Ten of the biggest fraud and money laundering scandals from the …
WEBJan 13, 2020 · Money laundering and fraud cost UK businesses, citizens and the government more than £100 billion a year, according to the National Crime Agency.The effects can have a devastating impact on ordinary …
L&G Home Finance adds equity release product with higher LTVs
WEBNov 20, 2023 · The regulator points out that around one million outstanding interest-only mortgages; borrowers are typically aged 56 with £140,000 left to pay. The lender says that its new product is able to allow homeowners “to borrow up to 55.3% LTV — substantially higher than LTVs” in its current equity release range. It says that homeowners can use ...
Mortgage lending on shared ownership properties
WEBJan 13, 2021 · Under the current arrangement the purchasers can buy between 25% and 75% of the property with the aid of a mortgage granted by one of the mortgage lenders supporting the scheme. The remaining 75% to 25% will be rented from a housing association at a subsidised rent. In England the applicant’s household income from all sources must be £80,000 ...
Floods bring climate of change for mortgage lending
WEBApr 19, 2021 · Under the Flood Re scheme, a property at significant risk to flood may be able to obtain insurance but might still be at risk to potential devaluation or higher chance of mortgage default from the perspective of a mortgage provider. Similarly, the Flood Re scheme is due to end in 2039, so mortgage providers must consider how insurability may ...
Leasehold issues for lenders: Forfeiture and disclaimer of leases
WEBMar 15, 2018 · The overall growth in leasehold ownership is resulting in lenders increasingly finding themselves having to grapple with issues affecting their leasehold securities – both in connection with shared ownership and conventional long leasehold properties. Risk of forfeiture Where a borrower defaults on monies due under the lease (usually service ...
Mortgage Brain rolls out Affordability Hub
WEBMay 12, 2020 · A new affordability-based sourcing solution is being rolled out by Mortgage Brain following a successful pilot. It is called Affordability Hub and covers the three main elements needed when sourcing the most appropriate mortgage – the availability of products, criteria and affordability. Affordability Hub ensures that intermediaries can use ...
Lloyds sees profit lift 57%, home loans remain flat
WEBFeb 22, 2024 · The lender, which includes Bank of Scotland and Halifax, said its open home loans book edged 0.4% lower to £298.5bn over the last 12 months, while its closed book fell 34% to £7.7bn.
Finova snaps up BEP Systems to boost mortgage platform presence
WEBOct 8, 2021 · By Roger Baird in FINTECH 8th October 2021 0. Mortgage platform Finova has bought rival BEP Systems to expand its presence in the UK. Finova’s cloud-based software is used by over 60 lenders and 3,000 brokers, while BEP, launched in 2014, specialises in mortgages, loans and deposits for financial service firms on its platform.
New life tables show smoker or non smoker mortality
WEBJul 27, 2005 · The equivalent life expectancy for a female non-smoker is almost 86. However, if the man smokes, he can expect to live 5.5 years less, to an age of 76.8. The equivalent figure for the female smoker is a greater reduction of 6.8 years, to an age of just over 79. Today’s 60 year old male non-smoker can expect to live, on average, until he is ...
Equiniti acquires Marketing Source and Gateway2Finance
WEBJan 19, 2017 · Guy Wakeley, chief executive, said: “We are delighted to announce the acquisitions of Marketing Source and Gateway2finance. Both businesses are strongly aligned with the group strategy of providing regulatory-driven, technology-enabled services, primarily to the financial services sector, and will contribute to …