Redstone Mortgages has been fined £630,000 by the FSA for its poor handling of customers who were struggling with mortgage arrears. Redstone has agreed to redress such customers who were unfairly or excessively charged for being arrears. Redstone is the 3rd mortgage lender to have been referred for enforcement, following similar warnings issued to Kensington Mortgages and GMAC-RFC Funding.
Kensington Mortgages has launched ino the buy to let mortgage market with products available up to 75% LTV and fixed rates starting at 5.69% for 2 years and 6.19% fixed for 3 years. Kensington is targetting experienced landlords who own at least 2 buy to let properties already and will consider investors with a portfolio of up to 10 properties.
3th May 2010 - Leeds Building Society launches buy to let mortgage range.
Leeds Building Society has launched a 2-year fixed rate buy-to-let mortgage available at 5.29% The product also has a fixed fee and allows 10% capital repayments each year, without penalty, and there is no higher lending charge
19/08/2010 - Kensington Mortgages increase LTV and max loan
12/08/2010 - More4 Loans buys secured loans park site.
15/07/2010 - Redstone Mortgages fined £630,000 by FSA
08/07/2010 - Sheffield mortgage brokers fined by FSA
20/05/2010 - HIP's suspended with immediate effect.
11/05/2010 - Aldermore Bank launches buy to let mortgage range
10/05/2010 - Bank of England base rate held at 0.5%
10/05/2010 - Buy to let mortgages to hit £25b by 2014
10/05/2010 - The Mortgage Works increases LTV's
06/04/2010 - The Mortgage Works improves buy-to-let range
29/03/2010 - Kensington Mortgages to consider CCJ's
26/03/2010 - Dream Money closes its doors.
25/03/2010 - Mathon Finance enters administration
22/03/2010 - Aldermore considers target market.
22/03/2010 - Godiva launches new buy to let mortgages
11/03/2010 - Link Loans launch new secured loan products
09/03/2010 - C & G to launch buy-to-let mortgage deals
08/03/2010 - Kensington mortgages launches new products
08/03/2010 - Aldermore to re-enter mortgage market
03/03/2010 - The Mortgage Works re-enters buy-to-let market
03/03/2010 - Provident Financial to shed 185 jobs
23/02/2010 - John Charcol enters administration
05/02/2010 - Welcome Finance to close more branches
27/01/2010 - Yorkshire Building Society launches 2 mortgage deals.
26/01/2010 - Black Horse Finance to close all branches
16/12/2009 - Bright Finance closes in doors.
11/12/2009 - Cheshire Mort Co suspends all self employed lending
01/12/2009 - House prices rise for 7th month in a row.
01/12/2009 - First Direct launches 2.58% tracker mortgage
19/11/2009 - Gross mortgage lending up 5% in Oct 2009
17/11/2009 - 1808 coalition seek Stamp Duty reform
13/11/2009 - Beacon Homeloans cease new lending
11/11/2009 - Lloyds to axe a furrther 5000 jobs
04/11/2009 - Platform Funding withdraws from self cert mortgages
30/10/2009 - New Lending Code to be launched.
27/10/2009 - Nationwide launches securitisation deal
19/10/2009 - FSA wants a ban on self cert mortgages
15/10/2009 - Cheryl Martin murdered in Rotherham
15/10/2009 - FSA to investigate Mortgage Times
14/10/2009 - Link Lending to close
14/10/2009 - CML says self cert mortgages should not be banned
09/10/2009 - TMW pulls all mortgage self certification
08/10/2009 - Alliance & Leicester cuts rates on remortgage deals
06/10/2009 - Woolwich cuts tracker rate to 2.79%
01/10/2009 - More securitisation deals on the way
25/09/2009 - Abbey launches broker-only mortgage range
16/09/2009 - Woolwich launches 1.98% tracker mortgage.
15/09/2009 - Lenders pledge £38bn for new loans.
10/09/2009 - Base rate held at 0.5% again.
03/09/2009 - Cattles to close 30 branches of Welcome Finance
28/08/2009 - House prices increase by 1.7% in July 2009
26/08/2009 - Self certification mortgages at 2% of market share
20/08/2009 - Mortgage approval rates hit 80%
20/08/2009 - Gross mortgage lending up 26%
03/08/2009 - Needaloan to close.
29/07/2009 - First European Securities begins lending again.
29/07/2009 - Early signs of a recovery ?
29/07/2009 - Abbey claims higher share of mortgage market.
22/07/2009 - Network Data AR's to get nothing.
22/07/2009 - Mortgage lending increases June 2009
15/07/2009 - Black Horse increases secured loan LTV to 80%.
09/07/2009 - Base rate held at 0.5% for 4th successive month.
09/07/2009 - Nationwide to offer 125% LTV mortgages to existing customer.
06/07/2009 - Northern Rock offers remortgage deals for existing clients
26/06/2009 - Loan Options ceases trading.
25/06/2009 - The Mortgage Works pulls all its Buy To Let Mortgages
04/06/2009 - House prices rise by 2.6% in May 2009
04/06/2009 - Base rate held at 0.5%.
13/05/2009 - Link Lending new funding lines.
07/05/2009 - Lenders loosen their crtieria
07/05/2009 - Base rate held at 0.5%
28/04/2009 - Welcome Car Finance to close.
07/04/2009 - Loans etc to close
06/04/2009 - Blemain Finance to boost lending
30/03/2009 - GE Money Home Lending withdraws from secured loans
25/03/2009 - FISA to close in April 2009
24/03/2009 - Doncaster Mortgage Broker censured
16/03/2009 - Central Trust to shed 180 jobs.
06/03/2009 - GE Money to scrap Igroup loans products
04/03/2009 - Magic Loans goes into liquidation
03/03/2009 - 1st Stop Finance goes into administration
27/02/2009 - First European Securities funding
23/02/2009 - Welcome Finance suspends secured loan lending
29/01/2009 - Paragon Finance to limit secured loan lending
12/01/2009 - Y3S Loans future in doubt
12/01/2009 - Loanmakers future uncertain
08/01/2009 - Welcome Finance to lose 1,000 staff.
08/01/2009 - First European Securities announces further funding.
08/01/2009 - Bank of England base rate lowest ever.
08/01/2009 - Bristol & West withdraws from intermediary mortgage market
08/01/2009 - Bank of Ireland withdraws from intermediary market
23/12/2008 - Specialist loan company Welcome Finance restricts lending
01/12/2008 - London Scottish Bank goes into administration
19/11/2008 - White Label Loans withdraws from market
14/11/2008 - Loans.co.uk closes its doors
11/11/2008 - Lowest ever secured loans from 6.75% APR ?
06/11/2008 - Bank of England cut rates 1.5% - Nov 2008
31/10/2008 - House prices still higher than 2003
29/10/2008 - Personal loan rates uncertain
29/10/2008 - Bank of England may reduce rates to zero
14/10/2008 - More4loans to offer RBOS loans
08/10/2008 - Bank of England cuts rates Oct 2008
03/09/2008 - Charterhouse Mortgages to enter liquidation
22/07/2008 - White Label Loans withdraws all self-cert products
15/07/2008 - Nemo loans withdraw self-cert products
10/07/2008 - Bank of England MPC keeps rates at 5%
08/07/2008 - Firstplus exits secured loan market August 2008
23/06/2008 - Nemo confirms no plans to withdraw
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