High LTV Mortgages Return to the Market – 17th May 2010
Last week the Post Office launched a 90% loan to value mortgage. Britannia and Coop also have similar products. As of tomorrow Skipton Building Society is reported to be launching a 95% loan to value mortgage. The Skipton website has no information on any mortgage products awaiting the launch of the new mortgage range. […]
SRA New Rules Enable Fines on Solicitors – 17th May 2010
From the 1st June 2010 the LSB has approved the new SRA’s Disciplinary (Procedure) Rules [2010] The SRA will be able to exercise its new statutory powers to give written rebukes and/or impose a penalty of up to £2000 where there has been professional misconduct or a breach of regulatory obligations. The standard of proof […]
LSB Report – Referral Fees Save Money for Consumers – 17th May 2010
The Legal Services Board has produced its long awaited report into the impact of referral fees on the market for legal services with what some may see as surprising conclusions. In a detailed report it concludes that there is no evidence that referral fees increase the price of conveyancing for consumers and do not reduce […]
House Purchase Numbers Substantially Increase in March says CML – 17th May 2010
The CML monthly report for mortgages indicate 45,000 purchase loans in March with 28,000 remortgages. This is a significant month on month increase and year on year increase for house puchases. The home purchase mortgage figures indicated a 25% growth on February 2010 and the remortgage figures up 23% with first time buyer activity being […]
Rightmove Sample Indicates a Rise in Unsold Houses – 17th May 2010
Rightmove House Price Index for May has measured a substantial jump in unsold stock per estate agency branch increasing from 68 to 71 between March and April a three month trend of increasing stock. Given the election and promise in the Con Lib pack to abolish HIPs the future of housing stock and prices […]