Posts in category

Mortgage strategy


CHL Mortgages entered the short-term rental market with the introduction of a new range of five-year fixed rate products, up to 75% loan-to-value (LTV). The new five-year 65% LTV short-term rental products have two fee options. The 3.50% rate has a 2.5% fee while the 3.80% rate has a 1% fee. Five-year fixed 75% LTV …

Intermediary-only specialty lender Foundation Home Loans has launched new fixed and discounted two-year Green ABC+ options for residential homeowner borrowers. The new range of green products, available as part of the Foundation’s F1 and F2 product range, is aimed at borrowers buying or paying off a property with an EPC rating between A and C. …

In any word association game, saying “blockchain” will surely bring Bitcoin to mind. But the technology behind digital gold is much more versatile than many realize. Essentially, the type of blockchain that powers Bitcoin is a public ledger shared by each party that is updated in real time whenever a transaction is made. These transactions …

Just Mortgages has launched a new 12-week masterclass course for brokers when they have finished going through the academy. The Pathway to Skill course, designed by former brokers, aims to support new brokers in their transition from obtaining their CeMAP qualification to advising clients. The full-day masterclass session includes advice from a lender on the …

UK property price growth will slow this year and is expected to produce only single-digit growth according to the latest forecast from Knight Frank. The real estate and rental agency forecasts 5% annual growth in 2022, with only 1% growth the following year. He said higher mortgage rates, squeezing the cost of living and increasing …

Remortgage instructions fell 26% in March as lenders reacted to heightened levels of uncertainty around the cost of living crisis, according to the latest remortgage data from LMS. The data showed there was also a 28% drop in mortgages completed in March, which was “fully expected” given the spike in prepayment charges (EPC) in early …

Demand is starting to return to London’s prime market, with sales price reductions according to the latest data from estate agents. At the upper end of the London market, properties are now discounted by an average of 3.6% before they find a buyer. Estate and letting agents Benham and Reeves point out that’s less than …

Market Financial Solutions (MFS) has joined The Business Mortgage Company (TBMC) panel of lenders. Targeting a £1bn loan portfolio by 2023, MFS has joined TMBC’s lender panel to reach more brokers. TBMC aims to help brokers find buy-to-let (BTL) mortgages as well as short-term commercial loans and sub-loans. MFS, which was founded in 2006, offers …

BuildLoan has partnered with the Newcastle Building Society to launch a new range of bespoke, build-your-own products. The new offering will provide self-employed and bespoke builders with up to 90% of their land and construction costs, to reduce the amount of money a client has to invest in their construction. The products will offer up …

Australian fintech PEXA has developed a new payment system and has partnered with ClearBank to expand access to its mortgage platform, which is set to launch later this year. PEXA’s new remortgage platform aims to streamline the process for all parties involved in the remortgage process. Transactions will begin on the new PEXA Pay payment …

According to new data from HUB Financial Solutions, a significant number of lifetime mortgage customers lack key legal protections designed to protect their wealth or health later in life. HUB, one of the largest providers of regulated share release advice in the UK, has found that one in five clients (20%) who seek advice on …

Mortgage broker SPF Private Clients has been acquired by insurance broker Howden. Howden, which offers a range of insurance and wealth management advisory services, including a high net worth division, says the acquisition allows it to create a “full-spectrum UK broker”. SPF Managing Director Mark Harris will remain CEO of SPF, which will now form …

The spread between two-year and five-year fixed rates is the lowest since February 2013 at 0.15%, as average fixed rates hit a five-year high, according to the latest data from Moneyfacts. The average two-year fixed rate was revealed at 2.86% for April and is the highest since June 2015 after rising 0.21% since last month. …

London & Country Mortgages and Habito are in discussions about a possible combination, according to Bloomberg. The two companies would work with advisers on a deal, creating one of the UK’s largest mortgage brokers. The deal, expected to be announced in the coming months, would combine London & Country’s telephone advisers with Habito’s online platforms, …

Specialist lender OSB Group has launched a range of relays through its Precise Mortgages and InterBay brands. The group says it has introduced a two-tier offering on top of its standard bridge financing options to allow brokers more choice. These include structural works and extensions for residential customers, as well as financing for the reconversion …

This week, all average fixed mortgage rates have increased, according to data from Moneyfacts. Specifically, the average rate for a two-year fixed rate increased by 3 basis points, to 2.89%, and the average rate for a three-year fixed rate increased almost as much, with an increase of 2 basis points bringing it to 2.92%. The …

