FTB mortgages at the highest in more than a decade

FTB mortgages at the highest in more than a decade

First-time buyer mortgage approvals have hit their highest level in more than a decade according to figures published by Yorkshire Building Society. Using data from UK Finance, the Yorkshire estimates 367,038 new mortgages were taken out in 2018 – the highest number since 2006. Almost double The number exceeded the 2007 figure of 359,000 and …

FCA probes SIPPs

FCA probes SIPPs

The Financial Conduct Authority (FCA) has started a probe into the advice given to savers with self-invested personal pensions (SIPPs) following high profile court cases against providers Berkeley Burke and Carey Pensions. In a letter the regulator has asked them for information about their business activities and their expectation of the way the providers handle …

Lenders offering ‘irresponsible’ super-size mortgages

Lenders offering ‘irresponsible’ super-size mortgages

As Britain’s house prices continue to soar it has emerged that some lenders are offering mortgages for up to six times buyers’ salaries – a level branded ‘irresponsible’ and ‘alarming’ just before the housing crash of 2008. Top financial journalist Louise Eccles said: “First-time buyers are saddling themselves with record levels of debt as banks …