Nottingham Letting Agent Property Blog

A new report published by the Financial Services Authority has found the majority of sale and rent back transactions were either unsuitable or unaffordable. The FSA has reviewed all regulated SRB firms and now all have more or less stopped taking on new business while one firm has been referred to the FSA's enforcement division.The FSA reviewed a total of 22 firms, but only nine had been active since they began regulating this sector. Five of the nine firms have stopped doing business in this sector while another three have decided not to do any business for the foreseeable future, while...

A new survey has revealed that the cost of mortgage fees has increased by nearly 20% during the last 12 months, even though the average interest rate charged for mortgages is at an historic low, and it looks as if banks are offsetting these low interest rates by increasing the arrangement fee in an attempt to lure in borrowers.A miniscule 357 mortgage deals out of 2,873 don't charge any arrangement fees, and some banks are charging an arrangement fee of up to 2% of the total loan. Apparently these massive sums are even affecting the inflation rates which have just increased...