The gender pay gap has never been more in the spotlight, with the financial services sector one of the worst offenders. The mortgage market is no exception. At least, that is the case for most mortgage lenders, which are required to report this information due… The post Cover feature: Pay slip – exploring the gender pay gap appeared first on Mortgage Strategy.
July 2023 marks the second anniversary of Consumer Duty, the FCA’s tentpole regulation designed to set higher standards for financial services and drive better customer outcomes. Two years on, some firms have seized the opportunity to stay closer to clients and made good progress in… The post Blog: Consumer Duty two years on – are we closer to the change regulator wants to see? appeared first on Mortgage Strategy.
Raising borrowers’ mortgage loan-to-income limits without the UK boosting its housing supply risks raising house prices, warns the governor of the Bank of England. “I think this is very important. We have said for a long time that the major constraint in our view… The post Looser LTI limits without higher homes supply risks house prices: BoE Bailey appeared first on Mortgage Strategy.
The Equity Release Council is set to launch a practitioner toolkit in November this year, which is designed to embed vulnerability best practice across the distribution chain. The document will feature structured specific guidance for a range of vulnerable circumstances, adviser prompts and real-life scenarios.… The post ERC set to launch practitioner toolkit for vulnerability best practices appeared first on Mortgage Strategy.
Suffolk Building Society has joined Mortgage Broker Tools’ platform, marking the mutual’s inclusion on almost every sourcing system on the market. The move adds the full range of the lender’s products across the member’s hub, which passed two million affordability searches in April after… The post Suffolk BS joins Mortgage Broker Tools platform appeared first on Mortgage Strategy.
Borrowers will be able to remortgage their homes without seeking advice from a broker, saving them “time and money,” says the Financial Conduct Authority under changes confirmed today. The move, which could lead to as much as £100m in lost broker fees, is part… The post FCA guidance opens door to more execution-only home loans appeared first on Mortgage Strategy.
Atom bank has reduced rates by 0.25% across its fixed rate standard commercial mortgage range, effective immediately. Rates for new applications on commercial investment cases now start at 5.88%, while for commercial owner-occupied cases, rates begin at 5.68%, based on cases at 45% LTV or… The post Atom bank cuts commercial rates by 25bps appeared first on Mortgage Strategy.
Vida has launched an AI-driven chatbot, which the specialist lender will “transform how brokers access lending criteria and product information”. The business says its Mobi — short for Mortgage Bot Intelligence — provides “instant, helpful answers to brokers’ most common questions” 24 hours a… The post Vida debuts broker AI criteria chatbox appeared first on Mortgage Strategy.
Ecology Building Society has launched a renovation mortgage for owners and buyers who want to cut their home’s carbon footprint. The new product is available up to 80% loan-to-value (LTV) at a variable rate of 5.29%. The society says the mortgage rate can by lowered… The post Ecology BS launches new renovation mortgage product appeared first on Mortgage Strategy.
The Mortgage Store has appointed Mat Garner as chief executive of the broker business. The firm, founded over two decades ago, says Garner will lead its UK expansion as it focuses on boosting its technology services to improve customer journeys. Garner says: “There’s real… The post The Mortgage Store appoints Garner as CEO appeared first on Mortgage Strategy.
