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‘Big thinking’ required to fix housing market – IMLA


By Michael Griffiths

The Intermediary Mortgage Lenders Association (IMLA) has encouraged the Government to apply a ‘big thinking’ approach to housing in the upcoming Budget announcement in order to start fixing the ‘broken’ UK housing market.

The association set out a list of key priorities for which it wants Downing Street to focus its spending – starting with a more ambitious commitment to housebuilding


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New organisation launched to promote UK mortgage industry

A new organisation, the Mortgage Market Alliance (MMA), has been launched to promote the UK mortgage industry, raise awareness among consumers about the range of options available, and highlight the importance of advice

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One-third of early retirees want back into work

One-third of the adults in the UK to have been forced into an early retirement have indicated they would like to be back in work, according to a new study by Just Group

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F4B adds Castle Trust to lending panel

First 4 Bridging (F4B) has announced the addition of investment and mortgage specialist, Castle Trust, to its lending panel

Almost one in three adults in their 60s yet to touch pension

Almost one in three people in their 60s have left their pension pots untouched, according to new research published by LV=

2019 remortgages rise 4.2% from previous year

The number of remortgages reached 635,277 in 2019, reflecting a rise of 4.2% from the previous year, new data published by LMS has revealed
Just Mortgages appoints first female financial services director

Just Mortgages has announced the appointment of the group’s first female financial services director, Kerry-Ann Davies

Banks approve almost 1 million mortgages in 2019

Almost one million mortgages were approved by the UK’s high street banks during 2019, according to a report published by LearnBonds.com

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New Chancellor pushed to act on NAO tax relief concerns

The Chartered Institute of Taxation (CIOT) is urging new Chancellor Rishi Sunak to do more to monitor and evaluate £155bn a year of the UK’s tax reliefs

Warning issued around worsening penalties for tax return filing failures

Taxpayers who fail to file their tax returns by the end of the month will be subject to a fixed penalty, and it could worsen depending on how long people wait to file and pay what they owe, leading accounting and tax advisory firm Blick Rothenberg has said

Royal London urges taxpayers to double-check income tax

Approximately 460,000 people in the UK chased HMRC for refunds on overpaid income tax in the year 2018/19, according to an FOI by Royal London. The mutual insurer has urged taxpayers to double-check whether they may have overpaid tax

Labour and Lib Dems changes would see investor's tax rates double

Pledges made in both the Labour and Liberal Democrats manifestos would cost investors through the hiking on tax rates to bring them in line with income tax, AJ Bell said

7.4 million UK adults are over-indebted, FCA report finds

There are 7.4 million adults in the UK who are over-indebted and find their financial commitment a burden, according to a new FCA report

FCA imposes £2.77m fine on car finance provider

The FCA has handed a £2.77m fine to car finance provider, Moneybarn, for not treating its customers fairly when they fell behind with loan repayments while in financial difficulties

PFS uncovers evidence of hiked PI premiums

The Personal Finance Society (PFS) has uncovered new evidence of hiked professional indemnity (PI) insurance premiums and restricted cover

CAT to hear two FX cartel claims this week

The Competition Appeal Tribunal (CAT) will hold a hearing on Thursday 13 February to consider the future case management of two competing collective actions involving six major banks

BoE issues new polymer £20 note

The Bank of England (BoE) announced that its new polymer £20 note featuring artist, JMW Turner, has entered circulation for the first time

Financial wellbeing expectations up in February

The IHS Markit UK Household Finance Index, which measures households’ overall perceptions of financial wellbeing, increased to 47.6 in February, a notable rise from January's 44.6 and the highest index reading since the survey began 11 years ago

Current account holders unaware of overdraft changes

Sixty-six per cent of current account holders are unaware of the new FCA changes to overdraft rates, new research from comparethemarket.com has revealed

Brexit forces N26 to close UK bank accounts

Challenger bank, N26, has announced it will be closing accounts for its UK customers on 15 April 2020, citing difficulties from the UK’s departure from the European Union

