mortgage lending

New Mortgage Lending Hits £530million

The Co-Operative Bank has revealed that new mortgage lending has reached £530 million during the third quarter of 2020.  The bank also announced that net residential lending had hit £242 million whilst net SME lending was at £225 million and Bounce Back loans and the Coronavirus Business Interruption Loan Scheme (CBILS) were reported to have…

buy to let portfolio bank

Permanent TSB sells buy-to-let portfolio

Personal finance service provider Permanent TSB has agreed the sale of a portfolio of performing buy-to-let mortgages.  The portfolio, worth about €1.2 billion, has been sold to Citibank London, the UK branch of US-based Citibank. The deal also involves the sale of a pool of about 3,700 buy-to-let loan accounts.  All of the loans are…

mortgage

The Post-Lockdown Mortgage Market

There’s no denying that mortgages have taken a hit thanks to the coronavirus pandemic. The UK government has introduced steps such as temporarily removing stamp duty on houses up to £500,000 but unless borrowers have a large deposit, they’re likely still to struggle to get the mortgage they want. Lockdown saw many major lenders pull…