martin

The Mortgage Works has opened up its pilot programme to lend up to £5 million for high-net-worth clients. 

Sovereign Reversions surges despite £5.4m loss

11:03 | 21 Jul 2008 | By Iain Martin

Shares in equity release provider Sovereign Reversions rose by 5.8% despite posting a pre-tax loss in its final results. 

Rightmove: Asking prices fall 1.8%

00:01 | 21 Jul 2008 | By Iain Martin

Homeowners desperate to sell were forced to drop £5,000 from asking prices in the past four weeks as the property market downturn gathered pace, property website Rightmove reported.

Auction sales slump 20% in June

15:53 | 18 Jul 2008 | By Iain Martin

Hammers lay silent, bidding paddles hung low and auctioneers’ patter stalled in June as the number of lots unsold at auction jumped by 20% from last year. 

HBOS cuts fixed-rates by 0.15%

13:44 | 18 Jul 2008 | By Iain Martin

Halifax Bank of Scotland has cut interest rates on its mortgages by up to 0.20% following the Nationwide Building Society’s lead. 

FSA: We will tackle big mortgage firms

11:20 | 18 Jul 2008 | By Iain Martin

The Financial Services Authority denied it was only attacking easy targets in its mortgage crackdown. 

Brokers to benefit from equity release academy

17:04 | 16 Jul 2008 | By Iain Martin

Equity Release Club training academy will help brokers get to grips with alternative mortgage arrangements and make sure their advice is competent.

Nationwide cuts fixed rates by 0.40%

12:01 | 16 Jul 2008 | By Iain Martin

The Nationwide Building Society will cut the cost of its fixed and tracker-rate mortgages by up to 0.46% from Friday. 

Lenders unveil new mortgage funding plan and urge government to act without delay

07:00 | 16 Jul 2008 | By Tony Bonsignore

The current special liquidity scheme has failed to translate into better deals for borrowers, says Council of Mortgage Lenders.

Kilmarnock mortgage firm fined £11,900 as adviser banned

11:12 | 15 Jul 2008 | By Richard Harris

Mortgage adviser Ian Sanderson has been banned from the industry after deliberately entering false information on mortgage applications, the Financial Services Authority said.

Property enters 'double dip' as pricing plummets

10:17 | 15 Jul 2008 | By David Campbell

After six months of recovery commercial property prices tumbled again in June, confirming warnings of a secondary crash.

Property sale slump rolls on, Rics reports

09:25 | 15 Jul 2008 | By Iain Martin

House sales have slumped by 38% since last year with surveyors selling just five houses on average over the last month, according to the Royal Institution of Chartered Surveyors. 

CB Richard Ellis hires trio for property multi-manager team

14:41 | 14 Jul 2008 | By David Campbell

International property investor, consultant and broker CB Richard Ellis has strengthened its global multi-manager fund business with three senior appointments.

Alliance & Leicester take-out will reduce competition in mortgage market

13:43 | 14 Jul 2008 | By Gavin Lumsden

Alliance & Leicester's takeover by Banco Santander will reduce competition in the mortgage market and could further reduce flexibility for borrowers, a leading broker has warned.

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