News

The Mortgage Market Review (MMR), introduced in late April 2014, has slowed down the recovery of the residential mortgage market which, despite seeing healthy growth in the second quarter of this year, should be growing at a far faster rate, given the historically low mortgage rates.

Private Finance, the independent mortgage broker, has recently conducted a survey revealing that 58% of British holidaymakers ​were worried about money on their summer break this year. The survey further revealed that 18-35 year olds and those living in London and York and Humber worried the most about their personal finances during their holiday.

Private Finance, the independent mortgage broker, has recently conducted a survey revealing that 58% of British holidaymakers will worry about money on their Summer break this year. The survey further revealed that 18-35 year olds and those living in London and York and Humber will worry the most about their personal finances during their holiday.

Today, Private Finance has announced that it is recruiting experienced mortgage brokers to support its association with Strutt & Parker as it grows through acquisition.

Today, independent mortgage broker Private Finance has said that mortgage market regulation has created a bias in lending which favours investors over residential homebuyers; most especially in areas where property prices continue to rise.

Are you a would-be mortgage borrower who has been unable to gain access to private finance because of tougher lending criteria introduced in the last year or two? Did you know that, since the introduction of the mortgage industry regulator’s new affordability rules in April 2014, almost half of those who planned to buy a property have failed, according to Experian, the credit reference agency? Many of these potential buyers are ‘mortgage misfits’; borrowers with less conventional circumstances in need of bespoke products and specialist financial guidance.

Private Finance, the independent mortgage broker, has said that it is now able to accommodate borrowers who have been unable to gain access to finance since the introduction of MMR (Mortgage Market Review) by working with a number of smaller lenders who have been able to adapt their products and lending criteria to suit applicants with less conventional circumstances.

At the 2015 British Mortgage Awards, held in London on 9th July, Simon Checkley, Managing Director of Private Finance, received the top award for Business Leader of the year at a small to medium-sized mortgage broker. The judging panel, made up of the heads of various UK mortgage firms, were impressed by the growth of the Private Finance business under Simon’s direction, without compromising on its high standards of client service.