Mortgage lenders need automation – to make them more human | Mortgage Introducer

This summer the level of mortgage lending hit its highest level since 2008, driven by first-time buyers and remortgages in a climate of low rates. This amounts to a huge business opportunity for mortgage lenders. But as the number of loans for house purchase in the UK increases, banks will need to make sure their systems for approving mortgages can keep up with the pace of requests. At the moment many traditional banks, including the Big Six, rely on outdated legacy systems that are often several decades ol Source: Mortgage lenders need automation – to make them more human |

Continue Reading

First UK interest rate rise in 10 years – BBC News

For the first time in more than 10 years the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25{193b0148ea321fadc734c77a77411744ff00523eb37bb96872a1255c49fbad99} to 0.5{193b0148ea321fadc734c77a77411744ff00523eb37bb96872a1255c49fbad99}, the first increase since July 2007. Source: First UK interest rate rise in 10 years – BBC News

Continue Reading

Two MPC members cautious about rate rise | Mortgage Introducer

Two members of the Bank of England’s Monetary Policy Committee have spoken cautiously about the prospect of a rate rise next month. Bank of England deputy governor Dave Ramsden indicated he is not close to voting for a rate hike because there is little sign of inflation getting out of control, while new MPC member Silvana Tenreyro said she would require more data to vote for a rise on November 2. Source: Two MPC members cautious about rate rise | Mortgage Introducer

Continue Reading