One-third of early retirees want back into work

One-third of the adults in the UK to have been forced into an early retirement have indicated they would like to be back in work, according to a new study by Just Group

Almost one in three adults in their 60s yet to touch pension

Almost one in three people in their 60s have left their pension pots untouched, according to new research published by LV=

Higher rate pensions tax relief removal could end private sector DB pensions - Aegon

Plans to remove higher rate tax relief from pension contributions could kill off remaining defined benefit schemes in the private sector and raise major issues for those in the public sector, Aegon pensions director Steven Cameron has said

Aegon urges savers to increase pension contributions

Auto-enrolment has helped more than 10 million employees save in a workplace pension, although an 8% contribution is unlikely to provide the level of income in retirement that most people aspire to, according to new analysis by Aegon

LSL confirms Countrywide merger discussions

LSL Property Services has confirmed it is in talks with Countrywide over a potential merger

Conveyancing industry slumps in final quarter of 2019

Transactions during the conveyancing industry’s fourth quarter dropped to 226,444, the lowest recorded level of 2019, new data published by Search Acumen revealed

HMRC reveals January rise in property transactions

There were an estimated 102,810 residential transactions and 11,170 non-residential in the UK property market during January, according to new data published by HMRC

‘Astonishing’ – the total sum of the UK’s rental deposits

Over £5.2bn was held in rental deposits last year across the UK’s letting sector, with 4.6 million tenancies meaning the average tenant paid out £1,139 to secure a rental property, new research by the rental deposit scheme, Ome, has revealed

Eligible announces new advisory board

Fintech start up, Eligible, announced it has assembled a new advisory board comprised of mortgage industry leaders

VAS Group launches next generation of cloud-based portal

VAS Group has launched the next generation of its VAS Panel service dashboard, a cloud-based interactive portal for lenders, specialist distributors and brokers

HTB ‘focused on becoming data driven’

Hampshire Trust Bank (HTB) announced that it has combined Snowflake, SnapLogic, Matillion and Tableau technologies to ‘revolutionise’ the way the bank uses data to inform investment decisions

Dock9 launches mortgage digital experience audit service

Digital business solutions agency, Dock9, has launched a website and portal audit service aimed specifically at the mortgage sector

Principality launches savings account for first-time buyers

Principality Building Society has announced the launch of a new savings account to help young people into their first home

Nationwide Building Society launches new savings account

Nationwide Building Society has launched a new ‘prize draw’ savings account aimed at getting young people and families to put small amounts of money aside each month

more2life launches ‘fastpath portal’ service promise

more2life has announced the launch of its ‘fastpath portal’ service promise, which can guarantee the lender will compensate customers £500 if it takes more than 14 working days to issue a loan offer from the date of application

Hodge extends early repayment feature across mortgage products

Hodge has announced the extension of its early repayment promise (ERP) feature across all residential mortgage products

BLOG: The Importance Of Meeting Customer Needs In A Growing Market

Pure Retirement CEO Paul Carter talks about the importance of meeting customer needs in a growing market

BLOG: Is it Time the Insurance Industry Re-Thought its Approach to Older Travellers?

Since 2012, when the Equality Act came into force, it has been against the law in the UK for businesses to discriminate against people in the provision of goods and services on the basis of age. Which is as much to say, in most circumstances, companies cannot refuse to provide a certain service to someone because they are elderly, or charge them more because of their advanced years.

BLOG: It’s all about Lifestyle. What’s the point in having money if it doesn’t make you happy?

An innovative approach to financial planning. In our view, clients don’t really want financial products or investments. They never have and never will. What clients really want is the peace of mind and security of knowing where they are heading financially.

BLOG: Now it’s personal – how tailored solutions are creating more lifetime mortgage clients

Electric cars were on sale a decade ago but who was interested? Few were prepared to overlook high buying costs and poor range for the pleasure of driving a choice of two mainstream models – the modest Mitsubishi i-MiEV hatchback or the tiny Smart Fortwo electric drive

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