Mortgages

HSBC overtook the Government-backed banks to become the most competitive mortgage lender during Q3 2009, according to analysis from Evaluate Technologies.

Mortgage brokers have been warned put TCF first, even when business conditions are tough.

The FSA has banned East London based mortgage broker, Ayodele Olubunmi Thomas, for knowingly submitting false and misleading information about his income to obtain mortgages and loan advances.

Remortgaging has declined by 57% since August 2008 due to restrictive lending criteria and the extremely low interest rate environment, according to the latest data from the Council of Mortgage Lenders (CML).

Shareholders in nationalised bank Bradford & Bingley (B&B) will have to wait until the end of June 2010 to be told the amount of compensation they will receive.

Coventry Building Society has reduced rates and increased LTVs on its range of residential and buy-to-let fixed rate mortgages.

The summer lull in the mortgage market can be attributed to seasonal decline and was not evidence of another prolonged downturn, the National Association of Estate Agents (NAEA) says.

The average number of intermediary mortgage products rose 4% to more than 2,000 last month while activity levels are also on the up, a study suggests.

The FSA and Mortgage Payment Protection Insurance (MPPI) firms have agreed to refund approximately £60m to customers by the end of 2010.

By Mortgage Solutions