There was a drop in mortgage lending in September for the second consecutive month, according to the latest data from the Council of Mortgage Lenders (CML).
The CML survey, which covers both banks and building societies, recorded a 4 per cent drop in gross lending between August and September.
PFS get go ahead
The Personal Finance Society (PFS) has been given the go-ahead for launch after SOFA members voted to support a merger with the LIA. SOFA announced the result at its EGM on Friday 16 October.
The PFS had already won the support of LIA members who earlier voted overwhelmingly in favour of the merger.
TMB get FSA permissions
HBOS-subsidiary lender The Mortgage Business (TMB) has received its scope of permissions notice from the Financial Services Authority (FSA).
It has granted TMB’s application for permissions and the lender will be fully authorised come ‘Mortgage Day’ on 31 October 2004 enabling TMB to lend and administer regulated mortgage contracts.
