mortgages

Network Data has bought fellow network Mortgage Broking Services Limited (MBSL) for £2.215m.

Net mortgage lending by building societies increased to £314m in September, from -£37m in August, but was still 47% lower than during the same month last year.

The Bank of England's move to cut interest rates by 0.5% to 4.5% today is starting to filter down to consumers as several mortgage lenders announce rate cuts.

Paragon shares slumped almost 15% this afternoon after the mortgage company rejected a proposed 125p per share takeover.

The Association of Finance Brokers (AFB) has today published a White Paper on the future regulation of the secured loans industry.

Prestbury's 140 mortgage and protection advisers, who have just been taken over by Personal Touch Financial Services (PTFS), could be offered the chance to become fully fledged IFAs.

Borrowers are favouring short term two-year fixed rate mortgages over longer term deals as competition begins to return to the mortgage market, according to Spicerhaart Financial Services' monthly mortgage survey.

The average first time buyer had a deposit of 15% in July, up from 13% in June, bringing the loan-to-value (LTV) ratio down to the lowest level since the early 1980s, according to the Council of Mortgage Lenders (CML).

The Government's temporary stamp duty relief is not nearly radical enough to revive the ailing housing market, according to critics.

The number of mortgage products available as exclusives to the intermediary market has fallen by over 87% since last year, according to new research from Abbey for Intermediaries (AfI).