Average fixed rate mortgage prices fell across the board this week following last week’s base rate cut. The average two-year fix fell 0.02% to hit 4.98%, falling below 5% for the first time since the notorious Truss mini budget in 2022. Three-year and five-year fixes… The post Average fixes fall as two-year deals hit 4.98%: Moneyfacts appeared first on Mortgage Strategy.
Inflation is expected to hit 3.8% when official data is released next week, according to a Deutsche Bank forecast. This means the cost of living is forecast to lift 20 basis points in the year to July, from 3.6% in June, driven by a… The post Inflation preview: Cost of living heads into ‘uncomfortable territory’ appeared first on Mortgage Strategy.
The Co-operative Bank for Intermediaries has introduced sub-4% fixed-rate loans, while Metro Bank has refreshed its near prime residential range. Highlights among the lender’s sub-4% deals are a two-year remortgage-only fixes at 3.85% at 60% loan to value, with a £999 fee. It also… The post Co-op launches sub-4% loans, Metro relaxes near prime lending rules appeared first on Mortgage Strategy.
Aegon has marked the first anniversary of its client reporting tool, ‘Product reporting’, with a series of strategic enhancements designed to further bolster adviser capabilities and client engagement. The upgrades, applied to the Aegon Retirement Choices (ARC) and One Retirement platforms, coincide with the findings… The post Aegon enhances client reporting tool appeared first on Mortgage Strategy.
Aviva said that its first-half equity release business jumped 42% driven by “higher market lending” and new product launches. The insurer added that its later life present value of new business premiums hit £162m in the six months to the end of June. “We… The post Aviva posts 42% equity release sales jump in H1 appeared first on Mortgage Strategy.
Royal London has announced enhancements to its principal equity release product. The updates include the introduction of a drawdown facility and a reduced early repayment charge (ERC) period from ten to seven years. According to Royal London, with the new drawdown capability clients will have… The post Royal London boosts equity release offering appeared first on Mortgage Strategy.
Kuflink launched its own inhouse legal department as part of working towards an integrated service for introducers and their clients. The company says setting up an internal legal function will significantly enhance its operational speed, legal oversight and consequently its ability to execute deals faster.… The post Kuflink launches inhouse legal department appeared first on Mortgage Strategy.
Mortgage arrears fell 3% in the second quarter of this year, while possessions rose marginally. The latest figures from UK Finance found homeowner mortgage arrears of 2.5% or more of the outstanding balance stood at 87,380 in the second quarter. Of these, there were 29,840… The post Mortgage arrears fall 3% as possessions rise slowly appeared first on Mortgage Strategy.
The UK economy grew by a greater-than-expected 0.3% between April and June, albeit below a 0.7% rise in the first three months of the year — but this mixed picture may allow mortgage lenders to continue to lower prices. Britain’s second-quarter gross domestic product… The post UK economy posts surprise 0.3% growth in Q2 appeared first on Mortgage Strategy.
Redwood Bank has made changes to help landlords of houses of multiple occupancy (HMOs) who are struggling with rising costs and tighter margins. These include changes to costs to help release an additional £40,000, a 6% increase in loan-to-value (LTV) for refinancing a buy-to-let (BTL)… The post Redwood Bank provides landlords with HMO lending boost appeared first on Mortgage Strategy.