The stamp duty holiday has triggered an increase in the number of homeowners taking out marathon mortgages, leaving many vulnerable to higher long-term costs, according to Quilter. Chancellor Rishi Sunak introduced the tax relief in July 2020 to revive the housing market, which had stalled due to the pandemic. It was withdrawn in two stages …

LiveMore Capital has partnered with brokerage firm Specialist Mortgage Group (SMG) as part of the company’s plans to expand its market reach to borrowers aged 50 and over. The new partnership will allow SMG brokers to recommend mortgage products specifically designed for borrowers aged 50-90+. LiveMore’s approach to affordability considers all income, including pensions, investments, …

Santander has updated its Self-Employed Policy which will affect residential applications for self-employed people. From April 11, Santander will take an average of the revenue figures for the last two years, or the last year if lower. For existing Santander mortgage customers moving, it was explained that underwriters may be able to use a more …

Santander has partnered with Groundsure to help assess climate risk in its commercial loans. The bank has worked with Groundsure to create a new report called Siteguard Climate, which details a four-tier risk assessment summary covering environmental liability, loan guarantee risks and the potential impact on property values ​​than those these may have on each …

Black & White Bridging has appointed Robert Owen to its board of directors as a non-executive director. Owen comes from United Trust Bank where he worked for seven years. He was recruited from United Trust Bank to create a new division specializing in home loans for the bank, becoming managing director of the mortgage and …

Accord Mortgages has launched a new range of products for those who have already been refused a mortgage. The intermediary-only lender says the new Cascade Score products were designed to provide an alternative option for brokers whose clients do not meet Accord’s higher LTV scorecard, but meet its standard scorecard. For cases that would previously …

MFS (Market Financial Solutions) has lowered rates on its range of BTL (buy-to-let) mortgages and bridging loan products. Rates on MFS’ BTL mortgage range, which launched in January this year, will now start at 3.29%, down from 3.79% previously. The changes will also allow cumulative monthly payments of up to nine months instead of the …

Shutterstock/ FFIKRETOW The Covid-19 pandemic has wreaked havoc not only on our way of life but, for many people, on their finances as well. Companies that were strong one day fell apart the next, while others had to find innovative ways of working. Vacations, reduced hours and increased debt have become a feature of many …

Precise Mortgages launched a line of residential mortgage products for customers with poor credit profiles, including those with county court judgments, defaults and active debt management plans. The lender says the maximum loan-to-value ratio for customers with lower recent adverse credit levels will increase to 85%. It will reintroduce its broadest acceptable level five junk …

The Conveyancing Foundation has made an appeal for Ukraine by opening its monthly Charity Lotto to members of the public for the first time. Convey Law launched the appeal with an initial donation of £15,000. The Foundation said all funds donated will go directly to the official DEC Ukraine appeal. This brings together 15 of …

The Financial Ombudsman Service (FOS) is targeting a 7% year-over-year improvement in underlying productivity. This targeted increase was announced in its plan and budget for 2022/23 published on March 30. The FOS is going through a process of restructuring through an action plan and hopes that the changes will further improve productivity. FOS has set …

Flexible retirement is becoming more common as more retirees choose to work part-time in the gig economy. According to a new report from Abrn, two-thirds of people retiring in 2022 do not plan to give up their jobs completely. That compares to just over half of those who retired in 2021 and a third of …

I have always been enterprising. I started my first business when I was 17. Since then I have built and sold a £120m valuation business, managed over £400m in private equity, closed over £2bn in secured loans and managed a team of over of 100 people. Overall improvement I founded TAB in 2018. In my …

The number of private rental households headed by someone over the age of 45 will increase by 1.4 million by 2035, according to a study commissioned by Paragon Bank. According to a new study by the Social Market Foundation (SMF), the private rental sector will age over the next decade, as the proportion of young …

The Equity Release Council has made partial loan repayments without penalty a prerequisite for all equity release plans for new customers starting today (March 28). The decision is expected to save equity customers nearly £100 million in interest charges over the next 20 years. The move will help clients lessen the effects of compound interest, …

The past year has seen an increase in the number of “green mortgages” offered to rental owners. Data from broker BTL Mortgages for Business shows that at the start of March this year, 353 green products were now available. This compares to just four products available to owners 12 months prior. The number of products …

