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Here is today's latest news from the world of mortgages and introducers. Join the debate by leaving a comment below a story. Remember, you will need to be logged-in to do this.

Breaking News

Significant Tax Raid Coming - stark warning from tax expert

Families across the UK and even those overseas with assets in Britain need to urgently consider ways to mitigate the potential impacts of the new UK...

First Time Buyer mortgage payments show big drop from peak

Rightmove says the average first-time buyer mortgage payment is nearly £150 lower than the mortgage rate peak in July 2023.   Rightmove’s weekly mortgage tracker shows how average...

Lloyds / Halifax increase lending multiples for first time buyers

Extra help for first-time home buyers is on the way as Lloyds Banking Group increases the amount prospective homeowners can borrow, via a new product called...

Annual house price growth at highest for almost two years

Nationwide says UK house prices fell by 0.2% month on month in August, after taking account of seasonal effects, but the annual rate of house price...

Lender returns to expat Furnished Holiday Lets mortgage market

A lender has re-entered the market for expats seeking to buy furnished holiday lets. The Marsden Building Society - which specialises in products for expats - says...

Lower mortgage rates help build momentum in housing market

Zoopla’s latest House Price index shows a housing market steadily recovering from the impacts of higher mortgage rates with prices rising slowly. However the portal warns that...

Mortgage Rate Cuts reduce exodus of first time buyers from London

Hamptons analysis of Countrywide estate agency data shows that in the first half of 2024, Londoners purchased 33,130 homes outside the capital, slightly below the 2015-2019...

Santander calculates huge premiums on homes in best catchment areas

New data from Santander shows that parents wanting children to attend one of the top 500 state primary schools outside of London are hit with a...

Approvals set to rise if mortgage market sticks to historic pattern

A new analysis of the housing market suggests approvals will rise following the first Bank of England base rate cut of 2024. Lender Octane Capital has looked...

Older owners have reduced equity to draw down - new stats

Older home owners taking equity release from their properties are, on average, £12,400 worse off today than they were last year, thanks to the faltering house...

Retrofit Mortgages - equity release used to improve energy efficiency

The Equity Release Council (ERC) has unveiled new guidance for member firms to consider when launching retrofit lifetime mortgages.   In consultation with the Green Finance Institute (GFI)...

Bridging loan books continue to break records

Bridging loan books continued to grow to record levels in the second quarter of 2024, reaching nearly £8.4 billion, according to the Bridging & Development Lenders...

Landlords have spoken - these are the loans they want

There’s no question that fixed rate mortgages are the product of choice among the majority of borrowers. It’s not just the case in the residential space...

Mortgage extensions can cost tens of thousands - new data

Mojo Mortgages’ data has revealed that extending a mortgage from 25 to 35 years can cost the average first-time buyer an extra £87,180. John Fraser-Tucker, head of...

Lender makes major changes to expat mortgage criteria

Marsden Building Society has announced several changes to its expat mortgage criteria, including accepting British Nationals Overseas Persons (BNOPs) and foreign nationals.   The society’s enhanced policy aims...

Portfolio landlords warned of catch in new mortgage deals

Portfolio landlords seeking a new mortgage or remortgage are being warned of growing personal guarantee risks. Purbeck Insurance Services claims personal guarantee demand from lenders has risen...

Rightmove reverses house price forecast after rate cut

The positive impact of this month’s Bank of England base rate cut, combined with other encouraging market data, has led Rightmove to revise its end-of-year price...

Legal & General acquires 147 single-family Build To Rent homes

Legal & General’s Suburban Build-to-Rent platform - known as LGSBTR - is working with the Vistry Group on a £40m deal to bring forward 147 new...

New study shows buyers know little (or nothing) about mortgages

A new study by David Wilson Homes reveals over half of Britons are unfamiliar with the stamp duty fee – and many more know little or...

Why does it take 70% longer to sell a UK home than a US home?

Digital property pack provider Moverly has analysed the average time it takes to sell a home in 12 countries - and guess who is at the...

Bank of England slammed as "too slow" at cutting rates

The Bank of England has been sharply rebuked by a think tank which claims rate cuts should have come faster. The free-market think tank the Institute of...

First Time Buyers increasingly rely on Bank of Mum and Dad

Gifts and loans from the Bank of Mum & Dad totalled £9.4 billion in 2023, according to the latest analysis from lettings agency Savills. This amount has...

April Mortgages completes full rollout with SPF Private Clients

April Mortgages has rolled out its range of longer-term fixed rate mortgages to all brokers at SPF Private Clients.   SPF Private Clients is one of the best-known...

Revealed - speakers and sessions at Mortgage Vision 2024

Mortgage Brain has confirmed the industry speakers and panellists for its biggest-ever Mortgage Vision roadshow. T Amongst the speakers confirmed is Robert Sinclair of the Association of...

Mortgage shelf-life plummets, and product choice dips too

The average shelf-life of a mortgage product has dropped to just 17 days, down from 30 days a month, according to Moneyfacts. Average mortgage rates on the...

