What is Islamic Finance? The basis for all Islamic finance lies in the principles of the Sharia, or Islamic Law, which is taken from the Qur’an and from the example of Prophet Muhammad (peace be upon him). The …
HSBC’s Retail Bank in the UK announces strong lending growth
Key commercial banking figures: · HSBC provided £15.1 billion of gross new lending to UK businesses, an increase of circa 5% (£700m) compared to the same period for 2011. · £6.3 billion of gross new lending was provided …
Lending by mutuals grows strongly in the first half of 2012
In the first half of 2012 gross mortgage lending by building societies and other mutuals was £14.1 billion, which is up 38% compared to the £10.2 billion in the same period in 2011. Lending rose 28% to £2.7 billion …
Posted in Mortgages
Tagged Building Societies Association, Mortgages, Paul Broadhead
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June Market Trend Data from Land Registry
June house prices up 0.1 per cent since May: average house price in England and Wales now £161,777 South East tops the table of regional applications with 222,280 in June Over 50,000 residential property sale prices in England and Wales …
FSA consults on new funding model review for the FSCS
The Financial Services Authority (FSA) has proposed changes to the funding of the Financial Services Compensation Scheme (FSCS) which will continue to provide important reassurance to consumers but could reduce the likelihood of interim levies and offer firms more …
Renty-somethings struggle to get on the ladder
Over a third of potential buyers are trapped in rented accommodation as they cannot afford to access the property market, with many seeing their purchases fall through due to difficulties with mortgage finance. 38 percent of potential first time …
Posted in Mortgages
Tagged first time buyers, NewBuy Scheme, Peter Bolton King, RICS
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Aldermore leaps up the CML lending table
British challenger bank Aldermore has gained ground in the mortgage market, according to the Council of Mortgage Lenders’ (CML) gross lending statistics announced yesterday. CML data for 2011 reveals Aldermore has leapt up from 24th to joint 17th in …
Connect Overseas launches online foreign mortgage sourcing system for brokers
Connect Overseas, the international mortgage specialist, is today launching a pioneering new online service for mortgage brokers that allows them to source and apply for international mortgages direct with the mortgage provider and get paid 100% of the commission. …
Buy to let second charge loans up by 40%
Buy-to-let second charge lending has increased by 40% in the first half of 2012 compared to 2011, according to figures from Blemain Finance. The specialist lender has seen a steady increase in the number of buy-to-let second charge cases …
Posted in Secured Loans
Tagged Blemain Finance, buy to let, Gary Bailey, second charge
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Which? slams new payday lending rules
A new code of practice for payday lenders has been agreed by the financial sector to provide greater protection to vulnerable consumers, but consumer champion Which? believes it does not go far enough. Payday lenders must now ensure that …