The Intermediary

29/03/2024

According to data, new sales agreed were 9% higher than a year ago, with 7% more home sales agreed over Q1 2024 versus Q1 2023.

18/12/2023

The Christmas season is rapidly approaching, and from pub quizzes to party games, the festivities are ramping up.

To join in the fun and bring our readers some well-deserved Christmas cheer, The Intermediary and Downing Property Finance have joined forces to launch our very own 'Missing Words' competition. Plus you can win a free wine subscription for the year!

To join in the fun and bring our readers some well-deserved Christmas cheer, The Intermediary and Downing Property Finance have joined forces to launch our very own 'Missing Words' competition.

10/12/2023

The latest example of alleged conditional selling was doing the rounds on social media on Thursday following a post on LinkedIn by Malcolm Davidson of Hull-based broker, UK Moneyman.

20/11/2023

Gen H has announced a significant reduction in their loan-to-value (LTV) rates, introducing new products with sub-5% LTVs. The rate cuts range between 0.20% and 0.50% across their 60%, 70%, 75%, and 80% LTVs for 2-, 3-, and 5-year terms.

A key development in this round of rate reductions is the introduction of competitive homebuying bundle rates.

Lender Gen H reduces rates by up to 50% on selected 2-, 3-, and 5-year mortgage products, offering new opportunities for homebuyers.

09/11/2023

Landbay is applying reductions of up to 0.30% across its 2- and 5-year fixed rate buy-to-let mortgage ranges.

This latest announcement marks the second rate cut by Landbay within just over a week, prompted by the ongoing fall in swap rates.

The rate cuts include 2-year standard fixed rate mortgages now starting at 4.39% and Like-for-Like remortgage products commencing at 4.49%.

Landbay is applying reductions of up to 0.30% across its 2- and 5-year fixed rate buy-to-let mortgage ranges.

09/11/2023

Reliance Bank is now offering a 4.99% rate on a 2-year fixed Key Worker mortgage, coupled with an £850 cashback incentive for completions.

This rate cut from the previous 5.30% and the added cashback position Reliance Bank as a supportive lender for key workers.

Reliance Bank is now offering a 4.99% rate on a 2-year fixed Key Worker mortgage, coupled with an £850 cashback incentive for completions.

08/11/2023

Nationwide is the first lender for months to bring a sub-5% 2-year fixed rate mortgage to market, for purchases and product transfers at 60% loan-to-value (LTV).

The lender is also offering the lowest 5-year deal for purchases at 4.64% with a £999 fee, also up to 60% LTV.

News agency Newspage sought the views of brokers.

Nationwide is the first lender for months to bring a sub-5% 2-year fixed rate mortgage to market, for purchases and product transfers at 60% loan-to-value (LTV).

30/10/2023

The UK equity release market has reported growth for the first time in 12 months. Quarterly data reveals a 10% increase in new customers and an 8% rise in total lending, accumulating to £716m. This amount was loaned to 7,379 new customers and an additional 8,466 returning for drawdowns.

The UK equity release market has reported growth for the first time in 12 months.

30/10/2023

The Housing Minister, Rachel Maclean, has confirmed that a bill to phase out some leaseholds in England and Wales will be covered in the King's Speech on 7th November, when the Government sets out its legislative agenda for the year ahead.

The Housing Minister, Rachel Maclean, has confirmed that a bill to phase out some leaseholds in England and Wales will be covered in the King's Speech on 7th November.

30/10/2023

Bank of England data published this morning showed that net approvals for remortgaging, which only capture remortgaging with a different lender, fell from 25,100 in August to 20,600 in September, the lowest level since January 1999 (18,300).

Brokers said the reason for the low volume of remortgages is the sharp rise in product transfers, as many people have no choice but to stay with their existing lender, lenders placing more emphasis on retaining borrowers to maintain market share given the lack of purchase activity, and broader apath...

30/10/2023

Homeownership in the UK is increasingly seen as an elite privilege, with research from Yorkshire Building Society showing 78% of first-time buyers and 73% of remortgagers expressing this sentiment. Moreover, 61% of first-time buyers and 54% of remortgagers believe that within five years, the UK is at risk of becoming a nation predominantly of renters.

This perception of the housing market has been shaped by a combination of factors, including a rise in the cost of living, record high house prices, and interest rates not witnessed for nearly two decades.

22/09/2023

Following Thursday's decision by the Bank of England to leave the base rate unchanged, and Wednesday's better than expected inflation data, the 2-year swap rate dropped below 5% this morning.

Speaking with Newspage, brokers welcomed the news and shared their initial speculations as to whether this drop could continue going forward.

Brokers have welcomed the news across the board.

29/08/2023

The turbulent nature of the mortgage market over the past year has led to stress and anxiety among UK borrowers, research from Market Financial Solutions (MFS) has revealed.

The specialist lender surveyed 2,000 adults and found that, of those who had applied for a mortgage in the past 12 months, 64% struggled with stress or anxiety because of the process.

MFS found that, of those who have applied for a mortgage in the past year, 64% struggled with stress or anxiety.

23/08/2023

Cash buyers are making home purchases for less than their mortgaging counterparts, suggesting they are in a stronger position thanks to the current environment of rising interest rates, Octane Capital has found.

In June 2023 cash buyers sealed deals for £27,600 less than those using a mortgage.

21/08/2023

The average home price witnessed a decline of 1.9% in August, marking the most substantial dip for the month since 2018.

