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The move by Halifax to set price fee caps is a bid to “dictate” the payment terms of suppliers, according to the Association of Mortgage Intermediaries.      The body adds that the imposition of a cap is a move towards “price-setting” that “potentially restricts consumer choice.”   Halifax, owned by Lloyds Banking Group, yesterday said it would set fees to brokers who sell The post Halifax price caps a bid to ‘dictate’ broker fees: Ami   appeared first on Mortgage Strategy.

The latest mortgage rate information from Rightmove shows that the average five-year fixed mortgage rate is now 4.97%, up from 4.48% a year ago. The average two-year fixed mortgage rate is now 5.38%, up from 4.78% a year ago. The average 85% LTV five-year fixed mortgage rate is now 4.90%, up from 4.44% a year The post Uptick in average mortgage rates: Rightmove appeared first on Mortgage Strategy.

Clydesdale Bank will raise selected residential deals by up to 35 basis points tomorrow (3 May), while TSB lifts product transfers and additional borrowing by as much as 25bps.   Clydesdale Bank’s price rises include:   Exclusive residential products   75% loan-to-value remortgage two- and five-year fixes will be increased by up to 30bps   Selected purchase two- and The post Clydesdale Bank raises rates by up to 35bps, TSB by 25bps   appeared first on Mortgage Strategy.

The Co-operative Bank says its £780m takeover talks with Coventry Building Society are at a “well advanced” stage.   “Discussions regarding the potential acquisition of the bank are well advanced following completion of substantive due diligence,” says the Co-op Bank in a short first-quarter trading statement.   Coventry Building Society’s proposed takeover of the Co-op Bank, announced The post Coventry BS £780m takeover talks with Co-op Bank are ‘well advanced’    appeared first on Mortgage Strategy.

The average gross rental yields hit 6.1% in the first three months of the year, their highest level for almost four years, according to Paragon Bank.   This rate is the third successive quarter of rises, and highest level since the second quarter of 2018 when yields hit 6.2%.   The highest average yields of 7% were posted by landlords The post Rent yields hit four-year high: Paragon   appeared first on Mortgage Strategy.

Solutions by Foundation, the specialist buy-to-let brand of Foundation Home Loans, has  reduced pricing on selected semi-commercial products by up to 0.2% – one is available for expat borrowers and one for standard use, with rates now starting from 6.89%. For semi-commercial (mixed-use) properties – properties with residential and commercial components combined – the lender The post Solutions by Foundation cuts rates on semi-commercial products appeared first on Mortgage Strategy.

Santander for intermediaries will lift selected residential fixed-rate home loans and all landlord new business offers by up to 26 basis points from tomorrow (3 May).   The move is the second rate rise by the bank in a week.   The firm’s price rises cover:   New business   Selected residential fixes will rise by between 2bps and The post Santander lifts rates for second time in a week   appeared first on Mortgage Strategy.

NatWest and Pexa say they have taken another step toward providing 48-hour remortgages.   The bank is using the Australian homemoving hub’s property exchange technology to speed up house transactions.      NatWest managing director, homebuying and ownership, Miguel Sard says Pexa has already tested the payment scheme with the Bank of England.   Sard adds: “At the heart of our strategy for growth is anticipating and The post NatWest and Pexa pilot moves toward 48-hour remortgages   appeared first on Mortgage Strategy.

A fundraising 125-mile walk from the West Midlands to London led by three Mortgage Industry Mental Health Charter (MIMHC) founders is gearing up to raise as much money as possible for charity. The sponsored hike will take place over five days and forms part of MIMHC’s ‘Walk and Talk 2024’ initiative, which has been created The post MIMHC founders on 125-mile Walk & Talk fundraiser appeared first on Mortgage Strategy.

In light of recent events, it’s imperative for companies of all sizes to reassess their technological resilience strategy The post Comment: Always have a Plan B appeared first on Mortgage Strategy.