FCA to headline at Financial Services Expo

Financial Conduct Authority representatives will be speaking on both days of next month’s Financial Services Expo, the new exhibition for the financial services industry. The FCA will be represented at two sessions of the Association of Mortgage Intermediaries and the Intermediary Mortgage Lenders Association conference programme taking place on the 1 and 2 October at

Bridging Market Trend Report – August 2013 Averages

The table below represents applications and decisions in principle (DIPs) obtained during August 2013 by a selection of the industry’s most active loan distributors, providing an overview of finance availability and options based on the calculated monthly trends. Average LTV Average rate Average loan size Residential 59.24% 1.00% £347,367.33 Commercial 56.83% 1.29% £268,958.33 Development 53.55%

The Association of Mortgage Intermediaries welcomes consumer credit licence rebate

The Association of Mortgage Intermediaries (AMI) has welcomed the FCA’s decision to offer a rebate to consumer credit licence holders. Changes to the regulatory structure will see control of this area pass to the FCA from the OFT in April 2014. While the OFT had awarded indefinite licences to firms these changes will require advisers

Prime property discounts fall sharply

The chances of finding a bargain on a prime property for sale in the UK has fallen sharply in the last 12 months, new research from PrimeLocation.com has revealed. The proportion of prime properties (those worth over £1m) currently for sale that have been reduced in price since originally coming onto the market now stands

Capital Bridging posts 81% completions growth

Capital Bridging Finance, the City-based bridging lender has posted excellent first half performance figures, including an 81 per cent growth in completions. Commenting on a very satisfying period Keith Aldridge, Managing Director at Capital Bridging, summed up the reasons for their improved performance: “In the fourth quarter of 2012, we secured a funding line from

Voice of the Underwriter – July 2013

We are now half way through the year and I’m pleased to see that, if only for a few days, the weather has started to perk up and look a bit more like summer. The time since I last wrote has passed in a flurry of activity with new cases, new sales incentives and lots

The Bridging Market – How big can it get?

Over the last couple of months I have read in the trade press various figures for the size of the bridging market but I feel most of them are wide of the mark. From the numerous information sources that I have available to me it is clear that the bridging market is well over £1

Range of mortgage products widest in five years

Consumers’ choice of mortgages reached record levels in July 2013 with more products on offer than at any time since the housing market crash, according to the National Mortgage Index from Mortgage Advice Bureau. The number of mortgage products available last month exceeded 10,000 for the first time in almost five years (since September 2008). July’s average

Fincorp becomes first bridger on Avelo Trigold Prospector

Fincorp is the first bridging lender to be listed on the Avelo Trigold Prospector platform after signing a deal that could see bridging start to become much more mainstream. Avelo Trigold said it had signed Fincorp up on an exclusive basis initially after brokers using its Prospector platform had asked for bridging to be included

Most bridging loans take two to four weeks, reveals survey

Recent research, carried out by United Trust Bank, has revealed that according to brokers the majority of bridging loan proposals take between two and four weeks to progress from application to drawdown. 27% of brokers indicated that in their experience the average time elapsed from application to completion was two to three weeks whilst 36%

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