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Mortgage strategy


Broker searches have gone from acceptance prices as the UK “is in the grip of the perfect storm of high inflation, a cost of living crisis and a change of government”, says Knowledge Bank. Top research in the residential sector was the maximum age of a borrower could be at the end of the mortgage …

Northern Ireland has seen its condominium property value limit rise to £190,000 as part of a decision by the Department for Communities. The property value limit is the cap on the value of a property that can be purchased as a condominium and applies to condominium, rent-to-own and condominium for over 55s. The previous property’s …

The UK government will set out its vision this autumn to ‘unlock home ownership’ for a new generation by building more homes in the places people want to live and work and shaking up our housing market, according to the plan. Treasury growth 2022. Chancellor Kwasi Kwarteng announced in this morning’s mini budget that “a …

Government plans to legislate for rental landlords to pass £400 rebates on tenants whose bills are included in their rent have been branded ‘demon landlords’ by the National Residential Landlords Association. The move comes after housing group Shelter said tenants were at the “thank you” of landlords passing on the support, first announced by Chancellor …

Rumors of stamp duty cuts on Friday as part of the government’s mini budget were described by Edinburgh Mortgage Advice founder Mark Dyason called it a “very cynical move because property prices are a sign of the country’s wealth”. It was reported this morning that new Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are …

Glenhawk has launched a range of unregulated bridging products that double its existing loan amount to £10m, targeting professional landlords with residential and hotel properties. The range covers residential loans up to 75% loan-to-value, commercial and mixed commercial agreements, up to 70% LTV, and development exits, up to 75% LTV, explains the specialist short-term lender. …

New Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are considering lowering stamp duties, The Times reports. The cut is believed to be announced this Friday, September 23, as part of his cabinet’s mini budget. Truss has made no secret of his wish to cut taxes in a bid to boost Britain’s economy, which is …

Glenhawk has agreed a £200m senior funding line with NatWest Markets to augment its regulated and unregulated lending. The specialist short-term lender says the new line will support its unregulated product range, which will focus on renovation and light development projects, larger loans and commercial property – as well as increasing of its regulated offer. …

The most borrow-dependent movers are starting to cut budgets in the face of rising interest rates and rising costs of living, according to data from Savills. A late August survey of more than 1,000 potential buyers reveals that commitment to move has also declined, at least in the short term. The net balance of people …

According to Bridging Trends data for Q2 2022, average short-term lending rates continue to decline, from 0.71% in Q1 to 0.69%; a long-standing trend, ranging from a slow rise over the decades to a steep decline in recent years as the market grew in competitiveness, sizeand accessibility. The question is when will short-term financial rates …

Even the most optimistic among us will find it hard to deny that the next two years could be very difficult for the industry. Despite the Bank of England’s various efforts to avoid a recession, we hear interest rate forecasts to exceed 3% by the end of the year and inflation continues to beat forecasts …

The second mortgage market continues to experience rapid growth, supported by significant economic and social changes over the past two and a half years. Data from the Finance & Leasing Association shows the market added £130m in new business in June 2022, which is a 29% increase on the same month in 2021. Customers should …

Coventry for Intermediates launched a range of three-year fixed-rate mortgages in response to the need for “medium-term certainty” in the face of rising interest rates. Coventry Building Society’s broker-only arm says the range will match corresponding rates in its two-year product range and comes after “broker feedback suggests growing client demand for medium-term certainty”. He …

At first glance, the housing market seems more intimidating than ever for first-time buyers (FTB). Prices have risen sharply in recent years – much faster than average wages – creating affordability issues for all buyers, but especially those trying to climb the first rung of the ladder, who don’t have of a cushion of real …

The industry must work to change public perception of the condominium (SO) market as the housing sector becomes more difficult for first-time buyers (FTB), says a panel of industry commentators. Speaking at a follow-up roundtable to Sesame Bankhall Group’s (SBG) white paper, ‘Overcoming the challenges facing first-time buyers in the UK’, Alex Beavis, SBG’s Director …

A study by MetLife indicates that 48% of homeowners in the UK are worried about their ability to pay mortgage payments. On top of that, research shows that 42% of the 2,000 owners surveyed by the company say they have no savings to use if they lose income. Young people with mortgages appear to be …

