The Mortgage Works has announced rate cuts on selected two and five-year fixed rate products across its mortgage range, effective tomorrow. Limited company buy-to-let (BTL) products will see reductions of up to 0.25%, while buy-to-let and let-to-buy products will see rate cuts of up to… The post The Mortgage Works cuts rates on two- and five-year fixes, Virgin ups prices appeared first on Mortgage Strategy.
When Open Banking launched in 2018, it was heralded as a ‘revolution’ – a gateway to smarter, more personalised products and services. Expectations were high. But several years on, it has, at best, underwhelmed. The technology promised transformation, yet uptake has been patchy – particularly… The post Blog: Looser regulation is one thing but lenders also need to step up appeared first on Mortgage Strategy.
A Court of Appeal ruling has confirmed that properties needing repair are still liable for residential rates of stamp duty tax, contrary to the claims of “rogue” agents. HM Revenue & Customs has warned home buyers to beware bogus claims from agents promoting schemes to… The post Court ruling closes bogus stamp duty loophole appeared first on Mortgage Strategy.
Sancus Lending UK has established a social housing division with the appointment of Alex Bodie as social housing director. Bodie joins with over 25 years of experience in financial services, including senior roles in consumer and corporate lending. He brings expertise in social housing and… The post Sancus Lending expands into social housing sector with Bodie appointment appeared first on Mortgage Strategy.
HSBC UK posted £2.6bn of new mortgage lending over the first six months of the year, as the bank said it saw higher home loan balances but was hit by “competitive mortgage pricing”. The UK arm of the international bank said its loans and… The post HSBC adds £2.6bn of new mortgage lending in H1 appeared first on Mortgage Strategy.
Leeds Building Society has announced that joint or single applicants earning £30,000 per year will now be able to apply for a mortgage at that income level. The reduction from £40,000 annual income comes after the lender was given permission by the Bank of England… The post Leeds BS lowers minimum income requirements to help FTBs appeared first on Mortgage Strategy.
LSL has hired Neil Hoare as sales director of its financial services division, which covers the property group’s mortgage and insurance networks. Hoare (pictured) will take up his post on 1 September from his current role as commercial director of HL Partnership, and will… The post LSL hires Hoare as financial services sales director appeared first on Mortgage Strategy.
Aldermore has appointed Steve Isaacs as business development manager for London and the South East. Isaacs’ appointment will help strengthen Aldermore’s commercial real estate division. He brings 20 years of experience to the role, from structuring real estate financing at BLME to shaping major housing… The post Aldermore hires Isaacs as BDM for London and South East appeared first on Mortgage Strategy.
The average two-year fixed rate home loan and the five-year rate have both hit 4.52%, data from Rightmove’s daily mortgage tracker shows. The last time both terms converged was in September 2022, before the Liz Truss mini-Budget. The current July two-year average rate of… The post Two- and five-year fixes converge for first time since Truss Budget appeared first on Mortgage Strategy.
Nationwide has reduced rates by as much as 0.21 percentage points, with the lowest rate now at 3.74%. Effective tomorrow, rates have been cut across two-, three- and five-year fixed products. For new customers moving home, Nationwide has reduced the two-year fixed rate at 60%… The post Nationwide cuts prices with lowest rate now at 3.74% appeared first on Mortgage Strategy.
