OFT consults on second charge lending
The Office of Fair Trading (OFT) launched a consultation today on draft guidance for businesses engaged in second charge lending. The draft guidance sets out the standard of behaviour the…
Tag: lenders
-
-
Steep decline of mortgages continues
The number of mortgage deals continues to shrink as lenders ration their home loans in favour of those with a large deposit. The number of deals is down 65 per…
-
PM calls for end to 100% mortgages
Speaking to the Observer, Gordon Brown said the Financial Services Authority (FSA) would consider controls on mortgage of more than 100 per cent of a home’s value, and on high…
-
Bank of England in crisis talks with building societies
The Bank of England is in talks with seven building societies hoping to renegotiate emergency funds made available during the credit crunch. While the building societies – including Chelsea, Yorkshire…
-
One in four unable to get mortgage…
Research from the National Association of Estate Agents has revealed that nearly one in four people claim they are unable to get a mortgage due to the tighter lending criteria…
-
Lenders should be named and shamed
Which? magazine has called for the Financial Services Authority to ‘name and shame’ lenders charging customers with exorbitant mortgage arrears charges. Which? wants the list submitted to judges hearing repossession…
-
Bank nationalisation ‘not needed’
Business secretary Peter Mandelson has reiterated that the government has no plans to nationalise the banking sector. Speaking yesterday he said that nationalisation was neither ‘necessary nor desirable’ although he…
-
The FSA lays down the law
The Financial Services Authority (FSA) has written to the chief executives of all mortgage lenders giving them until 31 January to treat customers in arrears fairly or face action. It…
-
Lenders accused of taking payments by stealth
Banks have been accused of leaving mortgage holders unable to pay their mortgages, as they take money out customers’ current accounts to cover credit card and loan payments. Citizens Advice…
-
Mentally ill âexploitedâ by lenders
Mental health charities warn that banks provide little support for customers with mental health issues, and in some cases exacerbate their conditions by treating debtors insensitively and selling them unsuitable…