It’s no industry secret that many lenders are frantically pulling product lines – sometimes their entire supply – off the shelves with the promise of a quick relaunch. For example, according to data provided by Moneyfacts, things started in August with Post Office Money cutting its range, followed by the Coventry Building Society taking the …

According to Hodge Bank, the number of homeowners taking out retirement interest-only mortgages to consolidate debt has nearly halved in the past year despite the looming cost-of-living crisis. The percentage of customers who applied for RIO loans who wanted to reduce their debts has fallen to 7% so far this year, from 13% in the …

Reliance Bank has refreshed its range of home loans for the middle and direct market, but retains cash back incentives for key workers and condominium completions. The specialist lender adds that it will accept gifted deposits from family and friends when the source of funds is from the UK. It says key worker applicants will …

Foundation Home Loans has added a two-year “special edition” buy-to-let product up to 75% LTV to its Green ABC+ mortgage portfolio. Products are available at up to 75% LTV for limited companies and individuals looking to remortgage or purchase. The specialist lender is offering the deals as part of its F1 product line, for borrowers …

The new government led by Liz Truss, which takes office tomorrow, must restore tax allowances for homeowners to get them back on the market, said Cluttons manager James Hyman. Reacting to today’s news, Hyman said: “The new Prime Minister’s priority must be to ensure that interest rates do not soar out of control, as this, …

West One Loans has launched a bridging range with variable interest rates linked to the Bank of England base rate. The range is available at up to 70% loans offered across all of the specialty lender’s existing bridging product categories, including regulated and unregulated. Pricing starts from 70 basis points plus base rate for residential …

Searches for brokers fell 4.8% on mortgage platform Twenty7tec in August from the previous month, with the number of available home loans falling to its lowest level since July last year. The fintech company says there were 1.4 million buy and remortgage searches on its platform last month, a traditionally quieter time for the industry …

According to L&C, around a quarter of young workers are considering relocating now that remote working has become an established practice. The brokerage says in a survey that 26% of 16-24 year olds and 23% of 25-34 year olds plan to move now that they can work remotely, attributing those attitudes to lockdown work practices …

Sellers are willing to cut their asking price by up to £150,000 to entice a cash buyer for a smoother sale in a frenetic property market, according to GetAgent. The average asking price for homes listed in London is currently £486,931, but those looking for a cash buyer are signing up at an average asking …

NatWest will reimburse around 700 small businesses for a total of £600,000 after wrongly forcing them to open checking accounts to secure a loan, following a ruling by the Competition and Markets Authority. The big bank broke banking rules on ‘bundling’ by forcing business customers to open a business current account, which incurs a fee, …

Buyers and sellers must negotiate lower valuations averaging £8,000 “as the UK property market begins to cool”, according to HBB Solutions. The average UK property price is currently £286,397 but property sales are seeing valuations fall by 2.8%, says the chain repair property buyer. He adds: “This means there is a gap of £7,978 between …

There was a slight decline in net mortgage borrowing in July, according to Bank of England (BoE) figures, from £5.3bn in June to £5.1bn the following month. However, this remains above the pre-pandemic average of £4.3bn for the year to February 2020, and data also shows gross lending increased in the month to July 2022, …

Ofgem’s confirmation that the energy cap will rise from £1,971 to £3,549 a year from October has caused dismay among many in the mortgage industry. Apart from immediate concerns about staying warm this winter, brokers fear affordability ratings will be significantly affected, making it harder for people to buy a home. For example, Dimora Mortgages …

Brokers are being urged to plan ahead as nearly £100billion in mortgages are due to mature before the end of the year. Analysis from Accord Mortgages shows that almost a third (£29.1bn) of total home loans ending this year will occur in December, while the second-largest maturity month is October , when £26.3bn of mortgages …

Coastal areas have seen the biggest drop in first-time buyer (FTB) affordability during the pandemic as strong house price growth outpaced local wage developments, the new affordability analysis has found. from Rightmove. Data is based on an average solo FTB and assumes they were able to save up to 10% down payment on an average …

The Competition and Markets Authority has secured agreements from nine building companies which have purchased freehold properties from Taylor Wimpy to remove their dual ground rent conditions, which will see an additional 5,000 UK households receive refunds. The watchdog says new actions in its lengthy investigation also mean four other developers – Crest Nicholson, Redrow, …

