Legal & General Mortgage Club has unveiled measures to support its members in light of the COVID-19 outbreak. Procuration fees will be paid on exchange and ahead of completion while the Mortgage Support Services (MSS) team will remain on hand to help advisers with any queries they have on client cases over the phone or […]
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Barratt Homes has launched the Chapel Fields development in Swansea. The development – which will feature a total of 78 homes once complete – is now open. Richard Lawson, sales director of Barratt Homes, said: “I’m delighted by the success we are already seeing here at Chapel Fields. “This is a very popular area in […]
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Niche Advice director Payam Azadi is concerned that the economic shock caused by coronavirus could force some lenders out of the market. Azadi is concerned that non-bank lenders and specialist players could struggle with their funding lines in the weeks and months ahead. The London broker said: “A lot of the lenders that rely on […]
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Mortgage lenders have agreed to offer customers three-month payment holidays if they suffer from financial issues due to Covid-19, Chancellor Rishi Sunak has announced. A number of high street lenders had already pledged to help customers in need. Rishi Sunak, The Chancellor of the Exchequer, said: “We will do whatever it takes to protect our […]
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Direct Line for Business has launched an additional coverage option to its landlord Insurance policy for those who own a residential property on a leasehold basis, such as in a purpose-built block of flats. Leasehold landlords who are not responsible for buildings insurance can now insure their permanent fixtures and fittings the freeholder’s building policy […]
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Buy-to-let broker Property Master has called on lenders to ensure the understanding approach they are taking to personal customers is extended to landlords. Landlords are already reporting cases of tenants facing difficulties in paying their rent as work dries up or they self-isolate. Angus Stewart, chief executive of Property Master, said: “We are already hearing […]
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Saffron Building Society has pulled its buy-to-let product range, instead switching its focus to first-time buyers. Meanwhile Vida Homeloans has hiked its 2 and 5-year fixed rate buy-to-let products across its ‘Vida 1 and Vida 2’ ranges by 0.50% – in a step likely designed to reduce the amount of business it will receive. The […]
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A number of mortgage businesses have started to adopt a work from home approach owing to the COVID-19 epidemic. Specialist buy-to-let broker Keystone Property Finance will be changing to remote working for all staff. Face-to-face meetings have also been halted between external business development managers and brokers, with meetings being offered via video call, as […]
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The US Federal Reserve has cut its national interest rate to between 0% and 0.25%, a 1% rate cut. Meanwhile the Bank of Canada has cut its interest rate by 0.50% to 0.75% – and there is speculation it could be cut the rate a third time. The current Bank of England base rate is […]
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The government has published guidance for hostels or day centres providing services for rough sleepers. The government said regularly touched objects and surfaces need to be cleaned, members of staff should be sent home if they are unwell, while if a resident of a hostel becomes unwell they should stay in their room. The guidance […]
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