Mortgages

Loans Warehouse has announced the appointment of Nigel Lewis (pictured) as head of key accounts. With over 20 years’ experience in the financial services industry, Lewis will lead the expansion of the company’s network partnerships, working closely with the wider distribution team. His role will focus on enhancing key partnerships and relationships with mortgage clubs and networks. As part of its wider growth strategy, Loans Warehouse has also welcomed two further appointments. Victoria Symmonds joins as head of in-house recruitment and Michelle Collins joins as completions manager. The post Loans Warehouse appoints Lewis head of key accounts appeared first on Mortgage Strategy.

Keystone Property Finance has reintroduced a 7% arrangement fee option on selected five-year loans allowing landlords to borrow more, while Virgin Money lifts some residential and buy-to-let loans as well as withdrawing others.    The specialist lender’s 7% arrangement fee is available on its five-year standard products at 65% loan to value and 75% LTV, as well as on its five-year specialist deals at 65% LTV and 75% LTV for properties with one to six occupants or units.  Its rates for these products are:  Five-year standard — 4.69% at 65% LTV, and 4.79% at 75% LTV  Five-year specialist — 4.99% at 65% LTV, and 5.09% at 75% LTV  Keystone Property Finance managing director Elise Coole says: “Recent increases in mortgage rates have made it more challenging for some landlords to pass affordability stress tests and secure the borrowing they need.   “By reintroducing our 7% arrangement fee products, we’re responding directly to these market pressures and providing landlords with a practical solution to achieve higher leverage, even in a tougher rate environment.” Meanwhile, Virgin has raised selected residential and buy-to-let loans as well as withdrawing four products from today.  The high street lender’s price rises include: Purchase: Selected two- and five-year fixes, with a £995 fee have been increased by up to 15bps Selected Own New fixes have been increased by up to 15bps Remortgage: Retrofit Boost five-year fixes, with a £995 fee, have been increased by up to 15bps BTL: 60% LTV two- and five-year fixes, with a £2,195 fee, have been increased by up to 10bps The lender has also withdrawn these loans: 75% LTV five-year fixes, with a £895 fee, at 4.09% 75% LTV five-year fee-saver fixes at 4.24% 85% LTV five-year fixes, with a £995 fee, at 4.19% 85% LTV five-year fixes, with a £995 fee, at 4.24% The post Keystone brings back 7% landlord fees, Virgin lifts rates by up to 15bps   appeared first on Mortgage Strategy.

The Equity Release Council has added property valuations firm PriceHubble as an associate member.     The data insights firm collects a range of information in the mortgage market — including energy performance, climate risk and cladding statistics — in order to streamline underwriting.  The company has a presence in 11 countries, including France, Germany, Japan, the US as well as the UK.  PriceHubble managing director Mark Cunningham (pictured) says: “With 22 million people over 50 in England alone, the UK has a significant and growing later life lending market.   “We are therefore pleased to join the Equity Release Council and position ourselves to use our high-quality data-driven insights to support the businesses in this important sector as well as the customers they serve.”  Equity Release Council chief executive Jim Boyd adds: “Data plays a crucial role in the later life lending industry with customers relying on advisers and providers to make accurate and long-term decisions based on the anticipated value of their homes.” The post Equity Release Council adds PriceHubble as associate member   appeared first on Mortgage Strategy.