Atom bank revealed that its four-day working week has been an “overwhelmingly positive experience” for employees, with improved productivity and job satisfaction. The bank, which introduced the four-day working week in November last year, said it had seen an increase in job applications, an increase in staff and a drop in attrition. Applications were up …

The Saffron Building Society has hired Lee Williams, former business development manager for the Stonebridge Group. Williams will take on the role of Regional BDM for South, South West and South Wales with the company and has experience as a broker, selling mortgages to a lender, as well as in within the Stonebridge network. This …

Impact Specialist Finance has launched a range of buy-to-let (BTL) mortgages through MT Finance. The range is only available through a select group of packers, which includes Impact Specialist Finance. The products include an income coverage ratio of 125%, which is available for first-time buyers (FTB) and allows up to four applicants. Available at up …

Paradigm Mortgage Services has added the Scottish Building Society to its panel of lenders. This will allow members in Scotland and the North of England to access the company’s range of residential mortgages, contractors, guarantors and professionals for both buyers and repayers. Scottish BS also offers retirement interest only mortgages, as well as products for …

Loans in the relay business rose 14% in the second quarter to £178.4m from the first three months of the year, according to MT Finance, as a ‘continued shortage of stock means there there has been no letting up in terms of pressure on buyers”. The second quarter figure is up 22% from the same …

End-of-life lender More2life has launched a new range of high LTV capital release products. This range will offer LTVs of up to 31.7% for 55 year olds, up to 61.7% for flexible 84 year olds and over. This range, known as Apex, will be available for loan amounts from £10,000 and available on properties priced …

The Competition and Markets Authority (CMA) has closed its investigation into Barratt Homes over the sale of leasehold accommodation. The AMC says it has now “closed its case” and concluded that it was “insufficient to support a clear legal case for the AMC to secure a class action for Barratt leaseholders under its powers in …

Digital bank Perenna said it received its banking license today (August 16) and plans to offer 30-year fixed-rate mortgages to its customers. The fintech company says it has obtained a banking license with restrictions from the Prudential Regulation Authority and the Financial Conduct Authority, adding that once its banking infrastructure is in place, it will …

The UK residential mortgage market is set to grow by 56% to reach £400bn by 2030, according to new research from Together. It also predicts that due to the rise, almost 500,000 mortgage applications will depend on specialist lenders who will double their market share to 4% of the overall UK mortgage market. The study, …

Dudley Building Society has launched a new home loan for people with long-term disabilities. The product is an exclusive agreement with mortgage arranger MySafeHome, a leading homeownership advisor for people with long-term disabilities (HOLD). The mutual says the loan follows government support for the mortgage interest rate ‘so borrowers don’t need to top up their …

Paradigm Mortgage Services has formed a partnership with Twenty7tec. Twenty7tec has been added to the list of technology providers allowing Paradigm member companies to integrate the system into their operations. Paradigm says the new relationship would focus on providing technology solutions to member companies to help accelerate adoption within their businesses. Twenty7tec’s Velocity technology solution …

The economy slowed in June, with inflation and an uncertain outlook fueling recession fears. The Office for National Statistics (ONS) released its monthly GDP growth estimate today (12 August). It shows that the economy contracted by 0.6% in June, with services being the main driver of the decline, as they fell by 0.5% during the …

According to the latest report from the Royal Institution of Chartered Surveyors (Rics), inquiries from new buyers fell for the third consecutive month in July, as the cost of living crisis competed with weak supply in the housing market. A net balance of -25% of survey participants reported a drop in new inquiries last month …

Legal & General Mortgage Club has launched a green hub to support the mortgage industry as the UK works towards its net zero target. The hub includes a timeline of key milestones industry professionals need to be aware of, which currently extends to 2035, and covers subtopics such as heat pumps, energy performance certificate (EPC) …

PEXA has confirmed that Hinckley & Rugby Building Society and Shawbrook Bank will be the first lenders to start processing remortgage cases through its platform. This follows the successful test of its PEXA Pay system earlier this year. Hinckley & Rugby Building Society and Shawbrook Bank are among the first to announce their partnership with …

Lifetime Connect has hired Dom Scott as managing director of the financial support services company, replacing Steve Fryett who becomes managing director of Quilter Financial Planning. Scott will also serve on the board of brokerage platform 360 Dotnet. Scott joins brokerage firm Alexander Hall, where he was also a managing director, stepping down in July …

