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Here is today's latest news from the world of mortgages and introducers. Join the debate by leaving a comment below a story. Remember, you will need to be logged-in to do this.

Breaking News

Outrage at “shameful” Halifax move to cut maximum age on some products

There’s been an angry reaction to news that from today - March 18 - Halifax is changing the maximum age allowed for some customers. The lender says...

Mortgage shelf-life plummets and lenders hike rate

The average shelf-life of a mortgage product is just 15 days, with lenders increasing fixed rates, says Moneyfacts. Average mortgage rates on the overall two- and five-year...

Analysts unsure whether RICS housing market optimism is justified

The latest housing market snapshot from the Royal Institution of Chartered Surveyors shows the number of buyers has risen for the second consecutive month, after an...

Fintech renews long term link with Legal & General Mortgage Club

Mortgage and protection CRM platform Smartr365 has renewed its longstanding partnership with Legal & General Mortgage Club. The agreement means members of Legal & General Mortgage Club...

Many landlords to end fixed-rate deals soon, says lender

Some 40% of residential landlords with a mortgage - fixed, tracker or discount - are due to renew their mortgage rate in the next seven months...

Cambridge enhances buy to let criteria with re-introduction of top slicing

The Cambridge Building Society has re-introduced top slicing on its standard Buy to Let range up to 80 per cent LTV. This announcement from The Cambridge enables...

Kensington reduces rates and fees on selected products

Kensington Mortgages has lowered rates and reduced arrangement fees across selected 90 and 95 per cent Loan To Value products. For its 90% LTV products, Kensington has...

New analysis shows link between rates and longer mortgage terms

The ‘average’ 25 year mortgage term is increasingly becoming a thing of the past says USwitch. A recent study of the data from mortgage broker technology site...

Housing market buoyancy shows mortgage costs not a deterrent

New data from Zoopla suggests that the housing market is becoming buoyant despite widespread uncertainty over the exact direction of mortgage costs. The portal’s latest housing market...

Brokerage survey gives surprise result for first time buyers’ affordability

A new study has revealed the best and worst UK regions for first-time buyers based on house affordability and earning potential.  The study, conducted by free mortgage...

Nationwide’s bold move will make it even bigger mortgage lender

The Nationwide Building Society has agreed to buy Virgin Money in a £2.9 billion deal - a rare example of a mutual taking over a listed...

Tech-boost for Dutch-style mortgage provider entering the market

April Mortgages has struck a deal for new technology to help it introduce Dutch-style loans into the UK. The new mortgage type will launch in April and...

Foundation Home Loans targets first time landlords

Foundation Home Loans has launched two HMO products for first-time landlords under its ‘Buy to Let by Foundation’ wrapper. Both are available up to 75 per cent...

Dip in demand for new builds as interest rates keep buyers at bay

Homebuyer appetites for new-build properties have dipped. Demand dropped 1.1 per cent in the last quarter according to analysis by easyMoney of activity in 20 UK cities. Figures...

IMLA accuses Hunt of “sop” in Budget that does nothing for rental sector

The Intermediary Mortgage Lenders Association has given the thumbs down to the Budget of Chancellor Jeremy Hunt. The trade body was disappointed by Hubt’s announcements on Capital...

Budget Day - Rightmove pours cold water on 99% mortgage idea

Rightmove says the housing market needs a more innovative mortgage initiative than the 99 per cent idea floated by the government. The Financial Times and the Independent...

Agents impatient with mortgage lenders despite better news on sales

The estate agents’ trade body has made the unexpected move of calling on banks to cut mortgage rates. Rates are typically decided by market forces rather than...

Building society bans mortgages on holiday let properties

A building society has launched a pilot project banning mortgage lending on holiday lets in two tourist areas for 12 months. Leeds Building Society will not lend...

Just Mortgages reports soaring interest in emerging new build sector

Shared ownership has given the new-build division at national brokerage Just Mortgages a bumper start to 2024. New build leads and enquiries are up 40 per cent...

Brokers’ amazing work honoured by bank’s CEO at awards event

The chief executive of a specialist business bank has paid tribute to the ‘amazing work’ carried out by its broker network. Gary Wilkinson, chief executive and co-founder...

Experts slam lenders for ultra-short notice repricing of mortgage products

Experts have lashed out at lenders who reprice products, sometimes with just a few hours’ notice. And many suggest that lenders are falling short of fulfilling the...

Was Halifax rate reduction just a cynical marketing ploy?

Last week Halifax - previously an outlier amongst major lenders - announced it was raising rates, following the likes of Santander, HSBC, Virgin Money and TSB. Some...

BTL fixed rates plummet as product choice rises again

The buy to let mortgage sector has seen fixed rates fall to their lowest point since September 2022, according to analysis by Moneyfactscompare.   Average fixed rates have...

Innovative new trackers aim at buy to let and development investors

Hampshire Trust Bank has launched a limited edition two year discounted Flex tracker across its buy to let and semi-commercial offerings.    Flex offers all the benefits...

