Shekina Tuahene

London

Commercial Editor, AE3 Media Ltd at Mortgage Solutions

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Articles

Mortgage availability set to increase over next three months, lenders say

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

The availability of secured credit to households increased in the three months to February and is expected to rise further over the next quarter, lenders told the central bank. The Bank of England’s Credit Conditions survey found lenders returned a score of 9.2% for the availability of secured credit to households in Q1, suggesting a slight increase. However, they gave a score of 19.8% for the coming three months, indicating more availability.
TMW cuts rates and adds £750 cashback range for limited company borrowers

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

The Mortgage Works (TMW) has reduced buy-to-let (BTL) mortgage rates and introduced cashback options for limited company borrowers. TMW has lowered limited company BTL rates by as much as 0.25%, while BTL to let-to-buy pricing will be reduced by up to 0.2%. Rate reductions include its two-year fixed BTL purchase and remortgage product, available up to 65% loan to value (LTV) with a 3% fee, which has gone down by 0.1% to 3.14%.
Cambridge BS donates over £30k to local charities

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

The Cambridge Building Society has given £32,820 to five local charities supporting housing access, tackling homelessness and providing care for vulnerable people and families. The mutual’s community fund, managed by Cambridgeshire Community Foundation, has donated this money to Cambridge Women’s Aid, Cambridge and District Citizens Advice (CDCA), The Sick Children’s Trust, Making Space and Wintercomfort.
Pure Retirement sees share of borrowers with high-value homes nearly double QoQ

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

Lifetime mortgage lender Pure Retirement has reported that the share of business coming from borrowers living in high-value homes rose from 5% at the end of 2024 to 9% in Q1. The lender considers high-value homes as properties with a value of more than £850,000. Much of its business continued to come from borrowers who had homes worth up to £400,000, accounting for 64% of new business in Q1. This was a 3% rise compared to last year but lower than the 65% share seen in the previous quarter.
Vernon BS allows ERC-free 25% overpayments on variable range; Virgin cuts rates - round-up

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

Vernon Building Society has updated its discounted variable rate mortgage range to allow borrowers to make capital repayments of up to 25% each year without any early repayment charges (ERCs). The mutual said this was a more generous allowance than the typical 10% overpayment limit across the market, and would give borrowers the freedom to reduce their mortgage balance faster.
Bankhall and PMS enhance adviser platform with Acre

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

Bankhall and PMS Mortgage Club, part of Sesame Bankhall Group (SBG), have made a number of platform updates to help advisers be more efficient and deliver better outcomes for clients. The enhancements have been developed by mortgage and protection platform provider Acre and include improved Consumer Duty Dashboards to give directly authorised (DA) advisers instant access to compliance and business performance data with the use of Acre’s technology and Bankhall’s compliance support.
Lenders are making the right changes with criteria but there’s still a way to go - Marketwatch

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

As average mortgage rates stay flat for the most part, the sector has seen lenders tweak criteria by adding different forms of income, increasing loan-to-value (LTV) and loan-to-income (LTI) limits, and opening up to different types of borrowers. So this month, Mortgage Solutions is asking: Are lenders being bold enough in their criteria changes?
FCA consults on lessening reporting burden for mortgage advisers

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

The Financial Conduct Authority (FCA) is proposing changes to the data it collects from firms to reduce burdens and “unlock economic growth”. The regulator said this was in response to its letter to the Prime Minister regarding growth in the financial services sector, resulting in more free time and resources for firms. It is proposing removing data collection requirements that do not provide useful data or duplicate information.
Perenna backs Gen H’s Help to Buy alternative with funding relationship

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

Perenna has established a funding relationship with Gen H to back its newest proposition, New Build Boost. Gen H announced the launch of New Build Boost as an alternative to the Help to Buy scheme last month, allowing borrowers with a 5% deposit to access its 80% loan-to-value (LTV) mortgages, with housebuilders filling the 15% gap with a zero-interest loan. The New Build Boost was exclusively launched with Persimmon.
Private rents jump 7.7% in March - ONS

1 week ago | mortgagesolutions.co.uk | Shekina Tuahene

The average monthly private rent in the UK increased annually by 7.7% to £1,332 in March, a slower rate of growth than the 8.1% rise recorded in the year to February. The Office for National Statistics (ONS) data showed that in England, average private rents came to £1,376 per month – 7.8% higher than the year before. In Wales, an 8.9% rise was recorded, putting the average monthly rent at £792, while in Scotland, there was a 5.7% growth in the year to March, averaging £1,001.