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Viewing entries posted in March 2015

Stamp duty changes save homebuyers £1 billion

Posted by MMB Finance Swindon and Gloucester on 31 March 2015

More than two thirds (69%) of homebuyers across the UK are likely to benefit from the new Stamp Duty regime, with 29% seeing no change and just 2% likely to pay more, according to data produced.

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All remortgagors must undergo affordability assessments

Posted by MMB Finance Swindon and Gloucester on 30 March 2015

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In the final rules for the Mortgage Credit Directive published today, the FCA stated that there was a "compatibility issue between the MCD and our existing responsible lending regime", and have changed the rules meaning that all consumers who re-mortgage with a new lender must have an affordability assessment, even if the consumer is not looking to borrow more.

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FTBs make increasing sacrifices to get on the ladder

Posted by MMB Finance Swindon and Gloucester on 27 March 2015

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The housing crisis is creating growing anger and desperation among would-be first-time buyers, with over half willing to sacrifice spaces including garages, dining rooms and utility rooms in their search for an affordable first property. The latest First Time Buyer Opinion Barometer asked first-time buyers about the requirements that they consider to be ‘vital’ in a first home. Only 49% of first-timers cited natural light as essential. Just 54% said a garden as mandatory, and 55% a car parking space.

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FCA: retirement market is 'dysfunctional'

Posted by MMB Finance Swindon and Gloucester on 26 March 2015

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The FCA's retirement income market study published this morning has identified a "number of concerns" around how the market works.

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One in ten brokers turn down complex cases

Posted by MMB Finance Swindon and Gloucester on 25 March 2015

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Around one in ten advisors say they will turn down cases which do not fit standard High Street lending criteria. The research found that 10% would simply walk away from a case which cannot be placed on the High Street, despite a wide range of other options including going direct to a specialist advisors like http://.mmb-finance.co.uk.

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