RBS reduces two of its fixed purchased rates

From today, RBS Intermediary Partners will be reducing the initial rates on two of its RBS fixed rate purchase mortgages.
The two-year fixed rate, with a maximum LTV of 75%, will reduce to 5.99% from 6.19% with a £999 arrangement fee until 30 June 2010 (APR 7.4%).
The two-year fixed rate with a maximum LTV of 90% [...]

Brokers report improvement in Trustguard’s service

The latest intermediary satisfaction survey from Trustguard Credit Services has indicated that its service levels have improved over the past 12 months.
A cross-section of 150 of Trustguard’s regularly supporting brokers were surveyed, and of these, 82% rated the company’s service as being ‘good’ or ‘excellent’.
This is exactly the same result that was produced when Trustguard [...]

AMI and AFB publish Expo seminar programme

Trade bodies the Association of Mortgage Intermediaries (AMI) and the Association of Finance Brokers (AFB) have published details of the topics to be covered in their seminar programme at Mortgage Business Expo Manchester on 14 and 15 May.
The Seminar Theatre programme will cover the following topics:

Panel debate on the future of the intermediary market
Regulation and [...]

Financial Services Consumer Panel say ad standards are not improving

The FSA has come under fire over advertising in financial services after a study suggested standards have not improved in the last two years. The Financial Services Consumer Panel (FSCP) says more than four in every ten investment and mortgage advertisements (42%) flout the regulator’s rules.
However, it says virtually the same number (43%) were also [...]

Mortgage advice requests up 50% in the first quarter of 2008

Requests for mortgage advice increased by 50% in the first quarter of 2008 as consumers seek to protect themselves against the falling housing market, according to unbiased.co.uk. Figures from unbiased.co.uk’s find an IFA search also found growing numbers of people seeking investment advice as markets become more volatile.
Overall, the number of people using the find [...]

£10m package launched for struggling home owners

Home owners at risk of repossession will now have access to a £10m package of support services, under government plans unveiled today.
This morning chancellor Alistair Darling and housing minister Caroline Flint launched the package.
It includes an extra £9m funding for face-to-face debt advice provided by third sector partners including Citizens Advice Bureau.
The support includes expanded [...]

Government delays full HIP implementation

The Government has extended the deadline for the final stage of HIPs implementation until the end of the year. At present, home sellers only need to have ordered and paid for a HIP to sell their property, without actually needing to have the physical documents.
However, the Government had hoped to make it compulsory to be [...]

US treasury claim economy will thrive as ‘worst is over’

US Treasury Secretary Henry M. Paulson has tipped the American economy will “move on to new heights” following this current period of uncertainty. Speaking in Kansas City overnight, Secretary Paulson says he expects President Bush’s $100bn household stimulus package, currently in the distribution process, will aid the ailing economy immediately.
Paulson says the payments, in addition [...]

Repossessions up 17% in the first quarter of 2008

Mortgage repossessions surged 17% in Q1 2008 compared to Q1 2007, figures from the Ministry of Justice reveal.
The statistics show that 27,530 repossession orders were made in Q1, showing a 9% rise from Q4 last year.
There was a similar increase in repossession claims which spiked 16% to 38,688 in Q1, compared to the same period [...]

Alliance & Leicester offers lower rates for under 75% LTV

Alliance & Leicester is launching a new range of mortgage products, which will be available via brokers, branches and its call centre from today (9 May).
The bank continues to offer a full prime residential portfolio to a maximum of 90% LTV, and has introduced lower rates for mortgages with a maximum LTV of 75%.
The range [...]