Principality Intermediaries will cut selected fixed-rate home loan rates by 20 basis points, lift other prices by as much as 40bps and launch landlord loans. This comes as Family Building Society lowers residential rates by 20bps and launches five-year limited company landlord products. The Cardiff-based mutual will tomorrow (Wednesday) cut two-year residential fixes at 90% loan-to-value by 20bps and see two-year joint borrower sole proprietor 90% LTV deals come down by 20bps. While five-year residential 75% LTV fixes will rise by 36bps and five-year 75% LTV joint borrower sole proprietor products increase by 40bps. The lender will introduce three buy-to-let loans: Two-year 60% LTV fixes, with a £2,499 product fee Two-year 70% LTV fixes, with £2,499 product fee Two-year 75% LTV fixes, with £2,499 product fee Meanwhile, Family Building Society has launched a range of reduced rate owner occupier and buy-to-let products by up to 20bps. The society has also introduced two-year interest-only variants for loans over £500,000 and up to £4m available on a semi exclusive basis. Two-year fixed rate owner occupier interest-only products have been lowered by 10bps, while five-year rates have been cut by 5bps. It has also reduced its two-year joint borrower sole proprietor product by 25bps. Two-year rate owner occupier repayment fixes have gone down by 20bps, while five-year rates have been reduced by 5bps. Family Building Society’s UK landlords two-year fixes has been cut by 15bps and the five-year equivalent has been trimmed by 5bps. It has also reduced its five- and two-year limited company fixes by 15bps. For limited company landlords, the society has added new five-year BTL fixes, with a 3% product fee available for purchase and remortgage applications. The post Principality cuts and raises rates by 40bps, Family BS reduces fixes by 20bps appeared first on Mortgage Strategy.

House prices in rural areas have risen significantly higher over the last five years, compared to predominantly urban areas This is according to new market analysis from Nationwide, which reveals that between December 2019 and December 2024, house prices in rural areas increased by 23%, compared with 18% in predominantly urban areas. Local authorities classified as ‘urban with significant rural’ saw price growth of 22% over the same period. Commenting on the figures,Nationwide’s senior economist Andrew Harvey  said: “The pandemic had a significant impact on housing demand during 2021 and 2022, with our research at the time pointing to a shift in preferences towards more rural areas, particularly amongst older age groups. Whilst these effects have now faded, less urban areas have continued to hold the edge in terms of house price growth.” The Nationwide survey focused on homeowners who have moved in the last five years. It found that the majority (63%) of house moves were within the same type of area, with the biggest flow being within large towns or cities. About 9% of moves were from towns / cities to rural areas (villages or hamlets), although this was partially offset by 7% who moved from rural to more urban areas, Amongst those who moved to a different type of area, there was a significant difference by age group, with younger people (those aged 25-34) tending to move to more urban areas, whilst older age groups, particularly 55-plus, favouring more rural areas. Responding to the survey’s findings, NAEA Propertymark president Toby Leek said: “Rural houses continue to show as a popular choice amongst home movers even after the spike seen on the back of the COVID pandemic. A shift in trends, such as remote working, a desire for more outdoor space and changes to many people’s general cost of living budgets have pushed some to move to more rural locations.” He added: “Generally, these types of homes can offer some additional perks such as additional space both inside and out, privacy and a different pace of life.” The post Rural properties see highest price growth: Nationwide appeared first on Mortgage Strategy.

Housebuilders who fail to build homes may be stripped of land and face fines under new housing department proposals. Developers will also have to commit to delivery timeframes for new houses before being given planning permission to ensure that “thousands of new homes promised to communities will be delivered faster,” the department said. It added that housebuilders will have to submit annual reports showing their progress to local councils. But the government said that builders “who consistently fail to build out consented sites and those who secure planning permissions simply to trade land speculatively could also face a ‘Delayed Homes Penalty’ worth thousands per unbuilt home, paid directly to local planning authorities”. It added: “Those deliberately sitting on vital land, without building the homes promised could see their sites acquired by councils where there is a case in the public interest and stripped of future planning permissions”. These latest moves by the government to back its pledge to build 1.5 million homes over the next five years, were released over the weekend. Deputy Prime Minister and Housing Secretary, Angela Rayner said: “This government has taken radical steps to overhaul the planning system to get Britain building again after years of inaction. “Now it’s time for developers to roll up their sleeves and play their part. “We’re going even further to get the homes we need. No more sites with planning permission gathering dust for decades while a generation struggles to get on the housing ladder.” The housing department added that large housing sites, with over 2,000 homes, can take at least 14 years to build, “meaning working families and young people spend years deprived of homeownership or the ability to rent an affordable home”. But where more than 40% of homes are affordable, build-out is twice as fast,” the department pointed out. It said it would begin “testing a new requirement for large sites to be mixed tenure by default – helping to build more homes, including more affordable homes, faster”. The post Housebuilders face forced land sales if they fail to build homes appeared first on Mortgage Strategy.