This downward trajectory follows a period of rising mortgage rates, prompting homeowners to reduce their property prices to facilitate quicker sales.

The average home price witnessed a decline of 1.9% in August, marking the most substantial dip for the month since 2018.

16/08/2023

13% of home sellers have avoided showing a particular room to potential buyers during the viewing process, while 19% admitted to steering them away from a particular view, latest research from House Buyer Bureau has found.

A survey of over 1,000 UK homeowners to have previously sold a home, found that the top reason for neglecting to fully preview their property was due to using the space for storage at the time of viewing.

16/08/2023

Nigel Green, the CEO of deVere Group, the independent financial advisory, asset management, and fintech organisation, has forecasted a swifter decline in inflation in major economies than many analysts anticipate. He also predicts a concurrent reduction in interest rates within the upcoming year.

These insights come amid growing global signs pointing to the peak of inflation.

deVere's Nigel Green also predicts a reduction in interest rates within the upcoming year.

16/08/2023

The latest CPI inflation figures from The Office for National Statistics (ONS) has revealed a drop to 6.8% in July, down from 7.9% in June.

While, Consumer Prices Index including owner occupiers' housing costs (CPIH) increased by 6.4% in the 12 months leading up to July 2023, a dip from June's rate of 7.3%.

Falling food prices and the reduction in the energy price cap were both factors in July's inflation figure falling.

07/08/2023

The Halifax house price index shows that once again there has been a small but steady dip in house prices in July. Average house prices fell by -0.3%, a fourth consecutive monthly decline. This should come as no surprise given the huge pressure people are under as a result of elevated mortgage costs.

The future of the housing market will be to a degree predicated on how much harder the Bank of England feel that they have to go with interest rates to tame inflation and crucially what investors predict the Bank to do.

07/08/2023

Prospective homebuyers, planning to purchase a property within the next two years, are confronted with an £11,500 increase in required deposit savings, according to new research from Mortgage Advice Bureau.

Mortgage Advice Bureau's latest research reveals an additional £11,500 needed for deposits by 62% of future homeowners, forcing 15% to delay their homebuying plans.

07/08/2023

The Mortgage Lender’s (TML) latest research has found that 50% of current homeowners with a mortgage had support in getting onto the ladder.

According to the research, 11% said that they had help from the Bank of Mum and Dad, while 6% used a Help to Buy ISA.

According to the research, 11% said that they had help from the Bank of Mum and Dad, while 6% used a Help to Buy ISA.

07/08/2023

One Mortgage System (OMS), the platform for brokers, has seen application volumes increase by 25% year on year.

In addition, completion volumes year on year up to July 2023 have increased by 18% with the value of lending in OMS equalling £6.5bn (compared to £9bn for the whole of 2022) with nearly 13,000 unique users having now used the system since its launch.

In addition, completion volumes year on year up to July 2023 have increased by 18% with the value of lending in OMS equalling £6.5bn.

07/08/2023

The UK housing market experienced a slight decline of 0.3% in property prices for July, marking the fourth consecutive monthly drop. Despite this pattern, industry data reflects resilience within the market.

The typical UK home now costs £285,044, down from a peak of £293,992 last August. The annual decline also slowed to -2.4% in July, compared to -2.6% in June.

03/08/2023

Another day, another interest rate hike. It’s business as usual for the Bank of England’s rate setting committee, with two zealous members actually wanting to raise rates to 5.5%.

However, its own numbers show that more interest rate hikes will make almost no difference to inflation in the medium term.

Sometimes doing nothing is the hardest approach, but there is increasing evidence that’s the path the Bank should now be following.

03/08/2023

In the wake of the Bank of England's decision to raise interest rates to 5.25%, the National Residential Landlords Association (NRLA) has warned of serious implications for both renters and landlords, urging immediate Government action to avert a crisis in the rental market.

In the wake of the decision to raise interest rates to 5.25%, the NRLA has warned of serious implications for both renters and landlords, urging immediate Government action to avert a crisis in the rental market.

03/08/2023

The Bank of England has today increased the base rate by 0.25% to 5.25%.

This marks not only the 14th consecutive hike by the central bank, but also sees the rate continue to reach its highest level in over 15 years.

The Monetary Policy Committee (MPC) voted 6-3 in favour of the 0.25% interest rate hike.

This marks not only the 14th consecutive hike by the central bank, but also sees the rate continue to reach its highest level in over 15 years.

02/08/2023

LendInvest has cut rates across its buy-to-let range, including its 5-year fixed products. The new rates start from 4.54% and are aimed at helping landlords capitalise on market opportunities.

These reductions show LendInvest's focus on supporting landlords as they build their portfolios.

LendInvest has cut rates across its buy-to-let range, including its 5-year fixed products.

02/08/2023

For the second time in two weeks, Paragon Bank has reduced the price of its limited-edition, 5-year fixed rate, 5% fee, buy-to-let mortgages.

The specialist lender has taken a further 15bps off the price of its limited-edition 5-year fixes that come with a 5% fee.

The specialist lender has taken a further 15bps off the price of its limited-edition 5-year fixes that come with a 5% fee.

02/08/2023

Mortgage lender Gen H has unveiled a new product switching range specifically tailored for its intermediary partners. The move, aimed at simplifying the process for brokers and their clients, will also provide financial incentives to brokers.

Under the new system, brokers advising Gen H clients on switching products to a new rate will earn a commission of 0.25%.

The move, aimed at simplifying the process for brokers and their clients, will also provide financial incentives to brokers.