Get In There! Brokers told landlord market is ripe for growth

Unencumbered rental properties present a big opportunity for brokers to grow buy to let business, says financial specialist Brightstar. In a video interview with Andrew Cappaert of...

Lender to help remortgage gifting for first time buyers

April Mortgages has improved its capital raising criteria, to make it easier for borrowers looking to raise additional capital for gifting purposes when remortgaging. Gifting has become...

Buy To Let sector hopelessly behind EPC target deadline

It will take no less than 18 years for all private rental properties to achieve an EPC rating of C or above, a lettings agency claims. Research...

Intermediaries chief speaks out against rent controls

Kate Davies, executive director of the Intermediary Mortgage Lenders Association (IMLA), says rent controls are not the magic answer to problems in the lettings sector. In a...

House transaction delays trigger big rise in Bridging

A monitor of the bridging sector suggests business is growing - mostly because of delays in the mainstream property conveyancing sector, triggering the need for additional...

Broker Training Academy credited with company growth success

Mortgage and protection brokerage Access Financial Services has reported what it calls “exceptional growth” with turnover up 46% between April 2023 and April 2024. With Consumer Duty...

Intermediary Confidence Booms as business volumes continue to grow

The latest Mortgage Market Tracker report from the Intermediary Mortgage Lenders Association reveals that intermediary confidence has now recovered to its long-run norm.  Business volumes continue to...

Innovative April Mortgages cuts rates in simplification exercise

April Mortgages, the lender seeking to introduce Dutch-style longer-term products, has reduced the interest rates on its range of five to 15 year fixed rate mortgages. April...

Squeezed Mortgage Seekers buddy up to make joint applications

The nation is more open-minded than we might think about who to pair up with for joint credit applications, according to new research from reference agency...

Dramatic rise for Mortgage Possession Claims - government data

Both mortgage and landlord possessions actions have continued to rise in the current quarter. Mortgage claims have reached their highest volume since Q2 2019 and are...

Brokers join call for Pre-Sale Surveys to speed transactions

A poll of surveyors shows strong support for the idea of pre-sale surveys. When asked whether the new Government should introduce mandatory pre-sale surveys to speed up...

Sham brokers named and shamed by FCA and Court

The Financial Conduct Authority has secured an order of £4m against an unauthorised mortgage broker and its associates who exploited vulnerable consumers.  London Property Investments (U.K) Limited...

Specialist lenders cut buy to let rates yet again

The Mortgage Works (TMW) has reduced rates by up to 0.45 percentage points across its product range, with rates starting from 3.49%. The new rates include Two-year...

Society relaunches its General Client Account

Monmouthshire Building Society has relaunched its General Client Account, with an enhanced product designed to provide a secure and efficient solution for professional service providers managing...

Halifax Eco Cashback scheme offers up to £2,000 to borrowers

Home buyers, movers, and existing owners making energy-saving improvements to their properties can now get up to £2,000 cashback from a mortgage lender.  Under new Halifax Green...

Could the Bank of England make THREE rate cuts this year?

There’s speculation that there could be two more base rate cuts announced before the end of the year, following last week’s decision to drop from 5.25%...

Surge in borrowers wanting mortgages taking them into retirement

New data from Legal & General’s Ignite platform shows a significant increase in over-50s seeking remortgages with terms taking them close to or into retirement.   Searches for...

Mortgage intermediary firms expand as optimism improves

More than half of mortgage intermediary firms are expanding, reflecting growing optimism amongst brokers, Paragon Bank research reveals.   The summer edition of Paragon Bank’s Mortgage Intermediary Insight...

Bonanza for Buy To Let as rates tumble from lenders

Zephyr Homeloans, the specialist buy to let mortgage provider, has launched a two-year, fixed, 80% mortgage product across its standard, HMO and MUFB (multi-unit freehold blocks)...

Rate cut impact only “modest” as affordability remains stretched

UK house prices increased by 0.3% month on month in July, after taking account of seasonal effects.  This resulted in a slight pickup in the annual rate...

Tomorrow's Interest Rate Decision - stick or drop?

Speculation continues to mount about the likely decision by the Bank of England’s monetary policy committee when it debates base rate tomorrow. Here. The agency Newspage has...

Revealed - UK’s favoured house types, moving patterns, demographics

The number of people moving home increased by 10% in the first half of 2024, according to the latest Lloyds Bank Home Mover Review. In the first...

Rightmove sceptical of Labour’s Mortgage Guarantee Scheme

Rightmove has broadly welcomed the raft of proposals put forward by the new Labour government to help first time buyers, but it’s struck a note of...

Industry reacts to last mortgage approval figures

Mortgage approvals on house purchases for June were 59,976 according to the Bank of England - down marginally (0.3%) from 60,134 in May. However, they are considerably...

Remortgaging ‘could hurt 1.5m homeowners this year’ - expert’s warning

A leading financial analyst says some 1.5m homeowners will need to remortgage throughout 2024 - and it’s going to hurt for many of them. The so-called Financial...

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