Hodge has appointed John Carter to lead its real estate finance business. Cater joins from Aldermore Bank where he served as commercial director for just over seven years. He has also worked at National Australia Bank as head of CRE. He brings with him experience in leadership and delivering bespoke property development and investment finance solutions. Carter’s appointment comes as Hodge launches a brand refresh of its real estate finance division. Hodge chief executive officer David Landen says: “We’re thrilled to welcome John to the team at such a pivotal time.” “His appointment underlines our commitment to delivering on our promise of providing fast, flexible real estate finance solutions to support customers with their property development and investment ambitions.” Carter adds: “I look forward to working with the team to build on that legacy, expand our reach, and deliver even more tailored solutions to developers and investors across the UK.” Earlier this month, Hodge eased affordability stress rate calculations, which will allow it to grant loans that are almost 20% larger for average customers. The post Hodge hires Carter to head up real estate finance business appeared first on Mortgage Strategy.

Roma Finance has appointed six new team members across different areas of the business including case management, packaging, surveying and business development. The new recruits include Isabel Robin as case manager, Declan Henry as case manager, Ethan Hagel as internal monitoring surveyor, Eleanor Kenworthy as case manager, Fay Cripps as case manager and Jonathan Clarke-Quirk as business development executive. This comes following several recent product launches, including the revolving credit facility, alongside enhancements to the lender’s FLOW and GROW product ranges. Roma Finance founder and managing director Scott Marshall says: “We’ve had a phenomenal start to 2025, delivering a record first quarter and launching some of the most exciting product innovations in our history to date.” “The expansion of our team is a direct response to the increasing demand we’re seeing from brokers and customers, and we’re delighted to welcome this latest group of talented professionals into the business.” The post Roma Finance expands team with six recruits appeared first on Mortgage Strategy.

