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1 week ago | 
mortgagefinancegazette.com | Bek Commane
in Banks, Building societies, Lending news, Market news
The fixed rate mortgage cut momentum eased off this week with many lenders moving to instead increase rates.
In what has been called a ‘subdued’ market, rates rose across the board for average fixed deals in the week to Friday, 30 May.
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2 weeks ago | 
mortgagefinancegazette.com | Bek Commane
Loughborough Building Society has increased the maximum LTV to 70% from 60% on interest-only mortgages that extend beyond the age of 80.
The lender says the increased LTV is aimed at supporting borrowers seeking later life borrowing for purposes such as home improvements, debt consolidation, gifting, second home purchases, or even restarting homeownership following life events such as divorce.
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3 weeks ago | 
mortgagefinancegazette.com | Bek Commane
ModaMortgages is now accepting day one remortgages for bridge exit applications across its core and limited edition buy-to-let product ranges.
The specialist lender is also now accepting applications for capital raising where the applicant has sufficient equity in an existing property. Landlords can borrow between £25,000 and £2m, with LTVs of up to 80% available.
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3 weeks ago | 
mortgagefinancegazette.com | Bek Commane
Mortgage rates continued to fall this week as over a dozen lenders made cuts to their fixed mortgage ranges, according to Moneyfacts’ latest data.
The average two-year fix fell by 0.03% from last week to a current average of 5.11%, while three-year fixes also dropped by an average of 0.02% to 5.03% this week. Meanwhile, five-year fixes dipped an average of 0.02% across all LTVs to 5.08%, compared to last week when they were unchanged from the week prior.
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4 weeks ago | 
mortgagefinancegazette.com | Bek Commane
From 11 to 16 May, professionals from across the mortgage industry will lace up their walking shoes and unite for the Mortgage Industry Mental Health Charter (MIMHC) ‘Walk & Talk’.
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1 month ago | 
mortgagefinancegazette.com | Bek Commane
Anti-money laundering (AML) continues to be a high priority across all sectors. The extent to which money laundering activity can impact the UK economy is estimated by the National Crime Agency (NCA) to run into the hundreds of billions of pounds.
In March, the government published its Anti-Money Laundering and Counter-Terrorist Financing Supervision Report for 2023 – 24 where it reconfirmed its commitment to ‘maintaining robust defences against illicit finance’.
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1 month ago | 
mortgagefinancegazette.com | Bek Commane
Emap has hired James Prosser as commercial director across B2B propositions Mortgage Strategy and Mortgage Finance Gazette. James brings a wealth of experience within the mortgage publishing and events industry and will be tasked with bringing innovation back to this part of the sector.
Emap managing director Piers Johnson says: “James to the team to help drive our mortgage brands forward.
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1 month ago | 
mortgagefinancegazette.com | Bek Commane
in Banks, Building societies, Lending news, Uncategorised
Multiple lenders have today cut rates across their mortgage ranges, some significantly.
HSBC UK has made rate cuts of up to 0.25% on specific mortgages and says all of its purchase and first-time buyer rates are under 5% for the first time since 2022.
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1 month ago | 
mortgagefinancegazette.com | Bek Commane
April Mortgages has introduced lending up to seven times income on specific products, exclusively available through intermediaries.
The increased LTI (loan to income) offering is available on the lender’s 10- and 15-year fixed rate mortgage products for applicants with a household income of £50,000 or more, up to 85% LTV.
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1 month ago | 
mortgagefinancegazette.com | Bek Commane
in Company news, Funding, Lending news
Intermediary-only lender Perenna Bank has partnered with residential mortgage lender Gen H in a new funding deal.
The alliance sees Perenna, which specialises in long-term fixed rate mortgages, provide forward flow funding for Gen H’s newly launched scheme, New Build Boost.
