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overtake Mortgage strategy the most popular news of this week. Andrew Montlake, Managing Director of Coreco, expresses his hope that Sunak will come up with something meaningful in the housing space, and TSB Intermediary is refusing selected housing and product transfers. Read more below:
Market Watch: Will We See Two White Rabbits?
Andrew Montlake, managing director of Coreco, said it appears Chancellor of the Exchequer Rishi Sunak has played a blind role in recent Brexit negotiations with the European Union. Sunak’s effort was achieved with care and diligence, without headlines or theatrics. Meanwhile, conflicting forces in the economy have led to confusion about the immediate trajectory of interest rates. Although the mortgage market has recovered from a difficult 2022, competition in the market is currently limited.
TSB intermediary collects resi credits and restarts after 24 hours
TSB Intermediary is withdrawing selected transfer ranges of goods and services at 13:00 March 7 and re-launching these products at a rate 20 basis points above March 8.
Monthly new mortgage value up 61% year on year: ONS
The monthly cost of a new mortgage has risen by 61% year-on-year by December 2022 for the average UK semi-detached house, according to the latest figures from the Office for National Statistics (ONS).
House prices rise 2.1% for the third month in a row: Halifax
House prices rose 2.1% year-on-year for the third month in a row, according to Halifax. On a monthly basis, home prices rose 1.1% from 0.2% in January and a 1.3% fall in December 2022.
Historical interest rates in the UK, 1979-2017: rising and falling
Timeline of key events and data relating to historical interest rates in the UK, 1979–2017
FCA confirms lenders’ recommendations to support borrowers
The Financial Conduct Authority (FCA) has released approved guidance outlining how mortgage lenders can help customers who are worried or are already struggling with mortgage payments due to the rising cost of living.
Selection of goods for sale at the highest level since last summer
According to Moneyfacts, the number of secured loans (BTL) available in the market is currently 2,400.
Weekly course monitoring: static corrections for 2 years; 3- and 10-year fixes are on the rise
Moneyfacts showed that the average two-year correction rate remained at 5.33% this week. The average 10-year fixed rate rose six basis points from 4.97% to 5.03%.
John Charkol forms partnership with Propp
John Charcol has partnered with specialist real estate finance comparison site Propp.io to provide its commercial clients with specialized financial advice and support.
Catalyst is increasing processing fees to 2.50% as part of its Spring Offer.
Catalyst will offer all resellers an increased purchase commission of 2.50% on Daily Upfront, Exit Funding, Auction Funding, and Light Repair Funding.
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