The Chancellor’s spring statement served to further reiterate the dire financial difficulties many are facing as their money is stretched harder than ever. At a time when absolutely every penny counts, there is a real need for advisors to help their clients make the best decisions possible for them. In the space of just a …

What is the main focus of your role as UK Mortgage Manager? I lead our mortgage team, which works with and on behalf of all lenders in the sector (banks, building societies and specialists), whatever their size, whether they are general public or more bespoke. We strive to represent them and promote sustainable housing finance …

Hodge is expanding its residential development offering, incorporating lending across the alternative residential asset class, including student housing and retirement residences. The provider says the change comes in response to demand from its clients and brokers seeking funding in this asset class. After focusing more on pure residential development over the past two years, Hodge …

According to Evolution Money’s quarterly tracker, more prime borrowers are taking out second mortgages. It says the split of second-load proceeds by mortgage volume is 73% for traditional debt consolidation borrowers, compared to 27% for primary borrowers in the three months to the end of February. By value, the spill was 63% of debt from …

As we begin to see the effects of the global pandemic wane, we face a new challenge that will affect us all again: the rising cost of living. And brokers now have a real opportunity to demonstrate the value of advice. The term “advice” has never been more widely used than it is today, but …

Online mortgage company Habito is now offering longer-term fixed rates for homeowners at seven and 10 years. The company says these fixed rate terms would be offered at both 80% LTV and 85% LTV. And a new product at 85% across the full range of terms has launched for properties with an Energy Performance Certificate …

The threshold was supposed to increase by £300, but it will increase by £3,000 instead. This is a £6 billion tax cut for 13 million people, or £330 a year. “This is the biggest tax cut in a decade,” Sunak said. He added that 70% of workers will see their taxes reduced by more than …

Today’s spring statement was a low-key affair on housing policy, but Chancellor Rishi Sunk announced a zero VAT cut for energy efficiency improvements. Industry figures were quick to make their views known. Keystone Property Finance managing director Elise Coole is pleased with the news but has some reservations. She says: “While this is a step …

OSB Group is set to create a high net worth client management team across its lending brands. Simon Cockerill, head of intermediate sales development, will lead the team that will work on all of the group’s brands; Precise Mortgages, Kent Reliance for Intermediaries and InterBay. Marc Callaghan, who left OSB Group to join Shawbrook in …

Buy-to-let (BTL) lender Landbay has joined White Rose’s panel of lenders, giving White Rose representatives access to Landbay’s range of BTL mortgage products. White Rose is a Yorkshire-based finance broker that offers investors and new owners a ‘complete route’ to BTL products. Its members will now have access to Landbay’s product lines, including its green …

The Mortgage Advisory Bureau (MAB) is integrating the full range of LV= Flexible Protection Plan products into its Protection Panel from April. MAB Advisors previously had access to LV= Income Protection Plans, but will soon be able to select LV= Life Insurance and the LV= Life and Critical Illness Combination Coverage range individually or as …

BuildLoan has launched a new range of products with the Darlington Building Society, offering mortgages of up to £1.5m on self-built homes. The bespoke mortgage distributor says the partnership will offer clients who want to build their own property, either independently or on one of the many self-build sites, up to 85% of their project …

According to a TAB survey, nearly half of brokers working in the specialty lending market say that development finance is now more active than the bridge loan market. The short-term property finance lender says 46% of advisers said the development finance market was ‘hotter’, 38% thought the bridging loan market was busier, while 15% said …

Trying to come up with market forecasts over the past two years has been a bit of a guessing game. However, with almost all restrictions lifted and after 12 months of strong loans in the specialist financial market in 2021, I think we can feel a little more confident for 2022. Although gross lending in …

The UK branch of investment fund Elliot Advisers has taken a majority stake in specialist lender Enra Specialist Finance for an undisclosed sum. Elliott acquired its share of the business from management of the lender and Exponent Private Equity, which has owned Enra for five years but will now exit the business altogether. The lender …

Tomorrow (March 17), the Bank of England (BoE) is expected to raise rates again to curb continuing rising inflation. It will be the second rate hike in two months since the central bank’s Monetary Policy Committee voted 5-4 in favor of raising the interest rate from 0.25% to 0.50 %. With another hike expected tomorrow, …