Average two-, five- and ten-year fixed residential mortgage rates are approaching levels not seen in a decade. Moneyfacts data shows the two-year average rate is 3.99%, while ten years ago the rate was 4.62; a five-year average fix is ​​now 4.14% and was 4.73% in August 2012, while a 10-year fix is ​​now at an …

The Financial Conduct Authority (FCA) has lost £32,900 worth of electronic devices since July 15, 2021. This figure was revealed by an Access to Information (FOI) request submitted by Mortgage strategy sister magazine Money Marketing July 8, 2022. Lost electronic devices include laptops, tablets, and desktop computers. Laptops were the most common loss, with 32 …

NatWest Intermediate Solutions has expanded its green mortgage eligibility criteria to include eight new build developers. Main Street Bank’s range of green mortgages currently offer new and existing customers a preferential interest rate if they have an energy performance certificate rating of A or B. However, from today (August 8), the lender says intermediary customers …

The average time a mortgage product will stay on the market is currently 17 days, according to Moneyfacts. This is a new high, shorter than the previous low which was only reached in June this year. At the same time, Moneyfacts warns that the average rate for a five-year period has now risen for the …

The Suffolk Building Society has become the latest lender to announce it will temporarily halt mortgage applications due to high demand, effective immediately. The mutual says it is “closely monitoring the mortgage market, which is under increasing pressure, and after careful consideration, the decision has been taken as a necessary step; over the past few …

Annual house price growth in the UK slowed to 11.8% in July, taking the average house price to £293,221, according to the latest Halifax House Price Index, while house prices transactions fell for the first time in 13 months. Year-on-year growth fell 12.5% ​​in the previous month as house prices edged down 0.1% in July, …

A number of brokers approached Mortgage strategy with complaints that HSBC’s online systems have prevented case submission and management for the past 24 hours. Describing the day before today, August 4, as “chaotic”, a broker said he was unable to reach any business development manager (BDM), “and the standard time to respond to a telephone …

The Bank of England’s decision to raise interest rates by 50 basis points, bringing interest rates to 1.75%, the highest in 27 years, will encourage homeowners to seek mortgage deals and further fuel cost of living concerns, according to the industry. The move is an attempt to tackle rising inflation, which the central bank says …

The number of new deals made for a second mortgage in June stood at 2,854, up 24% from a year earlier, according to the Finance & Leasing Association (FLA). The value of new business in June rose 29% over the same period to £130m, the latest FLA report adds. This means that in the 12 …

The Bank of England raised the base rate by 50 basis points, bringing interest rates to 1.75%. It was the biggest rate hike since 1995 and the biggest increase since the central bank took control of the crucial decision. At its meeting today, the Monetary Policy Committee voted by an 8-1 majority in favor of …

Mortgage Magic launched a back-office system for mortgage brokers. The digital platform says the out-of-the-box system, called Prometheus, includes an integrated customer relationship management system, electronic identity verification, direct messaging and UK-based secure document storage. United and GDPR Compliant. It also allows business owners to manage and monitor business activities. Tanjir Sugar, Director of Mortgage …

Moneyfacts Analyzer users will now be able to search and filter “green” residential and rental mortgages. Currently, the system will provide details of 525 residential mortgages and 302 such BTL mortgages. Green mortgages have grown in popularity in recent months, with a number of lenders launching mortgages aimed at lending on more energy-efficient properties and …

According to Standard Life Home Finance, more than two-thirds, or 70%, of capital release clients do their own research before speaking to an advisor about end-of-life loans. The end-of-life lender’s Lightbulb Moments survey adds that 34% of customers have relied on information from family and friends, while 35% have requested guides from various companies. Only …

According to L&C Mortgages, the average of the most attractive two-year fixed rate mortgage transactions is now more than 2% higher than at the start of the year. The low average two- and five-year mortgage rates of the ten major lenders “rebounded” in July, according to the mortgage adviser’s Remortgage Tracker. The average two-year fixed …

When Scott Gentile attempted to purchase a property in Jersey City three years ago, he encountered difficulty. After resigning from his role as vice president at Goldman Sachs, Gentile, 32, founded Crescent Crypto, a company that manages digital currency assets. The majority of his net worth was invested in Bitcoin and Ether. Although Gentile, who …

