Mortgages

Non-refundable up-front fees are creeping into the mortgage market, and potential borrowers should exercise caution, warns John Charcol.

BuildLoan, a lender that specialises in self-build and renovation mortgages, has launched a new intermediary exclusive with Skipton Building Society.

Over 55s have seen their outstanding mortgage debt grow by 20% over the past year, according to Key Retirement Solutions (KRS).

The Council of Mortgage Lenders (CML) is introducing new processes for conveyancing and valuing newly-built properties.

The FSA has fined a Chepstow mortgage broker £10,500 for failures in the sales process he used for self-certification mortgages.

Chartered surveyors have reported a collapse in housing transactions, with the average number of sales per surveyor falling from 18.5 to 17.4 over the past three months.

The Mortgage Partnership has rebranded as Modus Mortgage Network it was announced today.

BDS Mortgage Group has launched its Direct Club offering to brokers, which includes a 24-hour payment facility for procuration fees.

Increasing numbers of mortgage brokers are considering doing business in the commercial mortgage arena, according to the ifs School of Finance.

The FSA has banned a Belfast-based mortgage broker, trading as Fast Track Mortgage and Finance Consultants, for his involvement in fraudulent mortgage applications.