Page 4 - Phoebus Software News Today

The Financial Conduct Authority (FCA) has called on lenders to remember the standards they should meet as consumers across the country are affected by the rising cost of living. With household bills expected to continue to rise into the autumn, the FCA says it is important that firms act now to make sure borrowers

The Bank of England (BoE) has increased the base rate by 25 basis points to 1.25%. The Monetary Policy Committee (MPC) voted by a majority of 6-3 to increase the bank rate by 0.25 percentage points, to 1.25%. The members in the minority voted to increase the bank rate by 0.5 percentage points, to 1.5%. The increase

Residential property transactions in the UK dipped on a monthly basis in January, show new government figures. On a non-seasonally adjusted basis, transactions fell to 85,520, which is 22.2% lower than in December 2021 and 12.6% lower than in January 2021, according to HMRC. Meanwhile, non-residential transactions

Ayoconnect, Southeast Asia's largest open finance platform, has closed a $15 million series B financing round led by Tiger Global. The...

Phoebus Software Limited (PSL) and Lendco have signed a four-year contract which will see the specialist lender onboard all new mortgage completions onto the latest Phoebus digital account servicing platform. Lendco’s existing book of buy-to-let mortgages, bridging and refurbishment loans will be migrated onto the Phoebus platform in Q1 2022. Using agile delivery methodology,

Net mortgage borrowing increased from £1.1bn in October 2021 to £3.7bn in November, show new figures from the Bank of England (BoE) However, November’s figure is £2.9bn below the 12-month average to June and is some way off the £9.1bn of net borrowing seen in September. October’s low figure was driven, according to

Purchases were 26% lower than the previous quarter, but 10% higher than pre-pandemic levels in Q3 2019, according to the UK Finance.

House purchase activity being up year-on-year in Q3 despite dropping “sharply” after the June stamp duty deadline is mainly down to borrowers moving home, UK Finance says. In its quarterly household finance review, the trade body describes the drop off that occurred in the third quarter of this year as a “predictable

Mortgage purchase approvals were down to 67,200 in October, from 71,900 in September, according to the latest Money and Credit statistics from the BoE.

Net mortgage borrowing in October came to £1.6bn, shows new stats from the Bank of England (BoE), significantly lower than the £9.3bn recorded in September and the lowest amount recorded since July 2021. The BoE states that this fall was driven by borrowing “brought forward to September to take advantage of stamp