13,000 CIBC mortgage clients have come out of negative amortization

By: ameer@trustedteam.com

Over the past three months, roughly 13,000 CIBC clients have taken action to bring their mortgages out of negative amortization. Negative amortization can impact fixed-payment variable rate mortgage clients...

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Success in 2024 depends on using 2023’s lessons

By: ameer@trustedteam.com

The mortgage industry took it on the chin in 2023, with many of those same factors hurting it now likely to affect next year's profitability.That includes the Fed's own...

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Banks’ office loans: 44% said to be underwater amid soaring vacancies

By: ameer@trustedteam.com

A pedestrian exits a building in San Francisco's financial district in July 2022. An estimated 44.6% of U.S. banks' office loans currently have balances that are larger than the...

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Hanley Economic BS launches self-build loans from 5.75%   

By: ameer@trustedteam.com

Hanley Economic Building Society has launched a suite of self-build home loans that start at 5.75%.   The first is a two-year variable discount self-build/renovation part-built mortgage, with an initial...

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Hanley Economic BS adds self-build products from 5.75%   

By: ameer@trustedteam.com

Hanley Economic Building Society has launched a suite of self-build home loans that start at 5.75%.   ...

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UK landlords feel impact of rising rates: Octane

By: ameer@trustedteam.com

Monthly interest costs have soared by 283% since 2021 for landlords using interest-only mortgages, while those making a full monthly repayment have seen the monthly cost of their mortgage...

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Virgin Money, TSB and Skipton BS sign up to tall building loans

By: ameer@trustedteam.com

Virgin Money, TSB and Skipton Building Society have become the latest firms to add their names to the government’s tower block cladding safety scheme.   ...

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Virgin Money, TSB and Skipton BS commit to tower block lending  

By: ameer@trustedteam.com

Virgin Money, TSB and Skipton Building Society have become the latest firms to add their names to the government’s tower block cladding safety scheme.   The three lenders will now...

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Barclays cuts resi, landlord rates by up to 43bps 

By: ameer@trustedteam.com

Barclays will cut rates across its residential and landlord fixed-rate ranges by as much as 43 basis points from tomorrow (20 December).  The high street bank says key remortgage reductions...

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Metro Bank scraps £3bn mortgage portfolio sale 

By: ameer@trustedteam.com

Metro Bank has scrapped its £3bn mortgage portfolio sale, citing market conditions.  “The board has carefully considered a potential sale of up to £3bn of residential mortgages and concluded that, given...

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