The Office for Budget Responsibility (OBR) chief Richard Hughes has resigned. Hughes’ resignation comes following the early release of the Autumn Budget last Wednesday. In his letter to the Chancellor Rachel Reeves, Hughes states the leak of the Budget was a “technical but serious error”.… The post OBR chief Richard Hughes resigns after Budget leak appeared first on Mortgage Strategy.
Octopus Capital has agreed a forward funding deal to support the delivery of 82 new affordable homes across Northam and Bideford in North Devon in partnership with Vistry. The investment for the homes has been made through the Octopus Affordable Housing Fund (OAHF), which invests… The post Octopus Capital and Vistry to deliver affordable homes in North Devon appeared first on Mortgage Strategy.
Mortgage and protection firm Vickers Young has joined Stonebridge. Founded in 2012 by managing director Corby Macdonald, the Leicestershire firm expanded from a sole adviser operation into a team of 12. Vickers Young says it plans to recruit up to 12 advisers each year and… The post Vickers Young joins Stonebridge appeared first on Mortgage Strategy.
Congratulations to all who attended the concert on 26 November in support of Every Youth, a charity dedicated to tackling teenage homelessness across London. The great and the good of the industry turned out in force, including Mortgage Force’s managing director Kevin Duffy who commented: “My… The post Esteemed names turn out for Take Me Home concert appeared first on Mortgage Strategy.
Bridging and commercial lender Recognise Bank has grown its loan book by over 30% during the financial year, to more than £400m. The latest figures show that the bank has also exceeded £500m in deposits for the first time. The bank also announced the opening… The post Recognise Bank grows loan book by 30%, opens new office appeared first on Mortgage Strategy.
This week’s top headlines: Landlords to pay more property income tax from 2027 and owners of properties worth more than £2 million will be hit by a new “mansion tax” that will net the government £400 million per year. Explore these and other major industry… The post Mortgage Strategy’s Top 10 Stories: 24 Nov to 28 Nov appeared first on Mortgage Strategy.
Average three-year fixed rates fell by 4 basis points over the past week, while two and five-year deals edged down by 1bp, the latest weekly analysis from Moneyfacts shows. Following these reductions, the average for two-year fixed rates across all loan-to-value tiers is now 4.87%,… The post Three-year fixes see biggest cuts: Moneyfacts rate watch appeared first on Mortgage Strategy.
Accord is cutting rates on its residential product transfers and additional loans by up to 10bps. The lender will withdraw its current ranges on 8pm on 30 November and launch new ranges on 8am on 1 December. The new ranges will see 90% LTV rates… The post Accord trims residential PT rates by up to 10bps appeared first on Mortgage Strategy.
The number of homes sold in October reached 98,450, an increase of 2% compared to September, but a reduction of 2% compared to the same month last year, according to the latest HMRC property transactions data. Provisional figures, on a seasonally-adjusted basis, show that commercial… The post Home sales rise 2% in October: HMRC transactions appeared first on Mortgage Strategy.
Lloyds Banking Group is cutting the procuration fees it pays on product transfers so that they no longer match those on new business. Advisers have been told in an update this week that the fees will fall from January 5 across all the bank’s lending… The post Lloyds to cut proc fees on PTs across all brands appeared first on Mortgage Strategy.
