The body that puts forward the consumer’s point of view in the regulation of financial services has outlined six points to be taken into account by the Financial Services Authority in its Mortgage Market Review (MMR). The Review is aimed at correcting some of the mortgage lending practices that contributed to the financial crisis, and [...]
UK mortgage market
Mortgage arrears capitalised at “increasingly rapid rate”
A new report from the Financial Services Authority (FSA) highlights some of the current and emerging risks in the UK mortgage market.
The regulator has published its first Retail Conduct Risk Outlook (RCRO), which seeks to identify potential risks for customers across a range of financial services sectors.
On mortgages, the RCRO notes that in terms of [...]
Gross mortgage lending down 13%
Gross mortgage lending fell to around £9.2 billion in January, down 13% on December but up 5% on a year earlier.
New figures from the Council of Mortgage Lenders (CML) show the first year-on-year increase since August 2010, although CML economist, Peter Charles, points out that the Bank of England’s latest Inflation Report warns that UK [...]
State Bank of India to enter UK mortgage market
State Bank of India (SBI) is poised to enter the UK mortgage market, This is Money has reported.
According to the website, India’s largest bank is set to become an active player in the market during the first half of next year, having already established itself as a savings provider in the UK.
New entrants to the [...]