Eight in 10 consumers are worried about the rising cost of living over the next six months, according to a new YouGov poll. This national survey found that 39% were ‘very worried’ about the cost of living squeeze, with a further 45% describing themselves as ‘quite worried’. The findings come ahead of the Chancellor’s spring …

According to the latest data, the number of elderly owners using the release of equity to finance their holidays has tripled. Data from Legal and General Home Finance shows that 20% of withdrawing customers used these funds to travel in the first two months of 2022. This compares to just 7% in the same period …

Molo Finance enters the residential mortgage market after securing a financing agreement with pension insurer Rothesay. The digital mortgage platform has been offering buy-to-let (BTL) products since 2018, with the new deal allowing the company to enter the residential market. Molo does this with its “FlexLife Mortgage” range, with fixed interest rates available over terms …

Specialist lender LiveMore has expanded its operations in Scotland. The lender offers borrowers over the age of 50 retirement interest-only and term interest-only products on terms ranging from five to 30 years and up to 75% LTV. He says the Scottish market is “largely underserved” by big banks and his move to Scotland will open …

Removing stamp duty on the purchase of new homes for rent could create a £10 billion benefit for the government, according to the National Residential Landlords Association (NRLA). The NRLA bases its call to action on research it commissioned from Capital Economics. This work predicts that removing the 3% tax would mean that nearly 900,000 …

We entered 2021 with high hopes for a much better year than 2020. After another 12 turbulent months, however, we welcomed 2022 with cautious optimism, particularly in the housing market, which has seen unprecedented activity due to of the pandemic. A relatively slow January with a return to pre-Covid transaction levels was fleeting. February saw …

The financial consequences of Covid may have pushed back the average age of a first time buyer (FTB) by nearly two years, according to calculations by GetAgent.co.uk. The firm argues that with an average gross salary standing at just over £31,000, anyone who joined the government furlough scheme during Covid will have retained an income …

Panel members Jeni Browne, Sales Manager, Commercial MortgagesSteve Walker, buy-to-let and residential specialist at The Buy To Let BrokerGreg Cunnington, Director of Lender Relations and New Homes, Alexander HallTony Field, Sales Manager, DynamoMark Pattanshetti, Associate Director, Largemortgageloans.comDavid HollingworthAssociate Director of Communications, London & CountryMatt Tilbury, Senior Mortgage and Protection Advisor, Just MortgagesAaron Strutt, Chief Product …

Real estate group Mortgage & Surveying Services has announced that it has purchased “a significant stake” in specialist mortgage network Connect IFA for an undisclosed amount. Connect says the investment will strengthen its “financial strength and give it the ability to make further developments to its proposition as it continues to grow its presence in …

Shutterstock / IR Stone Every real estate market has its winners and losers, and as housing shortages continue to prevail, the transitional sector finds itself in an advantageous position. Whether buyers are looking to restore a broken real estate chain or do a quick renovation, many are using bridging to gain the upper hand. “It’s …

Buy-to-let landlords must be included in government plans to make housing companies and their suppliers pay for the removal of hazardous coatings, MPs say. “The Secretary of State [for Levelling Up, Housing and Communities, Michael Gove] said the government would protect leaseholders from remediation costs, but too many tenants will fall through the cracks of …

Pepper Money has launched a range of limited edition home mortgages with reduced fees and £500 cash back. The specialty lender says loans are available on its Pepper 48 and Pepper 48 Light Residential range for purchase and remortgage. The range is suitable for customers who do not have hannounces a county court judgment ohra …

The Buckinghamshire Building Society has launched a new five-year fixed rate remortgage contract. The product offers borrowers the opportunity to consolidate debt, raise capital for home renovations, or simply remortgage their existing home loan. The product charges a rate of 2.05% until May 31, 2027, with a product fee of £495. It is available up …

In late February, the Bank of England’s (BoE) Financial Policy Committee (FPC) released its promised consultation on plans to scrap the mortgage affordability test, one of two recommendations first introduced. in 2014. These recommendations include the loan-income stream limit (LTI), which limits the number of mortgages that can be loaned at an LTI ratio greater …

Quantum Mortgages, which confirmed its launch plans late last year, has released details of its green mortgages. The buy-to-let (BTL) specialist says that for properties with an Energy Performance Certificate (EPC) rating of A or B, borrowers will benefit from a reduced completion fee and pay rate. Additionally, the maximum LTV will be increased by …