Begbies Traynor Group has acquired Mantra Capital, a London-based property finance broker, for a total consideration of up to £18m. Following the acquisition, the group will launch BTG Funding Solutions, a financing broker covering a range of sectors. Mantra operates with a team of 23 employees, including two directors in London. The team will bring …

Hampshire Trust Bank has bolstered its specialist buy-to-let range – which includes limited company, multi-occupancy homes and semi-commercial options – by increasing its maximum loan size to £25m from £15m. million pounds. The lender says its financing for LLCs includes commercial companies, special purpose vehicles and new special purpose vehicles, as well as loans to …

Nearly £6billion has been given in rebates under the government’s Right to Buy (RTB) scheme since the size of the rebate was increased in 2012, analysis by the Local Government Association reveals . The LGA, which represents more than 350 councils in England and Wales, warns the scheme is becoming unsustainable with councils struggling to …

It was only five years ago that I started Access FS as an individual brokerage firm. It seems hard to believe that we just hit 100 brokers in the business. You’ll want to plan where to get your leads; What referral relationships can you put in place to help you? The biggest challenges I faced …

Glasgow is the UK’s best city for first-time buyers, according to Aldermore. Scotland’s second-largest city topped the specialist bank’s first-ever first-time buyer attractiveness index, which ranked 50 UK towns on ten property and lifestyle metrics, such as average FTB selling price , FTB as a share of local sales, average full-time salary, and even restaurants …

NatWest is in the early stages of considering a bid for wealth management firm Quilter, according to reports. City sources apparently told This Is Money that private equity firms such as CVC, Bain Capital and BC Partners have also shown interest in the FTSE250 group in recent weeks. Quilter is worth £1.4 billion. It is …

Hodge has launched two bridging loans aimed at experienced small business developers and brokers specializing in development finance. The bank says its acquisition bridge offering is a short-term financing product for developments with or without detailed or proposed use planning permission, where a change in planning or use permit is required, or for agreed developments …

Precise Mortgages is set to expand its home improvement buy-to-let (BTL) range to offer new exit products. Previously, the product combined short-term financing with the security of a long-term exit, but new options are now available, depending on the type of renovation work being done. The products are designed to help brokers and their clients …

The gap between maximum and minimum average loan size is at its widest since Mortgage Broker Tools began reporting data on this market more than 18 months ago. The platform’s June Affordability Index found that the gap between the minimum and maximum loan offered to an average mortgage customer was over £133,000. That’s around 28 …

Borrowers who remortgaged in June saw their average monthly payment jump by £236, according to LMS. The conveyancing services company’s Monthly Remortgage Snapshot adds that 52% of borrowers increased their loan amount last month to an average of £22,644. The average mortgage amount in London and the South East was £301,982, while the average for …

Rents in the UK rose by 8.21% on average between the second quarter of last year and the second quarter of 2022, according to The Deposit Protection Service (DPS). This equates to average rents rising from £804 to £870 per month. And the jump from Q1 2022 to Q2 2022 came at 2.47% – from …

Mortgage Advice Bureau (MAB) has partnered with Yuno, demonstrating its investment in the buy-to-let (BTL) industry. The agreement, which was reached in June, will benefit rental agencies and private owners to keep up with the ever-changing legislation. Launched in February 2020, Yuno. uses technology to track and map changes in the market, with the aim …

The Competition and Markets Authority (CMA) has told Monzo Bank it must comply with banking rules after the firm failed to send more than 13,000 customers their transaction history when they left the company. This breach of the Retail Banking Market Investigation Order, described as “just not good enough” by CMA Senior Director Adam Land, …

Mortgage Magic has developed and launched its own electronic identity verification (E-ID) technology. The new technology is available as part of Mortgage Magic’s trading platform for brokers, which enables easy identity verification of their clients. Mortgage Magic says it also makes the technology available to other customer relationship managers (CRMs) and procurement providers through an …

Norton Broker Services has added TAB to its panel of lenders. The agreement will allow brokers using Norton Broker Services to access a range of residential and commercial first and second load bridging loans, development finance and renovation products from TAB. TAB, which launched in 2018, has developed a lending model that allows it to …

Describe your business in a few sentences Lofti is the UK’s first three-in-one property management platform for small to medium sized agents and portfolio owners. The goal is to simplify complex operational tasks that are currently performed using multiple software vendors. These tasks are typically error-prone, time-consuming, require extensive training, and can be expensive, as …

