mortgage lending

New Mortgage Lending Hits £530million

The Co-Operative Bank has revealed that new mortgage lending has reached £530 million during the third quarter of 2020.  The bank also announced that net residential lending had hit £242 million whilst net SME lending was at £225 million and Bounce Back loans and the Coronavirus Business Interruption Loan Scheme (CBILS) were reported to have…

lenders

Lenders warned as repossessions restart

Lenders across the UK have been warned to ‘go easy’ on homeowners as repossessions restart following a period of halt.  Lenders have been warned by the Financial Conduct Authority (FCA) that they must treat the 1.8 million homeowners who have taken out a mortgage holiday over the past few months fairly.  Director of Consumer and…

car finance

FCA Set to Ban Motor Finance Commission

The UK’s Financial Conduct Authority (FCA) has confirmed it is set to ban motor finance commission models that offer incentives to dealers and brokers to set higher interest rates. The ban will refer to commission models in the motor finance market where the amount of commission the broker receives is linked to the interest rate…