Mortgage rates have risen rapidly since bottoming out in October last year, according to analysis by L&C. The study shows that the average of the 2-year fixed rate products of the 10 major lenders has climbed by 1% since October and the 5-year rates by 0.92%. The same two-year mortgage would cost more than £800 …

Pam Brown, the managing partner of Pam Brown Mortgages, recalls attending an event in Santander for the UK’s top mortgage brokers 20 years ago, where the organizer shook hands with his husband and said, “Thank you for your business. Since then, the mortgage industry has made great strides toward diversity, according to Brown, although at …

The number of first-time buyers (FTB) in the UK doubled in 2021, with volumes up 98% on 2020, according to Barclays Mortgages’ first-time buyers index. According to the index, FTBs paid an average of £281,000 in 2021 to access the property ladder, a decrease of £12,600 from 2020, although this figure is higher than the …

Newcastle Intermediaries, the brokerage business of Newcastle Building Society, is launching a range of mortgage products for self-employed customers with at least one year of financial accounts. To access the products, borrowers must have been trading for a maximum of two years and have at least one year of available financial records. Two-year 2.55% fixed …

Swansea Building Society has launched a new ‘green’ mortgage, available only on properties that have an Energy Performance Certificate (EPC) rating of A or B. The Company says it wants to reward homeowners who buy more energy-efficient homes, with a lower interest rate than its line of standard residential mortgages. There are a range of …

Kensington Mortgages has doubled its secured funding lines to £2.6billion, which it says will support its owner-occupied property lending and buy-to-let business. The specialist lender has secured funding from Lloyds Bank, BNP Paribas, National Australia Bank and Bank of America, boosting its resources by £1.3bn. The new cash consists of an £800million increase to its …

Vacancies fell across England in February according to Goodlord, although this increase in rental activity has yet to boost rents which have fallen throughout the month. Real estate technology firm Goodlord attributed the drop in vacancies to continued strong demand for rental properties. This has yet to produce a price increase, with rents falling by …

The LMS Remortgage Healthcheck Index hit its second-highest reading for the fourth quarter of 2021, after rising 2.6 points on faster growth in average approval values. The index, produced in partnership with CEBR, shows that the overall health check index reached 70.1. This was mainly due to a 5.7 point increase in the borrowing costs …

Foreign owners of UK property will be required to register their real identities in the new economic crime bill which the government has fast-tracked following the Russian invasion of Ukraine. The aim is to prevent foreign owners from laundering “dirty money” through British ownership and to increase the number of Unexplained Wealth Orders (UWOs) issued …

According to research by Bluestone Mortgages, more than a quarter of self-employed people in the UK are considering quitting and returning to regular employment. More than a third (37%) of self-employed people admitted that their situation had deteriorated since the pandemic, with 28% considering giving up self-employment. People between the ages of 18 and 34 …

Pepper Money is now offering its customers free advice on energy efficiency. This consists of carrying out an energy efficiency study on the client’s property, providing an energy performance certificate (EPC) and detailing an action plan to make their property more energy efficient. Pepper says that if the action plan requires funding for improvements, the …

Net mortgage borrowing has fallen from £4bn in December 2021 to £5.9bn in January this year, according to new figures from the Bank of England (BoE). This figure, according to the BoE, is higher than the pre-pandemic average of £4.3 billion in the 12 months to February 2020. Gross lending also increased from £22bn to …

According to Legal & General Mortgage Club (L&G MC), advisor searches for lenders willing to accept borrowers in default increased 157% in January, as did options suitable for arrears and missed mortgage payments, which respectively increased 77% and 90%. The findings come as the UK’s cost of living crisis continues to bite. Searches for customers …

BuildLoan and Nottingham Building Society (BS) have launched three ‘cost-based’ mortgage products for people building their own homes. The products offer up to £600,000 and 80% of a client’s construction costs, with interest payments taking effect once construction has started. The first product has an initial rate of 3.8% for two years and a completion …

Most brokers struggle to find loans for new homeowners, according to data from Mercantile Trust. Broker buy-to-let and bridge lender says 55% of intermediaries regularly experience difficulties when trying to find financing for new BTL customers, following an online survey. He adds that half of advisors had similar problems obtaining loans for BTL clients with …

According to Bluestone Mortgages, about 42% of people generally underserved by lenders don’t even apply for a mortgage, despite describing their situation as financially secure. The report finds that among those often underserved in the mortgage market – the self-employed, those with poor credit history or none – around 26% have not tried buying a …