While the real estate market has slowed from last year’s figures during the stamp duty holiday period, “the market is far from quiet”, according to industry professionals. Speaker at the last Lenders Live panel on LinkedIn, which is hosted by Knowledge Bank, Graham Sellar, Santander’s business development manager for mortgages, says: “In the UK we …

Asking prices for first-time buyers and equivalent asking rents have increased three times faster in the past two years, compared to the same period before the pandemic, according to Rightmove. New data from the real estate website says average asking prices ‘for FTB type properties’ – two bedrooms or less – have risen 13%, or …

Pure Retirement will offer the option of a free energy performance certificate (EPC) to new customers who have chosen a traditional life loan. The initiative will see the survey proposed at the end, which will be carried out by Vibrant Energy Matters. Clients will then receive an EPC, detailing their property’s current energy efficiency rating, …

The Mortgage Climate Action Group (MCAG) has announced its first event, which will be open to attendees from across the industry. The event will take place virtually on August 4 starting at 9:30 a.m. The hour-long event will outline the motivation behind founding MCAG, its philosophy and purpose, explore the current industry landscape, and examine …

The Mortgage Lender (TML) has made two new appointments to its London team. Sarah McCawley has been promoted to key account manager for central London while Jo Gee has been hired as a dedicated underwriter. McCawley has worked in financial services for more than 20 years, including as Key Account Manager for Foundation Home Lending …

Stonebridge and Mortgage 1st have extended their partnership with a new long-term contract. The move will allow the Derbyshire-based mortgage advice firm to remain as part of the Stonebridge network as its appointed representative company in a combination that has already spanned more than a decade. Mortgage 1st joined the network in July 2010 and …

More than three-quarters of owners are willing to spend up to £3,000 to upgrade each of their properties to Energy Performance Certificate C to meet new regulations, but the average cost of these upgrades is over £10,000 £, according to Paragon Bank. It revealed that 77% of buy-to-let landlords are willing to spend £3,000 to …

The average number of visits per property fell 29% in June as the number of new buyers signing up per Member Branch in June appears to have echoed the levels seen in the winter months, according to the latest data from Propertymark. The data revealed that the number of views fell from 6.2 in April …

‘The first comprehensive review of the mortgage market in a decade….’ This is according to the government press release following Boris Johnson’s housing market announcements earlier in June. If you thought it sounded like a hodgepodge of measures, designed to try to alleviate some of the sting of a rather tight ‘vote of no confidence’ …

The equity release market is approaching £6billion in new loans this year after a record first half in which the average customer released just over £100,000 in property wealth, according to new data from Key Later Life Finance. The data revealed plan sales rose 24.5% in the first six months of the year to 25,448 …

About a third of realtors and real estate agents say a lack of “mutual respect” between these professionals “prevents them from working together effectively,” according to a Coadjute report. It found that 32% of both professions shared “similar frustration” and agreed that “greater mutual respect would improve the relationship between real estate agents and real …

First-time buyers now need to save an extra £15,000 to buy their first home, according to new research from Mojo Mortgages. Data revealed that the average home buyer saves a £33,000 down payment to get on the UK property ladder, up from £18,000 in January 2021. Mojo Mortgages also analyzed data from its mortgage partners …

TSB Bank is set to face a lawsuit worth up to £800million today, brought by customers who claim they were locked into mortgages with ‘excessively high’ interest rates. The legal action will see around 200 homeowners whose mortgages were administered by the TSB’s Whistletree brand claim around £50,000 each in overpaid interest. Today marks six …

Landbay and Phoenix Group have formed a strategic partnership to fund long-term fixed rate mortgages. The new agreement with Phoenix is ​​the latest funding partnership for Landbay’s growth journey. Phoenix adds another type of funder to its existing lineup, which includes banks and asset managers as well as securitization programs. The group’s pension expertise will …

Mortgage Magic has launched an automated onboarding process to give smaller brokerages immediate access to its platform. The automated onboarding process means that brokerages using Mortgage Magic can start using the platform immediately, without the need for complex technical setup or speaking to a sales representative. Mortgage Magic provides brokers with a solution to manage …

Although the market is stabilizing for most of the deal pipeline, deals are lengthening between sale subject to contract (SSTC) and completion, according to the latest market data from Landmark Information Group. The latest report shows that most of the deal pipeline is performing well, with listings, SSTC, and searches deviating no more than 5% …

