Gross mortgage lending totaled an estimated £18.7 billion in October, almost 7% higher than what was an admittedly weak £17.5 billion lent in September according to new figures from the Council of Mortgage Lenders.
The Financial Services Authority (FSA) has banned and publicly censured Tyne & Wear mortgage brokers Edward Allen and Ronald Allen for failings which exposed the customers of their firm to the risk of receiving an unsuitable mortgage.
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The Financial Services Authority (FSA) has fined Doncaster mortgage broker Orchid Financial Limited £34,500 for failing to ensure it provided suitable advice which exposed over 900 customers to the risk of being sold an unsuitable mortgage.
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The Financial Services Authority (FSA) has banned North Wales mortgage broker Stephen Jones and fined him £100,000 after finding he had exposed about 1500 customers to the risk of receiving unsuitable advice.
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The Financial Services Authority (FSA) has fined Derbyshire mortgage broker Approved Financial Solutions Ltd (AFS) £63,000 after finding the firm failed to ensure it gave suitable advice, and did not communicate accurate information about mortgage charges to its customers.
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The Financial Services Authority (FSA) has banned Doncaster mortgage broker Ian James for applying for a personal loan supported by a falsified payslip and for making a false claim to the bank overstating his income. His wife, Nicola James, has also been banned.
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The Financial Services Authority (FSA) has banned a mortgage broker and fined him £100,000 for submitting false mortgage applications.
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The Council of Mortgage Lenders has welcomed the FSA’s confirmation that mainstream lenders are largely complying with its arrears and repossessions requirements.
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The Financial Services Authority (FSA) has reiterated its call for mortgage lenders to ensure they are treating customers fairly in the current market conditions as its latest review finds weaknesses in the way some lenders are handling arrears and repossessions - particularly for consumers with impaired credit histories.
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The Government may have to use taxpayer’s money to guarantee billions of pounds of mortgage debt if the housing market is to recover from the credit crunch, a new report has said.
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The Financial Services Authority (FSA) has banned two Wakefield mortgage brokers for failing to meet the standards expected of approved persons in terms of competence and capability.
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