Just Mortgages has entered the equity release advice market. The broker has trained 13 qualified and licensed independent advisers to offer advice on stock release products. The new proposal follows a successful trial, and Just Mortgages will offer an intensive academy for independent brokers who wish to advise on equity release. The training was also …

Foundation Home Loans has launched an exclusive buy-to-let range for expatriate homeowners. The broker-only lender says its Foundation’s Expat products are available to non-sspecial purpose vehicle sole proprietors who are UK nationals living as expatriates, as well as borrowers from limited liability companies. The range covers standard BTL, short-term rentals, multi-occupancy homes and green options …

Over 50-year-old mortgage lender LiveMore Capital has secured a £275m funding line with NatWest Markets. The funding will facilitate the growth of LiveMore’s portfolio and the origination of loans for interest-only mortgage products. The lender says it is now able to reinvent end-of-life mortgages and “mobilize the entire financial services industry towards fairer and more …

The government’s plans to solve the siding scandal penalize small rental landlords and are based on “lazy and false assumptions” according to critics from the National Residential Landlords Association. The reprimand follows comments by Housing Secretary Michael Gove to the Select Committee on Upgrading, Housing and Communities. Gove has confirmed that landlords who let more …

The Suffolk Building Society has launched new two and five year 95% LTV patches. The products, aimed primarily at the first-time buyer market, will also include independent candidates and those looking to buy a new home. The rate on the two-year contract is 3.25%, fixed until April 30, 2024. After this period, the rate reverts …

Shutterstock/Photobank.Kiev.UA Many buy-to-let (BTL) professionals are optimistic about the market outlook after a strong 2021. Mortgage strategy cited good mortgage availability, easing criteria and low rates as reasons for their optimistic outlook. This positivity is despite tougher tax conditions for homeowners and the threat of additional costs to improve the energy efficiency of homes, which, …

February saw the largest monthly increase in house prices – in cash terms – according to the latest Rightmove property index. According to this property index, asking prices in February hit a record high of £348,804, an increase of £7,785, or 2.3% from the previous month. Asking prices are now 9.4% higher than a year …

The highest annual volume and value of mortgage loans to borrowers aged over 55 since 2014 occurred last year, according to UK Finance’s latest quarterly end-of-life mortgage report. The report says there were 187,120 new mortgages to borrowers aged 55 and over taken out in 2021, totaling £28.1bn over the year. This represents an 11% …

According to Canada Life, about one-third of over-55s with private pension plans plan to free up equity in their primary residence to help fund their retirement. The financial services giant says its survey shows 30% of this near-retirement group plan to use their homes to provide cash once they stop working. He adds that over-55s …

Santander says its mortgage customers have overpaid £335million on their mortgages so far this year, or more than £47.5million a week. The bank points out that these overpayments, which are 50% higher than overpayments made at the same time last year, can have “a significant impact” on the interest that owners pay throughout the term. …

After a frenetic year that consistently exceeded expectations, it’s invigorating to look at 2022 with fresh eyes and assess what the market should be preparing for in the months ahead. Last year was characterized by a surge in sales fueled by the stamp duty holiday and second home buyers. Naturally, this has led to a …

Atom Bank has launched several exclusive two-year fixed rate quasi-premium product offers for Sesame Network advisors. The app-only lender indicates that the products are available in different LTV ranges, such as a 75% LTV option with a rate of 2.89% or a 70% LTV product with a rate of 2 .74%. He adds that customers …

Paragon Bank has doubled the period that buy-to-let customers can lock in a mortgage rate from three months to six months. It says it will offer brokers a 0.30% proxy fee for each product change they present to the lender. The company sells a range of two- and five-year fixed rate products aimed at those …

A total of 6,535 properties were bought with the new government help to buy a mortgage guarantee scheme between April and September this year. The latest data — covering the period from the launch of the program on April 19 to the end of September — shows that 84% of these mortgages were taken out …

Bob Young, Managing Director of Fleet Mortgages has announced that he will be retiring in April. Young and his management team launched Fleet Mortgages, a buy-to-let specialist, in 2014. He will be replaced by Mike Lane, currently Chief Operating Officer of Fleet. Lane has been with Fleet since 2014 and was part of the management …

