changes

UK mortgage industry not keen on seven day switching, survey shows

Plans to shorten the procedure for switching mortgages in the UK to just seven days have little chance of being implemented effectively without delays or compromising regulatory checks, according to lenders and brokers. The Department for Business, Innovation and Skills (BIS) announced in May that it was looking to shorten the time it takes consumers […] The post UK mortgage industry not keen on seven day switching, survey shows appeared first on PropertyWire . Continue reading

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Survey finds home buyers feel pressured to take out insurance with mortgage provider

Home buyers in the UK are paying over the odds on their home insurance by opting for products provided by their mortgage company, according to new research. Around 17% of mortgage holders could be paying £66 more than they need and with around 7.8 million mortgaged households in the UK this equates to overpayments of […] The post Survey finds home buyers feel pressured to take out insurance with mortgage provider appeared first on PropertyWire . Continue reading

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UK financial watchdog reveals mortgage lending glitch

More than 750,000 mortgage borrowers in the UK could be in line for compensation as a result of their bank overcharging them when they fell behind on repayments. Financial watchdog, the Financial Conduct Authority, has revealed that technical glitches in many lenders’ systems had resulted in hundreds of thousands of customers being hit with excessive […] The post UK financial watchdog reveals mortgage lending glitch appeared first on PropertyWire . Continue reading

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