Day: June 3, 2025

Hinckley & Rugby Building Society says it has become the first UK lender to complete a mortgage using PEXA. The transaction took place as part of the testing of PEXA’s sale & purchase proposition ahead of its full launch and wider market roll out later this year. As part of the deal, law firm Muve acted as the conveyancer within the PEXA workspace for both the purchaser and lender. The transaction used PEXA’s payment scheme to enable the settlement of funds from the incoming lender’s account to the seller’s conveyancers verified account with successful lodgment of title with HM Land Registry to complete the transaction. The test transaction did not require the purchaser to introduce additional funds. PEXA UK chief executive officer Joe Pepper says: “Our mission has always been to help transform the property market for the benefit of consumers, lenders and conveyancers. Today’s completion of the UK’s first digital purchase transaction is a landmark achievement in this journey.” “By leveraging our platform and PEXA Pay scheme, we have demonstrated how technology can simplify and expedite what has traditionally been a complex and time-consuming process.” Hinckley & Rugby Building Society head of sales and distribution Laura Sneddon adds: “We are always eager to embrace innovation and work with partners who share our vision for a more efficient and modernised property market.” “PEXA’s fully digital Sale & Purchase platform represents a significant step forward in streamlining the mortgage and completion process, and we are proud to have been the first UK lender to complete a transaction using this ground breaking technology.” In April, PEXA received approval from the FCA to become an authorised payment institution (API). The post PEXA completes full digital home sale with Hinckley & Rugby appeared first on Mortgage Strategy.

Halifax will lift selected fixed-rate residential loans by up to 16 basis points tomorrow, while Market Financial Solutions reduces rates across its bridging range.   The high street lender will raise some two-, three- and five-year remortgage fixes by as much as 16bps, it says in a broker note, without giving further details.  It adds that two- and five-year product transfer and further advance fixes will rise by up to 15bps.  The firm says to secure existing prices, brokers should submit applications in full by 8pm tonight.  Meanwhile, Market Financial Solutions says its residential single bridging fixes are available from 0.70%.   The specialist lender adds that rates across portfolio loans, second charge, light development, semi-commercial, commercial, and development exit products have been cut.  Market Financial Solutions chief executive Paresh Raja says: “The property market has enjoyed a productive first five months of the year, with multiple house price indices showing consistent growth.   “With the Bank of England expected to reduce the base rate further in 2025, we’re preparing for increased demand among investors, so now feels like the right time to cut rates and maintain momentum.”  The post Halifax lifts rates by up to 16bps, Market Financial Solutions reduces loans   appeared first on Mortgage Strategy.

HouzeCheck has appointed Kasia Suchacka as head of finance. Suchacka joins from Redkite Data Intelligence, where she was head of financial control. Previously, she worked at healthcare technology provider RLDatix. In her new role, Suchacka will be responsible for developing and implementing financial strategies as part of the company’s expansion plans. This includes overseeing budgeting, forecasting, and long-term financial planning. She will also act as a strategic adviser to the chief executive and the HouzeCheck board and will lead and mentor the finance team. Suchacka will report to HouzeCheck chief executive officer and founder Amit Bansal. Bansal says: “Kasia is a fantastic addition to our executive team. She is a dynamic and proven strategic leader. Her expertise will be instrumental as we scale our operations, investing in cutting-edge technologies, and continue to deliver unparalleled value to our clients and stakeholders.” HouzeCheck has also appointed Jack Taylor as its new marketing manager. In April, HouzeCheck confirmed it had secured investment from London-based private equity specialist Beach Equity Investments. The post HouzeCheck appoints Suchacka as head of finance appeared first on Mortgage Strategy.

Furness Building Society has promoted Simon Broadley from chief commercial officer to chief executive officer. Broadley was appointed as chief commercial officer in 2022 with a remit to oversee and manage the society’s commercial operations. He has more than 20 years of experience in the financial services sector, predominantly in the mutual sector. Previously, he has held senior leadership roles with Yorkshire Building Society and Tenet & You and was a non-executive director for Leeds City Credit Union where he provided strategic leadership and guidance. Broadley takes the mantle from former CEO Chris Harrison, who leaves the role to take retirement. Harrison led the society for over eight years, having joined from insurance giant, Assurant Europe. Harrison says: “It’s been a privilege to guide Furness for the past eight years and be part of a team of incredibly talented people who have transformed the organisation into a modern-day building society for the future.” “I’m personally delighted that Simon will drive the next phase of development. He will be an excellent leader for our people and will ensure a positive outlook for our members and communities.” Broadley adds: “I’m very proud to take the position of CEO at Furness Building Society, having been part of the leadership team for nearly three years. During this time we’ve continued to evolve as a building society that always puts people first, which is reflected in our approach to mortgage underwriting and means we’ve helped countless people secure mortgages when other lenders were unable to do so.” “Working with Chris Harrison has been the best grounding to succeed him as CEO, and I wish him well in his retirement.” Last month, the society announced the appointment of Helen Thistlethwaite as business development manager within the intermediaries mortgage team. The post Furness BS appoints Broadley as CEO appeared first on Mortgage Strategy.

Redwood Bank has appointed Stuart Davidson as its new chief commercial officer. Davidson, who joined Redwood in 2018, just months after its launch, has more than 35 years of financial services experience. He spent two decades in senior roles at Lloyds Banking Group before holding roles across a number of challenger banks. At Redwood, he was most recently director of products and strategy. As CCO, Davidson will lead efforts to expand the specialist bank’s lending book and evolve its overall product proposition. He takes on the CCO role at a time when professional landlords are seeking surety from lenders to expand and diversify portfolios and business savers are navigating changes in interest rates. Davidson commented: “The past few years have been marked by changes in regulation, economic instability and frequent base rate changes. “These factors have made planning more difficult across the sector, particularly for business banks. But they’ve also reinforced the importance of agility, strong partnerships and staying close to the needs of our brokers and customers.” The post Redwood Bank appoints Davidson as CCO appeared first on Mortgage Strategy.