Hodge announces changes to 50+, Retirement and Holiday Let products

Hodge has made significant changes to its 50+, Retirement Interest Only (RIO) and Holiday Let Mortgage property criteria. The updates include the provision of loans on flat...

FCA launches working group to probe interest-only mortgages

The Financial Conduct Authority is working with 12 lenders and administrators to probe the interest-only mortgage market. The number of IO and part-and-part mortgages, as at the...

Lender says first time buyers lean heavily on families to bag first mortgage

A survey of 2,000 adults by lender Together sheds light on parental help for first time buyers. It shows that a fifth of millennials had to ask...

Downsizers can unlock housing market and upsize their retirement plans

Downsizers across England and Wales could unlock an average £305,090 by moving from a four bed to a two bed home, according to the latest analysis...

Financial Crime attempts target high numbers of regulated firms

Some 42 per cent of regulated firms are reporting a rise in financial crime attempts, while more than a quarter say they have been a victim,...

Most activity down to remortgagers not buyers - analysis

Remortgagers, not buyers, are fuelling the increase in mortgage industry activity. That’s the view of Octane Capital following an analysis of Bank of England mortgage approvals data. The...

Halifax throws “a massive mortgage curveball” defying rivals

Halifax moved entirely in the opposite direction to its rivals at the very end of last week, cutting rates instead of hiking them. The reduced rates on...

Most Rates Up Again - optimism plummets amongst brokers and analysts

It’s been a torrid time for rates, going back up for HSBC, Santander, TSB, Virgin Money, NatWest and many other mainstream and specialist lenders. Only the...

Stamp Duty’s damage to borrowers exposed by building society

The true cost of stamp duty is two thirds greater than the tax itself because it obliges buyers to spend far more than they realise.  A new...

Agency recruits mortgage heavyweight to lead financial services surge

Tom Davies has started with Leaders Romans Group as the company’s first group financial services managing director. This new position coincides with LRG’s rapid growth, both organically...

Mortgage volumes plummet for older borrowers

There were 29,060 new mortgages taken out by older borrowers over 55 in the last three months of 2023 - down 37.1 per cent in a...

Coupling Up - why so many mortgage applicants are duos

A property agency has analysed the lending and housing markets to work out why so many mortgage applicants are couples. Benham and Reeves analysed current house price...

Rent To Home initiative aims to woo local first time buyers

A unique system of returning rent to tenants to allow them to save for a deposit on a property has been resuscitated by a building society. The...

Surge in interest in Energy Efficient Homes - study’s claim

There’s been a surge in enthusiasm for energy efficient homes according to research from heat pump advocates OVO. It says that a survey shows 66 per cent of...

Worst Case Scenario - mortgage costs up hundreds per year

A specialist lender claims that first-time buyers could see annual mortgage costs climb by £398 per year, while landlords suffer a £367 year-on-year jump. Octane Capital analysed...

Will stable inflation prompt a rate cut? Or will the Bank stick?

Diverse views have emerged from financial services figures in response to last week’s news that the headline rate of inflation remained at 4.0 per cent. According to...

NatWest rates up and plenty of others to follow - warning

NatWest has made changes to its product ranges for both new business and existing customers. New borrowers can expect a rate increase of up to 0.10 and...

Portfolio landlords eye capital raising to fund 2024 expansion plans

Nearly four in 10 portfolio landlords, those with four or more properties, plan to increase the size of their portfolios in 2024, Paragon Bank says. The majority...

Two year fixes fall by fastest rate since 2022 - Moneyfacts

Average mortgage rates on the overall two- and five-year fixed rate deals have now been falling for six consecutive months. The overall average two- and five-year fixed...

Specialist lender Cohort Capital hits bridging milestone

After reaching the milestone of £250m in 2022, specialist lender Cohort Capital increased originations by 60 per cent in 2023 to reach £400m of new bridge...

Higher LTVs for borrowers aged 70 and 80, says Pure Retirement

Lifetime mortgage lender Pure Retirement has continued its ongoing product development in its Heritage range. The Special 3 product will offer up to 40 per cent LTV...

It’s Back! Confidence returns to the mortgage market says IMLA

The latest Mortgage Market Tracker report from the Intermediary Mortgage Lenders Association reveals that confidence has returned to the mortgage market, with sentiment improving steadily month...

First Time Buyers aged 50-plus “one of fastest growing sectors”

There were 12,000 first time buyers over the age of 50 in the UK in 2022, the latest figures available. This means that the number of first time...

Virgin Money sees long-term mortgage improvements despite recent dip

High street bank Virgin Money UK says there is light at the end of the tunnel for mortgages and the housing market, despite a dip in...

UK Finance lobbies government for new Help To Buy and less Stamp Duty

Lenders’ trade body UK Finance wants the government to use next month’s Budget to announce a new Help to Buy scheme and higher property purchase limits...

Octane Capital issues a brutal warning on mortgage rates

By Jonathan Samuels, chief executive of specialist property lender Octane Capital, writes: The Bank of England’s decision to hold interest rates on three consecutive occasions in the...

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