Lenders expect the availability of secured credit to decline slightly over the next three months to the end of August, according to a Bank of England (BoE) survey. This follows the first three months of the year, when lenders reported that the availability of secured credit to households had fallen, according to the BoE’s quarterly …

The Saffron Building Society has launched a number of self-build products as part of its summer campaign. Up to 75% LTV, the two-year fixed rebate up to £1 million now has an initial rate of 3.79%, and up to 80% LTV, the initial rate is now 3, 99%. Up to 75% LTV for large loans …

Leeds Building Society has introduced new five-year fixed rate products to its mortgage range. The company is adding a five-year, 3.25% fixed-rate product available up to 75% loan-to-value (LTV) as well as a five-year, 3.34% fixed-rate product available up to 80% LTV. Both come with a £999 product fee. In addition, it is launching a …

The mainstream media has agitated the question “Is buy-to-let investment worth it?” pot seriously over the past month or so. Naturally, this scared off a few existing and potential owners. And I understand there’s been a lot of added pressure on investors recently. However, I don’t believe the outlook is so bleak that we are …

Construction output in May rose 1.5% from the previous month, the seventh consecutive month of volume growth to a record high of £15.1bn. May’s increase came solely from an increase in new work, of 2.8%, as repair and maintenance activity fell slightly, down 0.4% on the month, according to the Office for National Statistics. At …

Paradigm Mortgage Services has added Octopus Real Estate to its lending panel. Paradigm member companies will have access to Octopus lending solutions, covering residential, buy-to-let, commercial and development financing. Octopus Real Estate offers residential and commercial bridging loans, pre-approved auction loans, commercial term loans and rental mortgages, including specialized products for short-term rentals, first-time buyers …

Mortgage and protection aggregator Pivotal Growth has acquired The Buy to Let Broker for an undisclosed amount. Pivotal Growth was formed in April last year, as a joint venture between LSL Property Services and Pollen Street Capital to buy and build a national mortgage adviser. It is the latest in a series of acquisitions by …

NatWest raised rates for new businesses and existing customers by up to 44 basis points. The largest increases are in the lender’s rental and residential products for existing customers. For existing customers, a two-year BTL fixed rate switcher at 60% LTV, increases by 40bps from 3.14% to 3.54%, at no cost. A two-year BTL fixed …

According to industry professionals, the government’s review of intergenerational mortgages does not solve the fundamental problems of the UK housing market. new projects, which were revealed earlier this month, would see homeowners take out 50-year mortgages to pass on to their children upon their death. Although this style of mortgage has been introduced in other …

Brokers are in the midst of a torrid period caused by product withdrawals by lenders. As interest rates rise, slow-to-adapt lenders can quickly become inundated with business they weren’t designed to handle. We hear stories of lenders having to pull out because their back offices are in crisis, leading to another deluge if brokers can …

With the recent heat, we all felt the need to open the windows. But you would never dream of leaving the house without closing them first, lest you lure an opportunistic thief into your home to steal your belongings. Do you also ensure that the “windows are closed” in your company? Or are you inadvertently …

As vendors continue to revise and reassess their product lines, overall two- and five-year average rates have risen sharply this month, according to the latest data from Moneyfacts. The latest Cash Trends Mortgage Report from Moneyfacts UK shows the two have seen the biggest monthly increases since 2007 when it started recording data. The two-year …

With mortgage arrears hitting £2.05bn at the end of the first quarter (Q1) of 2022 – the highest level for 12 years – property professionals expect that figure to rise further this year. Regulated and unregulated mortgage arrears hit historic totals in March, the highest figure since June 2010, when arrears reached £2.09bn, according to …

As an owner myself, would I have any scruples about buying a bungalow to rent? Well, I’ll let you in on a little secret, I’m currently renting a bungalow to a family. Now, in all honesty, a bungalow probably wouldn’t have immediately emerged as the property type of choice when adding to my portfolio. However, …

The Co-operative Bank has launched additional green loan products for its existing customers. Holders of eligible Co-operative Bank, Britannia and Platform mortgages will be able to use the bank’s new energy savings improvement tool, powered by Energy Saving Trust, to create an energy savings improvement plan. personalized energy and access to an additional green loan …