Atom Bank has raised over £75m in funding as it plans to float. The funding led by BBVA and Toscafund with co-investors Infinity Investment Partners follows a £40m raise in April 2021 and brings the total raised by the app-based bank in the last 12 months to 115 million pounds. The digital bank says its …

Inflation measured by the consumer price index (CPI) increased slightly in January, from 5.4% in December 2021 to 5.5%. This set a record 12-month inflation rate since records began in 1997 for the second consecutive time and, extrapolating backwards from there, it is the highest reading since March 1992, when inflation reached 7.1%. Earlier this …

More than half – 52% – of mortgages in 2021 were on a five-year solution, LMS’ annual mortgage report shows. Meanwhile, 37% of mortgages taken out were of the two-year type and only 2% at a 10-year fixed rate. Overall, mortgage activity increased in 2021, “with a steady increase in instruction and completion volumes following …

Affinity Mortgages will now be able to offer Proportunity equity loans to its clients, following the lender’s addition to Proportunity’s panel of brokers. The loans, which help people with limited capital to move up the property ladder, are available to first-time buyers and existing homeowners. Loans are made through brokers only, up to a value …

The mortgage lender (TML) reduced the number of tiers for its residential products to four and removed its underwriting cascade for potential borrowers with unsecured arrears. According to the lender, this will make it easier for brokers to place cases for customers with credit issues. In the residential range, up to 75% LTV, rates now …

Australian fintech PEXA is launching into the UK property market this year, with a solution originally designed for the country’s mortgage industry. The solution will focus on mortgages in England and Wales and aim to streamline the process for mortgage lenders, solicitors and transfer agents. The company said it was aiming to drastically reduce the …

Without wanting to sound like a broken record, 2021 has been another year of uncertainty for all of us, owners included. However, amidst the closures and the alarming rate of inflation, there was something to celebrate for real estate investors! Helped in part by demand initially sparked by the stamp duty holiday, house prices have …

Landlords are buying greener properties before the government legislates in this area, meaning tenants can pay lower utility bills than owner-occupiers, saving up to £844m a year, according to Hamptons. The real estate agent says that so far this year, the share of homes bought by investors with an A to C energy performance certificate …

With vulnerability on the agenda more than ever – particularly in light of the impact of the pandemic on financial security – advisors across the UK are paying even greater attention to how they identify and manage customer vulnerability. As part of our commitment to supporting the financial advice market, more2life launched its latest annual …

Halifax Intermediaries will make price changes to select products for first-time buyers and movers, including affordable housing – share shares and condominiums, on Monday, February 14. The broker-only subsidiary says the move will cut rates by up to 34 basis points on certain fixed-rate products from 85-90% to two-year fixed and five-year fixed-rate offerings from …

Shutterstock/Anna evlanova.ru The real estate market exploded last year, including the buy-to-let (BTL) sector. According to UK Finance, BTL buying activity grew to £18 billion in 2021, a colossal 83% increase on activity in 2020. Meanwhile, Shawbrook Bank’s 2021 Buy-to-Let report found that the value of the private rental sector grew by 5.8% in 2021, …

Shutterstock/Kletr April 2025 may seem like a long way off, but this date should stick in the minds of homeowners who own energy-intensive properties. In three years, the government hopes to bid farewell to the multitude of drafty and neglected properties that plague some corners of the private rental sector. It plans to make it …

Rising cost of living, chronic housing shortages and rising inflation were highlighted as key challenges for mortgage brokers in 2022. House prices are at record highs and mortgage affordability is tightening due to inflation and the looming threat of interest rate hikes. Energy price spikes also put overwhelming pressure on the cost of living for …

Aggregator Pivotal Growth has expanded its portfolio with the acquisition of Barn Protection and Mortgage Services. Barn is a brokerage specializing in new home loans, based in Northampton. He has been in business for 15 years. Pivotal Growth was formed in April last year, as a joint venture between LSL Property Services and Pollen Street …

The mortgage lender cut rates on its buy-to-let range and launched a new product. The company has announced that it has priced its five-year 75% fixed loan to value cash back and fee assisted products, with rates now starting at 3.33% for standard properties and 3.45% for multiple occupancy homes. Both offers come with a …

Jon Cooper, Head of Mortgage Distribution, Aldermore Owners are experts at dealing with change. They’ve had a lot of practice over the past 10 years. But the next hurdle is high. Minimum energy efficiency standards are set to tighten considerably in just three years if the government’s proposals come to fruition. And properties that aren’t …