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Masthaven Finance joins NACFB as patron member

4 days ago | mortgagesolutions.co.uk | Anna Sagar

Specialist lender Masthaven Finance has joined the National Association of Commercial Finance Brokers (NACFB) as a patron member. Masthaven Finance, which came back to the market earlier this year when it was acquired and combined with Spring Finance, said this was a “significant milestone in its return to the market as a specialist lender”.
Nationwide to lower rates; Clydesdale boosts BTL affordability - round-up

4 days ago | mortgagesolutions.co.uk | Anna Sagar

High street lender Nationwide will lower selected new and existing customer rates by up to 0.12%. The mortgage rate changes will come into effect from 5 June, with the lowest lending rates starting from 3.9%. For new customers moving home, cuts of up to 0.1% have been made across two-, three- and five-year fixed rate products up to 90% loan to value (LTV). An example includes its two-year fixed rate at 60% LTV with a £1,499 fee, which will fall by 0.09% to 3.9%.
Spending Review is ‘make or break’ for Labour’s 1.5 million housing target, Housing Committee chair warns

4 days ago | mortgagesolutions.co.uk | Anna Sagar

The Spending Review next week is “make or break” for the delivery of 1.5 million new homes and boosted investment in social and affordable housing, the chair of the Housing Committee has said.
Return of interest-only could be answer to mortgage affordability constraints, debates industry

4 days ago | mortgagesolutions.co.uk | Samantha Partington

Reviving interest-only mortgages to make homeownership more affordable was among the topics debated by industry professionals at a roundtable ahead of the launch of the regulator’s discussion paper on affordability and access to borrowing. The Financial Conduct Authority’s (FCA’s) consultation on the simplification of its lending rules is about to end and a debate around alternative affordability tests, innovation and responsible risk taking is set to begin.
Accord ups max loan sizes and extends 95% LTV lending to new build

4 days ago | mortgagesolutions.co.uk | Anna Sagar

Accord is increasing the maximum loan sizes by up to £1.6m in some cases and extending 95% loan-to-value (LTV) lending to new builds. Accord said the changes would help first-time and next-time buyers achieve their homeownership goals. The changes significantly increase the amount it lends to people borrowing over 75% of a home’s value, and this will assist those buying in “hotspots” where house prices have risen rapidly, the firm said.
Paragon’s new mortgage lending rises by 25% YOY to £812m in H1

4 days ago | mortgagesolutions.co.uk | Anna Sagar

Paragon’s new buy-to-let (BTL) mortgage advances in the first half of this year rose by 25% to £812m. According to Paragon’s latest financial results, around £800.9m of mortgage lending was from specialist BTL business, with the remaining £11.2m coming from non-specialist BTL business. The strong level of new BTL advances along with its “strong customer retention” mean that the net loan book in the mortgage lending division has grown by 4.5% year-on-year to £13.7bn.
Clydesdale Bank to up selected core and exclusive rates

5 days ago | mortgagesolutions.co.uk | Anna Sagar

Clydesdale Bank will increase selected mortgage rates, including core residential and exclusive products, by up to 0.25%. The changes to its mortgage rates will come into force from 4 June. Within its core residential range, which includes product transfers, selected residential two- and five-year fixed rates at 65-75% loan to value (LTV) will rise by around 0.25%.
Guardian pays over £21m in claims in 2024

5 days ago | mortgagesolutions.co.uk | Shekina Tuahene

Insurance provider Guardian paid over £21m in claims payouts last year, across 238 life, terminal illness and critical illness claims. This was a 40% rise on the year before. Guardian paid 100% of life claims for the second year running, and 94% of terminal illness claims were paid out. Some 56% of the terminal illness claims were under the insurer’s enhanced definition, which it said would not have met the industry standard.
FTBs face ‘some of the biggest barriers than ever before’ but regulation change and innovative products help to bridge gap, Skipton BS’ Lloyd says

5 days ago | mortgagesolutions.co.uk | Anna Sagar

First-time buyers are facing more barriers than before in terms of getting on the ladder, but reviews of regulation and product innovation are helping to bridge the gap, a senior executive at Skipton Building Society has said.
Gen H brings on Doyle as intermediary sales lead

5 days ago | mortgagesolutions.co.uk | Anna Sagar

Fintech mortgage lender Gen H has appointed Paddy Doyle (pictured) as its intermediary sales lead. In his role at Gen H, Doyle will focus on “driving new business” and, on the road, will be the “point of contact for thousands of intermediaries across the country”. This marks a return to the lender for Doyle, who worked at the firm between 2022 and 2023 as a business development manager (BDM). Most recently, he was a regional account manager at West One Loans for around a year.