This week’s top stories include April Mortgages unveiling a long-term 100% LTV home loan, and Gable Mortgages introducing five-year deals with 0% deposit. Explore these and other key developments below.  April Mortgages launches long-term 100% LTV home loan   April Mortgages launched a long-term 100% loan-to-value home loan called the No Deposit Mortgage. Offered on 10- and 15-year fixed terms, it allowed borrowing up to 4.49 times income, with no early repayment charges. The product included uncapped overpayments and automatic rate reductions as equity grew. Aimed at buyers with strong finances but no family support, it sought to address home ownership barriers without loosening lending standards. Gable Mortgages launches 0% deposit five-year deals Gable Mortgages launched two 0% deposit five-year fixed-rate deals for first- and next-time buyers, targeting ‘Generation Rent’ customers struggling to save for a deposit. Rates were set at 5.95% for standard and 5.65% for new builds. Loan sizes ranged from £125,000 to £1m, with loan-to-income caps varying by employment status. The launch followed April Mortgages’ similar move, signalling growing lender response to deposit challenges faced by aspiring homeowners. FCA mortgage proposals ‘overlook’ broker advice: Ami   The Association of Mortgage Intermediaries argued that the FCA’s mortgage rule proposals overlooked the vital role of brokers, risking weaker consumer protection. While the FCA aimed to simplify switching and remortgaging, Ami warned this could reduce access to quality advice, leading to poorer outcomes. With 97% of mortgage business broker-led, Ami challenged the notion of market failure and criticised the push towards execution-only transactions that lack essential guidance and safeguards. Rate cut pace ‘too rapid’: BoE Pill Bank of England chief economist Huw Pill said the pace of base rate cuts had been “too rapid,” warning inflation pressures warranted a more cautious approach. Since August, the Bank had implemented four 25bps cuts, bringing the rate to 4.25%. Pill suggested reductions began too early and noted signs of weakening disinflation. With inflation expected to rise to 3.5%, he stressed that some policy restraint remained necessary despite improved economic growth forecasts. HSBC trims prices on resi, BTL and international mortgage rates HSBC cut rates across its residential, buy-to-let (BTL), and international mortgage ranges, offering the most rates under 4% since 2022. Two-year fixed rates at 60% LTV dropped to as low as 3.74% for premier switchers. BTL rates fell by up to 0.25%, and international mortgage rates reduced by up to 0.09%. The lender also lowered fees, aiming to attract remortgages, purchasers, and switchers with competitive pricing. Halifax changes rates on remo products Halifax announced rate increases on remortgage products effective 20 May. Two-year fixed rates rose by 0.18% for 0-60% LTV and 0.06% for 0-75% LTV, both with a £1,999 product fee. Five-year fixed rates increased by 0.15% for 0-60% and 0-75% LTV products. Customers had to submit applications by 8pm on 19 May to secure existing product codes. Earlier, Halifax HPI indicated a stronger housing market. Mortgage rates continued downward trend this week: Moneyfacts Mortgage rates continued to fall as over a dozen lenders cut fixed mortgage rates, according to Moneyfacts. Two-year fixes dropped by 0.03% to 5.11%, three-year fixes by 0.02% to 5.03%, and five-year fixes by 0.02% to 5.08%. Major lenders including NatWest, Virgin Money, and Barclays reduced rates, while some building societies also cut rates. However, 10-year fixes remained unchanged at 5.47%. The market showed mixed movements overall. Barclays latest lender to ease affordability tests   Barclays became the latest lender to ease affordability stress tests, allowing customers to borrow up to £30,000 more for home purchases. The relaxed criteria applied to residential purchase and remortgage applications. This followed similar moves by Nationwide, NatWest, Lloyds, Santander, Hodge, and Accord. Barclays aimed to help buyers amid current challenges while maintaining strong repayment measures. The FCA had previously criticised lenders for being overly cautious with first-time buyer loans. Mortgage Strategy Awards 2025 winners announced! The Mortgage Strategy Awards 2025 took place at London’s JW Marriott Grosvenor House Hotel. Hosted by comedian Maisie Adam, the event celebrated outstanding firms and individuals in the mortgage industry. Judges faced a tough task selecting winners from many highly commended entries. The ceremony honoured all shortlisted participants, recognising their achievements. Attendees helped make the evening a memorable celebration, reinforcing the awards’ status as a highlight of the mortgage industry calendar. Nationwide and Rightmove launch property lending check Nationwide Building Society and Rightmove launched a digital ‘property lending check’ allowing homebuyers to see if a property was likely eligible for a mortgage before viewing it. The tool assessed risks like flooding or short leases, aiming to save buyers time and stress. This feature, part of Rightmove’s mortgage in principle service, was designed to speed up the home-buying process and provide clearer affordability information earlier. The post Mortgage Strategy’s Top 10 Stories: 19 May to 23 May appeared first on Mortgage Strategy.

Together has lifted its maximum loan sizes across several commercial products.   The specialist lender says its top loan sizes on commercial term products increases to £5m, with loan-to-value ratios at 70% for purchase and 65% for remortgage products.   The firm’s buy-to-let top loan size also increases from £2.5m to £4.5m.  It adds that the maximum non-standard property LTVs increases to 65% from 60% for all applicable products across commercial and personal finance, including first and second charge and BTL mortgages.  For second charge homeowner business loans, the lender lifts its maximum loan size to £1m from £500,000 up to 70% LTV.  Together director of intermediary sales Tanya Elmaz says: “Through increasing our maximum loan sizes we are able to offer our award-winning flexible-criteria products, alongside our speed of service, to even more customers.  “Our confidence in the market is demonstrated by our strong appetite to lend, and our ability to provide funding on non-standard properties demonstrates the strength of our underwriting team.” The post Together lifts maximum loan sizes and LTV ratios across product ranges   appeared first on Mortgage Strategy.